FINANCIAL STATEMENT ANALYSIS OF

INFOSYS LIMITED.

A PROJECT REPORT

SUBMITTED TO THE FACULITY OF COMMERCE FOR

THE PARTIAL FULFILLMENT OF THE

REQUIREMENT FOR THE DEGREE OF

BACHELOR OF COMMERCE

OF

HIMACHAL PRADESH UNIVERSITY

SUBMITTED BY: - SHIVAM

UNIVERSITY NO: - 3113MN01170002

UNDER THE SUPERVISION OF Dr. RAKESH KAPOOR

DEPARTMENT OF COMMERCE

VALLABH GOVERNMENT COLLEGE MANDI

HIMACHAL PRADESH

MAY, 2016
 CERTIFICATE

This is to certify that Shivam student of VALLABH GOVT. COLLAGE has completed

their project on the topic of “Financial Statement Analysis of Infosys Limited. “Under the

supervision and guidance of Assistant Prof. Rakesh Kapoor Vallabh Govt. College.

To best of our knowledge the report is original and has not been copied or

submitted anywhere else. It is an independent work done by them.

 ACKNOWLEDGEMENT

When I embarked this project, it appeared to me as onerous task. Slowly as I

progressed I did realized that I was not alone after all.

I wish to express my gratitude to Dr. Ashok Awasthi, Principal, VALLABH

GOVT. COLLAGE, Faculty Member of commerce Department, who have
extended their kind help, guidance and suggestion without which it could not have
been possible for me to complete this project report.

I am deeply indebted to my guide (………………) for not only their valuable and
enlightened, guidance but also for the freedom they rendered us during this project
work.

Our hearts goes out to our parents who bear with us all the trouble we caused then
with smile during the entire study period and beyond.
 PREFACE

Financial Statements are a picture of a company’s financial health for a given period of
time at a given point in time. The statements provide a collection of data about a
company’s financial performance, its current conditions and its cash flow. There are four
sections to a company’s package of financial statements. 
The balance sheet is usually presented first. This is a list of the company’s assets,
liabilities and equity ownership. The account balances are as of the date listed on the
financial statements.
The income statement is next, and is a tally of the company’s operational performance for
the given period. The period is stated at the top of the income statement, and most often,
is for a full year. However, publicly traded companies must produce financial statements
quarterly and file them with the Security and Exchange Commission.
Next is the statement of cash flows. This statement lists the various changes to the cash
account during the accounting period.  It also reconciles net income or loss to changes
in cash. 
The final section of the financial statements is the explanatory notes. These notes provide
more detail about various line items in the financial statements, such as inventory
methods used, contingent liabilities and owner’s equity. 
 TABLE OF CONTENTS

CHAPTERS TOPIC PAGES

1. INTRODUCTION
1.1 FINANCIAL STATEMENT 1-3
1.2 MEANING AND CONCEPT OF FINANCIAL
ANALYSIS
1.3 TOOLS AND TECHNIQUES AVAILABLE
FOR FINANCIAL ANALYSIS

2. COMPANY’S PROFILE 4-5

2.1 INFOSYS

3. RESEARCH METHODOLOGY 6
3.1 OBJECTIVE OF THE STUDY
3.2 LIMITATION OF THE STUDY

4. FINANCIAL STATEMENT OF INFOSYS.

4.1 PROFIT AND LOSS ACCOUNT
4.2 COMPARATIVE PROFIT AND LOSS
ACCOUNT 7-19
4.3 BALANCE SHEET
4.4 COMPARATIVE BALANCE SHEET
4.5 COMMON SIZE BALANCE SHEET
4.6 CASH FLOW STATEMENT
4.7 COMPARATIVE CASH FLOW STATEMENT
5. PERFORMANCE ANALYSIS OF INFOSYS
THROUGH VARIOUS RATIOS 20-32
5.1 ANALYSIS OF SHORT TERM AND LONG
TERM FINANCIAL POSITION OF HERO
MOTOCORP LIMITED.

