Persistent Systems (PERSISTENT) AGM 2024 summary

Opening remarks and agenda

• The 34th AGM was held in hybrid mode, welcoming both in-person and online attendees, with gratitude expressed to long-term shareholders and board introductions made.

• The agenda included a review of the past year, board member introductions, and acknowledgment of key contributors and auditors.

Financial performance review

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

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

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

Board and executive committee updates

• Introduced new and retiring board members, including the appointment of Anjali Joshi as independent director and the retirement of Roshini Bakshi.

• CEO succession and leadership transition plans discussed, with emphasis on smooth handover and professionalization.