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InfosysLtd.
BSE: 500209|NSE: INFYEQ|58888: infy
SECT: InformationTechnology

|IND: ComputersSoftware|ISINcode: INE009A01021|

BSE LIVE

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6.15(0.56%)

1089.45

1080.00

1095.60

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102,142

1089.45

868.88

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YoucanviewfulltextoftheDirector'sReportforInfosysLtd.

DirectorReport

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TypeCompanyName

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Print
Mar2014Mar2015

Tothemembers,
Wearedelightedtopresentthereportonourbusinessandoperations
fortheyearendedMarch31,2015.
1.Resultsofouroperations
inRs.crore,exceptpersharedata

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2015201420152014

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...

Incomefromsoftware
servicesandproducts47,30044,34153,31950,133

more

Softwaredevelopment
expenses27,82826,73831,83430,804
Grossprofit19,47217,60321,48519,329
Sellingandmarketing
expenses2,5492,3902,9462,625
Generaland
administrationexpenses2,9612,6863,6683,323
Operatingprofitbefore
depreciation13,96212,52714,87113,381
Depreciationand
amortization9131,1011,0171,317

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Operatingprofit13,04911,42613,85412,064
Otherincome3,3372,5763,4302,664
Profitbefore
exceptionalitem
andtax16,38614,00217,28414,728
Profitontransferof
business(1)<42>

ETSpeedNews
Asvi
LossesinITC,Infosys,TCS,ICICIBank
andHDFCBankledSensextoshowa
cautiousopening.

2daysago
Profitbeforetax16,79814,00217,28414,728
Taxexpense4,6343,8084,9114,072

Asvi

Profitbeforeminority
interestandsharein
netprofit/(loss)of
associate12,16410,19412,37310,656

Investorsarenoweyeingatthecounter
ofInfosysinviewofitsongoingeffortsto
increaseinvestmentswithanobjectiveto
strengthenbankingsoftwareFinacle's
footprintintheUS.
3daysago

Shareinnetprofit/
(loss)ofassociate<1)

RKmalu.ratan

Profitfortheperiod12,16410,19412,37210,656

Willgive100%returnsinnext2yearsof
time.

Surplusopening
balance30,39225,38331,45326,041

3daysago

Dividendeliminated
onconsolidationof
trust132113

Aniks
ThestockofInfosysjustifiesabuywitha
targetofRs1340astheITmajoris
expectedtodeliver9.5%YoYrevenue
growthinFY16whichwouldbefurther
risento15%inFY17.

Reservesontransfer
ofassetsand
liabilitiesofInfosys
ConsultingIndia
Limited6

4daysago
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Hi,Iamrahilabegumrahim.persuing
b.techinthestreamofinformation
technology.Thisismydreamcompanyas
well...howeverIwanttobegetplacedin
infosys..andnowIamworkingforit..i
wouldfeelreallyproudinsayingIaman

Deconsolidationof
trust(2)(42)
Amountavailable
forappropriation42,51435,64643,84636,710

4daysago
Dividend

Morespeednews

Interim1,7231,1491,7231,149
Final3,3882,4693,3882,469
Totaldividend5,1113,6185,1113,618
Dividendtax1,0346151,034615
Amounttransferredto
generalreserve1,2171,0211,2171,021
Amounttransferredto
otherreserve(3)13
Surplusclosing
balance35,15230,39236,48331,453
EarningsPerShare
(EPS)before
exceptionalitem(4)(5)
Basic102.3389.20108.2693.25
Diluted102.3389.20108.2593.25
EPSafterexceptional
item(4)(5)
Basic105.9189.20108.2693.25
Diluted105.9189.20108.2593.25

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Notes:Theabovefiguresareextractedfromthestandaloneand
consolidatedfinancialstatementsasperIndianGenerallyAccepted
AccountingPrinciples(GAAP).
1crore=10million
(1)OnApril15,2014,theBoardofDirectors(''theBoard'')of
InfosysauthorizedtheCompanytoexecuteaBusinessTransferAgreement
andrelateddocumentswithEdgeVerveSystemsLimited(EdgeVerve),
subjecttosecuringtherequisiteapprovalfromshareholdersinthe
AnnualGeneralMeeting.Subsequently,attheAnnualGeneralMeeting
heldonJune14,2014,theshareholdersauthorizedtheBoardtoenter
intoaBusinessTransferAgreementandrelateddocumentswith
EdgeVerve,witheffectfromJuly1,2014orsuchotherdateasmaybe
decidedbytheBoard.TheCompanyhasundertakenanenterprise
valuationbyanindependentvaluerandaccordinglythebusinesshas
beentransferredforaconsiderationofRs.421crore(US$70million)
witheffectfromJuly1,2014.NetassetsamountingtoRs.9crorehave
alsobeentransferredandaccordinglyagainofRs.412crorehasbeen
recordedasanexceptionalitem.Theconsiderationhasbeensettled
throughtheissueoffullypaidupsharesinEdgeVerve.Thetransferof
assetsandliabilitiesisaccountedforatcarryingvaluesanddoesnot
haveanyimpactontheconsolidatedfinancialstatements.
(2)EffectiveJanuary1,2015,InfosysLimitedEmployees''WelfareTrust
hasbeendeconsolidatedconsequenttoSEBI(ShareBasedEmployee
Benefits)Regulations,2014issuedonOctober28,2014.
(3)UndertheSwissCodeofObligation,afewLodestonesubsidiaries
arerequiredtoappropriate5%oftheannualprofittolegalreserve

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untilthisequals20%ofthepaidupsharecapital.Totheextentit
doesnotexceedonehalfofthesharecapital,thegeneralreservemay
beusedonlytocoverlossesorformeasuresdesignedtosustainthe
Companythroughdifficulttimes,topreventunemploymentortomitigate
itsconsequences.
(4)EquitysharesareatparvalueofRs.5/each.
(5)TheCompanyhasallotted57,42,36,166fullypaidupequitysharesof
facevalueRs.5/eachduringtheyearendedMarch31,2015,pursuantto
abonusissueapprovedbytheshareholdersthroughapostalballot.The
recorddatefixedbytheBoardwasDecember3,2014.Abonusshareof
oneequityshareforeveryequityshareheld,andastockdividendof
oneAmericanDepositaryShare(ADS)foreveryADSheld,respectively,
hasbeenallotted.Consequently,theratioofequitysharesunderlying
theADSsheldbyanAmericanDepositaryReceiptholderremains
unchanged.Earningspershare(EPS)ofthepreviousyearhasbeen
adjustedforthebonusissue,inaccordancewithAccountingStandard
(AS)20EarningsPerShare.
Revenuesstandalone
OurtotalincomeonastandalonebasisincreasedtoRs.47,300crorefrom
Rs.44,341croreinthepreviousyear,atagrowthrateof6.7%.Our
softwareexportrevenuesaggregatedtoRs.45,993crore,upby6.8%from
Rs.43,063croreinthepreviousyear.Outofthetotalrevenue,64.0%
camefromNorthAmerica,21.8%fromEurope,2.8%fromIndiaand11.4%
fromtheRestoftheWorld.Onastandalonebasis,ourshareof
revenuesfromallpartsoftheworldoutsideNorthAmericahas
decreasedto36.0%inthecurrentyearfrom36.9%inthepreviousyear.
Revenuesconsolidated
OurtotalincomeonaconsolidatedbasisincreasedtoRs.53,319crore
fromRs.50,133croreinthepreviousyear,atagrowthrateof6.4%.Our
softwareexportrevenuesaggregatedtoRs.52,035crore,upby6.5%from
Rs.48,839croreinthepreviousyear.Outofthetotalrevenue,61.5%
camefromNorthAmerica,24.1%fromEurope,2.4%fromIndia,and12.0%
fromtheRestoftheWorld.Afocusofourgrowthstrategyistoexpand
ourbusinesstopartsoftheworldoutsideNorthAmericatodiversify
ourrevenues.Onaconsolidatedbasis,ourshareofrevenuesfromall
partsoftheworldoutsideNorthAmericadecreasedto38.5%inthe
currentyearfrom39.3%inthepreviousyear.
Profitsstandalone
OurgrossprofitonastandalonebasisamountedtoRs.19,472crore
(41.2%ofrevenue),asagainstRs.17,603crore(39.7%ofrevenue)inthe
previousyear.Salesandmarketingcostswere5.4%ofourrevenuefor
eachoftheyearsendedMarch31,2015andMarch31,2014.Generaland
administrationexpenseswere6.3%and6.0%ofourrevenuesduringthe
currentyearandpreviousyear,respectively.Theoperatingprofit
beforedepreciationamountedtoRs.13,962crore(29.5%ofrevenue),as
againstRs.12,527crore(28.3%ofrevenue)inthepreviousyear.The
profitbeforeexceptionalitemandtaxwasRs.16,386crore(34.7%of
revenue),asagainstRs.14,002crore(31.6%ofrevenue)intheprevious
year.
Profitsconsolidated
OurgrossprofitonaconsolidatedbasisamountedtoRs.21,485crore
(40.3%ofrevenue),asagainstRs.19,329crore(38.6%ofrevenue)inthe
previousyear.Salesandmarketingcostswere5.5%and5.2%ofour
revenuefortheyearsendedMarch31,2015andMarch31,2014,
respectivelyGeneralandadministrationexpenseswere6.9%and6.7%of
ourrevenuesduringthecurrentyearandpreviousyear,respectively.
TheOperatingProfitbeforeDepreciationamountedtoRs.14,871crore
(27.9%ofrevenue),asagainstRs.13,381crore(26.7%ofrevenue)inthe
previousyear.TheprofitbeforetaxwasRs.17,284crore(32.4%of
revenue),asagainstRs.14,728crore(29.4%ofrevenue)intheprevious
year.
Capitalexpenditureontangibleassetsstandalone
Thisyear,onastandalonebasis,wecapitalizedRs.2,540crore.This
comprisesRs.694croreforinvestmentincomputerequipment,Rs.3crore
onvehiclesandthebalanceofRs.1,843croreoninfrastructure
investments.
Inthepreviousyear,wecapitalizedRs.2,381crore.ThiscomprisedRs.
672croreforinvestmentincomputerequipment,Rs.3croreonvehicles
andthebalanceofRs.1,706croreoninfrastructureinvestments.
Capitalexpenditureontangibleassetsconsolidated
Onaconsolidatedbasis,wecapitalizedRs.2,673croreinthecurrent
year.ThiscomprisesRs.778croreforinvestmentincomputerequipment,
Rs.6croreonvehicles,andthebalanceofRs.1,889croreon
infrastructureinvestments.
Inthepreviousyear,wecapitalizedRs.2,533crore.ThiscomprisedRs.
759croreforinvestmentincomputerequipment,Rs.11croreonvehicles,
andthebalanceofRs.1,763croreoninfrastructureinvestments.
Liquidity
Wecontinuetobedebtfreeandmaintainsufficientcashtomeetour
strategicobjectives.WeunderstandthatliquidityintheBalanceSheet
hastobalancebetweenearningadequatereturnsandtheneedtocover
financialandbusinessrisks.Liquidityenablesustomakearapid
shiftindirection,ifthereisamarketdemand.Duringfiscal2015,