6. OBSERVATIONS AND CONCLUSIONS

6.1 SHORT TERM OBSERVATIONS AND 33-34
CONCLUSIONS
6.2 LONG TERM OBSERVATIONS AND
CONCLUSIONS

7. BIBLIOGRAPHY 35
CHAPTER-1
INTRODUCTION
 1. FINANCIAL STATEMENT

Financial statements are a collection of reports about an organization's financial results, financial
condition, and cash flows. They are useful for the following reasons:

 To determine the ability of a business to generate cash, and the sources and uses of that cash.
 To determine whether a business has the capability to pay back its debts.
 To track financial results on a trend line to spot any looming profitability issues.
 To derive financial ratios from the statements that can indicate the condition of the business.
 To investigate the details of certain business transactions, as outlined in the disclosures that
accompany the statements.

Usually financial statements refer to the balance sheet, income statement, statement of cash
flows, statement of retained earnings, and statement of stockholders' equity. The balance sheet
reports information as of a date (a point in time). The income statement, statement of cash flows,
statement of retained earnings, and the statement of stockholders' equity report information for a
period of time (or time interval) such as a year, quarter, or month.

Tools and Techniques of Financial Statement

Analysis:
Following are the most important tools and techniques of financial statement analysis:

1. Horizontal and Vertical Analysis

2. Ratios Analysis
3. Trend analysis

1. Horizontal and Vertical Analysis:

Horizontal Analysis or Trend Analysis:
Comparison of two or more year's financial data is known as horizontal analysis, or trend
analysis. Horizontal analysis is facilitated by showing changes between years in both dollar
and percentage form.

Vertical Analysis:
Vertical analysis is the procedure of preparing and presenting common size
statements. Common size statement is one that shows the items appearing on it in
percentage form as well as in dollar form.
2. Ratios Analysis:
The ratios analysis is the most powerful tool of financial statement analysis.Ratios simply
means one number expressed in terms of another. A ratio is a statistical yardstick by means
of which relationship between two or various figures can be compared or measured. Ratios
can be found out by dividing one number by another number. Ratios show how one number
is related to another.

4. Trend Analysis:
Trend Analysis is used to reveal the trend of items with the passage of time and is
generally used as a statistical tool. Trend Analysis is used in conjunction with ratio
analysis, horizontal and vertical analysis to spot a particular trend, explore the causes of
the same and if required prepare future projections.
CHAPTER – 2
COMPANY’S PROFILE
 snapshot
Date of Establishment 02-07 1981
Revenue 8012.26 ( USD in Millions )
Market Cap 2778728.807274 ( Rs. in Millions )
Corporate Address Plot No. 44 & 97 A,Hosur Road,Electronics CityBengaluru-
560100, Karnataka
www.infosys.com
Management Details Chairperson - R Seshasayee 
MD - Vishal Sikka
Directors - Roopa Kudva, UB Pravin Rao
Business Operation IT - Software
Background Infosys Limited (NASDAQ: INFY) was started in 1981 by seven
people with $250. Today, we are a global leader in the 'next
generation' of IT and consulting with revenues of $6.35 billion
(LTM Q1-FY12). Infosys defines, designs and delivers
technology-enabled business solutions that help Global 2000
companies win in a Flat World. Infosys also provides a
complete range of services by leveraging t
Financials Total Income - Rs. 570370 Million ( year ending Mar 2016) 
Net Profit - Rs. 157860 Million ( year ending Mar 2016)
Company Secretary A G S Manikantha
Bankers DBS Bank, Deutsche Bank, HDFC Bank, ICICI Bank, IDBI
Bank, Punjab National Bank, State Bank of Hyderabad, State
Bank of India, State Bank of Mysore, Syndicate Bank, Union
Bank of India, ING Vysya Bank, Vijaya Bank, Canara Bank,
Corporation Bank, Bank of Baroda, Bank of Nova Scotia, Axis
Bank, Bank of India, Bank of Maharashtra, Andhra Bank, Bank
of America, HSBC Bank, Citi Bank, Barclays Bank
Auditors BSR & Co LLP

History
Infosys Limited (NASDAQ: INFY) was started in 1981 by seven people with $250. Today, we are a global
leader in the 'next generation' of IT and consulting with revenues of $6.35 billion (LTM Q1-FY12). Infosys
defines, designs and delivers technology-enabled business solutions that help Global 2000 companies
win in a Flat World. Infosys also provides a complete range of services by leveraging their domain and
business expertise and strategic alliances with leading technology providers.

