INFOSYS Ltd.

Business Profile:
Broad
Industry
Industry

Information
Technology
Computers Software
Not Applicable

Group

ISIN No

INE009A01021 Market Cap (Rs. Cr.)

189271.11

BSE
Code
NSE
Code

500209

FV/ML

5/1

INFY

52 Week High/Low
(Rs.)

3850/2186

Company Description

Infosys Technologies Ltd is a global technology services company. Infosys defines, designs and
delivers technology-enabled business solutions for Global 2000 companies. Their services
include business and technology consulting, application services, systems integration, product
engineering, custom software development, maintenance, re-engineering, independent
testing and validation services, IT infrastructure services and business process outsourcing.
Infosys (formerly Infosys Technologies) is an Indian multinational that provides business
consulting, technology, engineering and outsourcing services. It is headquartered
in Bangalore, Karnataka. Infosys is the company by 2012 revenues, and the second largest
employer of H-1B visa professionals in the United States, as of 2012.On 28 March 2013,
its market capitalization was $30.8 billion, making it India's sixth largest publicly traded
company.
Product profile

Year

Months

Product name

1303

12

Software
Development
Charges

1303

12

Software Products

Sales
Sales unit of
quantity measurement

Sales value
(Rs. Crores)

Product Mix (%)

35163

95.64

1602

4.35

Profit & Loss - Infosys Ltd. Rs (in Crores)

Income:
Operating Income
Expenses:
Financial Expenses
Personnel Expenses
Selling Expenses
Administrative Expenses
Expenses Capitalized
Operating Expenditure
Operating Profit
Other Recurring Income
Adjusted PBDIT
Provisions Made
Depreciation
Other Write offs
Adjusted PBT
Tax Charges
Adjusted PAT
Non Recurring Items
Other Non Cash adjustments
Reported Net Profit
Earnings Before Appropriation
Equity Dividend
Preference Dividend
Retained Earnings

Mar` 13

Mar` 12

Mar` 11

Mar` 10

36765

31254

25385

21140

0
19932
0
2849
0
22781
11015
2215
13230
0
956
0
12274
3241
9033
83
0
9116
29109

0
15481
0
1765
0
17246
10061
1829
11890
0
794
0
11096
3110
7986
484
0
8470
24061

0
12464
0
1311
0
13775
8414
1147
9561
0
740
0
8821
2378
6443
0
0
6443
20249

2
10356
87
1320
0
11765
7362
871
8233
0
807
0
7424
1717
5707
96
0
5803
16108

2009
0
26697

2699
0
20924

3445
0
16236

1434
0
14434

Balance sheet (in crore Rs)

Capital and Liabilities
Owners' Fund
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves & Surplus
Loan Funds
Deposits
Borrowings made
by the bank
Other Liabilities &
Provisions
Total
Assests
Cash & Balances with RBI
Money at call and
Short Notice
Investments
Advances
Fixed Assets
Gross Block
Less: Revaluation Reserve
Less: Accumulated
Depreciation
Net Block
Capital Work-in-progress
Other Assets
Miscellaneous Expenses
not written off
Total
Note
Contingent liabilities
Book Value of Unquoted
Investment
Market Value of Quoted
Investment

Mar` 13

Mar` 12

Mar` 11

Mar` 10

287
0
0
35772

287
0
0
29470

287
0
0
24214

287
0
0
21749

0
0

0
0

0
0

0
0

6969

6058

4353

4030

43028

35815

28854

26066

20401
0

18057
0

13665
0

9797
0

4344
0

1409
0

1325
0

4636
0

4453
0
0

4061
0
0

4056
0
0

6357
0
2578

4453
1135
33096
0

4061
588
29757
0

4056
249
23224
0

3779
409
17242
0

43028

35815

28854

26066

1693
4344

1024
1409

1016
1325

295
4636

Common size Revenue Statement

Mar` 13
Percentage%
Income:
Operating Income

36765

100

19932

54.21

0.00

2849

7.749218006

Operating Expenditure

22781

61.96382429

Operating Profit

11015

29.96056032

2215

6.024751802

13230

35.98531212

956

2.600299198

Adjusted PBT

12274

33.38501292

Tax Charges

3241

8.815449476

Adjusted PAT

9033

24.56956344

83

0.225758194

9116

24.79532164

29109

79.17584659

2009

5.464436285

26697

72.61525908

Expenses:
Financial Expenses
Personnel Expenses
Selling Expenses
Administrative Expenses
Expenses Capitalized

