ashish afs infosys

8/12/2019 Ashish AFS Infosys

1/13

INFOSYS Ltd.

Business Profile:

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 Salesquantity

Sales unit ofmeasurement

Sales value(Rs. Crores)

Product Mix(%)

1303 12 Software

Development

Charges

0 35163 95.64

1303 12 Software Products 0 1602 4.35

Broad

Industry

Information

Technology

ISIN No INE009A01021 Market Cap (Rs. Cr.) 189271.11

Industry Computers -

Software

BSE

Code

500209 FV/ML 5/1

Group Not Applicable NSE

Code

INFY 52 Week High/Low

(Rs.)

3850/2186
https://insight.dionglobal.in/IndustryData/Inddetmap.aspxhttps://insight.dionglobal.in/IndustryData/Inddetmap.aspxhttps://insight.dionglobal.in/IndustryData/Inddetmap.aspxhttps://insight.dionglobal.in/IndustryData/Inddetmap.aspx


2/13

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

Mar` 13 Mar` 12 Mar` 11 Mar` 10

Income:

Operating Income 36765 31254 25385 21140Expenses:

Financial Expenses 0 0 0 2

Personnel Expenses 19932 15481 12464 10356

Selling Expenses 0 0 0 87

Administrative Expenses 2849 1765 1311 1320

Expenses Capitalized 0 0 0 0

Operating Expenditure 22781 17246 13775 11765

Operating Profit 11015 10061 8414 7362

Other Recurring Income 2215 1829 1147 871

Adjusted PBDIT 13230 11890 9561 8233Provisions Made 0 0 0 0

Depreciation 956 794 740 807

Other Write offs 0 0 0 0

Adjusted PBT 12274 11096 8821 7424

Tax Charges 3241 3110 2378 1717

Adjusted PAT 9033 7986 6443 5707

Non Recurring Items 83 484 0 96

Other Non Cash adjustments 0 0 0 0

Reported Net Profit 9116 8470 6443 5803

Earnings Before Appropriation 29109 24061 20249 16108

Equity Dividend 2009 2699 3445 1434

Preference Dividend 0 0 0 0

Retained Earnings 26697 20924 16236 14434


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Balance sheet (in crore Rs)

Capital and Liabilities Mar` 13 Mar` 12 Mar` 11 Mar` 10

Owners' Fund

Equity Share Capital 287 287 287 287

Share Application Money 0 0 0 0Preference Share Capital 0 0 0 0

Reserves & Surplus 35772 29470 24214 21749

Loan Funds

Deposits 0 0 0 0

Borrowings made

by the bank

0 0 0 0

Other Liabilities &

Provisions

6969 6058 4353 4030

Total 43028 35815 28854 26066

Assests

Cash & Balances with RBI 20401 18057 13665 9797Money at call and

Short Notice

0 0 0 0

Investments 4344 1409 1325 4636

Advances 0 0 0 0

Fixed Assets

Gross Block 4453 4061 4056 6357

Less: Revaluation Reserve 0 0 0 0

Less: Accumulated

Depreciation

0 0 0 2578

Net Block 4453 4061 4056 3779

Capital Work-in-progress 1135 588 249 409

Other Assets 33096 29757 23224 17242

Miscellaneous Expenses

not written off

0 0 0 0

Total 43028 35815 28854 26066

Note

Contingent liabilities 1693 1024 1016 295

Book Value of Unquoted

Investment

4344 1409 1325 4636

Market Value of Quoted

Investment

0 0 0 0


4/13

Common size Revenue Statement

Mar` 13 Percentage%

Income:

Operating Income 36765 100

Expenses:

Financial Expenses 0 0

Personnel Expenses 19932 54.21

Selling Expenses 0 0.00

Administrative Expenses 2849 7.749218006

Expenses Capitalized 0 0

Operating Expenditure 22781 61.96382429

Operating Profit 11015 29.96056032

Other Recurring Income 2215 6.024751802

Adjusted PBDIT 13230 35.98531212

Provisions Made 0 0

Depreciation 956 2.600299198

Other Write offs 0 0

Adjusted PBT 12274 33.38501292

Tax Charges 3241 8.815449476

Adjusted PAT 9033 24.56956344

Non Recurring Items 83 0.225758194

Other Non Cash adjustments 0 0

Reported Net Profit 9116 24.79532164Earnings Before Appropriation 29109 79.17584659

Equity Dividend 2009 5.464436285

Preference Dividend 0 0

Retained Earnings 26697 72.61525908


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common size balance sheet

Capital and Liabilities Mar` 13 Percentage %

Owners' Fund

Equity Share Capital 287 0.66700753

Share Application Money 0 0

Preference Share Capital 0 0

Reserves & Surplus 35772 175.3443459

Loan Funds 0

Deposits 0 0

Borrowings made 0 0

by the bank 0

Other Liabilities & 6969 16.19643023

Provisions 0

Total 43028 100

Assests 0

Cash & Balances with RBI 20401 47.41331226

Money at call and 0

Short Notice 0

Investments 4344 13.12545323

Advances 0 0

Fixed Assets 0

Gross Block 4453 10.34907502

Less: Revaluation Reserve 0 0

Less: Accumulated 0 0

Depreciation 0

Net Block 4453 10.34907502

Capital Work-in-progress 1135 2.637817235

Other Assets 33096 76.91735614

Miscellaneous Expenses 0 0

not written off 0

Total 43028 100

Note

Contingent liabilities 1693

Book Value of Unquoted 4344

Investment

Market Value of Quoted 0

Investment


6/13

Comparison with competitors:

Balance sheet comparison

Balance Sheet (Rs in Cr.)