Infosys' offerings span business and technology consulting, application services, systems integration,
product engineering, custom software development, maintenance, re-engineering, independent testing
and validation services, IT infrastructure services and business process outsourcing. Infosys pioneered
the Global Delivery Model (GDM), which emerged as a disruptive force in the industry leading to the rise
of offshore outsourcing. The GDM is based on the principle of taking work to the location where the best
talent is available, where it makes the best economic sense, with the least amount of acceptable risk.

Infosys takes pride in building strategic long-term client relationships. Over 97% of their revenues come
from existing customers.Infosys has global presence through its 50 offices and development centers
spread across India, China, Australia, the Czech Republic, Poland, the UK, Canada and Japan.  Infosys
and its subsidiaries have 133,560 employees as on June 30, 2011. Infosys’s Finacle is Universal banking
solution that caters to core banking, e-banking, Islamic banking, treasury, wealth management and CRM
requirements of retail, corporate and global banks. It is used by over 106 banks across
61countries,namely UK US, China, Taiwan, Hong Kong, India, Zimbabwe, Saudi Arabia, Maldives,
Nepal,  etc

Software Engineering & Technology Labs (SETLabs) is the research arm of Infosys. it is at the forefront of
anticipating and shaping the evolution of technology and its impact on business. Infosys SETLabs
undertakes targeted R&D to address your business problems. Our researchers are engaged in cutting-
edge research to share insights with clients. We focus on research areas such as Malleable Architecture,
Pervasive Access, Flexible Processes and Personalized Information. These areas constitute the
fundamental business technology components of a progressive, information-centered enterprise.

Products and Services offered by the company:

IT Services

 Application Services
 Architecture Services
 Enterprise Quality Services
 Independent Validation Services
 Information Management Services
 Infrastructure Services
 Packaged Application Services
 SOA Services
 Systems Integration Services

Engineering Services

 Product Engineering
 Manufacturing Process and Plant Solutions
 Lifecycle Management
 Consulting Services
 Information & Technology Strategies
 Product Innovation
 Next Generation Commerce
 Core Process Excellence
 Learning & Complex Change

BPO Services

 Business Platforms
 Customer Service Outsourcing
 Finance and Accounting
 Human Resource Outsourcing
 Knowledge Services
  Legal Services
 Order Management
 Sourcing and Procurement Outsourcing

Product and Platforms

 Collaborative Analytics
 Finacle
 Infosys ActiveDesk
 Infosys mConnect
 Infosys Unified Communications and Collaboration (UC)

Subsidiaries of the company:

 Infosys BPO
 Infosys Consulting
 Infosys Australia
 Infosys China
 Infosys Mexico

Key executive

S.No Name Designation

1 R Seshasayee Chairman

2 Vishal Sikka Managing Director

5 A G S Manikantha Company Secretary

4 Roopa Kudva Non Executive Director

Whole Time Director

3 UB Pravin Rao

Competitor
Sales Current Change Market 52-Week
Company P/E Ratio
(Rs.Million) Price (%) Cap.(Rs.Million) High/Low

TCS 858638.50 2546.10 -0.17 21.96 5025477.94 2769/2119

Infosys 539830.00 1213.85 0.34 17.60 2778728.81 1268/933

Wipro 412098.00 542.00 0.57 16.44 1331549.49 613/509

HCL Tech. 171534.40 737.45 -0.65 16.97 1046988.24 1048/707

Tech Mahindra 191627.00 485.10 0.32 16.64 469238.31 669/408

CHAPTER-3
 RESEARCH
METHODOLOGY
.
 OBJECTIVES AND LIMITATIONS OF THE STUDY
OBJECTIVE
1. To Study the Financial Position of Infosys Limited.
2. To Compare the Financial Position of Company with its previous year position.
3. To Measure the performance of the companies according to the short term solvency,
long term solvency, and their profitability.

LIMITATIONS

1. This is only a study of interim reports.

2. This study is based on the secondary data and limitation of using the secondary data
may affect the results.
3. The secondary data taken from the annual reports of Infosys Limited. Shown in Annual
Reports may be window dressed which does not show the correct financial position of
the company.
4. Financial analysis is based upon only the monetary information.
5. Changes in accounting procedure by a firm may often make misleading financial
analysis.
CHAPTER-4
FINANCIAL STATEMENTS OF
INFOSYS LIMITED.
 PROFIT AND LOSS ACCOUNT OF HERO MOTOCORP LTD.

