ANNASAHEB MAGER MAHAVIDYALAYA HADAPSAR

PUNE-411028
(2021-2022)
A Project Report On
Study of comparative of Balance sheet of Infosys Company
SUBMITTED BY

PRAJVAL BAJARANG JADHAV

SUBMITTED TO
SAVITRIBAI PHULE PUNE UNIVERSITY
In partial fulfilment of the course
Bachelor of business Administration
(T.Y.B.B.A – SEMESTER-V)
Under the guidance of
Prof Mrs. Shaikh R.C.
 CERTIFICATE
PDEA’S
ANNASAHEB MAGER MAHAVIDALAYA
ID.NO.PU/PN/ASC/029/(1971)
HADAPSAR,PUNE 411028
ACCREDITED BY NAAC: B
Department of BBA
This is certify that Mr. Prajval Bajarang Jadhav student of Batchlor of Business
Administration [T.Y.B.B.A. SEM V] has satisfactorily complete project work in to
Financial analysis of Infosys company
As per syllabus laid down by the University of Savitribai Phule during the
academic year 2021-2022 and entered up his project report for currently and
correctly.
EXAM SEAT NO:-.

MRS.Shaikh R. C. Principal
Head of department Dr. Pandit N.
Shelke
Project guid
Date of Submission:-
 ANNASAHEB MAGER MAHAVIDALAY
HADAPSAR
PUNE – 411028
(2021-2022)
PROJECT VIVA – VOICE EXAM
SEAT NO:-

CLASS: T.Y.B.B.A.
DATE:
PLACE: Hadapsar, Pune.

INTERNAL EXAMINER EXTERNE EXAMINER

 ACKNOWLEDGEMENT
We are greatly delighted to all the people who have directly or
indirectly helped us in this project report.
We wish to thank principal Dr.PANDITRAO SHELKE and
head of department MRS .R.C.SHAIKH for kindly permitting
and giving us the opportunity to study and develope this
project.
We are also greatful to thanks our subject teacher MRS.
SHAIKH R. C. the project guid for providing valueable
guidance and techniques.
So thanks to all….

Submitted by

Prajval Bajarang Jadhav.

 DECLARATION

I herebly declare that all the facts and figures include in the study is a result of my
own research and investigation including formal analysis of entire project work
and the same has not previously submitted to any examination of this university
or any other university. This decleration will hold and in my wise belief with full
consciousness.

Date:

Place : Hadapsar, pune.

Signature.
 Index

1 Infosys technology limited

2 Introduction

3 Product and services

4 Background of Infosys

5 Objective

6 Collection Method of Infosys

7 Limitation of the study

8 Comparative Balancesheet of Infosys Company

9 Trend Analysis of Infosys company

10 Interpretation

14 Suggestions

15 Quetionarrie

16 Finding and conclusion

17 Bibliography
Infosys Limited
TYPE Public

BSE 500209

NASDAQ Infy

FOUNDED July 2, 1981

HEAD QUARTERS Bangalore, India

KEY PEOPLE N.R.Narayana Murthy (chairman) Kris

Gopalakrishna (CEO) & (Director)

INDUSTRY Software services

PRODUCTS IT service

SERVICES Information Technology consulting

services &solutions

REVENUE 1.03 lakh crores INR (US$14billion )

NET INCOME US$4.5 billion

EMPLOYEES 2,59,619

Website Infosys.com
Net Income Of Infosys is :- 19,423 crores INR (US$2.7 billion, 2021)
Infosys/Net income

Area Of Infosys Company :-

The company, which already holds 25 acres of land at Pune Infotech

Park, Hinjewadi, today acquired 100 acres of land in Phase II of the
Infotech Park. Infosys plans to invest approximately Rs 250 crores in
the facility over the next few years.

Award and Recognition :-

In 2021, Infosys was positioned as a leader in the Forrester Wave

Application Modernization & Migration Services.

In 2021, Infosys was positioned as a Leader in Gartner Magic Quadrant

for Data and Analytics Services.

In 2020, Infosys was ranked No. 1 in the HFS Top 10 Agile Software
Development 2020 report.