Infosys Oracle Financial Ser Tata Consultancy Mind Tree Ltd.

Mar` 13 Mar` 13 Mar` 13 Mar` 13

Capital and Liabilities

Owners' Fund

Equity Share Capital 287 42.03 195.72 41.5

Share Application Money 0 0 0 0

Preference Share Capital 0 0 100 0

Reserves & Surplus 35772 7250.31 32266.53 1272.2

Loan Funds

Deposits 0 0 0 0

Borrowings made

by the bank

0 0 0 0

Other Liabilities &

Provisions

6969 1033.54 10286.77 352.4

Total 43028 8325.88 42849.02 1666.1

Assests

Cash & Balances with RBI 20401 5018.34 4054.16 123.8

Money at call and

Short Notice

0 0 0 0

Investments 4344 729.24 6324.38 427.1

Advances 0 0 0 0

Fixed Assets

Gross Block 4453 649.26 9152.32 640.7Less: Revaluation Reserve 0 0 0 0

Less: Accumulated

Depreciation

0 275.29 4048.04 381.8

Net Block 4453 373.98 5104.28 258.9

Capital Work-in-progress 1135 13.27 1763.85 57.1

Other Assets 33096 7209.41 29819.63 947.9

Miscellaneous Expenses

not written off

0 0 0 0

Total 43028 8325.88 42849.02 1666.1

Note

Contingent liabilities 1693 19.34 10984.51 121.9

Book Value of Unquoted

Investment

4344 728.24 5944.49 40.8

Market Value of Quoted

Investment

0 1 2093.7 371


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P&L comparison

P&L Account (Rs in Cr.)

Infosys Oracle Financial

Ser

Tata

Consultancy

Mind Tree

Ltd.

Mar`13

Mar`13

Mar` 13 Mar` 13 Mar` 13

Income:

Operating Income 36765 2937.7 48426.14 2361.8

Expenses:

Financial Expenses 0 0 30.62 1

Personnel Expenses 19932 1435.71 17081.72 1427.4

Selling Expenses 0 0 0 0

Administrative Expenses 2849 367.15 17013.11 454.8

Expenses Capitalized 0 0 0 0

Operating Expenditure 22781 1802.86 34125.45 1883.2

Operating Profit 11015 1123.05 14306.27 452Other Recurring Income 2215 440.32 2230.39 35

Adjusted PBDIT 13230 1563.37 16536.66 487

Provisions Made 0 0 0 0

Depreciation 956 58.61 802.86 62.4

Other Write offs 0 0 0 0

Adjusted PBT 12274 1504.76 15703.18 423.6

Tax Charges 3241 475.5 2916.84 84.7

Adjusted PAT 9033 1029.26 12786.34 338.9

Non Recurring Items 83 0 0 0

Other Non Cash adjustments 0 0 0 0Reported Net Profit 9116 1029.26 12786.34 338.9

Earnings Before Appropriation 29109 5254.86 30918.54 1011.5

Equity Dividend 2009 0 3593.7 49.7

Preference Dividend 0 0 19 0

Retained Earnings 26697 5254.86 26593.66 953.7


8/13

Ratio Comparison

Ratios (Rs in Cr.)

Infosys Oracle

Financial Ser

Tata

Consultancy

Mind

Tree Ltd.

Mar`13 Mar` 13 Mar` 13 Mar` 13

PER SHARE RATIOS

Adjusted E P S (Rs.) 157.30 0.00 122.44 65.23 81.59

Adjusted Cash EPS (Rs.) 173.95 0.00 129.41 69.33 96.62

Reported EPS (Rs.) 158.75 0.00 122.44 65.23 81.59

Reported Cash EPS (Rs.) 175.40 0.00 129.41 69.33 96.62

Dividend Per Share 42.00 0.00 0.00 22.00 12.00

Operating Profit Per Share (Rs.) 191.82 0.00 133.59 73.09 108.82

Book Value (Excl Rev Res) Per Share (Rs.) 627.95 0.00 867.46 165.86 316.29

Book Value (Incl Rev Res) Per Share (Rs.) 627.95 0.00 867.46 165.86 316.29

Net Operating Income Per Share (Rs.) 640.24 0.00 349.45 247.42 568.63Free Reserves Per Share (Rs.) 0.00 0.00 0.00 0.00 0.00

