WFH, H1-B visa suspension dominate Infy’s virtual AGM

The annual meet also saw some shareholders of the country’s second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions. 

IMAGE: Infosys Chairman Nandan Nilekani speaks during the 39th Infosys annual general meeting via video conferencing, in Bengaluru, on June 27, 2020. Photograph: PTI Photo.

Questions related to work from home (WFH), temporary suspension of H-1B visa and impact of the India-China border dispute dominated the proceedings at Infosys’ annual general meeting (AGM) on Saturday. 

The 39th AGM, which was held virtually for the first time, was attended by 1,771 shareholders through video conferencing. However, it lacked the usual hustle-and-bustle of past years. 

 

Poor audio and video connections, many a times from the shareholders’ side, also interrupted the proceedings with ‘can you hear me’ and ‘please go ahead’ emerging as the frequent phrases used throughout the AGM. 

The annual meet also saw some shareholders of the country’s second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions. 

Most investors were curious to know whether WFH would be a permanent operating model in the post Covid-19 world. Many shareholders even wanted to know what was the expense ratio of Infosys on lease rentals with respect to net profit. Also, how it would change in terms of savings in case WFH is adopted in a big way. 

“What is the impact of productivity (of employees) due to WFH and what has the company done to secure data in this period as we have seen more cyberattacks,” asked Anish Hegde, a shareholder. 

To this, Infosys chief operating officer (COO) UB Pravin Rao said that the future of work would be a hybrid model comprising both working from office and home. 

The anxiety related to the border skirmishes with China also reflected in the AGM as many shareholders had queries on how was it going to affect Infosys’s operations in the neighbouring country. 

Infosys CEO and MD Salil Parekh said clients in China are being served mostly by local hires and it has not seen any business disruption so far. 

On Trump administration’s decision to suspend non-immigrant visas till December, the management of Infosys said the impact would be minimal as the IT…

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