internalcashflowshavemorethanadequatelycoveredworkingcapital
requirements,capitalexpenditure,investmentinsubsidiariesand
dividendpayments.AsonMarch31,2015,onastandalonebasis,wehad
liquidassetsofRs.29,705crore,asagainstRs.28,149croreatthe
previousyearend.Onaconsolidatedbasis,wehadliquidassetsofRs.
32,543croreatthecurrentyearend,asagainstRs.30,277croreatthe
previousyearend.Thesefundscomprisedepositswithbanksandhighly
ratedfinancialinstitutions,liquidmutualfunds,fixedmaturity
plans,certificatesofdeposit,taxfreebondsandgovernmentbonds.
Thedetailsofthetaxfreebondsandgovernmentbondsaredisclosed
underthe''noncurrentinvestments''sectioninthefinancial
statementsinthisAnnualReport.
Appropriations
Dividend
TheBoard,initsmeetingheldonApril24,2015,decidedtoreviseand
increasethedividendpayoutratiotoupto50%ofposttax
consolidatedprofitseffectivefiscal2015fromtheexistingcapofup
to40%.
TheBoard,initsmeetingheldonOctober10,2014,declaredaninterim
dividendofRs.30/perequityshare(notadjustedforbonusissue).
Further,theBoard,initsmeetingheldonApril24,2015,has
recommendedafinaldividendofRs.29.50/perequityshare(equivalent
toRs.14.75/persharepostthe1:1bonusissue,ifthe1:1bonusissue
approvedbymembers,pursuanttothePostalBallotNoticedatedApril
24,2015)forthefinancialyearendedMarch31,2015.Theproposalis
subjecttotheapprovalofshareholdersattheAnnualGeneralMeeting
tobeheldonJune22,2015.
Thetotaldividendappropriation(excludingdividendtax)forthe
currentyearisRs.5,111crore,asagainstRs.3,618croreintheprevious
year.Dividend(includingdividendtax)asapercentageofconsolidated
netprofitaftertaxis49.8%,ascomparedto39.7%intheprevious
year.
TheRegisterofMembersandShareTransferBookswillremainclosedon
June17,2015forthepurposeofpaymentofthefinaldividendforthe
financialyearendedMarch31,2015,andtheAnnualGeneralMeeting.
TheAnnualGeneralMeetingisscheduledtobeheldonJune22,2015.
Bonusshares
TheCompany,inDecember2014,hadissuedbonussharestothe
shareholdersoftheCompanyinproportionof1:1andconsequently,the
paidupsharecapitaloftheCompanyincreasedfrom57,42,36,166to
1,14,84,72,332shares.
Particularsofloans,guaranteesorinvestments
Loans,guaranteesandinvestmentscoveredunderSection186ofthe
CompaniesAct,2013formpartofthenotestothefinancialstatements
providedinthisAnnualReport.
Transfertoreserves
WeproposetotransferRs.1,217croretothegeneralreserve.Anamount
ofRs.35,152croreisproposedtoberetainedinthesurplus.
Fixeddeposits
Wehavenotacceptedanyfixeddepositsand,assuch,noamountof
principalorinterestwasoutstandingasoftheBalanceSheetdate.
Particularsofcontractsorarrangementsmadewithrelatedparties
Particularsofcontractsorarrangementswithrelatedpartiesreferred
toinSection188(1)oftheCompaniesAct,2013,intheprescribedForm
AOC2,isappendedasAnnexure2totheBoard''sreport.
Materialchangesandcommitmentsaffectingfinancialpositionbetween
theendofthefinancialyearanddateofreport
OnApril24,2015,theBoardauthorizedtheCompanytoexecutea
BusinessTransferAgreementandrelateddocumentswiththeCompany''s
subsidiary,EdgeVerve,subjecttosecuringtherequisiteapprovalfrom
shareholdersthroughpostalballot.Theproposedtransferofthe
businessofFinacleandEdgeServicestoEdgeVerveisatanestimated
considerationofuptoRs.3,400croreanduptoRs.220crore,
respectively.OnApril24,2015,theCompanyenteredintoadefinitive
agreementtoacquireKallidusInc.(doingbusinessasSkava)andits
affiliate,aleadingproviderofdigitalexperiencesolutions,
includingmobilecommerceandinstoreshoppingexperiences,tolarge
retailclients,foraconsiderationofUS$120million(approximatelyRs.
750crore),includingadeferredcomponentandretentionbonus.
TheBoard,initsmeetingheldonApril24,2015,hasconsidered,
approvedandrecommendedabonusissueofoneequityshareforevery
equityshareheldandastockdividendofoneAmericanDepositaryShare
(ADS)foreveryADSheld,respectively,asonarecorddatetobe
determined.Consequently,theratioofequitysharesunderlyingthe
ADSsheldbyanAmericanDepositaryReceiptholderwouldremain
unchanged.ThebonusissueofequitysharesandADSswillbesubjectto
approvalbytheshareholdersthroughpostalballot,andanyother
applicablestatutoryandregulatoryapprovals.
Apartfromthese,therehavebeennoothermaterialchangesand
commitmentsaffectingthefinancialpositionoftheCompanybetweenthe
endofthefinancialyearandthedateofthereport.

Variationinmarketcapitalization
AsatMarch31,Increase/
20152014(decrease)in%
Marketcapitalization
(inRs.crore)2,54,7711,88,51035.1
Priceearnings
ratio(1)20.517.616.5
Percentageincrease
inthemarketprice
ofthesharesin
comparisonwith
thelastpublic
offerprice(2)5,97,687
Notes:DatabasedonsharepricesquotedonNSE.
(1)BasedonconsolidatedIndianGAAPfinancialstatements.
(2)Lastpublicofferpricehasbeenadjustedforbonusissuesand
stocksplit.
Management''sdiscussionandanalysis
IntermsoftheprovisionsofClause49oftheListingAgreement,the
Management''sdiscussionandanalysisissetoutinthisAnnualReport.
2.Business
Strategy
Ourstrategicobjectiveistobuildasustainableorganizationthat
remainsrelevanttotheagendaofourclients,whilegenerating
profitablegrowthforourinvestors.
Inordertodothis,wewillapplytheprioritiesofourstrategy
renewandnewtoourownbusinessandcascadeittoeverythingwe
do.Thisappliestooursolutionandserviceofferings,ourclientand
employeeengagementprocesses,andtotheoperationalprocessesofthe
Company.Thesetranslatetothefollowingstrategicfocusareas:
Differentiateoursolutionandserviceofferings:Inprocessoriented
servicesinfrastructuremanagement,businessprocessoutsourcing,
andsoftwaretestingormaintenanceourstrategywillbetoembrace
theconceptsofautomationandartificialintelligencetoimprove
productivity,gainhigheraccuracyandreducethetotalcostto
clients.WeareleveragingourGlobalDeliveryModeltoprovidescale,
quality,expertiseandcostadvantagestoourprojectswithclients.We
arebuildingdifferentiatedplatformssuchasourEdgeSuite,our
FinaclecorebankingproductandtheInfosysInformationPlatform.We
willleveragetheadvantagesofopensourcetechnologiesinproviding
innovativeandhighcostbenefitperformancesolutionstoourclients.
Wewillcontinuetoinvestinemergingmobileanddigitaltechnologies
andbigdataanalytics.
Pursuestrategicalliancesandacquisitions:Wearedeveloping
alliancesthatcomplementourcorecompetencies.Wearepartneringwith
leadingtechnologysoftwareprovidersincreating,deploying,
integratingandoperatingbusinesssolutionsforourclients.Weplan
todeployourcapitalinmakingselectivebusinessacquisitionsthat
augmentourexpertise,complementourpresenceincertainmarket
segmentsandacceleratetheexecutionofourstrategies.
Builddeepandimpactfulclientrelationships:Ourstrategyisto
engagewithclientsontheirlargetransformativeprograms,bothin
traditionalITareasaswellasfortheirnewdigitalbusiness
initiatives.Weareexpandingexistingclientrelationshipsby
providingthemabroadsetofendtoendserviceofferingsand
increasingthesize,natureandnumberofprojectswedowiththem.We
willacquirenewclients,andincreaseourpresenceinnewgeographies
andmarketsegmentsbyinvestingintargetedbusinessdevelopmentand
marketing.Wewillinvestinhighperformingconsultingandbusiness
developmentteamsandtheprocessesandsystemsrequiredtomakethem
effective.Wewillcontinuetoensureourbrandisdifferentiated,
globalandrespected.BuildaculturewithintheCompanythatdelivers
innovationtoclients:Wewillcreatetherequiredenvironment,
structures,ecosystemsandeconomicmodelsthatwillspurinnovation
acrosstheCompanyWeareusingDesignThinkingmethodstoelicitnew
problemstatementsandbringtogetherourdeepknowledgeofclient
industriesandemergingtechnologiestosolveproblemsforourclients.
WehaveallocatedUS$500milliontowardsaninnovationfundtotap
intoinnovationnetworksofearlystagecompaniesanduniversitiesto
gainaccesstonewthinkingandbusinessmodels.Wewillcontinueto
buildacollaborativeandentrepreneurialcultureintheorganization.
Attractandretainaglobal,diverse,motivatedandhighperforming
employeebase:Ouremployeesareourbiggestassets.Tomeetthe
evolvingneedofourclients,ourpriorityistoattractandengagethe
besttalentintherightlocationswiththerightskills.Wearefully
committedtostrengtheningourbrandtocontinuetobethe''employer
ofchoice''.Aseriesofmeasureshavebeeninitiatedtoempowerour
employeesthroughtrustandaccountability.Wehaveoverhauledour
performancemanagementsystemtobringinmoreobjectivity,created
internalmarketplaceforemployeestoworkonchallengingassignments,
andincreasedthefocusonprovidingasafeandtransparentworking
environment.Weareguidedbyourvaluesystemwhichmotivatesour
attitudesandactions.OurcorevaluesareClientValue,Leadershipby
Example,IntegrityandTransparency,FairnessandExcellence(CLIFE).