Other Recurring Income

Adjusted PBDIT
Provisions Made
Depreciation
Other Write offs

Non Recurring Items

Other Non Cash adjustments
Reported Net Profit
Earnings Before Appropriation
Equity Dividend
Preference Dividend
Retained Earnings

Capital and Liabilities

common size balance sheet

Mar` 13

Percentage %

Owners' Fund
Equity Share Capital

287

0.66700753

Share Application Money

Preference Share Capital

35772

175.3443459

Reserves & Surplus

Loan Funds

Deposits

Borrowings made

by the bank
Other Liabilities &

0
6969

Provisions
Total

0
43028

Assests
Cash & Balances with RBI
Money at call and

Advances

20401

47.41331226

0
0
4344

13.12545323

Fixed Assets
Gross Block

100
0

Short Notice
Investments

16.19643023

0
4453

10.34907502

Less: Revaluation Reserve

Less: Accumulated

Depreciation

Net Block

4453

10.34907502

Capital Work-in-progress

1135

2.637817235

33096

76.91735614

Other Assets
Miscellaneous Expenses
not written off
Total

0
43028

Note
Contingent liabilities

1693

Book Value of Unquoted

Investment

4344

Market Value of Quoted

Investment

100

Comparison with competitors:

Balance sheet comparison
Balance Sheet (Rs in Cr.)

Capital and Liabilities

Owners' Fund
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves & Surplus
Loan Funds
Deposits
Borrowings made
by the bank
Other Liabilities &
Provisions
Total
Assests
Cash & Balances with RBI
Money at call and
Short Notice
Investments
Advances
Fixed Assets
Gross Block
Less: Revaluation Reserve
Less: Accumulated
Depreciation
Net Block
Capital Work-in-progress
Other Assets
Miscellaneous Expenses
not written off
Total
Note
Contingent liabilities
Book Value of Unquoted
Investment
Market Value of Quoted
Investment

Infosys
Mar` 13

Oracle Financial Ser

Mar` 13

Tata Consultancy
Mar` 13

Mind Tree Ltd.

Mar` 13

287
0
0
35772

42.03
0
0
7250.31

195.72
0
100
32266.53

41.5
0
0
1272.2

0
0

0
0

0
0

0
0

6969

1033.54

10286.77

352.4

43028

8325.88

42849.02

1666.1

20401
0

5018.34
0

4054.16
0

123.8
0

4344
0

729.24
0

6324.38
0

427.1
0

4453
0
0

649.26
0
275.29

9152.32
0
4048.04

640.7
0
381.8

4453
1135
33096
0

373.98
13.27
7209.41
0

5104.28
1763.85
29819.63
0

258.9
57.1
947.9
0

43028

8325.88

42849.02

1666.1

1693
4344

19.34
728.24

10984.51
5944.49

121.9
40.8

2093.7

371

P&L comparison
P&L Account (Rs in Cr.)
Infosys

Oracle Financial
Ser
Mar` 13

Tata
Consultancy
Mar` 13

Mind Tree
Ltd.
Mar` 13

36765

2937.7

48426.14

2361.8

0
19932
0
2849
0
22781
11015
2215
13230
0
956
0
12274
3241
9033
83
0
9116
29109

0
1435.71
0
367.15
0
1802.86
1123.05
440.32
1563.37
0
58.61
0
1504.76
475.5
1029.26
0
0
1029.26
5254.86

30.62
17081.72
0
17013.11
0
34125.45
14306.27
2230.39
16536.66
0
802.86
0
15703.18
2916.84
12786.34
0
0
12786.34
30918.54

1
1427.4
0
454.8
0
1883.2
452
35
487
0
62.4
0
423.6
84.7
338.9
0
0
338.9
1011.5

2009
0
26697

0
0
5254.86

3593.7
19
26593.66

49.7
0
953.7

Mar`
13
Income:
Operating Income
Expenses:
Financial Expenses
Personnel Expenses
Selling Expenses
Administrative Expenses
Expenses Capitalized
Operating Expenditure
Operating Profit
Other Recurring Income
Adjusted PBDIT
Provisions Made
Depreciation
Other Write offs
Adjusted PBT
Tax Charges
Adjusted PAT
Non Recurring Items
Other Non Cash adjustments
Reported Net Profit
Earnings Before Appropriation
Equity Dividend
Preference Dividend
Retained Earnings

