I welcome the members to the 41st annual general meeting. Hope all of you are safe and in good health. This meeting is being held through video conference in accordance with the circular issued by the Ministry of Corporate Affairs and SEBI. We have the requisite quorum present through video conference to conduct the proceedings of this meeting. Participation of members through video conference is being reckoned for the purpose of quorum as per the circular issued by MCA in Section 103 of the Companies Act, 2013. The quorum being present, I call this meeting to order. Before we start the main proceedings of the meeting, I request my colleagues on the video conference to introduce themselves. Salil. Hi, this is Salil Parekh, CEO and Managing Director at Infosys, calling in from Mumbai. Kiran. This is Kiran. Namaskara. This is Kiran Mazumdar-Shaw, joining this meeting from my residence in Bangalore. I am the Lead Independent Director and the Chair of the Nominations and Remuneration Committees, as well as the CSR Committee. Sundaram. Good evening. This is D. Sundaram, Independent Director, also the Chairperson of Audit Committee, Risk Management Committee, and Stakeholder Relationship Committee. I am joining this meeting through video conference from Mumbai. Mike. Good afternoon. This is Michael Gibbs, Independent Director. I'm joining from my home office in Houston, Texas, USA. Uri. Hi, this is Uri Levine, Independent Director, joining from my home office in Tel Aviv, Israel. Bobby. Good afternoon. This is Bobby Parikh, Independent Director. I'm joining this meeting from Mumbai. Chitra. Hello, this is Chitra Nayak, Independent Director and Chairperson of the ESG Committee, joining from my home in San Francisco, California. Nilanjan. Good afternoon. Nilanjan Roy, Chief Financial Officer, joining in from Bangalore. Manikanta. Hi. Good evening, everyone. This is Manikantha here, our Company Secretary, joining from Bangalore. Thank you. Apart from them, we also have key executives and senior managers joining from respective locations. Statutory auditors and secretarial auditors are aslo joining this meeting. I now request Manikantha, Company Secretary, to provide general instructions to the members regarding participation in this meeting. Hi, good evening, everyone. Members may note that this AGM general meeting is being held through video conferencing in accordance with the Companies Act 2013 and circulars issued by the Ministry of Corporate Affairs and SEBI. The facility for joining this meeting through video conference or other audio visual means is made available for the members on a first-come, first-served basis. The company has also provided a webcast facility to view the live proceedings of this meeting on the company's website. The register of directors and the key management personnel, the register of contracts or arrangements and other documents mentioned in the AGM notice have been made available electronically for inspection to the members during this AGM. Members seeking to inspect any of these documents can send their request to investors@infosys.com. As the AGM is being held through video conferencing, the facility for appointment of proxies with the members was not applicable, and hence, the proxy register for inspection is not available. The company has received requests from a few members to register them as speakers at this AGM. Accordingly, the floor will be open for these members to ask questions or express their views. We will facilitate this session once the chairman opens the floor for questions and answers. Members can also post their views or questions on the Ask a Question tab on their video conference screens before 4:30 P.M. IST. It may be noted that the company reserves the right to limit the number of members asking questions, depending on the availability of time at this AGM. The company has provided the facility to cast votes electronically on all the resolutions set forth in the notice. Members who have not cast their votes electronically and who are participating in this meeting will have an opportunity to cast their votes during the meeting through the e-voting system provided by NSDL. Members can click on the Vote tab on the video conference screen to make use of this facility. Members are requested to refer to the instructions provided in the notice, appearing on the video conference page for a seamless participation through video conference and for voting. In case members face any difficulty, they may reach out on the helpline numbers. Members may note that this AGM is recorded. Please do not disclose any sensitive personal information or personally identifiable information belonging to you. Thank you very much. With this, I hand over to Chairman, Mr. Nandan. Thank you, Mani. The company has taken all feasible efforts under the current circumstances to enable members to participate through video conference and vote at the AGM. I thank all the members, colleagues on the board, auditors, and the management team for joining this meeting over video conference. Dear shareholders, welcome to the 41st annual general meeting of Infosys. As we gather virtually once again, it is a pleasure and privilege to host you today. We very much appreciate your generous support, and on behalf of the Infosys Board of Directors, I thank you for taking out the time from your busy schedules to join us. Fiscal 2022 has been a year of exceptional growth. 19.7% in constant currency, bringing in $16.3 billion, which is the fastest growth we have seen in 11 years. Operating margin for the year stood at a healthy 23% and free cash flows crossed $3 billion. Our digital business grew at 41% for the year, and currently accounts for 59% of our total revenues. Each of our business segments grew in double digits and growth across geographies was broad-based. Revenues from the North America region crossed the $10 billion milestone. We won 94 large deals with TCV of $9.5 billion, of which 40% was net new, setting a strong foundation for growth in the months ahead. The board has recommended a final dividend of INR 16 per share. Together with the interim dividend of INR 15 per share already paid, the total dividend per share for FY 2022 amounts to INR 31, which is a 14.8% increase over FY 2021. With this, the company has announced total dividend of approximately INR 13,000 crore for FY 22. Along with the share buyback of INR 11,000 crore completed in September, the total capital return in FY 22 is over INR 24,100 crores or around $3.1 billion. The board of directors has recommended the reappointment of Salil Parekh as Chief Executive Officer and Managing Director of Infosys for a second term of five years from July 1, 2022 to March 31, 2027. Salil has delivered industry-leading performance for the company, and it is in the interest of Infosys and stakeholders to secure the continuity and stability of the current leadership. Salil brings with him a proven track record of driving digital transformation for enterprises, executing business turnarounds, and managing acquisitions successfully. The board also recommends the reappointment of D. Sundaram as an independent director for a second term of five years, as he is due for retirement as director after his first term of five years ended on July 13, 2022. U.B. Pravin Rao, Chief Operating Officer and whole-time director, retired as member of the board effective December 12, 2021. On behalf of the board of directors and on your behalf, I place on record our deep sense of appreciation for Pravin's leadership over his 35 years of service with Infosys, and acknowledge his immense efforts and contribution towards global delivery and business enablement. On behalf of the CSR committee of Infosys Limited and the trustees of the Infosys Foundation, I also record our heartfelt gratitude to Mrs. Sudha Murty, who retired from the office of Chairperson of Infosys Foundation on December 31, 2021 after an inspiring 25-year journey of service to the underserved and dedication to social causes. The pandemic, as it progressed into the second year, continued to test us all. At Infosys, we brought together our collective resources and strengths to respond to the challenging situation and run the business with the resilience that our clients, our employees, and you, our shareholders, expect from us. This One Infosys approach, where the collective strength of Infosys was leveraged to accelerate the digital journey of our clients, helped us deliver our highest annual growth in a decade. Salil, a vocal advocate of this mindset, urged the global leadership team at Infosys to lean in with this outlook, not only to rally our teams to collaborate and drive synergies, but also as our core differentiation when it comes to helping our clients navigate complex digital transformation projects. It amplified our relevance to the agenda and gave them more reason to trust us to deliver at a time when their businesses sought every digital advantage they could muster to tide through the trying times. Unsurprisingly, digital now drives the lion's share of our revenues. The commitment we have made over the past years to be a live enterprise with the digital ability to meet the demands of constantly evolving markets served us well. Unifying these investments as part of the One Infosys approach enabled us to deliver a disproportionate advantage to our clients. Our extensive investments in Infosys Cobalt Cloud Solutions provided invaluable for businesses seeking to adjust to the demand landscape with cloud's resilience and elasticity. We also took advantage of our growing cloud capabilities to accelerate our business platforms. For example, Infosys Equinox, that was evolved from Skava Commerce, is now helping our clients drive deeply personalized, highly effective omni-channel commerce. The cloud also amplified our ability in delivering services and solutions harnessing digital capabilities, data and analytics, cyber security, AI, automation, and IoT, more holistically. This integrated approach to digital has helped us rapidly respond to emerging business opportunities. The launch of Infosys Metaverse Foundry is one such example. Our acquisition of Oddity, the German-based digital marketing experience and commerce agency, further strengthens our capabilities in this space. The orchestrated effort, along with our focus on efficiency, automation, and cost discipline, sets us up for strong performance in the future. Our people culture has always been a strong pillar of our success. We nurture the physical, emotional, and social well-being of employees through our award-winning HAIL initiatives and by focusing on building the right culture for the future. The One Infosys approach worked to strengthen cultural connect across our talent base as we scaled our workforce globally. We increased our hiring by 2.2x in just two years, including the 85,000 college graduates we recruited globally over the past year. Initiatives with HackWithInfy, our signature coding contest, and InfyTQ, our platform with learning and engagement experiences aimed at creating industry-ready engineering students, are helping us create a rich talent pipeline in India. Infosys Career Gambit, our holistic career development program, empowers employees to gather experience and skills in areas of the future while earning better compensation, growing faster, and gaining opportunities to perform complex roles in exciting digital projects. Lex, our homegrown learning platform, has helped accelerate capability building relentlessly and globally, enabling 39 million hours of skilling during the year. Matching our passion to deliver for clients and nurture our people is our commitment to the larger community. This is encapsulated in our shared purpose: to amplify human potential and create the next opportunity for people, businesses, and communities. It inspires us to be a sustainable business in every sense of the word. It drives us to nurture ambitious ESG aspirations and to come together as one Infosys to realize it. From building a diverse workforce with strong inclusive leaders, embracing positive climate change and helping our clients do the same, and earning the trust of all stakeholders through ethical corporate governance, we do our best to move us all forward. As a result of these efforts and aligned to our ESG vision for 2030, Infosys continues to be carbon neutral. We also continue to be responsive to the needs of society in new and innovative ways. As an example, this year we instituted Infosys Springboard globally as our flagship reskilling program, democratizing learning with free digital content to empower 10 million+ people with digital skills by 2025. Today, 2.6 million learners are already registered on the platform, paving the way to a prosperous digital future. Today, Infosys has been recognized as the fastest-growing IT services brand in the world, and is among the top 25 fastest-growing brands across sectors globally. Digital acceleration across industries is opening so many new doors for Infosys to explore opportunities and create value from technology-led innovation and transformation for our clients. Corporate leaders are having to deal with the complexities and challenges of the post-pandemic world, along with slowing growth, supply chain disruptions, soaring inflation, rapidly rising interest rates, and fears of a recession. Yet every one of these challenges presents a tremendous opportunity to transition to new ways to gain market share. Infosys is a trusted navigator for our clients, and there is great potential to leverage our expertise to steer them forward. On behalf of the board, I want to assure you that we will leave no stone unturned in our efforts to evolve our approach to match the dynamics of the market. We are proud of our 300,000-plus employees for their dedication that has positioned us so well for the future. Our journey thus far would have been impossible without their unstinting efforts. We also thank our clients, cofounders, and governments of the countries and states that we operate in for their generous support. Our shareholders, as always, serve as the pole stars steering us towards greater ambition and success. To each of you, I offer a sincere thanks. I now request Salil, CEO and MD, to address the shareholders. Thank you, Nandan. Good afternoon, dear shareholders. I will share with you over the next few minutes via a presentation some of the highlights of the year and how we are looking at the future. Financial year 2022 was really a landmark year for us. We had industry-leading growth and we launched a new strategy which will help us and guide us for the next several years. The year really characterized as one of the fastest-growing years for us with growth close to 20%. This was the fastest we have seen in 11 years. In fact, one of the biggest areas of focus that we had put in place, digital, grew at over 40% and now is just under 60% of all the work that the company is doing. This was coupled with a very strong emphasis on profitability and also on cash generation with just about $3.1 billion of cash generated in the financial year. Another area of strong attention has been the way we have looked at large deals. We had 94 deals which were over $50 million. That's the threshold we have kept for the large deals. This in total gave us $9.5 billion of large deals. One of the strong foundations for what we will see in this year and in the future years for growth. An area where we've been especially more focused and strong has been our client relationships, especially with some of our largest clients. There we have seen more and more trust and a broader set of services that we are working with our clients with. This number for clients where we do more than $100 million per year has steadily increased, and in the financial year 2022 reached 38. All of this came with a broad-based growth across all of our industry segments. Whether you look at one of the largest in financial services over 17%, retail, consumer, communications, energy and utilities. Of course, manufacturing was a standout at over 40%. High tech was very strong, life sciences and overall all the other smaller segments. Each of our segments and industries was growing quite fast and manufacturing became the fastest in the previous year. Of course, all of this was in conjunction with our employee base scaling up. We are now with over 310,000 employees across the company as of March 31, 2022. This included 85,000 college graduates. The vast majority of that in India, but also some college graduates outside of India. This chart I wanted to share a little bit of the overview in each of the parameters of our strong financial performance. These are numbers which are in rupees. Whether you look at total revenue, operating profit, operating cash flow, our net profit, our earnings per share, the basic earnings per share, and our free cash flow. Each of those had a strong characteristic with a positive movement from the previous year. Our balance sheet is strong, it's debt-free and liquid. We remain extremely focused on how we look at our balance sheet, and we are making sure that everything is done to make it in as pristine a shape as is possible. This is what is reflected in what we see in the balance sheet as of March 31. Our total shareholder return for the financial year 2022 was very strong at 41.6%, with a very good share price increase, plus the dividend that was distributed and is proposed to be distributed. Across the four years, the company has returned over INR 65,000 crore to shareholders. This includes the proposed dividend for this year, which is placed in front of the shareholders for their approval. Each of the years between the buyback, the regular dividend and the special dividend, we have ensured that the cash is returned to the shareholders. We also have it across the financial year 2020 to 2022. 