Wehaveinvestedsubstantiallyintraining,whichiscentraltoour
employees''learningandcareerdevelopmentprocess.Wearecommittedto
creatingaworkenvironmentthatissocial,funandcollaborative.We
continuetoprovideemployeeswithlifelonglearningopportunitiesin
atransparentandmeritocraticculture.Enhanceouroperational
effectivenessforagilityandcost:Wewillperiodicallyassessthe
effectivenessofourorganizationstructureandprocessestooptimize
itforalignmentwithourstrategicobjectivesandagility.We
continuallyevaluatecriticalcrossfunctionalprocessesandbenchmark
themwithbestinclasspracticestooptimizecostsandenableswift
andeffectiveresponsetoourclients.Weconstantlymonitorand
optimizevariousoperationalparameterssuchasthecostand
utilizationofresources,distributionofemployeesaroundtheworld,
thecostofoperatingourcampusesandoptimallyrealizingthe
efficienciesofscaleandthestrengthsofourGlobalDeliveryModel.
Organizationalchanges
Toenhanceouragilityinthemarket,sharpenourcompetitive
differentiationanddefragmentcentersofexcellence,werealignedour
organizationalstructure.TherealignmentiseffectiveApril1,2015.
Ourgotomarketunitsareorganizedaroundfiveglobalindustry
segments:
FinancialServices
Manufacturing
Retail,CPG&Logistics
Energy,Utilities,Communications&Services
LifeSciences,Healthcare&Insurance
Apartfromthefiveindustrysegments,ourbusinessesinIndia,China
andJapanarerunasstandaloneregionalbusinessunits.
Ourservicedeliverywillbeorganizedashorizontalcentersof
excellenceorservicelines,withafocusonnurturinginnovation,to
drivedifferentiationacrosstheindustrysegments.Thisorganization
willcomprisethefollowingservicelines:
InfosysGlobalConsulting
GlobalDelivery
EnterpriseSolutions
InfosysDigital
EnterpriseMobility
CustomApplicationDevelopment
ApplicationManagementServices
IndependentValidationSolutions
BusinessIntelligence
EngineeringServices
CloudandInfrastructureServices
Products
Finacle
EdgeVerve
Platforms
InfosysBPO
Clientbase
Ourclientcentricapproachcontinuestobringushighlevelsofclient
satisfaction.Wederived97.8%ofourconsolidatedrevenuesfromrepeat
businessthisfiscal.We,alongwithoursubsidiaries,added221new
clients,includingasubstantialnumberoflargeglobalcorporations.
Ourtotalclientbaseattheendoftheyearstoodat950.Theclient
segmentationforthecurrentandpreviousyearsonaconsolidatedbasis
isasfollows:
innos.
Clients20152014
1milliondollar529501
5milliondollar244232
10milliondollar159148
25milliondollar8378
50milliondollar4742
75milliondollar2924
100milliondollar1513

200milliondollar43
300milliondollar1
Infrastructure
Weadded35.62lakhsq.ft.ofphysicalinfrastructurespaceduringthe
year.ThetotalavailablespaceasonMarch31,2015standsat403.68
lakhsq.ft.ThenumberofmarketingofficesasonMarch31,2015was
85,comparedto73inthepreviousyear.
Subsidiariesandassociates
We,alongwithoursubsidiaries,provideconsulting,technology,
outsourcingandnextgenerationservices.Atthebeginningoftheyear,
wehad11directsubsidiaries.AsonMarch31,2015,wehave13direct
subsidiaries,29stepdownsubsidiariesandoneassociate.
Duringtheyear,theBoardofDirectors(''theBoard'')reviewedthe
affairsofthesubsidiaries.InaccordancewithSection129(3)ofthe
CompaniesAct,2013,wehavepreparedconsolidatedfinancialstatements
oftheCompanyandallitssubsidiaries,whichformpartoftheAnnual
Report.Further,astatementcontainingthesalientfeaturesofthe
financialstatementofoursubsidiariesintheprescribedformatAOC1
isappendedasAnnexure1totheBoard''sreport.Thestatementalso
providesthedetailsofperformance,financialpositionsofeachofthe
subsidiaries.
InaccordancewithSection136oftheCompaniesAct,2013,theaudited
financialstatements,includingtheconsolidatedfinancialstatements
andrelatedinformationoftheCompanyandauditedaccountsofeachof
itssubsidiaries,areavailableonourwebsitewww.infosys.com.These
documentswillalsobeavailableforinspectionduringbusinesshours
atourregisteredofficeinBengaluru,India.Duringtheyear,
investmentsweremadeinthefollowingsubsidiaries/associate:
InfosysNovaHoldingsLLC:Duringtheyear,theCompany
incorporatedanewsubsidiary,InfosysNovaHoldingsLLC(''Infosys
Nova''),intheU.S.,effectiveJanuary23,2015.Subsequently,
InfosysNovaacquired20%oftheequityinterestsinDWANovaLLC,a
companyformedalongwithDreamWorksAnimation(DWA),foracash
considerationofRs.94crore.DWANovaLLCwilldevelopand
commercializeimagegenerationtechnologyinordertoprovide
endtoenddigitalmanufacturingcapabilitiestocompaniesinvolvedin
thedesigning,manufacturing,marketingordistributionofphysical
consumerproducts.
PanayaInc.:OnMarch5,2015,Infosysacquired100%voting
interestsinPanayaInc.(''Panaya''),aDelawareCorporationinthe
U.S.,byenteringintoasharepurchaseagreementforacash
considerationofapproximatelyRs.1,398crore.Panayaisaleading
providerofautomationtechnologyforlargescaleenterpriseand
softwaremanagement.
EdgeVerve:InfosysestablishedEdgeVerveSystemsLimitedin2014,
tohelpglobalcorporationssense,influence,fulfillandservethe
needsofdigitalconsumers,andleveragethepotentialoftheir
businessecosystems.
OnApril15,2014,theBoardofDirectorsofInfosysauthorizedthe
CompanytoexecuteaBusinessTransferAgreementandrelateddocuments
withEdgeVerve,subjecttosecuringtherequisiteapprovalfrom
shareholdersintheAnnualGeneralMeeting.Subsequently,atthe
AnnualGeneralMeetingheldonJune14,2014,theshareholders
authorizedtheBoardtoenterintoaBusinessTransferAgreementand
relateddocumentswithEdgeVerve,witheffectfromJuly1,2014orsuch
otherdateasmaybedecidedbytheBoard.TheCompanyhasundertaken
anenterprisevaluationbyanindependentvaluerandaccordinglythe
businesshasbeentransferredforaconsiderationofRs.421crore(US
$70million)witheffectfromJuly1,2014,settledthroughtheissue
offullypaidupequityshares.
ProductsandplatformsFinacle
Finacleistheindustryleadinguniversalbankingsolutionfrom
Infosysthathelpsbankssimplifytheiroperations,accelerate
innovationandcreatenewopportunities.Today,Finacleisthechoice
forbanksacross84countriesandservesover547millioncustomers.
Thesolutionisconsistentlyratedasaleaderinthemarketbyvarious
industryanalysts.Finaclesolutionsaddresscorebanking,ebanking,
mobilebanking,CRM,payments,treasury,origination,liquidity
managementandwealthmanagementofretailandcorporate,anduniversal
banksworldwide.Thesolution''scomponentbasedstructureand
enterpriseclasscapabilitieshelpsbanksboostagilityandefficiency
oftheiroperations,andsignificantlyimprovescustomerexperience
acrosschannels.
Astudyoftop1,000globalbanksrevealedthatbankspoweredby
Finacleenjoy50%higherreturnsonassets,30%higherreturnson
capital,and8.1percentagepointlowercoststoincomethanothers.
TheCompanyisorganizingitssoftwareproductassetswithinan
integratedproductgroup,whichwillbepartofEdgeVerve,asubsidiary
ofInfosys.TheCompanythereforeproposestointegrateFinacle
businessintoEdgeVervewitheffectfromAugust01,2015.
EdgeVerve
EdgeVervedefines,developsandoperatesinnovative,cloudhosted
businessplatformsandsoftwareproductswhichareofferedtoclients
as''Payasyouuse''services.Wefocusonrealizingbusiness

