We have undergone the corporate governance audit by ICRA and Credit Rating Information Services of India Limited (CRISIL). 43 crore to acquire 161 acres of land in Hyderabad, Jaipur, Mysore and Mangalore. /Flags 32 /FontDescriptor 58 0 R We believe that the Infosys brand is one of the most important intangible assets that we own. 5,803 crore (27.5% of revenue) as against Rs. Its revisions should enhance investor protection but a few seem over-restrictive and could possibly impact some listing plans. /BM /Normal Oops! The Board of Directors appointed Prof. Marti G. Subrahmanyam as the Lead Independent Director. From 1 April 2022, half the anchor investors in an IPO will be locked in for a period of 90 days, while the remaining 50% will be locked in for 30 days. >> /MaxWidth 2558 All of them, being eligible, seek re-appointment. A preferential allotment to other shareholders shall result in such shares being locked in for 6 months. These include over 2,000 branches of regional rural banks in India which are leading the financial inclusion initiative in the country. /FirstChar 32 Our quality department manages large change management initiatives to drive Quality and Productivity improvements across the organization. 20,264 crore in the previous year, at a growth rate of 4.3%. Our efforts are widely recognized by investors in India and overseas. 13,806 crore is proposed to be retained in the Profit and Loss account. /AvgWidth 401 It'll just take a moment.
/Height 196 /ItalicAngle 0 The same will also be hosted on our website, www.infosys.com. %PDF-1.5 /FontName /Times#20New#20Roman endobj CBSE results 2022 updates: Class 12 Term 2 result decla Tata Steel's record date for 1:10 stock split next week CBSE Result 2022 LIVE: Class 10 results declared, 94.4% Multibagger stock to consider bonus issue; shares hit r Why regulating gambling is better than banning it, Incentivize the worlds farmers to improve soil health. For book-built issuances, Sebi has ensured that the minimum gap in the offer price band be such that the cap price is at least 105% of the floor price. Ranked as the best company to work for in India by Business Today's ninth survey of Best Companies to Work For. During the year, we issued 9,95,149 shares on the exercise of stock options under the 1998 and 1999 Employee Stock Option Plans. Independent reports by renowned research firms have positioned Finacle among the leaders in the global evaluation of retail core banking solution vendors. /ca 1 The Board placed on record its deep sense of appreciation for the services rendered by Nandan M. Nilekani as a co-founder, Chief Operating Officer, Chief Executive Officer and Managing Director, and as the Co-Chairman of the Board of Directors. >> We invested Rs. endobj /Width 1301 We continue to be a pioneer in benchmarking our corporate governance policies with the best in the world. The intention may well be to have investors stay invested longer in the company, but this intervention may not meet its objective if companies are unable to ensure that anchor investor stay beyond a quarter post-IPO. 60 0 obj
TheGovernment of India has granted us an exemption from complying with Section 212. 10,289 crore at the previous year-end. %PDF-1.5 >> We thank you for your support in confirming his appointment as director liable to retire by rotation in our Annual General Meeting held on June 20, 2009. This means that our valued and sustainable client partnerships have contributed to revenues during the previous fiscal year also. 6,906 crore (34.1% of revenue) in the previous year. Copyright HT Digital Streams Limited All rights reserved. /Type /Font We are delighted to present the report on our business and operations for the year ended March 31, 2010. /StemV 42 These issues can now be undertaken for considerations other than cash. During the previous year, we capitalized Rs. /Name /F1 Sebi has prescribed a revised allocation method to non-institutional investors (i.e. The total dividend amount paid out is Rs. Additionally, promoters shall be permitted to pledge such locked-in shares subject to certain conditions. During the year, we recommended the induction of K. V. Kamath to the Board. 5/- each. 62 0 obj The year 2021 witnessed a large number of Indian companies going public, a sizeable number of which were new-age technology companies. The services for which we were rated highly include Service Oriented Architecture, Oracle Service providers, Comprehensive Finance and Accounting Business Process Outsourcing, and also for the Finacle product suite. In its board meeting held on 28 December 2021, Sebi ensured the year ended with a bang as far as regulatory changes for IPOs and preferential issues went. >> /FontBBox [-628 -210 2000 728] 4 0 obj During the year, SETLabs built and enhanced several solutions, frameworks, tools and methodologies in the areas of software engineering, high performance and grid computing, cloud computing, convergence technologies, knowledge-driven information systems and Web 2.0. 580 crore (10% of the net profit for the year) to the general reserve and another Rs. /Subtype /TrueType