PROFITABILITY RATIOS

Operating Margin (%) 29.96 0.00 38.22 29.54 19.13

Gross Profit Margin (%) 27.36 0.00 36.23 27.88 16.49

Net Profit Margin (%) 23.38 0.00 30.46 25.24 14.13

Adjusted Cash Margin (%) 25.62 0.00 32.20 26.82 16.74

Adjusted Return On Net Worth (%) 25.05 0.00 14.11 39.32 25.79

Reported Return On Net Worth (%) 25.28 0.00 14.11 39.32 25.79

Return On long Term Funds (%) 34.03 0.00 20.63 48.19 32.24

LEVERAGE RATIOS

Long Term Debt / Equity 0.00 0.00 0.00 0.01 0.00

Total Debt/Equity 0.00 0.00 0.00 0.01 0.01

Owners fund as % of total Source 100.00 0.00 100.00 99.19 98.13

Fixed Assets Turnover Ratio 1.12 0.00 0.43 1.68 2.02

LIQUIDITY RATIOS

Current Ratio 4.75 0.00 6.98 2.90 2.69

Current Ratio (Inc. ST Loans) 4.75 0.00 6.98 2.85 2.39

Quick Ratio 4.69 0.00 6.91 2.88 2.59

Inventory Turnover Ratio 0.00 0.00 0.00 7,638.32 0.00

PAYOUT RATIOS

Dividend payout Ratio (Net Profit) 26.45 0.00 0.00 39.30 17.05Dividend payout Ratio (Cash Profit) 23.94 0.00 0.00 36.97 14.40

Earning Retention Ratio 73.30 0.00 100.00 60.70 82.95

Cash Earnings Retention Ratio 75.86 0.00 100.00 63.03 85.60

COVERAGE RATIOS

Adjusted Cash Flow Time Total Debt 0.00 0.00 0.00 0.01 0.06

Financial Charges Coverage Ratio 0.00 0.00 0.00 540.06 487.00

Fin. Charges Cov.Ratio (Post Tax) 0.00 0.00 0.00 444.80 402.30


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COMPONENT RATIOS

Material Cost Component(% earnings) 0.00 0.00 0.00 0.05 0.00

Selling Cost Component 0.00 0.00 0.00 0.00 0.00

Exports as percent of Total Sales 98.21 0.00 95.63 94.87 95.75

Import Comp. in Raw Mat. Consumed 0.00 0.00 0.00 74.42 0.00

Long term assets / Total Assets 0.23 0.00 0.13 0.30 0.43Bonus Component In Equity Capital (%) 93.26 0.00 73.89 79.65 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


10/13

Management Team

Name DesignationAnn 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 DirectorS 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


11/13

Shareholding Pattern

Category of ShareholderNo. of

ShareholdersTotal No. of

SharesTotal No. of Shares

held in

Dematerialized Form

Total Shareholding asa % of Total No. of

Shares

Shares pledged ootherwise encumbe

As a % of

(A+B)

As a % of

(A+B+C)

Number

of shares

As a

% of To

No. of

Shares

(A) Shareholding of Promoter

and Promoter Group

(1) Indian

Individuals / Hindu

Undivided Family

19 91508078 91508078 18.90 15.94 0 0

Sub Total 19 91508078 91508078 18.90 15.94 0

(2) Foreign

Total shareholding of

Promoter and Promoter

Group (A)

19 91508078 91508078 18.90 15.94 0

(B) Public Shareholding

(1) Institutions

Mutual Funds / UTI 363 31555884 31555884 6.52 5.50 0

Financial Institutions /

Banks

27 216171 216171 0.04 0.04 0

Insurance Companies 203 56389738 56389738 11.65 9.82 0

Foreign Institutional

nvestors

897 233412566 233402966 48.21 40.65 0

Sub Total 1490 321574359 321564759 66.42 56.00 0

(2) Non-Institutions

Bodies Corporate 2730 2743146 2730346 0.57 0.48 0

Individuals

Individual

shareholders holding nominal

share capital up to Rs. 1 lakh

356718 39154915 38056744 8.09 6.82 0


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Individual

shareholders holding nominal

share capital in excess of Rs. 1

akh

279 19934459 19692059 4.12 3.47 0

Any Others (Specify) 6989 9231876 9230240 1.91 1.61 0

NRIs/OCBs 6934 5678423 5676787 1.17 0.99 0

Trusts 55 3553453 3553453 0.73 0.62 0

Sub Total 366716 71064396 69709389 14.68 12.38 0

Total Public shareholding (B) 368206 392638755 391274148 81.10 68.38 0

Total (A)+(B) 368225 484146833 482782226 100.00 84.31 0

(C) Shares held by Custodiansand against which Depository

Receipts have been issued

0 0 0 0.00 0.00 0

(1) Promoter and Promoter

Group

0 0 0 0.00 0.00 0

(2) Public 1 90089333 90089333 0.00 15.69 0

Sub Total 1 90089333 90089333 0.00 15.69 0

Total (A)+(B)+(C) 368226 574236166 572871559 0.00 100.00 0


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