Mar`
13

Ratio Comparison
Ratios (Rs in Cr.)
Infosys
Mar`
13
PER SHARE RATIOS
Adjusted E P S (Rs.)
Adjusted Cash EPS (Rs.)
Reported EPS (Rs.)
Reported Cash EPS (Rs.)
Dividend Per Share
Operating Profit Per Share (Rs.)
Book Value (Excl Rev Res) Per Share (Rs.)
Book Value (Incl Rev Res) Per Share (Rs.)
Net Operating Income Per Share (Rs.)
Free Reserves Per Share (Rs.)
PROFITABILITY RATIOS
Operating Margin (%)
Gross Profit Margin (%)
Net Profit Margin (%)
Adjusted Cash Margin (%)
Adjusted Return On Net Worth (%)
Reported Return On Net Worth (%)
Return On long Term Funds (%)
LEVERAGE RATIOS
Long Term Debt / Equity
Total Debt/Equity
Owners fund as % of total Source
Fixed Assets Turnover Ratio
LIQUIDITY RATIOS
Current Ratio
Current Ratio (Inc. ST Loans)
Quick Ratio
Inventory Turnover Ratio
PAYOUT RATIOS
Dividend payout Ratio (Net Profit)
Dividend payout Ratio (Cash Profit)
Earning Retention Ratio
Cash Earnings Retention Ratio
COVERAGE RATIOS
Adjusted Cash Flow Time Total Debt
Financial Charges Coverage Ratio
Fin. Charges Cov.Ratio (Post Tax)

Oracle
Financial Ser
Mar` 13

Tata
Consultancy
Mar` 13

Mind
Tree Ltd.
Mar` 13

157.30
173.95
158.75
175.40
42.00
191.82
627.95
627.95
640.24
0.00

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

122.44
129.41
122.44
129.41
0.00
133.59
867.46
867.46
349.45
0.00

65.23
69.33
65.23
69.33
22.00
73.09
165.86
165.86
247.42
0.00

81.59
96.62
81.59
96.62
12.00
108.82
316.29
316.29
568.63
0.00

29.96
27.36
23.38
25.62
25.05
25.28
34.03

0.00
0.00
0.00
0.00
0.00
0.00
0.00

38.22
36.23
30.46
32.20
14.11
14.11
20.63

29.54
27.88
25.24
26.82
39.32
39.32
48.19

19.13
16.49
14.13
16.74
25.79
25.79
32.24

0.00
0.00
100.00
1.12

0.00
0.00
0.00
0.00

0.00
0.00
100.00
0.43

0.01
0.01
99.19
1.68

0.00
0.01
98.13
2.02

4.75
4.75
4.69
0.00

0.00
0.00
0.00
0.00

6.98
6.98
6.91
0.00

2.90
2.85
2.88
7,638.32

2.69
2.39
2.59
0.00

26.45
23.94
73.30
75.86

0.00
0.00
0.00
0.00

0.00
0.00
100.00
100.00

39.30
36.97
60.70
63.03

17.05
14.40
82.95
85.60

0.00 0.00
0.00 0.00
0.00 0.00

0.00
0.00
0.00

0.01
540.06
444.80

0.06
487.00
402.30

COMPONENT RATIOS
Material Cost Component(% earnings)
Selling Cost Component
Exports as percent of Total Sales
Import Comp. in Raw Mat. Consumed
Long term assets / Total Assets
Bonus Component In Equity Capital (%)

0.00
0.00
98.21
0.00
0.23
93.26

0.00
0.00
0.00
0.00
0.00
0.00

0.00
0.00
95.63
0.00
0.13
73.89

0.05
0.00
94.87
74.42
0.30
79.65

0.00
0.00
95.75
0.00
0.43
61.09

Peer Comparison
Company

Market Cap
(Rs. in Cr.)

P/E (TTM)
(x)

P/BV
(TTM)
(x)

EV/EBIDTA
(x)

ROE
(%)

ROCE
(%)

D/E
(x)

TCS

416,331.48

24.69

12.83

18.37

44.6

53.7

0.00

Infosys

189,151.78

19.67

5.25

10.93

27.7

37.5

0.00

Wipro

140,235.18

21.73

5.79

12.83

23.3

25.0

0.23

HCL Technologies

100,426.66

20.96

9.81

10.25

44.0

47.1

0.10

Tech Mahindra

42,485.06

19.26

9.91

13.57

17.1

16.6

0.33

Oracle Fin.Serv.

