Infosys Ltd.

• Margin expansion

  Second quarter saw a margin expansion, part of which came from lower travelling and other operational expense. A part of this would stay, but travel expenses are expected to rise in the coming quarters in the post-Covid world.

• Healthy deal Pipeline

  The deals pipeline is expected to remain strong and there was a increase in repeat customers. Across the globe there is an increased focus of manufacturing companies on digitisation and contingency planning, which would add a tail wind to the company. The company reported 16 large deals in the second quarter.

• New administration in White House

  Will the new US administration continue it harsh policy on H1- B visa or relax it, as expected, is a factor which will impact the company’s near-term fortune. Though in the last few years, the Indian IT sector has learnt to live with the restrictions.

• Currency gains

  Given abundant liquidity in the global markets, there is little scope for any strong gains in terms of US dollar. So, the tailwind of currency might be missing for some time to come.

• PE Ratio(x)26.87
• EPS - TTM(₹)41.92
• MCap(₹ Cr.)4,79,801
• MCap Rank2
• PB Ratio(x)7.26
• Div Yield(%)1.55
• Face Value(₹)5.00
• 52W High(₹)1,186.00
• 52W Low(₹)509.25
• MCap/Sales2.99
• Beta(1 Month)0.83
• BV/Share(₹)154.58

• PE Ratio(x)26.87
• EPS - TTM(₹)41.92
• MCap(₹ Cr.)4,79,184
• MCap Rank2
• PB Ratio(x)7.26
• Div Yield(%)1.55
• Face Value(₹)5.00
• 52W High(₹)1,185.00
• 52W Low(₹)511.10
• MCap/Sales2.99
• Beta(1 Month)0.88
• BV/Share(₹)154.58

• 1 Day-1.27%
• 1 Month6.01%
• 3 Months20.41%
• 1 Year61.3%
• 3 Years134.97%
• 5 Years112.99%

• 1 Day-1.27%
• 1 Month6.08%
• 3 Months20.44%
• 1 Year61.32%
• 3 Years135.07%
• 5 Years113.36%

• F&O: Buying at every decline and lower volatility signal bullish trend

  News

• Market Movers: Infosys, ICICI Bank jump; ICICI Lombard at record high; 431 stocks hit upper circuit

  News

• Announcement under Regulation 30 (LODR)-Press Release / Media Release

  Announcements

• BUY

  Buy Infosys, target price Rs 1355: Motilal Oswal

  Recos

• Income (P&L)

  • Employee & Interest Expense

    Company has spent less than 1% of its operating revenues towards interest expenses and 56.05% towards employee cost in the year ending Mar 31, 2020. (Source: Consolidated Financials)

  • Quarterly Revenue Growth Comparison

    Company reported total income growth on both quarterly & yearly basis. Total income for Sep 30, 2020 quarter was Rs 25140.0 cr which is an increase of 4.14% QoQ and 8.11% YoY. (Source: Consolidated Financials)

  QuarterlyAnnual	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
  Total Income	25,140.00	24,140.00	23,881.00	23,919.00	23,255.00
  Total Income Growth (%)	4.14	1.08	-0.16	2.86	3.18
  Total Expenses	18,342.00	18,300.00	18,340.00	18,028.00	17,717.00
  Total Expenses Growth (%)	0.23	-0.22	1.73	1.76	2.22
  EBIT	6,798.00	5,840.00	5,541.00	5,891.00	5,538.00
  EBIT Growth (%)	16.40	5.40	-5.94	6.37	6.36
  PAT	4,845.00	4,233.00	4,321.00	4,457.00	4,019.00
  PAT Growth (%)	14.46	-2.04	-3.05	10.90	5.82
  EBIT Margin (%)	27.04	24.19	23.20	24.63	23.81
  Net Profit Margin (%)	19.27	17.54	18.09	18.63	17.28
  Basic EPS (₹)	11.45	10.07	10.19	10.51	9.46

  QuarterlyAnnual	Sep 2020	Jun 2020	Mar 2020	Dec 2019	Sep 2019
  Total Income	21,628.00	20,803.00	20,772.00	20,862.00	20,270.00
  Total Income Growth (%)	3.97	0.15	-0.43	2.92	2.15
  Total Expenses	15,434.00	15,394.00	15,613.00	15,429.00	15,119.00
  Total Expenses Growth (%)	0.26	-1.40	1.19	2.05	0.82
  EBIT	6,194.00	5,409.00	5,159.00	5,433.00	5,151.00
  EBIT Growth (%)	14.51	4.85	-5.04	5.47	6.25
  PAT	4,497.00	4,008.00	4,069.00	4,076.00	3,829.00
  PAT Growth (%)	12.20	-1.50	-0.17	6.45	7.28
  EBIT Margin (%)	28.64	26.00	24.84	26.04	25.41
  Net Profit Margin (%)	20.79	19.27	19.59	19.54	18.89
  Basic EPS (₹)	10.56	9.41	9.55	9.57	8.97

