At a glance - Indian GAAP (Non-consolidated financials)
| Quarter ended | Year ended | |
| June 30, 2006 | June 30, 2005 | March 31, 2006 |
For the period |
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|
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Income | 2,867 | 1,967 | 9,028 |
Operating profit (PBIDTA) | 874 | 647 | 2,989 |
Operating profit/ total income (%) | 30.48% | 32.89% | 33.11% |
Profit after tax (PAT) and before exceptional item | 799 | 523 | 2,421 |
PAT and before exceptional item/ total income (%) | 27.87% | 26.59% | 26.82% |
Profit after tax (PAT) and exceptional item | 805 | 523 | 2,421 |
PAT and exceptional item/ total income (%) | 28.08% | 26.59% | 26.82% |
Earnings per share ( par value Rs. 5/- each, fully paid)* |
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Before exceptional items |
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Basic | 28.89 | 19.33 | 88.67 |
Diluted | 28.22 | 18.79 | 86.20 |
After exceptional items |
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Basic | 29.13 | 19.33 | 88.67 |
Diluted | 28.45 | 18.79 | 86.20 |
Capital Expenditure | 178 | 248 | 1,048 |
Dividend per share | NA | NA | 45 |
Dividend amount | NA | NA | 1,238 |
At the end of the period |
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|
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Total assets | 7,828 | 5,865 | 6,897 |
Fixed assets - net | 2,214 | 1,667 | 2,133 |
Cash and cash equivalents (including liquid mutual funds) | 3,160 | 3,108 | 4,463 |
Net current assets | 3,283 | 2,734 | 3,832 |
Debt | - | - | - |
Net worth | 7,828 | 5,865 | 6,897 |
Equity | 138 | 136 | 138 |
Market capitalization | 85,239 | 64,008 | 82,154 |
The figures above are based on unconsolidated Indian GAAP financial statements.
* Not adjusted for issue of 1:1 bonus shares, as the record date for issue of bonus is July 14, 2006.
Market capitalization is calculated by considering the share price at National Stock Exchange of India Limited on the shares outstanding at the period / year end.
Ratio analysis as per Indian GAAP (Non-consolidated)
| Quarter ended | Year ended | |
| June 30, 2006 | June 30, 2005 | March 31, 2006 |
Ratios- Financial Performance |
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Software development expenses / total revenue (%) | 56.33 | 54.10 | 54.13 |
Gross profit / total revenue (%) | 43.67 | 45.90 | 45.87 |
Selling and marketing expenses / total revenue (%) | 5.82 | 6.04 | 5.53 |
General and administration expenses / total revenue (%) | 7.36 | 6.96 | 7.23 |
SG&A expenses / total revenue (%) | 13.18 | 13.00 | 12.76 |
Aggregate employee costs / total revenue (%) | 48.94 | 46.44 | 47.29 |
Operating profit / total revenue (%) | 30.48 | 32.91 | 33.12 |
Depreciation and amortization / total revenue (%) | 3.38 | 3.80 | 4.53 |
Operating profit after depreciation and Interest / total revenue (%) | 27.10 | 29.11 | 28.58 |
Other income / total revenue (%) | 4.50 | 1.54 | 1.59 |
Profit before tax and exceptional items / total revenue (%) | 31.50 | 30.65 | 30.17 |
Tax / total revenue (%) | 3.63 | 4.02 | 3.36 |
Tax / PBT (%) | 11.52 | 13.10 | 11.12 |
PAT before exceptional items / total revenue (%) | 27.87 | 26.63 | 26.82 |
Ratios- Growth (%) |
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Overseas revenue | 47 | 32 | 32 |
Total revenue | 46 | 34 | 32 |
Operating profit | 35 | 32 | 29 |
Net Profit ( before exceptional items) | 53 | 33 | 30 |
Basic EPS ( before exceptional items) | 49 | 31 | 28 |
Data - Per-share (period end) |
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|
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Basic EPS (before exceptional items) (Rs.) | 28.89 | 19.33 | 88.67 |
Basic EPS (after exceptional items) (Rs.) | 29.13 | 19.33 | 88.67 |
Basic cash EPS ( before exceptional items) (Rs.) | 32.42 | 22.09 | 103.67 |
Basic cash EPS (after exceptional items) (Rs.) | 32.63 | 22.09 | 103.67 |
Book value (Rs.) | 283.20 | 216.43 | 250.29 |
Price / earning ( LTM) ** | 31.56 | 32.14 | 33.62 |
Price / cash earnings ( LTM) ** | 27.21 | 28.00 | 28.76 |
Price / book value ** | 10.87 | 10.90 | 11.91 |
PE / EPS growth ** | 0.64 | 1.04 | 1.20 |
Dividend per share (Rs.) | - | - | 15 |
Ratios - Return |
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PAT before exceptional items / average net worth (%) (LTM) | 39.38 | 41.45 | 39.89 |
ROCE (PBIT/Average capital employed) (%) (LTM) | 44.17 | 48.53 | 44.89 |
Return on average invested capital (%)(LTM)* | 69.85 | 86.75 | 93.96 |
Capital output ratio (LTM) | 1.45 | 1.53 | 1.49 |
