Exhibit 99.8
Form of Advertisement
![]() | Infosys Limited Regd. office: Electronics City, Hosur Road, Bangalore – 560 100, India | CIN : L85110KA1981PLC013115 Website: www.infosys.com email: investors@infosys.com T: 91 80 2852 0261, F: 91 80 2852 0362 |
Audited consolidated financial results of Infosys Limited and its subsidiaries for the quarter and year ended March 31, 2016, prepared in compliance with the International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board.
(in crore, except equity share and per equity share data)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Revenues | 16,550 | 15,902 | 13,411 | 62,441 | 53,319 |
Cost of sales(1) | 10,262 | 9,990 | 8,174 | 39,098 | 32,883 |
Gross profit | 6,288 | 5,912 | 5,237 | 23,343 | 20,436 |
Selling and marketing expenses | 909 | 859 | 736 | 3,431 | 2,941 |
Administrative expenses | 1,159 | 1,094 | 1,052 | 4,292 | 3,663 |
Operating profit | 4,220 | 3,959 | 3,449 | 15,620 | 13,832 |
Other income, net | 772 | 802 | 881 | 3,125 | 3,427 |
Share in associate's profit /(loss) | (1) | – | (1) | (3) | (1) |
Profit before income taxes | 4,991 | 4,761 | 4,329 | 18,742 | 17,258 |
Income tax expense | 1,394 | 1,296 | 1,232 | 5,251 | 4,929 |
Net profit | 3,597 | 3,465 | 3,097 | 13,491 | 12,329 |
Paid-up equity share capital (par value![]() | 1,144 | 1,144 | 572 | 1,144 | 572 |
Share premium, retained earnings and other components of equity | 60,635 | 54,191 | 54,191 | 60,635 | 54,191 |
Earnings per share (par value![]() | |||||
Basic | 15.74 | 15.16 | 13.55 | 59.03 | 53.94 |
Diluted | 15.74 | 15.16 | 13.55 | 59.02 | 53.94 |
(1) | Includes Depreciation and amortization expense of![]() ![]() |
(2) | adjusted for bonus issues wherever applicable |
1. | The audited consolidated financial statements for the quarter and year ended March 31, 2016 have been taken on record by the Board of Directors at its meeting held on April 15, 2016. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited consolidated financial statements. The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. |
2. | On November 6, 2015, the Securities and Exchange Board of India (SEBI) relaxed the requirements of Regulations 33(1)(c) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ending December 31, 2015 and quarter and financial year ending March 31, 2016 for all such listed entities which had exercised the option of preparing consolidated financial statements under IFRS for the earlier quarters of FY 2015-16. The company had earlier availed the option of publishing consolidated financial results under IFRS as per the press release issued by SEBI on November 9, 2009 and continues to do so for the quarter ending March 31, 2016 pursuant to the relaxation provided by the aforesaid November 6, 2015 circular. |
3. | i) | The shareholders of the company have approved, through postal ballot, the reappointment of Prof. Jeffrey S. Lehman with effect from April 14, 2016 to April 13, 2018. |
ii) | The shareholders of the company have approved, through postal ballot, the appointment of Dr. Punita Kumar-Sinha up to January 13, 2021. |
4. | Vide postal ballot, the shareholders of the company have approved the reappointment and remuneration of Dr. Vishal Sikka, CEO and Managing Director with effect from April 1, 2016 to March 31, 2021. |
