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Directors Report Year End : Mar '14    « Mar 13
We are delighted to present the report on our business and operations
 for the year ended March 31, 2014.
 1.  Results of our operations
                                 in Rs. crore, except per share data
 Particulars                 Standalone          Consolidated
                             2014       2013     2014          2013
 Income from software 
 services and products        44,341     36,765   50,133        40,352
 Software development 
 expenses                     26,738     21,662   30,804        24,179
 Gross profit                 17,603     15,103   19,329        16,173
 Selling and marketing 
 expenses                      2,390      1,870    2,625         2,034
 General and administration 
 expenses                      2,686      2,218    3,323         2,606
 Operating Profit Before 
 Depreciation                 12,527     11,015   13,381        11,533
 Depreciation and 
 amortization                  1,101        956    1,317         1,099
 Operating profit             11,426     10,059   12,064        10,434
 Other income                  2,576      2,215    2,664         2,365
 Profit before exceptional 
 item and tax                 14,002     12,274   14,728        12,799
 Dividend income (1)            –            83     –             –
 Profit before tax            14,002     12,357   14,728        12,799
 Tax expense                   3,808      3,241    4,072         3,370
 Profit for the period        10,194      9,116   10,656         9,429
 Surplus – opening balance    25,383     19,993   26,041        20,323
 Dividend eliminated on 
 consolidation of trust           13       –          13            15
 Reserves on transfer of 
 assets and liabilities 
 of Infosys Consulting 
 India Limited                     6       –        –             –
 Reserves on consolidation 
 of trust                         50       –        –             –
 Amount available for 
 appropriation                35,646     29,109   36,710        29,767 
 Interim                       1,149        862    1,149           862
 Final                         2,469      1,550    2,469         1,550
 Total dividend                3,618      2,412    3,618         2,412
 Dividend tax                    615        403      615           403
 Amount transferred to 
 general reserve               1,021        911    1,021           911
 Amount transferred to 
 legal reserve                  –          –           3          –
 Surplus – closing balance    30,392     25,383   31,453        26,041
 Earnings Per Share (EPS) 
 before exceptional 
 item (2)
 Basic                        178.39     157.55    186.49       165.01
 Diluted                      178.39     157.55    186.49       165.01 
 EPS after exceptional 
 item (2)
 Basic                        178.39     158.76    186.49       165.01
 Diluted                      178.39     158.76    186.49       165.01 
 Notes : The above figures are extracted from the standalone and
 consolidated financial statements as per Indian GAAP.  1 crore = 10
 (1) Dividend received of Rs. 83 crore from the wholly-owned subsidiary,
 Infosys Technologies Australia Pty. Limited, during the year ended
 March 31, 2013.
 (2) Equity shares are at par value of Rs. 5/- each.
 Revenues – standalone
 Our total income on a standalone basis increased to Rs. 44,341 crore from
 Rs. 36,765 crore in the previous year, at a growth rate of 20.6%.  Our
 software export revenues aggregated to Rs. 43,063 crore, up by 19.8% from
 Rs. 35,932 crore in the previous year. Out of the total revenue, 63.1%
 came from North America, 22.1% from Europe, 2.9% from India and 11.9%
 from the Rest of the World. On a standalone basis, our share of
 revenues from all parts of the world outside of North America increased
 to 36.9% in the current year from 36.2% in the previous year.
 Revenues – consolidated
 Our total income on a consolidated basis increased to Rs. 50,133 crore
 from Rs. 40,352 crore in the previous year, at a growth rate of 24.2%.
 Our software export revenues aggregated to Rs. 48,839 crore, up by 23.6%
 from Rs. 39,511 crore in the previous year. Out of the total revenue,
 60.7% came from North America, 24.4% from Europe, 2.6% from India, and
 12.3% from the Rest of the World. A focus of our growth strategy is to
 expand our business to parts of the world outside North America to
 diversify our revenues. On a consolidated basis, our share of revenues
 from all parts of the world outside North America increased to 39.3% in
 the current year from 37.8% in the previous year.
 Profits – standalone
 Our gross profit on a standalone basis amounted to Rs. 17,603 crore
 (39.7% of revenue) as against Rs. 15,103 crore (41.1% of revenue) in the
 previous year. The Operating Profit Before Depreciation amounted to Rs.
 12,527 crore (28.2% of revenue) as against Rs. 11,015 crore (30.0% of
 revenue) in the previous year. Sales and marketing costs were 5.4% and
 5.1% of our revenue for the years ended March 31, 2014 and March 31,
 2013, respectively. General and administration expenses were 6.1% and
 6.0% of our revenues during the current year and previous year,
 respectively. The net profit before exceptional item and tax was Rs.
 14,002 crore (31.6% of revenue) as against Rs. 12,274 crore (33.4% of
 revenue) in the previous year.
 Profits – consolidated
 Our gross profit on a consolidated basis amounted to Rs. 19,329 crore
 (38.5% of revenue) as against Rs. 16,173 crore (40.1% of revenue) in the
 previous year. The Operating Profit Before Depreciation amounted to Rs.
 13,381 crore (26.7% of revenue) as against Rs. 11,533 crore (28.6% of
 revenue) in the previous year. Sales and marketing costs were 5.2% and
 5.0% of our revenue for the years ended March 31, 2014 and March 31,
 2013, respectively. General and administration expenses were 6.6% and
 6.5% of our revenues during the current year and previous year,
 respectively. The net profit before tax was Rs. 14,728 crore (29.4% of
 revenue) as against Rs. 12,799 crore (31.7% of revenue) in the previous
 Capital expenditure – standalone
 This year, on a standalone basis, we capitalized Rs. 2,381 crore.  This
 comprises Rs. 672 crore for investment in computer equipment, Rs. 3 crore
 on vehicles and the balance of Rs. 1,706 crore on infrastructure
 In the previous year, we added Rs. 1,422 crore including Rs. 96 crore
 transferred from Infosys Technologies Australia Pty. Limited to our
 gross block. This comprises Rs. 640 crore for investment in computer
 equipment, Rs. 30 crore in Intellectual Property Rights, Rs. 1 crore on
 vehicles, and the balance of Rs. 751 crore on infrastructure investments.
 Capital expenditure – consolidated
 On a consolidated basis, we capitalized Rs. 2,533 crore in the current
 year. This comprises Rs. 759 crore for investment in computer equipment,
 Rs. 11 crore on vehicles, and the balance of Rs. 1,763 crore on
 infrastructure investments.
 In the previous year, we added Rs. 1,556 crore (excluding goodwill of Rs.
 1,153 crore) to our gross block. This comprises Rs. 702 crore for
 investment in computer equipment, Rs. 9 crore in Intellectual Property
 Rights, Rs. 19 crore on vehicles, and the balance of Rs. 826 crore on
 infrastructure investments.