4,515crore. >> << Prof. Subrahmanyam succeeds DeepakM.Satwalekar in this role. >> Considering the discretionary allocation that anchor investors get, the process and manner in which different lock-ins will be made applicable to them is yet to be seen. /FontDescriptor 52 0 R /BM /Normal /BaseFont /Times#20New#20Roman,Bold /Widths 59 0 R /AvgWidth 479 55 0 obj We leveraged social media platforms and engaged with our stakeholders and investors on YouTube, SlideShare, Twitter and Facebook. /Flags 32 Accordingly, the Annual Report does not contain the financial statements of these subsidiaries. 48 crore to capital reserve. In May 2009, Infosys BPO was certified for eSCM SP ver 2.0 level5, the eSourcing Capability Model for Service Providers developed by a consortium led by Carnegie Mellon University's Information Technology Services Qualification Center. 3 0 obj /Subtype /TrueType /Name /F2 /ColorSpace /DeviceRGB /Type /XObject /MaxWidth 2614 227 crore. Yash J. Ashar & Janhavi Seksaria are, respectively, partner and head, capital markets; and a partner at Cyril Amarchand Mangaldas. Liquidity also enables us to make a rapid shift in direction, should the market so demand. We propose to transfer Rs. Theboard placed on record its deep sense of appreciation for the services rendered by Rama Bijapurkar as an Independent Member of the Board. 58 0 obj Our policy is to pay dividend up to 30% of the net profit after tax of the Company. /Ascent 891 787 crore to our gross block comprising Rs. 57 0 obj endobj /FontDescriptor 55 0 R This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp. This could mean that a person with 10 shares will potentially only be able to sell one share in a public offer. >> We continue to reap the benefits of economies of scale. Theonsite revenues decreased from 49.3% in the previous year to 48.7% in the current year. Whilst the purpose of this proposal is to inspire confidence in investors by requiring significant investors to retain their skin in the game" after listing at par with a company with identified promoters, such restrictions on the ability of investors to participate in an offer-for-sale could result in pre-IPO investors looking for alternate forms of exit before listingeven more so in cases where investors have limited fund lifeand could curtail the issue size. Our revenues from the Rest of the World have increased from Rs. 2,068 crore, with a growth rate of 13.6% which is higher than that of the other regions. 5,819 crore (28.7% of revenue) in the previous year.
The net profit after tax was Rs. endobj During fiscal 2010, internal cash flows have more than adequately covered working capital requirements, capital expenditure, investment in subsidiaries and dividend payments, leaving a surplus of Rs. This addresses diverse business critical parameters and provides breakthrough improvements. Finacle from Infosys partners with banks across the globe to power their innovation agenda, enabling them to differentiate their products and services, enhance customer experience and achieve greater operational efficiency. << These funds have been invested in deposits with banks, highly rated financial institutions, certificate of deposits and liquid mutual funds. Thenumber of marketing offices as at March 31, 2010 was 65 as compared to 55 in the previous year. Recently, Finacle has launched a slew of innovative offerings including Finacle Advizor, Finacle Treasury-in-a-box, Finacle Core Banking for regional rural banks, and Finacle Financial Inclusion solutions. We have documented our internal policies on corporate governance. SETLabs collaborated with leading national and international universities such as the University of Southern California, Indian Institute of Technology, Bombay, and Monash Research Academy. During fiscal 2009, we adopted the International Financial Reporting Standards (IFRS) for our Securities and Exchange Commission (SEC), U.S. filings. /BaseFont /Arial,Bold
/Leading 42 Our annual client events in the U.S. and Europe were well attended, and highly appreciated. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 9 0 R 10 0 R 11 0 R 12 0 R 13 0 R] /MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> The quality department in collaboration with multiple stakeholders across the organization developed a framework called Business Value Articulation which ensures alignment of our approaches to deliver value to our customers. Apart from IPOs, preferential issue rules have seen a set of revisions too. The register of members and share transfer books will remain closed from May 29, 2010 to June 12, 2010 (both days inclusive). endobj
/LastChar 32 We have six step-down subsidiaries : Infosys BPO s.r.o., Infosys BPO (Poland) Sp.Z.o.o, Infosys BPO (Thailand) Limited, McCamish Systems LLC, Mainstream Software Pty Limited and Infosys Consulting India Limited. In addition, issue proceeds proposed for usage on general corporate purposes would also have to be monitored, which was not required earlier. These documents will also be available for inspection during business hours at our registered office in Bangalore, India. 52 0 obj This, again, is an interesting intervention by the regulator, particularly because issuers were not providing a real price band. /Type /Font /Ascent 905 Income from sale of investments in OnMobile Systems Inc, USA, 59 0 obj Generaland administration expenses decreased from 6.3% in the previous year to 5.9% in the current year.