outcomesforourclientsbydrivingtheirrevenuegrowth,
costeffectivenessandimprovedprofitability.Allourplatformsare
brandedundertheEdgeumbrella.
Platforms
Animportantpartofourstrategyisthecreationofthe''Infosys
Platform''whichconsistsoftheInfosysInformationPlatform(IIP)
andtheInfosysAutomationPlatform(IAP).Theseinturnconsistofa
numberofopensourcesoftwarecomponents,and/orInfosysproprietary
softwareproducts,allofwhichcanbedeployedonpublicorprivate
cloudoratthecustomer''spremise.IIPisintendedtoaddressthekey
challengesthatenterpriseshaveineffectivelystoring,managingand
analyzingtheincreasingamountsofdataavailabletobusiness
enterprises.Infosys''objectiveistouseIIPtohelpcustomersfindan
improvedwaytopackage,develop,administerandmonitortheir
enterprisedata.Becauseitisbasedonexisting,testedopensource
components,IIPoffersrapiddeploymentasabaseforabroadvariety
ofindustryspecificscenarios.Itisparticularlysuitedfor
deploymentinscenarioswhereacustomer''sexistingenvironmentlacks
scalabilityorspeedofreporting.
Quality
Wecontinueourjourneyofdeliveringvaluetoourclientsthrough
significantinvestmentsinqualityprograms.Whilesustainingexisting
externalbenchmarksandcertifications,wehaveaddednew
certificationsandfurtherenhancedourprogramsandinitiativesto
renewourcommitmenttothecultureofquality.
Wecontinuetoadheretointernationalqualitystandardcertifications
suchasISO9001:2008,ISO22301,ISO20000,ASEN9100,ISO13485,TL
9000SVOHSAS18001andISO14001.Wehavealsoreceivedanindependent
auditor''sassurancereportoncompliancetoISAE3402/SSAE16anda
certificationofcomplianceonPCIDSSV2.0forInfosysBPOLimited.We
alsogetassessedatCMMilevel5.AccordingtotheProcessMaturity
ProfilepublishedbytheCMMiInstituteofCarnegieMellonUniversity
inDecember2014,only7%of10,768organizationsgloballyare
operatingatLevel5,whichisthehighestlevelofprocessmaturity.
Infosysiscertifiedundervariousstandardstomeetclientdemandsand
enhancedeliveryvalue.InfosysLimitedandInfosysBPOLimitedare
certifiedfortherevisedISO27001:2013informationsecurity
standards.AspartofInfosys''contract,theCentralProcessingCenter
oftheGovernmentofIndia''sincometaxdepartmentwascertifiedfor
ISO27001.Followingthesuccessfulcompletionofexternalindependent
assuranceassessmentbasedonGRIG4comprehensiverequirements,
InfosysbecamethefirstITcompanytopublishasustainabilityreport
compliantwithGRIG4comprehensiveguidelines.
OurQualitydepartmenthandleslargechangemanagementinitiativesto
drivequalityandproductivityimprovementsacrosstheCompany,using
varioustechniquessuchasSixSigma,Leanmethodologyandengineering
leverslikeReuseandTools.Itisgovernedandmonitoredthroughthe
BalancedScorecardandvalidatedusingtheInfosysScalingOutstanding
Performance(iSOP)programadoptedfromtheMalcolmBaldridgeNational
QualityAward(MBNQA)framework.
OurBusinessValueArticulation(BVA)frameworkisaninitiative
comprisingframeworks,methodologies,processesandsystemstopromote
articulationandassuranceofbusinessvalueforvariousengagements.
TheBVAprogramhelpeduscreatesubstantialimpactonourclients.We
continuetofinetuneourClientValueSurveytocapturethevoiceof
ourcustomers,andtoassessclientexpectationsasanongoingprocess.
Thedatathatiscollectedisanalyzedaroundsatisfaction,advocacy,
loyalty,fulfillmentandvalueformoney,andhelpsusdrawaction
planstoimproveclientexperience.
Branding
TheInfosysbrandisakeyintangibleassetoftheCompanyThebranding
initiativeisdesignedtorepositionInfosysasthenextgeneration
servicescompanythatwouldhelpenterprisesrenewthemselveswhile
alsocreatingnewavenuestogeneratevalue.BrandInfosysisbeing
builtaroundthepremisethatsoftware,inaveryfundamentalway,is
reshapingtheworldaroundus.Andbecauseofthis,thereisaduality
thateverybusinessfacesontheonehand,theneedtorenewexisting
systems,toimprovetheireffectivenesswithnewtechnologiesand
innovation,andontheotherhand,theneedtodelivercompletelynew
kindsofservicesandnewsolutionsinnewwaysusingnextgeneration
technologies.Infosyshelpsitsclientsachievethisdualagendaina
cultureoflearning,creativityandpurpose.Itisthedeliveryofthis
brandpromisethatmakesustherighttechnologypartnerforclientsin
over50countries.BrandInfosyshasbeenrecognizedbyleading
publicationsandindependentindustrybodiesglobally.Weareregularly
ratedbyglobalindustryanalystsasaleaderinkeyservicesand
solutionsacrossdomains.RefertotheAwardsandrecognitionsection
inthisreport.
Ourmarketingreachextendsgloballythroughadvertisements,public
relationsanddigitalmarketinginitiatives.Weparticipateinpremier
businessandindustryeventsaroundtheworld.Wealsoorganize
signatureeventsandroundtablesacrossgeographies.''Confluence'',
ourflagshipclientevent,isconsistentlywellattendedandhighly
ratedbyourclientsandindustrypartners.
Awardsandrecognition
Infiscal2015,wereceivednumerousawardsandrecognition,both
internationalandnational.Hereisaquickglimpseofsomeofthem:

Businessandmanagement
Wewonthe2014ThomsonReutersIndiaInnovationAwardinthe
''HiTechCorporate''category.Thisawardhonorsorganizations
headquarteredinIndiafortheirspiritofinnovationinR&D.
Wewonthe2014AsiaIPEliteAward,whichrecognizescompanies
thatareleadingthewayinIPvaluecreationintheAsiaPacific
region.
InfosysAssistEdgeandOpenreach(infrastructuredivisionofBT)
wontheprestigiousAlsbridgeInnovationAward2014for''Customer
ServiceSeamlessDesktop''.
WetoppedAsiamoney''sCorporateGovernancePollinthe''domestic
country''category.ThepollwasexpandedtocoverAustraliaand
Vietnam,andisthelargestever,with322selectanalystsand
investorsvoicingtheiropinions.
AttheInstitutionalInvestor2014AllAsiaRankings,wewere
honoredwithseveralawardsintheITservicesandsoftwarecategories.
TherecognitionsincludedBestCFOandBestInvestorRelations.
Wewereincludedinthetoplistof''BusinessInnovationand
TransformationPartners''byLunendonk,aleadingGermanITand
consultingindustryanalystfirm.Only11companiesacrossallGerman
consultingandITcompaniesmakeittothispremiereleague.
WewontheDataSecurityCouncilofIndia(DSCI)ExcellenceAward
underthe''PrivacyinOutsourcingSector(ITITeS/BPM)''category.
WewerevotedIndia''sbestcompanyintheareasofcorporate
governanceandcommitmenttopayinggooddividends,whiletheInfosys
CFO,RajivBansal,waschosenasIndia''sbestCFOinFinanceAsia''s
Asia''sBestCompaniespoll,2015.
WewererecognizedbytheNeimanMarcusGroupasthe''2014
TechnologyPartneroftheYear''afterarigorousselectionprocess,
basedonfourparametersService,Quality,ValueandInnovation.
Wereceivedtheprestigious''DaimlerSupplierAward2014''for
OutstandingQualityintheprovisionofITDataCenterServices.
Wewerenamedthepartneroftheyearbyaleadingglobalretailer.
WewerenamedaleaderinTheForresterWave:BIService
Providers,Q42014.Wereceivedtopscoresforexperienceacross
multiplegeographiesandindustries,strategicinvestmentsinbusiness
intelligence,andtransparency.
WewerealsoinductedintotheWinner''sCircleinHfSResearch
EnterpriseAnalyticsServicesBlueprint.
InfosysBPOwonfourGoldAwardsattheTISSLeapVaultChief
LearningOfficersAwards2014inthecategories''BestGlobalL&DTeam
oftheYear'',''BestCorporateUniversity'',''BestVirtual
LearningProgram''and''BestInductionTrainingProgram''.
InfosysMcCamishwontheWorkflowManagementCoalition(WfMC)
GlobalAwardfor''ExcellenceinCaseManagementforInsurance''.
InfosysBPOwonthe2014GoldenPeacockNationalTrainingAward.It
wasalsodeclaredawinnerattheNationalInstitutionforQualityand
ReliabilityAwardsinIndia.
InfosysBPOandProcter&Gamblejointlywonthe2014Outsourcing
ExcellenceAward.
InfosysBPOreceivedanASTDExcellenceinPracticeinCoachingand
Mentoringcitation.
WewerenamedleadersintheMagicQuadrantforFinanceand
AccountingBPObyGartnerforthefourthconsecutiveyear.
WehavebeenidentifiedasaLeaderinNelsonHall''sVendor
EvaluationandAssessmentforapplicationoutsourcing.
Banking
Finaclewonfiveinternationalbankingexcellenceawardsin
partnershipwithitsclientsattheannualAsianBankerAwards2014.
Theseincludedtwoawardseachforcorebankingandchannelsolutions
implementation,andoneawardforitstreasurymanagement
implementation.
FinaclewasratedasaleaderinGartner''sMagicQuadrantfor
InternationalRetailCoreBanking2014fortheeighthtimeinarow.
Infosyswaspositionedatthehighestlevel,withintheLeaders
Quadrant,inabilitytoexecuteandfurthestincompletenessofvision.
FinacleemergedasaleaderinakeyindustryassessmentThe
ForresterWave:CustomerCentricGlobalBankingPlatforms,Q32014.
CEBTowerGroupratedFinacleeBankingandtradefinance
solutionsas''BestinClass''solutionsforcustomerexperience,
designandsecurity,andenterprisesupport.
FinaclewasalsojudgedawinnerbyJuniperResearchforthe2014
FutureMobileAwardsinthe''MobileBanking''category.
FinaclewasratedbyCEBTowerGroupanalystsas