  QuarterlyAnnual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Total Revenue	93,594.00	85,557.00	73,715.00	71,564.00	65,564.00
  Total Revenue Growth (%)	9.39	16.06	3.01	9.15	15.53
  Total Expenses	71,587.00	64,516.00	53,374.00	51,583.00	46,821.00
  Total Expenses Growth (%)	10.96	20.88	3.47	10.17	18.64
  Profit after Tax (PAT)	16,594.00	15,404.00	16,029.00	14,353.00	13,489.00
  PAT Growth (%)	7.73	-3.90	11.68	6.41	9.03
  Operating Profit Margin (%)	24.42	25.45	28.84	29.17	30.01
  Net Profit Margin (%)	18.27	18.63	22.72	20.95	21.60
  Basic EPS (₹)	38.97	35.44	71.07	62.80	59.02

  QuarterlyAnnual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Total Revenue	81,747.00	75,959.00	65,960.00	62,351.00	56,989.00
  Total Revenue Growth (%)	7.62	15.16	5.79	9.41	12.54
  Total Expenses	61,270.00	56,032.00	46,052.00	43,413.00	39,389.00
  Total Expenses Growth (%)	9.35	21.67	6.08	10.22	15.00
  Profit after Tax (PAT)	15,543.00	14,702.00	16,155.00	13,818.00	12,693.00
  PAT Growth (%)	5.72	-8.99	16.91	8.86	4.35
  Operating Profit Margin (%)	26.04	27.25	32.14	31.94	32.60
  Net Profit Margin (%)	19.66	20.11	26.08	23.30	23.51
  Basic EPS (₹)	36.34	33.66	71.28	60.16	55.26

  All figures in Rs Cr, unless mentioned otherwise

• Balance Sheet

  Annual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Total Assets	92,768.00	84,738.00	79,890.00	83,355.00	75,350.00
  Total Assets Growth (%)	9.48	6.07	-4.16	10.62	13.67
  Total Liabilities	26,924.00	19,732.00	14,966.00	14,373.00	13,606.00
  Total Liabilities Growth (%)	36.45	31.85	4.13	5.64	-12.52
  Total Equity	65,844.00	65,006.00	64,924.00	68,982.00	61,744.00
  Total Equity Growth (%)	1.29	0.13	-5.88	11.72	21.70
  Current Ratio (x)	2.62	2.84	3.55	3.83	3.91
  Total Debt to Equity (x)	0.00	0.00	0.00	0.00	0.00
  Contingent Liabilities	5,009.00	4,891.00	-	-	1,770.00

  Annual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Total Assets	81,041.00	78,930.00	75,877.00	79,885.00	72,732.00
  Total Assets Growth (%)	2.67	4.02	-5.02	9.83	17.66
  Total Liabilities	18,807.00	16,219.00	12,375.00	11,868.00	11,650.00
  Total Liabilities Growth (%)	15.96	31.06	4.27	1.87	-15.24
  Total Equity	62,234.00	62,711.00	63,502.00	68,017.00	61,082.00
  Total Equity Growth (%)	-0.76	-1.25	-6.64	11.35	27.07
  Current Ratio (x)	2.88	3.00	3.78	4.05	3.98
  Total Debt to Equity (x)	0.00	0.00	0.00	0.00	0.00
  Contingent Liabilities	4,730.00	4,617.00	6,068.00	7,727.00	1,483.00

  All figures in Rs Cr, unless mentioned otherwise

• Cash Flows

  • Conservative Profit Recognition

    Over last 5 years, operating cash flow has been continuously rising as compared to company's net profit. (Source: Consolidated Financials)

  • Decrease in Cash from Investing

    Company has used Rs 239.0 cr for investing activities which is an YoY decrease of 58.43%. (Source: Consolidated Financials)

