Additional Information

Ratio Analysis
Particulars Quarter ended Nine months ended Year ended March 31
December 31 December 31
2023 2022 2023 2022 2023
Financial performance (%)
Export revenue / revenue 97.6 97.6 97.4 97.4 97.4
Cost of Sales / revenue 70.2 69.3 69.7 69.8 69.7
Gross profit / revenue 29.8 30.7 30.3 30.2 30.3
Selling and marketing expenses / revenue 4.4 4.2 4.5 4.2 4.3
General and administrative expenses / revenue 4.9 5.0 4.9 4.9 4.9
Selling and marketing, general and administrative expenses 9.3 9.2 9.5 9.1 9.2
/ revenue
Aggregate employee costs / revenue 53.2 52.9 53.8 53.1 53.4
Operating profit / revenue 20.5 21.5 20.8 21.1 21.1
Other income / revenue 1.7 2.0 1.4 1.9 1.8
Profit before tax (PBT) / revenue 22.2 23.3 22.2 22.7 22.7
Tax / revenue 6.5 6.1 6.5 6.3 6.3
Effective tax rate - Tax / PBT 29.1 26.3 29.0 27.7 27.7
Profit after tax (PAT) / revenue 15.7 17.2 15.8 16.4 16.4
Operating cash flows / revenue 15.2 13.9 16.0 15.0 15.7
Balance sheet
Day’s sales outstanding (Days) (USD terms) 72 68 72 68 62
Consolidated cash and investments / total assets (%) (2)
25.0 25.7 25.0 25.7 24.9
Consolidated cash and investments / revenue (%) (2)
21.2 22.8 21.2 22.8 21.3
Return
Return on equity (%) (USD terms) 31.8 32.2 31.8 32.2 31.2
Per share
Basic EPS (`) 14.76 15.72 44.13 42.85 57.63
Price / earnings, end of the period (1) 26.2 26.7 26.2 26.7 24.8
Book value (`) 193 178 193 178 182
Market capitalization / revenue, end of the period (1) 4.2 4.5 4.2 4.5 4.0

Note: The above ratio calculations are based on consolidated IFRS INR financial statements.
(1)
Represents number of times
(2)
Consolidated cash and investments comprise of cash and cash equivalents, current and non-current investments excluding investments in equity and
preference shares, unquoted compulsorily convertible debentures and others (Non-IFRS measure)

Infosys Limited | 1
 Operating profit / revenue Profit after tax (PAT) / revenue
(in %) (in %)

Quarter ended Dec 31, 2023 20.5 Quarter ended Dec 31, 2023 15.7
Quarter ended Dec 31, 2022 21.5 Quarter ended Dec 31, 2022 17.2
Year ended March 31, 2023 21.1 Year ended March 31, 2023 16.4

ROE (PAT / average equity) (USD terms) Consolidated cash and investments / total assets(1)
(in %) (in %)
Quarter ended Dec 31, 2023 31.8 Quarter ended Dec 31, 2023 25.0
Quarter ended Dec 31, 2022 32.2 Quarter ended Dec 31, 2022 25.7
Year ended March 31, 2023 31.2 Year ended March 31, 2023 24.9

Basic EPS Price / earnings end of the year(2)

(in `)
Quarter ended Dec 31, 2023 14.76 Quarter ended Dec 31, 2023 26.2
Quarter ended Dec 31, 2022 15.72 Quarter ended Dec 31, 2022 26.7
Year ended March 31, 2023 57.63 Year ended March 31, 2023 24.8

(1)
Consolidated cash and investments comprise of cash and cash equivalents, current and non-current investments excluding investments in equity and
preference shares, unquoted compulsorily convertible debentures and others (Non-IFRS measure)
(2)
Represents number of times

2 | Infosys Limited
Statement of comprehensive income
(In ₹ crore except per share data)

