1 Top Management and Board of Directors; 2 Top shareholders; 3 Peer Comparison & Ranking of INFY; 4 Patents; 5 Currency Synopsis: Indian Rupees (INR)
Top Management and Board of Directors
Top Management Top Management [One top executive with tenure > 6 yrs]
Name | Designation | Since Appointment | Nandan Nilekani | Chairman, Co-Founder | 6 Yrs, 8 Mos |
Top Management
Name | Designation | Jayesh Sanghrajka | Chief Financial Officer | Salil S. Parekh | Chief Executive Officer, Managing Director |
Board Of Directors Board Of Directors [Nine directors with tenure < 4 yrs]
Name | Since Appointment | Chitra Nayak | 3 Yrs, 1 Mo | Nitin Paranjpe | 3 Mos | Govind Iyer | 1 Yr, 3 Mos | D N Prahlad | - | Ravi Venkatesan | - | Roopa Kudva | - | D Sundaram | - | Kiran Mazumdar-Shaw | - | Punita Kumar-Sinha | - |
Resignations in the Past Year
Name | Designation | Date of Resignation | Nilanjan Roy | Chief Financial Officer | 31 March 2024 | Uri Levine | Independent Director | 19 April 2023 |
Top shareholders Top 13 shareholders
Name of the Share Holder | Number Of Shares | % of Capital | Life Insurance Corporation of India | 366180482 | 8.8 | SBI MUTUAL FUND | 180655637 | 4.4 | ICICI PRUDENTIAL MUTUAL FUND | 107647211 | 2.6 | GOVERNMENT OF SINGAPORE | 92092937 | 2.2 | National Pension System Trust | 68572253 | 1.7 | UTI MUTUAL FUND | 64225187 | 1.6 | HDFC MUTUAL FUND | 60387988 | 1.5 | VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | 47692974 | 1.2 | VANGUARD EMERGING MARKETS STOCK INDEX FUND | 47374958 | 1.1 | GOVERNMENT PENSION FUND GLOBAL | 46303849 | 1.1 | SBI LIFE INSURANCE CO. LTD | 44551181 | 1.1 | ADITYA BIRLA SUN LIFE TRUSTEE | 41712281 | 1.0 | ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED | 41569779 | 1.0 | % held by Top 13 shareholders 29.3%
Peer Comparison & Ranking of INFY PEER COMPARISON: INFY IN INDICES
Infosys is a constituent of the following indices.
Its market capitalisation is $71 billion and accounts for 20.9% of the combined MCap of the BSE Information Technology Index.
Index Name | MCap of Index ($ b) | INFY MCap as % of Index | BSE Information Technology Index | 342 | 20.9 | BSE Teck Index | 495 | 14.4 | BSE SENSEX Index | 1,764 | 4.0 | Nifty Index | 2,158 | 3.3 | BSE 100 Index | 2,730 | 2.6 | BSE 200 Index | 3,626 | 2.0 | BSE 500 Index | 4,268 | 1.7 |
GLOBAL PEER COMPARISON: INFY - SIZE (all figures in $)
In its Global Peer Group of 9 companies INFY is ranked second (2) by Revenue, Net Profit and fifth (5) by MCap, Total Assets.
Name (Code) | MCap | Revenue | Net Profit | Total Assets | Rank of INFY | 5 | 2 | 2 | 5 | Infosys (INFY) | 71.4B | 17.9B | 2.9B | 15.1B | Booking Holdings (BKNG) | 120.8B | 17.1B | 3.1B | 25.4B | Meituan Dianping (03690) | 90.4B | 30.4B | (923M) | 33.8B | Synopsys (SNPS) | 80.5B | 5.8B | 1.2B | 10.3B | Cadence Design Systems (CDNS) | 76.7B | 3.6B | 849M | 5.1B | MercadoLibre (MELI) | 70.7B | 10.5B | 482M | 13.7B | NetEase (09999) | 64.8B | 13.3B | 2.8B | 23.8B | Constellation Software (CSU) | 57.6B | 6.6B | 512M | 7.9B | Dassault Systemes (DSY) | 56.1B | 6B | 991.8M | 15.2B |
GLOBAL PEER COMPARISON: INFY - RELATIVE VALUE INDICATORS
In value terms, comparing relative value of its shares, INFY is ranked
+ 2 out of 9 by Dividend Yield (%) [2.5] + 2 out of 9 by Price/Earnings per share [24.5] + 2 out of 9 by Price/Sales per share [3.9]
Name (Code) | Currency Code | Last Price | Div Yld (%) | P/E | P/S | Rank of INFY by value | | | 2 | 2 | 2 | Infosys (INFY) | INR | 1,433.3 | 2.5 | 24.5 | 3.9 | Booking Holdings (BKNG) | USD | 3,534 | 0.2 | 46.1 | 7.1 | Meituan Dianping (03690) | HKD | 113.6 | | | 3.0 | Synopsys (SNPS) | USD | 527.5 | | 65.3 | 13.8 | Cadence Design Systems (CDNS) | USD | 281.8 | | 90.0 | 21.5 | MercadoLibre (MELI) | USD | 1,395 | | | 6.7 | NetEase (09999) | HKD | 148.1 | 2.7 | 22.0 | 4.9 | Constellation Software (CSU) | CAD | 3,730.9 | 0.1 | | 8.7 | Dassault Systemes (DSY) | EUR | 39.1 | 0.6 | 38.5 | 9.1 |
USD 1= 83.293639 Indian Rupees (INR); 7.836 Hong Kong Dollar (HKD); 1.368 Canadian Dollar (CAD); 0.935 Euro (EUR)
BUYSELLSIGNALS FUNDAMENTALS VALUATION RANKING: Infosys vs Indian Market
Out of 3,829 stocks in the Indian Market, Infosys is ranked thirteenth(13) by Net Profit $, Thirty-third(33) by P/Earnings, Thirty-third(33) by P/Sales and Sixtieth(60) by Price/Net Tangible Assets.
