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Additional information | 1

Infosys Annual Report 2019-20

Additional information

Ratio analysisParticularsYear ended March 31,

202020192018

Financial performance (%)

Export revenue / revenue 97.497.596.8

Cost of sales / revenue 66.965.264.0

Gross profit / revenue 33.134.836.0

Selling and marketing expenses / revenue 5.25.45.1 General and administrative expenses / revenue 6.66.66.6 Selling and marketing, general and administrative expenses / revenue 11.812.011.7

Aggregate employee costs / revenue 56.0

54.855.2

Operating profit / revenue 21.322.824.3

Other income / revenue3.13.54.7

Profit before tax (PBT) / revenue

(6)

24.225.528.7

Tax / revenue

(5)

5.96.96.0

Effective tax rate - Tax / PBT

(5)

24.426.820.9

Profit after tax (PAT) / revenue

(5)(6)

18.318.622.7

Operating cash flows / revenue20.419.220.6

Enterprise-value / operating profit

(1)

12.715.612.6

Balance Sheet

Day"s sales outstanding (days)6966 67

Liquid assets / total assets (%)

(2)(7)

29.436.239.8

Liquid assets / revenue (%)

(2)(7)

30.037.145.0

Return

Return on Equity

(5)(6)(7)

25.523.723.9

Market price / adjusted public offer price (%) 6,91,469 8,01,792 6,09,981

Dividend payout (%)

(3)(8)

53.568.169.8

Per share

Basic EPS ()

(5)(6)

38.9735.44 35.53

Price / earnings, end of the year

(1)(5)(6)

16.521.0 15.9

Book value ()

(4)

154150 149

Market capitalization / revenue, end of the year

(1)

3.03.9 3.5

Note : The above ratio calculations are based on consolidated IFRS INR financial statements. (1)

Represents number of times

(2) Liquid assets include cash and cash equivalents and investments other than investments in unquoted equity and preference securities, convertible promissory notes and others. (3) Based on dividend declared and excludes special dividend (4)

Adjusted for bonus shares

(5) During the year ended March 31, 2018, on account of the conclusion of advance pricing arrangements in overseas jurisdictions, the Company had reversed income tax expense provision of US$

225 million ( 1,432 crore), which pertained to previous periods.

(6) During the year ended March 31, 2018, the Company"s wholly- owned subsidiaries Kallidus and Skava (together referred to as “Skava") and Panaya were classified as “Held for Sale", resulting in a reduction of fair value in respect of Panaya amounting to 118 crore. During the year ended March 31, 2019, a further reduction of 270 crore was recorded in respect of Panaya. On reclassification of Panaya and Skava from “Held for Sale" during the year ended March 31,

2019, the Company recognized an adjustment in respect of excess

of carrying amount over recoverable amount of 451 crore in respect of Skava. (7) During the buyback period that commenced on March 20, 2019 and was completed on August 26, 2019 under the open market

route through stock exchanges, the Company had purchased and extinguished a total of 11,05,19,266 equity shares from the stock

exchanges at an average buyback price of 747 per equity share comprising 2.53% of the pre buyback paid-up equity share capital of the Company. The buyback resulted in a cash outflow of 8,260 crore (excluding transaction costs). During fiscal 2018, 11,30,43,478 equity shares (not adjusted for the September 2018 bonus issue), aggregating to 4.92% of the paid-up capital of the Company, were bought back by the Company for a total amount of 13,000 crore under the “Tender offer" route. (8) Our present Capital Allocation Policy is to pay approximately 85% of the free cash flow cumulatively over a five-year period through a combination of semi-annual dividends and / or share buyback and / or special dividends, subject to applicable laws and requisite approvals, if any. Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the Consolidated Statement of Cash Flows prepared under IFRS.Our past Capital Allocation Policy was to pay up to 70% of free cash flow.

2 | Additional information

Infosys Annual Report 2019-20

(1) During the year ended March 31, 2018, on account of the conclusion of advance pricing arrangement s in overseas jurisdictions, the Company had reversed income tax expense provision of US$

225 million ( 1,432 crore), which pertained to previous periods.