Particulars Three months ended Nine months ended Growth % Q3

December 31, December 31, 24 over Q3 23
2023 2022 2023 2022
Revenues 38,821 38,318 1,15,748 1,09,326 1.3%
Cost of Sales 27,253 26,561 80,666 76,342 2.6%
Gross profit 11,568 11,757 35,082 32,984 (1.6)%
Operating expenses :
Selling and marketing expenses 1,700 1,611 5,238 4,591 5.5%
General and administration expenses 1,907 1,904 5,718 5,365 0.2%
Total operating expenses 3,607 3,515 10,956 9,956 2.6%
Operating profit 7,961 8,242 24,126 23,028 (3.4)%
Other income, net (1) 658 689 1,622 1,828 (4.5)%
Profit before income taxes 8,619 8,931 25,748 24,856 (3.5)%
Income tax expense 2,506 2,345 7,474 6,882 6.9%
Net profit (before minority interest) 6,113 6,586 18,274 17,974 (7.2)%
Net profit (after minority interest) 6,106 6,586 18,264 17,967 (7.3)%
Basic EPS (₹) 14.76 15.72 44.13 42.85 (6.1)%
Diluted EPS (₹) 14.74 15.70 44.08 42.79 (6.1)%
(1)
Other income is net of Finance Cost

Balance sheet data

(In ₹ crore)

Particulars December 31, 2023 March 31, 2023

Cash and cash equivalents 13,645 12,173
Current investments 7,974 6,909
Trade receivables 30,618 25,424
Property, plant and equipment 12,870 13,793
Non current investments 11,270 12,569
Other assets 53,489 54,948
Total assets 1,29,866 1,25,816
Total liabilites 49,416 50,021
Total equity 80,450 75,795
Total liabilities and equity 1,29,866 1,25,816

Infosys Limited | 3
Statement of comprehensive income
(in US $ millions, except per share data)

Particulars Three months ended Nine months ended Growth % Q3 24

December 31, December 31, over Q3 23
2023 2022 2023 2022
Revenues 4,663 4,659 13,997 13,657 0.1%
Cost of sales 3,274 3,230 9,755 9,544 1.4%
Gross profit 1,389 1,429 4,242 4,113 (2.8)%
Operating expenses:
Selling and marketing expenses 204 196 633 574 4.1 %
Administrative expenses 229 232 692 671 (1.3)%
Total operating expenses 433 428 1,325 1,245 1.2 %
Operating profit 956 1,001 2,917 2,868 (4.5)%
Other income, net (1) 79 84 196 229 (6.0)%
Profit before income taxes 1,035 1,085 3,113 3,097 (4.6)%
Income tax expense 301 285 904 859 5.6%
Net profit (before minority interest) 734 800 2,209 2,238 (8.2)%
Net profit (after minority interest) 733 800 2,208 2,237 (8.3)%
Basic EPS ($) 0.18 0.19 0.53 0.53 (7.1)%
Diluted EPS ($) 0.18 0.19 0.53 0.53 (7.1)%
(1)
Other income is net of Finance Cost

Balance sheet data

(in US $ millions)

Particulars December 31, 2023 March 31, 2023

Cash and cash equivalents 1,640 1,481
Current investments 958 841
Trade receivables 3,680 3,094
Property, plant and equipment 1,547 1,679
Non current investments 1,354 1,530
Other assets 6,427 6,687
Total assets 15,606 15,312
Total liabilites 5,938 6,088
Total equity 9,668 9,224
Total liabilities and equity 15,606 15,312

4 | Infosys Limited
Shareholder information
Registered office
Electronics City, Hosur Road, Bengaluru 560 100, India
Tel.: +91-80-4116 7775, Fax: +91-80-2852-0754
Homepage: www.infosys.com

Listing on stock exchanges

In India: Equity shares - The BSE Limited (BSE) and National Stock Exchange of India Ltd. (NSE)
Outside India: American Depositary Shares (ADSs) - New York Stock Exchange (NYSE)