We believe this may require a second look before it is notified in the official gazette. At the World Economic Forum in Davos, Switzerland, our lunch panel discussion witnessed a full audience and the evening get-together hosted by us was attended by some of the most influential and powerful global business leaders. Of these, 67.9% of the revenues came from North America, 22.2% from Europe and 9.9% from the Rest of the World. /XHeight 250 Our software export revenues aggregated to Rs.
For instance, under the new limits, shares offered for sale by shareholders (individually or with persons acting in concert) who hold less than 20% of a firms pre-IPO share capital shall not exceed 10% of its pre-IPO share capital. endobj 9,581 crore (45.3% of revenue) as against Rs. 61 0 obj We continue our journey toward excellence with a critical focus on Quality and Productivity with significant investments in quality programs. /StemV 47 << JFIF ` ` C During the year, more than 60 articles were published by SETLabs researchers in leading journals, magazines and conference proceedings. endobj Log in to our website to save your bookmarks. We derived 97.3% of our revenues from repeat business. /FontWeight 700 273 crore, Rs. Previously, there was no regulatory cap of the nature proposed last week, although there were regulatory checks and the regulator did exercise some degree of flexibility. Sebi has always been proactive vis-a-vis the growth and development of public markets, with investor protection (particularly of retail investors) at the forefront of its proposed rule changes. /AvgWidth 427 << Our gross profit amounted to Rs. /Encoding /WinAnsiEncoding Finacle solutions also empower banks with multiple sales, service and marketing channels including e-banking, mobile banking and call centers. Leading global publications wrote about us, our leadership, our talent and our performance. 1 0 obj /CapHeight 693 /StemV 40 Sebi has now permitted credit rating agencies registered with it to be appointed as monitoring agencies.
/Flags 32 /FontBBox [-558 -216 2000 677] /Widths 56 0 R /Widths 53 0 R 20,004 crore in the previous year. /Leading 33 /Encoding /WinAnsiEncoding We have eight subsidiaries : Infosys BPO Limited, Infosys Technologies (Australia) Pty Limited, Infosys Technologies (China) Co. Limited, Infosys Consulting Inc, Infosys Technologies S. de R. L. de C. V., Infosys Technologies (Sweden) AB, Infosys Tecnologia DO Brasil LTDA and Infosys Public Services Inc, USA. SETLabs leverages emerging technologies for improving engineering effectiveness and developing client-focused business solutions. BrITe We continue to focus on Business Results Impact @ Infosys Technologies that uniquely blends IT-specific Six Sigma approach with statistical predictive modeling.