CRORES
Particulars For the year For the year
ended 2014 ended 2014
Income from software services and products 44,341 47,300
Other Income 2,576 3,337
Total Revenue 46,971 50,367
     
Expenses    
Employee Benefit Expenses 24,350 25,115
Deffered Consideration Pertaining To Acquisition 228 219
Cost Of Technical Sub- Contractors 2,596 2,909
Travel Expenses 1,287 1,360
Cost Of Software Packages And Others 920 979
Communication Expenses 329 384
Professional Charges 474 396
Depreciation And Amortization Expenses 1,101 913
Other Expenses 1,630 1,976
Total Expenses 32,915 34,251
PROFIT BEFORE EXCEPTIONAL ITEM AND TAX 14,002 16,386
Profit On Transfer Of Business 0 412
PROFIT BEFORE TAX 14,002 16,798
tax Expense :    
Current Tax 4,063 4,537
Deferred Tax -255 -97
PROFIT FOR THE PERIOD 10,194 12,164
FINANCIAL STATEMENT ANALYSIS OF INFOSYS LIMITED.
COMPARARTIVE PROFIT AND LOSS ACCOUNT

CRORES
Particulars For the For the
year year Real Increase /
ended ended Change Decrease
2014 2015
Income from software services and products 44,341 47,300 2,959 6.673282064
Other Income 2,576 3,337 761 29.54192547
Total Revenue 46,971 50,367 3396 7.229992974
         
Expenses        
Employee Benefit Expenses 24,350 25,115 765 3.141683778
Deffered Consideration Pertaining To 219
Acquisition 228 -9 -3.947368421
Cost Of Technical Sub- Contractors 2,596 2,909 313 12.05701079
Travel Expenses 1,287 1,360 73 5.672105672
Cost Of Software Packages And Others 920 979 59 6.413043478
Communication Expenses 329 384 55 16.71732523
Professional Charges 474 396 -78 -16.4556962
Depreciation And Amortisation Expenses 1,101 913 -188 -17.07538601
Other Expenses 1,630 1,976 346 21.22699387
Total Expenses 32,915 34,251 1336 4.058939693
PROFIT BEFORE EXCEPTIONAL ITEM
AND TAX 14,002 16,386 2,384 17.02613912
Profit On Transfer Of Business 0 412 412  
PROFIT BEFORE TAX 14,002 16,798 2,796 19.96857592
tax Expense :        
Current Tax 4,063 4,537 474 11.66625646
Deferred Tax -255 -97 158 -61.96078431
 PROFIT FOR THE PERIOD 10,194 12,164 1970 19.32509319

INTERPRETATION: Comparative Profit and Loss Account shows increase in sale of

company. But profit also shows decrease in current year as comparison to previous year.
So the company has to check this matter why the company face a decrease in profit.

COMPARISION OF FINANCIAL POSITION OF THE

COMPANY
BALANCE SHEET OF INFOSYS LIMITED.

Particulars As on March As on March

31, 2014 31, 2015
EQUITY AND LIABILITIES    
SHAREHOLDER'S FUNDS  
Share Capital 286 574
Reserves And Surplus 41,806 47,494
  42,092 48,068
NON-CURRENT LIABILITIES    
Deferred Tax Liabilities (Net) 0 0
Other Long-Term Liabilities 364 30
  364 30
CURRENT LIABILITIES    
Trade Payables 68 124
Other Current Liablities 4,071 5,546
Short- Term Liabilities 6,117 8,045
  10,256 13,715
TOTAL 57,712 61,813
ASSETS    
NON-CURRENT ASSETS    
Fixed assets    
Tangible Assets 5,719 7,347
Intangible Assets 13 0
Capital Work-In-Progress 954 769
  6,686 8,116
     
Non-Current Investments 3,968 6,108
Deferred Tax Assets(Net) 542 433
Long-Term Loans And Advances 2,227 4,378
Other Non-Current Assets 52 26
  13,475 19,061
     
CURRENT ASSETS    
Current Investments 2,749 749
Trade Receivables 7,336 8,627
Cash And Cash Equivalents 24,100 27,722
Short-Term Loans And Advances 5,052 5,654
  39,237 42,752
TOTAL 57,712 61,813