(2)

During the buyback period that commenced on March 20, 2019 and was completed on August 26, 2019 under the open market r

oute through stock

exchanges, the Company had purchased and extinguished a total of 11,05,19,266 equity shares from the stock exchanges at an average buyback price

of 747 per equity share comprising 2.53% of the pre-buyback paid-up equity share capital of the Company. The buyback resulted in a cash outflow

of 8,260 crore (excluding transaction costs). During fiscal 2018, 11,30,43,478 equi ty shares (not adjusted for the September 2018 bonus issue),

aggregating to 4.92% of the paid-up capital of the Company, were bought back by the Company for a total amount of 13,000 crore under the "Tender

offer" route. (3)

During the year ended March 31, 2018, the Company"s wholly-owned subsidiaries Kallidus and Skava (together referred to as “Skava") and Panaya were

classified as “Held for Sale", resulting in a reduction of fair value in respect of Panaya amounting to 118 crore.During the year ended March 31, 2019,

a further reduction of 270 crore was recorded in respect of Panaya. On reclassification of Panaya and Skava from "Held for Sale" during the year ended

March 31, 2019, the Company recognized an adjustment in respect of excess of carrying amount over recoverable amount of 451 crore in respect of

Skava.

Basic EPS

(1)(2)(3) (in ) 38.97
35.44
35.53

Year ended Mar 31, 2020

Year ended Mar 31, 2019

Year ended Mar 31, 2018

Operating pro?t / revenue

(in ) 21.3
22.8
24.3

Year ended Mar 31, 2020

Year ended Mar 31, 2019

Year ended Mar 31, 2018

Pro?t after tax (PAT) / revenue

(1)(3) (in ) 18.3 18.6 22.7

Year ended Mar 31, 2020

Year ended Mar 31, 2019

Year ended Mar 31, 2018

ROE (PAT / average equity)

(1)(2)(3) (i n ) 25.5
23.7
23.9

Year ended Mar 31, 2020

Year ended Mar 31, 2019

Year ended Mar 31, 2018

Liquid assets / total assets

(2) (in ) 29.4
36.2
39.8

Year ended Mar 31, 2020

Year ended Mar 31, 2019

Year ended Mar 31, 2018

Price / earnings end of the year

(1)(3) 16.5 21.0

15.9Year ended Mar 31, 2020

Year ended Mar 31, 2019

Year ended Mar 31, 2018

(in )

Additional information | 3

Infosys Annual Report 2019-20

Employee strength and revenue growth

FiscalNo. of

employees

Growth

IFRS (US $ million)IFRS ( crore)

RevenuesGrowth

Net income

Growth

RevenuesGrowth

PATGrowth

20131,56,68857,39861,725140,352209,42113

Four-year

CAGR(%)5.77.73.39.85.4

Employee strength of Infosys Group

The employee strength of Infosys Group as at March 31, 2020 was 2,42,371 as compared to 2,28,123 as at March 31, 2019.

The details of functional classification and allied information are as follows

ParticularsFiscal 2020Fiscal 2019

Functional classification

Software professionals2,28,44994.26%2,14,72794.13%

Sales and support 13,9225.74%13,3965.87%

Gender

Male1,50,69262.17%1,44,45263.32%

Female91,67937.83%83,67136.68%

Age profile

Less than or equal to 30 years1,39,27857.46%1,33,50658.52%

31-50 years98,15940.50%90,69839.76%

Greater than 50 years4,9342.04%3,9191.72%

4 | Additional information

Infosys Annual Report 2019-20

Historical Data

in crore, except as otherwise stated

Financial performance

Operating profit10,42912,04113,83215,62016,90117,14818,88019,374

Finance cost

(7)(8) ------- 170 Profit before income taxes 12,788 14,710 17,258 18,742 19,951 20,270 21,041 22,007

Provision for taxation

(2)

3,3674,0624,9295,2515,5984,2415,6315,368

Profit after tax

(2)(4)

Profit attributable to the

non-controlling interests------6 45

Profit attributable to owners

of the Company (2)(4)