73% of our free cash flow has been returned to the shareholders. If we chart the total shareholder return of the company versus our peers over the last four years, we have maintained a leading position. This is the chart as of March 31. Now, we had put in place, as you all know well, a strategy in 2018. This had four elements which were critical. One was about scaling the digital business. The second was energizing our core or really, making sure we're putting more and more automation. Third was to make sure we provided a skilling for all of our employees. We have put in place, what we call localization in many of our markets that we operate in. For example, U.S., in Europe and in Australia. This was all based on a very strong focus on what is relevant for clients and a steady execution of these elements. The results that we saw were quite good. We had gone in the digital leadership where we were 24 areas of leadership in different parameters. We had moved into 54 by the end of financial year 2022. Many other areas also improved. The digital revenue, the growth, the number of client relationships over $100 billion, market share gain, and the TSR. At the end of those four years, all of those elements gave us a strong belief that the strategy had worked well and the execution was on track. The foundation of all of that is what we have called inside the company One Infosys, which is really making sure that all of the different services and all of the people within the company are engaged to make sure that the clients' objectives are met. What is happening there today is many large digital programs need different capabilities from within the company, and One Infosys allows us to bring it all together for the benefit of the client. Now, as we finished the four years that we put together the first phase of the strategy, we embarked with the support of the leadership of the company and the board a new strategic view for the next several years. As we concluded that, we came to these elements within the strategic view. One, we have a very strong focus on the cloud business, and I will share some specifics of that. Two is to continue this intensity in the rest of digital. Now we also want to start to plan what we call the next generation seeding, which is what are things which may become more and more relevant in two, three, four, five years, so to start the seeding of that today. We want to continue our focus on automation with advanced automation and modernization, and make sure that what the company has always believed in, the people care and development, gets a special attention as we go ahead. This is coupled with the continued focus on what is relevant for clients and making sure that we are executing on this, in a diligent way. Some of the elements of these bigger initiatives, for example, in cloud, we have launched what we call Cobalt, which is the strongest set of capabilities for cloud within the industry. It has focus on infra as a service, both on public and private cloud, software as a service, platform as a service, where everything new is being built on the cloud today, data, which is now becoming more and more relevant in the cloud, the security, which is now almost the primary focus for any cloud application, then advisory, design and migration, and then providing today more industry-specific solutions on the cloud, not just more generic horizontal views, but really very specific industry solution. All of this is within our Cobalt, and we are the leading provider of this in the market today. To continue our intensity in digital, we've got a very good strength on data analytics, artificial intelligence. We are now focusing more on enterprise technology. There are new elements that are coming from large software companies. Digital engineering services, one of the more fast growing areas within our business and within the market. IoT, which is doing extremely well for us, especially in the manufacturing space. Cybersecurity itself and experience, which is how does one design the technology that is more able to be used in a human-centric way, like it's part of our digital set of capabilities. The next generation seeding, there are just some examples. We have a few others which we are also working on. For example, there are companies which are digital native which are growing quite rapidly and how we can become more and more close partners with them. We have a very strong business in the U.S. We have a very strong business in Europe, but can we expand and scale more in some countries within Europe? Some of the new technology areas, for example, the Metaverse or Quantum or Web 3.0, and the blockchain area where we have very strong capabilities which we can work with our clients on. The area of sustainability, which of course for our own business we have put, an ESG targets for 2030, but our clients are also looking at sustainability and what they wish to do, leveraging some of the experience that we have. In advanced automation and modernization, we have a next- generation BPM that we are building upon, advanced ADM application development and maintenance, the modernization of our clients' technology landscape, and then AI machine learning and automation to make sure that more and more of the work in the clients' environments in that technology is automated. On the people care and development, there are three broad areas of focus within which there are several initiatives we have launched. The first is faster and predictable career progression. The second is to enhance really the engagement that the employees and the company are having. The third, continue with the extensive reskilling that we've been seeing in the first phase to make sure that continues in the second phase. While we drive all of these areas, which give us more connection with our clients and tremendous opportunity for growth and market share gain, we also have a very clear view on some of the levers that will help us to drive high margins over time. For example, managing pyramid ratios, optimizing onshore and offshore mix, optimizing subcontractor usage, capturing value from automation. We have operating efficiencies as we are scaling up the business and making it more efficient. Also looking at what is the more value we can get from the services that we are providing because some of these services, in the digital space especially have tremendous impact for our clients. With that, let me conclude. First, we've had a really strong growth, industry-leading growth in this financial year. The last four years, we saw a very good strategic blueprint and a very good execution by all the employees and leadership of Infosys. We are now building on that, success and learning. We have launched a new strategy for the next several years. Going ahead, we see good opportunity in the digital space, in the cloud space. As a company, we are well-positioned, and we can continue to gain market share and continue to create value for all of our stakeholders. Our approach of One Infosys really remains the foundation of what we have done so far and what we will do going ahead. With that, I would like to thank all of you, our shareholders, for your continued support and for all of your contribution and ideas. I look forward to working with all of our stakeholders to make Infosys an even more successful company. With that, I hand it back to you. Thank you, Salil. I now request Manikantha, Company Secretary, to provide a summary of the auditor's report. The statutory auditors, Deloitte Haskins & Sells LLP, and the Secretarial Auditor, Parameshwar G. Hegde, have expressed unqualified opinion in the respective audit reports for the financial year 2021-22. There are no qualifications, observations or adverse comments on financial statements and matters which have any material bearing on the functioning of the company. The statutory auditors report on the standalone and consolidated financial statements, respectively, are available on page numbers 176 and 256 of the integrated annual report. The Secretarial Auditor's report is enclosed as Annexure five to the board's report on page number 94 of the integrated annual report. Thank you. With this, I hand it over to the Chairman, Mr. Nandan. Thank you, Mani. As the notice is already circulated to all the members, I take the notice convening the meeting as read. Before we proceed, I am pleased to bring to your notice that as required under the Companies Act, 2013, the company has provided you the facility to cast your votes electronically on all resolutions set forth in the notice. Members who have not cast their vote electronically but are participating in this meeting will have an opportunity to cast their votes through the e-voting system provided by NSDL. Members may please note there will be no voting by show of hands. We now take up the resolutions as set forth in the notice. We will open the floor for any questions by members after all the resolutions are tabled. Accordingly, I will now only read out the resolutions. One, item number one of the notice: Adoption of the financial statements. The financial statements of the company, including the consolidated financial statements for the financial year ending March 31, 2022, including the report of the board of directors and auditors, have already been provided to the members. Two, item number two of the notice: Declaration of dividend. The board has recommended a final dividend of INR 16 per equity share. You would recall that an interim dividend of INR 15 per equity share has already been paid for the financial year ending March 31, 2022. The dividend amount, including the interim, will be now INR 31 per equity share. Item number three of the notice: Appointment of Nandan Nilekani as a director liable to retire by rotation. Item number four of the notice reappointment of Deloitte Haskins & Sells LLP chartered accountants as statutory auditors of the company. Item number five of the notice reappointment of D. Sundaram as an Independent Director. Item number six of the notice reappointment of Salil S. Parekh, Chief Executive Officer and Managing Director of the company, and approval of the revised remuneration payable to him. The text of the resolutions, along with explanatory statement, is provided in the notice circulated to the members. If any member desires to ask any question pertaining to any item on the notice, he or she may do so now. Members are requested to keep their questions brief and specific. To avoid repetition, the answers to all the questions will be provided towards the end. Members may also note that the company reserves the right to limit the number of members asking questions depending on the availability of time. While members are queuing up to ask questions, may I request the team to play short videos on Infosys Foundation restoring life to an ailing lake. Glimmering like a diamond necklace in the night skies and painting a picture of tranquil beauty is the Hebbal Lake in Mysore, Karnataka. Today, a delight for residents and a host for numerous migratory birds, the lake is a far cry from what it once was. For many of the residents, the woes of the lake seemed to have no end in sight. This is when the district administration for the Government of Karnataka decided to look for a partner who could change the fortunes of the lake. A partner who came in the form of the Infosys Foundation. Water played an important role in our life because we drink, we cook, we take bath in that. To keep water clean, we should make a good sewage treatment in urban area, and we should also respect water. We decided to take up this project, rejuvenate that, and find out any problem is there we can help in some way and make it whatever area we have a better lake. The Infosys Foundation quickly understood that key measures would need to be taken to secure the long-term future of the lake. First, the encroachments which choked the lake were removed, and so was the silt and debris which had accumulated over the years. Next, a bund was created, and the natural drains that brought in water in the past were reconstructed to ensure that the lake would have a smooth inflow of water but would hold back any unwanted litter. To tackle the problem of wastewater entering the lake, a state-of-the-art sewage treatment plant, which could handle up to eight million liters of wastewater per day, was constructed. This plant was built with membrane technology and would be maintained by the Infosys Foundation for a period of five years. With this, the lake would see a steady inflow of clean water year-round. Once the key aspects of the lake rejuvenation were addressed, the Infosys Foundation turned its focus to construct a secure fence for the lake area and also develop a jogging track around the lake. Soon, landscaping and tree plantations followed, beautifying the lake periphery. Finally, lighting, adequate toilets, and drinking water facilities were added for the convenience of the people who would visit the lake. The benefits of this project had an impact across all sections of society and the environment. Our ancestors say, "If you want to do anything good in life, build a lake. Here we have not built the lake, we have rejuvenated the lake. Today, if you go to Mysore and see Hebbal Lake, it has such a good garden, and it has a nice walking path, and people love to come there. With the restoration now completed, the life-giving force that the lake once had has come back again. Once Infosys took over for Rejuvenate, they have constructed a habitat for birds. I can say that they have constructed a habitat for birds. They just not only clean the water and maintain the place here. What they have done is they have planted fruit-bearing trees, which is much needed. Also now what water we are getting is clean water. With this, I think fish count is increased, which is again an attraction for the birds, for the food. Also the best part is they have constructed the islands. I think in last winter, I have witnessed more than 200 pelicans. With Infosys Foundation creating this, those birds are coming here for the breeding. With the chirping of birds, the gentle footfall of joggers, and the lapping of the water against the shore, the lake is thriving. A transformation brought about by the visionary efforts of the Infosys Foundation. Dear shareholders, thank you for joining our forty-first AGM today and for taking time to participate in the proceedings. Before we go live with the Q&A, here are some points to note for your convenience. Kindly unmute yourself and proceed to ask the question when you are projected on the broadcast screen. Please mention your name, folio number, and the location from where you are joining. Each shareholder will have two minutes for their questions. To avoid repetition, the board will respond to all the questions at the end. Once you have asked your question, you can switch to watch the proceedings. The board will be taking questions from shareholders in two or three sets, depending on the number of questions on video. Now I request Ms. Bindu to unmute and proceed with the question. Good afternoon, Chairman, Mr. Nandan Nilekani, CEO, Mr. Salil Parekh, and members of the board. I'm Bindu Chandra, a proud shareholder of Infosys and a member of Millennium Mams'. Millennium Mams' is a women's-only organization which helps in empowering women's financial literacy. Chairman, sir, I would like to ask you two questions. We would like to know the female- to- male workforce ratio in your company and on the board. We are also keen to know why we can't have more female directors in the company. If you think so, you can always negotiate with Millennium Mams'. A small request, sir. We would like to meet you in person if you would kindly agree. Thank you, sir. Thank you, Ms. Bindu. May I request the next shareholder, Nazia, to kindly unmute and ask the question? Good evening, respected Chairman and members of the board. I'm Nazia Haroon, a proud shareholder of Infosys and a member of the Bangalore chapter of Millennium Mams'. Chairman, sir, my question is on attrition and what the IT industry is facing. It's a big problem, and how is Infosys dealing with it? My second question, sir, is your opinion on the reverse of the great Indian brain drain. Thank you, sir. Thank you, Nazia. May I request the next shareholder, Mr. Prateek, to kindly unmute and ask the question? Good evening, ladies and gentlemen. My name is Prateek Giardia. I'm a chartered accountant by education qualification, and as a professional, I am an associate director with a firm called Almus Risk Consulting, which is a leading Forex and risk advisory company. Now, here's a background to my question. We are a net exporter with annual net exports of roughly about INR 44,000 crore. As on 31st March, I see cash flow hedges around INR 23,000 crore, which equals to approximately about six months of net annual exports. Now, here's my question: We have an economic exposure which might be exceeding six months. What's the firm's hedging policy? A related question. Recently, the RBI has come up with a circular allowing exotic derivatives that can be used for managing long-term exposures. I understand that exotic derivatives is a taboo for most of the boards. Considering the sophisticated treasury that we have at Almus, at Infosys, how do we plan to, you know, leverage this, liberalized regulation which can be used for managing long-term exposure? That's question one. My second question is: In the last two to three months, the premiums have come down from 4% to 3%. What's the impact on future export realizations with the lower premium? Very financially specific questions. Thank you. Thank you, Mr. Prateek. May I now request Ms. Shruti to kindly unmute and ask the question? Good afternoon, respected Chairman, sir, and members of the board. I am Shruti Saraogi, a proud shareholder of Infosys and a member of the Kolkata chapter of Millennium Mams. Chairman, sir, at the onset, I would like to congratulate you on being felicitated with the prestigious Lifetime Achievement Award by the IET India. It is indeed a proud moment for all of us here. I have two questions, sir. We at Infosys are having a problem of plenty, and hence we need to go for regular buybacks. Your thoughts, please, on whether we are being adequately aggressive towards inorganic growth. Are there any big acquisitions on the cards, sir, as we would like to see Infosys as a trillion-dollar company sooner than later. Chairman, sir, you are the most important person in the country. You have played a major part in developing Aadhaar, UPI, and now you are creating the ONDC. Sir, my second question is: when will you give our Infosys a mega avatar? Thank you. Thank you, Shruti. May I request the next shareholder, Mr. Dara Jawada, to kindly unmute and ask your question. Good afternoon, sir. Greetings of the day to the whole board members. My name is Mr. Dhara Jawada. I am a PhD research scholar from Surat, Gujarat. Some of my question which I would like to place in front of you are: firstly, looking at the current scenario in economy, world economy, inflation rising, chances of recession, depreciation of rupee, which sector do you think will outperform and underperform for our company? Second, our company is having a strong cash flow, but rating agency gives us the rating of stable. When do you think that rating agency will improve our rating for the cash flows? Third, employee engagement program. What all are the employee engagement program looking at the five Cs which you have mentioned in the annual report? How many US dollar million, hundred million clients you wish to add in this particular year? Last question, how many patents and copyright do you target to file in this particular year? Thank you very much for the opportunity. Thank you, sir. Thank you, Mr. Dara Jawada. May I request the next shareholder, Mr. Pradeep, to kindly unmute and ask the question. Mr. Pradeep, we are not able to hear you. Can you kindly unmute? Sorry, Mr. Pradeep, we can't hear you. We'll move to the next shareholder, and we'll come back to you. Next shareholder, Mr. Sadananda Sastry. May I request you to kindly unmute and ask your question. Am I audible? Yes, sir, you are audible. Good afternoon, sir. I am Sadananda Sastry from Bangalore. My number is 1170-22-2201. Sir, Chairman, sir, in your message, page number 23, you have asserted that Salil Parekh is a big champion. It is good. Fine also. Do you mean that all others chota are champions? His big hit on 88% burden on the purse of the company has become a talk of the town. Being a press person, I have reported to the press, but I also share a heads up. This discussion is in the interest of the shareholders, investors and the company. Nowadays, competition fight contest arose among CEOs of MNCs about their emoluments and emolument announcement. What is your comment? You have also talked about the human potentials, but the recent development of leaving job, that is quitting behavior, 88% as per press survey seems a major defeat. In such an atmosphere, what is your strategy to lure the skilled human resources? Sir, coming to the report, page 53, there is a steep increase in revenue growth, but the new pay rate is decreased. Now, how the company will balance this year? Page number 82. Among Mr. Sadananda Sastry, we are not able to hear you. Item number is 285 and then page number 90, director remuneration. I t enough to pay how we are paying it, INR 71 crore. Right? Just a minute. We feel bad to take free or paid service from chairman. Page number 97, CSR. After the exit of Sudha Murty, company has not disclosed on the revampings and the fact of functioning and functionaries of foundation, whether the foundation is streamlined and functioning on the same line. Page number 158. Nowadays, that is Infosys bonus issues is