Infosys Limited is an Indian multinational information technology

company that provides business consulting, information technology
and outsourcing services. The company was founded in Pune and is
headquartered in Bangalore.[5] Infosys is the second-largest Indian IT
company after Tata Consultancy Services by 2020 revenue figures and
the 602nd largest public company in the world according to Forbes
Global 2000 ranking.[6] The credit rating of the company is CRISIL AAA /
Stable / CRISIL A1+ (rating by CRISIL).
INTRODUCTION
Infosys limited belonging to Forbes is one of the largest business groups
across the globe. It serves as a consultancy, software services, e-
business, program management and supply chain solution. The
employees perform different functions such as application
development, product co-development, system implementation and
system engineering. They target business sectors who are specialized in
insurance, banking, telecommunication and manufacturing sectors.
They get more information in this business sectors which are very
useful to their sector. They have their own motive on obtaining those
information as it is of great use to their IT sector.
Infosys is the only Indian company and the first one to be registered in
NASDAQ-100 index. By doing so they serve as testimony to its
competitive business model and leadership position in this industry.
The Managing Director of Infosys said that their inclusion in NASDAQ-
100 not only benefited them but had a recognition to the whole
country. The annual Revenue of the company reached from $100
million to $10 billion in 2017.
Their economic growth had reached to high level among all other IT
sectors. Company’s 87% of revenue were from North America, Europe
and Asian countries especially from India. These countries serve as a
major source of income to IT and ITES sector. Market capitalization of
the company is $46.52 billion which set a benchmark for the IT
companies not only in India but across the globe. It is also noted that
the market cap of Infosys is more than the GDP of many countries.
Infosys is ranked as #3 in 2019 Forbes as the World’s Best Regarded
Companies list. As per 2020, the Number of employees in Infosys were
2,42,371 across Europe, America and Asia. Out of which 37.8% were
women. They give more importance to women empowerment in their
sector. The company won as Best Awards by the Association for Talent
Development (ATD). Apart from this they have won many awards and
one among them were Best Platinum Awards in two consecutive years.
Products and services

Infosys provides software development, maintenance and independent

validation services to companies in finance, insurance, manufacturing
and other domains.

One of its known products is Finacle which is a universal banking

solution with various modules for retail and corporate banking.

Its key products and services are:

NIA – Next Generation Integrated AI Platform (formerly known as Mana)

Infosys Consulting – a global management consulting service

Cloud-based enterprise transformation services[23]

Infosys Information Platform (IIP) – Analytics platform

EdgeVerve Systems which includes Finacle, a global banking platform

Panaya Cloud Suite

Skava- Now rebranded as Infosys Equinox

Engineering Services

Digital Marketing
BACKGROUND OF INFOSYS
Infosys was established in the year 1981 in the name of “Infosys
Consultants Private Limited”. They had become public limited company
in the year 1992 and changed their name to “Infosys Technologies
Limited” which was again renamed in 2011 as “Infosys Limited”. Due to
company’s world-wide development in the IT and ITES sector they have
reached certain top position not only in business but also the in the
minds of people.

OBJECTIVES
To analyse the financial Performance using comparative Balance Sheet.
To analyse the pattern of change of the Company.
To calculate the contribution of each year.
Comparative balance sheet .
Trend analysis
To analyse the financial performance of Infosys Ltd.
Collection Method of Infosys :-

Primary Data :-
In respect of primary data which the researcher is directly collects data
that have not been previously collected. The primary data was gathered
through personal interaction with various functional heads and other
technical personnel. Some information was also collected by
observation.

Secondary Data :-

Secondary data was collected various reports / annual reports,

documents charts, management information systems, etc in hadapsar.
And also collected various magazines, books, newspapers and internet.
The analysis of the information gathered has been made on the basis of
the clarifications sought during the personal discussions with the
concerned people and perception during the personal visits to the
important areas of services.
LIMITATIONS OF THE STUDY

Following were the limitations of the study:

1. Time was limited.
2. The study was only based on the survey of respondents in Hinjawadi
Pune and no other areacould be undertaken for the survey due to lack
of time.
3. This of working capital management is based solely upon the annual
reports of thecompany in hard copy and through company website
ANALYSIS AND INTERPRETATION
COMPARATIVE BALANCE SHEET
The comparative balance sheet is a vertical form of balance sheet
which represents both liabilities and assets of the firm. Two consecutive
year’s balance sheet data are taken and compared for the better
financial review. In the analysis the difference between firm’s financial
position are shown which are helped to take financial decision of the
business.
Infosys shows their expenditure and income for the year 2019-2020.