  Annual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Net Cash flow from Operating Activities	17,003.00	14,841.00	13,218.00	11,531.00	10,028.00
  Net Cash used in Investing Activities	-239.00	-575.00	4,452.00	-14,542.00	-901.00
  Net Cash flow from Financing Activities	-17,591.00	-14,512.00	-20,505.00	-6,939.00	-6,813.00
  Net Cash Flow	-919.00	-303.00	-2,754.00	-10,072.00	2,330.00
  Closing Cash & Cash Equivalent	18,649.00	19,568.00	19,871.00	22,625.00	32,697.00
  Closing Cash & Cash Equivalent Growth (%)	-4.70	-1.52	-12.17	-30.80	7.67
  Total Debt/ CFO (x)	0.00	0.00	0.00	0.00	0.00

  Annual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Net Cash flow from Operating Activities	15,572.00	13,989.00	12,475.00	10,478.00	9,578.00
  Net Cash used in Investing Activities	-116.00	-587.00	5,684.00	-13,494.00	-1,207.00
  Net Cash flow from Financing Activities	-17,391.00	-14,571.00	-20,536.00	-6,968.00	-6,908.00
  Net Cash Flow	-1,989.00	-1,219.00	-2,383.00	-10,023.00	1,454.00
  Closing Cash & Cash Equivalent	13,562.00	15,551.00	16,770.00	19,153.00	29,176.00
  Closing Cash & Cash Equivalent Growth (%)	-12.79	-7.27	-12.44	-34.35	5.24
  Total Debt/ CFO (x)	0.00	0.00	0.00	0.00	0.00

  All figures in Rs Cr, unless mentioned otherwise

• Ratios

  Annual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Return on Equity (%)	25.35	23.71	24.68	20.80	21.84
  Return on Capital Employed (%)	30.83	31.83	30.92	28.81	30.17
  Return on Assets (%)	17.88	18.17	20.06	17.21	17.90
  Interest Coverage Ratio (x)	130.45	0.00	0.00	0.00	0.00
  Asset Turnover Ratio (x)	97.86	97.56	88.27	82.15	82.86
  Price to Earnings (x)	16.39	20.92	15.41	16.29	20.66
  Price to Book (x)	4.15	4.96	3.80	3.39	4.51
  EV/EBITDA (x)	10.11	13.13	10.22	9.73	12.18
  EBITDA Margin (%)	27.61	27.88	31.48	31.66	32.35

  Annual	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
  Return on Equity (%)	24.97	23.44	25.44	20.31	20.78
  Return on Capital Employed (%)	31.28	31.38	31.00	27.80	28.78
  Return on Assets (%)	19.17	18.62	21.29	17.29	17.45
  Interest Coverage Ratio (x)	180.62	0.00	0.00	0.00	0.00
  Asset Turnover Ratio (x)	97.53	92.62	81.63	74.21	74.22
  Price to Earnings (x)	17.54	22.03	15.34	16.98	22.08
  Price to Book (x)	4.38	5.16	3.90	3.45	4.58
  EV/EBITDA (x)	11.40	14.30	10.84	10.62	13.38
  EBITDA Margin (%)	28.76	29.44	34.41	34.18	34.66

• Management View (MD&A)

  • Low risk of covid infection

    We have evaluated the impact of COVID-19 resulting from (i) the possibility of constraints to render services which may require revision of estimations of costs to complete the contract because of additional efforts ; (ii) onerous obligations ; (iii) penalties relating to breaches of service-level agreements, and (iv) termination or deferment of contracts by customers. We have concluded that the impact of COVID-19 was not significant based on these estimates for fiscal 2020.

  • Geographic and economy's to watch

    Spending on technology products and services by our clients and prospective clients is subject to fluctuations depending on many factors, including both the economic and regulatory environment in the markets in which they operate. Economic slowdown or other factors may affect the economic health of the United States, the United Kingdom, the European Union (EU), Australia or those industries where our revenues are concentrated.

  • Impressive client addition

    We, along with our subsidiaries, added 376 new clients, including a substantial number of large global corporations. Our total client base at the end of the year stood at 1,411.

• Buy/Sell Signals

  5 Day EMA Crossover

  Bearish signal on daily chart

  Appeared on: 3 Dec 2020

  5D EMA: 1127.36

  Last Signal 25 Nov 2020 (Loss -2.21%)

  Average price decline of -1.79% within 7 days of Bearish signal in last 5 years

  10 Day EMA Crossover

  Bullish signal on daily chart

  Appeared on: 1 Dec 2020

  10D EMA: 1118.98

  Last Signal 23 Nov 2020 (Gain 1.32%)

  Average price gain of 2.18% within 7 days of Bullish signal in last 5 years

  14 Day EMA Crossover

  Bullish signal on daily chart

  Appeared on: 1 Dec 2020

  14D EMA: 1117.06

  Last Signal 23 Nov 2020 (Gain 1.32%)