 We continue to be debt-free and maintain sufficient cash to meet our
 strategic objectives. We understand that liquidity in the Balance Sheet
 has to balance between earning adequate returns and the need to cover
 financial and business risks. Liquidity enables us to make a rapid
 shift in direction, should the market so demand. During fiscal year
 2014, internal cash flows have more than adequately covered working
 capital requirements, capital expenditure, investment in subsidiaries
 and dividend payments. As on March 31, 2014, on a standalone basis, we
 had liquid assets of Rs. 28,149 crore as against Rs. 22,289 crore at the
 previous year-end. On a consolidated basis, we had liquid assets of Rs.
 30,277 crore at the current year-end as against Rs. 23,944 crore at the
 previous year-end. These funds comprise deposits with banks,
 highly-rated financial institutions, liquid mutual funds, fixed
 maturity plans, certificates of deposit, tax-free bonds and government
 bonds.  The tax-free bonds and government bonds are disclosed under
 non-current investments.
 Our earlier policy was to pay dividend of up to 30% of the post-tax
 profits. At the Board meeting held on April 15, 2014, the Board decided
 to increase the dividend pay-out ratio to up to 40% of post-tax profits
 effective fiscal year 2014. In October 2013, we paid an interim
 dividend of Rs. 20/- per share (par value of Rs. 5/- each). We recommended
 a final dividend of Rs. 43/- per share (par value of Rs. 5/- each), making
 in all Rs. 63/- per share (par value of Rs. 5/- each), as dividend for the
 The total dividend pay-out (excluding dividend tax) for the current
 year is Rs. 3,618 crore as against Rs. 2,412 crore in the previous year.
 Dividend (including dividend tax) as a percentage of consolidated net
 profit after tax is 39.7% as compared to 29.9% in the previous year.
 The Register of Members and Share Transfer Books will remain closed
 from May 31, 2014 to June 14, 2014 (both days inclusive) for the
 purpose of payment of the final dividend for the financial year ended
 March 31, 2014 and the Annual General Meeting (AGM). The AGM is
 scheduled to be held on June 14, 2014.
 Transfer to reserves
 We propose to transfer Rs. 1,021 crore (10% of the standalone net profit
 for the year) to the general reserve. An amount of Rs. 30,392 crore is
 proposed to be retained in the Surplus.
 Fixed deposits
 We have not accepted any fixed deposits and, as such, no amount of
 principal or interest was outstanding as of the Balance Sheet date.
 Management''s discussion and analysis
 In terms of the provisions of Clause 49 of the Listing Agreement, the
 Management''s discussion and analysis is set out in this Annual Report.
 2.  Business Strategy
 During the year, we continued to work on the vision articulated in the
 Infosys 3.0 strategy and also strengthened focus on our core competence
 area of Business IT Services (BITS). We also continued to explore and
 invest in the products and platforms space. Given the very different
 R&D environment demanded by products and platforms, and the objective
 of delinking revenues from person-month effort, the Board approved the
 transfer of the existing Products, Platforms and Solutions business
 (excluding Finacle) to a wholly-owned subsidiary of Infosys Limited.
 The new subsidiary has been named Edgeverve Systems Limited. Edgeverve
 Systems Limited is a related party as defined under the Companies Act,
 2013. The transaction requires members'' approval by way of special
 resolution and hence the Board has decided to seek the members''
 approval at the ensuing AGM.
 We also introduced a number of strategic initiatives during the fiscal
 year to spur overall growth and productivity in the Company. The
 following are some of the broad areas covered by these initiatives :
 Cost optimization : A series of measures have been initiated to yield
 high levels of cost optimization. These include focusing on location
 optimization, increasing offshore effort ratios, deploying people in
 the right jobs and eliminating unnecessary costs.
 Enhancing sales productivity : We are focusing on reinvigorating our
 sales teams and enabling them with better systems, training, processes
 and metrics. This will help us in winning large revenue yielding
 multi-year outsourcing projects.
 Improving delivery effectiveness : Our software delivery has always
 been of a high order, and we want to re-focus on strengthening it
 further. We are developing intellectual property (IP)-based solutions
 to delink revenue from effort and focusing on improving individual work
 Organizational changes
 Dynamic challenges faced by businesses today require companies to
 evolve with changing times to remain competitive. As part of the
 organizational changes that were implemented during fiscal year 2014,
 our Board adopted a two-president governance structure for the Company
 and appointed B. G. Srinivas and U. B. Pravin Rao as Presidents of the
 Company, reporting to the Chief Executive Officer and Managing
 Director, S. D. Shibulal, effective January 3, 2014.  Following the
 appointment of the Presidents, the Executive Council ceased to exist
 with effect from April 1, 2014.
 The existing business portfolios have been realigned under the two
 Presidents. To strengthen our focus on growing existing client
 relationships and increasing market share through service
 differentiation and operational agility, changes have been made in our
 organizational structure. In order to retain industry focus and
 strengthen client-centric delivery, the operating segments have been
 provided with integrated sales and delivery functions.
 The following are the operating segments : Energy, Communications and
 - Financial Services
 - Growth Markets
 - Insurance
 - Life Sciences and Healthcare
 - Manufacturing
 - Resources and Utilities
 - Retail, Consumer Packaged Goods and Logistics
 Client base
 Our client-centric approach has continued to result in high levels of
 client satisfaction. We derived 97.7% of our consolidated revenues from
 repeat business. We, along with our subsidiaries, added 238 new
 clients, including a substantial number of large global corporations.
 Our total client base at the end of the year stood at 890. The client
 segmentation for the current and previous years on a consolidated basis
 is as follows :
                                      in Nos
 Clients                   2014    2013
 1 million dollar           501     448
 5 million dollar           232     213
 10 million dollar          148     137
 20 million dollar           91      80
 30 million dollar           70      62
 40 million dollar           57      49
 50 million dollar           42      40
 60 million dollar           38      33
 70 million dollar           30      28
 80 million dollar           20      19
 90 million dollar           17      17
 100 million dollar          13      12
 200 million dollar           3       3
 300 million dollar           1       –
 During the year, we added 51.62 lakh sq. ft. of physical infrastructure
 space. The total available space as on March 31, 2014 stands at 368.06
 lakh sq. ft. The number of marketing offices as on March 31, 2014 was
 73, compared to 69 in the previous year.
 We are a global IT services and consulting company. Our subsidiaries
 help us deliver end-to-end services to maximize value for our clients.
 At the beginning of the year, we had 10 direct subsidiaries. During the
 year, we incorporated Edgeverve Systems Limited and Infosys Americas,
 Inc. The Honorable High Court of Karnataka sanctioned the scheme of
 amalgamation of Infosys Consulting India Limited with Infosys Limited
 with an effective date of August 23, 2013 and an appointed date of
 January 12, 2012. As on March 31, 2014, we have 11 direct subsidiaries
 and 25 step-down subsidiaries.
