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Gopalakrishnan, has said that they are seeing “greater demand for services from our clients.” The supply of quality talent however, continues to dwindle, with the continued economic recovery and increasing competition. Just a few days ago, on the 16th of June, outsourcing firms including Tata Consultancy Services (NSE:TCS), Wipro (NYSE:WIT), Cognizant (NASDAQ:CTSH) and Infosys, all lodged a complaint against fellow outsourcer, Accenture (NYSE:ACN), due to violation of campus recruitment norms in India. Indian outsourcing companies often recruit employees out of campuses in India as a recruitment strategy. The companies begin placement by the final semester of the school year in accordance with Nasscom. Accenture, however, has been accused of sending placements out a semester ahead of its competitors, earning the ire of fellow outsourcing companies including Infosys. Aside from that, the company has also implemented a new program called Green Channel, in an effort to hire back ex-employees of the company, thereby reducing time spent on training new employees. Infosys, last year is reported to have hired 20,000-22,000 people who were from non-computer science backgrounds. For the last quarter, the company hired only 1,026 staff, which is comparably the slowest pace of hiring in the last four quarters.
Attrition Problems It is not only hiring that has affected Infosys’ margins, efforts to cut back on attrition within the company haslead to increased wage hikes among employees.”Companies have given an average wage hike of 12-14 percent offshore and 2-3 percent onsite to be competitive in an improving demand scenario,” according to an analyst with a Mumbai-based brokerage. This has however, contributed to the company falling short in its numbers. The company’s attrition rate has shot up to 15.8% as compared to 11.1% one year ago and 13.4% last quarter. There were a total of 7,833 employees who quit the company. According to company Board Member T.V. Mohandas Pai, “with the market opening up, attrition has increased this quarter. We have taken several steps, including a compensation hike to reduce it.” He further adds that, “one of the steps we are taking to reduce attrition is to enhance lateral hiring.” Economic Problems “Profitability was also hurt by currency volatility, a 30.4% higher tax charge and lower billing rates”, said Chief Financial Officer V. Balakrishnan. A stronger rupee and the 1.6% fall in billing rates have affected the company’s operating margins. Based on currency, the dollar rose 8% against the euro and 5% against the pound, mainly due to the European debt crisis, affecting the dollar revenues of the company. Currently the company’s second largest market after the US, Europe’s debt crisis has affected the outlook for demand and the company’s margins. Company COO S.D. Shibulal, has said in a statement with Reuters that, with Europe, “there are still concerns, local concerns as well as tail effects of the previous recession. Of course, Europe entered the recession late and we believe it will also come out late.”We believe that Europe will lag behind the U.S. for may be another quarter or two.
Author: Audrey B. Infosys will need to play catch up for the next quarter. Judging from the results released by fellow Indian outsourcer. Type Date Begin Date End Audited 01-Apr-09 31-Mar-10 . • • • • • • • • • • About Us Markets Indices Corporates Public Issues / Buyback Members Investors ICCL Training / Certification Products / Services • • Know more about BTI Detailed Result Scrip Code : 500209 Company : INFOSYS TECHNOLOGIES LTD.With the release of the Infosys’ quarter results. Tata Consultancy Services. it would seem at this point that India’s number two exporter is lagging behind its current rivals.
net of taxes Net Profit 58.00 Software Development Expenses Gross Profit 95.530.00 Tax -188.8.131.520.267 Percentage of Public Shareholding 65.00 .620.00 Provision for Investments Operating Profit After Interest and Exceptional Items 65.864.00 EPS before Extraordinary items (in Rs) EPS after Extraordinary items (in Rs) Basic EPS after Extraordinary items Diluted EPS after Extraordinary items Number of Public Shareholding 374.870.070.00 Selling and Distribution Expenses -9.400.00 Interest 0.00 Extraordinary Items 480.00 General Administrative Expenses -12.32 Promoters and Promoter Group Shareholding Pledged / Encumbered 101.470.00 Profit (+)/ Loss (-) from Ordinary Activities before Tax 74.10 480.22 101.720.810.490.590.00 Operating Profit Before Interest 65.00 90.00 Exceptional Items 90.590.00 Income from sale of investments.00 Cost of Sales/Services -115.00 Face Value (in Rs) 5.740.00 Reserves 217.00 Depreciation -8.00 Equity Capital 2. million) 211.Description Interest Earned/Net Income from sales/services Amount(Rs.00 Other Income 9.030.00 Net Profit (+)/ Loss (-) from Ordinary Activities after Tax 57.00 -115.