We now have an aggregate of 224 patent applications pending in India and the U.S. and the USPTO has granted nine patents. The accounting policies used in the preparation of the financial statements have been consistently applied except as otherwise stated in the notes accompanying the respective tables. /FirstChar 32 We had over a million visits to our blogs on business and technology related topics on our website www.infosys.com during the year. /FontName /Arial,Bold stream The Board of Directors accepts responsibility for the integrity and objectivity of these financial statements. /Name /F3 We along with our subsidiaries added 141 new clients, including a substantial number of large global corporations. /CapHeight 677 Some of the key improvement initiatives are : SETLabs at Infosys is the center for applied technology research in software engineering and enterprise technology. endobj /LastChar 122 Your session has expired, please login again. 2 0 obj For fiscal year 2010, the compliance report is provided in the Corporate Governance section of the Annual Report. 173 crore and a contingent consideration of Rs. /Interpolate true /Descent -216 During the year, Infosys BPO acquired 100% voting interests in McCamish Systems LLC (McCamish), a business process solutions provider based at Atlanta, U.S. /LastChar 122 Ranked among the best in investor relations in the APAC region, Received the Gold Award for Investor Relations in Technology in the U.S. in the Asset Triple A Corporate Awards, Ranked as the most sought-after company in India by Business Today Survey, Received the award for excellence in inclusivity instituted by the American Society for Training & Development (ASTD), Honored with the Oracle Titan Partner Award at Oracle Open World 2009 event, Received the Excellence Award for Diversity Hiring Initiatives for Infosys BPO, Listed on Forbes Asian Fabulous 50 for the fourth consecutive year, Recognized as one of India's Best Companies to Work For in a survey conducted by Great Place to Work Institute, Listed in Fortune's 100 fastest-growing companies, Ranked as the Best Outsourcing Partner by the Waters Rankings 2009, Listed among best companies for leaders by Hay Group and Chief Executive Magazine, The sole company from India to be featured in the Top 25 list of Business Week's InfoTech 100. We were the fourth in the world to receive this certification. those investing more than 2 lakh in an IPO): one-third of the non-institutional investors portion is to be reserved for applicants investing more than 2 lakh but up to 10 lakh and the rest for such applicants investing more than 10 lakh. As per Article 122 of the Articles of Association, N. R. Narayana Murthy, Prof. Marti G. Subrahmanyam, S. Gopalakrishnan, S. D. Shibulal and T.V. Mohandas Pai retire by rotation in the forthcoming Annual General Meeting. /Type /ExtGState The particulars as prescribed under Sub-section (1)(e) of Section 217 of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988, are provided in the Annexure to the directors report section. During the year, SETLabs' IP Cell filed 31 patent applications in the United States Patent and Trademark Office (USPTO) and Indian Patent Office. << Keeping in mind the Indian stock markets growth, (i) for frequently-traded securities, we have a shorter period for determination of the floor price, i.e.
/Type /FontDescriptor /XHeight 250 /Type /FontDescriptor We had applied to the Government of India for an exemption from such an attachment as we present the audited consolidated financial statements in the Annual Report. Accordingly, for the quarter and year ended March 31, 2010, we voluntarily prepared and published unaudited consolidated IFRS Financial Statements (in Indian Rupees) in addition to preparing and publishing audited standalone and consolidated financial statements in accordance with Indian GAAP. The auditors' certificate on compliance with the mandatory recommendations of the committee is provided in the Annexure to the directors' report section. << The acquisition was completed during the year and accounted as a business combination which resulted in goodwill of Rs. 5/- each). endobj
Finacle is one of the most scalable core banking solutions in the world with an unparalleled performance benchmark of 104 million effective transactions per hour (29,010 ETPS). However, having regard to the provisions of Section 219 (1)(b)(iv) of the Companies Act, 1956, the Annual Report excluding the aforesaid information is being sent to all the members of the Company and others entitled thereto. $.' This wave has confirmed that founders with ideas can create companies, private equity funds from around the world will support such startups and help them flower, and over time they will enlist their shares for public trading, creating wealth for founders, employees and early shareholders. Sebi could additionally have prescribed more detailed disclosures and norms for continuous monitoring, with existing legal requirements kept in mind, including the need of shareholder approval for proposed acquisitions. In case you cant find any email from our side, please check the spam folder. Further, we have 338 million-dollar clients (327 in the previous year), 159 five-million-dollar clients (151 in the previous year), 97 ten-million-dollar clients (101 in the previous year), 26 fifty-million-dollar clients (20 in the previous year), and 6 hundred-million-dollar clients (4 in the previous year). On November 9, 2009, SEBI issued a press release permitting listed entities having subsidiaries to voluntarily submit the consolidated financial statements as per IFRS. << /BitsPerComponent 8 <>>> net of taxes and transaction costs.
