Infosys missed fourth-quarter revenue estimates to post a profit of Rs 7,033 crore (down 11.8%) on Wednesday. The IT giant also projected weak revenue growth for the fiscal year as ongoing softness in North America underscored tighter client budgets. Despite the somewhat grim situation, the company also announced ESOPs worth more than Rs 50 crore for CEO Salil Parekh alongside the Q4 results.
Details outlined in a regulatory filing indicated that the Board had approved the grant of various ‘annual performance-based stock incentives’ totaling Rs 51.75 crore for the MD and CEO. It also greenlit a grant of 5,000 restricted stock units to eligible employees while releasing the final quarter results.
India’s second-largest IT company saw profits increasing marginally by to Rs 26,713 crore for the full FY25. Revenues climbed 6.06% to reach Rs 1,62,990 crore with the company bagging a large deal with a total contract value of $11.6 billion for the year — with 56% net new wins.
The grants allocated to Parekh included:
i) The grant of annual performance-based stock incentives (Annual Performance Equity Grant) in the form of Restricted Stock Units (RSU’s) covering Company’s equity shares having a market value of Rs 34.75 crore as on the date of the grant.
ii) The grant of annual performance-based stock incentives (Annual performance equity ESG grant) in the form of RSU’s covering Company’s equity shares having a market value of Rs 2 crore as on the date of the grant under the 2015 Plan.
iii) The grant of annual performance-based stock incentives (Annual performance Equity TSR grant) in the form of RSU’s covering Company’s equity shares having a market value of Rs5 crore as on the date of the grant under the 2015 Plan.
iv) The grant of annual performance-based stock incentives (2019 Annual Performance Equity Grant) in the form of Restricted Stock Units (RSU’s) covering Company’s equity shares having a market value of Rs 10 crore as on the date of the grant under the Infosys Expanded Stock Ownership Program-2019 (2019 Plan).