24,400.60

21.49

3.35

10.52

15.2

22.1

0.00

MphasiS

8,112.85

15.18

2.18

10.58

14.7

19.2

0.04

I Gate Computer

7,006.46

14.73

2.08

8.41

15.8

18.7

0.00

Polaris Finance

1,925.36

14.62

1.77

4.66

15.8

17.6

0.10

Hewlett-Packard

0.11

0.00

0.00

0.00

15.5

19.6

0.00

Management Team

Name

Designation

Ann M Fudge

Independent Director

B G Srinivas

Global Head

B G Srinivas

Director

Basab Pradhan

Senior Vice President & Global Head

Chandrashekar Kakal

Senior Vice President & Global Head

Jeffrey S Lehman

Independent Director

K Parvatheesam

Co. Secretary & Compl. Officer

K Parvatheesam

Secretary

K V Kamath

Independent Director

Kiran Mazumdar Shaw

Addnl.Independent Director

N R Narayana Murthy

Executive Chairman

Nandita Gurjar

Senior Vice President & Group Head

Omkar Goswami

Independent Director

Prasad Thrikutam

Senior Vice President & Global Head

R Seshasayee

Independent Director

Rajiv Bansal

Chief Financial Officer

Ravi Venkatesan

Independent Director

S D Shibulal

CEO

S D Shibulal

Managing Director & CEO

S Gopalakrishnan

Executive Co Chairman

Sanjay Jalona

Senior Vice President & Global Head

Sanjay Purohit

Senior Vice President & Global Head

Srikantan Moorthy

Senior Vice President & Group Head

Srinath Batni

Director & Head

Srinath Batni

Director

Stephen R Pratt

Senior Vice President

U B Pravin Rao

Senior Vice President & Global Head

Shareholding Pattern

Category of Shareholder

No. of
Shareholders

Total No. of
Shares

Total No. of Shares

held in
Dematerialized Form

Total Shareholding as
a % of Total No. of
Shares
As a % of As a % of
(A+B)
(A+B+C)

Shares pledged or
otherwise encumbered
Number
of shares

As a
% of Total
No. of
Shares

(A) Shareholding of Promoter

and Promoter Group
(1) Indian
Individuals / Hindu
Undivided Family

19

91508078

91508078

18.90

15.94

0.00

19

91508078

91508078

18.90

15.94

0.00

19

91508078

91508078

18.90

15.94

0.00

363

31555884

31555884

6.52

5.50

0.00

Financial Institutions /

27

216171

216171

0.04

0.04

0.00

Insurance Companies

203

56389738

56389738

11.65

9.82

0.00

897

233412566

233402966

48.21

40.65

0.00

1490

321574359

321564759

66.42

56.00

0.00

2730

2743146

2730346

0.57

0.48

0.00

356718

39154915

38056744

8.09

6.82

0.00

Sub Total
(2) Foreign
Total shareholding of
Promoter and Promoter
Group (A)
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI

Banks

Foreign Institutional
Investors
Sub Total
(2) Non-Institutions
Bodies Corporate
Individuals
Individual
shareholders holding nominal
share capital up to Rs. 1 lakh

Individual
shareholders holding nominal
share capital in excess of Rs. 1
lakh
Any Others (Specify)

279

19934459

19692059

4.12

3.47

0.00

6989

9231876

9230240

1.91

1.61

0.00

6934

5678423

5676787

1.17

0.99

0.00

55

3553453

3553453

0.73

0.62

0.00

366716

71064396

69709389

14.68

12.38

0.00

Total Public shareholding (B)

368206

392638755

391274148

81.10

68.38

0.00

Total (A)+(B)

368225

484146833

482782226

100.00

84.31

0.00

0.00

0.00

0.00

0.00

0.00

0.00

(2) Public

90089333

90089333

0.00

15.69

0.00

Sub Total

90089333

90089333

0.00

15.69

0.00

368226

574236166

572871559

0.00

100.00

0.00

NRIs/OCBs
Trusts
Sub Total

(C) Shares held by Custodians

and against which Depository
Receipts have been issued
(1) Promoter and Promoter
Group

Total (A)+(B)+(C)

BSE 52 weeks share price trend

NSE 52 weeks share price trend