 During the year, the Board of Directors reviewed the affairs of the
 subsidiary companies. As per Section 212 of the Companies Act, 1956, we
 are required to attach the Balance Sheet, Statement of Profit and Loss
 and other documents of our subsidiaries. The Ministry of Corporate
 Affairs, Government of India vide its Circular No. 2/2011 dated
 February 8, 2011, exempted companies from complying with Section 212,
 provided such companies publish the audited consolidated financial
 statements in the Annual Report. The Company has published the audited
 consolidated financial statements for the fiscal year 2014 and the same
 forms part of this Annual Report.  Accordingly, this Annual Report does
 not contain the financial statements of our subsidiaries. The Statement
 pursuant to Section 212 of the Companies Act, 1956, highlighting the
 summary of the financial performance of our subsidiaries is annexed to
 this report.
 The audited financial statements and related information of
 subsidiaries are available on our website, These
 documents will also be available for inspection during business hours
 at our registered office in Bangalore, India.
 Products, platforms and solutions
 In November 2013, Gartner analyst Susan Tan, in her report, Market
 Insight : Integrated Platform Solutions are the Next Frontier for IT
 Services Providers, stated, Infosys is perhaps the most aggressive of
 IT services providers in going after the integrated platform solution
 market. This is a strong endorsement for our Products, Platforms and
 Solutions group, which operates under the Infosys Edge umbrella. The
 report also highlights the strengths of our Edge Platform Solutions —
 providing the client with end-to-end solutions, bundling
 infrastructure, software license, operations and business process
 With seven Edge products / platforms and six other product-based
 solutions and nearly 90 clients, Infosys Edge has developed a key
 portfolio of strategic investments in products and platforms and has a
 good mix of horizontal and vertical offerings. This has helped us
 establish ourselves as a credible IP owner.
 Offerings from Infosys Edge
 Infosys AssistEdge : This is a customer service experience product for
 contact centers that provides an integrated service experience across
 all customer service channels including web, chat, phone and social
 media. It enables organizations to realize a faster return on
 investment through improved agent efficiency, reduced call volumes, and
 quicker go-live periods.
 Infosys BrandEdge : This simplifies digital marketing through a
 comprehensive cloud-based platform that helps enterprises build digital
 assets and launch marketing campaigns to listen, analyze, and act on
 customer insights. BrandEdge improves the efficiency of marketing teams
 and helps drive deeper customer relationships through effective
 multi-channel conversations.
 Infosys Credit Servicing Platform : This solution helps financial
 institutions manage multiple loans and asset classes across the globe.
 It manages multiple credit types and asset classes through the complete
 life cycle — from on-boarding to resolution and closure.  Infosys
 DigitizeEdge : This offering helps enterprises enrich and deliver
 digital assets through a variety of business models. It helps in
 conversion, enrichment, and normalization of digital assets to
 proactively engage with consumers across digital channels, including
 mobiles and television. This includes Infosys Flypp™ and Digital
 Transformation offerings.
 Infosys InteractEdge : This solution enhances consumer experience for
 brands and enterprises across all digital touchpoints. It helps them
 create and manage content, democratize access to content, personalize
 recommendation of content and products, and finally, build transaction
 capability from anywhere and for anyone.  Infosys ProcureEdge : This
 helps enterprises realize rapid and sustainable savings across their
 source-to-pay lifecycle. Delivered in the cloud, ProcureEdge can be
 deployed rapidly, enabling enterprises to enhance savings, reduce total
 cost of ownership, and improve supplier performance and compliance.
 Infosys TradeEdge : An insight-driven sales platform for global brands
 to accelerate profitable growth in emerging markets, TradeEdge helps
 brands know markets better, reach customers faster and drive costs
 lower. It helps global companies reach billions of new consumers, and
 increase revenues while reducing non-productive inventory.
 Other products and solutions
 Our strategic approach to non-linear business growth has resulted in
 significant investments in products and solutions that generate I P.
 While our investments in IP have enabled us to accelerate delivery of
 services, clients have seen huge productivity and time-to-market
 improvements. Digital services covering cloud, big data, mobility and
 functional areas such as HR and Commerce are the focus areas for our
 products and solutions. Some of these are as follows : Infosys
 BigDataEdge : This solution empowers IT and business teams to quickly
 discover, analyze and act on information to drive real-time business
 decisions. It enables real-time discovery of data across both internal
 systems and external sources.
 Infosys Cloud Ecosystem Hub : This helps enterprises create, adopt and
 manage their hybrid cloud ecosystem. It helps in rapid creation,
 adoption, and governance of cloud services across the ecosystem.
 Infosys Commerce Solution : This solution drives multi-channel commerce
 by enhancing consumer experience, increasing traffic and order value.
 It enables enterprises to use social interactions to predict,
 personalize, and enhance the customers'' overall shopping experience.
 Infosys Talent Management Solution : Our talent management solution
 enables enterprises to deepen employee engagement and simplify the
 entire hire-to-retire lifecycle of the human resource function.
 Infosys mConnect : This is a multi-channel mobile middleware that is
 designed to optimize user experience across channels and platforms.
 Infosys Mobile Wallet Solution : This popular product enables the
 financial ecosystem of consumers, merchants, telecoms, banks,
 governments and enterprises to process payments.
 Finacle partners with banks to simplify banking and arm them with
 accelerated innovation to build tomorrow''s banks, today.  Our solutions
 address the core banking, e-banking, mobile banking, CRM, payments,
 treasury, origination, liquidity management, wealth management and
 Islamic banking requirements of retail, corporate and universal banks
 In 2013, Infosys was positioned as a leader in Gartner''s International
 Retail Core Banking report for the seventh time in a row for its
 Finacle® core banking solution. Finacle 11E is the latest release of
 the award-winning Finacle® universal banking solution. The solution''s
 component-based deployment offers banks extreme agility to
 progressively modernize and meet business priorities, thus helping them
 realize modernization benefits faster.
 As on March 31, 2014, Finacle® is the choice of 183 banks across 84
 countries and powers operations across 56,000 branches and enables its
 customer banks to serve over 599 million accounts and 437 million
 customers worldwide.
 We continue our journey of delivering value to our clients through
 significant investments in quality programs. While sustaining existing
 external benchmarks and certifications, we have added new
 certifications to deliver greater value to our clients'' businesses.
 Infosys is certified under various standards to meet client demands and
 enhance delivery value. Infosys Limited and Infosys BPO Limited are
 certified for ISO 22301:2012 Societal Security, Business Continuity
 Management Systems standards. As part of Infosys'' contract, the Central
 Processing Center of the Government of India''s Income Tax department
 was certified for the ISO 15489 Record Management System Standards,
 making it the first government organization in Asia to attain this
 We continue to demonstrate process excellence by adhering to various
 international quality standard certifications, including ISO 9001:2008,
 ISO 27001, ISO 20000, AS EN 9100, ISO 13485, TL 9000-SV, OHSAS 18001
 and ISO 14001. We have also received an independent auditor''s assurance
 report on compliance to ISAE 3402 / SSAE16 and a certification of
 compliance on PCIDSS V 2.0 for Infosys BPO Limited. Infosys McCamish
 Systems LLC has completed SOC 1 Type II Statement on SSAE 16. This
 certification confirms that the delivery of operations and IT services
 for Infosys McCamish''s clients is done with the highest level of
 security and controls. Apart from this, we continue to get assessed at
 CMMI level 5. According to the Process Maturity Profile published by
 the CMMI Institute of Carnegie Mellon
 University in September 2013, only 6.6% of 5,944 organizations most
 recently appraised are operating at Level 5, which is the highest level
 of CMMI assessment.