being talked about by some of the agencies. The official fact has not come out. Let us know whether the company is in thought of bonus. Page number 159. Company has transferred the unclaimed dividend of INR 2.02 crore to IEPF. This year, 2021, 2022, is maximum among all other previous years. Whether company had made any attempt to trace the beneficiaries. Page number 244, related parties, whether their dealings with China concluded or continue. Still dues of INR 66 crores is pending from Infosys China. Have you taken any steps to recover? Page number 64, receivables increased over INR 3,400 crores, out of which INR 500 crores already impaired. What step the company will take to reduce it and to stop from becoming bad debts? Page number 265, other equity INR 975 crores. Notice other expenses shown in schedule 2.20 under the head Expenses and Employees Expenses repeated twice, both in 2.20 and 2.2. Mr. Sadananda Sastry, we are unable to hear you. Thank you very much. See you next time. Thank you, Mr. Sadananda Sastry. May I request the next shareholder, Mr. Hiranand Kotwani, to kindly unmute and ask the question. Yes, I am audible. Namaste to all. I am audible, gentlemen? Yes. Yes, we are hearing you. Namaste to all. It's a great privilege to meet you people. Certainly, your address of Chairman Nandan is very lovely and good, and particularly Salil, I congratulate him for next inning. Even Nandan also. I will drop so many questions to save the time. Certainly, I'll touch upon two questions only. One is this, the directors' report, page 70. The cost of sales has improved. It is a 25%, gentlemen. Growth and profitability is not that much improved. Look into this, the cost of sales. Next is, your report says, there were 25 sexual harassment cases. They were dealt, okay. You can elaborate the various geographies, various laws are there. How you dealt, you should disclose. It is been to court of law or internal settlement? If you can elaborate at various geography, 25. One more, in the TCS, there was a 26 or 36. Chairman told me in very that time. In our organization, there's a 25, and human rights violation is 742, gentlemen. What type violation is internally? How you dealt with them? Is there any training program to improve? The human rights violation should not be there. Sexual harassment case should not be there. Any case is reported from male side against human against women harassment, if it can. Because one organization is reported, women harassing men. In PSU banks also, one case is reported. Now, will you elaborate this, that is fine. Other company is good. They are doing the best. We are only encourage. Reward the investors, minority shareholder. Thank you and good luck ahead. Thank you, Mr. Hiranand. May I request the next shareholder, Redappa. Redappa, kindly unmute yourself and ask your question. Thank you. Thank you, Manikantha Garu. My chairperson, Mr. Nandan Nilekani, sir, and Mr. Salil Parekh, sir, and director of the video conference, and my fellow shareholders, good evening. Namaste, sir. My name is Reddeppa Gundluru, I'm from Hyderabad, sir. I'm very happy, sir, as a shareholder. I'm also proud about the company performance of 2021, 2022. Thank you, sir, for informative presentation, detailed AGM report you have given us, sir, with the presentation. Excellent speech by chairman, sir, and CEO, sir. Thank you. Sir, fantastic annual report, sir. I've gone through all the annual report. Thank you so much, sir. Firstly, sir, congratulations to management and all of us as Infosys named as the second most valuable Indian brand as a name in the Brand Finance India 100 2022 report. Infosys is now the fastest growing IT services brand globally, sir. Congratulations for this. sir, in 2018 2019 financial physical AGM, we have wished and expected many more things. That has become reality now, we have 100% faith on Nandan Nilekani, sir. It was a delightful and a wonderful experience. Very nice memories with the board, sir. Thank you. Wonderful interaction with Nandan Nilekani, sir, and Salil Parekh, sir. We both are very good leaders. Sir, second, corporate governance point of view, I wanted to congrats and very happy, sir. Ethical and corporate governance you are posting, sir, especially like legal, integrity, world-class, corporate governance, I would like to say. sir, this, we have consistent performance of returns of last three years, sir. We're very happy. Sir, from a financial point of view, I wanted to congrats for this cross and many more milestones of the revenue growth, sir. Thank you. Thank you for dividend payout of INR 31, including interim dividend, sir. Congratulations for the wonderful numbers you are posting, sir. It seems my company's consistent performance and quality management and with the technical movement, sir. You have a very good growth mindset, sir. Thank you. Sir, and also, sir, from awards point of view, sir, especially I would like to highlight this. Infosys recognized among the top 50 India best workplace for women, sir. Women award we achieved in 2021 by Great Place to Work in this large companies category. I would like to congrats for Nandan, sir, and entire team of KMPs. Thank you, sir, for your wonderful workplace, especially women's. Also sir, congratulation for the many more awards, honors, both nationally, internationally. Infosys top of the CRISIL Ranking award, Infosys Institutional awards. Many more, sir. There is no time, I am restricting myself. Many more awards. I don't want to read out this rank awards, sir. Also, sir, few I'll try to. We have a HR awards. Yes, sir. I have to. Yeah. Please Manish sir. I have questions also. Let me come. Give me two minutes. Thank you. Most ethical company with fastest growing is appreciable. Also HR awards, digital services and technology innovation awards we have achieved, sir. Thank you so much, sir. I'm very happy today because today is Infosys AGM. Sir, CSR point of view, I would, I wanted to appreciate and my heartfelt congratulation for the board under Nandan Nilekani sir leadership, doing wonderful, tremendous CSR towards COVID-19. Other all the areas, sir. Especially, sir, I have seen special annual report for CSR. It's a wonderful thing, sir. I've never seen other companies. My company is a world number one company. There's a reason we were giving one this annual report for CSR. So especially, thanks to Kiran Mazumdar-Shaw and also Sudha Murty ma'am for 25 years of services. So no words to say thanks to ma'am. Thank you. Namaste, Sudha ma'am. Also special CSR KMPs also, I'm giving all the best wishes. Congratulations. Sir. Mr. Reddappa, please conclude. Thank you. Yeah. I'm coming to my questions. Mr. Chairman, I would like to know what is the company vision in coming financial couple of years? In financial year 2022, company has guided a revenue growth of 19.5%-20% and achieved a growth of 19.7%. Financial productivity, revenue growth guided was 13%-15%. Any specific reason for this guiding revenues lower than last year and do we see any revenue upgrades, sir? Can you comment on this? Another question is during this Q4, financial year 2022, commentary reported as a discussion with the clients for a price increase. Any indication on revenue increase can be seen in a Q1 FY 2023, please? Also, one more. Any updates on Daimler deal and transaction in digital technology? Please give me these updates for Daimler deal. Lastly, sir, any update on unspent CSR of INR 51.75 lakhs? Has the same been spent? Sir, lastly, I would thank you for company secret department, Manikantha sir and other and his team, his wonderful services, sir. Number one good services they are giving, sir. Also thanks for Info team, Pooja and Rakesh and other employees for this smooth meeting proceeding, sir. I personally believe that our company will achieve many more higher awards, recognitions under the leadership of one and only Nandan Nilekani sir and Salil sir. I wish all the best for the board, good health, happiness, continue to support to the society, sir. Thank you, sir. Love you, Nandan Sir. Thank you, Mr. Reddappa. May I request the next shareholder, Mr. Santosh? Mr. Santosh, kindly. Yeah. Unmute yourself and ask your question, please. Yes, sir. We can hear you. Kindly go ahead and ask your question. Thank you Mr. Santosh. May I request the next shareholder, Mr Vinod Agarwal. Kindly unmute and ask your question. Good afternoon to everyone, sir. I'm Vinod Agarwal speaking from Mumbai. I've got, two or three queries, sir. Inducted 140,000 employees last year. Of them, 84,000 were directly from the colleges. You provide them training to these new inductees. The training part would cost money to the company. If they leave early on, they go away from the company, that cost, are we able to recover those costs from them? Or it is just a part of the business cost that which we cannot recover from these employees whom we have trained. My second would be on the cloud services, Infosys Cobalt. It's a game changer for our company. It is giving us faster revenues and the wider range of customers, and it is helping us develop the more products for the clients in a faster way from months into days, sir. I compliment you for that. I have an observation on that, 5G is coming as a tech which is revolutionizing a lot of industries, sir. Are we also likely to go into something like auto drive, vehicles are becoming auto- driven ones. Are we likely to develop some programs for them or the industrial core level? We are into robotics and AI learning, so that will help us gaining from the industrial core revolution which is taking place. I'm happy with the performance of the company and the foundation, and the foundation has led to the Dharamshala, one at Jhajjar and one in Navi Mumbai. The 94 large deals were done for $9.5 billion. The awards you mentioned on pages 54-57 of the company and on the annual report are good, sir. I'm signing off. Vinod Agarwal. I wish the company all the best and aim for the dividend of INR 31 is good dividend. I wish the company all the best for the future. Thank you. Signing off, Vinod Agarwal from Mumbai. Thank you, Mr. Vinod. May I request the next shareholder, Mr. Shrenik Mehta from Jamnagar. Kindly go ahead and ask your question, sir. My beloved chairman, Mr. Nandan Nilekani, MD and CEO, Mr. Salil Parekh, CFO, Mr. Nilanjan Roy, Company Secretary, Mr. Manikantha, other Board of Directors, and my fellow brothers and sisters shareholders. Myself, Shrenik Mehta, retired advocate and long-term investor and minority shareholder. First of all, Nandan Nilekani, I would like to appreciate the result of financial year 31 March 2022. We are quite happy as far as profit is concerned. Market cap has increased by 40% and dividend is also quite good. No complaint, no suggestion about working of the company. As a shareholder, I congratulate the whole team. At present I think, Sibo, if my figures are incorrect, Nilanjan can correct me. At present, we are having INR 30,000 corruption case. It is my humble question, how are we going to keep it with us or how we are going to use by inorganic acquisition or special dividend or whenever time comes, buyback through tender route. It is up to you, sir. Our board of directors. Market cap of our company has gone down to INR 6 lakh crore at present, as per yesterday's price. I would like to, as a shareholder, suggest what step you are taking in first phase to increase our market cap of the company to minimum INR 10 lakh crore in the first phase. My next is, if possible, after Diwali, during next winter, we would like to pay visit to company if possible. My last question is, how we have derived our name Infosys. What is meaning of Infosys? I think it is not any English or any language word. How we have? Thank you very much to Manikantha and his team for giving me an opportunity. Thank you all. Thank you, Mr. Shrenik Mehta. May I request the next shareholder, Vasudha. Vasudha is joining on an audio call. Ms. Vasudha, kindly go ahead and ask your question. Very good afternoon. Good aftertoon Can you hear me, sir? Yes, ma'am, we can hear you. Kindly go ahead and ask your question. Okay, thanks. Very good evening, respected Chairman, sir, Board of Directors, and my fellow shareholders. Myself, Vasudha from Thane. I would like to congratulate our company secretary and his team for sending me the soft copy of the report well in advance, which itself is clear and transparent. The presentation given by the chairperson is also very informative. I don't want to ask any question, only one suggestion. Please look into the matter of unclaimed dividend amount which is transferred to IEPF fund. With this, I support all the resolution. Thank you very much. Thank you, Ms. Vasudha. May I request the next shareholder, Mr. Abhishek. Mr. Abhishek, kindly unmute yourself and ask your question. Mr. Abhishek? Yeah. Am I audible? Yes. Kindly go ahead and ask your question, please. Yes, sir. My name is Abhishek, shareholder of the company. My DPIN is 301637 and client ID is 41359155. First of all, I congratulate the management on the eve of 41st annual general body meeting. I trust all is well with you and your family in this challenging situation. Our company deserves much more respect than the current market cap, completing more than a decade of successful operations, profitability, dividend history, and becoming one of the strongest brand in our respective segments. I would like to know how our business was being impacted in these past three years of this COVID-19 time, the coronavirus and the subsequent lockdowns and virtually no industry untouched after the COVID-19. Whether any employees our company has sacked. Higher salary cut in percentage, if any, I would like to know from you, sir. What is the number of employees strength in Infosys, I would like to know from you, sir. Since for the past three years, the shareholders are not able to meet you physically, and we are forced to meet you virtually. I would request the management to kindly keep a get together for the investor fraternity as and when you think that the COVID situation has come across, and we can have a get together. Most of the companies, they have started doing hybrid mode, so both the options are being kept open for the AGMs and companies across Chennai are doing physical as well as virtual. Hope that the company, our company also takes such steps in the years to come, so that hybrid mode will be followed in the years to come. That is the best option which is being taken up by certain companies as an initiative and similar initiative to be taken up by our company also, so that in the years to come, you can get the valuable suggestion, ideas from various shareholders across the country, and our company can empower in the years to come. Sir, I am a well-wisher of the company. I am really thankful to the management for having declared a very good dividend during the year. Even during the pandemic time, the company has sustained and declared a fantastic dividend. We are really glad to be the shareholders of Infosys. We are really thankful to the company secretary and his entire team for conducting the annual general body meeting virtually and helping the investor fraternity to join this through the Zoom platform and give them valuable suggestion and ideas. We are really thankful to the entire secretarial team for their entire efforts to conduct the meeting virtually and connect 36 shareholders in this virtual platform. Sir, I thank the entire board of directors. Myself and my team are having a legal firm in the name and style of Seven Worlds Associates in Chennai. I request your good self to kindly enroll our firm in the employment of the company, and we will be glad to extend our services, sir. Nothing much to ask, sir. I wish the company and the board of directors a great success and prosperity in the coming future. Hope to see you in the physical AGM next year. Thank you very much, sir. Thank you for doing so. Thank you, Mr. Abhishek. May I request the next shareholder, Mr. Kaushik. Mr. Kaushik, kindly unmute yourself and ask your question. Sure, okay, sir. Mr. Kaushik? Yeah, good. Can you kindly go ahead and ask your question? Thank you. Mr. Kaushik, are you able to hear us? I think there is some audio problem. We'll move to the next shareholder. Mr. Bharath Raj. Mr. Bharath Raj, can you kindly unmute yourself and ask your question? Yeah, very good evening, entire board of directors, Mr. Chairman, Mr. Parekh, and entire board of directors. First of all, I'm happy to see you all safe, healthy, and fine. I thank Mr. Manikantha for arranging a wonderful virtual video conference. Sir, first of all, entire board of directors, thank you for giving a wonderful dividend, sir. INR 31. Sir, we have completed 41 years, sir. Mr. Chairman and CFO, CEO, can we expect next year INR 41 dividend for the next year financial year, sir? That is my request. Sir, we have completed INR 1 lakh crore of revenue, sir. We have net profit is INR 22,000 crore, sir. It is very good performance, sir. 56% revenue is coming from the digital, sir. I'm very happy, sir. 56% revenue coming from US. Sir, my question is that in this recent war, Russia and Ukraine, how my company is impacted in this quarter and next quarter. In this year, how my company is losing because you shut down the office at Russia. How my company is losing the revenue, sir, and how this fiscal year will be able to accumulate that revenue, sir? That is my question, sir. Sir, we are the highest women employer, sir. I'm very happy, sir. First of all, I thank the management for a very good decision for approving five years period for my CEO, sir, Mr. Salil. Salil, I hope you remember in 2018, a CEO is a post for three years like a marriage contract. If you sustain for three years, you'll be the king in the company. Successfully completed three years. Maybe in second year, there was a small disturbance in our company, but you completed three years. Now you'll be in five years in my company, sir. I'm very proud. You will make definitely my company as a $2 trillion company, sir. Because under your leadership, my company is growing wonderfully. Sir, CSR, yes, we are doing wonderful, sir. INR 400 crore we are spending on CSR, sir. I'm very happy, sir. Sir, since 2018, we have not received any bonus, Mr. Chairman. Can we expect a liberal bonus in this financial year? Because five years are completed, we expect a bonus from the management, sir. Regarding, sir, why my company is not serious in South Africa, sir? Why my company footprint is not in Nigeria, Kenya, and South Africa? Because Nigeria is a future upcoming country in the world, like in India, it is growing aggressively. Why the footsteps is not there in Nigeria, Kenya, and some other South African countries? Sir, why only woman director is one, sir? Why only our madam is there? Why in India there is no other woman directors available? Or there is no more woman directors in my company, sir. Why you are only accepting only one lady? Except if by next AGM, we'll expect at least two women directors in my company, sir, because we have 39% of women employees. There is only one woman director means it shows a wrong signal to the entire country, sir. Regarding this IT filing, sir, recently I received lot of complaints about the Infosys. They don't know how to manage something that issue, sir. Mr. CEO, see that it should not be happening in the next year, coming years, because we have a reputation in the Indian market. The Finance Minister also very serious about our company, why it is happening, some hiccups in filing the cases. Mr. CEO, please, see that in next coming years, it should not be the issue, sir. Recently in USA, there is a recession, sir. How we are encashing that recession, sir? Because once in US, it is recession means we have very good revenue and hope we have very good business for our