5. | Pursuant to the approval by the shareholders through postal ballot which ended on March 31, 2016, the Board of Directors have been authorised to introduce, offer, issue and allot share-based incentives to eligible employees of the Company and its subsidiaries under the 2015 Stock Incentive Compensation Plan (2015 Plan). The maximum number of shares under the 2015 plan shall not exceed 2,40,38,883 equity shares (this includes 1,12,23,576 equity shares which are currently held by Infosys Limited Employees Welfare Trust towards the 2011 RSU Plan). 1,70,38,883 equity shares will be issued as RSUs at par value and 70,00,000 equity shares will be issued as stock options at market price. These instruments will vest over a period of 4 years and the Company expects to grant the instruments under the 2015 Plan over the period of 4 to 7 years. |
6. | Information on dividends for the quarter and year ended March 31, 2016 |
An interim dividend of![]() ![]() ![]() ![]() |
(in)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Dividend per share (par value![]() | |||||
Interim dividend | – | – | – | 10.00 | 30.00(1) |
Final dividend | 14.25 | – | 29.50(2) | 14.25 | 29.50(2) |
(1) | not adjusted for bonus issues on December 3, 2014 and June 17, 2015 |
(2) | not adjusted for bonus issue on June 17, 2015 |
7. Other information
(in crore)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Staff costs | 9,024 | 8,772 | 7,319 | 34,406 | 29,742 |
Items exceeding 10% of aggregate expenditure | – | – | – | – | – |
8. Audited financial results of Infosys Limited (Standalone Information)
(in crore)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Revenues | 14,158 | 13,562 | 11,926 | 53,983 | 47,300 |
Profit before exceptional item and tax | 4,712 | 4,376 | 4,170 | 17,657 | 16,386 |
Profit on transfer of business* | – | – | – | 3,036 | 412 |
Profit before tax | 4,712 | 4,376 | 4,170 | 20,693 | 16,798 |
Profit for the period | 3,399 | 3,183 | 3,024 | 15,786 | 12,164 |
* | Exceptional item pertains to profit on transfer of business to EdgeVerve Systems Limited, a wholly owned subsidiary. |
Note: | The audited results of Infosys Limited for the above mentioned periods are available on our website, www.infosys.com and on the Stock Exchange website www.nseindia.com and www.bseindia.com. The information above has been extracted from the audited financial statements as stated. |
9. Consolidated statement of Assets and Liabilities (IFRS Consolidated – Audited)
(in crore)
Particulars | As at | |
March 31, 2016 | March 31, 2015 | |
EQUITY AND LIABILITIES | ||
Shareholders’ funds | ||
Share capital | 1,144 | 572 |
Reserves and surplus | 60,635 | 54,191 |
Sub-total- Shareholders' Fund | 61,779 | 54,763 |
Minority interests | – | – |
Non-current liabilities | ||
Deferred tax liabilities (net) | 256 | 160 |
Other long-term liabilities | 115 | 46 |
Sub-total: Non-current liabilities | 371 | 206 |
Current liabilities | ||
Trade payables | 386 | 140 |
Other current liabilities | 12,341 | 10,765 |
Short-term provisions | 512 | 478 |
Sub-total- Current liabilities | 13,239 | 11,383 |
TOTAL - EQUITY AND LIABILITIES | 75,389 | 66,352 |
ASSETS | ||
Non-current assets | ||
Fixed assets | 11,515 | 9,763 |
Goodwill | 3,764 | 3,091 |
Non-current investments | 1,914 | 1,438 |
Deferred tax assets (net) | 536 | 537 |
Other non-current assets | 5,965 | 4,327 |
Sub-total- Non-current assets | 23,694 | 19,156 |
Current assets | ||
Current investments | 75 | 874 |
Trade receivables | 11,330 | 9,713 |
Cash and cash equivalents | 32,697 | 30,367 |
Other current assets | 7,593 | 6,242 |
Sub-total Current assets | 51,695 | 47,196 |
TOTAL - ASSETS | 75,389 | 66,352 |
The above disclosure is in compliance with Regulation 33(3) (f) read with Annexure IX of circular CIR/CFD/CMD/15/2015 dated November 30, 2015 issued by SEBI in this regard. The disclosure is an extract of the audited IFRS Consolidated Balance Sheet as at March 31, 2016.