''BestinClass''forbankuserservicesandenterprisesupport.
FinaclewasnamedaleaderintheIDCMarketScapeWorldwide
CoreBankingSolutions2014VendorAssessment:GlobalProvidersfor
NorthAmericanBanksduringtheyear.
ERPservices
WewerenamedleadersinGartner''sMagicQuadrantforOracle
ApplicationImplementationServices,Worldwideforourcompleteness
ofvisionandabilitytoexecute.
Wewerepositionedinthe''Winner''sCircle''oftheHfS
BlueprintSAPServices.
WewerenamedleadersintheIDCMarketScapeWorldwideOracle
ImplementationServicesEcosystem''s2014report.
Technologyinnovation
WewonHitachi''s''TechnicalArchitectTeamoftheYear''award
forexemplaryworkinarchitectinganinfrastructuretransformation
solutionforaleadingU.S.basedfinancialservicesprovider.
TheAmericanCouncilforTechnologyIndustryAdvisoryCouncil
(ACTIAC)selectedInfosys''MarketplaceasaServiceplatformasone
ofthetop30finalistsforits''IgnitingInnovation2015''awards.
Infosyswasawinnerinthe2014''SimulatingReality''contest
organizedbyMSCSoftware.ThewinningteamfromInfosysusedMSC''s
simulationtechnologiestobetterdiagnoseosteoporosisandaccurately
quantifyfracturerisk.
Healthcare
Wewerecitedas''LeaderandStarPerformer''inLifeSciences
ITOutsourcinginEverestGroup''sreport:ITOutsourcinginLife
SciencesServiceProviderLandscapewithPEAKMatrixAssessment
2014.
TheIndoAmericanChamberofCommercerecognizedInfosysfor
''ExcellenceinInnovation''and''ExcellenceinEnvironment,Health
&Safety''.
InfosysPublicServiceswonthe''HottestGovernmentContractor''
honoronJune24,2014atthe13thAnnualNorthernVirginiaTechnology
Council(NVTC)''HotTicketAwards''fordevelopinginnovative
solutionstohelpthegovernment.
InfosysPublicServiceswasranked16thinthe2014''Healthcare
Informatics100'',basedonrevenuesfromhealthcareITproductsand
services.
InfosysPublicServices''effortsinmodernizingthecoresystems
ofLongTermCarePartners(LTCP)tooptimizeoperationsandsupport
itsgrowthwereacknowledgedbyLTCP.
Diversity
TheWomenofColormagazinehonored13InfoscionsinOctober2014.
The''WomenofColorinTechnology''awardsisacompetitivenational
awardsprogramthatrecognizesandhonorstheexceptionalachievements
ofdistinguishedmulticulturalwomenwhoexcelinScience,Technology,
EngineeringandMathematics(STEM)intheU.S.
Wewonthe2014AsiaPacificHRMCongressAwardfor''Diversity
andHR''.
Sustainabilityawards
Oursustainabilityeffortswonusseveralawardsandaccoladesin
fiscal2015.Thesearesomeofthehighlights:
WewontheAshdenInternationalGoldAward,alsoknownasthe
''GreenOscars'',for''SustainableBuildings''.
Wewererecognizedforoureffortsinsustainabilityandawarded
theSolarGlobeAward,2014for''ExcellenceinSustainability''.
WewereawardedtheNDTVPropertyAwardforourSoftware
DevelopmentBlock(SDB)2and3intheHyderabadcampusunderthe
''MostEnvironmentFriendlyCommercial/OfficeSpace''category.
WewontheBryAirAwardunderthe''SystemDesign''categoryfor
ournextgenerationsmartbuildings.
TheBureauofEnergyEfficiencyawardedustheNationalEnergy
ConservationAwardforSDB1and2,twobuildingsinourMahindraCity
campus,andacertificateofmeritforSDB1inMahindraCityandSDB4
and6intheSholinganallurcampus,inChennai.
WewererankedthirdintheStatePollutionControlAwardgivenby
theKeralaStatePollutionControlBoardforoureffortsinpollution
controlandenvironmentalprotectionatourThiruvananthapuramcampus.
Wereceivedthefirstprizeinthe''LawnandGarden''category
intheDasaraPhalaPushpaDarshana2015forthe13thconsecutiveyear
forourMysuruDevelopmentCenter.
WewererecognizedbytheKarnatakaStatePollutionControlBoard
forthegreenbeltdevelopmentatourMangaluruNethraDevelopment

Center.
WewereplacedsecondintheEnvironment,Health&SafetyAward
givenbyCIIinthe''Office/Software/Service''categoryandalso
a4starratingforourBengaluruDevelopmentCenter.
Wewonthefirstprizeinthe''EnergyEfficiency''categoryfrom
theMaharashtraEnergyDevelopmentAgency(MEDA)forourPunePhase2
campusandsecondprizeforourPunePhase1campus.
3.Humanresourcesmanagement
ToensuregoodhumanresourcesmanagementatInfosys,wefocusonall
aspectsoftheemployeelifecycle.Thisprovidesaholisticexperience
fortheemployeeaswell.DuringtheirtenureattheCompany,employees
aremotivatedthroughvariousskilldevelopment,engagementand
volunteeringprograms.Allthewhile,wecreateeffectivedialogs
throughourcommunicationchannelstoensurethatthefeedbackreach
therelevantteams,includingtheleadership.Throughtheannual
employeeengagementsurvey(LITMUS2015),anumberoftrackswere
identifiedthisfiscal,andemployeeswereinvitedtobepartofthe
teamsthatactionizedthesetracks.Inaddition,aspecial,
crossfunctionalteamwasputinplacetoenhanceemployeeexperience
byrenewingsystemsandprocesses.Quarterlypromotions,100%variable
payoutfortwoconsecutivequarters,anExpertTracktoidentify
individualswhoaretechnicallyproficient,andauniquecrowdsourcing
initiativetogatherideasaroundinnovationweresomeofthe
interventionsmadetoengageanddevelopemployees.Interactionswith
theleadershipcontinuethroughemail,facetofaceinteractions,
videoconferencingandvideomessages.Wealsolaunchedthefirst
HackathonatInfosys,acrossourgloballocationstoencouragerapid
prototypingandproblemsolving,andbuildacultureofinnovation.
Wehavesetupascalablerecruitmentandhumanresourcesmanagement
process.Overthelastyear,onastandalonebasis,wereceived
13,80,283applicationsfromprospectiveemployees.TheInfosysGroup
added15,782(net)and53,386(gross)employeesthisyear,takingthe
totalstrengthto1,76,187from1,60,405attheendoftheprevious
year.
Onastandalonebasis,theattritionrateforfiscal2015standsat
18.9%comparedto18.7%forthepreviousyear.
Talentfulfillment
Lastyear,anewfunctionwasestablishedforidentifyingthebestfit
talentforanyprojectontime,throughthedeploymentofavailable
people,recruitmentandtraining.Overthelastoneyear,thishas
yieldedrichdividends.Ourabilitytostafftherightpeopleforour
businessneedshasimprovedsubstantiallyandatthesametime,talent
utilizationhasmovedupmaterially.Arobustsupplychainhasbeen
builtthatwillyielddividendsintheyearstocome.
Particularsofemployees
Thetablecontainingthenamesandotherparticularsofemployeesin
accordancewiththeprovisionsofSection197(12)oftheCompaniesAct,
2013,readwithRule5(1)oftheCompanies(Appointmentand
RemunerationofManagerialPersonnel)Rules,2014,isappendedas
Annexure3atotheBoard''sreport.
Astatementcontainingthenamesofeveryemployeeemployedthroughout
thefinancialyearandinreceiptofremunerationof''60lakhormore,
oremployedforpartoftheyearandinreceiptofRs.5lakhormorea
month,underRule5(2)oftheCompanies(AppointmentandRemuneration
ofManagerialPersonnel)Rules,2014,isenclosedasAnnexure3btothe
Board''sreport.
Education,trainingandassessment
LearningandeducationareatthefoundationofInfosys.Competency
developmentcontinuestobeakeyareaofstrategicfocusforus.
Welaunchednewtrainingprogramstoalignwiththenewbusiness
strategyofrenewandnew.Duringfiscal2015,thetotaltraining
providedforemployeeswasover3.36millionpersondays.Manyofour
employeesalsoundertookexternalcertifications,therebycreatinga
largepoolofcertifiedpeople.
Toenhancetheinnovationquotientamongtheworkforce,weconducted
theDesignThinkingprogramforover23,975employeesduringfiscal
2015,includingfreshrecruits.Inaddition,thetraininghasbeen
impartedtoclientteamsandleadershipteams.
Ourflagshipindustryacademiapartnershipprogram,CampusConnect,
madeprogressthroughthelaunchofelectivestohelpengineering
collegesrunnewprogramswithintheircurricula.Infiscal2015,we
engagedwith1,440facultymemberswhointurntrainedover34,655
students.Withthis,thetotalnumberofbeneficiariescoveredhas
reachedover11,886facultymembersandover3,30,643studentsfrom348
engineeringinstitutions.
SPARKisanacademiaconnectprogramthatexposesstudentsinschools
andcollegestothecurrentopportunitiesanddevelopmentsinITand
aimstoinspirethemandraisetheiraspirations.Aspartofthis
program,weengagedwithover38,460studentsduringtheyear.Since
itslaunchin2008,theprogramhasreachedover9,16,460students.
Over78,726studentsparticipatedinAspirations2020,thecoding
contestweconductforengineeringstudents,infiscal2015.
OurknowledgemanagementsystemsetanewrecordbywinningtheGlobal