9,42110,64812,32913,49114,35316,029 15,404 16,594

Digital revenues (%)

(5) -----25.5 31.2 39.2

Margins (%)

Operating profit margin25.824.025.925.024.724.322.821.3

Net profit margin

(4)

23.321.223.121.621.022.718.618.3

Per share data ()

(1)

Basic EPS

(2)(4)

20.61 23.30 26.97 29.52 31.40 35.53 35.44 38.97

Book value 87 103 119 134 150 149 150 154

Financial position

Debt--------

Property, plant and

Right of use assets

(8) -------4,168 Capital expenditure2,0902,7452,2472,7232,7601,9982,4453,307

Cash and cash equivalents

(3)

Current and non-current

investment (3) Net current assets 29,027 33,881 35,813 38,456 39,692 34,176 34,240 33,720 Total assets46,35157,05566,35275,38983,35579,89084,73892,768

Shareholding-related

Market capitalization - period

Credit rating

Standard & Poor"s

(6)

BBB+A-A-A-A-A-A-A-

Dun & Bradstreet

(6)

5A15A15A15A15A15A15A15A1

CRISIL

(6)

AAAAAAAAAAAAAAAAAAAAAAAA

Moody"s

(6) ------A3A3 Notes : The above figures are based on the consolidated IFRS INR financial statements. (1) Previous-period numbers, wherever applicable, have been restated due to the issue of bonus shares. (2) During the year ended March 31, 2018, on account of the conclusion of advance pricing arrangement s in overseas jurisdictions, the Company had reversed income tax expense provision of US$

225 million ( 1,432 crore), which pertained to previous periods.

(3)

During the buyback period that commenced on March 20, 2019 and was completed on August 26, 2019 under the open market route through stock

exchanges, the Company had purchased and extinguished a total of 11,05,19,266 equity shares from the stock exchanges at an average buyback

price of 747 per equity share comprising 2.53% of the pre-buyback paid-up equity share capital of the Company. The buyback resulted in a cash

outflow of 8,260 crore (excluding transaction costs). During fiscal 2018, 11,30,43,478 equi ty shares (not adjusted for the September 2018 bonus

issue), aggregating to 4.92% of the paid-up capital of the Company, were bought back by the Company for a total amount of 13,000 crore under

the “Tender offer" route. (4)

During the year ended March 31, 2018, the Company"s wholly-owned subsidiaries Kallidus and Skava (together referred to as “Skava") and Panaya

were classified as “Held for Sale", resulting in a reduction of fair value in respect of Panaya amounting to 118 crore. During the year ended March

31, 2019, a further reduction of 270 crore was recorded in respect of Panaya. On reclassification of Panaya and Skava from "Held for Sale" during

the year ended March 31, 2019, the Company recognized an adjustment in respect of excess of carrying amount over recoverable amount of 451

crore in respect of Skava. (5)

Data prior to fiscal 2018 is not available, since we are reporting digital revenues from fiscal 2018 onwards.

(6) During the year, Moody"s changed the outlook on Infosys Limited due to change in outlook on Ind ia"s sovereign rating to ‘negative" from ‘stable".

There has been no change in credit ratings from Standard & Poor"s, Dun & Bradstreet and CRISIL during the year.

(7)

Finance cost is on account of adoption of IFRS 16, Leases. The lease payments are discounted using the interest rate implicit in the lease or, if not

readily determinable, using the incremental borrowing rates in the country of domicile of these leases.

Additional information | 5

Infosys Annual Report 2019-20

(8)

Effective April 1, 2019, the Group adopted Ind AS 116, Leases, and applied the standard to all lease contracts existing on April 1, 2019 using the

modified retrospective method and has taken the cumulative adjustment to retained earnings, on the date of initial application.