000 18.058.77%) Get Balance Sheet for : Top of Form BALANCE SHEET Submit Bottom of Form View: Annual DataQuarterly Data All numbers in thousands PERIOD ENDING 31-Mar-09 31-Mar-08 31-Mar-07 Assets Current Assets Cash And Cash Equivalents Short Term Investments Net Receivables Inventory Other Current Assets 2.167.409.000 .000 2.00 0.Number of Shares 0 Percentage of Shares (as a % of the total shareholding of promoter and promoter group) Percentage of Shares (as a% of the total share capital of the company) 0.00 Non-encumbered Number of Shares 92.00 INFY) 70.000 18.000 872.000 6.000 33.978 Percentage of Shares (as a% of the total shareholding of promoter & prom group) Percentage of Shares (as a % of the total share capital of the company) 100.52USD On Oct 2 3.084.020.000 1.21(4.000 1.000 81.000 665.
000 29.000 98.000 66.000 20.000 22.000 - Total Liabilities 592.120.000 88.000 3.000 Total Assets 4.000 7.000 1.000 106.000 Stockholders' Equity Misc Stocks Options Warrants - .Total Current Assets Long Term Investments Property Plant and Equipment Goodwill Intangible Assets Accumulated Amortization Other Assets Deferred Long Term Asset Charges 3.000 - 571.000 Liabilities Current Liabilities Accounts Payable Short/Current Long Term Debt Other Current Liabilities 120.000 1.000 4.000 19.492.000 738.000 25.000 2.000 11.000 Total Current Liabilities Long Term Debt Other Liabilities Deferred Long Term Liability Charges Minority Interest Negative Goodwill 537.000 2.000 3.000 282.022.000 73.000 258.000 37.000 920.073.000 - 355.000 135.000 150.000 48.000 33.000 7.129.098.000 284.000 128.000 395.000 356.000 582.376.
000 Net Tangible Assets $3.871.000 718.000 3.000 2.000 $3.000 2.000 3.000) 64.642.569.000 672.000 64.000 $2.Redeemable Preferred Stock Preferred Stock Common Stock Retained Earnings Treasury Stock Capital Surplus Other Stockholder Equity 64.618.735.817.000 311.000 (570.717.000 Infosys Technologies Limited (INFY) Get Income Statement for : Top of Form INCOME STATEMENT Submit Bottom of Form View: Annual DataQuarterly Data All numbers in thousands .000 692.000 1.910.000 Total Stockholder Equity 3.784.000 90.
374.000 1.000 (2.000 850.000 171.000 1.475.090.000 84.000 2.000 564.176.000 84.000 - Net Income From Continuing Ops 1.000 - 1.000 Gross Profit 1.699.326.000 175.155.313.000 852.000 3.000 Income from Continuing Operations Total Other Income/Expenses Net Earnings Before Interest And Taxes Interest Expense Income Before Tax Income Tax Expense Minority Interest 101.000 1.000) 1.000 1.PERIOD ENDING Total Revenue Cost of Revenue 31-Mar-09 31-Mar-08 31-Mar-07 4.000 Non-recurring Events Discontinued Operations - .000 4.000 458.000 1.000 936.000 8.000 1.000 Operating Expenses Research Development Selling General and Administrative Non Recurring Others 590.777.964.326.151.000 1.000 2.453.723.475.281.663.000 Total Operating Expenses - - - Operating Income or Loss 1.000 936.000 194.000 3.