10. Segment reporting (IFRS Consolidated – Audited)
(in crore)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Revenue by business segment | |||||
Financial Services (FS) | 4,522 | 4,377 | 3,628 | 17,024 | 14,394 |
Manufacturing (MFG) | 1,748 | 1,756 | 1,522 | 6,948 | 6,172 |
Energy & utilities, Communication and Services (ECS) | 3,635 | 3,410 | 2,926 | 13,547 | 12,005 |
Retail, Consumer packaged goods and Logistics (RCL) | 2,727 | 2,576 | 2,219 | 10,226 | 8,864 |
Life Sciences, Healthcare and Insurance (HILIFE) | 2,083 | 2,102 | 1,720 | 8,090 | 6,702 |
Hi-Tech | 1,327 | 1,198 | 1,056 | 4,891 | 3,918 |
All other segments | 508 | 483 | 340 | 1,715 | 1,264 |
Total | 16,550 | 15,902 | 13,411 | 62,441 | 53,319 |
Less: Inter-segment revenue | – | – | – | – | – |
Net revenue from operations | 16,550 | 15,902 | 13,411 | 62,441 | 53,319 |
Segment profit before tax, depreciation and non-controlling interests: | |||||
Financial Services (FS) | 1,249 | 1,250 | 1,096 | 4,839 | 4,262 |
Manufacturing (MFG) | 426 | 425 | 331 | 1,560 | 1,406 |
Energy & utilities, Communication and Services (ECS) | 1,108 | 969 | 844 | 4,029 | 3,608 |
Retail, Consumer packaged goods and Logistics (RCL) | 767 | 699 | 669 | 2,840 | 2,678 |
Life Sciences, Healthcare and Insurance (HILIFE) | 626 | 581 | 465 | 2,265 | 1,883 |
HiTech | 364 | 314 | 266 | 1,301 | 1,045 |
All other segments | 105 | 95 | 61 | 259 | 19 |
Total | 4,645 | 4,333 | 3,732 | 17,093 | 14,901 |
Less: Other unallocable expenditure | 425 | 374 | 283 | 1,473 | 1,069 |
Add: Unallocable other income | 772 | 802 | 881 | 3,125 | 3,427 |
Add: Share in Associate's profit / (loss) | (1) | – | (1) | (3) | (1) |
Profit before tax and non-controlling interests | 4,991 | 4,761 | 4,329 | 18,742 | 17,258 |
Notes on segment information
Business segments
During the quarter ended March 31, 2016, the Company reorganized some of its segments to enhance executive customer relationships, improve focus of sales investments and increase management oversight consequent to which,the erstwhile manufacturing segment is now being reviewed as Hi-Tech, Manufacturing and others included in ECS. Further, Infosys Public Services is also being reviewed seperately by the Chief Operating Decision maker. Consequent to the internal reorganizations, there were changes effected in the reportable business segments based on the "management approach" as defined in IFRS 8, Operating Segments. The previous period figures, extracted from the audited consolidated financial statements, have been presented after incorporating necessary reclassification adjustments pursuant to changes in the reportable segments.
Segmental capital employed
Assets and liabilities used in the Company's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.
By order of the Board | |
for Infosys Limited | |
Bangalore, India | Dr. Vishal Sikka |
April 15, 2016 | Chief Executive Officer and Managing Director |
The Board has also taken on record the unaudited condensed consolidated results of Infosys Limited and its subsidiaries for the quarter and year ended March 31, 2016, prepared as per International Financial Reporting Standards (IFRS) and reported in US Dollars. A summary of the financial statements is as follows:
(in US$ million, except per equity share data)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Revenues | 2,446 | 2,407 | 2,159 | 9,501 | 8,711 |
Cost of sales | 1,516 | 1,512 | 1,317 | 5,950 | 5,374 |
Gross profit | 930 | 895 | 842 | 3,551 | 3,337 |
Net profit | 533 | 524 | 498 | 2,052 | 2,013 |
Earnings per Equity Share# | |||||
Basic | 0.23 | 0.23 | 0.22 | 0.90 | 0.88 |
Diluted | 0.23 | 0.23 | 0.22 | 0.90 | 0.88 |
Total assets | 11,378 | 10,771 | 10,615 | 11,378 | 10,615 |
Cash and cash equivalents including available-for-sale financial assets (current) and certificates of deposit | 4,946 | 4,523 | 4,999 | 4,946 | 4,999 |
# | adjusted for bonus issues wherever applicable |
Certain statements in this advertisement concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this advertisement is April 15, 2016, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
![]() | Infosys Limited Regd. office: Electronics City, Hosur Road, Bangalore – 560 100, India | CIN : L85110KA1981PLC013115 Website: www.infosys.com email: investors@infosys.com T: 91 80 2852 0261, F: 91 80 2852 0362 |
Extract of Audited consolidated financial results of Infosys Limited and its subsidiaries for the quarter and year ended March 31, 2016, prepared in compliance with the International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board.