Shareholding pattern of top 10 shareholders

The date-wise increase / decrease in shareholding pattern of the top 10 shareholders (other than directors, promoters and

holders of GDRs and ADRs) as a percentage of total equity as on March 31, 2020 are listed as follows Date of transactionTransaction typeShareholding at the beginning of the year

Cumulative shareholding

during the year

No. of shares% of total shares

of the Company

No. of shares% of total shares

of the Company

Life Insurance Corporation of India

31/03/2019Opening balance25,43,32,376 5.83 25,43,32,376 5.83

26/04/2019Purchase18,000 0.00 25,43,50,376 5.86

26/04/2019Sale(18,000) (0.00) 25,43,32,376 5.86

03/05/2019Sale(3,83,792) (0.01) 25,39,48,584 5.85

10/05/2019Sale(9,43,449) (0.02) 25,30,05,135 5.84

17/05/2019Sale (7,63,000) (0.02) 25,22,42,135 5.83

24/05/2019Sale (1,07,500) (0.00) 25,21,34,635 5.84

21/06/2019Sale (4,00,000) (0.01) 25,17,34,635 5.85

28/06/2019Sale (3,87,081) (0.01) 25,13,47,554 5.85

05/07/2019Sale (3,11,205) (0.01) 25,10,36,349 5.85

12/07/2019Sale (32,621) (0.00) 25,10,03,728 5.85

09/08/2019Purchase 4,00,000 0.01 25,14,03,728 5.89

16/08/2019Purchase 9,11,700 0.02 25,23,15,428 5.91

23/08/2019Purchase 9,05,780 0.02 25,32,21,208 5.93

30/08/2019Purchase 14,84,678 0.03 25,47,05,886 5.98

30/08/2019Sale (1,100) (0.00) 25,47,04,786 5.98

06/09/2019Purchase 1,38,491 0.00 25,48,43,277 5.98

13/09/2019Purchase 4,00,000 0.01 25,52,43,277 5.99

20/09/2019Purchase 2,76,850 0.01 25,55,20,127 6.00

20/09/2019Sale (2,51,850) (0.01) 25,52,68,277 5.99

27/09/2019Purchase 21,82,316 0.05 25,74,50,593 6.05

30/09/2019Purchase 7,00,000 0.02 25,81,50,593 6.06

04/10/2019Purchase 3,55,065 0.01 25,85,05,658 6.07

11/10/2019Purchase 6,51,180 0.02 25,91,56,838 6.09

11/10/2019Sale (12,580) (0.00) 25,91,44,258 6.09

18/10/2019Purchase 2,88,300 0.01 25,94,32,558 6.09

25/10/2019Purchase 17,19,700 0.04 26,11,52,258 6.13

25/10/2019Sale (31,600) (0.00) 26,11,20,658 6.13

01/11/2019Purchase 5,37,000 0.01 26,16,57,658 6.14

08/11/2019Purchase 6,29,500 0.01 26,22,87,158 6.16

15/11/2019Purchase 12,05,047 0.03 26,34,92,205 6.19

22/11/2019Purchase 15,32,479 0.04 26,50,24,684 6.22

29/11/2019Purchase 3,92,021 0.01 26,54,16,705 6.23

06/12/2019Purchase 8,30,500 0.02 26,62,47,205 6.25

13/12/2019Purchase 10,54,207 0.02 26,73,01,412 6.28

20/12/2019Purchase 6,96,531 0.02 26,79,97,943 6.29

27/12/2019Purchase 1,87,798 0.00 26,81,85,741 6.30

17/01/2020Purchase 10,000 0.00 26,81,95,741 6.30

17/01/2020Sale (10,000) (0.00) 26,81,85,741 6.30

31/01/2020Purchase 190 0.00 26,81,85,931 6.30

31/01/2020Sale (190) (0.00) 26,81,85,741 6.30

07/02/2020Purchase 29,741 0.00 26,82,15,482 6.30

07/02/2020Sale (29,741) (0.00) 26,81,85,741 6.30

