We are pleased to inform you that we have ended fiscal 2013 with a
growth of 19.6% in rupee terms and 5.8% in U.S. dollar terms.
As per the International Financial Reporting Standards (IFRS) in
rupees, our consolidated revenues for fiscal 2013 stood at Rs. 40,352
crore, a year-on-year growth of 19.6%. The profit after tax was Rs.
9,421 crore, a year-on-year growth of 13.3%. In accordance with the
IFRS in U.S. dollar, our annual revenue for fiscal 2013 stood at US
,398 million, a year-on-year growth of 5.8%, while our net income
stood at US ,725 million, a year-on-year growth of 0.5%.
Out of the total revenue, North America and Europe accounted for 62.2%
and 23.1% respectively, while India and the Rest of the World
contributed 2.1% and 12.6% respectively. We expanded our global
footprint this fiscal with a new delivery center in Munich, Germany. We
also opened a second office in the city of Nagoya in Japan, a new
delivery center in Milwaukee, Wisconsin and an onshore operations
center in the Metro Atlanta Area, U.S. Our BPO subsidiary opened a new
delivery center in San Jose, Costa Rica.
We are pleased to announce a final dividend of Rs. 27 per share for
fiscal 2013. Earlier in the fiscal, we paid an interim dividend of Rs.
15 per share.
Liquid assets of the company, including cash and cash equivalents,
current available-for-sale financial assets, investment in certificates
of deposits and government bonds were Rs. 23,958 crore at the end of
this fiscal, versus Rs. 20,968 crore as on March 31, 2012.
Infosys and its subsidiaries added 235 new clients this fiscal, taking
our total client base to 798. The number of our million-dollar clients
has gone up to 448 this fiscal from 399 in the previous fiscal.
Consulting, Package Implementation and Others contributed 31.4% of our
revenues for the year ended March 31, 2013.
We acquired Lodestone Holding AG, a leading global management
consultancy firm, for a cash consideration of US 9 million and up to
US 2 million as deferred purchase price.
Business IT services contributed 62.9% of our revenues this fiscal.
Services like infrastructure testing, developed by integrating our
expertise across infrastructure management and testing services, are
clearly driving incremental growth for this business. In fiscal 2013,
we won more than 15 large, integrated outsourcing deals worth over a
billion dollars in total contract value.
Our India Business Unit continues to see good traction. We were
selected by the Ministry of Corporate Affairs (MCA) to further
strengthen and transform the new phase of the MCA 21 V2 project. We
have recently been engaged to develop the Haryana State Portal project
that has been formulated under the National e-Governance Plan to
provide easy and convenient services to citizens via the Internet. The
Department of Industrial Policy and Promotion, Ministry of Commerce and
Industry — Government of India launched the first phase of eBiz,
India''s first Government-to-Business portal, which has been developed
by us in a public-private partnership model.
Infosys Public Services, our U.S.-based subsidiary, has won deals
across segments including healthcare and government in the last fiscal.
The District of Columbia awarded us a contract valued at US .5
million for one year to implement the District of Columbia Access
System (DCAS), a state-of-the-art health and human services solution.
We continue to see momentum in the Products, Platforms and Solutions
space which contributed 5.7% of our revenues in the last fiscal. We won
51 deals (excluding Finacle®) across industries and geographies,
taking the client count to over 75. We have decided to set aside up to
US 0 million to invest in this space. Finacle® continued its
business momentum with 48 wins this fiscal.
Our clients are increasingly looking at Mobility to drive growth,
efficiency and customer centricity, and we are their trusted partners
in this journey. Our researchers filed 97 unique patent applications in
India and the U.S.
We added 37,036 employees (net addition of 6,694) this fiscal, and the
total employee strength for the year ended March 31, 2013 was 1,56,688,
for Infosys and its subsidiaries.