Particular 2019(in 2020 ( in CHANGE Percentage

cr) cr ) (INCREASE/
DECREASE)

EQUITIES AND
LIABILITIES

SHAREHOLDERS
FUND

Equity share 2, 170 2,122 (48.00) (2.21)

capital

Reserves & 62,551 63,013 462.00 0.73

surplus

Total 64,721 65,135 414.00 0.63

Minority interest 58 394 336.00 579.31

NON-CURRENT
LIABILITIES

Deferred Tax 672 968 296.00 44.04

Liabilities

Other long term 422 5100 4,678.00 1,108.53

liabilities

Total 1094 6068 4,974.00 454.66

CURRENT
LIABIITIES

Trade payables 1,655 2,852 1,197.00 72.33

Other current 16,407 17,432 1,025.00 6.25

liabilities

Short term 576 572 (4.00) (0.69)

provisions

Total 18,638 20,856 2,218.00 11.90

TOTAL LIABILITIES 84,453 92,051 7,598.00 8.99

Asstes

NON-CURENT
ASSETS

Tangible assets 11,479 16,603 5,124.00 44.64

Intangible assets 691 1900 1,209.00 174.96

Capital work-in- 1388 954 (434.00) 31.27

progress

Total 13,558 19,457 5,899 43.51

Non-current 4,634 4,137 (497.00) (10.73)

investments

Deferred tax 1,372 1,744 372.00 27.11

assets

Long term loans & 19 21 2.00 10.53

advances

Other non-current 8,737 7,547 (1,190.00) 13.62

assets

Total 31,860 38,192 6,332.00 19.87

CURRENT ASSETS

Current 6,627 4,655 (1,972.00) 29.76

investments

Trade receivables 14,827 18,487 3,660.00 24.68

cash & cash 19,568 18,649 (919.00) 4.70

equivalents

Short term loans 241 239 (2.00) 0.83

& advances

Other current 11,615 12,546 931.0 8.02

assets

Total 52,878 35,927 16,951.00 32.05

TOTAL ASSETS 84,738 74,119 10,619.00 12.53

Comparative Balancesheet of Infosys Company ( 2019 - 2020) :-

Calculation :-

Comparative Study =

Percentage Change =

Absolute Increase / Decrease

________________________________. ×. 100
Absolute Fig Of Previous Years Item

1 ) Equity share Capital = ( 2019 & 2020 )

2122 - 2170 = -48

-48 / 2170 × 100 = - 2.21 %

2) Reserve And Surplus = ( 2019 & 2020 )

63013 - 62551 = 462

462 / 62551 × 100 = 0.73 %

3) Total ( 2019 & 2020 )

65135 - 64721 = 414

414 / 64721 × 100 = 0.63 %

4) Minority Interest = ( 2019 & 2020 )

394 - 58 = 336

336 / 58 × 100 = 579.31 %

5) Differed Tax Liabilities = ( 2019 & 2020 )

968 - 672 = 296

296 / 672 × 100 = 44.04 %

6) Other long term liabilities = ( 2019 & 2020 )

5100 - 422 = 4678

4678 / 422 × 100 = 1,108.53 %

7) Total = ( 2019 & 2020 )

6068 - 1094 = 4974

4974 / 1094 × 100 = 454.66 %

8) Trade Payable = ( 2019 & 2020 )

2852 - 1655 = 1,197

1,197 / 1655 × 100 = 72.33 %

9) Other current liabilities = ( 2019 & 2020 )

17432 - 16407 = 1025

1025 / 16407 × 100 = 6.25 %

10) Short term provision = ( 2019 & 2020 )

572 - 576 = -4

-4 / 576 × 100 = 0.69 %

11) Total = ( 2019 & 2020 )

