Infosys (INFY: Rs1,567.45) offers earnings yield of 2.5%, hits 86-day high 03 August 2022

NEWS BITES - BRIC

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Infosys Ltd. (NSE:INFY), India's 2nd largest IT consulting & software company by market cap,ranks 20 in the Top 20 by earnings yield stocks in the BSE SENSEX Index of 31 stocks.

Note: Earnings yield is the inverse of the P/E ratio.

Rank 20 by earnings yield in BSE SENSEX Index. Rank 1 is highest.

Last price: Rs1,567.45;

FY 2022 EPS: Rs52.52;

The earnings yield of 2.5% is below the 10-year bond yield of 7.2%.

INFOSYS Stock Dashboard (traded in Indian Rupee, INR)

ExchangeINDIANSectorIT Consulting & Software
Currency1.000 USD = 78.493 Indian Rupees (INR)Independent Sector RankingRanked 492 in Forbes2000
Aug 03, 2022Rs1,567.45Market CapRs6,595 billion [$84 billion]
P/E (FY2022)40.3Shares Outstanding4,207,620,719
EPS (FY2022)Rs53% Held by 25 Promoters & Promoter Group13.1%
Dividend Yield (TTM)2%% Held by 2,128,801 Public shareholders86.6%
DPS (past 12 months)Rs30INFY in IndicesSENSEX, IT
EPS Growth % (Q4 2022 vs Q4 2021)13.4Independent Sector comparison by Dividend Yield % (TTM)Stock: 1.98; Sector: 2.12. 6.6% Premium to sector av
Ave Daily Volume6,826,246 sharesIndependent Sector comparison by P/EStock: 40.34; Sector: 29.04. 28% Premium to sector av
52-Week Range1,367.15 - 1,933.42

Financial News

Quarterly Report (Q4/2022):

Release Date: May 18, 2022

Quarterly Report Analysis Q4 2022: Infosys reports EPS of INR13.56 (US17.87c)

Infosys (BSE:500209; NSE:INFY) announced EPS of INR13.56 (US17.87c) for the quarter-ended 31 March 2022 [Q4/2022].

Quarterly Report (Q4 2022)

Quarter-ended31 Mar [Q4/2022]31 Dec [Q3/2021]30 Sep [Q2/2021]
EPSINR13.618.0paiseINR12.9
Sequential growth in EPS %7,433-995.2
Revenue, INR32,913 crores425 crores30,126 crores
Revenue, $4.3billion56.0million4.0billion
Sequential growth in Revenue %7,644-995.6
Net Profit, INR5,686 crores77.4 crores5,421 crores
Net Profit, $ million74910.2714
Sequential growth in Net Profit %7,246-994.4

Compared with the Previous Corresponding Period [PCP; Q4/2021], year-over-year [y.o.y.] EPS was up 13.4%, Revenue was up 22.6% and Net Profit was up 12%.

Quarter-ended31 Mar [Q4/2022]31 Mar [Q4/2021]
EPS, INR13.612.0
PCP growth in EPS %1317
Revenue, INR32,913 crores26,856 crores
Revenue, $ billion4.33.5
PCP growth in Revenue %22.612.5
Net Profit, INR5,686 crores5,076 crores
Net Profit, $ million749669
PCP growth in Net Profit %12.017.5

Bearish Turning Point

Relative Strength Index (RSI)

The Relative Strength Index (RSI) of 71.1 has penetrated the overbought line of 70, suggesting the price gain of 9.6% in the last 14 days is unusually high. The RSI was previously 65.5.

Stock vs Index (Annual Percentage Change)

December 31Share price of Infosys Ltd.of BSE SENSEX Index
202153.322.0
202076.015.8
201914.614.4
201831.05.9
20179.89.3

The stock has consistently outperformed the BSE SENSEX Index in each of the past 5 years

years: 2021,2020,2019,2018,2017;5 of the past 5 years

INDEX

SECTION 1 THE PAST QUARTER: FINANCIALS, ESG

SECTION 2 THE PAST QUARTER: PRESS RELEASES AND CORPORATE WIRE

SECTION 3 THE PAST QUARTER: NEWS AND BUZZ

SECTION 4 TODAY'S BULLISH SIGNALS

SECTION 5 ONGOING BULLISH PARAMETERS

SECTION 6 TODAY'S BEARISH SIGNALS

SECTION 7 ONGOING BEARISH PARAMETERS

SECTION 8 CORPORATE PROFILE

SECTION 9 FINANCIALS Q4 2022, FY 2022

SECTION 10 TAX & DIVIDEND

SECTION 11 TOP MANAGEMENT

SECTION 12 BOARD OF DIRECTORS

SECTION 13 FINANCIALS AS REPORTED Q4 2021-22, FY 2022, PAST 7 YEARS

SECTION 14 TOP SHAREHOLDERS

SECTION 15 PEER COMPARISON & RANKING OF INFY

SECTION 16 PATENTS

SECTION 17 CURRENCY SYNOPSIS: INDIAN RUPEES (INR)

SECTION 18 STOCK IDENTIFIERS

GLOSSARY

DATA & ARCHIVE DOWNLOAD CENTER

INFY: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:

+ PRICE VOLUME - 5-YEAR HISTORY

+ FINANCIALS - 10-YEAR HISTORY [INCLUDING Q4/2022]:

+ PEER COMPARISON - STOCK IN IT CONSULTING & SOFTWARE SECTOR AND STOCK IN INDICES

+ PATENTS - CATEGORISED LIST OF 5-YEAR HISTORY OF 67 :

INFY: LINKS IN HTML TO FURTHER INFORMATION:

+ NEWS ARCHIVES - INFY PAST 4 YEARS IN HTML:

+ STOCK BUZZ IN HTML

+ PRICE VOLUME CHARTS IN HTML

+ USD vs INR EXCHANGE RATE CHARTS IN HTML

+ BOARD OF DIRECTORS

SECTION 1 THE PAST QUARTER: FINANCIALS, ESG

1.1 INFY Financials Summary: EPS up 15.2% to Rs52.52 in FY2022 [ y.e. 31 Mar 2022]

+ Net profit was up 14.3% from $2.5 billion in FY2021 to $2.8 billion in FY2022.

+ Earnings Per Share (EPS) was up 15.2% from Rs45.61 in FY2021 to Rs52.52 in FY2022.

Year ended MarFY2022FY2021FY2020
Sales ($ B)15.813.111.9
Pretax ($ B)3.83.42.8
Net ($ B)2.82.52.1
EPS (INR)52.5245.6138.97

1.2 June 23: Infosys Honored with HFS OneOffice(TradeMark) Awards in the Sustainability and Innovation Ecosystem Categories

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has won two HFS OneOffice(TradeMark) Awards in the 'Sustainability' and 'Innovation Ecosystem' categories. The recognition by HFS Research, a leading global analyst firm, attests to Infosys' overall environmental, social, and governance (ESG) leadership across both its own internal and ecosystem sustainability along with the ability to meet clients' complex needs through Infosys' Fintech Ecosystem.

Infosys was recognized as a winner among 200 entries for demonstrating excellence and consistency in driving unmatched value for its clients while making a positive impact on both global and local environments, communities, societies, and economies.

Infosys won the HFS OneOffice(TradeMark) Award in the sustainability category for aligning its capabilities across consulting, technology, and business services to provide sustainability services as distinct client offerings and a native portfolio element. Infosys was distinguished for leveraging its proprietary tools, platforms, and sustainability-focused partner ecosystem to effectively address all 17 UN Sustainable Development Goals (SDGs) in line with its ESG vision. The award additionally emphasized Infosys' efforts to impart education through the Infosys Springboard platform as part of its corporate social responsibility (CSR) strategy to develop life skills and technical skills that expand opportunities for communities, while promoting gender parity, diversity, and inclusion.

Joshua Matthews, Practice Leader at HFS Research said "Infosys is one firm to watch in 2022 and beyond, as sustainability is set to dominate the agenda of all organizations for the next half-century. Having achieved carbon neutrality across its value chain in 2020, Infosys now hopes to positively impact 80 million lives by 2025 and invest heavily in efforts to restore biodiversity, particularly in locations where it operates.

June 14: Infosys Collaborates with Harvard Business Publishing to Provide Digital and Life Skills to India's Next Generation through Infosys Springboard

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting and Harvard Business Publishing, today announced their collaboration to empower India's next generation, through Infosys Springboard, with critical digital and life skills made available free of cost. This is part of the continued efforts Infosys is making to empower 10 million plus people with digital skills by 2025 - a goal integral to Infosys' ESG Vision 2030.

Harvard Business Publishing turns provocative ideas influencing business - fueled by the latest thinking in Harvard Business School, Harvard Business Review, and world-renowned experts - into impactful and actionable skill-building and learning resources. Through this collaboration, student and young learners in India will now be able to access resources including select Harvard Business Review articles, videos, and podcasts, as well as 10 Harvard ManageMentor courses on topics such as Project Management, Change Management, Innovation and Creativity.

"We are excited to team up with Infosys on this important learning initiative that would drive employability amongst underserved students and youth, consistent with Harvard Business Publishing's mission and ESG goals. By providing access to the most critical ideas shaping leaders today and tomorrow, together with Infosys, we are keen to help empower future generations with the skills they need to succeed," said, Vinay Hebbar, Senior Vice President and Head of International Markets at Harvard Business Publishing.

"In collaboration with Infosys, we curated timeless and timely thought leadership, contextualized to the needs of the learners to support life skills and capabilities to enable employability " said Sumit Harjani, Country Manager - India & Regional Head - Corporate Learning, Asia Pacific at Harvard Business Publishing.

Infosys will partner directly with institutional schools and colleges to help share high-quality learning content - focused on employability - to underserved students and young adults in tier-2 and tier-3 Indian cities.

"We are pleased to be teaming with Harvard Business Publishing to prepare learners with the skills they need for the future.

April 07: Infosys Earns Highest ESG Scores, Ranks First Among Top 100 Companies in India

Bengaluru, India - April 07, 2022 - Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has topped Stakeholders Empowerment Services' (SES) Environment, Social, Governance (ESG) score in their latest report 'ESG Scores - Top 100 Listed Companies in India'.

SES, a corporate governance research and advisory firm, assessed the ESG performance of top 100 listed companies across 17 sectors in India. Infosys was recognized for receiving the highest average overall score of 80 on 100 which equals to an 'A' grade.

In the SES scoring model, companies were assessed based on FY2019-20 data and broadly on four parameters: Policy, Environment, Social, and Governance. Infosys scored 92 in policy disclosures, 76 in Environment, 75 in Social, and 84 in governance. The analysis was conducted using SES' proprietary evaluation model to garner insights from 315 pre-determined questions, 1,239 parameters and 2,200+ individual data points, all based on public disclosures. The proprietary model was developed by SES and was vetted by technical partners. The report also acknowledged Infosys' efforts in shaping and sharing solutions that serve the development of businesses and communities sustainably.