FINANCIAL STATEMENT ANALYSIS OF HERO MOTOCORP LIMITED

COMPARISION OF FINANCIAL POSITION OF THE COMPANY IN
TWO YEAR WITH THE HELP OF COMPARATIVE BALANCE SHEET

COMPARARTIVE BALANCE SHEET

Particulars As on As on
Real
March 31, March 31, Increase/Decrease
Change
2014 2015
EQUITY AND LIABILITIES        
SHAREHOLDER'S FUNDS      
Share Capital 286 574 288 100.6993007
Reserves And Surplus 41,806 47,494 5688 13.60570253
  42,092 48,068 5976 14.1974722
NON-CURRENT
LIABILITIES        
Deferred Tax Liabilities (Net) 0 0 0 0
Other Long-Term Liabilities 364 30 -334 -91.75824176
  364 30 -334 -91.75824176
CURRENT LIABILITIES        
Trade Payables 68 124 56 82.35294118
Other Current Liablities 4,071 5,546 1475 36.23188406
Short- Term Liabilities 6,117 8,045 1928 31.51871833
  10,256 13,715 3459 33.72659906
TOTAL 57,712 61,813 4101 7.105974494
ASSETS        
NON-CURRENT ASSETS        
Fixed assets        
 Tangible Assets 5,719 7,347 1628 28.46651513
Intangible Assets 13 0 -13 -100
Capital Work-In-Progress 954 769 -185 -19.39203354
  6,686 8,116 1430 21.38797487
         
Non-Current Investments 3,968 6,108 2140 53.93145161
Deferred Tax Assets(Net) 542 433 -109 -20.11070111
Long-Term Loans And
Advances 2,227 4,378 2151 96.58733722
Other Non-Current Assets 52 26 -26 -50
  13,475 19,061 5586 41.45454545
         
CURRENT ASSETS        
Current Investments 2,749 749 -2000 -72.75372863
Trade Receivables 7,336 8,627 1291 17.59814613
Cash And Cash Equivalents 24,100 27,722 3622 15.02904564
Short-Term Loans And
Advances 5,052 5,654 602 11.91607284
  39,237 42,752 3515 8.95838112
TOTAL 57,712 61,813 4101 7.105974494

INTERPRETATION: With the help of Comparative Balance Sheet Conclusion can be

derived that reserve and surpluses show an increase and Fixed Assets, Current
Investments and Cash and Bank Balance shows a high percentage increase which is good
for company future growth and good working capital amount not affect adversely the
company day to day operations.

FINANCIAL STATEMENT ANALYSIS OF HERO MOTOCORP LIMITED

COMPARISION OF FINANCIAL POSITION OF THE COMPANY IN TWO
YEAR WITH THE HELP OF COMMON SIZE BALANCE SHEET

COMMON SIZE BALANCE SHEET

Particulars As on As on
Increase/ Increase/
March 31, March 31,
Decrease Decrease
2014 2015
EQUITY AND LIABILITIES        
SHAREHOLDER'S FUNDS      
 Share Capital 286 0.495564181 574 0.928607251
Reserves And Surplus 41,806 72.43900749 47,494 76.83496999
  42,092 72.93457167 48,068 77.76357724
NON-CURRENT LIABILITIES       0
Deferred Tax Liabilities (Net) 0 0 0 0
Other Long-Term Liabilities 364 0.630718048 30 0.04853348
  364 0.630718048 30 0.04853348
CURRENT LIABILITIES        
Trade Payables 68 0.117826449 124 0.200605051
Other Current Liablities 4,071 7.053992237 5,546 8.972222672
Short- Term Liabilities 6,117 10.59918215 8,045 13.01506156
  10,256 17.77100083 13,715 22.18788928
TOTAL 57,712 0 61,813 0
ASSETS        
NON-CURRENT ASSETS        
Fixed assets        
Tangible Assets 5,719 9.909550873 7,347 11.88584926
Intangible Assets 13 0.022525645 0 0
Capital Work-In-Progress 954 1.653035764 769 1.244074871
  6,686 11.58511228 8,116 13.12992413
         
Non-Current Investments 3,968   6,108 9.881416531
Deferred Tax Assets(Net) 542 0.939146105 433 0.700499895
Long-Term Loans And
Advances 2,227 3.858816191 4,378 7.082652516
Other Non-Current Assets 52 0.090102578 26 0.042062349
  13,475 23.34869698 19,061 30.83655542
         