Invested capital output ratio (LTM)* | 2.67 | 3.31 | 3.74 |
Ratios - Balance sheet |
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Debt-equity ratio | - | - | - |
Day's sales outstanding ( Days) (LTM) | 65 | 58 | 61 |
Current ratio | 4.26 | 3.40 | 2.73 |
Cash and cash equivalents / total assets (%)* | 40.37 | 52.99 | 64.71 |
Cash and cash equivalents / total revenue (%) (LTM)* | 31.83 | 42.25 | 49.44 |
Capital expenditure / total revenue (%) (LTM) | 9.86 | 12.18 | 11.61 |
Depreciation and amortization / average gross block (%) (LTM) | 15.78 | 14.59 | 16.30 |
Technology investment / total revenue (%) (LTM) | 3.45 | 4.20 | 3.69 |
** Before exceptional items
Ratios above are not adjusted for issue of 1:1 bonus shares, as the record date for issue of bonus shares is July 14, 2006
LTM: Last Twelve Months
At a glance - US GAAP
| Three months ended June 30, | Year ended March 31, | |
| 2005 | 2006 | 2006 |
For the period |
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Revenues | $476 | $660 | $2,152 |
Operating income | $133 | $170 | $599 |
Operating income/revenues (%) | 27.9% | 25.8% | 27.8% |
Net income | $122 | $174 | $555 |
Net income/ revenues (%) | 25.6% | 26.4% | 25.8% |
Basic earnings per equity share ($) (1) | $0.45 | $0.63 | $2.04 |
Cash dividend per equity share ($) (1), (2) | $0.15 | $0.84 | $0.29 |
Capital expenditure | $58 | $42 | $246 |
At the end of the period |
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Total assets | $1,557 | $1,938 | $2,066 |
Property, plant and equipment- net | $392 | $496 | $491 |
Cash and cash equivalents | $444 | $392 | $889 |
Investment in liquid mutual fund units | $307 | $358 | $170 |
Working capital | $940 | $1,062 | $1,300 |
Stockholders' equity | $1,369 | $1,725 | $1,837 |
Common stock (1) | $31 | $31 | $31 |
Market capitalization (3) | $14,711 | $18,583 | $18,470 |
(1) Basic earnings per equity share, cash dividend per equity share and common stock for June 2006 are not adjusted for stock split.
(2) Cash dividend for the three months ended June 30, 2006 includes a silver jubilee special dividend of $0.65 per equity share paid in June 2006.
(3) Market capitalization is calculated by considering the share price at National Stock Exchange of India Limited on the shares outstanding at the period / year end.
Shareholder information
1. Registered office | Electronics City, Hosur Road, Bangalore 560 100, India Tel.: +91-80-2852-0261, Fax: +91-80-2852-0362 Homepage: www.infosys.com |
2. Listing on stock exchanges | In India : The Bombay Stock Exchange Limited (BSE), and National Stock Exchange of India Ltd. (NSE) Outside India: NASDAQ National Market in the US. |
3. Par value of equity shares | Rs. 5/- each fully paid-up |
4. Registrar and share transfer agent | Share transfers in physical form and other communication regarding share certificate, dividends, change of address, etc. may be addressed to : Karvy Computershare Private Limited, |
5. Stock market data relating to shares listed in India
a. The company's market capitalization is included in the computation of the BSE-30 Sensitive Index (Sensex), the BSE Dollex and S&P CNX NIFTY Index.
b. Monthly high and low quotations as well as the volume of shares traded at BSE and NSE for the quarter ended June 30, 2006 are:
| BSE | NSE | Total | ||||
| High* | Low* | Volume | High* | Low* | Volume | Volume |
| Rs. | Rs. | Nos | Rs. | Rs. | Nos | Nos |
April, 2006 | 3,335.30 | 3,020.80 | 63,64,377 | 3,336.00 | 3,018.85 | 2,59,46,145 | 3,23,10,522 |
May | 3,255.20 | 2,826.55 | 43,60,424 | 3,256.25 | 2,823.70 | 1,86,78,224 | 2,30,38,648 |
June | 3,077.55 | 2,483.50 | 55,38,709 | 3,078.95 | 2,485.20 | 2,24,72,567 | 2,80,11,276 |
For the period | 3,335.30 | 2,483.50 | 1,62,63,510 | 3,336.00 | 2,485.20 | 6,70,96,936 | 8,33,60,446 |
Volume traded to average shares outstanding (%) * | |||||||
Quarter ended June 30, 2006 |
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| 6.82% |
|
| 28.15% | 34.97% |
Quarter ended June 30, 2005 |
|
| 7.90% |
|
| 28.65% | 36.55% |
* High / Low price not adjusted for bonus.
The number of shares outstanding is 23,83,20,179. American Depositary Shares (ADSs) have been excluded for the purpose of this calculation.
6. Share transfer system
Shares sent for physical transfer are effected after giving a notice of 15 days to the seller for sale confirmation. The share transfer committee of the company meets as often as required.
The total number of shares transferred in physical form during the quarter ended June 30, 2006 was Nil (quarter ended June 30, 2005 - 1,200).