J.N. Gupta, Managing Director, Stakeholders Empowerment Services, said, "We congratulate Infosys, its Board and Management for their commitment to excel leading to their all-round performance on the Environment, Social and Governance fronts. Infosys' performance is all the more commendable as many of the parameters are not mandated but disclosed voluntarily. The SES model has taken into account Indian regulations. As ESG is an evolving area, SES is hopeful that performance of Indian companies will improve over the next two years when SEBI Regulations on Business Responsibility and Sustainability Reporting (BRSR) are implemented and corporates, in order to excel and attract green capital, make ESG an area of focus.

SECTION 2 THE PAST QUARTER: PRESS RELEASES AND CORPORATE WIRE

June 27: Infosys announces AGM

Infosys has announced its Annual General Meeting will take place on Saturday, June 25.

June 29: Infosys Named 2022 Microsoft Security Modern Endpoint Management Partner of the Year Award Winner

Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced it won Microsoft's 2022 Modern Endpoint Management Partner of the Year Award. Showcasing Infosys' diverse and comprehensive capabilities through Infosys Cobalt across Microsoft Cloud, Infosys also announced it was named Finalist in 5 additional Microsoft Partner of the Year Award categories, including:

Cloud Native App Development Analytics Dynamics 365 Supply Chain Management and Intelligent Order Management (IOM) Dynamics 365 Sales Dynamics 365 Commerce

As the winner of Microsoft's Modern Endpoint Management Partner of the Year, Infosys displayed excellence in modern workplace and security transformation. Infosys, in collaboration with Microsoft, created an agile, intelligent, and intuitive modern workplace that supports 80,000+ users at scale for a German client that had recently undergone a corporate merger. Infosys developed a truly hybrid modern workplace for the organization, highlighting its unique ability to leverage the Modern Endpoint Management and Security capabilities of Microsoft 365.

"Infosys and Microsoft have been longstanding strategic partners, and we have continued to expand our joint capabilities, especially through Infosys Cobalt, to help customers across industries accelerate their digital journeys," said Ravi Kumar S, President, Infosys. "Being recognized as a Microsoft 2022 Partner of the Year Award winner is a defining moment in our valued relationship, signaling years of continued innovation together yet to come. This award not only reflects Infosys' mastery of Microsoft implementation, but also showcases our diverse set of capabilities across the cloud."

Infosys' Microsoft Cloud Business accelerates customers' digital journey with the power of cloud through innovation, agility and scale, while delivering specialized capabilities, industry solutions and services.

June 26: Launched: Infosys Cobalt Financial Services Cloud, an Industry Cloud Platform to help Firms Unleash the Power of Cloud-Driven Transformation

Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced the launch of Infosys Cobalt Financial Services Cloud, an industry cloud platform for enterprises to accelerate business value and innovation in the cloud across the financial services industry. Adopted by enterprises globally for enhanced business process transformation and rapid innovation, Infosys Cobalt Financial Services Cloud is a secure, vertical cloud platform that enables enterprises to accelerate cloud adoption, rapidly build cloud native business platforms, drive business agility and growth, foster innovation, and deliver a personalized customer experience.

The Infosys Cobalt Financial Services Cloud platform offers:

Security and regulatory compliance designed and built into the platform. Financial services-specific assets, use case solutions, and microservices, along with reusable frameworks, blueprints, and patterns. Capability to rapidly deliver cloud native business platforms with composable components and services leveraging an open architecture. Low-code apps for use by business and citizen developers and machine learning models offering intelligence and amplification of financial services use cases. Accelerated cloud migration with tools, automation templates, and prebuilt services, and the ability to run on public cloud. Strong alliance partner ecosystem offered through Infosys Cobalt Cloud. Capability to create an integrated ISV and developer marketplace.

Dave Cosgrove, Global Head of Settlements & Middle Office, MarketAxess, said, "MarketAxess is leveraging the Infosys Cobalt Financial Services Cloud platform for reconciliation as a service on cloud. This is helping us scale the reconciliation process on-demand while improving accuracy and transparency.

June 25: Infosys and Palo Alto Networks Collaborate to Secure Complex and Mission-Critical Environments for Global Enterprises

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, and Palo Alto Networks, the global cybersecurity leader, today announced a 360 degree collaboration to elevate the security-maturity of large enterprises with mission-critical digital landscapes and to help prevent the threat of cyberattacks on their critical infrastructure.

Infosys and Palo Alto Networks will bring their combined expertise to accelerate the creation of state-of-the-art network security solutions that will be delivered through the Infosys global network of security operations centers. Infosys and Palo Alto Networks will enhance these security solutions for their worldwide customers like Mercedes-Benz, among others.

Today, Infosys Cyber Next platform offers comprehensive managed security services and delivers swift security maturity supported by Palo Alto Networks Cortex(Registered) XSOAR to over 35 global enterprises through the Infosys Cyber Defense Centre network. Several businesses, the world over, are also taking advantage of Zero Trust based access to resources on the cloud and in their data centers enabled by Infosys SASE-as-a-service powered by Palo Alto Networks Prisma(Registered) SASE. For example, a leading global mining company headquartered in Australia leveraged the solution to transform their security landscape by embracing a cloud-first approach to cyber-protection. Another example is of an American investment management company working with Infosys to protect their cloud workloads against sophisticated threats with Palo Alto Networks Cloud NGFW solutions.

Nikesh Arora, CEO - Palo Alto Networks, said, "It's imperative for organizations to rethink their cybersecurity strategy as part of their digital transformation. Together with Infosys, we are securing enterprises at every stage of the business lifecycle, minimizing security risks while maximizing visibility of the security threat, impact and resolution.

June 23: Backcountry Taps Infosys and Google Cloud to Create Seamless, Secure Digital Experience for Outdoor Enthusiasts

Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced it has been selected by Backcountry, a premier online retailer of outdoor gear and apparel, to deliver a seamless and secure digital experience making it even easier for customers to pursue their outdoor passions. Backcountry also uses Google Cloud to fuel its data-driven transformation and help optimize business outcomes with analytics and real-time insights. As the spring and summer seasons ramp up and more consumers embrace outdoor activities, Backcountry will be prepared for a surge of activity with its agile, cloud-driven business model and ability to identify security risks proactively - preventing any disruption to operations and strengthening protection of customer data.

Leveraging Infosys Cobalt and Google Cloud Platform, Backcountry has embarked on a cloud-driven transformation journey to enhance the customer experience and improve its security posture in an increasingly turbulent cyber landscape. Infosys' Cyber Next platform offers Backcountry real-time visibility into security and ransomware risks, allowing the company to proactively mitigate threats and minimize exposure. Infosys has also provided security threat monitoring with its platforms Cyber Watch, a comprehensive security detection and response platform, and Cyber Scan, a vulnerability risk management platform - both of which fortified Backcountry's business operations. Given the volume of ecommerce transactions Backcountry handles every day, these measures are critical to optimizing security and creating a safe digital shopping environment.

Infosys Cobalt solutions accelerated Backcountry's transformation with Google Cloud and introduced new security and resilience features for eCommerce and backend systems, helping Backcountry to not only secure day-to-day customer transactions, but also their larger business platform.

Backcountry's initial shift to the cloud started by selecting Google Cloud as its platform for digital transformation.

June 09: Infosys and TK Elevator Announce Strategic Collaboration

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a global strategic collaboration with TK Elevator, one of the world's leading elevator companies based out of Dusseldorf, Germany. The global seven-year collaboration is an extension of the successful modernization of TK Elevator's IT infrastructure in Europe and Africa.

As part of this engagement, Infosys will consolidate and harmonize the global service desk and workplace operations. Infosys will provide AI-powered IT helpdesk services, digital workplace management, as well as network services, powered by Infosys Cobalt-driven automation framework. This will humanize TK Elevator's workplace experience by building a resilient enterprise and digitally transforming their underlying IT infrastructure. Infosys will aim to boost cybersecurity and enhance digital experience for TK Elevator's end users, by leveraging its deep domain expertise, industry-grade IT infrastructure modernization capabilities, and a strong global presence. The collaboration, while improving availability of IT infrastructure, will reduce overall IT operational costs.

"At TK Elevator, IT infrastructure is the core of our digital initiatives and we continuously strive to provide state-of-the-art user services. With Infosys as a strategic partner, we are confident to achieve our target of automation, innovation and efficiency across the IT landscape," said, Susan Poon, Global CIO at TK Elevator.

"Infosys will provide our business with high-performance IT services and enhanced user experience for our employees worldwide. Leveraging artificial intelligence and automation will not only make our IT more customer-centric, but will also help improve our customer experience at reduced cost," added John Hemming, Head of Infrastructure at TK Elevator.

Commenting on the collaboration, Jasmeet Singh, Executive Vice President & Global Head, Manufacturing, Infosys, said, "Enterprises globally are repeatedly choosing cloud-based modernization solutions to enable their digital journeys, rendering their businesses more resilient.

June 06: Infosys Foundation to Launch Mobile Medical Services in Karnataka

Infosys Foundation, the philanthropic and CSR arm of Infosys (NSE, BSE, NYSE: INFY), today announced the launch of four mobile laboratories-also called 'Lab Built on Wheels'-to provide cost effective diagnostic solutions and curb the spread of communicable diseases primarily among the rural population of Karnataka.

Infosys Foundation had signed an MoU with Rotary Bangalore Southwest Charitable Trust (Rotary Trust), to support with a grant of INR 4 crores to make these mobile medical laboratories.

Infosys Foundation, together with Rotary Trust, handed the mobile laboratories to the Hon'ble Government of Karnataka in the presence of Sri. Basavaraj Bommai, Hon'ble Chief Minister of Karnataka. The launch event was also attended by Mr. Krish Shankar - Executive Vice President and the Group Head of Human Resource Development, Infosys, and other dignitaries from the government and Rotary Trust.

Rotary Trust had collaborated with Saicorp Health Technologies (SHTPL) who have set up these labs in accordance with BSL level 2 safety standards. Each mobile lab is equipped with a medical unit, pharmacy, and a minimal invasive emergency care unit.

Speaking at the launch event, Krish Shankar - Executive Vice President, Group HR Head, Infosys & Trustee, Infosys Foundation, said, "We have always embraced our responsibility to create a positive impact on the environment and the communities we work in. This is part of a continuous effort by Infosys Foundation to ensure that the underprivileged people in India have affordable, on-time access to clean, hygienic, and appropriate medical treatment and healthcare. We are grateful to the state government for their support and appreciation."

Source: Company Website

May 30: Infosys and Roland-Garros Launch Digital Innovations to Bring Alive the Tournament's Legacy, While Equipping Future Generations Through a New STEM Initiative

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, and the French Tennis Federation (FFT) have today revealed the latest innovations that will usher in a new era of technology-driven sports viewing and fan engagement. The two organizations are kickstarting their five-year extended partnership through a range of 3D, AR, VR and AI powered experiences. Beyond the court, the partnership will also deliver a new STEM1 initiative that leverages tennis as a platform to educate and inspire young people about the impact of science and technology in sport.