Par value of equity shares

Rs. 5/- each fully paid-up

Registrar and share transfer agent

Any communication regarding share certificate, dividends, change of address, etc. may be addressed to:
KFin Technologies Limited,
Registrars and Share Transfer Agents;
Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda,
Serilingampally Mandal
Hyderabad-500 032
Tel. : 1800-309-4001

Stock market data relating to shares listed in India

a. The company’s market capitalization is included in the computation of the BSE-30 Sensitive Index (Sensex), the BSE Dollex and
S&P CNX NIFTY Index.
b. Monthly high and low quotations as well as the volume of shares traded at BSE and NSE for the quarter ended December 31,
2023, are as follows:

BSE NSE Total Volume

High (Rs.) Low (Rs.) Volume (No.) High (Rs.) Low (Rs.) Volume (No.) (BSE & NSE) (No.)
October 2023 1,518.50 1,353.85 88,56,233.00 1,518.25 1,353.10 11,56,59,556.00 12,45,15,789.00
November 2023 1,465.95 1,352.00 58,66,468.00 1,467.90 1,351.65 8,57,58,382.00 9,16,24,850.00
December 2023 1,593.00 1,432.65 70,48,878.00 1,593.00 1,433.15 13,00,77,843.00 13,71,26,721.00
Total 2,17,71,579.00 33,14,95,781.00 35,32,67,360.00
Volume traded/average Q3 FY 2024 0.59 8.93 9.52
outstanding shares (%) Q3 FY 2023 0.80 8.89 9.70
The number of shares outstanding are 3,71,16,30,850. American Depositary Shares (ADSs) have been excluded for the purpose
of this calculation.
Investor services – Complaints Received

Nature of complaints Quarter ended

December 31, 2023 December 31, 2022
Pending Received Disposed - off Unresolved Pending Received Disposed - off Unresolved
Dividend/annual report 0 60 59 1 18 1183 1201 0
related/others
The company has attended to most of the investors’ grievances/correspondences within a period of 10 days from the date of receipt of
the same, during the quarter ended December 31, 2023 except in cases that are constrained by disputes or legal impediments.

Infosys Limited | 5
Legal Proceedings
There are some pending cases relating to disputes over title to shares, in which the company has been made a party. However, these
cases are not material in nature.
Categories of shareholders as on December 31, 2023

Category No. of shareholders Voting strength (%) No. of shares held

Promoter and promoter group
Indian Promoters and Promoter Group 25 13.22 54,86,43,979
Total Promoters holding (A) 25 13.22 54,86,43,979
Public shareholding
Institutions (Domestic)
Mutual funds 39 16.35 67,87,24,362
Alternative Investment Funds 58 0.41 1,69,06,153
Banks 20 0.12 50,92,548
Insurance companies 48 13.21 54,82,54,689
Provident Funds/ Pension Funds 1 1.65 6,85,72,253
Sovereign Wealth Funds 2 0.16 66,28,364
NBFCs registered with RBI 25 0.08 32,42,640
Other financial institutions 1 0.00 20,000
Institutions (Foreign)
Foreign Portfolio Investors Category I 1,277 29.24 1,21,36,61,496
Foreign Portfolio Investors Category II 95 0.88 3,66,47,186
Any Other [Institutions (Foreign)] 2 0.01 2,42,925
Central Government/ State Government(s)
Shareholding by Companies or Bodies Corporate where Central / State 6 0.02 8,64,056
Government is a promoter
Non-institutions
Directors and their relatives (excluding independent directors and 1 0.02 9,46,356
nominee directors)
Key Managerial Personnel 3 0.01 3,84,451
Relatives of promoters (other than ‘immediate relatives’ of promoters 4 0.01 3,25,270
disclosed under ‘Promoter and Promoter Group’ category)
Investor Education and Protection Fund (IEPF) 1 0.02 7,53,567
Resident Individuals holding nominal share capital up to Rs. 2 lakhs 28,03,826 7.66 31,80,79,019
Resident Individuals holding nominal share capital in excess of Rs. 2 1,296 4.02 16,68,22,380
lakhs
Non-Resident Indians (NRIs) 53,148 0.91 3,78,36,917
Foreign Nationals 6 0.00 7,595
Foreign Companies 3 0.04 17,08,231
Bodies Corporate 6,577 0.83 3,43,25,344
Any Other (Clearing Members, Trusts, HUF) 30,564 0.28 1,16,91,604
Total Public Shareholding (B) 28,97,003 75.94 3,15,17,37,406
Non-promoter-non-public shareholding
Custodian/DR Holder* 1 10.57 43,88,16,704
Employee Benefit Trust 1 0.27 1,12,49,465
Total Non-Promoter-Non-Public Shareholding (C) 2 10.84 45,00,66,169
Total (A+B+C) 28,97,030 100 4,15,04,47,554
* Held by beneficial owners outside India.