Over the last fiscal, we received several prestigious awards and
recognitions. Infosys Cloud Ecosystem Hub won the 2012 Golden Peacock
Award for the most innovative product / service. The National
Association of Software and Services Companies (NASSCOM) awarded the
prestigious Business Innovation Award to Infosys Edge. We were named a
2013 Computerworld Honors Laureate in recognition of our use of
information technology to promote and advance public welfare, benefit
society and business, and change the world for the better. Our
enterprise mobility services were highly rated by various analysts,
including a leader rating in The Forrester Wave™: Enterprise Mobility
Services, Q1 2013 report. Ovum, the global analyst firm, recognized
Flypp™ Digital Experience Platform for its well-developed ecosystem
of services, large repository of apps (comparable to Google Play and
the App Store) and monetization processes. We were recognized as one of
the Achievers 50 Most Engaged Workplaces™ in the U.S. for our
leadership and innovation towards engaging employees. We were ranked
second in the 2012 Global Outsourcing 100 List compiled annually by the
International Association of Outsourcing Professionals (IAOP). Infosys
China was listed among the Top 10 Global Service Providers in China by
the China Council for International Investment Promotion for the second
consecutive year. Infosys BPO won the Award for Innovation in Learning
at the Best Learning & Development Awards 2012, the Golden Peacock HR
Excellence Award 2012 and the Award for Institution Building at the
Asia Pacific HRM Congress Awards, 2012.
Earlier this year, we became the first Indian company to be listed on
NYSE Euronext London. With this, we further strengthened our focus on
the European market which is increasingly becoming a strategic market
for us with our business, investor and employee base growing in the
I am pleased to inform you that Leo Puri, a Senior Advisor of McKinsey
& Company''s Asia-Pacific Financial Institution Practice, has been
appointed Additional Director of the Company with effect from April 11,
The just-concluded financial year marks the completion of the 32nd year
of our exciting journey. In a little over three decades, we have, as an
organization, crossed frontiers we had never imagined were possible. We
have pioneered many firsts including a global delivery model which is a
widely accepted industry standard today We have established benchmarks
that were never before achieved in the industry. Most importantly, we
have proven beyond doubt that it is possible to build a world-class
organization by operating legally, ethically and with fairness,
transparency and integrity
Along the way, we have created jobs, improved livelihoods and enabled
our industry to establish its dominance in the global playing field. In
every way possible, we have rewarded the people who have not only
believed in the Infosys dream but have also played their part in
keeping it alive. Looking back, we take pride in what we have been able
to accomplish so far.
However, this journey has not been easy and we have encountered
obstacles along the way. Time and again, our resilience has been put to
the test. We had to overcome challenges that could have changed the
fate of our organization. Be it game-changing trends in technology,
industry and business models, or regulatory challenges, we had to steer
ourselves clear of turbulent waters many a time. This required us to
transform ourselves as an organization — to adapt to changing
business environments and also the changing business priorities of our
We passed through one such transformation recently. We embarked on our
new strategic direction of Building Tomorrow''s Enterprise which
provides our clients with the framework of innovation to leverage the
opportunities provided by the emerging future and to prepare for its
challenges. This new strategic direction has set us on a journey to
redefine the industry for long-term, sustainable and high-quality
It is times like these that have witnessed our organizational growth
slowing down. Sometimes, these slowdowns were also caused by reasons
beyond our control. Hindsight gives us the luxury to realize these
facts. In the eye of the storm though, every slowdown led to concerns
over the strength and relevance of the strategic choices we made as an
If we tell you that this anxiety in the marketplace does not bother us,
we would not be speaking the truth. Yes, it does cause the rare moment
of self-doubt. However, like every time in the past when our strategic
choices were being questioned, this time too, we have the utmost
conviction in our strategic choices. We also have the same unstinting
confidence in our ability to succeed.
Our confidence takes firm roots in several aspects. Almost 98% of our
revenues come from repeat business. This is testament to the trust that
our clients place in us and in our ability to adapt to their changing
business needs. Our new strategic direction is being received very well
by our clients, industry bodies and analysts alike. We have witnessed
early successes and the road ahead is both encouraging and promising.
We have immense confidence in the capabilities of our biggest asset —
our people. Every time in the past when we had to dig deep within to
pull ourselves out of turbulent times, it is the passion, commitment
and never-say-die attitude of our people that have helped us succeed.
This time will be no different. Last, but not the least, we are
confident that we will succeed because we are a learning organization.
We are as committed to learning from our successes and right choices as
from our failures and bad choices. We will continue to do what we are
best at — fulfill our responsibilities towards all our stakeholders.
We will leave no stone unturned in doing what it takes to work with
them, and for them. We are listening and we are learning.
As we enter another financial year, we look forward to receiving your
continued trust and support.
S. D. Shibulal
Bangalore Chief Executive Officer and
April 12, 2013 Managing Director