The innovations are designed to engage, inspire, and immerse audiences by using technology in ways that will enhance the viewer journey across the tournament's heritage, matches and experience. This includes:

Celebrating history with a Champions Wall and 3D Racket Exhibition - Building on the success of the 2021 Roland Garros 3D Art Museum, fans will be treated to a new 3D immersive exhibition showcasing the evolution of rackets over the tournament's history. This interactive 3D experience will also feature iconic men's and women's champions over the decades. Transformed match viewing with contextual match stats and Patterns of Play - Infosys Stats Flash will track records broken, and performance across the tournament with real-time data overlaid on live match footage. The Infosys Match Center will also feature a new interactive visualization, called Patterns of Play, which delivers in-depth views of player tendencies and winning tactics. Together these capabilities enable a new, data-driven broadcast experience. Pushing the boundaries of the viewing experience through AR and VR capabilities - By pointing the camera of a phone or tablet device at any flat surface, fans will be able to see an augmented reality court with interactive representation of the shots, statistics, positioning and ball trajectories for every point won.

May 24: Australian positivity towards tech for work halved in year two of the pandemic

New consumer research from Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, has found that two years of pandemic-induced reliance on technology for work has altered our relationship with digital apps and services.

When asked what they'd like to see the back of respondents stated they were tired of "Zoom video calls" and "being contactable 24/7". In turn appetite for virtual collaboration tools and video conferencing has dropped, despite the use of technology to enable remote and flexible working being the popular application of digital services.

A year prior, in November 2020 Infosys' CX to HX report revealed that tech was bringing Australians more joy, flexibility, and empowerment than ever before. This time around respondents spoke of "a love-hate relationship" with using tech for work, reflecting in part on the ease of it, but also referring to it as "exhausting" and "depressing".

This follows reports of employee tracking software having become the 'new normal', while Google data suggests our virtual working lives are here to stay with foot traffic into offices yet to return to pre-pandemic levels as of April 2022.

Andrew Groth, Executive Vice President Region Head, Australia & New Zealand commented; "as employers continue to evolve and advocate for digital tools, they need to keep in mind the mental strain people are experiencing with uncapped screen time. Digital Fatigue means less clarity and creativity, resulting in a reduced capability to innovate and explore new ideas."

Interestingly the study also revealed New Zealanders experienced a much smaller drop in positive sentiment - from 57% in '20 to 41% in '21 - suggesting that Australia being home to Melbourne, the world's most locked down city, may have greatly impacted local sentiment.

Matt Kain, WONGDOODY President APAC reflected on this point, stating; "fatigue is not universal, a fact that will challenge global businesses that are designing with employee welfare in mind - underscoring the need for personalisation".

From good to best - what's next for digital services?

Respondents were twice as likely to feel neutral about using tech for leisure this time around, but anecdotal responses suggested it's easier to strike a balance between our virtual and physical lives outside of work.

There's plenty of positives too with the elderly and immunocompromised having described their online lives as a "life-line" and "empowering".

In terms of what people want more of, speed and ease of use increased its lead as the most important factor for Australians, with 80% of respondents calling this out as the leading driver of brand loyalty.

Andrew Groth commented; "consumers are calling for digital experiences that are quick and easy so getting those basics right then going beyond that to create the kind of entertaining, empowering and helpful experiences people want is where a valuable point of difference exists."

"Meanwhile, the metaverse concept represents a nascent potential for brands and users to connect in completely new ways and truly transform the digital era.

2.1 Infosys issued 1 new patents in the past quarter

Infosys (INFY) has been issued 1 new patents by the USPTO & EPO.

To view details, click on link shown in the DATA & ARCHIVE DOWNLOAD CENTER.

SECTION 3 THE PAST QUARTER: NEWS AND BUZZ

Source: Other Publishers

Aug/JulHeadlinePublisher
Tue 02Infosys Finacle Inducted to IFSCA Regulatory Sandbox to Power Blockchain-Based Trade FinanceInfosys
Mon 01Reliance, Infosys among stocks to buy; may rally up to 32% on Q1 results, global market to set directionThe Financial Express on MSN.com
Fri 29Sensex and Nifty50 jump 1% amid buying across sectors Infosys, Reliance and TCS top boostscnbctv18
Tue 26RIL, Infy results fail to cheer investorsThe Hans India
Tue 26Infosys Strengthens its Presence in Singapore; Commits to Creating 300 New Jobs for SingaporeansYahoo
Mon 25Infosys surprises the Street with higher revenue guidance but margin falls short of estimatesCNBCTV18 on MSN.com

Please view more Stock Buzz stories in DATA DOWNLOAD CENTER

SECTION 4 TODAY'S BULLISH SIGNALS

4.1 PAST WEEK: MODERATE MOMENTUM UP - INFY gains 6.6% on volume 0.9 times average

Infosys (INFY) outperformed the BSE SENSEX Index in 3 out of 5 days. The price ranged between a low of Rs1,517.40 on Thursday Jul 28 and a high of Rs1,567.45 on Wednesday Aug 03.

DateInfosysClose [INR]Change %RPC % *Comment
Thu Jul 28Up 4.6% in 2 days1,517.43.21.4Top Rise
Fri Jul 29Lifts 2.0%, hits 81-day high1,549.72.10.8Rises for a third consecutive day
Mon Aug 01Increases Rs2.0, hits 84-day high1,551.050.1-0.8VI*=1.1
Tue Aug 02Offers earnings yield of 2.5%1,543.6-0.5-0.6Steepest Fall
Wed Aug 03Rises in 4 out of last 5 days; 5-day rise of 6.6%1,567.451.51.2Week-high of 1,567.45

* RPC - Relative Price Change is % price change of stock less % change of the BSE SENSEX Index.

[Volume Index (VI); 1 is average]

4.2 Rank in the top 23% by Relative Valuation in the Indian market

DescriptionValueRank
EV/EBITDA20.3In Top 19%
Dividend Yield %2%In Top 23%

4.3 Rank in the top 21% by Price Performance in the Indian market

DescriptionValueRank
1-week Price Change %6.6In Top 21%

4.4 Put Call Ratio

Put Call Ratio decreases 13.0%

Put Call Ratio1 Day1 MonthInterpretation
Change %-13.0-3.9Uptrend

4.5 Put Call Contracts

The Put/Call ratio has declined from 0.756 to 0.658 suggesting an uptrend.

Put ContractsCall ContractsPut/Call ratio
Today4,462,8006,786,3000.658
Previous day4,903,8006,490,5000.756

4.6 Top traded call options [1 contract is 1200 shares]

Exercise PriceExercise DateOption PriceChange %Contracts Traded
Rs1,800.0October 27, 2022Rs13.02.02

4.7 Uptrend

Positive MACD:

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 1,519.55 minus the 26-day EMA of 1,500.05 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

Past Month:

- Rises to Falls: In the past month the number of rises outnumbered falls 14:9 or 1.6:1.

Past Quarter:

- The shares had their best quarter in three quarters since the quarter ended November 03, 2021.

4.8 Undervaluation

- Earnings yield of 2.5% is more attractive compared with the Indian average earning yield of -135.1%.

- The earnings yield of 2.5% is below the 10-year bond yield of 7.2%.

(All figures in %)

Earnings Yield2.5
Indian avg-135.1
Dividend Yield2.0
Bond Yield7.2

4.9 Other Bullish Signals

- Total Liabilities/EBITDA of 1.3 is less than 5, this compares favourably with the Joseph Piotroski benchmark of 5.

- Return on Capital Employed of 35.7% versus sector average of 31.7% and market average of 1.2%.

- Net profit margin has averaged 18.2% in the last 3 years. This is considered superior and suggests a high margin of safety.

- As per the Du Pont analysis, Return on Equity is high at 29.2%. This is computed as net profit margin of 17.9% times asset turnover [sales/assets] of 1.1 times leverage factor [total assets/shareholders' equity] of 1.6.Also, this has improved from 25.3% last year.

ROE (%)Profit Margin (%)Asset TurnoverLeverage factor
Current Year29.217.91.11.6
Previous Year25.318.90.951.4

SECTION 5 ONGOING BULLISH PARAMETERS

5.1 Growth in dividends per share and earnings per share

- Infosys sees dividend rise for a second consecutive year

Infosys reported dividends per share of Rs31.0 in the past year, up 14.8% from the previous year. This is the second consecutive dividend increase. In the past 2 years average annual compound growth rate of dividends was 33.1%.

- EPS growth [FY2022 vs FY2021] of 15.2%:

FYEPS (Rs)Growth %
202252.5215.2
202145.6117.0

5.2 Rule of 40

The stock scores a favorable score exceeding 40 when using the Rule of 40 (Revenue Growth plus EBITDA margin). Y.o.y revenue growth of 21%, EBITDA margin is 27.1% and the sum of the two 47.8% needs to exceed 40%.

5.3 Rank in the top 5% by Size in the Indian market

DescriptionValueRank
Ave daily TurnoverRs8.7 billion ($111.2 million)In Top 1%
Tr 12 months RevenueRs919.8 billion ($11.7 billion)In Top 2%
MCap$84 billionIn Top 5%

5.4 Rank in the top 24% by Performance in the Indian market

DescriptionValueRank
EBITDA Margin %27.1In Top 23%
Net Profit Margin %17.9In Top 24%

5.5 Rank in the top 6% by Productivity in the Indian market

DescriptionValueRank
Return on Capital Employed [ROCE] %35.7In Top 4%
Return on Assets [ROA] %18.8In Top 6%
Return on Equity [ROE] %29.2In Top 6%

5.6 INR1000 in Infosys grows to Rs2,897,105 in 27 years

Infosys closed at Rs0.64 when it was first listed on February 08, 1995. The present value of INR1,000 (PV1000) invested in Infosys on the date of listing is Rs2,897,105 including a capital gain of Rs2,465,483 and dividends reinvested of Rs430,622. This corresponds to an outstanding average annualized return of 33.6%.

5.7 Present Value of Rs1000 Invested in the Past [3 Mo, 3 Yrs]; The Best Periods with PVRs1000 > 1,042

PVRs1,0003 mo ago3 yrs ago
INFY.NSERs1,043Rs2,313
It Consulting & Software sectorRs945Rs1,700
BSE SENSEX IndexRs1,032Rs1,572

5.8 Past 3 years: price rise of 116.1%

3-Year price change of 116.1% for Infosys outperformed the change of 57.2% in the BSE SENSEX Index for a relative price change of 58.9%.

Price Change %3 Years
Infosys116.1
IT Consulting & Software sector70
BSE SENSEX Index57.2

5.9 MCap: 5-Year Increase of Rs4,325 billion [$55 billion] (190%)

In the past 5 years Market Capitalization has increased by Rs4,324.8 billion (190%) from Rs2,270.5 billion to Rs6,595.2 billion. Based on a dynamic start date of 5 years ago, there has been only 1 decline in MCap over the last 5 years.

PriceMCap (INR B)MCap ($ B)
LastRs1,567.456,595.284
1 Year agoRs1,623.477,050.194.9
2 Years agoRs927.404,113.955.1
3 Years agoRs725.483,388.349
4 Years agoRs614.172,941.943
5 Years agoRs433.912,270.535.4

5.10 Infosys sees dividend rise for a second consecutive year

Infosys reported dividends per share of Rs31.0 in the past year, up 14.8% from the previous year. This is the second consecutive dividend increase. In the past 2 years average annual compound growth rate of dividends was 33.1%.