( in crore)
Particulars | Quarter ending March 31, | Year ending March 31, | Quarter ending March 31, |
2016 | 2016 | 2015 | |
Revenues | 16,550 | 62,441 | 13,411 |
Net profit | 3,597 | 13,491 | 3,097 |
Paid-up equity share capital (par value![]() | 1,144 | 1,144 | 572 |
Share premium, retained earnings and other components of equity | 60,635 | 60,635 | 54,191 |
Earnings per share (par value![]() | |||
Basic | 15.74 | 59.03 | 13.55 |
Diluted | 15.74 | 59.02 | 13.55 |
# | adjusted for bonus issues wherever applicable |
1. | The audited consolidated financial statements for the quarter and year ended March 31, 2016 have been taken on record by the Board of Directors at its meeting held on April 15, 2016. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited consolidated financial statements. The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. |
2. | i) | The shareholders of the company have approved, through postal ballot, the reappointment of Prof. Jeffrey S. Lehman with effect from April 14, 2016 to April 13, 2018. |
ii) | The shareholders of the company have approved, through postal ballot, the appointment of Dr. Punita Kumar- Sinha up to January 13, 2021. |
3. | Vide postal ballot, the shareholders of the company have approved the reappointment and remuneration of Dr. Vishal Sikka, CEO and Managing Director with effect from April 1, 2016 to March 31, 2021. |
4. | The Board of Directors recommended a final dividend of![]() |
5. | Pursuant to the approval by the shareholders through postal ballot which ended on March 31, 2016, the Board of Directors have been authorised to introduce, offer, issue and allot share-based incentives to eligible employees of the Company and its subsidiaries under the 2015 Stock Incentive Compensation Plan (2015 Plan). The maximum number of shares under the 2015 plan shall not exceed 2,40,38,883 equity shares ( this includes 1,12,23,576 equity shares which are currently held by Infosys Limited Employees Welfare Trust towards the 2011 RSU Plan). 1,70,38,883 equity shares will be issued as RSUs at par value and 70,00,000 equity shares will be issued as stock options at market price. These instruments will vest over a period of 4 years and the Company expects to grant the instruments under the 2015 Plan over the period of 4 to 7 years. |
6. | Audited financial results of Infosys Limited (Standalone Information) |
(in crore)
Particulars | Quarter ending March 31, | Year ending March 31, | Quarter ending March 31, |
2016 | 2016 | 2015 | |
Revenues | 14,158 | 53,983 | 11,926 |
Profit before exceptional item and tax | 4,712 | 17,657 | 4,170 |
Profit on transfer of business* | – | 3,036 | – |
Profit before tax | 4,712 | 20,693 | 4,170 |
Profit for the period | 3,399 | 15,786 | 3,024 |
* | Exceptional item pertains to profit on transfer of business to EdgeVerve Systems Limited, a wholly owned subsidiary. |
The above is an extract of the detailed format of Quarterly Financial Results filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.infosys.com.
Certain statements in this advertisement concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this advertisement is April 15, 2016, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
![]() | Infosys Limited Regd. office: Electronics City, Hosur Road, Bangalore – 560 100, India | CIN : L85110KA1981PLC013115 Website: www.infosys.com email: investors@infosys.com T: 91 80 2852 0261, F: 91 80 2852 0362 |
Audited financial results of Infosys Limited for the quarter and year ended March 31, 2016.
(in crore, except equity share and per equity share data)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Income from software services and products | 14,158 | 13,562 | 11,926 | 53,983 | 47,300 |
Expenses: | |||||
Employee benefit expenses | 7,300 | 7,103 | 6,183 | 28,206 | 25,115 |
Deferred consideration pertaining to acquisition | – | 18 | 51 | 110 | 219 |
Cost of technical sub-contractors | 1,191 | 1,226 | 836 | 4,417 | 2,909 |
Travel expenses | 438 | 360 | 325 | 1,655 | 1,360 |
Cost of software packages and others | 223 | 200 | 223 | 1,049 | 979 |
Communication expenses | 79 | 73 | 90 | 311 | 384 |
Consultancy and professional charges | 155 | 153 | 148 | 563 | 396 |
Depreciation and amortization expense | 315 | 275 | 241 | 1,115 | 913 |
Other expenses | 523 | 515 | 550 | 1,909 | 1,976 |
Total expenses | 10,224 | 9,923 | 8,647 | 39,335 | 34,251 |
Profit from operations before other income | 3,934 | 3,639 | 3,279 | 14,648 | 13,049 |
Other income | 778 | 737 | 891 | 3,009 | 3,337 |
Profit before exceptional item and tax | 4,712 | 4,376 | 4,170 | 17,657 | 16,386 |
