Credit rating Analysis of

Infosys

Group members:
Yadnesh Shinde: PG-20-044
Siddhita Khangte: PG-20-018
Dimplle Parmani: PG-20-085
Contents
About the company
Basis of the CRISIL rating
Strengths & Weaknesses
Liquidity: Superior
Rating Sensitivity factors
About the company
A large Indian IT services company
It caters to industry verticals
financial services
Retail
Communication
Manufacturing
Energy
Offers a range of digital and traditional IT services
About the company
Digital services include
Artificial intelligence-based analytics & big data
Engineering digital products and Internet of Things (IoT)
Application program interface
Traditional IT services include
Application development and management services
Infrastructure management services
Enterprise application implementation
Strengths Weaknesses
Leading player in the Indian IT Exposure to intense
services space, with competition in the global IT
established position across industry
verticals and service lines
Large scale of operations and
healthy operating efficiency
Strong financial risk profile
and robust liquidity
Liquidity: Superior
Driven by cash surplus of Rs 35,749 crore
Moderate capex plans and no long-term debt
Existing funds and expected cash accrual will be more than sufficient
to finance
Working capital
Capex
Investment in various subsidiaries
Capital return to investors.
Rating Sensitivity factors
Sustained slowdown in revenue growth
Decline in OPBDIT margin below 20%, due to regulatory changes in
operating regions
Reduction in client spending
Weakening the business risk profile
Consistent reduction in cash surplus to below Rs 15,000 crore due to
large acquisitions or capital return to investors, affecting financial
flexibility.
Annexure - Details of Instrument(s)
Rating
Name of Date of Date of Coupon Assigned
ISIN Issue size Complexity
Instrument Allotment Redemption Rate (%) with
Levels Outlook

Long-term
CRISIL
NA* debt NA NA NA 0.00 Simple
AAA/Stable
programme

Commercial
NA* paper NA 7-365 days NA 0.00 Simple CRISIL A1+
programme

*No borrowings issued against this programme