 Our Quality department handles large change management initiatives to
 drive quality and productivity improvements across the Company.  It is
 managed through the Balanced Scorecard and Infosys Scaling Outstanding
 Performance (iSOP) program adopted from the Malcolm Baldridge National
 Quality Award (MBNQA) framework.
 Our Business Value Articulation (BVA) framework ensures alignment of
 our approaches to deliver and maximize value to our clients.  Our
 Business Value Realization (BVR) program is an initiative comprising
 frameworks, methodologies, processes and systems to promote
 articulation and assurance of business value for various engagements.
 The BVA program helped us have a substantial impact on our clients.  We
 continue to fine-tune our Client Value Survey to capture the voice of
 our customers, and to assess client expectations as an ongoing process.
 The data that is collected is analyzed around satisfaction, advocacy,
 loyalty, fulfillment and value for money. This information is used to
 draw action plans to improve client experience on an ongoing basis.
 Infosys Labs
 Our research and development efforts focus on the twin goals of
 improving productivity and quality of our services, alongside working
 towards technology-driven innovation and differentiation that will
 deliver greater value to our clients.
 At Infosys Labs, service innovation is being achieved through enhanced
 automation, optimization, prevention and effective collaboration among
 distributed teams.
 Infosys Labs has established a set of service innovation groups focused
 on enhancing quality and productivity of six dominant Infosys services
 — Business Process Outsourcing; Infrastructure Management Services;
 Independent Validation Services; Application Development and
 Maintenance including Large Deals; Consulting and Systems Integration;
 and Modernization. These groups work on service platforms with a focus
 on automation, optimization, consolidation, and on enhancing the
 effectiveness of contextual collaboration for distributed teams.
 Under its Client Innovation umbrella, Infosys Labs has established six
 Centers of Excellence (CoE), namely Modernization, Advanced Analytics,
 Security and Dependability, Advanced Mobility, Experience, and
 Innovation Co-Creation. The CoEs work towards establishing
 technology-based client innovation and differentiation through the
 establishment of Client Innovation Centers, publishing focused
 technology points of view, implementing proofs of concepts driven by
 our focus on client value, and conducting client workshops.
 Additionally, we have set up innovation centers with a number of our
 clients, university partners, and industry research consortia to drive
 Infosys Labs focuses on developing significant new intellectual
 property to enhance the productivity and quality of our services while
 enabling differentiation in client offerings. During fiscal year 2014,
 Infosys Labs filed 79 unique patent applications in the United States
 Patent and Trademark Office (USPTO), the Indian Patent Office and other
 jurisdictions. On a standalone basis, our research and development
 expenses for fiscal years 2014, 2013 and 2012 were Rs. 873 crore, Rs. 907
 crore and Rs. 655 crore, respectively.
 The Infosys brand is a key intangible asset of the Company. Our brand
 promise – Building Tomorrow''s Enterprise – communicates the value we
 bring to our clients. It is the expression of how we provide insights
 on what is ahead and partner with clients to help them succeed amidst
 change. We do this by uncovering opportunities to drive new sources of
 business value through consulting and the co-creation of breakthrough
 solutions. We enable clients to sustain the advantage by delivering
 services that drive smarter, more efficient operations. It is the
 delivery of our brand promise that makes us the right technology
 partner for clients in over 30 countries. ''Powered by intellect and
 driven by values'', brand Infosys has been recognized by leading
 publications and independent industry bodies globally We are regularly
 rated by global industry analysts as a leader in key services and
 solutions across domains. Refer to the Awards and recognition section
 below for more details.
 Our marketing reach extends globally through advertisements, web
 initiatives and social media conversations. We promote our brand
 through trade and general publications. We participate in premier
 business and industry events around the world. ''Confluence'', our
 flagship client event, is consistently well-attended and highly-rated
 by our clients and industry partners.
 Awards and recognition
 In fiscal year 2014, as in the previous years, we received a number of
 awards and recognition from national and international industry bodies
 and media houses. The significant ones among them are as follows :
 Corporate governance and investor relations
 - We were voted the best in several categories, including ''Best Overall
 for Corporate Governance'' and ''Best for Investor Relations'', in
 Asiamoney''s Annual Corporate Governance Poll 2013.
 - We were ranked third globally for corporate governance practices and
 second best for IR websites in India by IR Global Rankings 2013.
 - We topped the 2013 Institutional Investor Rankings among all Indian
 companies across sectors.
 - We were honored in the 2013 Institutional Investor All Asia Rankings.
 - Our flagship banking product, Finacle®, was recognized as a ''Best in
 Class'' provider by the CEB TowerGroup Mobile Banking Solutions
 Technology Analysis report.
 Finacle® won the prestigious ''Best Core Banking Technology'' award at
 the Innovation in Technology and Transaction Banking Awards 2013,
 organized by The Banker.
 - Gartner''s International Retail Core Banking report positioned us as a
 leader for the seventh time in a row for Finacle®.
 - Infosys Public Services, Inc. was recognized by Avivia Health from
 Kaiser Permanente as a strategic partner to develop its innovative
 gamification platform to improve consumer engagement.
 - Infosys Public Services, Inc. has been named in the ''Healthcare''s
 Hottest Companies for 2013'' list by Modern Healthcare, a leading
 healthcare publication for senior decision makers.
 Application management
 - We were positioned as a leader in the Gartner Magic Quadrant for
 Oracle Applications Management Service Providers worldwide.
 - We were named a leader in Gartner''s Magic Quadrant for SAP
 Application Management Services worldwide.
 Technology innovation
 - We were positioned in the winners'' circle in HfS Enterprise Analytics
 Services Blueprint 2013, and recognized for our significant scale in
 analytics, execution excellence across service areas, and
 responsiveness to clients.
 - We won the Global Telecoms Business Innovation Award with British
 - We won the 2013 Simulating Reality contest, a global contest for
 excellence in biomedical engineering, organized by MSC Software.  The
 contest recognized Infosys for its use of next generation technologies
 for innovation in the area of engineering design.
 - We were ranked as a leader in The Forrester Wave™ – Enterprise
 Mobility Services, Q1 2013 report.
 Business process management
 - Along with our partners, British Telecom, we won the award for
 excellence in telecommunication, utilities and hi-tech outsourcing for
 2013, given by the National Outsourcing Association (NOA).
 - Infosys BPO Limited was positioned in the Leaders category in Everest
 Group''s Procurement Outsourcing Service Provider Landscape with PEAK
 Matrix Assessment.