1,434 crore, as against Rs. A person of extraordinary capabilities, Kamath has had an illustrious career in the banking industry. Nandan accepted the invitation and consequently relinquished the position of Co-Chairman and Member of the Board. The change will now allow investors to have multiple price points at which they may bid for shares in an IPO. >> Further, on April 5, 2010, SEBI issued a circular amending the Listing Agreement to allow listed companies having subsidiaries to prepare and publish consolidated financial statements as per IFRS. 10/- per share. x[s6>P7C|7$nb,%R%) A /MaxWidth 2628 We have not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding as of the Balance Sheet date. The audited IFRS Financial Statements are available on our website, www.infosys.com. 48 crore, net of taxes and transaction costs. /Type /FontDescriptor endobj The steady wave of initial public offerings (IPOs) has kept our market regulator, the Securities and Exchange Board of India (Sebi), very busy. [250 0 0 0 0 1000 833 0 333 333 500 0 0 333 250 278 500 500 500 500 500 500 500 500 500 500 333 333 0 0 0 0 0 722 667 722 722 667 611 778 778 389 500 778 667 944 722 778 611 778 722 556 667 722 722 1000 722 722 0 333 0 333 0 0 0 500 556 444 556 444 333 500 556 278 333 556 278 833 556 500 556 556 444 389 333 556 500 722 500 500 444] There are no material departures from prescribed accounting standards in the adoption of the accounting standards. Limits have been prescribed on the proportion of shares that may be offered for sale by an existing shareholder, based on the holders pre-IPO shareholding in the issuer, that apply to companies which do not meet Sebis track-record criterion for net worth/ profitability and also do not have identified promoters (as was indicated in Sebis consultation paper on the matter). In terms of provisions of Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, the names and other particulars of employees are set out in the Annexure to the Directors' Report. Ranked as the most admired company in India according to the Wall Street Journal survey, Ranked among the 50 most respected companies in the world by Reputation Institute's Global Reputation Pulse 2009, Ranked among the top 25 companies in Business Week's InfoTech100, Ranked among the top 25 companies in the world for developing leaders by Fortune / Hewitt. %
21,140 crore from Rs. ft. /Type /ExtGState 54 0 obj /FontBBox [-568 -216 2046 693] To promote the growing need of companies, including new-age tech firms, for sufficient funds to consider acquisitions and the consolidation of businesses that may be strategic, Sebi has granted companies the flexibility to utilize a maximum of 35% of their equity-issuance proceeds (with a cap of 25% towards an unidentified acquisition) from an IPO. 1,821 crore to Rs. [278] Remove some to bookmark this image. ",#(7),01444'9=82. We have complied with the recommendations of the Narayana Murthy Committee on Corporate Governance constituted by the Securities and Exchange Board of India (SEBI). Further, Sebi now requires that 100% of an issues proceeds be monitored and has increased the frequency of reviews by the audit committee. 9,119 crore (45.0% of revenue) in the previous year. dt&6A` /?,x(e,Jg27W__1%,y,U(g3[|zX4 `M"/Wq$bv,d3WkS/iXiwp{s({\I!/$jH+-9jCM,JqK$lWJ}ygqxG1XJ2y,t2e(h(muZQ1`,~JyDiI+*G*OPMg3b@Z. The auditors, B S R & Co., Chartered Accountants, retire at the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept office, if re-appointed. endobj << /Descent -216 <> The financial statements are prepared in accordance with the accounting standards issued by the Institute of Chartered Accountants of India and the requirements of the Companies Act, 1956, to the extent applicable to us; and guidelines issued by SEBI on the historical cost convention; Any member interested in obtaining such particulars may write to the Company Secretary at the Registered Office of the Company. The total client base at the end of the year stood at 575. We continue to be debt-free, and maintain sufficient cash to meet our strategic objectives. Finacle solutions address world-wide banking needs such as core banking, wealth management, Customer Relationship Management (CRM), Islamic banking and treasury requirements of retail, corporate and universal banking. Rama Bijapurkar resigned as Independent Member of the Board. 1 crore on vehicles.
Equity shares are at par value of Rs. [250 0 0 0 0 833 778 180 333 333 500 0 250 333 250 278 500 500 500 500 500 500 500 500 500 500 278 278 0 564 0 0 0 722 667 667 722 611 556 722 722 333 389 722 611 889 722 722 556 722 667 556 611 722 722 944 722 722 0 0 0 0 0 500 0 444 500 444 500 444 333 500 500 278 278 500 278 778 500 500 500 500 333 389 278 500 500 722 500 500 444] The estimates and judgments related to the financial statements have been made on a prudent and reasonable basis, in order that the financial statements reflect in a true and fair manner the form and substance of transactions, and reasonably present our state of affairs and profits for the year. Finacle is the chosen solution in over 130 banks across 65 countries, helping them serve more than 30,000 branches. During the year, we added 28.61 lakh sq. Due to this, the outstanding issued, subscribed and paid-up equity share capital increased from 57,28,30,043 shares to 57,38,25,192 shares as at March 31, 2010.