company, sir. One more thing, sir, Mr. Chairman, last time in the fiscal year, I requested for the Bangalore plant company visit, sir. I hope if you please convey to Mr. Manikantha who are participate this AGM please do send them to the Bangalore IT Park so that we want to see how the Bangalore IT Park has been built, sir. I'll be more proud and happy to see that Bangalore park, sir. Once again Mr. Chairman all the best for the coming years. Mr. CEO Salil I believe in your leadership. Yes you're doing wonderful my company. I recommend sir my CEO salary should be the best in India and it should be most highest in India sir. Because Wipro is paying more than my CEO sir but I want my CEO salary more than my Indian competitor sir. I recommend, chairman and entire board of directors see that my chairman and my CEO salary should be highest in India, sir, because he's working hard for my company, he's making the share price sustainable, and he's doing very good dividend to the shareholders. I hope, Mr. CEO, you'll give bonus also in this coming years. I believe you, sir. Once again, Mr. Roy, I know how you're working hard to give shareholders money very good. You are putting your hard efforts to my company, sir. Once again, all the best. Thank you. Once again, all the best for the coming years. Thank you very much, Mr. Manikantha and entire team. God bless you all. Thank you, Mr. Bharat. I request the next shareholder, Mrs. Patel. Mrs. Patel, if you're on the audio, kindly unmute yourself and ask your question. Hello. Are you able to hear me? Yes, ma'am. We can hear you. You're able to hear me? Yes. Very good evening to all of you. Respected chairman, eminent board of directors, the management team and all the employees of the company. I first would like to thank Mr. Manikantha, Madam Rekha, and Rakesh, and all the full secretary team for giving me and sending the annual report and the excellent annual report. Even your CFO, I thank you very much for the good financial statements. Company is doing very well. A very efficient company, enterprising company, a well-managed company, giving very good, making good profit, and giving us a very good dividend. Mrs. Patel, we are not able to hear you. Mrs. Patel, are you there? Yes, I am very much. You are not able to hear me? Yes, now we can hear you. Kindly go ahead. The company is doing very well. Efficient company, good profit making company, well-managed company. Company has given us a very good dividend, and Mr. Salil Parekh, you are doing a good job. We have much faith in you, and all the directors on the board. One little this, Mr. Uri Levine, the shirt that you're wearing is very much coinciding with your emphasis. Fall in love with the problems and not with the solution. Indeed, it is very, very, very apt saying, like a good saying that you have registered. The results have been very excellent. I congratulate the company for the good awards and accolades that the company has received. An INR 16 dividend is a good dividend, but of course, we request for a little. Mrs. Patel, we are not able to hear you. Mrs. Patel, we request you to kindly send your questions via email. We will try and answer that. We'll move to the next shareholder, Mr. Mukesh Ajmera. Mr. Mukesh Ajmera, kindly unmute yourself and ask- Hello. Are you able to hear me now, Mr. Manikantha? Mr. Manikantha, are you able to hear me now? Yes, madam. We can hear you. Yes. Ask your question. I think, your line is unstable. If you can wrap up the question early, please. Mrs. Patel, are you there? We'll move to the next shareholder, Mr. Mukesh Ajmera. Mr. Mukesh, kindly unmute yourself and ask your question. Yeah. Hello, Rica. Namaskara. Good afternoon, Salil bhai, Nandan bhai, if I may call you so, also Nandan, Mrs. Kiran Mazumdar-Shaw, all the other board of directors. It is yet another time of the year when we are meeting you just once a year for a few minutes, and then we meet you the next year. I wish it was a physical meeting this year, which we have been missing for the last couple of years. I would like to congratulate the company headed by Mr. Nandan Nilekani and Mr. Salil Parekh, and their entire team for excellent performance that the company has given despite you know, global hiccups and all kinds of problems, including in the IT industry. Ship that was sailing in rough waters about four, five years ago has been stabilized. With the leadership of both these people and also others who have been helping them. I would like to really give them lots of appreciation and thank them for being able to convert the company, to turn the company around and stabilize the ship. The share value has gone up from nearly INR 700 to 1,900 INR. That in itself is a reflection that we are on a sound footing. There are so many accolades and awards and all that. I mean, it's mind-boggling how the company has been doing so excellently well. Though Infosys employees are considered to be Infosian, we ourselves, as shareholders would also like to call ourselves as Infosians. Because this is one of the only companies in the that we belong to, though we have shares of so many companies. That, it's a, you know, pleasure and a delight all throughout. I wish I had the shares of Infosys right from its IPO days, which I had missed out on. I would also like to request if it's possible for the company to have Mr. Narayana Murthy and Mrs. Sudha Murty also say a few words at every AGM. Or if they're able to come live, so that we know, you know, how they are doing. We would like to see them. It's a pleasure because they've been the mentors. Also Nandan, who is now present, but otherwise, it's very difficult to see some of them. I'm also very delighted with the company's social initiatives and also energy conservation. More than 50% of the energy requirement is being done through renewable energy, which is remarkable. This needs to be transcended into even a national model. Though all the companies, you know, give all kinds of statistics, but very few of them have, you know, done really well. Infosys deserves all the praise for that. If you can please extend this to even the masses. For example, saving water, saving environment and conservation is a huge challenge for the world in general. Why can't Infosys take it up, including through mass media, you know, advertising? Not that it requires, you know, advertising at all. It, through its initiatives, people listen. When Infosys talks, people listen. That is a kind of honor, respect and clout it commands, not only in India, but globally. If you can look into this, it'll be very nice. Yeah, I'll be completing soon. One of the things we have been missing out on is, you know, visiting you, the different campuses. Many of us have not seen the campus both at Bangalore and Mysore. If we can have a regular, you know, round-the-year program, it'll be nice that every month, say or every fortnight, you know, you have some kind of a initiative that people can join, rather than making a specific request. I'm sure there are a lot of shareholders who would want like to be part of this. If you can consider this as a ongoing program, it'll be appreciated. I would like to find out what is this iCETS that was mentioned in the annual general report, which was excellent and as usual, very exhaustive. Does it apply to all the companies across all the models of business, or is it just for some of the, you know, programs and things like that? If it's possible, we would like to, you know, visit you at the earliest, Salil bhai. I've been waiting to meet you. I just met you a couple of times, when you started with Infosys first year and second year. Two more years have gone. So if possible, please do accommodate us. Thank you, Manikantha, for accommodating all of us, all the shareholders. Your Infosys model is to be emulated by all the companies in India. As one of the shareholders mentioned, there are a lot of issues with unpaid dividends and shares transmission, which I'm a victim of in some other large group and company. More than INR 200,000 crore are lying in government coffers unclaimed. Zerodha's Nithin Kamath also had made some comments about it. If possible, I would like to contribute to this. As a respectable company, I would like the company to reach out to the government. I'm sure the Prime Minister, who has been abolishing many redundant British-era acts, will listen to you also. Please, let me contribute to that. Thousands of people are victims of it because of you know impossible to comply rules and regulations. This is something you can do service to not only investors of Infosys, but across the entire investor community in India. I wish everybody lots of good luck, including the top management and all the Infosys employees. Thank you very much. Thank you, Mr. Mukesh. May I request the next shareholder, Mr. Goutam? Mr. Goutam, kindly unmute yourself and ask your question. Good evening. Namaskar. Am I audible and visible sir? Yes sir, we can hear you and we can see you. Kindly go ahead. Respected Chairman, Board of Directors and my online fellow shareholders. Myself Goutam Nandy of Kolkata, the city of joy. Very old equity shareholder of Infosys Limited. Firstly, I like to give thanks to your Secretariat Department for sending me annual report and other necessary relevant papers through email very early in advance. Specially thanks to our respected Company Secretary, Mr. Manikantha and his whole team for rendering very good services to our minority shareholders. Sir, you are organizing your annual general meeting through video conference for the third time and I find it is a grand success. Thanks again sir. Sir, my earlier speakers already expressed their views and covered most of the points regarding accounts and performance of the company. Therefore, I don't like to repeat as per your guideline. Sir, a few years back we had faced GST and demonetization. Sir, ये दोनों का effect अभी तक खत्म नहीं हुआ। इसके अंदर क्या हुआ? 2020 में हम लोगों को COVID-19 ने attack किया। इसका effect अभी तक जारी है। Each and every company is suffering very very much. I am very glad to see that despite a tough pandemic and most challenging year, you have tried your best. Your CSR is also very remarkable. Sir, I am very proud to be a shareholder of your company. I am very hopeful towards the prospect of our company. I have full trust with our strong management like you and so I wholeheartedly support your all resolutions which I have already casted through my e-voting. Sir, I am very happy with your company getting regular, very good dividend and I also got huge price appreciation in your company's share sir. Thank you very much. Sir, nothing to say more today. Looking forward with a positive outlook towards our company with higher profit margin, 1:1 bonus, handsome dividend and return. Sir, may God bless you sir. Stay safe, stay healthy. Thank you very much. Signing off Goutam Nandy. Thank you, Mr. Goutam. May I request Mr. Krishan. Krishan, kindly unmute and ask your question, please. Thank you, sir. Thank you. Can you hear me? Yes, I can hear you. Kindly go ahead, please. Thank you, sir. Thank you to giving me the opportunity to join with you. Sir, आपकी तारीफ के बारे में सभी लोगों ने कह दिया है। अब उसको मैं दोबारा repetition नहीं करूंगा। Sir, 57% की जो हम लोगों ने revenue generate किया है, वो सारा का सारा इस साल online में generate किया है। उसके बावजूद भी हम लोग हमने काफी सारे नई जो नौकरियां हैं, वो भर्ती की हैं और उसके अंदर काफी ज्यादा हमने synonymously कुछ opportunity भी हो सकता है gain की है। उससे हो सकता है हमें आने वाले time में काफी benefit मिलेगा। लेकिन Sir, मेरी आपसे जो request थी, मैंने आपको mail भी भेजी थी। आपका जो मुझे mail receive हुआ था इस AGM का, वो Sir, हमें मिला था 27th of May को और आपने, को मैंने 30th May को annual report के लिए एक request भेजी थी, लेकिन जो मुझे अभी तक receive नहीं हुई है। Please अगर आप उसे मुझे hard copy भिजवाए, तो आपके लिए बहुत thankful होगा। Sir, दूसरी बात मैंने आपसे कल भी इस बारे में एक request की थी कि मेरा speaker number आप लोगों ने nine में डाला था, लेकिन अभी काफी सारे speakers के बाद मैं waiting में था। तो डेढ़ घंटा हो गया, लेकिन मुझे यह नहीं पता चल रहा था कि मेरा speaker number कितना है। इसके लिए भी थोड़ा सा दोबारा से भी आप इसके लिए aware रखें। जहां तक Sir, page number 43 पर मैं देखता हूं कि Sir, हमारी जो basic EPS थी last to last year, वो ₹38 से बढ़कर last year ₹45 हुई और इस साल भी ₹52 हो गई है। Same growth के ऊपर है। लेकिन Sir, जो हमारा dividend ratio है, वो last to last year ₹17 से आपने last year बढ़ाकर ₹27 किया था और इस साल आपने उसे बढ़ाकर I cannot see here, please. You can see me? Gautam Tiwari here. Gautam Tiwari cannot see your this thing, stage. Sir, you cannot see me? Sir, Gautam Tiwari. Hello. I cannot see the stage. Sir, where is the stage? I don't understand that. I am on this stage. Sir, anybody disturbing me? I don't understand that. Sir, इस साल हमने ₹31 का जो dividend दिया है, उसको हमने last year की जो growth हमने दी थी, उस तरीके से उसे accumulate करके नहीं दिया है। Sir, इसमें मैं यह नहीं समझ पा रहा जो हम लोगों ने growth दी है, वो अपने लिए किस तरीके से उसने accommodate किया है। जहां तक मैं revenue की growth को देखता हूं, वो भी 10 से बढ़कर 21 हो चुकी है। Almost double हो गई है। उसके बावजूद भी आपने इस तरीके से हमें dividend के बारे में नहीं सोचा है। जहां तक Sir, मैं अपने page number 68 पर other comprehensive income देख रहा हूं, वो भी ₹191 करोड़ से जो positive में थी, इस साल हमारे को ₹48 करोड़ की minus में चली गई है। इसका main reason क्या रहा है, उसके बारे में थोड़ा detail में बता दें। जहां तक Sir, मैं page number 90 और 91 पर देखता हूं, उसमें Sir, हम लोगों ने अपने जो directors की remuneration थी, जो मुझसे कुछ full व्यवस्था ने भी बात कही है कि Sir, directors की इतनी remuneration लेने का कोई most of the कारण होगा कि वो किसी और companies के directors के साथ अगर अपना competition कर रहे हैं, तो please ऐसा ना करें, क्योंकि आने वाले time में नहीं तो हमारे लिए काफी challenging हो जाएगा। क्योंकि Sir, हमारे 10 directors almost ₹280 करोड़ का remuneration gain कर रहे हैं। अगर हम जब 2019 का last remuneration अपने director सतीश पारीक जी का और U.B. Pravin Rao जी का देखेंगे तो last दो, जब 2020 में उनका जो last remuneration था, वो ₹24 करोड़ का था, जो कि current में ₹71 करोड़ से plus हो गया है, जो three hundred times company के, मेरे ख्याल से directors ने अपना-अपना gain किया है। Jahan tak Praveen Rao ji ka bhi dekhta hun, woh us time pe 2020 ke andar INR 9 crore tha last jab COVID-19 start hua tha aur ab hamari company ke Rao sahab ka INR 37 crore ho gaya. Woh bhi 400% ki growth ho chuki hai. Aisa na dekhen. Kam se kam shareholder ke dividend ke saath bhi aap jo hamare se jyada badi equity promoter ke paas hi hai. Small investor ke baare mein hamesha sochein aur usko kis tareeke se rewarded kiya ja sakta hai, iske upar thoda dhyan karein. Thank you, sir. Thank you. Aur in question ka jawab zaroor den. Thank you, sir. Thank you, Mr. Krishnan. May I request the next shareholder, Mr. Aspi? Mr. Aspi, can you kindly unmute yourself and ask your question. Sir, can you see me and hear me? Yes, sir. We can see and hear you. Kindly go ahead. Chairman Sir, I am Aspi from Bombay. Sir, I understand from various news agencies that USA may undergo recession. Since you interact with so many people and companies in U.S., are you seeing any sign of such macro event of recession in U.S.? From what you see at the ground level, do you believe a recession is around the corner in USA? Sir, digital offering has grown 36% year-on-year, which is very good. You should concentrate more on digital. Sir, any reasons for no growth or small negative growth between third quarter and fourth quarter of the current year? Are you likely to see negative growth between first quarter of current year and fourth quarter of last year? Sir, Europe has grown in Q4 by 22% year-on-year due to Ukraine. Is this momentum likely to sustain? Sir, please do not accept government contracts. Every time there is a problem, the blame comes on Infosys. Like every time there is a income tax problem, the blame comes on Infosys that you ask Infosys to sort out this problem. Please do not accept government contracts because when you go to another country, they will say you cannot do your own country's work. What you will do for our country? Please do not get government contracts. Sir, I would also like to hear from Mr. Narayana Murthy for a very little time. Sir, I would like somebody to announce the speaker number when the name is called out because moderator doesn't inform the speaker number and even the speaker number should be mentioned on the email which we receive. Sir, I would like replies to be given immediately, so that the same questions are not repeated. Sir, page 159. Every year we are transferring almost INR 2 crores to unpaid dividend account. If you see 2014, 2015 final dividend, only INR 6 lakhs has been paid during the year out of INR 1.55 crore. Why? Is the shareholder money belongs to our shareholders, so it should be given back to the shareholders rather than sending to IEPF. I would request the registrar and, say, company secretary to please move out of their air-conditioned offices and follow up with the shareholders. By just sending reminders, nothing happens. Because I'm talking from my own experience. I've got so many reminders. But when I apply for a duplicate one, they just harass me that, you bring this, you bring that. Please inform the company secretary that next year in the annual report, when they give like this for 15, 16 interim dividend, they should give right from the beginning. 15, 16 so much was outstanding. 