| Indian Avg | INFY | INFY Rank | Net Profit $ | 58.6 M | 2.9 B | 13 | P/Earnings | 24.4x | 24.3x | 33 | P/Sales | 1.98x | 3.9x | 33 | Price/Net Tangible Assets | 2.97x | 9.9x | 60 | Yield (%) | 1 | 2.5 | 100 | ROE (%) | 14.2 | 31.8 | 182 | ROA (%) | 1.4 | 19.2 | 204 | Premium to 52-Wk Low (%) | 39.3 | 21.1 | 494 | EBITDA Margin% | 11.2 | 25.1 | 677 | P/Earnings/ Growth | - | 2.5x | 843 | EPS Growth YOY (%) | - | 9.7 | 1371 | Total Debt/Equity (the lower the better) | 1.1x | 0.3x | 1659 | Discount to 52-Wk High (%) | 7.3 | 17.3 | 2245 | Negative values are shown in brackets. Stock in Index and Stock in Sector
Description | INFY | BSE SENSEX Index | % of BSE SENSEX Index | IT consulting & software sector | % of IT consulting & software sector | Net Profit $ | 2.9 B | 58.2 B | 5.0 | 13.8 B | 21.0 | Revenue $ | 17.9 B | 532.2 B | 3.4 | 93.5 B | 19.2 | Total Assets $ | 15.1 B | 2,138.6 B | 0.7 | 77.9 B | 19.4 | MCap $ | 71.4 B | 1,764.4 B | 4.0 | 394.3 B | 18.1 |
Relative Valuation Indicators: Stock vs Index and Stock vs Sector
Description | INFY | BSE SENSEX Index Avg. | IT consulting & software sector Avg. | Price/Earnings | 24.3 | 29.5 | 33.5 | P/Earnings/Growth | 2.5 | -0.34 | -6.85 | Yield (%) | 2.48 | 1.14 | 2.0 | Price/Net Tangible Assets | 9.93 | 4.94 | 11.62 | Total Debt/Equity (the lower the better) | 0.26x | 0.86x | 0.2x |
MARKET SHARE Infosys vs It Consulting & Software sector [It Consulting & Software sector Total in Brackets] Revenue of Rs1,494.7 billion ($17.9 billion)[19.3% of aggregate sector revenue of Rs7,789.7 billion; up from 19.0% in the previous year.] Net Profit of Rs240.9 billion ($2.9 billion) [21.2% of aggregate sector net profit of Rs1,145.4 billion; up from 20.8% in the previous year.]
GLOBAL RANK [out of 46,503 stocks] AND RANK OF INFOSYS IN THE ASIA REGION [out of 25,474 stocks]
Description | Value | Global Rank | In Asia Region | MCap ($) | 71.4B | 234 | 40 | Total Assets ($) | 15.1B | 2,333 | 908 | Revenue ($) | 17.9B | 900 | 321 | Net Profit ($) | 2.9B | 501 | 156 | Return on Equity % | 31.8 | 1,844 | 740 | Net Profit Margin % | 16.1 | 7,663 | 4,091 | Price to Book | 10.0 | 33,872 | 21,606 | Price/Earnings | 24.5 | 16,591 | 10,445 | Yield % | 2.5 | 12,326 | 6,600 | PV1000 (1Year) $* | 1,213 | 11,408 | 6,410 | $* Change (1Year) % | 18.8 | 11,322 | 6,474 |
* 1 year ago $1 = INR 81.93 Apr 24, 2024: $ 1 equals INR 83.29
RANK OF INFOSYS IN THE BSE SENSEX INDEX [out of 30 stocks], IN THE INDIAN MARKET [out of 4016 stocks] AND IN THE IT CONSULTING & SOFTWARE SECTOR [out of 71 stocks]
Description | Value | In BSE SENSEX Index | In Indian Market | In IT consulting & software sector | Total Assets (Rs) | 1,258.2B | 19 | 66 | 2 | Return on Equity % | 31.8 | 3 | 170 | 8 | Net Profit Margin % | 16.1 | 10 | 702 | 14 | Price to Book | 9.9 | 22 | 3,041 | 45 | Price/Earnings | 24.3 | 12 | 944 | 11 | Yield % | 2.5 | 5 | 107 | 6 | PV1000 (1Year) INR | 1,232 | 23 | 1,412 | 21 |
Patents Number of Patents Issued to Infosys by the US Patent Office and the European Patent Office A total of 241 patents were issued to Infosys in the last ten years. In the past year 30 patents were issued, 1.2 times average of 24 patents per year.
