Infosys founder NR Narayana Murthy's five-month-old grandson is set to earn Rs 4.2 crore as dividend income from the IT giant. Murthy had gifted Ekagrah, the son of Rohan Murthy and Aparna Krishnan, 15 lakh shares (0.04% stake) last month worth over Rs 200 crore.
While announcing the company's Q4 numbers, Infosys declared a total dividend of Rs 28, including a final dividend of Rs 20 and a special dividend of Rs 8. The date for the payment of the final dividend and a special dividend has been fixed for May 31, while the payment will be made on July 1.
With the overall dividend of Rs 28, Ekagrah will make Rs 4.2 crore.
At the current market price of Rs 1,400, the value of Ekagrah's holding is worth Rs 210 crore.
Infosys reported a muted FY25 guidance but its March quarter deal wins came in much higher than analyst etimates of $2-3 million. Its dollar revenue at $4,564 million was below Street expectations but margin was largely in line. This is because the headline numbers were hit by 100 basis points one-time headwind from renegotiation of a BFSI contract. Infosys Q4 results were a miss in that context, but not by a big margin.
Motilal Oswal said Infosys' FY25 revenue growth guidance came in significantly below its estimate, although deal wins should support the medium-term growth outlook. Infosys has maintained its margin guidance but continues to see upside potential in the medium term, which the brokerage sees as encouraging. Nuvama said Infosys’s growth my pick up as discretionary spends revive in H2FY25 – till then the stock may remain sideways and underperform peers such as TCS.
Ekagrah is the third grandkid of Narayana Murthy and Sudha Murty who recently took oath as a Rajya Sabha MP. The couple have two other grandchildren - Krishna and Anoushka - daughters of Akshata Murty and British Prime Minister Rishi Sunak.
At the end of the December quarter, Akshata owned a 1.05% stake in Infosys, Sudha 0.93% and Rohan 1.64%.