Infosys Limited is a global business consulting and an Information Technology (IT) solutions company, headquartered in Bangalore.

Infosys Limited was founded in 1981 by Narayan Murthy and six other people.

Infosys has around 1,60,400 employees.

It has a global footprint with sales offices in 30 countries and development centres in India, US, China, Australia, UK, Canada, Japan and many other countries.

Infosys competes in the Software and Information Technology Services and Consulting industry and focuses on providing IT expertise, software design, development and maintenance services as well as on-site management and other IT functions to its customers.

Managing development center

List of Ceos

Name Period

N. R. Narayana Murthy 1981 to March 2002

Nandan Nilekani March 2002 to April 2007

S Gopalakrishnan April 2007 to August 2011

S D Shibulal August 2011 to June 2014

Dr. Vishal Sikka June 14, 2014 till date

Year at glance2014 2013 Growth (%)

Financial Performance :

Income 50,133 40,352 24.2

Gross profit 19,329 16,173 19.5

Operating profit 13,381 11,533 16.0

Profit after tax 10,656 9,429 13.0

EPS (per value of Rs. 5 /- each): Basic 186.49 165.01 13.0

Diluted 186.49 165.01 13.0

Dividend per share 63.00 42.00 50.0

Financial Position :

Cash and cash equivalents 25,950 21,832 18.9

Current Investments 3,024 1,739 73.9

Net current assets 31,047 27,244 14.0

Fixed assets 9,339 8,279 12.8

Non-current assets 4,549 2,709 67.9

Total assets 56,966 46,331 23.0

Non- current liabilities 405 238 70.2

Shareholder’s fund 44,530 37,994 17.2

Auditors' report to the members of Infosys Limited

The financial statements of Infosys ltd are prepared in compliance with the Companies Act, 1956 and generally accepted accounting principles in India(Indian GAAP). It has followed the revised Schedule VI as notified by the Ministry of Corporate Affairs with effect from April 1, 2011, in the financial statements under discussion. The Company will be following the Companies Act, 2013 with effect from April 1, 2014:

We have audited the accompanying financial statements of Infosys Limited ('the Company') which comprise the Balance Sheet as at 31 March, 2014, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 ('the Act').

This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31 March, 2014;

(ii) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and

(iii) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by Section 227(3) of the Act, we report that:

a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

b) in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;

d) the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of account;

e) in our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; and

f) on the basis of written representations received from the directors as on 31 March, 2014, and taken on record by the Board of Directors, none of the directors are disqualified as on 31 March, 2012, from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956.

Conclusion

Infosys is now a mature, well run company with above average growth. It has a shareholder friendly and competent management. The company should provide decent returns in the long run, but one should not expect very high returns.

Is it not smarter to invest in a smaller fast growing IT services company?Yes, but the risk is also correspondingly higher. So it a different risk reward scenario in case of smaller IT services company

Will cost pressures and other currency related issues not impact the company’s performance?

These issues impact all IT companies. However one can expect the management to respond smartly to these environmental changes by globalizing further. The management has successfully responded to the dot com bust, growth related issues and other challenges in the past. It is logical to expect that the management would continue to respond well to any current and new challenges.