12 months ended Apr 24 | No. of Patents Issued | 2024 | 30 | 2023 | 17 | 2022 | 12 | 2021 | 6 | 2020 | 15 | 2019 | 25 | 2018 | 29 | 2017 | 38 | 2016 | 55 | 2015 | 14 | Total | 241 |
Currency Synopsis: Indian Rupees (INR) % Change of INR vs Currency Basket Period-Based In the past year the Indian Rupee fell 1.7% against the US Dollars; in the past three years the Indian Rupee fell 10.0% against the US Dollars.
Last | Country | 1-day % | 1-week % | 1-Year % | 3-Yrs % | INR1=0.012USD | United States Of America | 0.1 | 0.2 | -1.7 | -10.0 | INR1=0.087CNY | China | 0.1 | 0.4 | 3.3 | 0.4 | INR1=1.858JPY | Japan | 0.1 | 0.4 | 13.2 | 28.9 | INR1=0.011EUR | European Union | - | - | 1.5 | 1.6 | INR1=16.542KRW | South Korea | - | -0.8 | 1.5 | 10.9 | INR1=0.016SGD | Singapore | 0.1 | 0.1 | 0.4 | -7.7 | INR1=0.02NZD | New Zealand | 0.1 | -0.1 | 2.3 | 9.5 | INR1=0.01GBP | United Kingdom | -0.1 | 1.0 | -1.1 | 1.2 | INR1=0.019AUD | Australia | -0.1 | -0.2 | 1.9 | 8.1 | INR1=0.094HKD | Hong Kong | - | 0.3 | -1.9 | -9.2 | INR1=0.011CHF | Switzerland | 0.1 | 0.1 | 0.7 | -10.4 | INR1=0.016CAD | Canada | -0.1 | -0.4 | -0.5 | -1.3 | INR1=0.131SEK | Sweden | -0.2 | -0.3 | 3.9 | 16.5 | INR1=0.132NOK | Norway | - | 0.5 | 2.3 | 19.0 | INR1=0.205MXN | Mexico | 0.4 | 1.9 | -6.7 | -22.8 |
1 Tax & Dividend; 2 Financials as Reported H1/2023, FY 2023, Past 10 Years
Tax & Dividend Average Income Tax Paid (Past 5 Years) In the past 5 years, Income Tax as % of profit before tax increased from 26.8% to 27.7% and Income Tax as % of operating cash flow decreased from 26.8% to 24.5%.
Description | 2023 | 2022 | 2021 | 2020 | 2019 | As % of profit before tax | 27.7 | 26.4 | 27.1 | 24.4 | 26.8 | As % of operating cash flow | 24.5 | 23.7 | 24.1 | 21.6 | 26.8 |
The 5-year average of profit before tax was 26.5%.
Dividend History In the past 5 years annual dividends have increased by INR17.0 from INR18.5 to INR35.5. Based on a start date of 5 years ago, there has been no decline in dividends over the last 5 years.