MostAdmiredKnowledgeEnterprise(MAKE)awardforthe10thtime,Asian
MAKEawardforthe12thtimeandIndianMAKEawardforthe10thtime.
InfosysLeadershipInstitute
ThevisionoftheInfosysLeadershipInstitute(ILI)istobe
recognizedasagloballyrespectedinstitutionthatiscommittedto
developingleadersforInfosys.Thefocusoftheinstituteisto
developandprepareleadersoftheorganizationforcurrentandfuture
executiveleadershippositions.ILI''sleadershipdevelopmentmodel
includesthreedimensionstransformational,instrumentaland
transactionalleadershipwithInfosysvaluesatitscore.The
instituteemploysarangeofdevelopmentalapproachesincluding
classroomtraining,individualizedcoaching,and''leadersteach''
sessions.LeadersfromacrossInfosysanditssubsidiariesaretarget
beneficiariesofILI''sprograms.
4.Corporategovernance
Corporategovernanceisanethicallydrivenbusinessprocessthatis
committedtovaluesaimedatenhancinganorganization''sbrandand
reputation.Thisisensuredbytakingethicalbusinessdecisionsand
conductingbusinesswithafirmcommitmenttovalues,whilemeeting
stakeholders''expectations.AtInfosys,itisimperativethatour
companyaffairsaremanagedinafairandtransparentmanner.Thisis
vitaltogainandretainthetrustofourstakeholders.
Wecontinuetobenchmarkourcorporategovernancepolicieswiththe
bestintheworld.Oureffortsarewidelyrecognizedbyinvestorsin
Indiaandoverseas.Wehaveundergonethecorporategovernanceauditby
ICRAandCRISIL.ICRAhasratedourcorporategovernancepracticesat
CGR1andCRISILhasassignedCRISILGVCLevel1ratingtous.
WecomplywiththeSecuritiesandExchangeBoardofIndia(SEBI)''s
guidelinesoncorporategovernance.Wehavedocumentedourinternal
policiesoncorporategovernance.Duringtheyear,wecontinuedto
complywiththeU.S.SarbanesOxleyAct,2002.Severalaspectsofthe
Act,suchastheWhistleblowerPolicyandCodeofConductandEthics,
havebeenincorporatedintoourpolicies.OurCorporategovernance
reportforfiscal2015formspartofthisAnnualReport.
Boarddiversity
TheCompanyrecognizesandembracestheimportanceofadiverseboard
initssuccess.Webelievethatatrulydiverseboardwillleverage
differencesinthought,perspective,knowledge,skill,regionaland
industryexperience,culturalandgeographicalbackground,age,
ethnicity,raceandgender,whichwillhelpusretainourcompetitive
advantage.TheBoardhasadoptedtheBoardDiversityPolicywhichsets
outtheapproachtodiversityoftheBoardofDirectors.TheBoard
DiversityPolicyisavailableonourwebsite,
http://www.injosys.com/investors/corporategovernance/Pages/policies.aspx.
NumberofmeetingsoftheBoard
TheBoardmetninetimesduringthefinancialyear,thedetailsof
whicharegivenintheCorporategovernancereportthatformspartof
thisAnnualReport.Theinterveninggapbetweenanytwomeetingswas
withintheperiodprescribedbytheCompaniesAct,2013.
Policyondirectors''appointmentandremuneration
Thecurrentpolicyistohaveanappropriatemixofexecutiveand
independentdirectorstomaintaintheindependenceoftheBoard,and
separateitsfunctionsofgovernanceandmanagement.AsonMarch31,
2015,theBoardconsistsof10members,twoofwhomareexecutiveor
wholetimedirectors,andeightareindependentdirectors.TheBoard
periodicallyevaluatestheneedforchangeinitscompositionandsize.
ThepolicyoftheCompanyondirectors''appointmentandremuneration,
includingcriteriafordeterminingqualifications,positiveattributes,
independenceofadirectorandothermattersprovidedunderSubsection
(3)ofSection178oftheCompaniesAct,2013,adoptedbytheBoard,is
appendedasAnnexure4totheBoard''sreport.Weaffirmthatthe
remunerationpaidtothedirectorsisasperthetermslaidoutinthe
nominationandremunerationpolicyoftheCompany.
Declarationbyindependentdirectors
TheCompanyhasreceivednecessarydeclarationfromeachindependent
directorunderSection149(7)oftheCompaniesAct,2013,thathe/she
meetsthecriteriaofindependencelaiddowninSection149(6)ofthe
CompaniesAct,2013andClause49oftheListingAgreement.
Boardevaluation
Clause49oftheListingAgreementmandatesthattheBoardshall
monitorandreviewtheBoardevaluationframework.TheCompaniesAct,
2013statesthataformalannualevaluationneedstobemadebythe
Boardofitsownperformanceandthatofitscommitteesandindividual
directors.ScheduleIVoftheCompaniesAct,2013statesthatthe
performanceevaluationofindependentdirectorsshallbedonebythe
entireBoardofDirectors,excludingthedirectorbeingevaluated.
TheevaluationofallthedirectorsandtheBoardasawholewas
conductedbasedonthecriteriaandframeworkadoptedbytheBoard.
TheevaluationprocesshasbeenexplainedintheCorporategovernance
reportsectioninthisAnnualReport.TheBoardapprovedtheevaluation
resultsascollatedbythenominationandremunerationcommittee.
Noneoftheindependentdirectorsaredueforreappointment.

Trainingofindependentdirectors
EverynewindependentdirectoroftheBoardattendsanorientation
program.Tofamiliarizethenewinducteeswiththestrategy,operations
andfunctionsofourCompany,theexecutivedirectors/senior
managerialpersonnelmakepresentationstotheinducteesaboutthe
Company''sstrategy,operations,productandserviceofferings,markets,
softwaredelivery,organizationstructure,finance,humanresources,
technology,quality,facilitiesandriskmanagement.
TheCompanyhasaprogramtohelpitsdirectorsimprovetheirexpertise
ingovernancebyprovidingatrainingfeeofUS$5,000perannumfor
themtoattendcoursesonboardgovernanceheldbywellknownbusiness
schoolsinanypartoftheworld.
Further,atthetimeofappointmentofanindependentdirector,the
Companyissuesaformalletterofappointmentoutlininghis/herrole,
function,dutiesandresponsibilitiesasadirector.Theformatofthe
letterofappointmentisavailableonourwebsite,http://www.infosys.
com/investors/corporategovernance/Pages/policies.aspx.
Inductions
Ontherecommendationofthenominationandremunerationcommittee,the
BoardappointedDr.VishalSikkaasawholetimedirectorwitheffect
fromJune14,2014toJuly31,2014andasCEOandMDeffectiveAugust
1,2014.WethanktheshareholdersfortheirsupportinconfirmingDr.
VishalSikka''sappointmentattheExtraordinaryGeneralMeetingheldon
July30,2014.
Ontherecommendationsofthenominationandremunerationcommittee,
theBoardappointedProf.JohnWEtchemendyasanIndependentmemberof
theBoardeffectiveDecember04,2014.Wethanktheshareholdersfor
theirsupportinconfirmingProf.JohnWEtchemendy''sappointment
throughpostalballotonMarch2,2015.Thenominationand
remunerationcommitteealsorecommendedtheinductionofRoopaKudvaas
anindependentmemberoftheBoardonFebruary4,2015.RoopaKudvais
amemberofseveralpolicylevelcommitteesrelatingtotheIndian
financialsystem,includingcommitteesofSEBIandtheReserveBankof
India.Sheregularlyfeaturesinlistsofthemostpowerfulwomenin
businesscompiledbyprominentpublications,includingFortuneand
BusinessToday.Weseekyoursupportinconfirmingtheappointmentof
RoopaKudvaintheensuingAnnualGeneralMeeting.
Reappointments
AspertheprovisionsoftheCompaniesAct2013,U.B.PravinRao
retiresattheensuingAnnualGeneralMeetingandbeingeligible,seeks
reappointment.TheBoardrecommendshisreappointment.
TheCompaniesAct,2013,providesfortheappointmentofindependent
directors.Subsection(10)ofSection149oftheCompaniesAct,2013
providesthatindependentdirectorsshallholdofficeforatermofup
tofiveconsecutiveyearsontheboardofacompanyandshallbe
eligibleforreappointmentonpassingaspecialresolutionbythe
shareholdersoftheCompanyAccordingly,alltheindependentdirectors
exceptforRoopaKudva,whowasappointedasadditionaldirectoron
February4,2015,wereappointedbytheshareholderseitheratthe
generalmeetingorthroughpostalballotasrequiredunderSection
149(10).Further,accordingtoSubsection(11)ofSection149,no
independentdirectorshallbeeligibleforappointmentformorethan
twoconsecutivetermsoffiveyears.Subsection(13)statesthatthe
provisionsofretirementbyrotationasdefinedinSubsections(6)and
(7)ofSection152oftheActshallnotapplytosuchindependent
directors.
NoneoftheindependentdirectorswillretireattheensuingAnnual
GeneralMeeting.
Retirementsandresignations
B.G.SrinivasresignedaswholetimedirectorwitheffectfromJune
10,2014.TheBoardplacesonrecorditsappreciationfortheservices
renderedbyB.G.SrinivasduringhistenurewiththeCompany.
SrinathBatniresignedaswholetimedirectorwitheffectfromJuly31,
2014.TheBoardappreciatesandthankshimforhiseffortsindriving
deliveryandqualityexcellencefortheCompanyS.D.Shibulalresigned
asCEOandMDwitheffectfromJuly31,2014.S.D.Shibulalisa
cofounderoftheCompanyandhasplayedaseminalroleinshapingits
destinyTheBoardplacesonrecorditsgratitudefortheservices
renderedbyShibulalduringhislongassociationwiththeCompany
S.GopalakrishnanresignedasawholetimedirectorandExecutiveVice
ChairmanoftheBoardwitheffectfromJune14,2014andas
nonexecutiveViceChairmanwitheffectfromOctober10,2014.Asa
cofounder,hehascontributedtotheCompany''sprogressthroughthe
variousroleshehasplayedoverthelast33years.TheBoardthanks
himforhisguidanceandinvaluablecontribution.
NarayanaMurthyresignedasawholetimedirectorandExecutive
ChairmanoftheBoardwitheffectfromJune14,2014andas
NonExecutiveChairmanwitheffectfromOctober10,2014.TheBoard
placesonrecorditsdeepsenseofappreciationfortheservices
renderedbyNarayanaMurthy,whoisnotjustthefounderofthe
Company,butalsooneofthearchitectsoftheIndianITindustry.
NarayanaMurthyindicatedthatinlinewiththeCompany''shigh
corporategovernancestandardsandtoavoidanyperceivedconflicts,it
wouldnotbeappropriateforhimtobetheChairmanEmeritusof