5.11 Sequential growth in EPS [Q4/2022 vs Q3/2021] of 7,433.3%:

The most recent quarter (Q4/2022) showed a rise of 7,433.3% in sequential growth of Quarterly EPS.
Quarterly ReportEPSGrowth %
Q4/2022Rs13.567,433.3
Q3/2021Rs0.18-98.6

5.12 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 22%

TSR %3 yrs5 yrs10 yrs20 yrs
INFY.NSE31.933.123.822.1

5.13 Low Debt to Equity (%)

The debt to equity ratio of 28.1% is under a safe benchmark figure of 50%. However, it has deteriorated in the past three years.

YearsDebt to Equity (%)
Mar 202228.14
Mar 202121.77
Mar 202016.86
Mar 201810.7

5.14 Increased Volume, up 19% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has increased 19.3% to 6.8 million shares.

Avg. Daily Volume Traded 12 months ended Aug 03, million shares

YearADVT
20226.8
20219.1
202011.5
20198.4
20185.7

5.15 Increased VWAP, up 250% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 249.5% to Rs1,653.92. Based on a dynamic start date of five years ago, there has been no decline in VWAP over the last 5 years.

Past five years, 12 months ended Aug 03 (INR)

YearHigh PriceVWAPLow Price
20221933.421653.921367.15
20211626.851192.97875.66
2020947.04696.02482.34
2019752.04657.21550.25
2018632.38473.25375.66

5.16 Increased share turnover, up 109% in 5 years

In the past five years, average daily share turnover has increased 109.3% to Rs11.3 billion ($143.8 million). This suggests increased liquidity.

Past five years, 12 months ended Aug 03 (INR billion)

YearAverage Daily Turnover
202211.3
202110.8
20207.8
20195.6
20185.4

5.17 Growth > 7,246% for Revenue and Net Profit:

- Revenue and Net Profit growth have shown signs of recovery in recent quarters. [All figures in %]

Qtr-endedRevenue GrowthNet Profit GrowthNet Profit Margin
Mar 22 [Q4 vs Q3]7,644.27,246.317.3
Dec 21 [Q3 vs Q2]-98.6-98.618.3

5.18 Satisfies one criterion of Benjamin Graham

-"Total debt less than tangible book value"; total debt of INR213.1 billion (US$2.8 billion) is less than tangible book value of INR630.1 billion (US$8.3 billion).-"Total debt equal or less than twice the net quick liquidation value"; total debt of INR213.1 billion (US$2.8 billion) is 0.5 times the net liquidation value of INR458.74 billion (US$6 billion).

5.19 Year-over-year (%) Change in Dividend:

Final dividend for FY 2022 was Rs16.0. The year-on-year change was up 6.7% from Rs15.0 in the previous year FY 2021.

FinalFY 2021FY 2022
Dividend (INR)15.016.0

SECTION 6 TODAY'S BEARISH SIGNALS

6.1 Rank in the bottom 19% by Relative Valuation in the Indian market

DescriptionValueRank
Price/Earnings40.3In Bottom 19%
Price to Sales7.2In Bottom 14%
Price/Earnings/Growth2.66In Bottom 9%
Price to Book Value10.5In Bottom 6%
P/E * P/NTA422.36In Bottom 1%

6.2 Falling open interest with rising price

Open Interest Trend

Same day trend: The price increased 1.5% from Rs1,543.60 to Rs1,567.45; Open interest has fallen 0.3% from 48,141,900 to 48,004,500. A price rise combined with a decline in open interest suggests the rally is caused by short sellers covering their positions. This indicates money is leaving the market, a bearish signal.

DurationOpen Interest change %Price change %Interpretation
1-day-0.31.5Market is Weakening
1-week-30.56.6Market is Weakening

6.3 Downtrend

Price/Moving Average Price of 0.95:

- The Price/MAP 200 for Infosys is 0.95. Being less than 1 is a bearish indicator. It is lower than the Price/MAP 200 for the BSE SENSEX Index of 1.02, a second bearish indicator. The stock is trading below both its MAPs and the 50-day MAP of Rs1,477.01 is lower than the 200-day MAP of Rs1,657.25, a third bearish indicator.

Past Quarter:

- In the last three months the stock has hit a new 52-week low once.

Trailing Relative Strength (6 months) at 25 percentile:

- The stock has a 6-month relative strength of 25 in the Indian market of 99 stocks indicating it is trailing 75% of the market.

6.4 Overvaluation

MCap/Total Assets:

- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 5.6. Compared with the rest of the market the stock is overvalued and ranks in the bottom 7% of stocks by value of Q Ratio.

6.5 Overbought/Bearish Signals:

- The Relative Strength Index (RSI) of 71.1 has penetrated the overbought line of 70, suggesting the price gain of 9.6% in the last 14 days is unusually high.

- The stock is overbought according to the Williams % R indicator of -0.7, suggesting the price is close to its 14-day high of Rs1,568.50.

SECTION 7 ONGOING BEARISH PARAMETERS

7.1 Rank in the bottom 19% by Growth in the Indian market

DescriptionValueRank
EPS Growth %15.2In Bottom 19%

7.2 Present Value of Rs1000 Invested in the Past Year; The Worst Period with PVRs1000 < 985

PVRs1,0001 yr ago
INFY.NSERs984
It Consulting & Software sectorRs938
BSE SENSEX IndexRs1,084

7.3 Past year: price fall of 3.5%

1-Year price change of -3.5% for Infosys underperformed the change of 10.2% in the BSE SENSEX Index for a relative price change of -13.7%.

Price Change %Year
Infosys-3.5
IT Consulting & Software sector-6.2
BSE SENSEX Index10.2

7.4 Moving Annual Return of -1.5% in the past year:

Moving Annual Return was -1.5% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 35%

INFYClose (INR)Dividends (INR)Capital Gain / (Loss) %% YieldAnnual Return %
Aug 031,567.4531(3.5)1.9(1.5)
1 Yr ago1,623.472775.12.978.0
2 Yrs ago927.417.527.82.430.2
3 Yrs ago725.4821.518.13.521.6
4 Yrs ago614.1721.7541.5546.6

Close 5 years ago Rs433.91

Prices are adjusted for a bonus share. On September 04, 2018 shareholders received 1 additional share for every 1 share held prior to that date.

7.5 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Period with TSR < -1.5%

TSR %1 yr
INFY.NSE-1.6

7.6 P/E/G > 1

The price earnings ratio of 40.3 divided by trailing twelve months eps growth of 15.2% corresponds to P/E/G of 2.7 times.

EPS Growth (%)15.15
P/E/G2.66
P/E40.34

7.7 Satisfies 2 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Return on Assets improvement [from 17.9% to 18.8%].

- Improvement in asset turnover [growth in revenue of 13.7 exceeded growth in assets of 8.8%].

But does not meet the following 7 criteria of Joseph Piotroski:

- Improvement in long-term debt to total assets.

- Improvement in current ratio.

- Total shares on issue unchanged (or reduction in total shares on issue).

- Improvement in gross margin.

SECTION 8 CORPORATE PROFILE

8.1 Activities

Infosys is a global leader in the "next generation" of IT and consulting with revenues of over US$ 4 billion. Infosys defines, designs and delivers technology-enabled business solutions that help Global 2000 companies win in a Flat World. Infosys also provides a complete range of services by leveraging it's domain and business expertise and strategic alliances with leading technology providers. Infosys' service offerings span 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 It is India's 2nd largest IT consulting & software company by market capitalisation.

8.2 Contact Details

Websitehttp://www.infosys.com
Physical AddressElectronics City Plot 44 and 97A Hosur Road Bangalore, 560100 India
Phone080-28520261
Fax28520362
Emailinfosys@infy.com

8.3 Industry & Sector

Classification LevelName of Sector
Industry GroupSoftware & IT Services
IndustryIT Services & Consulting
ActivityIT Services & Consulting - NEC*
Economic SectorTechnology
Business SectorSoftware & IT Services

* NEC: Not elsewhere classified

SECTION 9 FINANCIALS Q4 2022, FY 2022

9.1 Quarterly Financials (Q4/2022)

Infosys reports EPS of INR13.56 (US17.87c)

Release Date: May 18, 2022

Infosys (BSE:500209; NSE:INFY) announced EPS of INR13.56 (US17.87c) for the quarter-ended 31 March 2022 [Q4/2022].

Quarterly Report (Q4 2022)

Quarter-ended31 Mar [Q4/2022]31 Dec [Q3/2021]30 Sep [Q2/2021]
EPSINR13.618.0paiseINR12.9
Sequential growth in EPS %7,433-995.2
Revenue, INR32,913 crores425 crores30,126 crores
Revenue, $4.3billion56.0million4.0billion
Sequential growth in Revenue %7,644-995.6
Net Profit, INR5,686 crores77.4 crores5,421 crores
Net Profit, $ million74910.2714
Sequential growth in Net Profit %7,246-994.4

Compared with the Previous Corresponding Period [PCP; Q4/2021], year-over-year [y.o.y.] EPS was up 13.4%, Revenue was up 22.6% and Net Profit was up 12%.

Quarter-ended31 Mar [Q4/2022]31 Mar [Q4/2021]
EPS, INR13.612.0
PCP growth in EPS %1317
Revenue, INR32,913 crores26,856 crores
Revenue, $ billion4.33.5
PCP growth in Revenue %22.612.5
Net Profit, INR5,686 crores5,076 crores
Net Profit, $ million749669
PCP growth in Net Profit %12.017.5

Currency Conversion (March 31, 2022): $1 = INR75.9; 1 crore = 10,000,000 and $1 million = Rs7.59 crores.

Currency Conversion (March 31, 2021): $1 = INR73.51

9.2 Financials, FY 2022 [year-ended 31 March 2022 ]

Infosys EPS Growth slows to 15%

Release Date: May 18, 2022

Infosys (BSE:500209; NSE:INFY), announced EPS of INR52.52 (US69.2c) for the year-ended 31 March 2022 [FY2022], up 15% from INR45.61 (US62.05c) in the previous year-ended 31 March 2021 [FY2021]. EPS growth from the year-ended 31 March 2020 [FY2020] to the year-ended 31 March 2021 [FY2021] was 17%.