28/02/2020Purchase 6,990 0.00 26,81,92,731 6.30

28/02/2020Sale (34,340) (0.00) 26,81,58,391 6.30

06/03/2020Purchase 25,36,402 0.06 27,06,94,793 6.36

06/03/2020Sale (13,000) (0.00) 27,06,81,793 6.36

13/03/2020Purchase 49,54,359 0.12 27,56,36,152 6.47

13/03/2020Sale (25,000) (0.00) 27,56,11,152 6.47

6 | Additional information

Infosys Annual Report 2019-20

Date of transactionTransaction typeShareholding at the beginning of the year

Cumulative shareholding

during the year

No. of shares% of total shares

of the Company

No. of shares% of total shares

of the Company

20/03/2020Purchase 40,33,239 0.09 27,96,44,391 6.57

20/03/2020Sale (16,000) (0.00) 27,96,28,391 6.57

27/03/2020Purchase 20,77,172 0.05 28,17,05,563 6.61

27/03/2020Sale (26,700) (0.00) 28,16,78,863 6.61

31/03/2020Purchase 3,30,000 0.01 28,20,08,863 6.62

31/03/2020Closing Balance 28,20,08,863 6.62

SBI Mutual Fund

31/03/2019Opening Balance 9,81,79,730 2.25 9,81,79,730 2.25

05/04/2019Purchase 5,32,774 0.01 9,87,12,504 2.27

12/04/2019Purchase 4,723 0.00 9,87,17,227 2.27

12/04/2019Sale (54,468) (0.00) 9,86,62,759 2.27

19/04/2019Purchase 1,37,990 0.00 9,88,00,749 2.27

19/04/2019Sale (6,92,465) (0.02) 9,81,08,284 2.26

26/04/2019Purchase 64,501 0.00 9,81,72,785 2.26

26/04/2019Sale (4) (0.00) 9,81,72,781 2.26

03/05/2019Purchase 2,49,880 0.01 9,84,22,661 2.27

10/05/2019Purchase 4,20,021 0.01 9,88,42,682 2.28

10/05/2019Sale (82) (0.00) 9,88,42,600 2.28

17/05/2019Purchase 7,70,548 0.02 9,96,13,148 2.30

24/05/2019Purchase 2,41,027 0.01 9,98,54,175 2.31

24/05/2019Sale (13,88,212) (0.03) 9,84,65,963 2.28

31/05/2019Purchase 2,41,014 0.01 9,87,06,977 2.29

31/05/2019Sale (8,00,000) (0.02) 9,79,06,977 2.27

07/06/2019Purchase 1,98,778 0.00 9,81,05,755 2.28

07/06/2019Sale (1,46,658) (0.00) 9,79,59,097 2.27

14/06/2019Purchase 2,70,397 0.01 9,82,29,494 2.28

21/06/2019Purchase 3,04,637 0.01 9,85,34,131 2.29

28/06/2019Purchase 1,34,386 0.00 9,86,68,517 2.30

28/06/2019Sale (96,384) (0.00) 9,85,72,133 2.30

05/07/2019Purchase 5,20,931 0.01 9,90,93,064 2.31

05/07/2019Sale (3,896) (0.00) 9,90,89,168 2.31

12/07/2019Purchase 9,05,322 0.02 9,99,94,490 2.33

12/07/2019Sale (9,00,000) (0.02) 9,90,94,490 2.31

19/07/2019Purchase 12,95,368 0.03 10,03,89,858 2.34

26/07/2019Purchase 4,22,702 0.01 10,08,12,560 2.35

02/08/2019Purchase 19,63,080 0.05 10,27,75,640 2.40

09/08/2019Purchase 6,95,651 0.02 10,34,71,291 2.42

09/08/2019Sale (25,528) (0.00) 10,34,45,763 2.42

16/08/2019Purchase 3,59,474 0.01 10,38,05,237 2.43

23/08/2019Purchase 3,28,513 0.01 10,41,33,750 2.44

30/08/2019Purchase 5,12,623 0.01 10,46,46,373 2.46

30/08/2019Sale (17,257) (0.00) 10,46,29,116 2.46

06/09/2019Purchase 6,54,200 0.02 10,52,83,316 2.47

06/09/2019Sale (13) (0.00) 10,52,83,303 2.47