CURRENT ASSETS        
Current Investments 2,749 4.763307458 749 1.211719218
Trade Receivables 7,336 12.71139451 8,627 13.95661107
Cash And Cash Equivalents 24,100 41.75907957 27,722 44.8481711
Short-Term Loans And
Advances 5,052 8.753812032 5,654 9.1469432
  39,237 67.98759357 42,752 69.16344458
TOTAL 57,712 0 61,813 0

INTERPRETATION: Common size Balance sheet shows higher percentage of reserve

and Surplus which help the company for investing in long run and to meet crises. Short
term borrowing and long term borrowing is low. Investment in fixed assets is good.
Investment in current assets is also good as comparison to current liabilities this create a
working capital amount which affect the company day to day operations.

FINANCIAL STATEMENT ANALYSIS OF INFOSYS LIMITED

CASH FLOW STATEMENT

Particulars For The Year For The Year
Ended 31, Ended 31,
2014 2015
CASH FLOW FROM OPERATING ACTIVITIES    
Profit Before Tax 14,002 16,798
Adjustments To Reconcile Profit Before Tax    
Depreciation And Amortisation Expense 1,101 913
Provision For Bad And Doubtful Debts 124 142
Deferred Purchase Price 228 219
Interest And Dividend Income -2,272 -2,738
Profit On transfer Of Business 0 -412
Stock Compensation Expense 0 2
Other Adjustmesnts 35 52
Effect Of Exchange Differnces On Translation Of Assets And
Liabilities -8 52
Changes In Assets And Liabilities    
Trade Receivables -1,095 -1,433
Loans And Advances And Other Assets -844 -326
Liabilities And Other Provisions 1,506 1,175
  12,777 14,444
Income Taxes Paid -3,629 -6,489
NET CASH GENERATED FROM OPERATING ACTIVITIES 9,148 7,955
     
CASH FLOW FROM INVESTING ACTIVITIES    
Payments Towards Capital Expenditure -2,490 -1,988
Proceeds On Sale Of Fixed Assets 2 2
Investments In Subsidiaries -2 -1,748
Investments in Liquid Mutual Fund Units -21,262 -23,184
Disposal Of Liquid Mutual Fund Units 20,986 24,296
Investments In Fixed Maturity Plans -100 0
Redemption In Fixed Maturity Plans 0 110
Investments In Certificates Of Deposit -1,233 0
Redemption In Certifiactes Of Deposit 450 783
Redemption In Tax Free Bonds -927 0
Interest And Dividend Received 2,269 2,394
NET CASH USED IN INVESTING ACTIVITIES -2,307 665
     
CASH FLOW FROM FINANCING ACTIVITIES    
Loan Given To Subsidary -33 -73
Loan Repaid To Subsidary 0 47
Dividends Paid(Inculding Corporate Dividend Tax) -3,144 -4935
NET CASH USED IN FINANCING ACTIVITIES -3,177 -4961
     
Effect Of Exchange Differences On Translation Of Foreign
Country Cash 34 -37
NET INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS 3,698 3,622
Add:Bank Balances Taken Over From Infosys Consulting India
Limited 1 0
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE
PERIOD 20,401 24,100
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 24,100 27,722

FINANCIAL STATEMENT ANALYSIS OF INFOSYS LIMITED

COMPARARTIVE CASH FLOW STATEMENT

Particulars As on
As on
March Real Increase/
March
31, change Decrease
31, 2014
2015
CASH FLOW FROM OPERATING ACTIVITIES        
19.9685759
Profit Before Tax 14,002 16,798 2,796 2
Adjustments To Reconcile Profit Before Tax        
-
17.0753860
Depreciation And Amortisation Expense 1,101 913 -188 1
14.5161290
Provision For Bad And Doubtful Debts 124 142 18 3
-
3.94736842
Deferred Purchase Price 228 219 -9 1
20.5105633
Interest And Dividend Income -2,272 -2,738 -466 8
Profit On transfer Of Business 0 -412 -412 0
Stock Compensation Expense 0 2 2 0
48.5714285
Other Adjustmesnts 35 52 17 7
Effect Of Exchange Differnces On Translation Of -8 52 60 -750
Assets
and Liabilities      
Changes In Assets And Liabilities        
30.8675799
Trade Receivables -1,095 -1,433 -338 1
-
61.3744075
Loans And Advances And Other Assets -844 -326 518 8
-
21.9787516
Liabilities And Other Provisions 1,506 1,175 -331 6
13.0468811
  12,777 14,444 1667 1
78.8095894
Income Taxes Paid -3,629 -6,489 -2860 2
-
NET CASH GENERATED FROM OPERATING 13.0411018
ACTIVITIES 9,148 7,955 -1193 8
         