9.3 Annual growth in Revenue, Net Profit and EPS

Year-ended31 March [FY/2022]31 March [FY/2021]
Revenue, INR123,936 crores102,673 crores
Revenue, $1,633 crores1,353 crores
Growth in Revenue %20.79.7
Net Profit, INR22,110 crores19,351 crores
Net Profit, $291 crores255 crores
Growth in Net Profit %14.316.6
EPS, INR52.5245.61
Growth in EPS %15.217.0

Major changes compared with previous year (FY2022 vs FY2021):

Favourable Changes:

- Net profit up 14.3% from INR19,351.0 crores ($2.6b) to INR22,110.0 crores ($2.9b)

- Total revenue up 20.7% from INR102,673.0 crores ($14.0b) to INR123,936.0 crores ($16.3b)

- EPS up 15.2% from INR45.61 (US62.05c) to INR52.52 (US69.2c)

- EBIT to total assets up from 24.6% to 25.5%

- Total revenue to total assets up from 0.9 to 1.1

Unfavourable Changes:

- EBIT Margin down from 26.5% to 24.8%

- Profit before tax to Sales down from 26.5% to 24.8%

- Debt to Equity up 27.3% from 0.2 to 0.3

- Total liabilities to Total assets up 24.1% from 0.3 to 0.4

- Current ratio down 21.3% from 2.5 to 2.0

Year-on-year comparison of Performance Ratios [FY2022 vs FY2021]

March 31FY2022FY2021Change (%)
Return on Equity (%)29.225.3Up 15.4
Return on Assets (%)18.817.9Up 5
Total debt to net tangible assets (%)33.826.2Up 29
Debt/Equity0.30.2Up 27.3
Common Size Ratios by Assets %
Current Debtors to Total Assets 19.3 17.8 Up 8.4
Long-term investments to Total Assets 12.8 12.0 Up 6.7
Future income tax benefit to Total Assets 1.0 1.0 Down 1.3
Non-current inventory to Total Assets 0.4 0.9 Down 53.0

Currency Conversion (March 31, 2022): $1 = INR75.9; 1 crore = 10,000,000 and $1 million = Rs7.59 crores.

Currency Conversion (March 31, 2021): $1 = INR73.51

Five-year record of growth and performance:

In the last 5 years Total Revenue averaged INR95,342.2Cr ($12.6B), EBITDA averaged INR26,311Cr ($3.5B) and Net Profit averaged INR17,929.4Cr ($2.4B). Compound Annual Growth Rate (CAGR) averaged 11.6% for Total Revenue, 9.0% for Net Profit and 9.2% for EBITDA.

DescriptionAnnual (INR Cr)Annual ($ B)5-year Avg (INR Cr)5-year Avg ($ B)5-year CAGR %
Total Revenue123,93616.395,342.212.611.6
EBITDA33,5864.426,3113.59.2
Operating Profit30,110424,011.23.28.6
Net Profit22,1102.917,929.42.49

Five-year record of EBITDA, Operating Profit, Net Profit, ROE, ROA and ROCE

In 2022 Net Profit Margin of 18.2% was below its 5-year Avg of 19.0% (All Figures in %)

Description20225-year Avg
EBITDA Margin27.127.6
Operating Profit Margin24.825.3
Net Profit Margin18.219
Return on Equity29.225.6
Return on Assets18.818.6
Return on Capital Employed35.732.1

SECTION 10 TAX & DIVIDEND

10.1 Average Income Tax Paid (Past 5 Years)

In the past 5 years, Income Tax as % of profit before tax increased from 20.9% to 26.4% and Income Tax as % of operating cash flow increased from 19.2% to 23.7%.

Description202220212020201920185-yr avg10-yr avg
As % of profit before tax26.427.124.426.820.925.126.7
As % of operating cash flow23.724.121.626.819.223.124.6

10.2 Dividend History

In the past 5 years annual dividends have increased by INR9.2 from INR21.8 to INR31.0. Based on a start date of 5 years ago, there has been only two decline in dividends over the last 5 years.

DateValue (INR)Type
31 May 202216Final
26 Oct 202115Interim
Tr 12 Months31
2020 - 202127
2019 - 202017.5
2018 - 201921.5
2017 - 201821.75

SECTION 11 TOP MANAGEMENT

11.1 Top Management

Top Management [One top executive with tenure > 4 yrs]

NameDesignationSince Appointment
Nandan NilekaniChairman4 Yrs, 11 Mos

Top Management [One top executive's tenure Not Available]

NameDesignation
Salil S. ParekhChief Executive Officer, Managing Director

11.2 Profiles of Top Management

Salil S. Parekh

CEO & Managing Director

Salil Parekh, as Chief Executive Officer and Managing Director, sets and evolves the strategic direction for the company and its portfolio of offerings, while nurturing a strong leadership team to drive its execution. Salil has nearly three decades of global experience in the IT services industry with a strong track record of driving digital transformation for enterprises, executing business turnarounds and managing successful acquisitions.

Most recently, Salil was a member of the Group Executive Board at Capgemini, where he held several leadership positions for 25 years. He was responsible for overseeing a business cluster comprising Application Services (North America, UK, Asia), Cloud Infrastructure Services, and Sogeti (Technology & Engineering Services Division). He was responsible for the strategy and execution of these businesses - setting direction and enabling rapid client adoption. He was also the Chairman of Capgemini's North America Executive Council. He was the architect of the North America growth and turnaround strategy, and was instrumental in setting up their offshoring capabilities.

In his earlier role as Partner at Ernst & Young, Salil is widely credited for bringing scale and value to the Indian operations of the consultancy firm.

He holds Master of Engineering degrees in Computer Science and Mechanical Engineering from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.

Nandan Nilekani

Chairman

Nandan Nilekani is the Co-founder and Chairman of EkStep, a not-for-profit effort to create a learner centric, technology based platform to improve basic literacy and numeracy for millions of children. He was most recently the Chairman of the Unique Identification Authority of India (UIDAI) in the rank of a Cabinet Minister. Nandan Nilekani was previously the co-chairman, Infosys Technologies Limited, which he co-founded in 1981.

Born in Bengaluru, Nilekani received his Bachelor's degree from IIT, Bombay. Fortune Magazine conferred him with "Asia's Businessman of the year 2003". In 2005 he received the prestigious Joseph Schumpeter prize for innovative services in economy, economic sciences and politics. In 2006, he was awarded the Padma Bhushan. He was also named Businessman of the year by Forbes Asia. Time magazine listed him as one of the 100 most influential people in the world in 2006 & 2009. Foreign Policy magazine listed him as one of the Top 100 Global thinkers in 2010. He won The Economist Social & Economic Innovation Award for his leadership of India's Unique Identification initiative (Aadhaar). In 2017, he received the Lifetime Achievement Award from E & Y. CNBC- TV 18 conferred India Business leader award for outstanding contributor to the Indian Economy-2017 and he also received the 22nd Nikkei Asia Prize for Economic & Business Innovation 2017.

Nandan Nilekani is the author of "Imagining India" and co- authored his second book with Viral Shah, "Rebooting India: Realizing a Billion Aspirations".

Shareholder Value:

Creation of shareholder value in Infosys:

Since appointment as Chairman: The present value of INR1,000 invested on the appointment date of August 24, 2017 at close price of Rs398.44 is Rs4,542, including a capital gain of Rs2,934 and dividend reinvested of Rs608.

SECTION 12 BOARD OF DIRECTORS

12.1 Board Of Directors

Board Of Directors [One director with tenure < 2 yrs]

NameSince Appointment
Chitra Nayak1 Yr, 4 Mos

Board Of Directors [Six directors tenure Not Available]

Name
D N Prahlad
Ravi Venkatesan
Punita Kumar-Sinha
Kiran Mazumdar-Shaw
D Sundaram
Roopa Kudva

12.2 Profiles of Board of Directors

Roopa Kudva

Independent Director

Roopa Kudva is Managing Director of Omidyar Network India Advisors and Omidyar Network partner. Omidyar Network is a US-based philanthropic investment firm.

Previously, she was the MD and CEO of CRISIL, a global analytical company providing ratings, research, and risk and policy advisory services. She has led CRISIL's evolution from a leading Indian rating agency to a diversified analytical company with clients ranging from the largest investment banks of the world to tens of thousands of small firms spread across India. Under her leadership, CRISIL's market capitalization has grown four-fold from Rs. 2,900 crores to Rs. 14,000 crores, and revenues have tripled.

Ms. Kudva regularly features in lists of the most powerful women in business compiled by prominent publications, including Fortune and Business Today. She is a recipient of several prestigious awards including the 'Outstanding Woman Business Leader of The Year' at CNBC TV18's 'India Business Leader Awards 2012', India Today 'Corporate Woman Award 2014' and Indian Merchants' Chamber Ladies' Wing's 'Woman of the Year' Award 2013-14.

Ms. Kudva is a member of several policy-level committees relating to the Indian financial system, including committees of the Securities and Exchange Board of India and the Reserve Bank of India. She has also been a member of the Executive Council of NASSCOM. She is a regular speaker at global conferences and seminars by multilateral agencies, market participants, and leading academic institutions.

Ms. Kudva holds a postgraduate diploma in management from Indian Institute of Management, Ahmedabad (IIM-A) and also received the 'Distinguished Alumnus Award' from her alma mater.

Ravi Venkatesan

Independent Director

Ravi Venkatesan is the Chairman of the Board at Bank of Baroda. He is also the founder Chairman of Social Venture Partners India, a partner at Unitus Seed Fund and a fund advisor at Kalaari Capital. Ravi serves on the boards of Rockefeller Foundation, Infosys Ltd., and several advisory boards. He is the author of an acclaimed book 'Conquering the Chaos: Win in India, Win Everywhere' published by Harvard Business Review.

Prior to this, as Chairman of Microsoft India between 2004 and 2011, Ravi helped build Microsoft India into Microsoft's second-largest presence in the world. He was instrumental in creating Microsoft India's Project Shiksha, a computer literacy program which has so far trained over 40 million school children in India. Ravi was previously the Chairman of Cummins India and led its transformation into India's leading provider of engines and power solutions. He helped establish the Cummins College of Engineering, India's first engineering college for women, in Pune. Ravi has served on the boards of Harvard Business School, AB Volvo, Bunge, and Thermax.

Ravi has a B.S. from IIT Bombay, an MS from Purdue University, and an MBA from Harvard Business School where he was a Baker Scholar. He is a recipient of the IIT Bombay's Distinguished Alumnus Award and Purdue University's Distinguished Engineering Alumnus Award. He was voted as one of India's best management thinkers by Thinkers50.

Ravi brings a wealth of experience in corporate leadership, globalization, innovation and private sector approaches to social change in addition to a deep understanding of the political economy of India.

Kiran Mazumdar-Shaw

Independent Director

Kiran Mazumdar-Shaw is Chairperson and Managing Director of Biocon Limited, a biotechnology company based in Bangalore, India.

Kiran is highly respected in the corporate world and has been named among TIME magazine's 100 most influential people in the world. The Economic Times placed her at India Inc.'s top 10 most powerful women CEOs for the year 2012. Her pioneering efforts in biotechnology have drawn global recognition for both the Indian industry and Biocon.

Kiran holds a bachelor's degree in Zoology from Bangalore University, India, and is qualified as a Master Brewer from Ballarat University, Australia. She has also received many honorary doctorates in recognition of her pre-eminent contributions to the field of biotechnology.

D N Prahlad

Independent Director

D. N. Prahlad is the Chairman of EdgeVerve Limited.

D. N. Prahlad is the founder and CEO of Surya Software Systems Private Limited, Bangalore. Surya focusses on products for financial risk management of financial institutions in general and banks in particular.

In addition, Prahlad is on the advisory board of Computer Science and Automation Department of Indian Institute of Science, Bangalore. He served as an adjunct faculty at Indian institute of Information Technology, Bangalore in its formative years. He serves as an advisory board member of PathShodh Healthcare, a company with leading edge nano-technology in diagnostic measurements related to diabetes.