13/09/2019Purchase 1,70,269 0.00 10,54,53,572 2.48

13/09/2019Sale (16,928) (0.00) 10,54,36,644 2.48

20/09/2019Purchase 2,30,185 0.01 10,56,66,829 2.48

20/09/2019Sale (229) (0.00) 10,56,66,600 2.48

27/09/2019Purchase 123 0.00 10,56,66,723 2.48

27/09/2019Sale (22,40,501) (0.05) 10,34,26,222 2.43

30/09/2019Purchase 53,590 0.00 10,34,79,812 2.43

30/09/2019Sale (36,955) (0.00) 10,34,42,857 2.43

04/10/2019Purchase 1,67,023 0.00 10,36,09,880 2.43

04/10/2019Sale (4,762) (0.00) 10,36,05,118 2.43

11/10/2019Purchase 99,605 0.00 10,37,04,723 2.44

Additional information | 7

Infosys Annual Report 2019-20

Date of transactionTransaction typeShareholding at the beginning of the year

Cumulative shareholding

during the year

No. of shares% of total shares

of the Company

No. of shares% of total shares

of the Company

11/10/2019Sale (15) (0.00) 10,37,04,708 2.44

18/10/2019Purchase 4,63,646 0.01 10,41,68,354 2.45

25/10/2019Purchase 5,98,298 0.01 10,47,66,652 2.46

25/10/2019Sale (1,04,06,901) (0.24) 9,43,59,751 2.22

01/11/2019Purchase 7,60,886 0.02 9,51,20,637 2.23

01/11/2019Sale (39,99,600) (0.09) 9,11,21,037 2.14

08/11/2019Purchase 27,09,973 0.06 9,38,31,010 2.20

08/11/2019Sale (2) (0.00) 9,38,31,008 2.20

15/11/2019Purchase 6,34,669 0.01 9,44,65,677 2.22

15/11/2019Sale (87,566) (0.00) 9,43,78,111 2.22

22/11/2019Purchase 5,10,270 0.01 9,48,88,381 2.23

22/11/2019Sale (373) (0.00) 9,48,88,008 2.23

29/11/2019Purchase 4,21,746 0.01 9,53,09,754 2.24

06/12/2019Purchase 11,15,234 0.03 9,64,24,988 2.26

06/12/2019Sale (897) (0.00) 9,64,24,091 2.26

13/12/2019Purchase 2,05,292 0.00 9,66,29,383 2.27

13/12/2019Sale (95,672) (0.00) 9,65,33,711 2.27

20/12/2019Purchase 3,02,408 0.01 9,68,36,119 2.27

20/12/2019Sale (2,18,177) (0.01) 9,66,17,942 2.27

27/12/2019Purchase 17,990 0.00 9,66,35,932 2.27

27/12/2019Sale (9,03,554) (0.02) 9,57,32,378 2.25

31/12/2019Purchase 1,29,870 0.00 9,58,62,248 2.25

31/12/2019Sale (1) (0.00) 9,58,62,247 2.25

03/01/2020Purchase 2,14,709 0.01 9,60,76,956 2.26

10/01/2020Purchase 3,97,117 0.01 9,64,74,073 2.27

10/01/2020Sale (868) (0.00) 9,64,73,205 2.27

17/01/2020Purchase 24,32,448 0.06 9,89,05,653 2.32

17/01/2020Sale (11,525) (0.00) 9,88,94,128 2.32

24/01/2020Purchase 6,35,011 0.01 9,95,29,139 2.34

24/01/2020Sale (2) (0.00) 9,95,29,137 2.34

31/01/2020Purchase 3,27,893 0.01 9,98,57,030 2.34

31/01/2020Sale (18,026) (0.00) 9,98,39,004 2.34

07/02/2020Purchase 2,90,490 0.01 10,01,29,494 2.35

07/02/2020Sale (485) (0.00) 10,01,29,009 2.35

14/02/2020Purchase 2,23,569 0.01 10,03,52,578 2.36

14/02/2020Sale (94) (0.00) 10,03,52,484 2.36

21/02/2020Purchase 1,52,625 0.00 10,05,05,109 2.36

21/02/2020Sale (10,491) (0.00) 10,04,94,618 2.36

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