20856 - 18638 = 2218

2218 / 18638 × 100 = 11.90 %

12) Total Liabilities = ( 2019 & 2020 )

92051 - 84453 = 7598

7598 / 84453 × 100 = 8.99 %

13) Tangible Asset = ( 2019 & 2020 )

16603 - 11479 = 5124

5124 / 11479 × 100 = 44.64 %

14) Intangible Asset = ( 2019 & 2020 )

1900 - 691 = 1209

1209 / 691 × 100 = 174.96 %

15) Capital Work in progress = ( 2019 & 2020 )

954 - 1388 = -434

-434 / 1388 × 100 = -31.27 %

16) Total = ( 2019 & 2020 )

19457 - 13558 = 5899

5899 / 13558 × 100 = 43.51 %

17 ) Non Current Investment = ( 2019 & 2020 )

4137 - 4634 = - 497

-497 / 4634 × 100 = -10.73 %

18) Differed Tax Asset = ( 2019 & 2020 )

1744 - 1372 = 372

372 / 1372 × 100 = 27.11 %

19) Long term loans and advance = ( 2019 & 2020 )

21 - 19 = 2

2 / 19 × 100 = 10.53 %

20) Other Current asset = ( 2019 & 2020 )

7547 - 8737 = -1190

-1190 / 8737 × 100 = -13.62 %

21) Total = ( 2019 & 2020 )

38192 - 31860 = 6332

6332 / 31860 × 100 = 19.87 %

22) Current Investment = ( 2019 & 2020 )

4655 - 6625 = 1972

1972 / 6625 × 100 = 29.76 %

23) Trade Receivable = ( 2019 & 2020 )

18487 - 14827 = 3660

3660 / 14827 × 100 = 24.68 %

24) Cash and cash equivalent = ( 2019 & 2020 )

18649 - 19568 = -919

-919 / 19568 × 100 = -4.70 %

25) Short term Loan and Advance = ( 2019 & 2020 )

239 - 241 = -2

-2 / 241 × 100 = 0.83 %

26) Other current Asset = ( 2019 & 2020 )

12546 - 11615 = 931

931 / 12546 × 100 = 8.02 %

27) Total = ( 2019 & 2020 )

35927 - 52878 = -16951

-16951 / 52878 × 100 = -32.05 %

28) Total Asset = ( 2019 & 2020 )

74119 - 84738 = -10619

-10619 / 84738 × 100 = -12.53 %

Interpretation :-

1. Equity share capital increased by 2019 ( 2,170 cr ) to decrease by

2020 ( 2,122 cr )

2. Reserve and surplus is the value of decreased by 2019 ( 62,551cr ) to

increased by 2020 ( 63,013cr )

3. Equties and Liabilities decrease by 2019 ( 64,721 cr ) to increases by

2020 ( 65,135 cr )

4. Minority interest decrease by 2019 ( 58cr) to increased by 2020

( 394cr )

5. Deffered tax liabilities decrease by 2019( 422cr ) to increased by

2020 ( 968 cr )

6. Other long term liabilities decrease by 2019 to increase by 2020

7. Non current liabilities increase by 2020 ( 6068 cr ) to decrease by

2019 ( 1094 cr )

8. Trade payable decrease by 2019 ( 1,655 cr ) to increase by 2020

( 2,852 cr )

9. Other current liabilities decrease by 2019 ( 16,407 cr ) to increase by

2020 ( 17,432 cr )

10. Short term provision increase by 2019 to decrease by 2020

11. Current liabilities increase by 2020 to its decrease by 2019

12. Total liabilities increase by 2020 ( 92,057 cr ) to decrease by

2019 ( 84,453 cr )
13. Tangible asset increased by 2020 ( 16,603 cr ) to decrease by 2019
( 11,479 cr )

14. Intangible asset decrease by 2019 ( 691 cr ) to increased by 2020

( 1,900 cr )

15. Capital work in progress increase by 2019 to decrease by 2020

16 . Non current asset increase by 2020 ( 19,457 cr ) to decrease by

2019 ( 13,558 cr )