  Average price gain of 2.16% within 7 days of Bullish signal in last 5 years

  20 Day EMA Crossover

  Bullish signal on daily chart

  Appeared on: 1 Dec 2020

  20D EMA: 1113.39

  Last Signal 23 Nov 2020 (Gain 1.32%)

  Average price gain of 2.11% within 7 days of Bullish signal in last 5 years

• Price Analysis
  49%

  Positive Movement
  since 1st Jan 2005
  on basis

  51%

  Negative Movement
  since 1st Jan 2005
  on basis

  Exclude

  Global Meltdown1st Jan 2008 to 10th Nov 2008

  Covid Crisis1st Feb 2020 to 31st Mar 2020

• Pivot Levels

  R1	1141.40	Pivot 1132.05	S1	1117.10
  R2	1156.35		S2	1107.75
  R3	1180.65		S3	1083.45

• Average True Range

  5 Days	14 Days	28 Days
  28.49	29.59	29.49

• Stock Performance
  • CHART
  • TABLE

  • 1D
  • 1W
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y

  • Choose from Peers

    Choose from Stocks

  NAME	1D	1W	1M	3M	1Y	3Y	5Y
  Infosys	-1.27	1.19	6.01	20.41	61.30	134.97	112.99
  TCS	-1.46	-0.41	2.88	17.83	32.10	106.04	130.52
  HCL Tech	2.26	2.39	5.91	22.00	53.34	107.76	102.59
  Wipro	0.39	1.54	7.34	27.38	52.15	66.00	67.81
  Tech Mahindra	0.71	6.78	13.25	20.49	22.63	93.52	68.66
  Add More

  All values in %

  Choose from Peers

  Choose from Stocks
• Ratio Performance

  NAME	P/E (x)	P/B (x)	ROE %	ROCE %	ROA %	Rev CAGR [3Yr]	OPM	NPM	Basic EPS	Current Ratio	Total Debt/ Equity (x)	Total Debt/ CFO (x)
  Infosys	26.87	4.15	25.35	30.83	17.88	9.26	24.42	18.32	38.97	2.62	0.00	0.00
  TCS	33.17	8.13	38.44	46.00	26.74	9.65	27.50	20.67	86.19	3.33	0.00	0.00
  HCL Tech	19.19	2.31	21.56	24.47	13.33	13.43	20.49	15.64	40.75	1.62	0.09	0.35
  Wipro	21.36	2.03	17.57	21.76	11.96	3.19	21.23	15.97	16.67	2.40	0.11	0.58
  Tech Mahindra	22.19	2.26	18.48	19.88	10.79	8.27	14.25	10.58	46.21	2.12	0.11	0.56
  Add More

  Annual Ratios (%)

  Choose from Peers

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• QoQ Change
  Category	30 Sep 2020	30 Jun 2020	31 Mar 2020	31 Dec 2019
  Promoters	12.95	13.15	13.15	13.15
  Pledge	0.00	0.00	0.00	0.00
  FII	31.31	30.47	31.01	31.76
  DII	24.96	25.42	24.68	23.98
  Mutual Funds	14.23	13.83	13.66	13.36
  Others	30.78	30.96	31.16	31.11

• Total Shareholdings
  Category	No. of Shares	Percentage	% Change QoQ
  Promoters	55,16,82,338	12.95 %	-0.20
  Pledge	0	0.00 %	0.00
  FII	1,33,36,53,084	31.31 %	0.84
  DII	1,06,34,10,064	24.96 %	-0.46
  MF	60,62,12,767	14.23 %	0.40
  Others	1,31,06,66,112	30.78 %	-0.18

• SBI ETF Nifty 50-D

  Equity: Large Cap

  • 5,725.30

    Amount Invested (in Cr.)

  • 7.73%

    % of AUM

  • -4.54

    % Change (MoM basis)

• SBI ETF Sensex

  Equity: Large Cap

  • 2,780.00

    Amount Invested (in Cr.)

  • 9.05%

    % of AUM

  • -2.77

    % Change (MoM basis)

• HDFC Balanced Advantage Direct-G

  Hybrid: Dynamic Asset Allocation

  • 2,432.56

    Amount Invested (in Cr.)