16,17 so much was outstanding. If we know what effort the secretary and the registrar are putting to give the dividend back to the shareholders. This is shareholders' money. You cannot just transfer like this to the IEPF. Please remember that next year these figures are given in the annual report. Sir, thank you very much and all the best for the future. Thank you, Mr. Aspi. May I now request Mr. Jagdish to kindly unmute and ask the question. Good afternoon to all of you. Sir, Yes, sir. Hello, I'm audible? Yes, sir. We can hear you. Kindly go ahead. Company performance is already known to everybody. You, sir, have a very good dividend record, even INR 31 this year, and also a buyback of INR 11,000 crore. Sir, we stakeholders wish to know, as in the past company has given in 1914 a 1:1 bonus, again in 1915 a 1:1 bonus, then in 1918 a 1:2 bonus. We wish to know, matlab next when it will be. We can expect a bonus. Am I audible, sir? Yes, sir. We can hear you. Kindly proceed. Especially from Chairman sir and CEO sir, Parikh sir. Can you give me some light when we can expect bonus again? As company has a very good record and reserves and surplus generally very much. You are buying back shares, giving good dividend. When we can expect bonus, yes? Thank you, sir. I wanted only to this much. Thank you, Mr. Jagdish. Okay. I request the next shareholder, Mr. Pradeep. Mr. Pradeep, kindly unmute yourself and ask your question. Yes. Manikantha, am I audible? Yes, you are audible. Kindly go ahead. Okay. Thank you Mani. Good evening, Salil. It's a pleasure to talk to you, Mani and Salil. First of all, I would like to congratulate Salil for being awarded Business Today PwC Best CEO in large company category. I also thank Salil for turning around Infosys and bringing it back to its glory days. Salil के लिए मैंने कुछ चंद लाइनें लिखी हैं। उम्मीद है वो Salil को पसंद आएंगी। तो वो लाइनें हैं, "हम investors के सपनों को मिल गई मंजिल। जब से आपने Infosys को संभाला है Salil।" I hope and pray we all continue to grow. My first question is Income Tax portal issue caused some negative publicity. As you know, negative publicity spreads faster. What caused this issue and how we can prevent such issues in future? This was my first question. My first question, second question is so for revenue generation, we are heavily dependent on North America region. Please respond on these. Thank you. Thank you, Mr. Pradeep. May I request the next shareholder, Mr. Dinesh. Mr. Dinesh, kindly unmute yourself and ask your question. Mr. Dinesh, you have to unmute yourself. I am audible. Yes, sir. We can hear you. Kindly go ahead. हाँ, first तो sir मैं आपको और आपकी पूरी team को congratulation कहूंगा कि जो अच्छा मुनाफा हमारी company ने किया है, इतने critical period में भी हमारी company ने जो अच्छा revenue लिया है। ₹5 के share के पीछे ₹50.27 का earning है। वो एक अच्छी बात है। हमारे लिए भी गर्व की बात है कि हम India की top five companies में से एक company के shareholder भी हैं। खाली मेरे को ये जानना था कि हम अभी कितने number पे हैं? ये IT industries में हम अभी we are one fourth of five के अंदर है। तो जरा उसके बारे में हमें मालूम करना। और दूसरा ये जो आप कर रहे हैं, जो buyback करते हैं, बहुत अच्छी बात है। क्योंकि हम देखते हैं कि हमारे peer group की जो company हमारे सामने TCS उनका जो capital है, उसके सामने हमारा six time more than six time करीब seven times उनकी capital खाली ₹366 करोड़ है। लेकिन अपनी equity capital जो है ₹2,103 करोड़ है। तो ये जो आप कर रहे हैं, बहुत अच्छा काम कर रहे हैं कि अपने पास cash flow है तो वो पैसा use करके आप equity कम करते जा रहे हैं। वो उसके लिए बहुत अच्छी चीज है। खाली हमारा आपको एक suggestion था। हम bonus share के लिए नहीं बोलते क्योंकि equity double हो जाएगी। अब हमारा पाँच रुपये का share है। आप एक रुपये का या दो रुपये का क्यों नहीं करते? तो हमें एक mini bonus हो जावे। हमारा कोई structure में फर्क नहीं पड़ेगा। खाली paperwork में फर्क पड़ेगा। Shareholder के पास quantity जो है shares की वो बढ़ेंगी तो market में liquidity भी बढ़ेगी। तो हमारा जो trading है वो ज्यादा होगा और हमारा आज दो रुपये भाव करेंगे तो क्या मालूम next year यही भाव दो रुपये का share का, पांच का share का जो अभी भाव चल रहा है, वही भाव दो रुपये का share भी हो जावे। अभी जो हमारा पाँच रुपये का share ₹1,442 yesterday last trading था। जो अगर आप दो रुपये का करेंगे तो हम मानते हैं कि ₹1,000 से तो कम नहीं trading होगा हमारा share. तो हमें काफी a one type of bonus मिल जाएगा। बाकी तो मेरे आगे कई लोगों ने सवाल पूछ लिए तो मैं repeat ना करते हुए यही आपको suggestion करता हूं कि हो सके आप आपका board meeting में split करने का सोचिए। एक रुपया या दो रुपया जो भी आपको सुविधा है और ये आपका secretary department का भी मैं thanks करता हूं कि उन्होंने जो हमें update किया, दो तीन दफे हमारा trial meeting भी किया और हमें आपको बोलने का मौका दिया। उसके लिए उनको मैं thanks करता हूं और आप सभी लोगों को congratulation all the best. हमारी company आगे भी बढ़ती रहे। All the best. Thank you, Mr. Dinesh. May I request the next shareholder, Mr. Manoj. Manoj, kindly unmute yourself and ask your question. Hello. Good evening, respected Chairman, Board of Directors, fellow shareholders. My name is Manoj Gupta. I am an equity shareholder of Infosys Limited. I have joined this meeting from my residence Kolkata. I have great respect for our chairman because I had met once in my life when he was a chairman of Unit Number at the AGM of Calcutta Management Association in Kolkata. I have a great respect for Mr. Nandan Nilekani and convey my best wishes to our founder. Best wishes to our founder Sri Narayana Murthy sir, that he has given a visionary and iconic company to the country. That was a vision and dream for the young generation of the country. For that I will say a few words of Kabira that "कबीरा जब पैदा हुए जग हँसे हम रोए, कुछ ऐसी करनी कर चलो हम हँसे जग रोए।" That he has done the words of Kabira. Sir, what's the plan? Have you any plan to split the shares? Or you can do one thing. You reduce the face value of your share by rupee, INR 1 from five and pay INR 4 to each shareholder and like as recently the Supreme in the IPCL has done. They have reduced the face value from 10 to four and balance six they have paid to the shareholders. That you can do. Price is market price is same. So think about that and plan for new campus. Have you any plan to bring new campus in the northeast part? Because Assam and Tripura is growing fastly. A fast growing state nowadays in the eastern part. In Chhattisgarh, Raipur and other states are also growing. क्योंकि भारत तेजी से विकास कर रहा है, बढ़ रहा है और ये राज्य बढ़ रहे हैं, district बढ़ रहे हैं. Recently there was some negative impact on Infosys image due to some ITR problem. What's your view on that? Is that you should take steps that in future such type of problem should not come. Sir, what's the impact has come through Russia and Ukraine war on our company? Sir, have you any plan to give a job priority to young peoples those will come after four years from the Agnipath Yojana for the armed forces by the Government of India. Anand Mahindra, Tatas and several industries has come forward and to preferred priorities to young generation those will come out from the Agnipath Yojana. Sir, in some do something social job, something for this part of the country under your CSR foundation from the CSR. How you will reward to investors? Because your capital is INR 2,300 crore near about. I think you do not issue the equity bonus. You should issue the bonus debenture of 8% or redeemable after three years, four years to reward the shareholders. Try to launch some educational software for young generation from class five to 12. Like as BYJU'S and others education software system. You should consider that. Sir, I've attended more than 250 AGM last year through VC. This year I'm attending this is the 26th AGM. I have not find such type of disturbance in the AGM. I was not expected that in a highly reputed software company, I've attended TCS AGM, there was no disturbance. Without host, a shareholder can't unmute himself. In your AGM, I find that every shareholder has unmuted himself without host. How is it possible, sir? I surprised to see that my sequence number is 25. When I've got the notice on 27th May at 5:35 P.M., I send my request at 5:47 P.M. on the same day to register myself. Sir, kindly look into this matter and make sure that in future no one shareholder can unmute himself without a moderator permission. This is a priority, top of prestige of the company. In any company, shareholders can't unmute. We had missed to hear several shareholders view what they are saying in the AGM. Nothing to say more. I have a great respect to the chairman of the company. Thank you, sir. Thank you, Mr. Manoj. May I request our next shareholder, Kirti Shah. Mr. Kirti Shah, kindly go ahead and ask your question. Kindly unmute yourself, sir. Good evening, sir. Good evening. We can hear you. Kindly go ahead. Chairman sir, ये अपना telephone number क्यों नहीं चल रहा है? आपके जो management है, वो secretary department है, वो अपना mobile number क्यों नहीं देना चाहते? आज इतना बड़ा disturbance हुआ है। सारे shareholder ने आपको बताया है कि भाई हमें से आज इतना meeting में कितना problem हुआ है AGM में। बीच-बीच में लोग बोलते रहते हैं। आपने देखा होगा वो Gautam Tiwari जी। कितना Gautam Tiwari का मैं इस साल से पांच बार बीच-बीच में वो बात हुआ है। अभी ऐसा कैसे हो सकता है? ऐसा होना ही नहीं चाहिए। पहली meeting है जैसे Manoj Gupta ने बताया। वो सही है कह रहे हैं कि ये पहली meeting है कि ऐसा disturbance हुआ है और Infosys जैसी company, इतनी highly professional company और ऐसा सुविधा क्यों है? और ये जो आपका जो, ये आपने ये जो link बनाया हुआ है पांच-पांच को बुलाने का, करने का, कोई director तो आपको दिख नहीं रहे। आप खाली इसमें secretary दिखता है। Manikantha जी इसमें दिख रहे हैं। Chairman साहब कहां पे है इसमें? Board of director कहां पे है? मेरे को तो कोई नहीं दिखाई दे रहा है। ऐसे कैसे हो सकता है? Chairman सामने होना चाहिए, हमारे सामने पूरा board होना चाहिए। ऐसा क्यों है कि आप ही खाली अकेले देख रहे हो? ये बहुत ही गलत है। एक Infosys जैसी company और ये ऐसा करेंगे वो हम आज तक कभी सोच भी नहीं सकते थे कि management हमारे सामने ना दिखते। Chairman sir, ऐसा क्या हो गया है company में कि domestic institution ने 23% जो holding था last year, वो अभी 17% पे आ गया है। इतना reduce क्यों किया हुआ है? कोई बहुत बड़ा problem है कि क्या है? अभी जो आपका last quarter में जो profit आया है, वो भी काफी कम आया हुआ है। उसकी वजह क्या है? जो आपका March quarter का profit है, INR 5,177 crore है compared to December quarter INR 5,870 crore. Compared to last three quarter सबसे lowest profit है। उसकी वजह क्या है कि इतना कम profit है? आपका जो gross profit margin था, वो 21.50% था। वो come down to 18.88% in March quarter. आगे क्या future है वो थोड़ा भाईलाज करेंगे। Chairman sir, इतना बढ़िया company है अपना और अपना PE low क्यों है? Industry में अपना भी तो सबसे highest होना चाहिए। बाकी लोगों का इतना PE high क्यों है, इतना high PE पर क्यों share चल रहा है, समझ नहीं आ रहा है। अपना इतना low PE पर share चल रहा है। Chairman sir, अपना जो return on equity है वो only 31% है। वो काफी कम है। बाकी companies का कल meeting था Sona BLW का 41%, उसका है एक था PCS का भी अच्छा है तो अपना ये ROE इतना कम क्यों है और कब इतने अपने बढ़ने के लिए क्या plan किया हुआ है? और Chairman sir मैं आपको email कर रहा हूं, आप पूरा reply क्यों नहीं करना चाहते हो? इतनी बड़ी company है। अभी आपका reply नहीं आएगा। हमें तो ministry में लिखना पड़ेगा कि इतनी अच्छी company है और ये सब detail क्यों provide नहीं करेगा जो एक shareholder का हक बनता है कि भाई इसको shareholder को पूरी detail provide करना चाहिए। ये secretariat department तो कभी सोच ही नहीं सकते हैं कहीं reply करने का। अभी जैसे आपने वो shareholder ने बताया Aspi है, जो dividend के बारे में और ये सब सारा sales के बारे में उसके लिए जरा कुछ सोचने की जरूरत है। तो खास उसमें shareholder को खास benefit के लिए खास सोचना चाहिए। Chairman sir आपका जो cash and cash equivalent था INR 24,000 last year INR 24,700 it came down to INR 17,400 उसकी वजह क्या है कि cash and cash equivalent आपका काफी down हो चुका है। Chairman sir आपने जो investment किया हुआ है INR 20,000 करोड़ तो treasury की income कितनी है उसमें से ये अपना net profit है। वो थोड़ा highlight कीजिए कि treasury का income अपना कितना है। वो थोड़ा आप बताएंगे। Wish you all the best. Thank you very much. Chairman sir, I hope you reply my email full details. Thank you, Mr. Kirti Shah. This is just to confirm that all the board members are here and the board is taking note of all the questions of the shareholders and we will be replying. The board will be replying to all the shareholder questions at the end of the session. With that, I request the next shareholder. Mr. Ashish. Ashish, if you can kindly unmute yourself and ask your question. Hello, can you hear my voice? Can you hear my voice? Yes, we can. Can you hear my voice? Yes, we can hear you. Ashish Shankar Bansal from Bombay. Respected Chairman and Board of Directors, thank you for giving 23% dividend. As mentioned on page 16, 17, 18 there are many directors shown but nil shareholders. Why so? Page number 23, 90% vaccine has completed for employees when 10% vaccine will be completed. Thank you. Thank you. Thank you. May I request the next shareholder, Yusuf, to kindly unmute and ask a question. Respected dynamic Chairman. Very good evening, sir. Speaking from city of Mumbai. Sir, I am very happy with our secretary and his team hard work, Hemanth and very excellent performance sir. I am thankful sir for 372 pages balance sheet sir. That is very excellent and very happy sir. Perfect. Hello. Can you hear my voice? Perfect. Can I go further? Yes, sir. We can hear you. You can go ahead with your question. Yeah. Total on page 90, page six on track workers 25,947. Local supplier on page 48 for 14.98 and page 50. We are having a good quarter 2007. We started for the poor people and father. I am very happy. Sir, I also join our previous speaker. Sir, I am also very happy with excellent company Chairman and I also join our previous speaker for saying that when was the last bonus given sir? Many years passed sir, not given a bonus sir. Sir, आज आपका rate market में current को total losing है, sir। और sir, अपना अभी पांच साल हो गए, sir, आपने बंद कर दिया। Sir, अभी next अगर नहीं हो और आपका Bangalore में meeting हो, sir, मेरा humble request है आप Bombay में अथवा ITZ में जैसे पहले करते थे, ऐसा हमें भी sir करिए। क्योंकि अभी next year तो sir मुझे लगता है physically ही होगा, sir। अगर होगा physical तो मुझे sir Bangalore आना है। और sir, बहुत जन ने अपना request किया Mysore plant visit. Sir, मैं तो Mysore के लिए नहीं बोलूंगा। मैं sir Pune के लिए आपको humble request करता हूं, Chairman साहब। हो सके तो मेरा sir Pune के लिए जरा request है। Sir, dividend ₹15 interim and final ₹16, which makes total dividend ₹31. Sir, that is a very, very handsome. Sir, I am not complaining, your company, sir. आपका sir इतना अच्छा है अगर मैं कुछ बोलूं तो चांद के सामने सितारे बोल दे ऐसी बात है sir। आपका इतना अच्छा management है sir। जो आपने shareholder estimate है आज उसका सिर्फ चार गुना हो गया sir। return दिया है। आपने हर year sir bonus दिया है। आपने bonus का sir बरसात दिया है। अभी sir बरसात रुक गई है। अभी sir बरसात के time आए। अभी आपको बरसात करना पड़ेगा sir। मेरा humble request है। ऐसे board member sir मैं आपको request करता हूं sir हो सके तो हमें जरा Pune का visit कराइए। Sir maybe एक छोटा सा नाराजगी है कि आपका telephone number sir नहीं होता है। मैं भी सुबह से try कर रहा था। आपका Bangalore का telephone number नहीं है और Bombay का हो सके तो sir मुझे देने का जरा कृपा करिए। आपके company से या यहां से phone आ रहा था। Pooja madam को भी बहुत धन्यवाद देता हूं। आपका पूरा team बहुत hard working है और आपका balance sheet तो sir इतना अच्छा है उसके बारे में कोई नहीं है। Sir मैं balance sheet हमेशा रखूंगा sir। I will present the balance sheet, it is very excellent balance sheet. I have not seen an excellent balance sheet just like yours, sir. My humble request is next year be number one at present, sir. Awards bhi apne aage badhein aur aapko sir, award to aapke bas mein hai sir. Page number mein bhool gaya lekin we have won many awards sir. Is itna award jeetne ke liye sir meri shubhkamnayein aur apna secretary sahab jo hardworking sir unko aapne itna achcha secretary ko appoint kiya sir main unke sir shubhkamna ke liye bhi dhanyawad deta hoon. Sir itna hardworking aaj itna rare hai kyunki secretary sahab ki hard working ke isliye hi sir. I am very happy and I salute you, sir, for your hard working, sir. Thank you very much. We are very lucky to have just like you excellent secretary, sir. Nothing more to add. I end my speech saying goodbye. Thank you very much. Jai Hind. Next year, sir, we are meeting sir. Last sir, paanch saal pehle aap rakhte the sir hume rakhiye. Sir ek mera jo chhota sa amber narazgi hai sir. 29th May ko aapne Bombay mein rakha tha sir. Aapne hume bhool gaye sir. Aisa ho sakta hai sir jo aapke dil ke kareeb ho aap usko bulaye hain sir. Sir ho sake to next year dil ke jo kareeb hai sir, bhulo mat sir. Mera humble request hai sir. Haath jod ke aapko request karta hoon sir. Dhanyavaad. May God bless our company aur aane wale sab region ne full support di hai. Thank you very much and God bless our company with a good return. Sir, I also apna company chairman sahab ko ex-chairman aur apna pachi sal madam ne jo apne saath main kiya hai, unko sunke madam abhi retired huye. Unke liye bhi main unko sir hamari taraf se dhanyavaad dena. N. R. Narayana Murthy sir itna achhe sir. Unhone aisa award diya hai. Itna achcha unhone work kiya hai. Aaj apni company upar hai. Unki guidance ke hisab se hi sir. Thank you very much. Jai Hind. Nothing. I will end my speech. Thank you very much. Khuda hafiz, sir. Thank you, sir. Have a good day, sir. Nothing more to add, sir. Thank you, Mr. Yusuf. May I request the next shareholder, Jaydip Bakshi. Kindly unmute yourself and ask your question, sir. Good evening, Chairman. Managing Director, CFO. Myself, Jaydip Bakshi, connecting from the city of Kolkata. Thanks to our Company Secretary Manikantha ji for giving an opportunity to express my view and to the entire Secretariat department for conducting this video conference in a smooth manner. Sir, the initial presentation and slides depicted the scope of our organization. Sir, our workforce is around three lakh plus. Sir, are we scaling up more to capitalize on the expanding market opportunities as the digital acceleration is creating tremendous new opportunities. Sir, on page 36, we have invested in opening living labs, digital studios, proximity centers around the world. Can we come to know the locations of the same? Sir, effect on the global turmoil, sir inflation on clients and sir this digital transformation across industries as a result of this pandemic will now go with the latest technology trends. Sir, how are we planning to cope up with it? Our best wishes for maintaining the carbon neutral program for three years in a row. It's a good achievement. Sir, any new challenges, opportunities, we foresee to develop the new business and on page 120 you have written the risk factors. How are we planning to compete with the same? Regarding the cybersecurity, which is the main concern in digitalization. How are you also planning to cope with it? Thanks for the dividend passed on to us and the awards which we have received you mentioned in page 54. Also congrats for the ESG program and with the mission of vision of 2030 as climate change is the main cause of concern. Sir, can we have the recording of the Infosys Foundation presentation which was heard in the initial stages of the AGM? Sir, our IT portal, sir, regarding the hope of the initial glitches, have we overcome it and how are we planning to maintain it trouble-free? Sir, any new portal contracts in pipeline? Sir, request as by earlier speakers have given regarding campus visit. If you plan for, kindly include all our names. Sir, I hope under your guidance of the board members and create better opportunities for people and restore trust in our company and create value for technology led innovation. Thank you and all stay safe. Thank you, sir. Thank you, Mr. Jaydeep. May I request the next shareholder, Mr. Atanu? Atanu Saha, kindly unmute yourself. Yes. Namaskara. Good evening. I'm Atanu Saha from, sir, my respected chairman and board of directors and company secretary and CFO and all my respected shareholders present meeting sir, VC meeting, sir. Special thanks to our company secretary, sir, and his entire team to manage this seamlessly, sir. I don't want anything is necessary right now. My question is, what is our company future plan, sir? Do you expect Infosys festival? Infosys festival in the sense of physical mode as well as VC mode, which I visited 2017, 2018. And my third question is, do you expect bonus or split from five to one? And sir another question is, how company adopted green cloud and blockchain used by Infosys, sir. My question is, do you expect a campus visit, sir? Sir, I have some previous page, but I need some 2021-2022 page, sir. Balance sheet, sir. Sir, I wish to know our activities, CSR activities from then Murugesh sir our director. Sir, good year ahead sir with a good performance. Shubh sandhya. Namaskara. Thank you, Mr. Atanu. Thank you. May I request the next shareholder, Dinesh Kotecha. Mr. Dinesh Kotecha, can you go ahead and ask your question? Yes. Good afternoon to all of you. I'm Dinesh Kotecha from Bombay. Sir, first of all, I'm very happy that you have kept the meeting on Saturday, on the 25th, today, at 4:00 P.M. Now, after market hours on a non-market day, I'm very thankful for that. Please keep it on Saturday only, and this will help us, whether the market disturbance is not that really AGM. That is the first point. Second point is, I'm also happy for the integrated annual report which you have sent. Thanks for that. Thirdly, our annual report theme is One Infosys. Now, the performance of the company reinforces the annual report theme in a proper manner. The presentation given by Mr. Parekh was excellent. I mean, it was very good, and we got more clarity about the themes of what is happening at Infosys and how we are going to go further. Secondly, sir, why this VC AGM? A disciplined, orderly, physical AGM could have been held. When the 20-20 matches are held in big stadiums, where 50,000, 60,000, 100,000 people come to the stadium to watch the match without the mask, you could have easily