INFY
The headline: good deals, sleepy growth
Infosys spent its Q4 call talking like the cool kid in class who suddenly discovered AI and won’t stop mentioning it. The company posted 4.1% year-on-year constant-currency growth in the quarter, and for the full year it landed $14.9 billion in large deals, up 24% from last year.
That sounds great until you remember this is still a consulting giant trying to prove it can grow faster than the world’s most expensive elevator ride. FY26 revenue topped $20 billion, but the real takeaway is that the top line is moving, not rocketing.
AI is the new sales pitch
Infosys kept hammering its AI story, and honestly, it’s doing a lot of the same things every tech services firm is doing — except with a much bigger microphone. The company highlighted work with Ralph Lauren, Hertz, and BP, plus partnerships with Anthropic, OpenAI, Google, Nvidia, and Microsoft.
The pitch is simple:
- use AI to modernize legacy systems
- sell more transformation work
- make margins look prettier while everyone else is still trying to figure out what “physical AI” means
The company says its AI efforts are already driving better customer engagement, faster migrations, and improved operational efficiency. Translation: customers are paying for the promise that AI will save them time and money, which is catnip for a services business.
Guidance says: steady, not spicy
Here’s where investors may squint a little. Infosys guided FY27 revenue growth to 1.5% to 3.5% and operating margin to 20% to 22%. That’s not disaster territory, but it’s also not exactly the kind of outlook that makes growth investors spill coffee on their keyboard.
The firm also said it plans to hire 20,000 freshers in FY27, which tells you management is still building for demand, even if the pace isn’t exactly Hollywood-heroic. Add in an 11.6% dividend increase and strong cash flow, and the message is pretty clear: Infosys wants to look like the reliable adult in the room while it waits for AI to become a bigger revenue engine.
Big picture
Infosys is showing real execution on deals, cash flow, and AI positioning — but the growth math is still modest. If you own the stock, the story isn’t “blowout quarter,” it’s “slowly building a better one.”