 Business and management
 - Infosys Edge received the NASSCOM Business Innovation Award 2013.
 - We received the Platinum Award at the Asset Excellence in Management
 and Corporate Awards 2013.
 - Infosys China was recognized among the ''Top 10 Global Services
 Providers'' of 2013 in China at the fifth Annual China Sourcing Summit.
 - We were recognized by IBM as Smarter Commerce Business Partner of the
 Year for Australia and New Zealand.
 - We were ranked No. 1 among the best managed companies in Asia Pacific
 for 2013 in the annual Euromoney ''Best Managed Companies in Asia''
 Corporate learning and talent development
 - We won the prestigious Global Most Admired Knowledge Enterprise
 (MAKE) Award 2013 for the ninth successive time. We have won the Asian
 MAKE Award 11 times in a row.
 - We received CorpU''s Learning Excellence and Innovation Award 2013 for
 our ''Connect Architecture'' program.
 - InStep, our global internship program, won the National Council for
 Work Experience (NCWE) Award.
 Sustainability awards
 Our sustainability efforts won us several awards and accolades in
 fiscal year 2014 :
 - We won the 2013 Ian Kiernan Award for Corporate Social Responsibility
 given by the Australian Human Resources Institute.  The award
 recognizes us for our success in enhancing our corporate social
 responsibility program and becoming more inclusive and meaningful for
 our staff, beneficiaries and the Australian community
 - We were adjudged the runners up at the Green IT Awards 2013 in three
 categories — Sustainable Design Project of the Year, Team of the Year,
 and Green IT Magazine Company of the Year.
 - We won the Federation of Indian Chambers of Commerce and Industry
 (FICCI) Business Responsibility Award 2013 in the ''Best Green building''
 category for the Software Development Block-1 building in our Hyderabad
 - The GreenCo Summit by Confederation of Indian Industry (CII)
 recognized our outstanding contribution to the Indian Green Building
 Council initiatives in 2013.
 - The Bangalore Chamber of Industry and Commerce honored us for our
 adoption of best practices in effective management of solid waste in
 the field of ''Innovation in knowledge sharing on Solid Waste
 - We won the CII National Award, 2013 for Excellence in Energy
 Management in two categories — Innovative Project and Energy Efficient
 - We won the award for ''Corporate Sustainability Stewardship'' at the
 2013 Parivartan Sustainability Leadership Awards.
 - We were given the ''Excellence Award'' for the Retrofit Category -
 Metropolitan City at the Emerson Cup Awards 2013.
 - We received a commendation certificate for Significant Achievement at
 the CII-ITC Sustainability Awards 2013.
 - We won the first prize in the buildings category at the National
 Energy Conservation Awards, 2013.
 - We were named a ''2013 Environmental Tracking (ET) Carbon Ranking
 Leader'' for our disclosure practices and for achieving significant
 reduction in greenhouse gas emissions.
 3.  Human resources management
 We firmly believe that employee motivation, development, and engagement
 are key aspects of good human resources management.  We provide several
 forums and communication channels for our employees to not only share
 their points of view and feedback related to our business, but also
 share feedback on self-development and career advancement. These forums
 have helped us identify and implement a number of structural changes
 during the year. These included compensation revision across the
 organization, streamlining of compensation structure, quarterly cycles
 of promotion and progression, and rotation of onsite assignments.
 Providing opportunities for employees to interact with senior
 management through innovative interventions such as ''Just-a-Minute''
 (JAM) with the Management, town hall events across campuses and
 priority mailers notifying employees about every organizational change
 and development are a few of the measures taken to boost communication
 with employees. Rewarding and recognizing consistent superior
 performance is essential to build a stronger Infosys. This year, we
 introduced the ''Fast Track'' program, which is designed exclusively to
 identify high performers and provide them challenging opportunities to
 grow faster within the organization.
 We have set up a scalable recruitment and human resources management
 process. Over the last year, we received 9,11,220 applications from
 prospective employees. We added 24,517 (gross) and 801 (net) employees
 this year, taking our total strength to 1,27,198 from 1,26,397 at the
 end of the previous year for Infosys Limited. The Infosys Group added
 3,717 (net) and 39,985 (gross) employees this year, taking the total
 strength to 1,60,405 from 1,56,688 at the end of the previous year.
 The attrition rate stands at 18.7% compared to 16.3% for the previous
 year for Infosys Limited.
 Talent fulfillment
 During the year, a new function has been established for identifying
 talent required for new opportunities and recruiting based on
 competence and performance. Focused training and creating a flexible
 system for timely placement of the best-fit talent within projects are
 the main goals of this initiative, which aims ultimately to build a
 robust supply chain that will yield dividends in the years to come.
 Particulars of employees
 The table containing the names and other particulars of employees in
 accordance with the provisions of Section 217 (2A) of the Companies
 Act, 1956, read with the Companies (Particulars of Employees) Rules,
 1975, is annexed to this report.
 Education, Training and Assessment
 Competency development continues to be a key area of strategic focus
 for us. During fiscal year 2014, the total training provided for
 Infoscions was over 2.13 million person days. Many of our employees
 also took external certifications, creating a large pool of certified
 Our flagship industry-academia partnership program, Campus Connect,
 made significant progress through the launch of electives to help
 engineering colleges run new programs within their curricula.  During
 fiscal year 2014, we engaged with 1,476 faculty members who in turn
 trained over 41,000 students. With this, the total number of
 beneficiaries covered has reached over 10,400 faculty members and over
 2,92,000 students from 372 engineering institutions.
 SPARK is an academia connect program that exposes students in schools
 and colleges to the current opportunities and developments in IT and
 aims to inspire them and raise their aspirations. As part of this
 program, we engaged with over 36,000 students during the year. Since
 its launch in 2008, the program has reached over 8,78,000 students.
 Over 65,000 students participated in Aspirations2020 in fiscal year
 2014, the coding contest we conduct for engineering students.
 Our knowledge management system set a new record by winning the Global
 Most Acknowledged Knowledge Enterprise (MAKE) award for the ninth time,
 the Asian MAKE Award for the 11th time and the Indian MAKE Award for
 the ninth time.
 Infosys Limited is a proud winner in the American Society for Training
 and Development''s (ASTD) 2013 Best Awards program. We were among 28
 organizations from five countries (Canada, India, Taiwan, Turkey and
 the U.S.) to receive the 2013 Best Award. As in previous years, our
 researchers continued to demonstrate their thought leadership through
 their publications / presentations at global conferences and
 contributions to books and journals.
 Infosys Leadership Institute
 Our vision for the Infosys Leadership Institute (ILI) is to be a
 globally recognized institute that promotes and advances the field of
 leadership development. Over the years, ILI has created several
 proprietary methodologies, actionable development programs and
 interventions for leadership development that have been benchmarked
 with the best. ILI works towards executing business strategies and
 ensuring that Infosys has ready leaders to take on senior leadership
 4.  Corporate governance
 We continue to benchmark our corporate governance policies with the
 best in the world. Our efforts are widely recognized by investors in
 India and overseas. We have undergone the corporate governance audit by
 ICRA and Credit Rating Information Services of India Limited (CRISIL).