Date | Value (INR) | Type | 25 Oct 2023 | 18 | Interim | 02 Jun 2023 | 17.5 | Final | Tr 12 Months | 35.5 | | 2022 - 2023 | 32.5 | | 2021 - 2022 | 30 | | 2020 - 2021 | 21.5 | | 2019 - 2020 | 18.5 | |
Financials as Reported H1/2023, FY 2023, Past 10 Years Financials as reported (Half Year)
RESULTS OF OPERATIONS AND FINANCIAL CONDITION (In INR Million, except per share data and shares outstanding)
INCOME STATEMENT AS REPORTED
Description | INR Million | INR Million | | Sep 30 | 2023 | 2022 | Change % | Revenues | 769,270 | 710,080 | Up 8.3 | Cost of sales | 534,120 | 497,810 | Up 7.3 | Gross profit | 235,150 | 212,270 | Up 10.8 | Operating expenses | | | | Selling and marketing expenses | 35,380 | 29,790 | Up 18.8 | Administrative expenses | 38,120 | 34,620 | Up 10.1 | Total operating expenses | 73,500 | 64,410 | Up 14.1 | Operating profit | 161,650 | 147,860 | Up 9.3 | Other income net | 11,930 | 12,600 | Down 5.3 | Finance cost | 2,280 | 1,210 | Up 88.4 | Profit before income taxes | 171,300 | 159,250 | Up 7.6 | Income tax expense | 49,700 | 45,370 | Up 9.5 | Net profit | 121,600 | 113,880 | Up 6.8 | Other comprehensive income | | | | Items that will not be reclassified subsequently to profit or loss | | | | Remeasurement of the net defined benefit liability/asset net | 230 | -460 | Recovery | Equity instruments through other comprehensive income net | 400 | 70 | Up 471.4 | | 630 | -390 | Recovery | Items that will be reclassified subsequently to profit or loss | | | | Fair value changes on derivatives designated as cash flow hedge net | 290 | 140 | Up 107.1 | Exchange differences on translation of foreign operations | 210 | 390 | Down 46.2 | Fair value changes on investments net | 550 | -3,460 | Recovery | | 1,050 | -2,930 | Recovery | Total other comprehensive income/(loss) net of tax | 1,680 | -3,320 | Recovery | Total comprehensive income | 123,280 | 110,560 | Up 11.5 | Profit attributable to: | | | | Owners of the Company | 121,570 | 113,810 | Up 6.8 | Non-controlling interests | 30 | 70 | Down 57.1 | | 121,600 | 113,880 | Up 6.8 | Total comprehensive income attributable to: | | | | Owners of the Company | 123,280 | 110,540 | Up 11.5 | Non-controlling interests | | 20 | | | 123,280 | 110,560 | Up 11.5 | Earnings per equity share | | | | Equity shares of par value ?5/- each | | | | Basic | Rs29.38 | Rs27.13 | Up 8.3 | Diluted | Rs29.34 | Rs27.10 | Up 8.3 | Weighted average equity shares used in computing earnings per equity share | | | | Basic (in shares) | 4,137,939,496 | 4,194,185,175 | Down 1.3 | Diluted (in shares) | 4,142,711,523 | 4,200,026,950 | Down 1.4 |
BALANCE SHEET AS REPORTED
Description | INR Million | INR Million | | | Sep 30, 2023 | Mar 31, 2023 | Change % | ASSETS | | | | Current assets | | | | Cash and cash equivalents | 157,130 | 121,730 | Up 29.1 | Current investments | 75,790 | 69,090 | Up 9.7 | Trade receivables | 282,610 | 254,240 | Up 11.2 | Unbilled revenue | 140,540 | 152,890 | Down 8.1 | Prepayments and other current assets | 112,470 | 109,790 | Up 2.4 | Income tax assets | 420 | 60 | Up 600.0 | Derivative financial instruments | 1,710 | 1,010 | Up 69.3 | Total current assets | 770,670 | 708,810 | Up 8.7 | Non-current assets | | | | Properly plant and equipment | 131,790 | 137,930 | Down 4.5 | Right-of-use assets | 69,500 | 68,820 | Up 1.0 | Goodwill | 72,400 | 72,480 | Down 0.1 | Intangible assets | 15,470 | 17,490 | Down 11.5 | Non-current investments | 117,440 | 125,690 | Down 6.6 | Unbilled revenue | 14,190 | 14,490 | Down 2.1 | Deferred income tax assets | 8,680 | 12,450 | Down 30.3 | Income tax assets | 69,450 | 64,530 | Up 7.6 | Other non-current assets | 33,400 | 35,470 | Down 5.8 | Total non-current assets | 532,320 | 549,350 | Down 3.1 | Total assets | 1,302,990 | 1,258,160 | Up 3.6 | LIABILITIES AND EQUITY | | | | Current liabilities | | | | Trade payables | 32,030 | 38,650 | Down 17.1 | Lease liabilities | 19,200 | 12,420 | Up 54.6 | Derivative financial instruments | 770 | 780 | Down 1.3 | Current income tax liabilities | 41,880 | 33,840 | Up 23.8 | Unearned revenue | 70,110 | 71,630 | Down 2.1 | Employee benefit obligations | 26,130 | 23,990 | Up 8.9 | Provisions | 17,020 | 13,070 | Up 30.2 | Other current liabilities | 181,430 | 197,480 | Down 8.1 | Total current liabilities | 388,570 | 391,860 | Down 0.8 | Non-current liabilities | | | | Lease liabilities | 66,260 | 70,570 | Down 6.1 | Deferred income tax liabilities | 10,280 | 12,200 | Down 15.7 | Employee benefit obligations | 820 | 830 | Down 1.2 | Other non-current liabilities | 25,520 | 24,750 | Up 3.1 | Total non-current liabilities | 102,880 | 108,350 | Down 5.0 | Total liabilities | 491,450 | 500,210 | Down 1.8 | Equity | | | | Share capital - 5 par value 4800000000 (4800000000) equity shares authorized issued and outstanding 4138825258 (4136387925) equity shares fully paid up net of 11558862 (12172119) treasury shares as at September 30 2023 (March 312023) | 20,700 | 20,690 | Up | Share premium | 13,330 | 10,650 | Up 25.2 | Retained earnings | 637,890 | 600,630 | Up 6.2 | Cash flow hedge reserves | 240 | -50 | Recovery | Other reserves | 112,090 | 100,140 | Up 11.9 | Capital redemption reserve | 1,690 | 1,690 | Steady | Other components of equity | 21,740 | 20,320 | Up 7.0 | Total equity attributable to equity holders of the Company | 807,680 | 754,070 | Up 7.1 | Non-controlling interests | 3,860 | 3,880 | Down 0.5 | Total equity | 811,540 | 757,950 | Up 7.1 | Total liabilities and equity | 1,302,990 | 1,258,160 | Up 3.6 |
CASH FLOW AS REPORTED
Description | INR Million | INR Million | | Sep 30 | 2023 | 2022 | Change % | Operating activities: | | | | Net Profit | 121,600 | 113,880 | Up 6.8 | Adjustments to reconcile net profit to net cash provided by operating activities: | | | | Depreciation and amortization | 23,390 | 19,790 | Up 18.2 | Income tax expense | 49,700 | 45,370 | Up 9.5 | Finance cost | 2,280 | 1,210 | Up 88.4 | Interest and dividend income | -5,260 | -5,640 | Improved 6.7 | Exchange differences on translation of assets and liabilities net | -10 | 1,310 | Deterioration | Impairment loss recognised/(reversed) under expected credit loss model | 2,060 | 910 | Up 126.4 | Stock compensation expense | 2,790 | 2,690 | Up 3.7 | Other adjustments | 9,060 | 2,810 | Up 222.4 | Changes in working capital | | | | Trade receivables and unbilled revenue | -17,510 | -48,640 | Improved 64.0 | Prepayments and other assets | -2,590 | -12,540 | Improved 79.3 | Trade payables | -6,610 | -90 | Deterioration 7,244.4 | Unearned revenue | -1,520 | 6,250 | Deterioration | Other liabilities and provisions | -6,160 | 25,880 | Deterioration | Cash generated from operations | 171,220 | 153,190 | Up 11.8 | Income taxes paid | -45,380 | -42,270 | Deterioration 7.4 | Net cash generated by operating activities | 125,840 | 110,920 | Up 13.5 | Investing activities: | | | | Expenditure on property plant and equipment and intangibles | -12,990 | -12,340 | Deterioration 5.3 | Deposits placed with corporation | -6,360 | -5,640 | Deterioration 12.8 | Redemption of deposits placed with corporation | 4,390 | 3,840 | Up 14.3 | Interest and dividend received | 4,950 | 5,140 | Down 3.7 | Payment for acquisition of business net of cash acquired | | -9,040 | | Payment of contingent consideration pertaining to acquisition of business | -590 | -600 | Improved 1.7 | Payments to acquire Investments | | | | Quoted debt securities | -1,040 | -18,310 | Improved 94.3 | Liquid mutual fund units | -330,380 | -363,100 | Improved 9.0 | Certificates of deposit | -21,790 | -50,240 | Improved 56.6 | Commercial paper | -29,030 | -4,820 | Deterioration 502.3 | Other investments | -50 | -180 | Improved 72.2 | Proceeds on sale of investments | | | | Other investments | | 990 | | Quoted debt securities | 11,740 | 16,270 | Down 27.8 | Liquid mutual fund units | 312,920 | 343,360 | Down 8.9 | Certificates of deposit | 49,120 | 31,380 | Up 56.5 | Commercial paper | 12,540 | 2,000 | Up 527.0 | Other receipts | 1,270 | 400 | Up 217.5 | Net cash (used)/generated in investing activities | -5,300 | -60,890 | Improved 91.3 | Financing activities: | | | | Payment of lease liabilities | -9,200 | -5,270 | Deterioration 74.6 | Payment of dividends | -72,460 | -67,110 | Deterioration 8.0 | Payment of dividends to non-controlling interests of subsidiary | -20 | -220 | Improved 90.9 | Other payments | -3,340 | -2,200 | Deterioration 51.8 | Other receipts | 200 | 840 | Down 76.2 | Shares issued on exercise of employee stock options | 30 | 70 | Down 57.1 | Net cash used in financing activities | -84,790 | -73,890 | Deterioration 14.8 | Net increase/(decrease) in cash and cash equivalents | 35,750 | -23,860 | Recovery | Effect of exchange rate changes on cash and cash equivalents | -350 | -2,170 | Improved 83.9 | Cash and cash equivalents at the beginning of the period | 121,730 | 174,720 | Down 30.3 | Cash and cash equivalents at the end of the period | 157,130 | 148,690 | Up 5.7 |
Financials as reported (FY 2023 [year-ended 31 March 2023 ])
RESULTS OF OPERATIONS AND FINANCIAL CONDITION (In INR Million, except per share data and shares outstanding)
INCOME STATEMENT AS REPORTED (FY 2023 [year-ended 31 March 2023 ])
Description | INR Million | INR Million | | Mar 31 | 2023 | 2022 | Change % | Revenue from operations | 1,467,670 | 1,216,410 | Up 20.7 | Other income net | 27,010 | 22,950 | Up 17.7 | Total Income | 1,494,680 | 1,239,360 | Up 20.6 | Expenses | | | | Employee benefit expenses | 783,590 | 639,860 | Up 22.5 | Cost of technical sub-contractors | 140,620 | 126,060 | Up 11.6 | Travel expenses | 15,250 | 8,270 | Up 84.4 | Cost of software packages and others | 109,020 | 68,110 | Up 60.1 | Communication expenses | 7,130 | 6,110 | Up 16.7 | Consultancy and professional charges | 16,840 | 18,850 | Down 10.7 | Depreciation and amortisation expenses | 42,250 | 34,760 | Up 21.5 | Finance cost | 2,840 | 2,000 | Up 42.0 | Other expenses | 43,920 | 34,240 | Up 28.3 | Total expenses | 1,161,460 | 938,260 | Up 23.8 | Profit before tax | 333,220 | 301,100 | Up 10.7 | Tax expense: | | | | Current tax | 92,870 | 78,110 | Up 18.9 | Deferred tax | -730 | 1,530 | Deterioration | Profit for the period | 241,080 | 221,460 | Up 8.9 | Other comprehensive income | | | | Items that will not be reclassified subsequently to profit or loss | | | | Remeasurement of the net defined benefit liability/asset net | 80 | -850 | Recovery | Equity instruments through other comprehensive income net | -70 | 960 | Deterioration | Items that will be reclassified subsequently to profit or loss | | | | Fair value changes on derivatives designated as cash flow hedges net | -70 | -80 | Improved 12.5 | Exchange differences on translation of foreign operations | 7,760 | 2,280 | Up 240.4 | Fair value changes on investments net | -2,560 | -490 | Deterioration 422.4 | Total other comprehensive income/(loss) net of tax | 5,140 | 1,820 | Up 182.4 | Total comprehensive income for the period | 246,220 | 223,280 | Up 10.3 | Profit attributable to: | | | | Owners of the company | 240,950 | 221,100 | Up 9.0 | Non-controlling interests | 130 | 360 | Down 63.9 | | 241,080 | 221,460 | Up 8.9 | Total comprehensive income attributable to: | | | | Owners of the company | 245,980 | 222,930 | Up 10.3 | Non-controlling interests | 240 | 350 | Down 31.4 | | 246,220 | 223,280 | Up 10.3 | Paid up share capital (par value ?5/- each fully paid) | 20,690 | 20,980 | Down 1.4 | Other equity | 733,380 | 732,520 | Up 0.1 | Earnings per equity share (par value ?5/- each) | | | | Basic | Rs57.63 | Rs52.52 | Up 9.7 | Diluted | Rs57.54 | Rs52.41 | Up 9.8 |
BALANCE SHEET AS REPORTED (FY 2023 [year-ended 31 March 2023 ])
Description | INR Million | INR Million | | Mar 31 | 2023 | 2022 | Change % | ASSETS | | | | Non-current assets | | | | Property plant and equipment | 133,460 | 130,750 | Up 2.1 | Right of use assets | 68,820 | 48,230 | Up 42.7 | Capital work-in-progress | 2,880 | 4,160 | Down 30.8 | Goodwill | 72,480 | 61,950 | Up 17.0 | Other Intangible assets | 17,490 | 17,070 | Up 2.5 | Financial assets | | | | Investments | 125,690 | 136,510 | Down 7.9 | Loans | 390 | 340 | Up 14.7 | Other financial assets | 27,980 | 14,600 | Up 91.6 | Deferred tax assets (net) | 12,450 | 12,120 | Up 2.7 | Income tax assets (net) | 64,530 | 60,980 | Up 