Persistent Systems (PERSISTENT) AGM 2024 summary

Opening remarks and agenda

• The 34th AGM was held in hybrid mode, welcoming both in-person and online shareholders, with a quorum present and gratitude expressed to long-term supporters.

• The agenda included board introductions, financial performance review, resolutions, and Q&A with stakeholders.

Financial performance review

• Achieved 14.5% revenue growth and 14.4% EBIT growth in FY24, with 18% EPS growth; 20% CAGR revenue and 27% EPS CAGR over 4-5 years.

• Delivered 16 sequential quarters of growth, outperforming sector peers.

• Recognized for industry-leading returns and included in major indices like Nifty IT, Nifty Midcap 50, and MSCI.

Board and executive committee updates

• Introduced independent directors, including new appointee Anjali Joshi and reappointment of Praveen Kadle.

• CEO Sandeep Kalra and new CFO Vinit Teredesai were welcomed; Sunil Sapre's reappointment as Executive Director until superannuation was proposed.

• Roshini Bakshi retired after 10 years as independent director, with her contributions acknowledged.