 ICRA has rated our corporate governance practices at CGR 1 and CRISIL
 has assigned CRISIL GVC Level 1 rating to us.
 We comply with the recommendations of the Narayana Murthy Committee on
 Corporate Governance constituted by the Securities and Exchange Board
 of India (SEBI) in 2002. Our Corporate Governance Report for the fiscal
 year 2014 forms part of this Annual Report.
 We have documented our internal policies on corporate governance.
 During the year, we continued to comply with the U.S. Sarbanes-Oxley
 Act, 2002. Several aspects of the Act, such as the Whistleblower Policy
 and Code of Conduct and Ethics, have been incorporated in our policy.
 Board of Directors Inductions
 On June 1, 2013, the Board appointed Narayana Murthy as Executive
 Chairman of the Board. K. V. Kamath stepped down as Chairman of the
 Board to take up the position of Lead Independent Director. We thank
 the shareholders for their support in confirming Narayana Murthy''s
 appointment at the AGM on June 15, 2013.
 The Board also re-designated S. Gopalakrishnan as the Executive Vice
 Chairman of the Board, while S. D. Shibulal continued as the Chief
 Executive Officer and Managing Director (CEO and MD).  On December 20,
 2013, the nominations and governance committee recommended the
 induction of U. B. Pravin Rao as a whole-time director and Kiran
 Mazumdar-Shaw as an independent member of the Board.  U. B. Pravin Rao
 has been with Infosys Limited since 1986. He has been the Senior Vice
 President and Global Head of Retail, Consumer Packaged Goods, Logistics
 and Life Sciences, as well as a member of the Board of Lodestone
 Holding AG, and heads the ILI. Kiran Mazumdar-Shaw is a globally
 recognized corporate leader and the Chairman and Managing Director of
 Biocon Limited. She has been named among TIME magazine''s 100 most
 influential people in the world.
 On April 15, 2014, the nominations and governance committee recommended
 the induction of Carol M. Browner to the Board.  Carol M. Browner is an
 expert in environmental policy and law and has served as Director of
 the White House Office of Energy and Climate Change Policy under the
 Obama administration and before that, in the Environmental Protection
 Agency under the Clinton administration.  We seek your support in
 confirming the appointments of U. B. Pravin Rao, Kiran Mazumdar-Shaw
 and Carol M. Browner.
 As per the provisions of the Companies Act, 2013, B. G. Srinivas and S.
 Gopalakrishnan will retire in the ensuing AGM and being eligible, seek
 re-appointment. The Board of Directors recommend their re-appointment.
 The Companies Act, 2013 provides for appointment of independent
 directors. Sub-section (10) of Section 149 of the Companies Act, 2013
 (effective April 1, 2014) provides that independent directors shall
 hold office for a term of up to five consecutive years on the Board of
 a company; and shall be eligible for re-appointment on passing a
 special resolution by the shareholders of the company.
 Sub-section (11) states that no independent director shall be eligible
 for more than two consecutive terms of five years. Sub-section (13)
 states that the provisions of retirement by rotation as defined in
 sub-sections (6) and (7) of Section 152 of the Act shall not apply to
 such independent directors.
 Our non-executive (independent) directors (except for Kiran
 Mazumdar-Shaw and Carol M. Browner) were appointed as directors liable
 to retire by rotation under the provisions of the erstwhile Companies
 Act, 1956. The Board of Directors has been advised that non-executive
 (independent) directors so appointed would continue to serve the term
 that was ascertained at the time of appointment as per the resolution
 pursuant to which they were appointed. Therefore, it stands to reason
 that only those non-executive (independent) directors who will complete
 their present term at the ensuing AGM of the Company in June 2014,
 being eligible and seeking re-appointment, be considered by the
 shareholders for re-appointment for a term of up to five consecutive
 Non-executive (independent) directors who do not complete their term at
 the ensuing AGM, will continue to hold office till the expiry of their
 term (based on retirement period calculation) and thereafter would be
 eligible for re-appointment for a fixed term in accordance with the
 Companies Act, 2013.
 CEO succession
 The nominations and governance committee has begun the search to select
 the successor to S. D. Shibulal, CEO and MD, who has expressed his
 desire to retire as the CEO and MD of the Company and as a member of
 the Board either on the date of the last Board meeting before his
 superannuation — January 9, 2015, or when his successor is ready to
 assume office, whichever is earlier. The nominations and governance
 committee is open to evaluating internal and external candidates based
 on merit. It has appointed Development Dimensions International, a
 company specializing in internal corporate executive evaluations and
 Egon Zehnder, an executive search firm, to assist in identifying
 internal and external candidates respectively.
 Retirements and resignations
 Leo Puri stepped down as independent member of the Board, with effect
 from August 14, 2013. This is pursuant to his appointment as Managing
 Director of UTI Asset Management Co. Ltd. The Board places on record
 its appreciation for the services rendered by Leo Puri to the Board and
 the Company.
 Ashok Vemuri, Member of the Board, resigned from the services of the
 Company effective September 12, 2013. The Board would like to thank and
 record its appreciation for his contribution in building the Company''s
 market leadership in the Financial Services, Manufacturing verticals
 and in North America.
 In accordance with the retirement policy for the Company''s Board of
 Directors (attainment of 65 years of age for independent directors
 appointed to the Board prior to October 15, 2010), Deepak M.
 Satwalekar, Independent Director, retired from the Board effective
 November 13, 2013. Deepak M. Satwalekar had joined the Board in October
 1997 and the Board would like to thank him for his long and fruitful
 association with the Company.
 V. Balakrishnan resigned from the services of the Company, effective
 December 31, 2013. V. Balakrishnan had been part of the Infosys journey
 for 22 years, and the Board conveys its deep sense of appreciation for
 the services rendered by him during his tenure as the Chief Financial
 Officer, and then as the Member of the Board in charge of Infosys BPO
 Limited, Lodestone Holding AG, Finacle, India Business Unit and Global
 David L. Boyles retired from the Board effective January 17, 2014.
 David L. Boyles had joined the Board in July 2005 and played an
 important role, especially in strengthening the Company''s Risk
 Management framework. The Board thanks him for his insights that have
 helped the Company immensely.
 Directors'' responsibility statement as required under Section 217 (2AA)
 of the Companies Act, 1956
 The financial statements are prepared in accordance with the Indian
 Generally Accepted Accounting Principles (GAAP) under the historical
 cost convention on the accrual basis except for certain financial
 instruments, which are measured at fair values. GAAP comprises
 mandatory accounting standards as prescribed by the Companies
 (Accounting Standards) Rules, 2006, the provisions of the Companies
 Act, 2013 (to the extent notified), the Companies Act, 1956 (to the
 extent applicable), and guidelines issued by SEBI. There are no
 material departures from prescribed accounting standards in the
 adoption of these standards.
