Balance Sheet
(In ₹ crore)
Particulars
Note
As at March 31,
2023
2022
Assets
Non-current assets
Property, plant and equipment
2.1
11,656
11,384
Right-of-use assets
2.3
3,561
3,311
Capital work-in-progress
2.4
275
411
Goodwill
2.2
211
211
Other intangible assets
2.2
3
32
Investments
2.5
23,686
22,869
Loans
2.6
39
34
Other financial assets
2.7
1,341
727
2.17
779
970
Financial assets
Deferred tax assets (net)
Income tax assets (net)
2.17
5,916
5,585
Other non-current assets
2.10
1,788
1,416
49,255
46,950
Total non-current assets
Current assets
Financial assets
Investments
2.5
4,476
5,467
Trade receivables
2.8
20,773
18,966
Cash and cash equivalents
2.9
6,534
12,270
Loans
2.6
291
219
2.7
9,088
6,580
Other financial assets
Other current assets
Total current assets
Total assets
Infosys Integrated Annual Report 2022-23
2.10
10,920
8,935
52,082
52,437
1,01,337
99,387
219
Standalone Financial Statements
Balance Sheet (contd.)
Particulars
Note
As at March 31,
2023
2022
2,074
2,103
Equity and liabilities
Equity
Equity share capital
2.12
Other equity
Total equity
65,671
67,203
67,745
69,306
Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities
2.3
3,553
3,228
Other financial liabilities
2.13
1,317
676
Deferred tax liabilities (net)
2.17
866
841
Other non-current liabilities
2.15
414
360
6,150
5,105
713
558
97
3
2,329
2,666
2.13
12,697
11,269
Other current liabilities
2.15
7,609
7,381
Provisions
2.16
1,163
920
Income tax liabilities (net)
2.17
2,834
2,179
27,442
1,01,337
24,976
99,387
Total non-current liabilities
Current liabilities
Financial liabilities
Lease liabilities
2.3
Trade payables
2.14
Total outstanding dues of micro enterprises and small
enterprises
Total outstanding dues of creditors other than micro
enterprises and small enterprises
Other financial liabilities
Total current liabilities
Total equity and liabilities
The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
for Deloitte Haskins & Sells LLP
Chartered Accountants
for and on behalf of the Board of Directors of Infosys Limited
Firm's Registration No :
117366W/W-100018
Sanjiv V. Pilgaonkar
Partner
D. Sundaram
Salil Parekh
Bobby Parikh
Nilanjan Roy
Jayesh Sanghrajka
A.G.S. Manikantha
Lead Independent Director
Membership No. 039826
Bengaluru
April 13, 2023
220
Chief Financial Officer
Chief Executive Officer
and Managing Director
Executive Vice President and
Deputy Chief Financial Officer
Director
Company Secretary
Infosys Integrated Annual Report 2022-23
Statement of Profit and Loss
(In ₹ crore, except equity share and per equity share data)
Particulars
Note
2023
2022
Revenue from operations
2.18
1,24,014
1,03,940
Other income, net
2.19
3,859
3,224
1,27,873
1,07,164
Total income
Year ended March 31,
Expenses
Employee benefit expenses
2.20
Cost of technical sub-contractors
Travel expenses
Cost of software packages and others
2.20
Communication expenses
Consultancy and professional charges
Depreciation and amortization expenses
2.1, 2.2.2 and 2.3
62,764
51,664
19,096
16,298
1,227
731
5,214
2,985
502
433
1,236
1,511
2,753
2,429
Finance cost
2.3
157
128
Other expenses
2.20
3,281
2,490
Total expenses
96,230
78,669
Profit before tax
31,643
28,495
Tax expense :
Current tax
2.17
8,167
6,960
Deferred tax
2.17
208
300
23,268
21,235
Profit for the year
Infosys Integrated Annual Report 2022-23
221
Standalone Financial Statements
Statement of Profit and Loss (contd.)
Particulars
Note
Year ended March 31,
2023
2022
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability / asset, net
2.17 and 2.21
(19)
(98)
Equity instruments through other comprehensive income, net
2.5 and 2.17
(6)
97
Items that will be reclassified subsequently to profit or loss
Fair value changes on derivatives designated as cash flow hedge, net
2.11 and 2.17
(7)
(8)
Fair value changes on investments, net
2.5 and 2.17
(236)
(39)
(268)
(48)
23,000
21,187
Basic (₹)
55.48
50.27
Diluted (₹)
55.42
50.21
Total other comprehensive income / (loss), net of tax
Total comprehensive income for the year
Earnings per equity share
Equity shares of par value ₹5 each
Weighted average equity shares used in computing earnings per equity share
Basic
2.22
419,38,13,881
422,43,39,562
Diluted
2.22
419,82,34,378
422,95,46,328
The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
for Deloitte Haskins & Sells LLP
Chartered Accountants
for and on behalf of the Board of Directors of Infosys Limited
Firm's Registration No :
117366W/W-100018
Sanjiv V. Pilgaonkar
Partner
D. Sundaram
Salil Parekh
Bobby Parikh
Nilanjan Roy
Jayesh Sanghrajka
A.G.S. Manikantha
Lead Independent Director
Membership No. 039826
Bengaluru
April 13, 2023
222
Chief Financial Officer
Chief Executive Officer
and Managing Director
Executive Vice President and
Deputy Chief Financial Officer
Director
Company Secretary
Infosys Integrated Annual Report 2022-23
Statement of Cash Flows
Accounting policy
Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash receipts or payments, and item of income or expenses associated with
investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.