Prahlad is a B.Sc. with honours in mathematics from Bangalore University and B.E. (Electrical technology and Electronics) from Indian Institute of Science, Bangalore.

Prior to founding Surya, Prahlad played a key role in the rapid growth of Infosys Technologies, being associated with Infosys from its formative years. He brings with him a high level of experience of working with multiple Fortune 50 clients, creation of new services, products and strategies.

Punita Kumar-Sinha

Independent Director

Dr. Punita Kumar-Sinha has focused on investment management and financial markets during her 25-year career. She spearheaded some of the first foreign investments into the Indian equity markets in the early 1990s. Currently, she is the Founder and Managing Partner, Pacific Paradigm Advisors, an independent investment advisory and management firm focused on Asia. Dr. Kumar-Sinha is also a Senior Advisor and serves as an Independent Director for several companies. Prior to founding Pacific Paradigm Advisors, she was a Senior Managing Director of Blackstone and the Chief Investment Officer of Blackstone Asia Advisors. Dr. Kumar-Sinha was also the Senior Portfolio Manager and CIO for The India Fund (NYSE:IFN), the largest India Fund in the US, for almost 15 years, The Asia Tigers Fund (NYSE:GRR), and The Asia Opportunities Fund.

Prior to joining Blackstone, Dr. Kumar-Sinha was a Managing Director and Senior Portfolio Manager at Oppenheimer Asset Management Inc., and CIBC World Markets, where she helped open one of the first India advisory offices for a foreign firm. She also worked at Batterymarch (a Legg Mason company), Standish Ayer & Wood (a BNY Mellon company), JP Morgan and IFC/World Bank.

Dr. Kumar-Sinha has been frequently featured in the media, including: The Financial Times, The New York Times, The Wall Street Journal, Barron's, Forbes, CNN, CNBC, Fox News, Star News, Bloomberg, ET Now and The Economic Times. She has also anchored a TV series on ET NOW on various global economies, key Indian policy issues and their impact on capital markets. Dr. Kumar-Sinha has been a speaker at many forums and many of her contributions at seminars and conferences have projected the potential and prospects of Asia as an investment destination.

Dr. Kumar-Sinha has a Ph.D. and a Masters in Finance from the Wharton School, University of Pennsylvania. She received her undergraduate degree in chemical engineering with distinction from the Indian Institute of Technology, New Delhi. She is an MBA and also a CFA Charter holder. Dr. Kumar-Sinha is a member of the CFA Institute, the Boston Security Analysts Society and the Council on Foreign Relations. She is a Charter Member and was a Board Member of TIE-Boston. Dr. Kumar-Sinha has been awarded the Distinguished Alumni Award from IIT Delhi.

D Sundaram

Independent Director

D. Sundaram, Vice Chairman & Managing Director, TVS Capital Funds Ltd.

D. Sundaram's experience spans corporate finance, business performance, monitoring operations, governance, mergers & acquisitions, talent/people management and strategy.

Sundaram joined Hindustan Unilever Limited as Management Trainee in June 1975; and served in various capacities as Corporate Accountant, Commercial Manager and Treasurer till 1990. He was seconded to Unilever, London as Commercial Officer for Africa and Middle East Group between 1990 and 1993. He was the Commercial Manager of TOMCO integration team in 1993 / 94. He was CFO of Brooke Bond Lipton from 1994 to 1996 and served in Unilever London between 1996 to 1999, as Sr. Vice President (Finance, IT and Strategy) for South Asia and Middle East. In April 1999 he returned to HUL as Finance & IT Director.

Sundaram was elevated as Vice Chairman of HUL in April 2008. In all, Sundaram has more than 34 years of experience with Hindustan Unilever Limited. He is a two-time winner of the prestigious "CFO of the Year for FMCG Sector" award by CNBC TV18 (2006 and 2008).

He is currently the Vice Chairman and MD of TVS Capital Funds Ltd in partnership with Gopal Srinivasan (TVS family) in a growth capital Private Equity Fund (TVS Shriram Growth Fund.) Assets under Management Rs. 1200 Cr. ($175m). Sundaram brings deep financial expertise and significant understanding of consumer related businesses to the PE operations.

Sundaram is a Post Graduate in Management Studies (MMS), Chennai, Fellow of the Institute of Cost and Management Accountants, and has done Harvard Business School's Advanced Management Programme (AMP).

Sundaram has served as an independent director on the Board of State Bank of India, between Jan 2009 to June 2014; of SBI Capital Markets between 2002 to 2014 and has been a member of the board of governors of Institute of Financial Management and Research, Chennai, since 2005.

He currently serves as an independent director on the boards of SBI General Insurance, GSK Pharma India, Crompton Greaves Consumer Limited and Trent Hyper Market (JV with TESCO).

12.3 Resignations in the past 4 years

NameDesignationDate of Resignation
Jeffrey Sean LehmanIndependent Director25 August 2017
Vishal SikkaDirector24 August 2017
R SeshasayeeDirector24 August 2017
John EtchemendyDirector24 August 2017
R. SeshasayeeNon-Executive Chairman24 August 2017

SECTION 13 FINANCIALS AS REPORTED Q4 2021-22, FY 2022, PAST 7 YEARS

13.1 Financials as reported (Q4/2022)

RESULTS OF OPERATIONS AND FINANCIAL CONDITION

(In INR Million, except per share data and shares outstanding)

INCOME STATEMENT AS REPORTED (Q4/2022)

DescriptionINR MillionINR Million
Mar 3120222021Change %
Revenue from operations322,760263,110Up 22.7
Other income net6,3705,450Up 16.9
Total Income329,130268,560Up 22.6
Expenses
Employee benefit expenses166,580144,400Up 15.4
Cost of technical sub-contractors35,88019,850Up 80.8
Travel expenses3,0901,610Up 91.9
Cost of software packages and others22,68010,720Up 111.6
Communication expenses1,7001,460Up 16.4
Consultancy and professional charges5,2103,950Up 31.9
Depreciation and amortisation expenses8,9008,310Up 7.1
Finance cost500500Steady
Other expenses9,1608,410Up 8.9
Total expenses253,700199,210Up 27.4
Profit before tax75,43069,350Up 8.8
Tax expense:
Current tax18,25016,620Up 9.8
Deferred tax2301,950Down 88.2
Profit for the period56,95050,780Up 12.2
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability/asset net-130-1,460Improved 91.1
Equity instruments through other comprehensive income net55090Up 511.1
Items that will be reclassified subsequently to profit or loss
Fair value changes on derivatives designated as cash flow hedges net-120260Deterioration
Exchange differences on translation of foreign operations1,370-2,660Recovery
Fair value changes on investments net-650-1,370Improved 52.6
Total other comprehensive income/(loss) net of tax1,020-5,140Recovery
Total comprehensive income for the period57,97045,640Up 27.0
Profit attributable to:
Owners of the company56,86050,760Up 12.0
Non-controlling interests9020Up 350.0
56,95050,780Up 12.2
Total comprehensive income attributable to:
Owners of the company57,87045,700Up 26.6
Non-controlling interests100-60Recovery
57,97045,640Up 27.0
Paid up share capital (par value ?5/- each fully paid)20,98021,240Down 1.2
Other equity732,520742,270Down 1.3
Earnings per equity share (par value ?5/- each)
BasicRs13.56Rs11.96Up 13.4
DilutedRs13.54Rs11.94Up 13.4

BALANCE SHEET AS REPORTED (Q4/2022)

DescriptionINR MillionINR Million
Mar 3120222021Change %
ASSETS
Non-current assets
Property plant and equipment130,750125,600Up 4.1
Right of use assets48,23047,940Up 0.6
Capital work-in-progress4,1609,220Down 54.9
Goodwill61,95060,790Up 1.9
Other Intangible assets17,07020,720Down 17.6
Financial assets
Investments136,510118,630Up 15.1
Loans340320Up 6.2
Other financial assets14,60011,410Up 28.0
Deferred tax assets (net)12,12010,980Up 10.4
Income tax assets (net)60,98058,110Up 4.9
Other non-current assets20,29012,810Up 58.4
Total non-current assets507,000476,530Up 6.4
Current assets
Financial assets
Investments66,73023,420Up 184.9
Trade receivables226,980192,940Up 17.6
Cash and cash equivalents174,720247,140Down 29.3
Loans2,4801,590Up 56.0
Other financial assets87,27064,100Up 36.1
Income tax assets (net)540
Other current assets113,13078,140Up 44.8
Total current assets671,850607,330Up 10.6
Total Assets1,178,8501,083,860Up 8.8
EQUITY AND LIABILITIES
Equity
Equity share capital20,98021,240Down 1.2
Other equity732,520742,270Down 1.3
Total equity attributable to equity holders of the Company753,500763,510Down 1.3
Non-controlling interests3,8604,310Down 10.4
Total equity757,360767,820Down 1.4
Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities46,02045,870Up 0.3
Other financial liabilities23,37015,140Up 54.4
Deferred tax liabilities (net)11,5608,750Up 32.1
Other non-current liabilities4,5107,630Down 40.9
Total non-current liabilities85,46077,390Up 10.4
Current liabilities
Financial liabilities
Lease liabilities8,7207,380Up 18.2
Trade payables41,34026,450Up 56.3
Other financial liabilities158,370113,900Up 39.0
Other Current Liabilities91,78062,330Up 47.2
Provisions9,7507,130Up 36.7
Income tax liabilities (net)26,07021,460Up 21.5
Total current liabilities336,030238,650Up 40.8
Total eauitv and liabilities1,178,8501,083,860Up 8.8

CASH FLOW AS REPORTED (Q4/2022)

