Infosys Ltd

About

Infosys (the Company or Infosys) is a leading provider of consulting, technology, outsourcing and next-generation digital services, enabling clients to execute strategies for their digital transformation. Infosys strategic objective is to build a sustainable organization that remains relevant to the agenda of clients, while creating growth opportunities for employees and generating profitable returns for investors. Infosys strategy is to be a navigator for our clients as they ideate, plan and execute on their journey to a digital future.

  • Market Cap 720,049 Cr.
  • Current Price 1,713
  • High / Low 1,848 / 1,105
  • Stock P/E 36.5
  • Book Value 153
  • Dividend Yield 1.58 %
  • ROCE 34.8 %
  • ROE 26.9 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 58.46%

Cons

  • Stock is trading at 11.16 times its book value
  • The company has delivered a poor sales growth of 9.74% over past five years.
  • Promoter holding is low: 13.12%
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
18,819 18,935 19,131 19,666 20,064 20,187 20,325 21,046 22,043 22,497 23,714 25,462
14,227 14,192 14,486 14,577 14,885 15,065 14,848 14,826 15,431 16,350 17,183 18,578
Operating Profit 4,592 4,743 4,645 5,089 5,179 5,122 5,477 6,220 6,612 6,147 6,531 6,884
OPM % 24% 25% 24% 26% 26% 25% 27% 30% 30% 27% 28% 27%
Other Income 756 639 713 604 798 585 478 582 903 504 570 1,052
Interest 0 0 27 28 28 31 31 31 32 33 32 32
Depreciation 406 429 510 542 544 548 546 608 589 578 576 601
Profit before tax 4,942 4,953 4,821 5,123 5,405 5,128 5,378 6,163 6,894 6,040 6,493 7,303
Tax % 29% 23% 26% 25% 25% 21% 25% 27% 26% 26% 27% 25%
Net Profit 3,501 3,820 3,569 3,829 4,076 4,069 4,008 4,497 5,083 4,459 4,723 5,463
EPS in Rs 8.01 8.74 8.17 8.99 9.57 9.55 9.41 10.56 11.93 10.47 11.09 12.99

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
21,140 25,385 31,254 36,765 44,341 47,300 53,983 59,289 61,941 73,107 79,047 85,912 93,716
13,826 16,970 21,769 25,747 31,808 33,330 38,274 42,082 44,644 54,433 59,012 61,455 67,542
Operating Profit 7,314 8,415 9,485 11,018 12,533 13,970 15,709 17,207 17,297 18,674 20,035 24,457 26,174
OPM % 35% 33% 30% 30% 28% 30% 29% 29% 28% 26% 25% 28% 28%
Other Income 1,015 1,147 2,985 2,298 2,576 3,749 3,006 3,062 4,019 2,852 2,700 2,467 3,029
Interest 2 1 2 3 6 8 0 0 0 0 114 126 129
Depreciation 807 740 794 956 1,101 913 1,115 1,331 1,408 1,599 2,144 2,321 2,344
Profit before tax 7,520 8,821 11,674 12,357 14,002 16,798 17,600 18,938 19,908 19,927 20,477 24,477 26,730
Tax % 23% 27% 27% 26% 27% 28% 28% 27% 19% 26% 24% 26%
Net Profit 5,803 6,443 8,470 9,116 10,194 12,164 12,693 13,818 16,155 14,702 15,543 18,048 19,728
EPS in Rs 12.64 14.03 18.44 19.84 22.30 26.48 27.63 30.08 36.98 33.65 36.49 42.36 46.48
Dividend Payout % 25% 53% 32% 26% 35% 56% 44% 43% 59% 64% 48% 64%
Compounded Sales Growth
10 Years: 13%
5 Years: 10%
3 Years: 12%
TTM: 15%
Compounded Profit Growth
10 Years: 11%
5 Years: 7%
3 Years: 4%
TTM: 18%
Stock Price CAGR
10 Years: 18%
5 Years: 29%
3 Years: 37%
1 Year: 56%
Return on Equity
10 Years: 25%
5 Years: 24%
3 Years: 25%
Last Year: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
287 287 287 287 286 574 1,148 1,148 1,092 2,178 2,129 2,130 2,102
Reserves 21,749 24,214 29,470 35,772 41,806 47,494 59,934 66,869 62,410 60,533 60,105 69,401 62,431
Borrowings 0 0 0 0 0 0 0 0 0 0 3,165 3,854 3,718
3,798 4,353 6,058 6,913 10,620 13,745 11,650 11,868 11,870 15,678 15,086 18,043 21,136
Total Liabilities 25,834 28,854 35,815 42,972 52,712 61,813 72,732 79,885 75,372 78,389 80,485 93,428 89,387
3,779 4,056 4,061 4,453 5,732 7,347 8,248 8,605 9,157 10,497 13,974 14,599 14,760
CWIP 409 249 588 1,135 954 769 934 1,247 1,442 1,212 945 906 347
Investments 4,626 1,325 1,409 4,344 6,717 6,857 11,078 24,977 17,899 18,139 17,922 24,155 23,296
17,020 23,224 29,757 33,040 39,309 46,840 52,472 45,056 46,874 48,541 47,644 53,768 50,984
Total Assets 25,834 28,854 35,815 42,972 52,712 61,813 72,732 79,885 75,372 78,389 80,485 93,428 89,387

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
5,787 4,275 5,921 6,942 9,148 7,955 9,578 10,478 12,475 13,989 15,572 19,902
-3,298 3,235 769 -2,779 -2,272 628 -1,216 -13,533 5,678 -637 -170 -6,286
-1,481 -3,642 -2,298 -3,319 -3,177 -4,961 -6,908 -6,968 -20,536 -14,571 -17,391 -9,566
Net Cash Flow 1,008 3,868 4,392 844 3,699 3,622 1,454 -10,023 -2,383 -1,219 -1,989 4,050

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 56 61 63 63 60 67 66 67 72 67 71 70
Inventory Days
Days Payable
Cash Conversion Cycle 56 61 63 63 60 67 66 67 72 67 71 70
Working Capital Days 58 32 30 39 18 4 36 44 57 46 53 49
ROCE % 38% 38% 41% 37% 36% 36% 32% 29% 30% 31% 32% 35%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
12.82 12.84 13.04 13.15 13.15 13.15 13.15 12.95 12.95 12.95 12.95 13.12
34.46 34.04 33.32 33.51 31.76 31.01 30.47 31.31 32.26 32.67 33.39 33.46
22.57 22.87 23.02 22.79 23.99 24.68 25.43 24.97 23.75 23.10 21.98 15.66
29.67 29.78 30.15 30.10 30.66 30.73 30.53 30.37 30.66 30.92 31.32 37.41
0.47 0.47 0.47 0.44 0.44 0.43 0.42 0.40 0.38 0.36 0.36 0.35

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