Brands
Infosys FY26 revenue rises 9.6 per cent to Rs 1.79 lakh crore
Q4 profit jumps 20.9 per cent YoY, deal wins reach $14.9 billion in FY26.
MUMBAI: When the code compiles cleanly, the numbers tend to follow and Infosys seems to have delivered just that in FY26. The IT major reported FY26 revenue of Rs 1,78,650 crore, marking a 9.6 per cent year-on-year rise, while net profit climbed 10.2 per cent to Rs 29,440 crore. Operating margin for the year stood at 20.3 per cent, slightly lower than 21.1 per cent in FY25, reflecting a mix of investments and structural cost changes.
Growth, however, told two stories. On a constant currency basis, revenue expanded 3.1 per cent for the full year and 4.1 per cent in Q4, even as reported numbers were aided by currency movements. Adjusted operating margin came in at 21.0 per cent for FY26.
The March quarter capped the year on a stronger note. Revenue rose 13.4 per cent year-on-year to Rs 46,402 crore, while net profit surged 20.9 per cent to Rs 8,501 crore. Earnings per share jumped 23.8 per cent YoY to Rs 21.01.
Deal momentum remained a standout. Large deal total contract value (TCV) came in at $14.9 billion for FY26, including $3.2 billion in Q4 alone, underlining sustained enterprise demand despite a mixed macro environment.
Free cash flow for the year stood at $3.7 billion, with Q4 contributing $0.8 billion. In rupee terms, quarterly free cash flow was Rs 7,711 crore, even after accounting for one-off outflows linked to labour code payments.
Segment-wise, financial services continued to anchor the business at 28.0 per cent of revenue, followed by manufacturing at 15.9 per cent and energy, utilities and resources at 13.2 per cent. Life sciences emerged as a faster-growing vertical, expanding 15.5 per cent year-on-year in reported terms.
Geographically, North America remained dominant, contributing 55.7 per cent of revenue, while Europe grew faster at 11.4 per cent YoY. The company closed the year with 1,965 active clients, adding 111 during the quarter.
Operational metrics reflected a steady workforce recalibration. Total headcount stood at 3,28,594, down from the previous quarter, while voluntary attrition eased to 12.6 per cent. Utilisation levels remained stable at 83.0 per cent excluding trainees.
Cash reserves also strengthened, with consolidated cash and investments at $4.5 billion (Rs 43,075 crore) at the end of the quarter.
One notable factor shaping reported numbers was the impact of tax reversals linked to Income Tax Act orders and provisions under newly notified labour codes. Excluding these, EPS growth stood at 12.1 per cent for FY26 and 13.9 per cent for Q4.
Margins may have softened slightly, but with double-digit profit growth, strong deal wins, and resilient cash flows, Infosys’ FY26 scorecard suggests a company still coding for scale even if the pace has turned more measured than meteoric.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