hold the meeting without, I mean, this physical meeting, sir, in an orderly and a physical disciplined manner. That would have been outstanding because then we could have said that one of the big IT companies has held the physical meeting, right? Secondly, our management team results payout annual report business, what you can say, impacts all are above par. Let me congratulate you on that. Thirdly, now, you know, on page 114, I'm coming to page 114. I've got six pages, very small. On page 114 on opportunities and threats, you said that our journey to four-pronged strategy adopted, embraced since 2018. I would like you to evaluate that, how far have we reached in each of these strategy? Please give me specific answers for all the four points. What is the weaknesses in the threats that you have experienced during the journey till now? On page 158, so many people have already commented, but it will take me one minute to come to that page, sir. Yeah. There we find that the unclaimed dividends remitted to IEPF for the last six years is INR 5.69 crores. Can we add two columns there, sir? Two columns I want you to add there in the integrated annual report. One is how many shares you have transferred that amount and how many shareholders have been affected due to that. Add two columns, number of shares and number of shareholders for which you have transferred during the year. That would give me an idea, you know, what has happened. Somebody else has also asked what was the period outstanding last year and what is the period this year, so that we could know what was the movement in that IEPF. Also on page, next page, 159, shares transferred, also I want the same thing. How many shares were transferred to IEPF and how many number of shareholders were affected due to that? Sir, dividends: INR 15 is the interim, 16 is the final, which you have declared on face value of INR 5. Now, I would like you to give quarterly dividends like TCS. If we say we are competing with TCS to be number one or overtaking them, then if TCS is able to give us quarterly dividends, why we cannot give quarterly dividends? That is also a comparative fact to be noted when you want to compare yourself with TCS. Another fact, if you want to compare yourself with TCS is that from your equity of INR 5, you pay us INR 4 back as capital reduction. Instead of INR 31, you pay us INR 27. You pay us INR 4 back. You make the face value one, equity will come down to from INR 2,103 crore to INR 421 crore. Now, on that, the EPS at present, which is there at INR 52, will become INR 200. Now, all this will have effect on the market price and the market capitalization. Give a thought to this. I'm talking very seriously, sir, because this needs to be evaluated. When TCS is quoting about 3,500 etcetera, in that range, we are quoting very much less. For one rupee, it's 3,500, and for five rupees we are half of TCS, sir. Give a thought. Sir, on page 162. On page 162. There you have given us the shareholding pattern of people holding more than 1% share. Fine. Now, I want you to give me one thing. I want you to give me the holding of the 10 top shareholders who are resident individuals. From the resident individuals part, who are the top 10 shareholders. This you can give voluntarily. Now, don't give an excuse that SEBI does not require us to give this, and so we'll not give. That is not the point. The point is how much voluntarily you are doing, because we will know from the resident shareholders who are the top 10 shareholders. That will also give us an idea of which top 10 shareholders have got the trust in your company and who have invested in your company. So we can also understand their strategy of investing in your company by their holdings, sir, in the company. Now coming to page number 185. Now disputed cases. Mr. Dinesh, if we can kindly wrap up. Sir, I am speaking only to the point. Three points remain. Please give me some time. Sir, disputed cases under several statutes in India and outside India. It must be shown separately year-wise as gross amount deposited or paid in dispute, and net amount. That will give us more clarity to understand the position of each of the disputed cases. Now, the amount is INR 7,095 crores in total, and that is 3.37 times the present equity capital. Now, what are the legal expenses incurred to fight or defend these cases? What is the position as of today? What feedback and suggestions have you received during the year or previous year which were implemented or which are still being implemented for better results? Lastly, how do you visualize the company would be after five years or 10 years from today? Is the revenue increase on a constant basis or a comparable basis foreign exchange wise? Lastly, sir, one more complaint is there. Do you have to listen to this complaint? Your GST portal and IT portal messed up. There were blips, disturbances during the year. Why this mess? There are five lakh income tax chartered accountants who are following you, who are to. I mean, day and night we have to work because of your blips and your faults. You have to do it seamlessly, sir, without a mistake, without a hitch, and without a blip. Then only we can say that, yes, your services are really world-class. This is putting a black patch on our image, sir. You must improve upon these services for the benefit of the tax practitioners and the chartered accountants that are there. This you must give a point, and I want an humble narazgi from Miss Nandan Nilekani, because I find that today's meeting is like a Lok Sabha meeting. There was some backstage we were told when some speaker was speaking that, Roshni and your Puja were speaking in between, we could not hear anything. Then again, we come to the front stage. What is all this going on? Why can't you keep the meeting properly? It should be conducted properly, sir. We expect that Infosys must follow the highest standard of keeping this AGM, if you want to keep it VC AGM. TCS was very successful. It was without a single problem that TCS meeting was held. I also spoke in the TCS meeting. In TCS meeting there were 70 speakers. Everybody spoke. There was no problem. Here there are 37 speakers and so much problem is being created. Give a thought to this, sir. We are small shareholders, but the small shareholders' voice must be heard in the proper sense. We are not taunting you. We are not blaming you. Systems must be improved when you are communicating with the shareholders once in a year. Thank you very much. Thank you, Mr. Dinesh. May I request the next shareholder, Shailesh Mahadevia. Mr. Shailesh, kindly unmute yourself and ask your question. Respected Chairman, distinguished directors, and the members of the company. Sir, I'm thrilled to be present at the AGM of Infosys, one of the leading companies of India and also in the world. Sir, we brought our company to prominence in the initial years of our establishment, when the whole world came to know about the IT services being provided in public. Sir, I also appreciate that the board of directors will take all possible care to ensure that the results of our company are to the satisfaction of everyone. Sir, I am also confident with the report which has been given to us and the details provided, and the secretarial department responded instantaneously to my request. Sir, having made all these observations, I would now like to put some questions with a view to increase my understanding and appreciation of our company. Sir, my first question is that what is the economic value added of our company? In arriving at that figure, what rate of interest we have taken into consideration? Sir, my second question is that during the year 2022, world growth figure, world economic growth figures have been reduced from 4.2% to 2.8%. Sir, may I know what this forecast is likely to affect our business during the year and in the following year? Sir, my third question is regarding the CSR activities which are being done by our company. Congratulations for all that. Sir, have you studied the economic impact of the CSR work which is being done by us? Not only the company, many of the employees also participate in this particular effort, and such a figure will give us an idea the real contribution of our company to the society at large. Yes, Dr. Mahesh. Sir, my last question is regarding ESG. Sir, we are one of the best companies who is following all principles of ESG. We are also giving our excellent result. Sir, what I would like to know is whether our ESG has been rated by some of the internationally known rating agencies. In India, even CRISIL cannot do the rating as we are not yet permitted by the regulatory authorities. Sir, if you can throw some light on this, I will very much appreciate. Sir, let me tell you that if I see the directors in front of me, I feel very happy and I feel very satisfied. At present, I can see only the secretary and the Salil Parekh, and in between our chairman comes for half a minute or a minute. Sir, make it sure such an excellent technical company. Why can't we have such a presentation when we have all the directors in front of us and when we can see them, and you are of course seeing to us. With this, I wish our organization excellent success in the times to come. Thank you very much. Thank you, Mr. Shailesh. May request the next shareholder, Mr. Mahesh. Mr. Mahesh. Sorry, can you- Hello, sir. Yes, please go ahead, please. Hello? I cannot able to see my, this. No name, no my video, nothing. We are able to hear and see you, sir. Kindly go ahead and ask your question. Not called my name also. Not even I can able to see my name displayed. No, nobody called my name. Mr. Mahesh First of all, who is conducting the meeting? Chairman of the meeting or the company secretary? You having no right under the Companies Act to call the meeting. Just it met, fish market. First time I attended the Infosys AGM, and since my childhood, when I attained the age of 21, I'm attending so many AGMs in Kolkata, at least 1,000 AGMs in Kolkata every year. For last year, I am on the virtual meeting. You having no control over the financial affair of the company. Only the board of directors having to answer the question of the shareholder. It, we cannot able to hear a lot of shareholders their views. Why you are not calling all the individual shareholder to the chamber and making the AGM separately? It is not the system. Listen to me properly that it is not a compliance of the Companies Act, 2013. I'm very much fed up. This is the I mean, mainly this company's shares held by Americans and 62.25% shareholding by the Americans. Why you are not arranged to all the American shareholders to join this meeting properly? Why you are not held at 9 P.M.? Why you are holding at 4 P.M.? When the Companies Act having the already written that the company AGM must be held in the office hours, 10 to five or nine to five. Why you have started meeting at 5 P.M. 4 P.M.? A lot of shareholders are there, more than 50 shareholder, I think so, and nobody has attending properly. We cannot able to hear the other, sentiments of the fellow shareholders, what they are saying. Only you have given some shareholders only the weightage. They are coming to the stage and giving proper. Because there is some, private, this, where is the chairman? I want to interact with him. When I came 2013 and, phone to the company secretary, he refused me not to come to my registered office to see me. Why? Shareholder can able to go to their, company's office, then able to discuss something. I came from Kolkata, but you refuse. Why? What is your right to refuse to shareholder to come to registered office? This is not the way of running the company internationally. Infosys. What Infosys? Day before yesterday, I joined, this, Hindustan Lever. Yesterday, I joined this Voltas Limited. Both are Hindustan Lever is also American company, having the very good reputation in the market. You see, Hindustan Lever paid this year dividend of INR 34 out of their earning INR 37.53. They kept INR 3.53 retained and INR 34 they have paid for one rupee share. What your five rupees face value share, you are running earning INR 50.29, and you are paying only INR 31. That is also taxable this year. If you less the 3.5% TDS and this surcharge, it will come to INR 27.5. Last year it was INR 27. Your company work is executing a work in lakhs and crores of rupees. The margin is also very high because it is IT company. Hindustan Unilever Limited is selling INR 50, INR 100, INR 200 article. Their margin is so high for consumer goods when entire world is in the IT sector. If you go to share market, every person will say that IT share. Then what about your share? What is the reputation of this IT business in India? A lot of shareholders discussed a lot of things about the mismanagement of the AGM. You see, in the financial highlights on page number 70, you had shown the data of the revenue from operations and income, etc., everything. Profit before tax percentage of revenue, when your turnover is higher than last year, this profit is also higher. Why you had put here the profit before tax percentage revenue 27.4%? Last year it was 28.50%. Is this figure wrong or the data is put here wrong? When earning is high than last year, profit is high, then how this figure percentage has come down from last year? Now you come to this Investor Education and Protection Fund. A lot of new shareholders discuss about this. This Investor Education and Protection Fund mainly suffered by the Americans because they are holding 62.25%. What was the image of India in America? That they are just transferring the money of their wealth to the Investor Education and Protection Fund, and even you also know very much, because this is IT company. You are also professional person. Lot of professional person has started NGO and taking money from the IEPF and enjoying in five-star hotels. What are doing by all this in the market? It is shareholders' blood money. Blood money. Which you are transferring to? What action you have taken within the seven year to reach this money and their wealth to the real investor? Mr. Mhesh You have not taken anything. Kindly- Do you have any reminder sent to them? Do you have to publish in the newspaper all the shareholders list that your money is lying with us, we will send to? No. Come to this distribution of this shareholding pattern. Request you to. Your foreign portfolio investor is 33.30. Your promoter holding is only 13.11%. Indian resident shareholder is 10.77%. Your American Depository Receipts is 15.84%. If you add these American this category, it will arrive to 62.25%. Only public shareholder is 10.77. This is the company in India. Why Indian shareholder will not be benefited by this company exist in India? Why you are not. There is a guideline of the Government of India that Indian public must be minimum 25%. Why you are not increasing this public shareholding pattern? You are discouraging to the Indian public shareholders by only 10.77% holding by the Indian public. Why? Out of this 10.77%, your employee quota will also come here. This category will include the- Mr. Mahesh kindly as your question. What do you want to say? One thing lot of the shareholder has asked you that why you are not publishing ten. If you see on page number 162, your two to 10 shareholding are maximum in the c-category. You had given the distribution of shareholding pattern, where two to 10 share only having the 767,127 shareholder is the maximum in the category. So why this small shareholder only are interested in your company? Why not Indian major shareholder are also interested in your company? Due to the mismanagement. Mismanagement by the Infosys. Only that flaw in the market, that Infosys. What Infosys? So many company giving the good return. Tata is still giving INR 51 when the. That is a core industry. Steel industry. They have been. They are given the INR 51 dividend this year. What about this IT company? Your question. I'm not asking a question, then I am giving the story, my, this nightly story to you. Why you are disturbing? If we can please Why are you disturbing? I having the right to take any time as per the Companies Act, as per the Constitution of India. You see, this company is majorly by the main promoter is America. So why are you not giving the data in the this 62% holding by the American? Why are you not giving the data in dollar? When this company is here also in the New York Stock Exchange, why are you not giving the data in the New York Stock Exchange in the dollar? Why are you not giving the detail that how much dollar dividend, how much you are paying in the dollar to American? How much the dividend unpaid is also. Why you are not giving the data that how much shares, physical shares, which is going to investor education, why you are not giving the complete detail in here? I will not take much more time. I will not go through all the. If I will go through the, all these, this, you having the subsidiary of 81 subsidiaries. Out of that, 18 subsidiary are in the loss. It start from the first number to the subsequent number. In first page and second page, a heavy amount of INR 82 crore, INR 35 crore. American subsidiary, they are also making losses. Why you are closing down on the subsidiary? Why you are reducing the this loss making to the profitable making company? Because it will be, this loss will be subtracted from the our main. May we request you to wrap up your question. Mr. Mahesh, kindly request you to wrap up the questions at the earliest, please. I had not gone through all this. I only seen the highlights of this, your Directors' Report. You had given 372 pages of the Annual Report and this report- Sir, kindly close the. With a 168-page. It's a directors report, management discussion report. If you read out the entire this 300-400 pages, how much time will it take? Only if you go through 400-page, how much time will it take? Why you are so- Sir, if you want to ask the questions and send across. Why are you so disturbing to the shareholders? Since beginning, I am seeing that lot of shareholders we cannot able to take their views. Why are you not giving the two cameras here, one of the board of directors, what they are feeling when other shareholders are saying their opinions. What is the sentiment of the other shareholders and chairmen? Sorry, the directors and chairman for whatever the query raised by the shareholder. This is IT company. You are responsible for everything, for the shareholders' benefit. I will not take much more time, perhaps. It is a worst company in the IT sector. Thank you very much. In India. As far as my knowledge is concerned, it is the worst. Infosys is the worst company in India. I cannot expect. I just joined. I understand what is the status of the Infosys in India. Otherwise there was very much for that Infosys. What Infosys? If you see the Honeywell, lot of other companies, TCS, what are their status? What are their marketing status? What are their relation with the shareholders? I'm shareholder of all companies in India. I'm a legal practitioner for the last 50 years. Company law matter. You know very much. Don't harass to the shareholder. Now this all people are going to from illiteracy to literacy. Now, India is moving for literacy. Going for next 10 year, 100% literacy. Even the villager people are also going to literate. Sir, we request you to kindly. Not to think that all are fool. All are fool. Don't feel like this. Sir, kindly ask the question and then. I am thank to all the board of directors, chairman, company secretary, and CFO listen me patiently and also the colleague shareholder who are also online listening my speech. With this remark, Vande Mataram. Jai Hind. Thank you. Thank you, Mr. Mahesh. Sir, I am waiting. Sir, Gautam Tiwari is waiting for my turn because I'm not able to speak with anybody. 