7. Investor services - Complaints Received
| Quarter ended | |||
Nature of complaints | June 30, 2006 | June 30, 2005 | ||
| Received | Attended to | Received | Attended to |
Dividend Related | 151 | 151 | 31 | 31 |
The company has attended to most of the investors' grievances/correspondences within a period of 10 days from the date of receipt of the same, during the quarter ended June 30, 2006 except in cases that are constrained by disputes or legal impediments.
8. Legal Proceedings
There are some pending cases relating to disputes over title to shares, in which the company has been made a party. However, these cases are not material in nature.
9. Categories of shareholders as on June 30, 2006
Category | No. of shareholders | Voting strength (%) | No. of shares held |
PROMOTER HOLDING |
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Indian promoters | 79 | 19.40 | 5,37,20,717 |
NON PROMOTER HOLDING |
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Institutional investors |
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Mutual funds | 207 | 3.92 | 1,08,17,013 |
Banks, financial institutions and insurance companies | 60 | 3.27 | 90,29,321 |
Foreign institutional investors | 562 | 35.50 | 9,82,80,123 |
Others |
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|
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Private corporate bodies | 3,916 | 1.70 | 47,09,975 |
Indian public | 3,58,111 | 17.25 | 4,77,62,532 |
Non resident Indians/ overseas corporate bodies | 4,764 | 4.47 | 1,23,91,493 |
Trusts | 47 | 0.52 | 14,48,423 |
Foreign Nationals | 5 | 0.00 | 19,762 |
Clearing Members | 539 | 0.05 | 1,40,820 |
Equity shares underlying American Depository Shares* | 2 | 13.92 | 3,85,22,997 |
Total of non promoter holding | 3,68,213 | 80.60 | 22,31,22,459 |
Total | 3,68,292 | 100.00 | 27,68,43,176 |
10. Financial calendar (tentative and subject to change)
Financial results
Quarter ending September 30, 2006 | Oct 11, 2006 |
Interim dividend, if any | Nov 2007 |
Quarter ending December 31, 2006 | Jan 11, 2007 |
Quarter and Year ending March 31, 2007 | Apr 13, 2007 |
Annual General Meeting for year ending March 31, 2007 | Jun 2007 |
11. Investors' correspondence
For queries relating to financial statements: | For investor correspondence: | For queries relating to shares/dividends: |
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Mr. V. Balakrishnan, | Mr. Sandeep Mahindroo, | Mr. Parvatheesam K, |
Chief Financial Officer; | Manager-Investor Relations ; | Company Secretary; |
Infosys Technologies Limited | Infosys Technologies Limited, | Infosys Technologies Limited, |
Electronics City , Hosur Road, | 66-7, Kaiser Drive | Electronics City , Hosur Road, |
Bangalore-560 100, India, | Fremont , CA 94555 | Bangalore 561 100, India. |
Tel.: +91-80-2852-0440. | Tel.: 001-510-739-3407, | Tel.: +91-80-2852-0261, |
Fax: +91-80-2852-0754 | Fax: 001-510-742 3090 | Fax: +91-80-2852-0754 |
E-mail: balakv@infosys.com | E-mail: sandeep_mahindroo@infosys.com | E-mail: parvatheesam_k@infosys.com. |
Stock exchange codes
Reuters Code | Telerate/Moneyline code | Bloomberg code |
INFY.BO (BSE) | IN;INF (BSE) | INFO IN (BSE) |
INFY.NS (NSE) | IN;INFN (NSE) | NINFO IN (NSE) |
INFY.O (NASDAQ) | US;INFY (NASDAQ) |
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13. Stock market data relating to American Depositary Shares (ADSs)
a. ADS listed at : | NASDAQ National Market in the US |
b. Ratio of ADS to equity shares: | One ADS for one equity share |
c. ADS symbol : | INFY |
d. The American Depositary Shares issued under the ADS program of the company were listed on the NASDAQ National Market in the US on March 11, 1999. The monthly high and low quotations as well as the volume of ADSs traded at the NASDAQ National Market for the quarter ended June 30, 2006 are:
| High* | Low* | Volume | ||
| $ | Rs. | $ | Rs. |
|
April 2006 | 84.78 | 3,803.23 | 74.98 | 3,363.60 | 2,24,53,510 |
May | 82.42 | 3,809.45 | 68.69 | 3,174.85 | 1,85,93,553 |
June | 76.41 | 3,504.92 | 65.71 | 3,014.11 | 2,15,99,868 |
For the period | 84.78 | 3,803.23 | 65.71 | 3,014.11 | 6,26,46,931 |
14. ECS mandate
The company has received complaints regarding non-receipt of dividend warrants. All shareholders are requested to update their bank account details with their respective depositories. This would enable the company to service its investors better.
15. Change of address
The company has received complaints regarding non-receipt of dividend warrants and other corporate communications. All shareholders are requested to update their current address with their respective depositories immediately. This would enable the company to service its investors better.
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Bankers Company Secretary Auditors Independent Auditors | Visit Infosys at Call us at within the U.S. outside the U.S | |||
© 2006 Infosys Technologies Limited, Bangalore, India. |