DescriptionINR MillionINR Million
Mar 3120222021Change %
Cash flow from operating activities
Profit for the period221,46019,420Up 1,040.4
Adjustments to reconcile net profit to net cash provided by operating activities:
Income tax expense79,6407,200Up 1,006.1
Depreciation and amortization34,76032,610Up 6.6
Interest and dividend income-16,450-16,150Deterioration 1.9
Finance cost2,0001,910Up 4.7
Impairment loss recognized / (reversed) under expected credit loss model1,7001,910Down 11.0
Exchange differences on translation of assets and liabilities net1,190-620Recovery
Stock compensation expense4,150330Up 1,157.6
Other adjustments760-910Recovery
Changes in assets and liabilities
Trade receivables and unbilled revenue-79,370-18,350Deterioration 332.5
Loans other financial assets and other assets-19,140-5,340Deterioration 258.4
Trade payables14,890-2,450Recovery
Other financial liabilities other liabilities and provisions69,3803,380Up 1,952.7
Cash generated from operations314,9701,233,750Down 74.5
Income taxes paid-76,120-63,890Deterioration 19.1
Net cash generated by operating activities238,85023,220Up 928.6
Cash flows from investing activities
Expenditure on property plant and equipment and intangibles-21,610-21,070Deterioration 2.6
Deposits placed with corporation-9,060-7,250Deterioration 25.0
Redemption of deposits placed with Corporation7,5305,110Up 47.4
Interest and dividend received18,98014,110Up 34.5
Payment towards acquisition of business net of cash acquired-12,210
Payment of contingent consideration pertaining to acquisition of business-530-1,580Improved 66.5
Escrow and other deposits pertaining to Buyback-4,200
Redemption of escrow pertaining to Buyback4,200
Other receipts67040Up 1,575.0
Other payments-220-450Improved 51.1
Payments to acquire Investments
Tax free bonds and government bonds-3,180
Liquid mutual funds and fixed maturity plan securities-540,640-351,960Deterioration 53.6
Non convertible debentures-16,090-36,890Improved 56.4
Certificates of deposit-41,840
Government securities-42,540-75,100Improved 43.4
Others-240-250Improved 4.0
Proceeds on sale of Investments
Tax free bonds and government bonds200
Non-convertible debentures22,0101,250Up 1,660.8
Government securities14,5702,700Up 439.6
Certificates of deposit7,8701,140Up 590.4
Liquid mutual funds and fixed maturity plan securities536,69036,350Up 1,376.5
Preference and equity securities70
Others9020Up 350.0
Net cash (used in) / from investing activities-64,160-74,560Improved 13.9
Cash flows from financing activities:
Payment of lease liabilities-9,150-6,980Deterioration 31.1
Payment of dividends-126,520-91,170Deterioration 38.8
Payment of dividend to non-controlling interest of subsidiary-790-200Deterioration 295.0
Shares issued on exercise of employee stock options21010Up 2,000.0
Payment towards purchase of non-controlling interest-20-460Improved 95.7
Other receipts2,36080Up 2,850.0
Other payments-1,260
Buyback of equity shares including transaction cost and tax on Buyback-111,250
Net cash used in financing activities-246,420-97,860Deterioration 151.8
Net increase / (decrease) in cash and cash equivalents-71,7305,980Deterioration
Cash and cash equivalents at the beginning of the period247,14018,640Up 1,225.9
Effect of exchange rate changes on cash and cash equivalents80
Cash and cash equivalents at the end of the period174,72024,710Up 607.1

13.2 Financials as reported (FY 2022 [year-ended 31 March 2022 ])

RESULTS OF OPERATIONS AND FINANCIAL CONDITION

(In INR Million, except per share data and shares outstanding)

INCOME STATEMENT AS REPORTED (FY 2022 [year-ended 31 March 2022 ])

DescriptionINR MillionINR Million
Mar 3120222021Change %
Revenue from operations1,216,4101,004,720Up 21.1
Other income net22,95022,010Up 4.3
Total Income1,239,3601,026,730Up 20.7
Expenses
Employee benefit expenses639,860555,410Up 15.2
Cost of technical sub-contractors126,06070,840Up 78.0
Travel expenses8,2705,540Up 49.3
Cost of software packages and others68,11042,230Up 61.3
Communication expenses6,1106,340Down 3.6
Consultancy and professional charges18,85012,610Up 49.5
Depreciation and amortisation expenses34,76032,670Up 6.4
Finance cost2,0001,950Up 2.6
Other expenses34,24032,860Up 4.2
Total expenses938,260760,450Up 23.4
Profit before tax301,100266,280Up 13.1
Tax expense:
Current tax78,11066,720Up 17.1
Deferred tax1,5305,330Down 71.3
Profit for the period221,460194,230Up 14.0
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability/asset net-8501,340Deterioration
Equity instruments through other comprehensive income net9601,190Down 19.3
Items that will be reclassified subsequently to profit or loss
Fair value changes on derivatives designated as cash flow hedges net-80250Deterioration
Exchange differences on translation of foreign operations2,2801,300Up 75.4
Fair value changes on investments net-490-1,020Improved 52.0
Total other comprehensive income/(loss) net of tax1,8203,060Down 40.5
Total comprehensive income for the period223,280197,290Up 13.2
Profit attributable to:
Owners of the company221,100193,510Up 14.3
Non-controlling interests360720Down 50.0
221,460194,230Up 14.0
Total comprehensive income attributable to:
Owners of the company222,930196,510Up 13.4
Non-controlling interests350780Down 55.1
223,280197,290Up 13.2
Paid up share capital20,98021,240Down 1.2
Other equity732,520742,270Down 1.3
Earnings per equity share
BasicRs52.52Rs45.61Up 15.2
DilutedRs52.41Rs45.52Up 15.1

BALANCE SHEET AS REPORTED (FY 2022 [year-ended 31 March 2022 ])

DescriptionINR MillionINR Million
Mar 3120222021Change %
ASSETS
Non-current assets
Property plant and equipment130,750125,600Up 4.1
Right of use assets48,23047,940Up 0.6
Capital work-in-progress4,1609,220Down 54.9
Goodwill61,95060,790Up 1.9
Other Intangible assets17,07020,720Down 17.6
Financial assets
Investments136,510118,630Up 15.1
Loans340320Up 6.2
Other financial assets14,60011,410Up 28.0
Deferred tax assets (net)12,12010,980Up 10.4
Income tax assets (net)60,98058,110Up 4.9
Other non-current assets20,29012,810Up 58.4
Total non-current assets507,000476,530Up 6.4
Current assets
Financial assets
Investments66,73023,420Up 184.9
Trade receivables226,980192,940Up 17.6
Cash and cash equivalents174,720247,140Down 29.3
Loans2,4801,590Up 56.0
Other financial assets87,27064,100Up 36.1
Income tax assets (net)540
Other current assets113,13078,140Up 44.8
Total current assets671,850607,330Up 10.6
Total Assets1,178,8501,083,860Up 8.8
EQUITY AND LIABILITIES
Equity
Equity share capital20,98021,240Down 1.2
Other equity732,520742,270Down 1.3
Total equity attributable to equity holders of the Company753,500763,510Down 1.3
Non-controlling interests3,8604,310Down 10.4
Total equity757,360767,820Down 1.4
Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities46,02045,870Up 0.3
Other financial liabilities23,37015,140Up 54.4
Deferred tax liabilities (net)11,5608,750Up 32.1
Other non-current liabilities4,5107,630Down 40.9
Total non-current liabilities85,46077,390Up 10.4
Current liabilities
Financial liabilities
Lease liabilities8,7207,380Up 18.2
Trade payables41,34026,450Up 56.3
Other financial liabilities158,370113,900Up 39.0
Other Current Liabilities91,78062,330Up 47.2
Provisions9,7507,130Up 36.7
Income tax liabilities (net)26,07021,460Up 21.5
Total current liabilities336,030238,650Up 40.8
Total eauitv and liabilities1,178,8501,083,860Up 8.8

CASH FLOW AS REPORTED (FY 2022 [year-ended 31 March 2022 ])

DescriptionINR MillionINR Million
Mar 3120222021Change %
Cash flow from operating activities
Profit for the period221,46019,420Up 1,040.4
Adjustments to reconcile net profit to net cash provided by operating activities:
Income tax expense79,6407,200Up 1,006.1
Depreciation and amortization34,76032,610Up 6.6
Interest and dividend income-16,450-16,150Deterioration 1.9
Finance cost2,0001,910Up 4.7
Impairment loss recognized / (reversed) under expected credit loss model1,7001,910Down 11.0
Exchange differences on translation of assets and liabilities net1,190-620Recovery
Stock compensation expense4,150330Up 1,157.6
Other adjustments760-910Recovery
Changes in assets and liabilities
Trade receivables and unbilled revenue-79,370-18,350Deterioration 332.5
Loans other financial assets and other assets-19,140-5,340Deterioration 258.4
Trade payables14,890-2,450Recovery
Other financial liabilities other liabilities and provisions69,3803,380Up 1,952.7
Cash generated from operations314,9701,233,750Down 74.5
Income taxes paid-76,120-63,890Deterioration 19.1
Net cash generated by operating activities238,85023,220Up 928.6
Cash flows from investing activities
Expenditure on property plant and equipment and intangibles-21,610-21,070Deterioration 2.6
Deposits placed with corporation-9,060-7,250Deterioration 25.0
Redemption of deposits placed with Corporation7,5305,110Up 47.4
Interest and dividend received18,98014,110Up 34.5
Payment towards acquisition of business net of cash acquired-12,210
Payment of contingent consideration pertaining to acquisition of business-530-1,580Improved 66.5
Escrow and other deposits pertaining to Buyback-4,200
Redemption of escrow pertaining to Buyback4,200
Other receipts67040Up 1,575.0
Other payments-220-450Improved 51.1
Payments to acquire Investments
Tax free bonds and government bonds-3,180
Liquid mutual funds and fixed maturity plan securities-540,640-351,960Deterioration 53.6
Non convertible debentures-16,090-36,890Improved 56.4
Certificates of deposit-41,840
Government securities-42,540-75,100Improved 43.4
Others-240-250Improved 4.0
Proceeds on sale of Investments
Tax free bonds and government bonds200
Non-convertible debentures22,0101,250Up 1,660.8
Government securities14,5702,700Up 439.6
Certificates of deposit7,8701,140Up 590.4
Liquid mutual funds and fixed maturity plan securities536,69036,350Up 1,376.5
Preference and equity securities70
Others9020Up 350.0
Net cash (used in) / from investing activities-64,160-74,560Improved 13.9
Cash flows from financing activities:
Payment of lease liabilities-9,150-6,980Deterioration 31.1
Payment of dividends-126,520-91,170Deterioration 38.8
Payment of dividend to non-controlling interest of subsidiary-790-200Deterioration 295.0
Shares issued on exercise of employee stock options21010Up 2,000.0
Payment towards purchase of non-controlling interest-20-460Improved 95.7
Other receipts2,36080Up 2,850.0
Other payments-1,260
Buyback of equity shares including transaction cost and tax on Buyback-111,250
Net cash used in financing activities-246,420-97,860Deterioration 151.8
Net increase / (decrease) in cash and cash equivalents-71,7305,980Deterioration
Cash and cash equivalents at the beginning of the period247,14018,640Up 1,225.9
Effect of exchange rate changes on cash and cash equivalents80
Cash and cash equivalents at the end of the period174,72024,710Up 607.1

13.3 Download INFOSYS Financials Past 7 Years

Description (March 31)2022202120202019201820172016
Income Statement
Revenue per share189.91163.52313286.84
Other Revenue (B)22.9222833.1
EBITDA (B)335.9298.9249221.3216.5202
Depreciation (B)34.832.728.918.61714.6
Tax (B)79.67253.756.342.45652.5
Net profit (B)221.1193.5165.9154160.3143.5134.9
EPS52.5245.6138.9735.4435.5331.3929.51
Balance Sheet
Equity Share Capital (B)753.5763.5654.5649.5649.2689.8617.4
Retained Earnings (B)588.5
Total Debt (B)213.1167.211169.5
Total Assets (B)1,178.81,083.9927.7847.4798.9833.5753.5
Current Asset (B)671.9607.3545.8528.8500.2537517.5
Fixed Asset (B)130.8125.6124.3133.6101.297.586.4
Working Capital (B)335.8368.7337.2342.4359.1396.9385.1
Cash Flow
Operating Cash Flow (B)238.823.2170158.4132.2115.3100.3
Investing Cash Flow (B)(64.2)(74.6)(2.4)(15.8)44.5(145.4)(9)
Financing Cash Flow (B)(246.4)(97.9)(175.9)(145.1)(205.1)(69.4)(68.1)
Net Cash Flow (B)(71.7)(149.2)(8.3)(2.5)(28.4)(99.5)23.1

SECTION 14 TOP SHAREHOLDERS

Top 13 shareholders

Name of the Share Holder% of Capital
DEUTSCHE BANK TRUST COMPANY AMERICAS15.8
Life Insurance Corporation of India5.8
SBI MUTUAL FUND3.3
SUDHA GOPALAKRISHNAN2.3
ICICI PRUDENTIAL MUTUAL FUND1.6
ROHAN MURTY1.4
National Pension System Trust1.3
UTI MUTUAL FUND1.3
VANGUARD EMERGING MARKETS STOCK INDEX FUND, A SERIES OF VANGUARD INTERNATIONAL EQUITY INDEX FUND1.2
GOVERNMENT PENSION FUND GLOBAL1.1
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND1.1
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED1.1
HDFC MUTUAL FUND1.1

% held by Top 13 shareholders 38.4%

SECTION 15 PEER COMPARISON & RANKING OF INFY

15.1 PEER COMPARISON: INFY IN INDICES

Infosys is a constituent of the following indices.