24 number. Please go ahead. I'm speaker number 24. Please go ahead, sir. Okay, sir. Sir, I'm very sorry, sir. Somebody spoke my name that I was disturbing, sir. I'm not here to disturb, sir. I've been attending the meeting since last 40, 50 years, and I'm a chief engineer in the foreign shipping concern. Kirti Shah spoke that I disturbed. I never. I was trying to contact Pooja or somebody. They were saying that this is away the number. I was not able- Please go ahead with your question, sir. Yes, sir. Sir, first of all, I got a very great respect, sir, for you. Very honorable, respectable chairman, sir, Salil, Nandan Nilekani Ji, Salil Parekh, our Manikantha Ji. These are all, Salil Parekh. All these are the reputed and world-class people, sir, those who have invested in Infosys, right? I'm a day one investor, so they are all sir. Anywhere, anytime you invest in Infosys and you will be more than happy and, we can have a sound sleep. I really very much salute you, and I respect you like anything for having given such a good earning to the not only dividend-wise, but stock split-wise, but even the bonus-wise and the share appreciation-wise also. Right from beginning and even now also you are giving. I am very much happy, sir, about it. Moreover, sir, please, sir, only one small request, sir. Sir, please give somebody's number, authorized one or two persons in the secret department, so that we don't know whom we are talking when we are online. At least we can speak with them that, some problem is coming. Because when they sent me in the green room, sir, my audio vision, audio was lost. I was not able to see anything, so whom I will ask, sir? That is why I spoke. I never knew that it was going to disturb the speaker. We are not people of like that, sir. We are all executive engineers, so you can understand. Sir, moreover, I salute, sir. I have taken a special time block for speaking with you and interacting with you. I really salute, sir. It is the godly person whom we have got, N. R. Narayana Murthy and Sudha Murty, selfless service for 25 years. The way that you have been servicing our company and our department and the shareholders and stakeholders, I really salute you. Not only Indian people. I have traveled abroad. 90% of the foreign countries, I have seen that people very happy with Infosys working and Infosys rewards the shareholders and stakeholders. Sir, excellent CSR activities for which I again thank you very much and congratulations for winning various awards and accolades, sir. I would like to say, sir, one thing. So far I have been a shareholder from day one, but I have not seen your IT park. Sir, kindly do something when the COVID is over to make sure that those who have been there with you for a long time or those who have been attending this meeting here, so kindly make some arrangements so that they can see our company's working. I'll be highly obliged and grateful, sir. Sir, what is the attrition rate of our company? Because we are giving training to the persons when any employee joins our company, rather executive or engineer. So that, if that employee leaves earlier, we miss upon whatever we have spent. So what is the attrition rate? We would like to know. What are we doing to stop to get that attrition rate minimized. Sir, we have got, I mean, permanent. How many permanent employees and how many casual employees, and what is the male-female ratio, I would like to know. As it is asked, sir, EVA and EGA, of course, if you can answer, I'll be very much obliged. Rest all nothing to answer. We are very happy, and we once again congratulate you and wish you a very long, happy, healthy, wealthy, prosperous life in the days to come. A very bright future. I am very sure those who have invested in Infosys, this is the opinion I have got worldwide, that Infosys investors have never, ever cried, and they are having the sound sleep, and they are very happy. Instead of keeping the money in any bank or reserve bank, it is more reliable than the reserve bank and more profitable than anything else in the world, for which I really appreciate. I'm very sure in the days to come you will also keep on giving such benefits to shareholders. Your abilities and your selfless service is beyond expression of the thoughts and words, and I salute. Sir, on 29th May, I have come across a reading that you had kept some get together here in Bombay, but we were not invited. We are one of your strong senior and day one shareholders. I think you will take care of us and sometimes we would also like to see the IT park. Sir, rest all is fine. I once again wish a very bright wish for the company. Thank you very much for the best sophisticated working and best sophisticated listening and so much humble and polite nature of yours. I once again salute. Thank you very much, sir. God bless you with the choicest heavenly blessings always and forever and ever. For long, happy, healthy, wealthy and prosperous life. Thank you very much, sir. Salute to you, sir. Thank you, Mr. Gautam. Thank you. With this, we conclude the question session. Before I hand over to Chairman, just to confirm that we have all the board members attending this AGM from various parts of the world, and they are all taking note of the questions which was raised by shareholders. The only reason you may not be able to see them is because you may be joining from a handheld device where the view may not be a multi-view. Therefore, you may not be able to view. It comes only for the person who is speaking and the person who is listening. Please take note that all the board members are participating in this AGM. With that, I'll hand over back to Mr. Chairman. Thank you for all the questions, and thank you for your patience. If any of you faced any technical challenges, my apologies. We are very, very serious about our shareholder feedback, and let me assure you that the entire board was sitting very, very intently through the entire questions. We have recorded your questions. We are answering all the questions, and we are here to serve you. We take our shareholders very seriously, and we look forward to engaging with you today and in the future. Thank you very much. Now, we will be providing the answers to the question shortly. I would request the team to display the questions received on the web chat and play videos which showcase the work done by Infosys during the last year. Once again, thank you for your patience, and we are very, very grateful for your feedback. The peaceful and serene landscape of Kodagu, Karnataka hides the dark scars of a natural disaster that changed the course of rivers, wiped away villages, and caused untold human suffering and loss. It was August 2018, and across the district of Kodagu, what seemed like ideal rains for the cultivation of coffee was turning into an incessant downpour. Unbeknownst to the residents, these rains would change their lives forever. The devastation wrought by the flood created an unprecedented challenge for the district administration, which quickly launched relief measures to help those in need. This need for housing was soon brought to the attention of the Infosys Foundation, an organization which had vast experience in providing relief and rehabilitation after natural disasters. With the understanding that a safe home could provide comfort and security and help rebuild shattered lives, the Infosys Foundation embarked on a mission to create 200 homes in Jambur, a small hamlet in Kodagu, Karnataka. First, the government identified land that was safe from the danger of future landslides and could be developed into a residential colony. Next, the Infosys Foundation took charge of the site and began construction work on the homes. This would prove to be particularly challenging given the terrain and the vagaries of weather. With a keen eye for quality and aesthetics, the houses that were being built could now be considered as homes. They should have food and shelter. We have tried to give them the basic need, that is building a house for them. Today, these 200 homes represent 200 families that will receive hope. A hope and belief that the future will be better and more equal. One where the Infosys Foundation has given them comfort and safety, so that they can go forth into the world and create a better tomorrow. We will now begin the answers to the questions. We have combined the questions from the live session as well as the web session, so we'll have one round of answers from everybody. I will start with my questions. I have four questions. The first question is: Is the future all about Metaverse? How Infosys is seeing Metaverse in the next five years? Answer is, we have created an ecosystem called a Metaverse Foundry. This foundry is equipped with 100 ready-to-use use cases, business cases, and execution roadmaps, helping enterprises across industries find value in the Metaverse and the flexibility to ramp up and down their exploration at will. We are one of the first few system integrator in the world which actually created a foundry for the Metaverse. The second question. This first question was from Rashid Jain. The second question is from Bindu Satish Chandra. The question is: What is the women to men work ratio? Can we have more women directors on the board? That's two questions. Answer to the first question is, the percentage of women in the workforce of Infosys group is 39.6%, and which we want to expand to 45%, which is as stated in our ESG 2030 goals. The nominations and remuneration committee headed by Kiran Mazumdar-Shaw focuses on having diversity on the board, gender, nationalities, skillsets, industry background, et cetera. We currently have 25% of board members as women. The third question from Sadananda Sastry is: How is the Infosys Foundation structured post-retirement of Mrs. Sudha Murty? The answer is, a trustee board has been set up under the chairpersonship of Mr. Salil Parekh. We have four other trustees, and the same information is updated on the foundation website. Foundation continues to report to the CSR committee. We also have a program director's office to run the day-to-day operations of the foundation under the able guidance of the trustees. The vision and the focus areas are primarily healthcare, education, and women empowerment, and the foundation works towards the expansion of the same. The final question I have is: Will the company consider to provide jobs under the Agnipath scheme? From Manoj Kumar Gupta. Answer is, Infosys recognizes the potential of the Agnipath scheme introduced by the government. We believe this is a great opportunity for our youth, not only to start their career in a very disciplined ecosystem, but will help also build skills for their future career. Infosys is always looking to expand our talent pool, and we will follow our well-established selection criteria while recruiting employees. With that, I come to the end of the questions that were directed at me, and I hand over to Salil to take his questions. Over to you, Salil. Thank you, Nandan. Once again, good afternoon and good evening to all the shareholders. Thank you very much for all the questions you have shared with us. Once again, I want to just assure everyone that we are extremely focused on all the questions you have put forward, and we will continue to work to see how we can make improvements in the company as we go ahead. I'll go through the questions. There are several questions, so I'll go through them one by one. First question is from Mangesh Govindrao Deshmukh. This was about the Ukraine-Russia situation affecting Infosys. What we have seen today, Infosys is very much in support of peace in the Ukraine-Russia conflict. We very much support every effort to help all of the people that are being impacted by the situation. We have no work or business in Ukraine. We have a very small team of people, less than 100, in Russia. We have initiated the steps to transition the work that they're doing outside of Russia. We are not serving any clients which are Russian in that team. There are clients which are global clients which were doing some operations in Russia. We have also created a contribution to help with the situation from our CSR activity to make sure that whatever support we can provide in terms of rehabilitation of the people displaced. This is a fund of $1 billion. The next question is from Krishnendu Chakraborty. What is our view on the permanent work from home for employees where possible? The way we've looked at this and the learnings we've had in the last two years, we've had very good success in the remote working or work from home. We have put in place for the future a high level of flexibility, which is based on what our clients are looking for and what is in the best interest also of the employees. We also understand and see what many employees have also said, that there is a need for the social capital and connect, especially as new college graduates join and they learn over time as they work on the campus and with people. However, we are very clear that going forward there will continue to be flexibility in the way the employees will be working to ensure the most efficient way between work from home and working on the campus. The next question is from Parasmal Lunawat. Here the question is about the work we are doing for the income tax department. On the income tax department, over the last year, over seven crore returns have been filed. Already in this year, over 40 lakh returns are already filed. Last year there were almost two crore statutory forms that were processed. This year we are close to just under 40 lakh on the statutory forms as well. The system is now working in a way that is reflecting all of the changes that were put in place. There have been in the last year a significant level of refunds that were processed and completed by the system. We continue to work with the government and the department to fulfill the vision of a Digital India and making sure that it's the best approach that can be put together between the department's objectives and what the citizens are looking for. The next question is from Kandaswamy Shanmugasundaram. The question is about attrition. Our attrition in the last quarter has come down from the previous quarter. In Q4 of the last year, it has come down from the Q3 of the last year by five points. We have put in place several steps to look at what are the basic issues which result in the attrition. We have increased much more the employee engagement. We have increased much more the way employees look at their careers and the progression through it. We have put in place multiple changes with respect to compensation. We see all of our indications that attrition is coming more and more in control. We are also seeing that with the level of attrition we had, we were in very good position nonetheless to fulfill all of our client work and make sure the client delivery continued to be successful. The next question is from Amar Harish Srikantaiah. Here the question is about what Infosys is doing to serve the preservation of our planet with the help of the technology. There are several examples in this, where the company actually over the past 20, 30 years has been at the forefront of the sustainability work. Several years ago, the company put in place a solar farm, which has helped us to generate a significant level of electricity that we use. In part that and many other steps helped us to become carbon neutral in 2020, well ahead of the date 2030 that was set by the Paris Agreement. We also have a lot of focus in technologies which are helping on water preservation and recycling on the campus. In general, there's an ethos within the employees and across the company to focus on what is important for helping with the sustainability in the planet. Next question is from Shruti Saraogi. The question was about acquisition. Is there a big acquisition on the card? Here, as you may have noticed, we have done about eight acquisitions or so in the last few years. Very concentrated on this digital pentagon and the areas that we work on. For example, we did something on the cloud in Salesforce. We've done something on the experience digital studio. We've done an acquisition on ServiceNow. Now looking ahead, we also have a pipeline of acquisitions that we are looking at on an ongoing basis. At the right time, when there's a strategic fit, there's a cultural fit, and also the price, et cetera, works out. We announce and make the acquisitions. We will continue to look at that because we have a good and strong balance sheet that will help us on that. The next question is from Gaurav Jamdar. The question was about the patents. How many we have filed in this year? The number of patents we have filed across our portfolio is over 680. Several of the platforms that we have are built on the IP and the patents that we have put together. The next question is from Hiranand Kotwani. Does Infosys conduct training for preventing women's rights violation? Here, the answer is the company undertakes regular training for employees when they join and through the time to make sure that they have a clear understanding of the way to make sure that some of these things are not happening at all. These awareness trainings are also reaffirmed by periodic updates all through the time that employees are with the company. The next question is from Reddeppa Gundluru. The question is about the guidance for FY 2023, which is the growth guidance is 13%-15% growth. The question is, it's lower than the growth we saw in FY 2022. What are the reasons for that lower guidance? Here, the way we build our guidance is, we look at what we see vis-à-vis the demand in terms of the market itself and the way we see what has happened with our portfolio in the year coming up to it. Based on all of those factors, we have visibility for several months into the financial year. With that visibility, we start with the guidance we have at the beginning of the year. The guidance is also based on what we see happening in the first half of the year, and what we then estimate for the second half of the year. As the year progresses, we get a better idea of that. At this stage, we see a very strong demand, which gives us a good view at 13%-15% growth. As we go through the year, we will see how that looks every quarter. The next question is from Vinod Motilal Agarwal. The question is about the fact that we recruited 84,000 college graduates last year, and if they leave, do we recover the cost of the training? Here, the way we look at this is the training is really an investment that we make in the employees. We make sure that the employees get the best training. Even in the industry, it is recognized that our training is considered one of the best across. We have a campus in Mysore that we've used historically. We also have an online training platform called Lex that we look at to make sure that employees can use that training. We also look at what the employees do and how they deploy all of that training over a period of time. We expect that the employees will contribute and help the company from the training that they've got. The next question is from Vinod Agarwal. This is on cloud services. Our cloud services is giving us more revenue and is working well. 5G is also a new technology. Are we leveraging this for our AI, particularly the autonomous driving cars? Here we are seeing extremely strong traction in cloud, as you pointed out. The Cobalt platform capability set that we have built has all of the tools that our clients need for the cloud business. In 5G, we have a very advanced set of offers, especially focused on our telco clients, but also working in partnership with many global telcos for our clients in other industries and verticals where 5G will have some direct benefits. We also have labs where we are doing work on artificial