Profit on transfer of business(1) | – | – | – | 3,036 | 412 |
Profit before tax | 4,712 | 4,376 | 4,170 | 20,693 | 16,798 |
Tax expense | 1,313 | 1,193 | 1,146 | 4,907 | 4,634 |
Net Profit for the period | 3,399 | 3,183 | 3,024 | 15,786 | 12,164 |
Paid-up equity share capital (par value![]() | 1,148 | 1,148 | 574 | 1,148 | 574 |
Reserves and surplus | 56,009 | 47,494 | 47,494 | 56,009 | 47,494 |
Earnings per share (par value![]() | |||||
Before exceptional item | |||||
Basic | 14.80 | 13.86 | 13.16 | 55.51 | 51.17 |
Diluted | 14.80 | 13.86 | 13.16 | 55.51 | 51.17 |
After exceptional item | |||||
Basic | 14.80 | 13.86 | 13.16 | 68.73 | 52.96 |
Diluted | 14.80 | 13.86 | 13.16 | 68.73 | 52.96 |
(1) | Exceptional item pertains to profit on transfer of business to EdgeVerve, a wholly owned subsidiary. |
(2) | adjusted for bonus issues wherever applicable |
1. | The audited financial statements for the quarter and year ended March 31, 2016 have been taken on record by the Board of Directors at its meeting held on April 15, 2016. The statutory auditors have expressed an unqualified audit opinion. The information presented above is extracted from the audited standalone financial statements. |
2. | i) | The shareholders of the company have approved, through postal ballot, the reappointment of Prof. Jeffrey S. Lehman with effect from April 14, 2016 to April 13, 2018. |
ii) | The shareholders of the company have approved, through postal ballot, the appointment of Dr. Punita Kumar- Sinha up to January 13, 2021. |
3. | Vide postal ballot, the shareholders of the company have approved the reappointment and remuneration of Dr. Vishal Sikka, CEO and Managing Director with effect from April 1, 2016 to March 31, 2021. |
4. | Pursuant to the approval by the shareholders through postal ballot which ended on March 31, 2016, the Board of Directors have been authorised to introduce,offer, issue and allot share-based incentives to eligible employees of the Company and its subsidiaries under the 2015 Stock Incentive Compensation Plan (2015 Plan). The maximum number of shares under the 2015 plan shall not exceed 2,40,38,883 equity shares (this includes 1,12,23,576 equity shares which are currently held by Infosys Limited Employees Welfare Trust towards the 2011 RSU Plan). 1,70,38,883 equity shares will be issued as RSUs at par value and 70,00,000 equity shares will be issued as stock options at market price. These instruments will vest over a period of 4 years and the Company expects to grant the instruments under the 2015 Plan over the period of 4 to 7 years. |
5. | Information on dividends for the quarter and year ended March 31, 2016 |
An interim dividend of![]() ![]() ![]() ![]() |
(in)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Dividend per share (par value![]() | |||||
Interim dividend | – | – | – | 10.00 | 30.00(1) |
Final dividend | 14.25 | – | 29.50(2) | 14.25 | 29.50(2) |
(1) | not adjusted for bonus issues on December 3, 2014 and June 17, 2015 |
(2) | not adjusted for bonus issue on June 17, 2015 |
6. | Statement of assets and liabilities (Standalone – Audited) |
(in crore)
Particulars | As at | |
March 31, 2016 | March 31, 2015 | |
EQUITY AND LIABILITIES | ||
Shareholders’ funds | ||
Share capital | 1,148 | 574 |
Reserves and surplus | 56,009 | 47,494 |
Sub-total-Shareholders' funds | 57,157 | 48,068 |
Non-current liabilities | ||
Deferred tax liabilities (net) | – | – |
Other long-term liabilities | 73 | 30 |
Sub-total Non-current liabilities | 73 | 30 |
Current liabilities | ||
Trade payables | 623 | 124 |
Other current liabilities | 6,105 | 5,546 |
Short-term provisions | 8,809 | 8,045 |
Sub-total Current liabilities | 15,537 | 13,715 |
TOTAL - EQUITY AND LIABILITIES | 72,767 | 61,813 |
ASSETS | ||
Non-current assets | ||
Fixed assets | 9,182 | 8,116 |
Non-current investments | 11,111 | 6,108 |
Deferred tax assets (net) | 405 | 433 |
Long-term loans and advances | 5,970 | 4,378 |
Other non-current assets | 2 | 26 |
Sub-total Non-current assets | 26,670 | 19,061 |
Current assets | ||
Current investments | 2 | 749 |
Trade receivables | 9,798 | 8,627 |
Cash and cash equivalents | 29,176 | 27,722 |
Short-term loans and advances | 7,121 | 5,654 |
Sub-total Current assets | 46,097 | 42,752 |
TOTAL - ASSETS | 72,767 | 61,813 |
The above disclosure is in compliance with Regulation 33(3)(f) read with Annexure IX of circular CIR/CFD/CMD/15/2015 dated November 30, 2015 issued by SEBI in this regard. The disclosure is an extract of the audited Standalone Balance Sheet of Infosys Limited as at March 31, 2016.