 The Board of Directors accepts responsibility for the integrity and
 objectivity of these financial statements. The accounting policies used
 in the preparation of financial statements have been consistently
 applied except as otherwise stated in the notes accompanying the
 respective tables. The estimates and judgments related to the financial
 statements have been made on a prudent and reasonable basis, so 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.
 The Board of Directors has taken sufficient care to maintain adequate
 accounting records in accordance with the provisions of the Companies
 Act, 1956 (to the extent applicable) and the Companies Act, 2013 (to
 the extent notified), to safeguard the assets of the Company and to
 prevent and detect fraud and other irregularities.
 5.  Auditors
 The auditors, B S R & Co. LLP, Chartered Accountants, retire at the
 ensuing AGM and have confirmed their eligibility and willingness to
 accept office, if re-appointed.
 6.  Civil settlements
 During the year, the Company completed a civil settlement with the U.S.
 Department of State, Immigrations and Customs Enforcement and the U.S.
 Department of Homeland Security relating to I-9 paperwork errors and
 visa matters that were the subject of investigation by the U.S.
 Attorney''s Office for the Eastern District of Texas. In the settlement,
 Infosys agreed to pay Rs. 213 crore (US  million) to resolve all
 allegations. The Company categorically denied claims of systemic visa
 fraud, misuse of visas for competitive advantage or immigration abuse,
 and the U.S. Government acknowledged the Company''s commitment to
 compliance with the immigration laws through its current visa and I-9
 practices. No criminal charges or court rulings were brought against
 the Company. Nor have any limitations been imposed on the Company''s
 eligibility for federal contracts or access to U.S. visa programs. The
 Company continues to adhere to all laws, rules and regulations wherever
 it operates, and take compliance obligations seriously. The Board is
 happy that the settlement removes the uncertainty of litigation and
 allows the Company to continue to focus on delivering measurable
 results for clients.
 7.  Corporate social responsibility
 Over the years, we have been striving to achieve a fine balance of
 economic, environmental and social imperatives, while also paying
 attention to the needs and expectations of our internal as well as
 external stakeholders. Our corporate social responsibility is not
 limited to philanthropy, but encompasses holistic community
 development, institution building and sustainability-related
 As per the Companies Act, 2013, all companies having net worth of Rs.500
 crore or more, or turnover of Rs. 1,000 crore or more or a net profit of
 Rs.5 crore or more during any financial year will be required to
 constitute a corporate social responsibility (CSR) committee of the
 Board of Directors comprising three or more directors, at least one of
 whom will be an independent director.
 Aligning with the guidelines, we have constituted a committee
 comprising K. V Kamath (Chairperson), R. Seshasayee, Kiran
 Mazumdar-Shaw and S. D. Shibulal. The committee is responsible for
 formulating and monitoring the CSR policy of the Company The committee
 has adopted a policy that intends to :
 - Strive for economic development that positively impacts the society
 at large with a minimal resource footprint.
 - Be responsible for the corporation''s actions and encourage a positive
 impact through its activities on the environment, communities and
 CSR activities, as per the provisions of the Companies Act, 2013, can
 be undertaken by the Company through a registered trust or a registered
 society In 1996, Infosys set up the Infosys Foundation (''the
 Foundation'') as a not-for-profit trust. The Foundation will work
 closely with and support the Board and the committee in our CSR
 activities.  The Foundation will assist the committee in identifying
 the areas of CSR activities, programs and execution of initiatives as
 per predefined guidelines. The Foundation will also assist the Board
 and the committee in reporting progress of deployed initiatives and in
 making appropriate disclosures (internal / external) on a periodic
 Infosys Foundation
 Infosys Foundation was established in 1996 as a not-for-profit trust
 through which we could channelize our social welfare initiatives.  Over
 the years, the Foundation has initiated, guided and conducted several
 programs in education, healthcare, disaster relief and rural
 development, and has been successful in bringing about a positive
 change in the lives of the underprivileged sections of society.  The
 Foundation has also been a major patron of the arts and has supported
 several endangered art forms.
 In fiscal year 2014, the Foundation''s work spanned a wide range of
 development areas, including offering scholarships to disadvantaged
 students, funding school buildings and libraries, aiding drinking water
 projects in remote villages and rehabilitating street children and
 devadasis (a marginalized community in South India). The Foundation
 received Rs.9 crore as grant from Infosys Limited in fiscal year 2014.  A
 more detailed report on the Foundation''s activities during fiscal year
 2014 forms part of our Sustainability Report, available on our website,
 We would like to thank the honorary trustees of the Foundation, who
 continue to devote their valuable time and energy to planning,
 directing and monitoring its activities.
 The Association for Computing Machinery - Infosys Foundation Award
 The Association for Computing Machinery – Infosys Foundation Award in
 Computing Sciences was established in August 2007.  ACM (
 is the world''s largest educational and scientific computing society,
 uniting computing educators, researchers and professionals. The Infosys
 Foundation made an endowment to institute this award, which carries a
 prize of US 5,000.
 David Blei, Associate Professor in the Department of Computer Science
 at Princeton University, is the recipient of the 2013 ACM-Infosys
 Foundation Award in Computing Sciences. Prof. Blei initiated an
 approach to analyzing large collections of data using innovative
 statistical methods, known as ''topic modeling'', that make it possible
 to organize and summarize digital archives on a scale that would be
 impossible through human annotation.
 Sustainability initiatives
 Our sustainability charter is driven by our core values and ethics.
 Our sustainability actions are streamlined on the three themes — Social
 contract, Resource intensity and Green innovation. The highlights of
 our initiatives on the three themes are as follows :
 Social contract
 - Fostering innovation in the societies where we operate is important
 to inspire and celebrate innovators and their innovations.  We
 partnered with TV18, a leading provider of business news on Indian
 television, to present Innovating for a Better Tomorrow, a unique
 tele-series that showcased 14 exemplary innovations that have not only
 transformed the lives of millions of Indians but have made indelible
 impressions globally.
 - Our unique initiative, Health Assessment and Lifestyle Enrichment
 (HALE) received the silver recognition at the ''Express IT Awards'' 2013.
 The Infosys Foundation supported the construction of Isha Vidyalaya
 School in Tamil Nadu and KIMS Hospital in Hubli, Karnataka, during
 fiscal year 2014.
 - We launched a policy advocacy statement last fiscal year to influence
 positive and affirmative sustainability actions across the globe.
 Resource intensity
 - We have set up robust processes to manage greenhouse gases (GHG)
 effectively. Through constant monitoring and rigorous sustainability
 practices, we have been able to reduce the Scope 1 and Scope 2
 emissions by 59.3% as compared to fiscal year 2008.
 Note: Scope 1 covers fuel, hydrochloroflurocarbons, SF6 and emissions
 from company-owned vehicles and Scope 2 covers electricity.