17. Non current investment increased by 2019 to decrease hy 2020

18. Differed tax asset decrease by 2019 ( 1,372 cr ) to increase by 2020

( 1,744 cr )

19. Long term loan and advance decrease by 2019 to increase by 2020

20. Other non current asset increase by 2019 ( 8,737 cr ) to decrease by

2020 ( 7,547cr )

21 . Current asset increased by 2019 ( 52,878 cr ) to decrease by 2020

( 35,927 cr )

Current investment increase by 2019 to decrease by 2020

22. Trade receivable decrease by 2019 ( 14,827cr ) to increase by 2020

( 18,487cr )

23. Cash and cash equivalent increase by 2019 to decrease by 2020

23. Short term loan and advance increased 2019 to decrease by 2020

24. Other current asset decrease by 2019 ( 11,615 cr ) to increase by

2020 ( 12,546cr )
25. Total current asset increase by 2019 ( 52,878cr ) to decrease by
2020 ( 35,927cr )

26. Total asset increase by 2019 ( 84,738 cr ) to decrease by 2020

( 74,119 cr )
 TREND ANALYSIS
The analysis and review of financial statements for two or more years
is termed as Trend Analysis. Generally, the financial statement such as
Profit & Loss account and Balance
Sheet are taken for Trend Analysis.
It indicates the trend in different years which has been changing from
year to year.
From this analysis the firm will study about the strength and weakness
and they would plan to overcome them in future. For the trend
calculation of two years, it is calculated on the basis of previous years.
This analysis which is taken from the balance sheet are analyzed for
years, the first year is taken as BASE year and the percentage of trend is
calculated.
 Trend Analysis Of Infosys :-

Particular Absolute Amount in Rs (Cr) Amount % in trend base year

2019 2020 2019 2020

Sources of
funds

Equity share 2,170 2,122 189,69 185,46

capital

Employee 227 297 0.00 0.00

stock option

Reserve 62,551 63,031 103.22 104.01

Net worth 64,948 65,450 105.19 106.00

Minority 58 394 0.00 0.00

interest

Total Liabilities 65,006 65,844 105.28 106.64

Application of
funds

Gross block 27,122 36,995 130.15 177.53

Less- 11,412 13,206 153.12 177.19

Accumulated.
Depreciation
Net block 15,710 23.789 117.36 177.72

Capital work in 1,388 954 144.58 99.38

progress

Investment 11,261 8,792 595.19 464.69

Sundry 14,827 18,487 130.86 163.17

Debtors

Cash and Bank 19,568 18,649 59.87 57.04

Balance

Total current 34,395 37,136 78.12 84.35

asset

Loan and 21,984 22,097 145.73 146.48

Advance

Total CA Loans 56,379 59,233 95.38 100.20

and Advance

Current 19,156 26,352 146.30 201.25

Liablities

Provision 576 572 112.50 111.72

Total CL & 19,732 26,924 145.02 197.88

Provision

Net current 36,647 32,309 80.53 71.00

asset

Total Asset 65,006 65,844 105.28 106.64

Contingent 4,891 5,009 276.33 282.99
liabilities

Book value 149 154 55.26 56.87

(Rs)
INTERPRETATION
1) From the above Table no.1, it is inferred that during 2020 there has
been an increase in the value of total asset of Rs. 54,576 (in crores) long
term liabilities to outsiders have creatively increased by 4,678. (in
crores).

2) Equity share capital has decreased by Rs. 2,122(in crores). This fact
indicates that the policy of the company is to purchase fixed assets
from the long term sources of finance.

3) The current assets increased by 54,576(in crores) i.e.,3.21% and cash

has been decreased by Rs.919 (in crores). The current liabilities
increased by 20,856(in crores) i.e.,11.90%. This further confirm that the
company has used long term finances even for the current assets
resulting into an improvement in the liquidity position of the company.

4) Reserves and surplus has been increased from 62,551to 63,031 [i.e.,
0.77%] which shows that the company has not any utilized reserves and
surplus for the payment of dividends to shareholders for the current
year and kept as reserves.

5) Short term provisions have been decreased from 576 to 572 i.e.,
(0.69%) This shows that the company has made more debts. But at the
same time there has been decrease in capital work-in-progress from
1,388 to 954 i.e., (31.27%).