intelligence in the autonomous car, and we are supporting that work with the work we're doing with some of our clients. The next question is from Abhishek Jain. The question is: How has the business of the company been impacted during the last two years of COVID? Now, here, while the COVID, when it started, it had a tremendous impact on a medical basis on all of the population around the world, and especially in many of the markets we are in India, in U.S., in Europe, in Australia. One of the things that we were able to very quickly do was to move our work where it could allow all of our employees to work from home. Now this was made possible because of the steps that were taken several years before that. We had put in place the infrastructure which could allow multiple parallel usage of bandwidth at rapid pace. We had put in place a technology that could allow working from home. We saw that even in the first year of COVID, within the first two, three weeks, we had actually deployed the vast majority of our employees who could work from home. Even in that financial year, we grew at about 5%. We were one of the very few companies that actually grew in that year, in part because we had made some of these investments and technology infrastructure ready before the pandemic hit. The next question is from K. Bharat Raj. The question is: In the Ukraine war, how much revenue are we losing because of us shutting operations in Russia? Now here, the work we are doing. So we have no work that we're doing in Ukraine. The work in Russia, we have less than 100 people on projects there. We are now transitioning that work over to other locations in Eastern Europe. In terms of the size of our business, we have no real impact in terms of revenue from this activity. The next question is from K. Bharat Raj. Why is the company not doing business in South Africa? What about Nigeria and Kenya? Now here we do have a presence in South Africa, and we also have a presence in the African continent. We are also looking as we go through in the next phase of our strategic development, some growth opportunities we see, for example, in other geographies in Europe. We are very much focused in a very particular way, especially some of the work we do with our Finacle platform in South Africa and other African countries. The next question also from K. Bharat Raj. How are we going to manage the threat of recession looming over the U.S. economy? Today, what we see is that our pipeline of work is really strong. We continue to see good traction with our clients. We are well positioned in the growth areas which are digital and cloud. We also have a very good portfolio in automation and efficiency and cost-related areas. We are well poised to work with clients as they look at different things over time. At this stage, we see really strong pipeline and growth. We still have a very strong set of deals that we're working on within our large deal program. Our growth guidance remains at 13%-15% for the year. The next question is from Mukesh Ajmera. What is iCETS as we call it. Please explain how this applies to business models. Now this is a group within our company which is focused on new advanced technology thinking and development. This is something which is sort of our way of looking at R&D, our way of looking at newer technologies, and what the impact of those technologies could be across our portfolio and where we could go in the future with this. We are very excited by the work that this team is doing. We've seen some good progress. For example, we mentioned earlier about the Metaverse Foundry. This was something that was developed by this team in terms of a concept very early on, and then our larger team put together the specific elements of it. They're also working today, for example, on areas like quantum, Web3 and things which will come more and more in the future. The next question from Aspi i Baramsa. Are you seeing any macro level recession in the US, and how is it expected to affect Infosys? Here again, we have a strong pipeline of work today. We don't see anything which is slowing our business down in terms of technology. Of course, we read and understand what is going on with all of the work, all of the actions on interest rates and inflation. We remain focused on making sure we see what the impact of that has in the future. At this stage, our pipeline remains strong, and our guidance for the year is at 13%-15% growth. Do you expect the European growth to continue, or will it be impacted on account of Ukraine? Sorry, this question also from Aspi. Sorry, this question from Aspi Baramsa. The question is: Do you expect the European growth to continue, or will it be impacted on account of Ukraine? Now, Europe is a significant area of business for us. We see our pipeline in Europe today remaining strong as well. We have not seen any impact today on our client base through what is going on in Ukraine. We are keeping a clear focus on this, and we will see what impact, if any, it has in the future. Our focus in Europe, we have a strong business in financial services, in retail, in automotive, in pharmaceutical life sciences. It's spread across many countries, U.K., Switzerland, Germany, in the Nordics, France. At this stage, we see the pipeline with those clients in good shape. This is from Dinesh Kotecha, the next question. How far has the company reached in its four-prong strategy that it implemented four years ago? This strategy, which focused on digital, on automation, on reskilling, and on localization, has done well for the company. On digital, we moved from about 25% to just under 60% of our business. On automation, we've seen greater and greater impact with the number of roles that we've been able to support through automation, both with our clients and also within the work that we are doing here. In localization, we've changed quite significantly in many of the markets. For example, in the U.S., more than 70% of our employees today are local employees. On reskilling, we've had a tremendous focus on reskilling all of our employees through the newer technologies. In each of the four areas, we've seen good progress, and a strong result or outcome, from those initiatives. Those were the questions that I had. Thank you again for all the questions from the shareholders. With that, let me pass it on to Nilanjan. Thanks, Salil. The first question is from Satyanarayan Bhardwaj Prakash. Why is the company unable to meet the mandatory CSR spending obligation for the past three years in a row? The company engages in multi-year projects where the spend spread across the financial years. The company has a time period of three years to complete the projects, hence the carry forward in the last couple of years. Question two. Is there any chance for bonus or buyback during this year? This shareholder is Vasimichala. The board will consider bonus issues at an appropriate time in the future. Regarding buyback, our capital allocation policy calls for returning 85% of our free cash flows back to the shareholders over a five-year period from FY 2020 to FY 2024. There are three components to this: dividends, buybacks, and special dividends. The board will take a call on any buyback at an appropriate time. Question three. How many MSME vendors are associated with Infosys and the value of business with such vendors in line with the PM's vision of developing MSME vendors for economic growth of India? And the shareholder who's asked this is N. Nachiappan. We had over 550 MSME partners in fiscal 2022. The value of business with such partners is approximately INR 2,250 crore. Question four. We are a net exporter with large cash flow hedges. RBI has announced new hedging instruments. How does the company plan to adopt such new hedge instruments? And the second question is, out of this, premium is coming down from 4%-3%. How are we leveraging it? And the shareholder is Pratik Gadhia. The company has a very strong treasury team which analyzes all the hedge instruments available from time to time and takes a balanced decision keeping the risks involved. We take short-term hedging positions due to volatility in currency markets, and our hedging policy is focused on offsetting the impact of translation on our balance sheet. We have had 26 consecutive quarters of positive Forex gains, which shows the effectiveness of our hedging strategy. Question five. Receivables as INR 500 crore which have been impaired. What steps is the company taking to reduce the same? The shareholder is Sadananda Sastry. The answer is to clarify, INR 500 crore is not an impairment for the year. The P&L charge pertaining to FY 2022 is INR 170 crore. The company uses the expected credit loss model to assess any required impairment and uses a provision matrix to compute the expected credit loss for trade receivables and unbilled revenues. This matrix takes into account credit reports and other credit information. The company has a focused AR collection mechanism and credit risk assessment in order to minimize the AR impairment. We continuously monitor the aging of receivables and take the appropriate actions to accelerate the collections. Question six. Unspent CSR of INR 51 crores. Are we having any plans to spend the same? The shareholder is Rajappa Gundalu. The unspent amount of INR 51.79 crores is a carry forward from the various ongoing projects primarily related to COVID-19 relief efforts. Additionally, some of the projects are multi-year in duration. The company has a period of three years to spend the unspent CSR amount, and the same will be spent in due course. The next question is, the company has an ESG vision 2030. What is the current status of rainwater harvesting and carbon neutrality as on date? This question is from Santosh Saraf. Infosys is a carbon neutral company for a third year in a row. An important element of our water management system is rainwater harvesting. We recharge and replenish our groundwater system with the help of natural and artificial lakes, ponds, rooftop rainwater harvesting systems, and deep well injection systems. We have established around 400 deep well injection wells across Indian campuses, providing a combined recharge capacity of around 20 million liters. We have also built 35 lakes across our campuses, holding 330 million liters of rainwater storage capacity. The next question is, the market cap of our company has gone down to INR 6 lakh crore. What steps are we taking to take this up to INR 10 lakh crore? The question from shareholder, Shrenik Mehta. The market cap of company, as you know, is impacted by many factors apart from its own performance, including the overall economic conditions around the world, capital flows, interest rates, besides the company's performance. We are of course focused on making sure that Infosys continues to remain one of the best performing companies in this sector with superior growth and profitability. The next question is, company has INR 30,000 crore cash. How do we plan to use this cash? This is from Shrenik Mehta. The company has a capital allocation policy to distribute 85% of our free cash flows over a period of five years from FY 2020 to FY 2024 by means of dividend, buyback, and special dividend. This policy takes into account the operational and strategic cash requirements of the company. Utilization of the cash will be in line with the capital allocation policy. The next question is what is the employee strength of Infosys? This is from Abhishek J. The number of employees is 3.14 lakhs as of March 31, 2022. The next question is, our EPS has increased from 37 to 45 in FY 2021, and from INR 45 to INR 52 in FY 2022. The dividend has not increased in the same proportion. What is the company planning? This shareholder is Krishnan La Chadha. Our EPS grew by approximately 15% in each of the last two years. Our dividend grew by 55% in FY 2021 and 15% in FY 2022. Therefore, the dividend growth is in line or higher with the EPS growth. Our capital return policy, as we mentioned, plans to return 85% of our free cash flow over a five-year period. For the first three years, we have returned approximately 73% of the free cash flows. For the five-year period, we are committed to return the 85% as per our allocation policy. The next question is, can you explain the reduction of the income in FY 2022 as compared to FY 2021? This is from Krishan Lal Chadha. The other income during the year has actually increased from INR 2,201 crores to INR 2,295 crores on a consolidated basis. Other income is a function of investable surplus and prevailing interest rates. The next question is, why has the domestic institution shareholding come down from 23% to 17%? This is from Kirti Shah. The shareholding of domestic institutions, mutual funds, insurance companies and QIBs is stable at approximately 25% in both FY 2021 and FY 2022. The movement in shareholding depends on the buying and selling by various categories of shareholders based on various external circumstances which are outside the control of the company. Question 14. Why has the cash and cash equivalents come down from INR 24,700 crores to INR 17,000 crores this year? The shareholders who asked this question is Kirti Shah. The cash and cash equivalents referred to in the question are cash balances with banks and deposits with financial institutions. Apart from this, the company also invests in other instruments like liquid mutual funds, tax-free bonds, government securities, et cetera. Therefore, the overall cash and cash equivalents, including these, has increased from INR 37,419 crores in FY 2021 to INR 38,660 crores in FY 2022. Can the company elaborate on the green initiatives? This is from Atanu Saha. In line with our ESG vision of 2030, we have taken initiatives and ambitions on climate change, on water and waste. We achieved carbon neutrality for the first time in 2020 and have remained carbon neutral since then. Some of these include energy efficiency measures, smart automation, green buildings, data center efficiency, rainwater harvesting. We are committing to reduce our scope one, two, and three emissions in the future. Question is, why are we not considering giving quarterly dividend? This is from Dinesh Kotecha. Thank you for the suggestion, and the board will consider the matters relating to capital return to shareholders, including frequency of dividend payouts while staying within the overall capital return policy as enumerated, announced by the company. What is the EVA added by our company? What is the internal rate of return we have taken for the same? This is from Shailesh Mahadevia. The economic value generated by the company during FY 2022 is $16,592 million, as mentioned in page 21 of our ESG report. This is the sum of the revenues and the other income as presented in the ESG data book for the year. Question is, have we studied the impact of the CSR and what we've done over the years? This is from Shailesh Mahadevia. The company has been conducting impact assessments of the various projects undertaken under our CSR much before even the legislation mandated the same. These assessments help the company assess the status and the programs and progress towards the objectives enumerated above. We have a clear charter which covers many areas like healthcare and education, women empowerment. Infosys prides itself on building responsible citizenship amongst its employees. Next question is, has the company's ESG program been rated by any of the global rating agencies? This is from Shailesh Mahadevia. Yes, this has been, and some examples are the DJSI and Infosys is a constituent of the DJSI World Index. On MSCI, it's got an A rating. On CDP, it's on the leadership quadrant six years in a row. On EcoVadis, it has got a gold rating. Of course, in India itself, from CRISIL, it is a leader, and from Sustainalytics also it has a low risk rating. Out of the 81 subsidiaries, 18 had losses. Why are we not closing these companies? This is from Mahesh Kumar. Of course, as you know, subsidiaries are strategic in nature and reflect our investments. As a result, as we enumerate the performance, including offshore, downstream, they generate for the rest of the group. There are specific plans for each subsidiary, and they're constantly recruiting against the same. With that, I hand over to Mani for the next set of questions. Thank you, Nilanjan. There was a question from Dinesh Bhatia regarding what is the total dividend and shares transferred by IEPF in the financial year. During the year 2021-22, the company has transferred the unclaimed and unencashed dividends of INR 2 crore, and further 4,154 corresponding shares on which dividends were unclaimed for seven consecutive years. These were transferred as per the requirements of the IEPF rules. The details of these were also provided in page 79 of the integrated annual report. There was a question on unclaimed dividend transfer and what are the steps that have been taken by the company to trace these shareholders. This question is from Mr. Sadananda Sastry, and there were a few other shareholders who had asked a similar question. Shareholders are requested to note that the unclaimed dividend and corresponding shares are required to be transferred to IEPF if dividend remains unclaimed for a continuous period of seven years. It may be noted that the company sends repeated reminders to the registered addresses and email IDs of the beneficiaries whose dividend or shares are due to be transferred to IEPF, requesting them to update their bank account details and uncashed physical warrants. The company updates the list of unclaimed dividends on the website, having a search engine facility to provide comprehensive list so that shareholders who are yet to claim dividend can claim the same within the said due dates. Besides this, the company publishes newspaper advertisements before transferring dividend and shares to IEPF authority. The company has also taken an initiative called Penny Drop for tracing active beneficiary bank accounts and reaching out to beneficiaries, requesting them to claim dividends. Shareholders whose shareholding is in electronic mode are requested to update or notify any change in their bank account details to their respective depository participants. Shareholders whose shareholding is in physical mode are requested to opt for the electronic clearing systems mode to receive their dividend on time, so that they can avoid any delay in receiving dividends as well as dividend or shares getting transferred to IEPF. There was a question from Jaydip on the virtual AGM. In fact, we have received many requests from shareholders to convene the AGM virtually, as it helps them to join from anywhere. We have many shareholders joining in from various parts of India and across the globe for this AGM, despite the time differences. We thank all the shareholders for making time to attend this AGM. Those were the questions which I had. With that, I will hand over to Chairman. Thank you, Mani. Members may note that e-voting on the NSDL platform will continue to be available for the next 30 minutes. Therefore, I request members who have not cast their vote yet to do so within the next 30 minutes. The board of directors has appointed B. Hemanth, practicing company secretary, as the scrutinizer to supervise the e-voting process. Further, I hereby authorize Manikantha, the company secretary, to declare the results of the voting and place the results on the website of the company at the earliest. The resolutions as set forth in the notice shall be deemed to be passed today, subject to the receipt of the requisite number of votes. We had 291 members participating in today's 41st Annual General Meeting. Thank you for attending the meeting. I hereby declare the proceedings of Infosys Limited's 41st Annual General Meeting closed. Thank you very much, and see you next year.