The Central Government in consultation with National Advisory Committee on Accounting Standards has amended Companies (Accounting Standards) Rules, 2006 (‘principal rules’), vide notification issued by Ministry of Corporate Affairs dated March 30, 2016. The Companies (Accounting Standards) Rules, 2016 is effective March 30, 2016. According to the amended rules, the proposed final dividend mentioned above in note 5 will not be recorded as a liability as at March 31, 2016. (Refer Para 8.5 of AS-4 – Contingencies and Events occurring after Balance Sheet date). The Company believes, based on a legal opinion, that the Rule 3(2) of the principal rules has not been withdrawn or replaced and accordingly, the Companies (Accounting Standards) Rule, 2016 will apply for the accounting periods commencing on or after March 30, 2016. Therefore the Company has recorded3,939 crore as liability for proposed dividends (including corporate dividend tax) as at March 31, 2016.
7. | Segment reporting (Standalone – Audited) |
(in crore)
Particulars | Quarter ended March 31, | Quarter ended December 31, | Quarter ended March 31, | Year ended March 31, | |
2016 | 2015 | 2015 | 2016 | 2015 | |
Revenue by industry segment | |||||
Financial Services and Insurance (FSI) | 4,552 | 4,468 | 4,126 | 17,791 | 16,175 |
Manufacturing and Hi - Tech (MFG & Hi-Tech) | 3,127 | 2,990 | 2,634 | 12,087 | 10,230 |
Energy & utilities, Communication and Services (ECS) | 3,030 | 2,803 | 2,377 | 10,997 | 9,756 |
Retail, Consumer Packaged Goods and Logistics (RCL) | 2,525 | 2,379 | 2,097 | 9,501 | 8,369 |
Life Sciences and Healthcare (LSH) | 924 | 922 | 692 | 3,607 | 2,770 |
Total | 14,158 | 13,562 | 11,926 | 53,983 | 47,300 |
Less: Inter-segment revenue | – | – | – | – | – |
Net revenue from operations | 14,158 | 13,562 | 11,926 | 53,983 | 47,300 |
Segment profit before tax and depreciation | |||||
Financial Services and Insurance (FSI) | 1,265 | 1,251 | 1,268 | 5,068 | 4,905 |
Manufacturing and Hi - Tech (MFG & Hi-Tech) | 923 | 870 | 695 | 3,424 | 2,798 |
Energy & utilities, Communication and Services (ECS) | 1,010 | 847 | 733 | 3,425 | 2,920 |
Retail, Consumer Packaged Goods and Logistics (RCL) | 762 | 715 | 656 | 2,835 | 2,620 |
Life Sciences and Healthcare (LSH) | 289 | 231 | 172 | 1,011 | 723 |
Total | 4,249 | 3,914 | 3,524 | 15,763 | 13,966 |
Less:Other unallocable expenditure | 315 | 275 | 245 | 1,115 | 917 |
Add:Unallocable other income | 778 | 737 | 891 | 3,009 | 3,337 |
Profit before exceptional item and tax | 4,712 | 4,376 | 4,170 | 17,657 | 16,386 |
Exceptional item(1) | – | – | – | 3,036 | 412 |
Profit before tax | 4,712 | 4,376 | 4,170 | 20,693 | 16,798 |
(1) | Exceptional item pertains to profit on transfer of business to EdgeVerve, a wholly owned subsidiary. |
Notes on segment information:
Primary segments
The Company's operations predominantly relate to providing end-to-end business solutions to enable clients to enhance business performance. Revenues represented along industries served constitute the primary basis of the segmental information set out above. During the year ended March 31, 2016, the Company reorganized its segments to enhance executive customer relationships, improve focus of sales investments and increase management oversight. However the reorganizations did not have any impact in the reportable segments as per AS 17 'Segment reporting' apart from Manufacturing being named as Manufacturing and Hi-Tech.
Segmental capital employed
Assets and liabilities used in the company's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.
By order of the Board | |
for Infosys Limited | |
Bangalore, India | Dr. Vishal Sikka |
April 15, 2016 | Chief Executive Officer and Managing Director |
Certain statements in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this release is April 15, 2016, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.