6 | Infosys Limited
Financial calendar (tentative and subject to change)

Financial results
Quarter ending March 31, 2024 April 18, 2024

Investors’ correspondence

For queries relating to For investor correspondence: For queries relating to shares/
financial statements: dividends/Compliances:
Jayesh Sanghrajka, Sandeep Mahindroo, A.G.S. Manikantha,
Deputy Chief Financial Officer Financial Controller Company Secretary
Infosys Limited Infosys Limited, Infosys Limited,
Electronics City, Hosur Road, Electronics City, Hosur Road, Electronics City, Hosur Road,
Bangalore-560 100, India, Bangalore-560 100, India, Bangalore- 560 100, India.
Tel.: +91-80-2852-1705 Tel.: +91-80-3980-1018 Tel.: +91-80-4116-7775
Fax: +91-80-2852-0754 Fax: +91-80-2852-0362 Fax: +91-80-2852-0362
E-mail: [email protected] E-mail: [email protected] E-mail: [email protected]

Stock exchange codes

Reuters Code Bloomberg code Exchange

INFY.BO (BSE) INFO IB (BSE) INFY (BSE)
INFY.NS (NSE) INFO IS (NSE) INFY(NSE)
INFY.K (NYSE) INFY US (NYSE) INFY (NYSE)

Stock market data relating to American Depositary Shares (ADSs)

a. ADS listed at: NYSE
b. Ratio of ADS to equity shares: One ADS for one equity share
c. ADS symbol: INFY
d. The American Depositary Shares issued under the ADS program of the company were listed on the NASDAQ National Market in the
US on March 11, 1999. We had withdrawn the listing of our ADSs from NASDAQ and listed the same in the New York Stock Exchange.
With effect from December 12, 2012, we transferred the listing of our ADSs from the NASDAQ to NYSE. Also, the Company began
trading of its ADSs on NYSE Euronext’s (NYX) London and Paris markets on February 20, 2013. The Company’s shares were delisted
from Euronext Paris and Euronext London effective July 5, 2018 primarily due to the low average daily trading volume of Infosys
ADSs on Euronext Paris and Euronext London, which is not commensurate with the related administrative requirements. The
monthly high and low quotations as well as the volume of ADSs traded at the NYSE for the quarter ended December 31, 2023 are:

High Low Volume at NYSE

$ Rs. $ Rs.
October 2023 18.00 1,498.77 16.21 1,347.48 17,79,79,251
November 2023 17.75 1,479.20 16.27 1,354.64 11,81,28,957
December 2023 18.98 1,581.48 17.29 1,441.64 12,10,35,325
Total 41,71,43,533

Note: 1 ADS = 1 equity share. USD has been converted into Indian rupees at the daily closing rates for high and low respectively. The number of ADSs outstanding
as on December 31, 2023 was 43,88,16,704. The percentage of volume traded to the total float was 95.06 %.

ECS mandate and change of address

All shareholders are requested to update their bank account details and current address with their respective depositories immediately.
This would enable the Company to serve its investors better.

Infosys Limited | 7