Infosys
technolo
gies
Finance report
By-Karan bhasin & Komal
gilhotra
ABOUT THE COMPANY
Infosys Technologies Ltd. (NASDAQ: INFY) was started in 1981 by seven people with US$
250. Today, it is a global leader in the "next generation" of IT and consulting with revenues
of US$ 5.7 billion (LTM Dec-10).
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 their domain and business expertise and strategic alliances with leading
technology providers.
Its 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.
Infosys pioneered the Global Delivery Model (GDM), which emerged as a disruptive force in
the industry leading to the rise of offshore outsourcing. The GDM is based on the principle of
taking work to the location where the best talent is available, where it makes the best
economic sense, with the least amount of acceptable risk.
Infosys has a global footprint with 65 offices and 59 development centers in India, China,
Australia, the Czech Republic, Poland, the UK, Canada and Japan. Infosys and its
subsidiaries have 127,779 employees as on December 31, 2010.
Infosys takes pride in building strategic long-term client relationships. Over 97% of its
revenues come from existing customers (FY 10).
Vision
"To be a globally respected corporation that provides best-of-breed business solutions,
leveraging technology, delivered by best-in-class people."
Mission
"To achieve our objectives in an environment of fairness, honesty, and courtesy towards our
clients, employees, vendors and society at large."
Values
We believe that the softest pillow is a clear conscience. The values that drive us underscore
our commitment to:
Customer Delight: To surpass customer expectations consistently
Leadership by Example: To set standards in our business and transactions and be an exemplar
for the industry and ourselves
Integrity and Transparency: To be ethical, sincere and open in all our transactions
Fairness: To be objective and transaction-oriented, and thereby earn trust and respect
Pursuit of Excellence: To strive relentlessly, constantly improve ourselves, our teams, our
services and products to become the best
MANAGEMENT OF INFOSYS
Srinath Batni(Director and Head, Delivery Excellence)
N. R. Narayana Murthy(Chairman of the Board and Chief Mentor)
S. Gopalakrishnan(Chief Executive Officer and Managing Director)
K. Dinesh (Director and Head, Communication Design Group, Information Systems and
Quality and Productivity)
T. V. Mohandas Pai (Director and Head, Finacle, Admin, Human Resources, Infosys
Leadership Institute and Education and Research)
INFOSYS TECHNOLOGIES LIMITED
in Rs. crore
Balance Sheet as at
Schedule
September 30, 2009
March 31, 2009
SOURCES OF FUNDS
SHAREHOLDERS' FUNDS
Share capital
287
286
Reserves and surplus
19,794
17,523
20,081
17,809
APPLICATION OF FUNDS
FIXED ASSETS
3
Original cost
6,462
5,986
Less: Accumulated depreciation and amortization
2,579
2,187
Net book value
3,883
3,799
Add: Capital work-in-progress
412
615
4,295
4,414
INVESTMENTS
4
4,152
1,005
DEFERRED TAX ASSETS, NET
152
102
CURRENT ASSETS, LOANS AND ADVANCES
Sundry debtors
3,133
3,390
Cash and bank balances
8,243
9,039
Loans and advances
3,572
3,164
14,948
15,593
LESS: CURRENT LIABILITIES AND PROVISIONS
Current liabilities
1,809
1,507
Provisions
10
1,657
1,798
NET CURRENT ASSETS
11,482
12,288
20,081
17,809
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON
23
ACCOUNTS
INFOSYS TECHNOLOGIES LIMITED
in Rs. crore, except per share data
Profit and Loss account for the
Schedule
Quarter ended September 30,
Half-year ended September 30,
2009
2008
2009
2008
Income from software services and products
5,201
5,066
10,305
9,582
Software development expenses
11
2,851
2,750
5,621
5,361
GROSS PROFIT
2,350
2,316
4,684
4,221
Selling and marketing expenses
12
234
256
449
472
General and administration expenses
13
317
342
663
627
551
598
1,112
1,099
OPERATING PROFIT BEFORE DEPRECIATION
1,799
1,718
3,572
3,122
Depreciation
207
161
408
316
OPERATING PROFIT BEFORE TAX
1,592
1,557
3,164
2,806
Other income, net
14
232
77
497
208
NET PROFIT BEFORE TAX
1,824
1,634
3,661
3,014
Provision for taxation (refer to note 23.2.11 )
15
386
244
759
362
NET PROFIT AFTER TAX
1,438
1,390
2,902
2,652
Balance Brought Forward
11,769
7,903
10,305
6,642
Less: Residual dividend paid
1
Dividend tax on the above
11,769
7,903
10,305
6,641
AMOUNT AVAILABLE FOR APPROPRIATION
13,207
9,293
13,207
9,293
Interim dividend
573
572
573
572
Dividend tax
97
97
97
97
Amount transferred to general reserve
Balance in profit and loss account
12,537
8,624
12,537
8,624
13,207
9,293
13,207
9,293
EARNINGS PER SHARE
Equity shares of par value Rs. 5/- each
Basic
25.08
24.28
50.64
46.34
Diluted
25.05
24.23
50.57
46.24
Number of shares used in computing earnings per share *
Basic
57,31,76,778
57,24,25,798
57,30,62,804
57,23,12,623
Diluted
57,38,80,145
57,35,54,906
57,37,82,078
57,35,56,617
SIGNIFICANT ACCOUNTING POLICIES AND NOTES
23
ON ACCOUNTS
