Digital Services. Core IT. Six verticals. 59 countries.
Two revenue segments:
Digital Services (~60% of revenue, growing): AI (Topaz), cloud (Cobalt), analytics, IoT, cybersecurity, ERP transformation. Growing ~2x company average. AI consulting, cloud migration, data platforms. $14.9B large deal TCV includes significant Digital component.
Core IT Services (~40%, declining as mix): Application management, infrastructure management, BPM. Being automated Infosys's own AI reduces headcount needed. Stable revenue but margin improving.
Six verticals:
→ Financial Services (~31%): JPMorgan, Goldman, insurance majors. Finacle (core banking), McCamish (insurance platform). Grew well FY26.
→ Manufacturing (~17%): BMW, Daimler (ramp-down risk). SAP S/4HANA migration wave.
→ Retail/CPG: Walmart, global FMCG companies.
→ Communications: AT&T, Vodafone, Deutsche Telekom.
→ Energy/Utilities: Shell, BP, utilities.
→ Hi-Tech/Life Sciences: Apple, pharma (IHH Healthcare AI transformation, June 2026).