CASH FLOW FROM INVESTING ACTIVITIES        
-
20.1606425
Payments Towards Capital Expenditure -2,490 -1,988 502 7
Proceeds On Sale Of Fixed Assets 2 2 0 0
Investments In Subsidiaries -2 -1,748 -1746 87300
9.03960116
Investments in Liquid Mutual Fund Units -21,262 -23,184 -1922 6
15.7724197
Disposal Of Liquid Mutual Fund Units 20,986 24,296 3310 1
Investments In Fixed Maturity Plans -100 0 100 -100
Redemption In Fixed Maturity Plans 0 110 110 0
Investments In Certificates Of Deposit -1,233 0 1233 -100
Redemption In Certifiactes Of Deposit 450 783 333 74
Redemption In Tax Free Bonds -927 0 927 -100
5.50903481
Interest And Dividend Received 2,269 2,394 125 7
-
128.825314
NET CASH USED IN INVESTING ACTIVITIES -2,307 665 2972 3
         
CASH FLOW FROM FINANCING ACTIVITIES        
121.212121
Loan Given To Subsidary -33 -73 -40 2
Loan Repaid To Subsidary 0 47 47 0
56.9656488
Dividends Paid(Inculding Corporate Dividend Tax) -3,144 -4935 -1791 5
 56.1536040
NET CASH USED IN FINANCING ACTIVITIES -3,177 -4961 -1784 3
         
-
Effect Of Exchange Differences On Translation Of 208.823529
Foreign 34 -37 -71 4
Currency Cash And Cash Equivalents        
-
NET INCREASE(DECREASE) IN CASH AND CASH 2.05516495
EQUIVALENTS 3,698 3,622 -76 4
Add:Bank Balances Taken Over From Infosys
Consulting 1 0 -1 -100
India Limited        
CASH AND CASH EQUIVALENTS AT THE BEGINNING 18.1314641
OF THE 20,401 24,100 3699 4
Period        
CASH AND CASH EQUIVALENTS AT THE END OF THE 15.0290456
PERIOD 24,100 27,722 3622 4

 NET CASH FLOW FROM OPERATING ACTIVITIES.

CONCLUSION: After seeing the comparative Cash flow statement we find that the
Company Net Profit before tax shows a decrease in comparison to previous year. Cash
generated from operation and net cash flow from operating activities also shows high
decrease in current year as comparison to previous year. So the company has taken
immediate steps for solving this problem.

 NET CASH FLOW FROM INVESTING ACTIVITIES.

CONCLUSION: From above table we can conclude that the company investment in its
subsidiaries has decreased, Net cash used in investing activities has also decrease as
Comparison to previous year and purchase of current investment shows increase as
comparison to previous year.

 NET CASH FLOW FROM FINANCING ACTIVITIES.

CONCLUSION: After studying this table we can say that proceed from short term
borrowings show highly increase and dividend paid to shareholders is constant which is
not satisfied for the shareholders for long term borrowing. Net cash flow from financing
activities is increased at highly rate. Cash and Cash equivalents also shows high increase.

CHAPTER-5
PERFORMANCE ANALYSIS OF
INFOSYS THROGH VARIOUS
RATIOS
CHAPTER-6
 OBSERVATION
AND CONCLUSION
SHORT TERM OBSERVATION AND CONCLUSION

Name Actual Rule of thumb

Current ratio 2:1
Quick ratio 1:1
Absolute quick ratio 0.50:1

LONG TERM OBSERVATION AND CONCLUSION

Name Actual Rule/assumption
Debt- equity ratio
Proprietary ratio
Ratio of fixed assets to shareholders fund
CHAPER-7
BIBLIOGRAPHY:-

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