 - We achieved a reduction by 43.6% in our per capita electricity
 consumption as compared to fiscal year 2008.
 - We were able to reduce our water intensity by 34.5% as compared to
 fiscal year 2008.
 - We used 75.6 million units of electricity from renewable sources in
 fiscal year 2014.
 10.1 MW in connected load was reduced through retrofits over the last
 three years.
 - As of fiscal year 2014, 3.4 million sq. ft. of our built-up area has
 received the highest level of green building rating.
 - We installed 2MW of solar photovoltaic plants at our campuses between
 2012 and 2014.
 Green innovation
 - We deployed a Dynamic Storage Tier technology which helped us limit
 storage infrastructure, accompanying data center power and cooling
 requirements while increasing the capacity. In addition, it helped
 improve our enterprise storage performance by 95% with cost savings and
 performance improvements.
 - Our research labs, Infosys Labs, developed the Infosys Electronic
 Signature Solution (iESS) that enables easy and seamless integration of
 digital signature support into enterprise approval workflows replacing
 the need for manual signatures. This has not only reduced paper usage
 for some of our government and banking clients, but has also enhanced
 security and regulatory compliance.
 - We also revisited our model of handling customer-loaned assets
 constituting equipment to the tune of US .5 billion, which
 traditionally had to be shipped back at the end of project closure.  By
 liaising with the government for necessary policy changes and building
 internal processes and checks, we were able to change the utilization
 drastically. The cost of shipping the assets back was eliminated for
 the client, and our ability to scale infrastructure was improved. We
 were able to enhance our loaned asset reconciliation for disposal as
 e-waste, and achieve reduction in energy and fuel expenditure.
 - Our investments on research on Internet of Things (IoT), along with
 COMMIT, a public-private research community, has helped in creating
 wearable technology that can potentially be used in areas such as
 assisted living, remote monitoring of the elderly and monitoring safety
 of personnel working in hazardous environments.
 A detailed report on our sustainability initiatives and actions is
 available on our website,
 Conservation of energy, research and development, technology
 absorption, foreign exchange earnings and outgo
 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
 annexed to this report.
 Business Responsibility Report
 SEBI, vide its circular CIR/CFD/DIL/8/2012 dated August 13, 2012,
 mandated inclusion of the Business Responsibility Report (BRR) as part
 of the Annual Report for listed entities. In compliance with the said
 circular, we have provided the BRR and the same forms part of this
 Annual Report.
 We also publish the Infosys Sustainability Report annually. Our report
 follows the Global Reporting Initiative (GRI) framework. This is a
 comprehensive report that covers all aspects of our sustainability
 activities divided into the three focus areas — Social contract,
 Resource intensity and Green innovation. The report is audited by an
 external auditor, Det Norske Veritas Germanischer Lloyd (DNV GL).
 Green initiatives
 During fiscal year 2011, we started a sustainability initiative with
 the aim of going green and minimizing our impact on the environment.
 Like the previous years, this year too, we are publishing only the
 statutory disclosures in the print version of the Annual Report.
 Additional information is available on our website,
 Electronic copies of the Annual Report 2014 and Notice of the 33rd AGM
 are sent to all members whose email addresses are registered with the
 Company / Depository Participant(s). For members who have not
 registered their email addresses, physical copies of the Annual Report
 2014 and the Notice of the 33rd AGM are sent in the permitted mode.
 Members requiring physical copies can send a request to the Company
 The Company is providing e-voting facility to all members to enable
 them to cast their votes electronically on all resolutions set forth in
 the Notice. This is pursuant to section 108 of the Companies Act, 2013
 and Rule 20 of the Companies (Management and Administration) Rules,
 2014. The instructions for e-voting is provided in the Notice.
 Infosys Science Foundation
 The Infosys Science Foundation (ISF), a not-for-profit trust, was set
 up in 2009 by Infosys, its Founders and a few of its management
 personnel to promote research in the sciences. The ISF celebrated its
 fifth anniversary this year. The Infosys Prize, instituted by the ISF,
 recognizes exemplary research by scholars and scientists connected to
 India. It hopes to inspire young Indians to choose a vocation in
 scientific research.
 The prize categories and the names of the winners for 2013 in each
 category are as follows :
 Category         Subjects                     2013 Winners
 Engineering and 
 Computer Science All branches of Engineering  Dr. V Ramgopal Rao
 Humanities       Archaeology, History, 
                  Philosophy, Legal Theory     Prof. Nayanjot Lahiri
                  and Literary Studies         Prof. Ayesha Kidwai
 Life Sciences    Biology, Medicine and Plant 
                  Science                      Dr. Rajesh Gokhale
 Sciences         Mathematics and Statistics   Prof. Rahul Pandharipande
 Sciences         Earth Sciences, Physics 
                  and Chemistry                Prof. Shiraz Naval 
 Social Sciences  Anthropology, Economics, 
                  Political Science,           Prof. Aninhalli R. 
                  Psychology and Sociology
 The Infosys Prize 2013 presentation was held in Bangalore on February
 8, 2014. Kofi A. Annan, former Secretary-General of the United Nations
 (1997-2006), felicitated the laureates with a 22-karat gold medallion
 and a citation each and a prize purse of Rs.55 lakh per category (the
 prize money was increased from Rs.50 lakh to Rs.55 lakh this year). Kofi
 Annan released a book, Encouraging the Spirit of Research, compiled by
 the ISF to commemorate the five-year milestone and celebrate the work
 of 31 laureates. The simple language and the graphic story concept used
 in the book are intended to help students and non-academic people
 understand and access groundbreaking and seminal research.
 ISF also hosts lectures by its laureates and jury members to spread
 awareness about the interesting research they are working on. They also
 host school events and contests to capture the attention and
 imagination of the youth. For more details, visit
 We thank our customers, vendors, investors and bankers for their
 continued support during the year. We place on record our appreciation
 of the contribution made by our employees at all levels. Our consistent
 growth was made possible by their hard work, solidarity, cooperation
 and support.
 We thank the governments of various countries where we have our
 operations. We also thank the Government of India, particularly the
 Ministry of Communication and Information Technology, the Ministry of
 Commerce, the Ministry of Finance, the Ministry of Corporate Affairs,
 the Customs and Excise Departments, the Income Tax Department, the
 Reserve Bank of India, the State Governments, the Software Technology
 Parks (STPs) / Special Economic Zones (SEZs) – Bangalore, Bhubaneswar,
 Chandigarh, Chennai, Gurgaon, Hyderabad, Indore, Jaipur, Mangalore,
 Mysore, Nagpur, Pune, and Thiruvananthapuram and other government
 agencies for their support, and look forward to their continued support
 in the future.
                     for and on behalf of the Board of Directors
                 S. Gopalakrishnan                S. D. Shibulal
 Bangalore       Executive Vice 
                 Chairman            Chief Executive Officer and
 April 15, 2014  of the Board                  Managing Director
Source : Dion Global Solutions Limited
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