Infosys.TheBoardacceptedhisdecisionandthankedhimforhis
vision,leadershipandguidanceinmakingInfosysagloballyrespected
company.
AnnM.FudgeretiredasindependentdirectorwitheffectfromJune14,
2014.TheBoardthanksherforprovidingvaluableguidancetothe
Companyduringhertenure.
Dr.OmkarGoswamiretiredasindependentdirectorwitheffectfrom
December31,2014.TheBoardplacesonrecorditssincereappreciation
forDr.OmkarGoswami''slongandfruitfulassociationwiththeCompany.
ParvatheesamKanchinadhamresignedastheChiefRisk&Compliance
OfficerandCompanySecretaryoftheCompany,witheffectfromJanuary
10,2015.TheBoardthanksParvatheesamforthemanyrolesheplayed
duringhistenurewiththeCompany.
CommitteesoftheBoard
Currently,theBoardhasfivecommittees:theauditcommittee,
nominationandremunerationcommittee,corporatesocialresponsibility
committee,stakeholdersrelationshipcommittee,andriskandstrategy
committee.Allcommittees,exceptthecorporatesocialresponsibility
committee,consistentirelyofindependentdirectors.
AdetailednoteontheBoardanditscommitteesisprovidedunderthe
CorporategovernancereportsectioninthisAnnualReport.The
compositionofthecommitteesandcompliances,aspertheapplicable
provisionsoftheActandRules,areasfollows:
Employees''stockoptions/Restrictedstockunits
TheCompanyhasa2011RSUPlanwhichprovidesforthegrantof
restrictedstockunits(RSUs)toeligibleemployeesoftheCompany.
TheBoardplacedtheproposalofinstitutingthe2011Plantothe
shareholdersonAugust30,2011,andtheshareholdersapprovedthe
proposalonOctober17,2011throughapostalballot.Themaximum
aggregatenumberofsharesthatmaybeawardedunderthePlanis
56,67,200(currentlyheldbytheInfosysLimitedEmployees''Welfare
Trustandadjustedforbonussharesissued)andtheplanshallcontinue
ineffectforatermof10yearsfromthedateofinitialgrantunder
theplan.TheRSUswillbeissuedatparvalueofequityshares.The
2011Planisadministeredbythemanagementdevelopmentand
compensationcommittee,nowknownasthenominationandremuneration
committee(''thecommittee''),andthroughtheInfosysLimited
Employees''WelfareTrust(''theTrust'').
DuringtheyearendedMarch31,2015,theCompanymadeagrantof
27,067RSUs(equivalentto54,134RSUsafteradjustingforbonusissue
madeinDecember2014)toDr.VishalSikka,ChiefExecutiveOfficerand
ManagingDirector.TheRSUswillvestoveraperiodoffouryearsfrom
thedateofthegrantintheproportionsspecifiedintheaward
agreement.TheRSUswillvestsubjecttotheachievementofcertainkey
performanceindicatorsassetforthintheawardagreementforeach
applicableyearofthevestingtrancheandcontinuedemploymentthrough
eachvestingdate.
Thedetailsoftheemployeestockoptions/RSUplanformpartofthe
notestoaccountsofthefinancialstatementsinthisAnnualReport.
Directors''responsibilitystatementasrequiredunderSection134(3)
(c)oftheCompaniesAct,2013
ThefinancialstatementsarepreparedinaccordancewiththeGenerally
AcceptedAccountingPrinciples(GAAP)underthehistoricalcost
conventiononaccrualbasisexceptforcertainfinancialinstruments,
whicharemeasuredatfairvalues.GAAPcomprisesmandatoryaccounting
standardsasprescribedunderSection133oftheCompaniesAct,2013
(''theAct''),readwithRule7oftheCompanies(Accounts)Rules,
2014,theprovisionsoftheAct(totheextentnotified)andguidelines
issuedbytheSecuritiesandExchangeBoardofIndia(SEBI).Thereare
nomaterialdeparturesfromprescribedaccountingstandardsinthe
adoptionofthesestandards.
Thedirectorsconfirmthat:
Inpreparationoftheannualaccountsforthefinancialyearended
March31,2015,theapplicableaccountingstandardshavebeenfollowed.
Thedirectorshaveselectedsuchaccountingpoliciesandapplied
themconsistentlyandmadejudgmentsandestimatesthatarereasonable
andprudentsoastogiveatrueandfairviewofthestateofaffairs
oftheCompanyattheendofthefinancialyearandoftheprofitand
lossoftheCompanyforthatperiod.
Thedirectorshavetakenproperandsufficientcaretowardsthe
maintenanceofadequateaccountingrecordsinaccordancewiththe
provisionsofthisActforsafeguardingtheassetsoftheCompanyand
forpreventinganddetectingfraudandotherirregularities.
Thedirectorshavepreparedtheannualaccountsonagoingconcern
basis.
Thedirectorshavelaiddowninternalfinancialcontrols,whichare
adequateandareoperatingeffectively.
Thedirectorshavedevisedpropersystemstoensurecompliancewith
theprovisionsofallapplicablelawsandsuchsystemsareadequateand
operatingeffectively.
Auditors''certificateoncorporategovernance

AsrequiredbyClause49oftheListingAgreement,theauditors''
certificateoncorporategovernanceisenclosedasAnnexure5tothe
Board''sreport.
5.Auditors
Statutoryauditors
AttheAnnualGeneralMeetingheldonJune14,2014,BSR&Co.LLP,
CharteredAccountants,wereappointedasstatutoryauditorsofthe
CompanytoholdofficetilltheconclusionoftheAnnualGeneral
Meetingtobeheldinthecalendaryear2018.Intermsofthefirst
provisotoSection139oftheCompaniesAct,2013,theappointmentof
theauditorsshallbeplacedforratificationateveryAnnualGeneral
Meeting.Accordingly,theappointmentofBSR&Co.LLP,Chartered
Accountants,asstatutoryauditorsoftheCompany,isplacedfor
ratificationbytheshareholders.Inthisregard,theCompanyhas
receivedacertificatefromtheauditorstotheeffectthatiftheyare
reappointed,itwouldbeinaccordancewiththeprovisionsofSection
141oftheCompaniesAct,2013.
Secretarialauditor
ParameshwarG.HegdeofHegde&Hegde,PracticingCompanySecretaries,
wasappointedtoconductthesecretarialauditoftheCompanyforthe
financialyear201415,asrequiredunderSection204oftheCompanies
Act,2013andRulesthereunder.ThesecretarialauditreportforFY
201415formspartoftheAnnualReportasAnnexure6totheBoard''s
report.
TheBoardhasappointedParameshwarG.Hegde,Hegde&Hegde,Practicing
CompanySecretaries,assecretarialauditoroftheCompanyforthe
financialyear201516.
Significantandmaterialorders
Therearenosignificantandmaterialorderspassedbytheregulators
orcourtsortribunalsimpactingthegoingconcernstatusandCompany''s
operationsinfuture.
Extractofannualreturn
InaccordancewithSection134(3)(a)oftheCompaniesAct,2013,an
extractoftheannualreturnintheprescribedformatisappendedas
Annexure7totheBoard''sreport.
Internalfinancialcontrol
TheBoardhasadoptedthepoliciesandproceduresforensuringthe
orderlyandefficientconductofitsbusiness,includingadherenceto
theCompany''spolicies,thesafeguardingofitsassets,theprevention
anddetectionoffraudsanderrors,theaccuracyandcompletenessof
theaccountingrecords,andthetimelypreparationofreliable
financialdisclosures.
6.Corporatesocialresponsibility
Infosyshasbeenanearlyadopterofcorporatesocialresponsibility
initiatives.Alongwithsustainedeconomicperformance,environmental
andsocialstewardshipisakeyfactorforholisticbusinessgrowth.
TheCompanyworkswithInfosysFoundationtowardsremoving
malnutrition,improvinghealthcareinfrastructure,supportingprimary
education,rehabilitatingabandonedwomenandchildren,andpreserving
Indianartandculture.
Overtheyears,wehavebeenstrivingtoachieveafinebalanceof
economic,environmentalandsocialimperatives,whilealsopaying
attentiontotheneedsandexpectationsofourinternalaswellas
externalstakeholders.Ourcorporatesocialresponsibilityisnot
limitedtophilanthropy,butencompassesholisticcommunity
development,institutionbuildingandsustainabilityrelated
initiatives.
AspertheCompaniesAct,2013,allcompanieshavingnetworthofRs.500
croreormore,orturnoverofRs.1,000croreormoreoranetprofitof
Rs.5croreormoreduringanyfinancialyeararerequiredtoconstitute
acorporatesocialresponsibility(CSR)committeeoftheBoardof
Directorscomprisingthreeormoredirectors,atleastoneofwhom
shouldbeanindependentdirectorandsuchCompanyshallspendatleast
2%oftheaveragenetprofitsoftheCompany''sthreeimmediately
precedingfinancialyear.Accordingly,wespentRs.243croretowardsour
CSRactivitiesinfiscal2015.
OurCSRcommitteecomprisesK.VKamath(Chairperson),R.Seshasayee,
KiranMazumdarShawandDr.VishalSikka.Thecommitteeisresponsible
forformulatingandmonitoringtheCSRpolicyoftheCompany.
CSRactivities,aspertheprovisionsoftheCompaniesAct,2013,may
beundertakenbytheCompanythrougharegisteredtrustoraregistered
society.In1996,InfosyssetuptheInfosysFoundation(''the
Foundation'')asanotforprofittrust.TheFoundationworksclosely
withandsupportstheBoardandthecommitteeinidentifyingand
implementingCSRactivities.TheFoundationalsoassiststheBoardand
thecommitteeinreportingprogressofdeployedinitiativesandin
makingappropriatedisclosures(internal/external)onaperiodic
basis.
DetailsabouttheCSRpolicyandinitiativestakenbytheCompanyon
CorporateSocialResponsibilityduringtheyearisavailableonour
website,http://www.injosys.com/investors/corporategovernance/Pages/

