Prabhudas Lilladher's research report on Infosys We attended Infosys analyst meet where the company re?iterated its "renew and new" strategy and shared its progress on strategic initiatives such as zero distance, design thinking, and recently launched artificial intelligence based MANA platform. Infosys has adopted a universal applicable strategy of'Renewing the core businesses' and'innovate into new businesses'. This strategy will be aided by a) operational excellence, b) utilization improvement, c) balance of onsite/offshore mix, d) sales efficiency and e) large deal wins. Company also outlined short?term concerns which may pose downside risk to FY17 guidance. We believe that, despite the short term challenges, company is progressing well on the strategic initiatives and there are early indicators of success.