Its market capitalisation is $84 billion and accounts for 25.7% of the combined MCap of the BSE Information Technology Index.

Index NameMCap of Index ($ b)INFY MCap as % of Index
BSE Information Technology Index327 25.7
BSE Teck Index422 19.9
BSE SENSEX Index1,496 5.6
Nifty Index1,748 4.8
BSE 100 Index2,152 3.9
BSE 200 Index2,569 3.3
BSE 500 Index2,820 3.0

15.2 GLOBAL PEER COMPARISON: INFY - SIZE (all figures in $)

In its Global Peer Group of 9 companies INFY is ranked INFY is ranked fourth (4) by Net Profit, fifth (5) by MCap, Revenue and seventh (7) by Total Assets.

Name (Code)MCapRevenueNet ProfitTotal Assets
Rank of INFY5547
Infosys (INFY)84B15.7B2.8B14.9B
SAP (SAP)113B28.6B5.4B73.1B
Netflix (NFLX)98.5B29.7B5.1B44.6B
JD.com (09618)93B85.2B1.8B38.4B
Servicenow (NOW)91.1B5.9B230M10.8B
Booking Holdings (BKNG)79.5B11B1.2B23.6B
NetEase (09999)62.2B8.8B3.1B16.6B
Uber (UBER)57.3B17.5B(570M)38.8B
Dassault Systemes (DSY)57.1B4.6B504.2M13.3B

GLOBAL PEER COMPARISON: INFY - RELATIVE VALUE INDICATORS

In value terms, comparing relative value of its shares, INFY is ranked

+ 3 out of 9 by Dividend Yield (%) [2.0]

+ 5 out of 9 by Price/Earnings per share [39.7]

+ 5 out of 9 by Price/Sales per share [7.1]

+ 4 out of 9 by Price/Book value per share [10.3]

Name (Code)Currency CodeLast PriceDiv Yld (%)P/EP/SP/Book
Rank of INFY by value3554
Infosys (INFY)INR1,567.52.039.77.110.3
SAP (SAP)EUR90.32.720.14.017.0
Netflix (NFLX)USD221.419.23.36.2
JD.com (09618)HKD233.22.148.39.0
Servicenow (NOW)USD454.414.644.7
Booking Holdings (BKNG)USD1,956.36.3
NetEase (09999)HKD142.41.318.86.2
Uber (UBER)USD29.23.319.6
Dassault Systemes (DSY)EUR42.10.422.3

USD 1=

78.49366 Indian Rupees (INR); 0.981 Euro (EUR); 7.85 Hong Kong Dollar (HKD)ChartPath:Global Peer Group - Price Performance:/home/jboss/jboss-3.2.7/server/default/deploy/BuySellSignals.war/report/India/Stock/PDF/Daily/chart/new/378_GlobalPeerGroup.svg

15.3 BUYSELLSIGNALS FUNDAMENTALS VALUATION RANKING:

Infosys vs Indian Market

Out of 99 stocks in the Indian Market, Infosys is ranked fourteenth(14) by Net Profit $, Forty-ninth(49) by P/Earnings, Fifty-fifth(55) by P/Sales and Fifty-sixth(56) by Price/Net Tangible Assets.

Indian AvgINFYINFY Rank
Net Profit $(1.1 B)2.8 B14
P/Earnings-40.3x49
P/Sales-7.2x55
Price/Net Tangible Assets0.1x10.5x56
ROA (%)-18.8175
ROE (%)-29.2208
Yield (%)1.41.98266
Premium to 52-Wk Low (%)17.514.7405
EBITDA Margin%3.127.1618
P/Earnings/ Growth-2.7x798
EPS Growth YOY (%)-15.21285
Total Debt/Equity (the lower the better)0.1x0.3x1664
Discount to 52-Wk High (%)6.718.92648

Negative values are shown in brackets.

15.4 Stock in Index and Stock in Sector

DescriptionINFYBSE SENSEX Index% of BSE SENSEX IndexIT consulting & software sector% of IT consulting & software sector
Net Profit $2.8 B503.4 B0.613.1 B21.5
Revenue $15.8 B5,579.2 B0.380.9 B19.5
Total Assets $15 B67,262.8 B0.0275.8 B19.8
MCap $84 B1,496.1 B5.6360 B23.3

15.5 Relative Valuation Indicators: Stock vs Index and Stock vs Sector

DescriptionINFYBSE SENSEX Index Avg.IT consulting & software sector Avg.
Price/Earnings40.38.329.0
P/Earnings/Growth2.66-0.182.66
Yield (%)1.981.182.12
Price/Net Tangible Assets10.470.3510.47
Total Debt/Equity (the lower the better)0.28x1.56x0.19x

15.6 MARKET SHARE

Infosys vs It Consulting & Software sector [It Consulting & Software sector Total in Brackets]

Revenue of Rs1,239.4 billion ($15.8 billion)[20.1% of aggregate sector revenue of Rs6,353.3 billion; up from 19.8% in the previous year.]

Net Profit of Rs221.1 billion ($2.8 billion) [21.5% of aggregate sector net profit of Rs1,029.5 billion; down from 22.1% in the previous year.]

15.7 GLOBAL RANK [out of 48,156 stocks] AND RANK OF INFOSYS IN THE ASIA REGION [out of 24,727 stocks]

DescriptionValueGlobal RankIn Asia Region
MCap ($)84B16528
Total Assets ($)14.9B2,316886
Revenue ($)15.7B982331
Net Profit ($)2.8B514155
Return on Equity %29.22,406905
Net Profit Margin %17.97,4713,736
Price to Book10.333,26420,412
Price/Earnings39.720,38112,993
Yield %2.014,3617,536
PV1000 (1Year) $*93317,4329,832
$* Change (1Year) %-9.217,1529,735

* 1 year ago $1 = INR 74.26

Aug 03, 2022: $ 1 equals INR 78.49

15.8 RANK OF INFOSYS IN THE BSE SENSEX INDEX [out of 31 stocks], IN THE INDIAN MARKET [out of 3896 stocks] AND IN THE IT CONSULTING & SOFTWARE SECTOR [out of 71 stocks]

DescriptionValueIn BSE SENSEX IndexIn Indian MarketIn IT consulting & software sector
Total Assets (Rs)1,178.8B17622
Return on Equity %29.241936
Net Profit Margin %17.9857910
Price to Book10.5242,98755
Price/Earnings40.3221,77130
Yield %2.0827311
PV1000 (1Year) INR984251,28021

15.9 LONG-TERM FUNDAMENTAL RANKING: 4 OUT OF 5 [5 is best]

Infosys is ranked number 2 out of 102 listed it consulting & software companies in the India with a market capitalization of Rs6,595.2 billion ($84 billion).

In the it consulting & software companies it has the 2nd highest total assets and 2nd highest revenues.

It has a strong relative ROE of 29.2% and ROA of 18.8%. The company paid a dividend of Rs16.0 in the last twelve months. The dividend yield is high at 2%. Finally, its earnings growth in the past 12 months has been a comparatively high 15.2%.

Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest ranking is 5 and the lowest ranking is 1.

SECTION 16 PATENTS

16.1 Number of Patents Issued to Infosys by the US Patent Office and the European Patent Office

A total of 195 patents were issued to Infosys in the last eight years. In the past year 12 patents were issued, 0.5 times average of 24 patents per year.

12 months ended Aug 03No. of Patents Issued
202212
20216
202014
201921
201828
201733
201658
201523
Total195

16.2 Rank by patents issued in the past 12 months: Infosys vs INDIA stocks

Infosys's ranked 1 by US Patents issued in the past year out of 5,027 India listed companies. A total of 387 US patents were issued to India listed companies in the past year, an average of 0.1 patents per company. Infosys received 11 US Patents in the past 12 months, 143 times average.

SECTION 17 CURRENCY SYNOPSIS: INDIAN RUPEES (INR)

17.1 % Change of INR vs Currency Basket Period-Based

In the past year the Indian Rupee fell 5.6% against the US Dollars; in the past three years the Indian Rupee fell 12.4% against the US Dollars.

LastCountry1-day %1-week %1-Year %3-Yrs %
INR1=0.013USDUnited States Of America0.41.3-5.6-12.4
INR1=0.086CNYChina0.51.3-1.2-13.7
INR1=1.662JPYJapan-0.5-2.912.85.8
INR1=0.012EUREuropean Union0.70.79.8-5.3
INR1=16.625KRWSouth Korea0.91.37.5-3.6
INR1=0.018SGDSingapore0.60.7-3.6-11.9
INR1=0.02NZDNew Zealand1.10.54.9-8.5
INR1=0.01GBPUnited Kingdom0.6-0.37.6-12.9
INR1=0.018AUDAustralia2.01.70.4-13.2
INR1=0.1HKDHong Kong0.41.4-4.7-12.1
INR1=0.012CHFSwitzerland0.7-0.2-0.7-16.1
INR1=0.016CADCanada1.11.4-2.5-14.6
INR1=0.129SEKSweden0.40.111.5-8.0
INR1=0.123NOKNorway0.9-0.24.2-3.9
INR1=0.26MXNMexico1.31.3-2.5-6.4

SECTION 18 STOCK IDENTIFIERS

ISIN: INE009A01021

PermID: 4295872682

RIC: INFY.NS

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabilities (times)

Debt/Equity: Net Debt/Net Assets %

Dividend Yield: Dividend Per Share/Share Price (%)

EBIT Margin : Earnings Before Interest and Tax/Revenue (%)

Earnings Yield: Earnings Per Share/Share Price (%)

Income during the n years (3/2/1): Dividends received during the Period

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PCP: Previous Corresponding Period

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Price/Sales: Share Price/Sales Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Total Liabilities/Total Assets: Total Liabilities/Total Assets

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.

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