policies.aspx.TheannualreportonourCSRactivitiesisappendedas
Annexure8totheBoard''sreport.
InfosysFoundation
TheInfosysFoundationwasestablishedin1996asanotforprofit
trusttoconductsocialwelfareactivities.Overtheyears,the
Foundationhasinitiated,guidedandconductedseveralprogramsin
education,healthcare,disasterreliefandruraldevelopment.
Infiscal2015,theFoundation''sworkspannedawiderangeof
activitiessuchassponsoringvariousorganizationsthatpromotelocal
artsandculture,fundingprofessorshipsandscholarshipsatinstitutes
ofhighereducation,fundingcommunityhealthcareinitiativesin
Chennai,BengaluruandMumbai,andaidingwelfareinitiativesinremote
ruralareasandtribalareasinArunachalPradeshandOdisha.The
Foundationalsosponsoredprogramsprovidingforthecareofthe
destituteinseveralstates.AmoredetailedreportontheFoundation''s
activitiesduringfiscal2015formspartoftheInfosysFoundation''s
reportandisavailableonourwebsite,www.infosys.com.
WewouldliketothankthehonorarytrusteesoftheFoundation,who
continuetodevotetheirvaluabletimeandenergyinplanning,
directingandmonitoringitsactivities.
InfosysFoundationUSA
TheInfosysFoundationUSA''s(''theFoundation'')proposedcharter
wasapprovedbytheCSRCommitteeoftheBoardinJanuary2015witha
focusonbridgingthedigitaldivideintheU.S.Thetrusteesof
InfosysFoundationUSAareVandanaSikka(Chairperson),SudhaMurtyand
SandeepDadlani.TheFoundationiscommittedtomakingquality
computingeducationwidelyandeasilyaccessibletoeveryone
irrespectiveofexposure,lackofresources,priorskillsor
proficiency.FromenablingcomputereducationinK12,tosupporting
researchincomputerscience,andempoweringadultswithITtraining
thatenhancestheiremployability,theFoundationisonamissionto
catalyzeahumanrevolution.AninitialoutlayofUS$10millionwas
approvedfortheFoundation''sactivitiesbytheCSRcommitteeofthe
Board.Duringfiscal201415,theFoundationdisbursedUS$126,378
towardsvariousCSRactivities.
TheACMInfosysFoundationAward
TheACM,AssociationforComputingMachinery,andtheInfosys
Foundationawardsetupin2007recognizesthefinestrecent
innovationsbyyoungscientistsandsystemdevelopersinthecomputing
fieldeachyear.AnendowmentfromtheInfosysFoundationprovides
financialsupportfortheUS$175,000annualaward.
DanBoneh,professorofComputerScienceandElectricalEngineeringat
StanfordUniversity,wonthe2014awardforhiscontributionstothe
groundbreakingdevelopmentofpairingbasedcryptographyandits
applicationinidentitybasedencryption.Hisworkestablishedthe
fieldofpairingbasedcryptography,thedominantareaincryptography
forthelastdecade,bydemonstratingtheuseofpairingfunctionsto
solvewidevarietyofproblemsincryptography.Boneh,withMatt
Franklin,showedhowpairingscouldbeusedtodevelopafully
functionalidentitybasedencryptionscheme(IBE).Thisusheredina
wholenewareaofcryptographyresearchtowhichBoneh''scontributions
havebeencentral.IBEmakessecuritymechanismseasiertouseand
deploy,andimprovescomputersecuritytokeepdata,devicesand
criticalsystemssafe,privateandaccessible.
Sustainabilityinitiatives
Oursustainabilitycharterisdrivenbyourcorevaluesandethics.
Oursustainabilityactionsencompasseconomic,socialandenvironmental
dimensions.
Wecontinuetoadvocateandinfluencepositiveandaffirmative
sustainabilityactionsacrosstheglobe.OurCEOandMD,Dr.Vishal
Sikka,andseveralseniorleadersparticipatedintheWorldEconomic
ForuminDavosinJanuary2015,andengagedindiscussionswithglobal
leadersonthisyear''stheme,''Thenewglobalcontext''.
AfterInfosysbecamethefirstITCompanyintheworldtopublisha
sustainabilityreportusingtheGlobalReportingInitiative(GRI)G4
comprehensiveguidelinesin2014,GRIFocalPointIndiainvitedInfosys
tocofacilitateworkshopstoshareourlearnings.
Workingwiththecommunitytofacilitatelargersocialdevelopmentis
partoftheInfosysculture.Itisdeeplyingrainedintheethosofthe
Companyandamplifiedthroughactions,championedbyleaders
themselves.
ThroughourorganizationledprojectssuchasCampusConnect,Rural
ReachandSPARK,wehavesuccessfullyharnessedourreachandresources
toencouragestudentsinruralIndiatopursuehighereducation,
provideinfrastructureforgovernmentschools,andtrainfacultyacross
schoolsandcolleges.Weworkcloselywitheducationalinstitutions
acrossthecountrytoimproveaccesstoqualityeducationofferedin
schoolsanduniversities.
Infosysalsoprovidesaplatformforemployeestoengagein
volunteeringatourDevelopmentCenters(DCs)aroundtheworldwhere
theyarebased.TheCSRandEcoClubsworkwithlocalinitiativesand
arepoweredentirelybyemployeesinthatlocation.
Thisyear,theCleanIndiaCampaignsparkedoffachainofprograms
cleanlinessoftheheart,mind,body,surroundingsandneighborhoods

whichwasrolledoutinmostofourcampusesacrossIndia.
Ontheenvironmentalfront,focusedeffortsonsmartbuildingsystems,
retrofits,newbuildingdesignswithaneffectiveenvelope,and
renewableenergy,havesignificantlyreducedourenergyconsumptionin
thelastsevenyears.Wepioneeredtheradiantcoolingtechnologyin
Indiathroughradiantslabandradiantpanelbasedcoolingsystems.We
haveinstalledsmartwatermetersacrossourcampuses.Wehavebeen
persistentinoureffortstoensurereuse,recyclingandresponsible
disposalofwastetominimizetheamountofwastegoingtolandfills.
Inoureffortstoachieveourgoalofsourcing100%ofourelectricity
requirementsfromrenewablesbyfiscal2018,wehavecontinuedto
investinsolarenergyacrossourcampuses.
Conservationofenergy,researchanddevelopment,technology
absorption,foreignexchangeearningsandoutgo
TheparticularsasprescribedunderSubsection(3)(m)ofSection134
oftheCompaniesAct,2013,readwiththeCompanies(Accounts)Rules,
2014,areenclosedasAnnexure9totheBoard''sreport.
BusinessResponsibilityReport
SEBI,videitscircularCIR/CFD/DIL/8/2012datedAugust13,2012,
mandatedinclusionoftheBusinessResponsibilityReport(BRR)aspart
oftheAnnualReportforlistedentities.Incompliancewiththesaid
circular,wehaveprovidedtheBRRaspartofourAnnualReport.We
alsopublishtheInfosysSustainabilityReportannually.Ourreport
followstheGRIG4framework.Thisisacomprehensivereportthat
coversallaspectsofoursustainabilityactivities.Thereportis
auditedbyanexternalauditor,DetNorskeVeritasGermanischerLloyd
(DNVGL).
Greeninitiatives
Duringfiscal2011,westartedasustainabilityinitiativewiththeaim
ofgoinggreenandminimizingourimpactontheenvironment.Likethe
previousyears,thisyeartoo,wearepublishingonlythestatutory
disclosuresintheprintversionoftheAnnualReport.Additional
informationisavailableonourwebsite,www.infosys.com.
ElectroniccopiesoftheAnnualReport201415andNoticeofthe34th
AnnualGeneralMeetingaresenttoallmemberswhoseemailaddresses
areregisteredwiththeCompany/DepositoryParticipant(s).For
memberswhohavenotregisteredtheiremailaddresses,physicalcopies
oftheAnnualReport2015andtheNoticeofthe34thAnnualGeneral
Meetingaresentinthepermittedmode.Membersrequiringphysical
copiescansendarequesttotheCompany.
TheCompanyprovidesevotingfacilitytoallitsmemberstoenable
themtocasttheirvoteselectronicallyonallresolutionssetforthin
theNotice.ThisispursuanttoSection108oftheCompaniesAct,2013
andRule20oftheCompanies(ManagementandAdministration)Amendment
Rules,2015.TheinstructionsforevotingareprovidedintheNotice.
InfosysScienceFoundation
TheInfosysScienceFoundation(ISF),anotforprofittrust,wasset
upin2009byInfosys,itsfoundersandafewofitsmanagement,to
promoteresearchinthesciences.TheInfosysPrize,institutedbythe
ISF,recognizesexemplaryresearchbyscholarsandscientistsconnected
toIndia.IthopestoinspireyoungIndianstochooseavocationin
scientificresearch.
TheprizecategoriesandthenamesofthewinnersoftheInfosysPrize
2014areasfollows:
CategoryWinners
EngineeringandProf.JayantHaritsa
ComputerScienceIndianInstituteofSdenceIndia
HumanitiesProf.ShamnadBasheer
IncreasingDiversityby
IncreasingAccess/SpicyIPIndia
LifeSciencesProf.ShubhaTole
TataInstituteofFundamental
Research,India
MathematicalProf.MadhuSudan
SciencesMassachusettsInstituteof
Technology/Microsoft,U.S.
PhysicalSciencesDr.SrivariChandrasekhar
CouncilofScientificandIndustrial
ResearchIndianInstituteof
ChemicalTechnology,India
SocialSciencesProf.EstherDuflo
MassachusettsInstituteofTechnology/
AbdulLatifJameelPovertyActionLab,U.S.
TheInfosysPrize2014presentationceremonywasheldinKolkataatTaj
BengalonJanuary5,2015.ThePresidentofIndia,PranabMukherjee,
congratulatedthewinnersandsentavideoaddressthatwasplayedat
theceremony.TheChiefGuest,NobelLaureateeconomist,Prof.Amartya
Sen,felicitatedthelaureatesinthesixcategorieswitha22karat
goldmedal,acitationandaprizepurseofRs.65lakh,taxfreein
India.TheprizemoneywasincreasedfromRs.55lakhtoRs.65lakhthis
year.ISFalsohoststheInfosysScienceFoundationlectures

(nationwidepublictalksbyjurorsandlaureatesoftheInfosysPrize
ontheirwork),schooleventsandcontestsinthehopeofcapturingthe
attentionandimaginationoftheyouth.Inkeepingwithitsmissionof
popularizingscienceinIndia,theISFinstitutedanewprogram,
Gnanadeepa,totrainmiddleschoolmathematicsandscienceteachers
fromruralareas.HeldatInfosys,Mysuru,thepilotinitiallytargeted
500governmentschoolteachersinKarnatakaandwasattendedbyover
630participantsfromall34educationaldistrictsinthestate.For
moredetailsontheactivitiesandthetrusteesoftheInfosysScience
Foundation,visitourwebsite,www.infosyssciencefoundation.com.
Acknowledgments
Wethankourcustomers,vendors,investorsandbankersfortheir
continuedsupportduringtheyear.Weplaceonrecordourappreciation
ofthecontributionmadebyouremployeesatalllevels.Ourconsistent
growthwasmadepossiblebytheirhardwork,solidarity,cooperation
andsupport.Wethankthegovernmentsofvariouscountrieswherewe
haveouroperations.WealsothanktheGovernmentofIndia,
particularlytheMinistryofCommunicationandInformationTechnology,
theMinistryofCommerce,theMinistryofFinance,theMinistryof
CorporateAffairs,theCustomsandExciseDepartments,theIncomeTax
Department,theReserveBankofIndia,theStateGovernments,the
SoftwareTechnologyParks(STPs)/SpecialEconomicZones(SEZs)
Bengaluru,Bhubaneswar,Chandigarh,Chennai,Gurgaon,Hyderabad,
Indore,Jaipur,Mangaluru,Mysuru,Nagpur,Noida,Pune,and
Thiruvananthapuramandothergovernmentagenciesfortheirsupport,and
lookforwardtotheircontinuedsupportinthefuture.
forandonbehalfoftheBoardofDirectors
K.V.KamathDr.VishalSikkaR.Seshasayee
ChennaiChairmanChiefExecutive
OfficerandDirector
April24,2015ManagingDirector

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