6) This means that the company have made few or less construction
works or any other processes during the year 2020. The expenses of the
company is reduced in this area. The overall financial position of the
company is satisfactory.
7) From the chart No.1, it is inferred that the net worth of the firm has
been decreased in the year 20117-2018 (111.72-105.15%) but it is
increased in 2019 by 0.04% and it has been increased in 2020 (106) as
shown in the chart.

8) The total assets and net worth of the firm remained same. This
shows that the firm’s value is more in 2017.
From the Chart No.2, it is inferred that the total liabilities in the trend
also decreased in 2017-2018 (111.72-105.15%) but it is increased in
2019 (105.19%) but that was an increase in 2020 (106%). This increase
is due to minority interest of the company in 2019.

From the Chart No.3, it is inferred that Gross block of the firm is
decreased in 2017- 2018 but increased in 2019. There was an great
increase in 2020(177.53). It is because the firm did not incur much cost
in asset. It is shown in the chart. This shows an positive indicator on the
performance of the company.
From the Table No.2, it is inferred that the firm has more investment in
the year 2017 when compared to other years. It is because the firm
worked on their old policies. Net current asset has increased in (84.78%)
in 2018.
Working Capital Of Infosys :-

Working Capital = Current Assets – Current Liabilities

INFOSYS LTD fundamentals help investors to digest information that

contributes to INFOSYS' financial success or failures. It also enables
traders to predict the movement of INFOSYS Stock.

This fundamental analysis module provides a way for investors to

measures INFOSYS' intrinsic value by examining all of its available
economic and financial indicators and drivers, including the cash flow
records, the balance sheet account changes, the income statement
patterns, and various microeconomic indicators and financial ratios
related to INFOSYS stock. Please note, this module does not cover all
equities due to inconsistencies in global equity categorizations.
Suggestions :-

The brand has a good reputation in the market that is one of the top
reasons to work at Infosys . The work environment of Infosys is well-
known as the colleagues are not only supportive but ensure that the
new employees can work in a learning environment.
Quetionerrie :-

1) What should you wear to an interview at Infosys?

2) What is the work environment and culture like?

3) Why did you leave your job at Infosys?

4) What would you suggest Infosys management do to prevent others

from leaving?

5) How does someone get hired at Infosys? What are the steps along
the way?

6) How are the working hours at Infosys?

7) How do you feel about the future of Infosys?

8) What is the role of technology support specialist in data warehousing

domain?

9) What is the area of operation of Infosys?

10) What is the employee strength of the Infosys Group?

11) Does the company have debt in its balance sheet?

12) What is the credit rating of the company?

13) When does the financial year of Infosys end?

14) Where can I obtain information on the financial results of Infosys?

FINDINGS AND CONCLUSIONS

⚫ As per trend analysis(Table No.2), the values were decreased in

2019 and made an increase in 2020

⚫ The 5 years trend value depicts the company’s development and

the financial changes of the firm.

⚫ Pattern of the firm remains almost same but there were

technological changes every year.

⚫ Inspite of using loans and advances, they manage to keep their

asset level utmost the same.

⚫ Market value of the firm were higher to cover the debts of firm.

⚫ As per Comparative Balance sheet (Table No.1) The firm made more
contribution (capital) in 2019 when compared to the previous years.
Bibliography :-

⚫ REFERENCES

⚫ Vijayalakshmi, S. et.al. 2017. A study on Financial Performance

Analysis of Bharti Airtel Limited. International Journal of Business
Marketing and Management.

⚫ Pavithra, J. et.al. 2017. A study on the Analysis of Financial

Performance with Reference to Jeppiar Cements Pvt. Ltd.
International Journal of Pure and Applied Mathematics.

⚫ Amalendu Bhunia et al.2011 Financial Performance Analysis-A Case

Study. Current Research Journal of Social Sciences. 2011.

⚫ Julius B. Adesina et al.2015 Capital Structure and Financial

Performance in Nigeria. International Journal of Business and Social
Research. 2015; Volume 05, Issue 02

www.investopedia.com

www.accountingtools.com

www.infosys.com