  • 7.01%

    % of AUM

  • 0.00

    % Change (MoM basis)

• Futures
  • Expiry Month31-12-2020 (Current)28-01-2021 (Near)25-02-2021 (Far)

  Date	Price
  27-09-2020Current	1,132.85-14.95 (-1.30%)
  1,149.75 Open	1,152.80 High	1,130.20 Low
  1,147.80 Prev Close	14,337 Contracts Traded	1,95,383.49 Turnover (₹ Lakhs)

• Options
  • TypeCEPE
  • Expiry Month31-12-2020 (Current)28-01-2021 (Near)25-02-2021 (Far)
  • Strike Price720.0740.0760.0780.0800.0820.0840.0860.0880.0900.0920.0940.0960.0980.01000.01020.01040.01060.01080.01100.01120.01140.01160.01180.01200.01220.01240.01260.01280.01300.01320.01340.01360.0

  Date	Price
  27-09-2020Current	0.00-271.45 (-100.00%)
  0.00 Open	0.00 High	0.00 Low
  271.45 Close	0 Contracts Traded	0.00 Turnover (₹ Lakhs)

• Recent

  Interim

  240%

  Oct 14, 2020

  Board Meeting

  Quarterly Results & Interim Dividend

  Sep 15, 2020

  Board Meeting

  Quarterly Results

  Jul 08, 2020

• Board Meetings

  Announced on	Meeting on
  Sep 15, 2020	Oct 14, 2020
  Quarterly Results & Interim Dividend
  Jul 08, 2020	Jul 15, 2020
  Quarterly Results
  Apr 15, 2020	Apr 20, 2020
  Audited Results & Final Dividend
  Dec 30, 2019	Jan 10, 2020
  Quarterly Results
  Sep 13, 2019	Oct 11, 2019
  Quarterly Results & Interim Dividend

• Dividends

  Announced on	Ex-Date	Dividend%
  Oct 14, 2020	Oct 23, 2020	240%
  Apr 20, 2020	May 29, 2020	190%
  Oct 11, 2019	Oct 23, 2019	160%
  Apr 12, 2019	Jun 13, 2019	210%
  Jan 11, 2019	Jan 24, 2019	80%

• Bonus

  Announced on	Ex-Date
  Oct 10, 2014	Dec 02, 2014
  Bonus Ratio: 1 share(s) for every 1 shares held
  Apr 14, 2006	Jul 13, 2006
  Bonus Ratio: 1 share(s) for every 1 shares held
  Jan 25, 1999	Feb 08, 1999
  Bonus Ratio: 1 share(s) for every 1 shares held
  Jun 18, 1997	Aug 19, 1997
  Bonus Ratio: 1 share(s) for every 1 shares held
  Jun 30, 1994	Aug 19, 1994
  Bonus Ratio: 1 share(s) for every 1 shares held

• Splits

  Announced on	Ex-Date
  Nov 30, 1999	Jan 24, 2000
  Split: Old FV10.0| New FV:5.0

• Rights

  No Data Available

• AGM/EGM Meetings

  Announced on	Meeting on
  May 15, 2020	Jun 27, 2020
  -
  Apr 12, 2019	Jun 22, 2019
  Book closure from Jun 15, 2019 to Jun 15, 2019
  Jul 18, 2018	Aug 25, 2018
  -
  Apr 13, 2018	Jun 23, 2018
  Book closure from Jun 16, 2018 to Jun 16, 2018
  Jan 04, 2018	Feb 24, 2018
  -

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 479801.42 Crore) operating in IT Software sector. Infosys Ltd. key Products/Revenue Segments include Software Development Charges which contributed Rs 78809.00 Crore to Sales Value (99.69 % of Total Sales) and Software Products which contributed Rs 238.00 Crore to Sales Value (0.30 % of Total Sales)for the year ending 31-Mar-2020.For the quarter ended 30-09-2020, the company has reported a Consolidated sales of Rs 24570.00 Crore, up 3.82 % from last quarter Sales of Rs 23665.00 Crore and up 8.58 % from last year same quarter Sales of Rs 22629.00 Crore Company has reported net profit after tax of Rs 4858.00 Crore in latest quarter.The company’s top management includes Dr.Punita Kumar Sinha, Mr.D N Prahlad, Mr.D Sundaram, Mr.Michael Gibbs, Mr.Nandan M Nilekani, Mr.Salil Parekh, Mr.U B Pravin Rao, Ms.Kiran Mazumdar Shaw. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2020, the company has a total of 4,259,411,598 shares outstanding. Show More

Infosys Ltd. share price moved down by -1.27% from its previous close of Rs 1,140.90. Infosys Ltd. stock last traded price is 1,126.45

Infosys Ltd. share price moved down by -1.27% from its previous close of Rs 1,141.05. Infosys Ltd. stock last traded price is 1,126.55

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