27B 1.63 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 0.58 SAY = . Margins (ttm): Net Income (ttm): EPS (ttm): PE (ttm): PEG (ttm): PS (ttm): SAY Pvt1 N/A 108.000 Get Competitors for : Top of Form COMPETITORS Submit Bottom of Form DIRECT COMPETITOR COMPARISON INFY Market Cap: Employees: Rev.Extraordinary Items Effect Of Accounting Changes Other Items - - - Net Income 1.0001 N/A 5.281. Growth (ttm): Revenue (ttm): Gross Margin (ttm): EBITDA (ttm): Oper.000 1.26B1 N/A N/A N/A N/A Pvt2 Industry N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 40.72B1 N/A N/A N/A 1.33B N/A N/A N/A N/A N/A N/A N/A N/A N/A 1.42 7.000 850.155.
Get Cash Flow for : Top of Form CASH FLOW Submit Bottom of Form View: Annual DataQuarterly Data All numbers in thousands PERIOD ENDING Net Income 31-Mar-09 31-Mar-08 31-Mar-07 1.000 192.000) 157.000 1.000 (4.000 (139.000) 108.281.000) 93.000) 118.000) Total Cash Flow From Operating Activities 1.000 1. Cash Flows Provided By or Used In Depreciation Adjustments To Net Income Changes In Accounts Receivables Changes In Liabilities Changes In Inventories Changes In Other Operating Activities 165.000 (47.000 .000 (183.155.409. Cash Flows Provided By or Used In Capital Expenditures Investments (285.000) (336.000) (247.000 (2.000 (47.281.000 Operating Activities.000) 178.000) 15.149.000) 165.Pvt1 = Tata Consultancy Services Limited Pvt2 = Wipro Technologies (privately held) Preferred Stock And Other Adjustments - - - Net Income Applicable To Common Shares $1.000 (374.000 Investing Activities.000) (208.000) (16.000 862.000 850.
Other Cashflows from Investing Activities (20.000) Financing Activities.000) (186. Infosys opened its first international office in U.000) (163.000) 115.Tech from IIT Kanpur (1969).000) (33.000 $514.2003 by Ernst and Young Narayana Murthy is the Non-Executive Chairman and Chief Mentor of Infosys Technologies Limited.000) (465. and moral integrity are not at variance with business acumen. transparency.000) (423.E.R.000) (334. Chosen as the World Entrepreneur of the Year . In 1981.000 $655. 1946 Achievement: One of the founders of Infosys Technologies Limited. Narayana Murthy is a B.000 Change In Cash and Cash Equivalents $109.S.000) 17.000 (209. In 1987. N. He set new standards in corporate governance and morality when he stepped down as the Executive Chairman of Infosys at the age of 60.000) Total Cash Flows From Investing Activities (290. Narayan Murthy began his career with Patni Computer Systems in Pune.000 (336.000 (55.000) 277.A.000 4.000 Narayana Murthy Profile Born: August 20. 1946. Born on August 20.000) 41. . Narayana Murthy founded Infosys with six other software professionals. Electrical from University of Mysore (1967) and M. He is a living legend and an epitome of the fact that honesty.000) 14.000 Total Cash Flows From Financing Activities Effect Of Exchange Rate Changes (545. Cash Flows Provided By or Used In Dividends Paid Sale Purchase of Stock Net Borrowings Other Cash Flows from Financing Activities (559.000 6.