5.8 | Other non-current assets | 23,180 | 20,290 | Up 14.2 | Total non-current assets | 549,350 | 507,000 | Up 8.4 | Current assets | | | | Financial assets | | | | Investments | 69,090 | 66,730 | Up 3.5 | Trade receivables | 254,240 | 226,980 | Up 12.0 | Cash and cash equivalents | 121,730 | 174,720 | Down 30.3 | Loans | 2,890 | 2,480 | Up 16.5 | Other financial assets | 116,040 | 87,270 | Up 33.0 | Income tax assets (net) | 60 | 540 | Down 88.9 | Other current assets | 144,760 | 113,130 | Up 28.0 | Total current assets | 708,810 | 671,850 | Up 5.5 | Total Assets | 1,258,160 | 1,178,850 | Up 6.7 | EQUITY AND LIABILITIES | | | | Equity | | | | Equity share capital | 20,690 | 20,980 | Down 1.4 | Other equity | 733,380 | 732,520 | Up 0.1 | Total equity attributable to equity holders of the Company | 754,070 | 753,500 | Up 0.1 | Non-controlling interests | 3,880 | 3,860 | Up 0.5 | Total equity | 757,950 | 757,360 | Up 0.1 | Liabilities | | | | Non-current liabilities | | | | Financial liabilities | | | | Lease liabilities | 70,570 | 46,020 | Up 53.3 | Other financial liabilities | 20,580 | 23,370 | Down 11.9 | Deferred tax liabilities (net) | 12,200 | 11,560 | Up 5.5 | Other non-current liabilities | 5,000 | 4,510 | Up 10.9 | Total non-current liabilities | 108,350 | 85,460 | Up 26.8 | Current liabilities | | | | Financial liabilities | | | | Lease liabilities | 12,420 | 8,720 | Up 42.4 | Trade payables | 38,650 | 41,340 | Down 6.5 | Other financial liabilities | 185,580 | 158,370 | Up 17.2 | Other Current Liabilities | 108,300 | 91,780 | Up 18.0 | Provisions | 13,070 | 9,750 | Up 34.1 | Income tax liabilities (net) | 33,840 | 26,070 | Up 29.8 | Total current liabilities | 391,860 | 336,030 | Up 16.6 | Total equity and liabilities | 1,258,160 | 1,178,850 | Up 6.7 |
CASH FLOW AS REPORTED (FY 2023 [year-ended 31 March 2023 ])
Description | INR Million | INR Million | | Mar 31 | 2023 | 2022 | Change % | Cash flow from operating activities | | | | Profit for the year | 241,080 | 221,460 | Up 8.9 | Adjustments to reconcile net profit to net cash provided by operating activities: | | | | Income tax expense | 92,140 | 79,640 | Up 15.7 | Depreciation and amortization | 42,250 | 34,760 | Up 21.5 | Interest and dividend income | -18,170 | -16,450 | Deterioration 10.5 | Finance cost | 2,840 | 2,000 | Up 42.0 | Impairment loss recognized / (reversed) under expected credit loss model | 2,830 | 1,700 | Up 66.5 | Exchange differences on translation of assets and liabilities net | 1,610 | 1,190 | Up 35.3 | Stock compensation expense | 5,190 | 4,150 | Up 25.1 | Other adjustments | 6,280 | 760 | Up 726.3 | Changes in assets and liabilities | | | | Trade receivables and unbilled revenue | -70,760 | -79,370 | Improved 10.8 | Loans other financial assets and other assets | -31,080 | -19,140 | Deterioration 62.4 | Trade payables | -2,790 | 14,890 | Deterioration | Other financial liabilities other liabilities and provisions | 41,190 | 69,380 | Down 40.6 | Cash generated from operations | 312,610 | 314,970 | Down 0.7 | Income taxes paid | -87,940 | -76,120 | Deterioration 15.5 | Net cash generated by operating activities | 224,670 | 238,850 | Down 5.9 | Cash flows from investing activities | | | | Expenditure on property plant and equipment and intangibles | -25,790 | -21,610 | Deterioration 19.3 | Deposits placed with corporation | -9,960 | -9,060 | Deterioration 9.9 | Redemption of deposits placed with Corporation | 7,620 | 7,530 | Up 1.2 | Interest and dividend received | 15,250 | 18,980 | Down 19.7 | Payment towards acquisition of business net of cash acquired | -9,100 | | | Payment of contingent consideration pertaining to acquisition of business | -600 | -530 | Deterioration 13.2 | Escrow and other deposits pertaining to Buyback | -4,830 | -4,200 | Deterioration 15.0 | Redemption of escrow and other deposits pertaining to Buyback | 4,830 | 4,200 | Up 15.0 | Other receipts | 710 | 670 | Up 6.0 | Other payments | | -220 | | Payments to acquire Investments | | | | Tax free bonds and government bonds | -270 | | | Liquid mutual fund units | -706,310 | -540,640 | Deterioration 30.6 | Target maturity fund | -4,000 | | | Certificates of deposit | -103,480 | -41,840 | Deterioration 147.3 | Commercial Paper | -30,030 | | | Non convertible debentures | -2,490 | -16,090 | Improved 84.5 | Government securities | -15,690 | -42,540 | Improved 63.1 | Others | -200 | -240 | Improved 16.7 | Proceeds on sale of Investments | | | | Tax free bonds and government bonds | 2,210 | 200 | Up 1,005.0 | Liquid mutual fund units | 718,510 | 536,690 | Up 33.9 | Certificates of deposit | 104,040 | 7,870 | Up 1,222.0 | Commercial Paper | 22,980 | | | Non-convertible debentures | 4,700 | 22,010 | Down 78.6 | Government securities | 18,820 | 14,570 | Up 29.2 | Equity and preference securities | 990 | | | Others | | 90 | | Net cash (used in) from investing activities | -12,090 | -64,160 | Improved 81.2 | Cash flows from financing activities: | | | | Payment of lease liabilities | -12,310 | -9,150 | Deterioration 34.5 | Payment of dividends | -136,310 | -126,520 | Deterioration 7.7 | Payment of dividend to non-controlling interest of subsidiary | -220 | -790 | Improved 72.2 | Shares issued on exercise of employee stock options | 350 | 210 | Up 66.7 | Payment towards purchase of non-controlling interest | | -20 | | Other receipts | 1,320 | 2,360 | Down 44.1 | Other payments | -4,790 | -1,260 | Deterioration 280.2 | Buyback of equity shares including transaction cost and tax on buyback | -114,990 | -111,250 | Deterioration 3.4 | Net cash used in financing activities | -266,950 | -246,420 | Deterioration 8.3 | Net increase / (decrease) in cash and cash equivalents | -54,370 | -71,730 | Improved 24.2 | Effect of exchange rate changes on cash and cash equivalents | 1,380 | -690 | Recovery | Cash and cash equivalents at the beginning of the period | 174,720 | 247,140 | Down 29.3 | Cash and cash equivalents at the end of the period | 121,730 | 174,720 | Down 30.3 |
Download INFOSYS Financials Past 10 Years
Description (March 31) | 2023 | 2022 | 2021 | 2020 | 2019 | Income Statement | | | | | | Sales (B) | 1,494.7 | 1,239.4 | 1,026.7 | 935.9 | 826.8 | Other Revenue (B) | 27 | 22.9 | 22 | 28 | | EBITDA (B) | 375.5 | 335.9 | 298.9 | 249 | | Depreciation (B) | 42.2 | 34.8 | 32.7 | 28.9 | | Tax (B) | 92.1 | 79.6 | 72 | 53.7 | 56.3 | Net profit (B) | 240.9 | 221.1 | 193.5 | 165.9 | 154 | EPS | 57.63 | 52.52 | 45.61 | 38.97 | 35.44 | Balance Sheet | | | | | | Equity Share Capital (B) | 754.1 | 753.5 | 763.5 | 654.5 | 649.5 | Total Debt (B) | 198 | 167.1 | 167.2 | 111 | | Total Assets (B) | 1,258.2 | 1,178.8 | 1,083.9 | 927.7 | 847.4 | Current Asset (B) | 708.8 | 671.9 | 607.3 | 545.8 | 528.8 | Fixed Asset (B) | 133.5 | 130.8 | 125.6 | 124.3 | 133.6 | Working Capital (B) | 316.9 | 335.8 | 368.7 | 337.2 | 342.4 | Cash Flow | | | | | | Operating Cash Flow (B) | 224.7 | 238.8 | 23.2 | 170 | 158.4 | Investing Cash Flow (B) | (12.1) | (64.2) | (74.6) | (2.4) | (15.8) | Financing Cash Flow (B) | (266.9) | (246.4) | (97.9) | (175.9) | (145.1) | Net Cash Flow (B) | (54.4) | (71.7) | (149.2) | (8.3) | (2.5) |
Description (March 31) | 2018 | 2017 | 2016 | 2015 | 2014 | Income Statement | | | | | | Revenue per share | 163.52 | 313 | 286.84 | 248.28 | 231 | EBITDA (B) | 221.3 | 216.5 | 202 | 183.5 | 160.4 | Depreciation (B) | 18.6 | 17 | 14.6 | 10.7 | 13.2 | Tax (B) | 42.4 | 56 | 52.5 | 49.1 | 43.1 | Net profit (B) | 160.3 | 143.5 | 134.9 | 123.7 | 106.6 | EPS | 35.53 | 31.39 | 29.51 | 27.07 | 23.31 | Balance Sheet | | | | | | Equity Share Capital (B) | 649.2 | 689.8 | 617.4 | 507.4 | 445.3 | Total Assets (B) | 798.9 | 833.5 | 753.5 | 662.9 | 569.7 | Current Asset (B) | 500.2 | 537 | 517.5 | 472.4 | 430.8 | Fixed Asset (B) | 101.2 | 97.5 | 86.4 | 91.2 | 78.9 | Working Capital (B) | 359.1 | 396.9 | 385.1 | 317.4 | 310.5 | Cash Flow | | | | | | Operating Cash Flow (B) | 132.2 | 115.3 | 100.3 | 83.5 | 98.2 | Investing Cash Flow (B) | 44.5 | (145.4) | (9) | 10.9 | (25.8) | Financing Cash Flow (B) | (205.1) | (69.4) | (68.1) | (49.4) | (31.4) | Net Cash Flow (B) | (28.4) | (99.5) | 23.1 | 45.1 | 41 |
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