The Company considers all highly liquid investments that are readily convertible to known amounts of cash to be cash equivalents.
(In ₹ crore)
Particulars
Note
Year ended March 31,
2023
2022
23,268
21,235
2.1, 2.2.2 and 2.3
2,753
2,429
2.17
8,375
7,260
Cash flow from operating activities :
Profit for the year
Adjustments to reconcile net profit to net cash provided by operating activities :
Depreciation and amortization
Income tax expense
Impairment loss recognized / (reversed) under expected credit loss model
183
117
Finance cost
157
128
Interest and dividend income
2.19
(3,028)
(2,617)
Stock compensation expense
2.12
460
372
Other adjustments
Exchange differences on translation of assets and liabilities, net
155
72
(116)
87
(5,065)
(5,725)
(2,171)
(1,125)
Changes in assets and liabilities
Trade receivables and unbilled revenue
Loans, other financial assets and other assets
Trade payables
2.14
(243)
1,112
2,248
5,487
Cash generated from operations
26,976
28,832
Income taxes paid
(7,807)
(6,736)
Net cash generated by operating activities
19,169
22,096
(2,130)
(1,787)
(634)
(745)
Other financial liabilities, other liabilities and provisions
Cash flow from investing activities :
Expenditure on property, plant and equipment
Deposits placed with corporation
Redemption of deposits placed with corporation
482
607
Interest and dividend received
1,299
1,658
Dividend received from subsidiary
1,463
1,218
Loan given to subsidiaries
(427)
–
Loan repaid by subsidiaries
393
73
–
536
Proceeds from redemption of debentures
Investment in subsidiaries
Receipt / (payment) towards business transfer of entities under common control
Escrow and other deposits pertaining to buyback
Redemption of Escrow and other deposits pertaining to buyback
Other receipts
(1,530)
(127)
19
(109)
(483)
(420)
483
420
61
47
Payments to acquire investments
Infosys Integrated Annual Report 2022-23
229
Standalone Financial Statements
Particulars
Note
Year ended March 31,
2023
2022
–
(5)
(62,952)
(48,139)
(400)
–
Preference and equity securities
Liquid mutual fund units
Target maturity fund units
Tax-free bonds and government bonds
(14)
–
Commercial papers
(2,485)
–
Certificates of deposit
(8,909)
(3,897)
Government securities
(1,370)
(3,450)
Non-convertible debentures
Others
–
(1,456)
(4)
(5)
213
20
Proceeds on sale of investments
Tax-free bonds and government bonds
Preference and equity securities
Liquid mutual fund units
–
9
64,168
48,219
395
1,939
Non-convertible debentures
Certificates of deposit
9,454
787
Commercial papers
2,098
–
Government securities
1,532
1,452
99
5
821
(3,150)
(694)
(598)
30
11
(11,499)
(11,125)
44
134
Others
Net cash (used in) / generated from investing activities
Cash flow from financing activities :
Payment of lease liabilities
2.3
Shares issued on exercise of employee stock options
Buyback of equity shares including transaction costs and tax on buyback
Other receipts
Other payments
Payment of dividends
Net cash used in financing activities
Net increase / (decrease) in cash and cash equivalents
(64)
–
(13,674)
(12,697)
(25,857)
(24,275)
(5,867)
(5,329)
Effect of exchange differences on translation of foreign currency cash and cash
equivalents
131
(13)
Cash and cash equivalents at the beginning of the year
2.9
12,270
17,612
Cash and cash equivalents at the end of the year
2.9
6,534
12,270
2.9
46
60
Supplementary information :
Restricted cash balance
The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
for Deloitte Haskins & Sells LLP
Chartered Accountants
for and on behalf of the Board of Directors of Infosys Limited
Firm's Registration No :
117366W/W-100018
Sanjiv V. Pilgaonkar
Partner
D. Sundaram
Salil Parekh
Bobby Parikh
Nilanjan Roy
Jayesh Sanghrajka
A.G.S. Manikantha
Lead Independent Director
Membership No. 039826
Bengaluru
April 13, 2023
230
Chief Financial Officer
Chief Executive Officer
and Managing Director
Executive Vice President and
Deputy Chief Financial Officer
Director
Company Secretary
Infosys Integrated Annual Report 2022-23