application services. Infosys also provides a complete range of services by leveraging our domain and business expertise and strategic alliances with leading technology providers. Over 97% of our revenues come from existing . Infosys company profile 1. maintenance. Infosys was ranked No. Infosys has a turnover of more than $ 2billion and has employee strength of over 50. Infosys became the first Indian company to be listed on NASDAQ. In 1995. Poland. In June 2000. The Economist ranked Narayana Murthy eighth on the list of the 15 most admired global leaders (2005) and Narayan Murthy also topped the Economic Times Corporate Dossier list of India's most powerful CEOs for two consecutive years . Infosys Technologies Ltd. it set up its first office in Europe in Milton Keynes. NarayanaMoorthy too has grown in stature. Our offerings span business and technology consulting.2004 and 2005. the company came up with its IPO. where it makes the best economic sense. He was the first recipient of the Indo-French Forum Medal (2003) and was voted the World Entrepreneur of the Year . In 2002. Infosys has a global footprint with over 50 offices and development centers in India.2003 by Ernst and Young. He has received many honors and awards. custom software development. The GDM is based on the principle of taking work to the location where the best talent is available. the UK. Canada and Japan. re-engineering. UK. 1 in the "Best Employers in India 2002" survey conducted by Hewitt and in the Business World's survey of "India's Most Respected Company. Infosys set up development centers across cities in India and in 1996. Along with the growth of Infosys. Infosys grew rapidly. IT infrastructure services and business process outsourcing. designs and delivers technology-enabled business solutions that help Global 2000 companies win in a Flat World. Infosys defines. we are a global leader in the “next generation” of IT and consulting with revenues of over US$ 4 billion. with the least amount of acceptable risk. product engineering. the Czech Republic. Infosys pioneered the Global Delivery Model (GDM). In 2001. Today (in 2006). which emerged as a disruptive force in the industry leading to the rise of offshore outsourcing.With the liberalization of Indian economy in 1990s. Today.000." Conducted in the same year. Infosys and its subsidiaries have 105. In 1999. Asiaweek magazine featured him in a list of Asia's 50 Most Powerful People. (NASDAQ: INFY) was started in 1981 by seven people with US$ 250. In 1993. Australia. 2009 Infosys takes pride in building strategic long-term client relationships. Narayana Murthy was named by TIME/CNN as one of the 25 most influential global executives. independent testing and validation services. China. systems integration.453 employees as on September 30.
Infosys has its eye on China. Now.59 billion in revenues. to $1.600 people it will hire this year. . the unit that manages business processes. Infosys customers are happy too: 19 out of 20 come back to the Bangalore company with repeat orders. 2 software services exporter. India's No. nearly 1. grew nearly 50% in 2004.Infosys Technologies Infosys. Progeon. Thrilled investors in India value it more than rival Tata Consultancy Services. Of the 12.000 will be at its Shanghai offices. which is two-fifths bigger in revenues. is doubling every year and expects to reach $80 million in sales this year. And it's well on its way to cross $2 billion this year.
OF EMPLOYEES NA DATA PROVIDED BY Company Snapshot Infosys Technologies Limited provides consulting and information technology services primarily in North America. and information technology consulting. It also provides business process management services. engineering services. The company also provides testing services. business process management. In addition. maintenance and production support. The company is headquartered in Bangalore. OF EMPLOYEES NA DATA PROVIDED BY . India. Its solutions include custom application development. Europe. software re-engineering. Infosys Technologies provides software products to the banking industry and business process management services. Infosys Technologies provides software products to the banking industry and business process management services. finance and accounting. NO. and infrastructure management services. and the Asia-Pacific region. such as offsite customer relationship management. business process management. operations and business process consulting. and the Asia-Pacific region.Company Snapshot Infosys Technologies Limited provides consulting and information technology services primarily in North America. systems integration. It also provides business process management services. The company is headquartered in Bangalore. The company also provides testing services. and information technology consulting. engineering services. package evaluation and implementation. In addition. package evaluation and implementation. Its solutions include custom application development. and infrastructure management services. and sales order processing. operations and business process consulting. India. NO. Europe. software re-engineering. such as offsite customer relationship management. maintenance and production support. and sales order processing. and administration. finance and accounting. and administration. systems integration.
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