Overall performance measures Infosys

30.00 20

18

25.00
16

14
20.00

12
ROA,ROIC,ROE

15.00 10

P/E
8

10.00
6

4
5.00

0.00 0
2013 2014 2015 2016

Standalone ROA Standalone ROIC Standalone ROE standalone P/E Ratio

Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
Mar-16 Mar-15 Mar-14

12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 1,148.00 574 286
Total Share Capital 1,148.00 574 286
Reserves and Surplus 56,009.00 47,494.00 41,806.00
Total Reserves and Surplus 56,009.00 47,494.00 41,806.00
Total Shareholders Funds 57,157.00 48,068.00 42,092.00
NON-CURRENT LIABILITIES
Deferred Tax Liabilities [Net] 0 0 0
Other Long Term Liabilities 73 30 364
Total Non-Current Liabilities 73 30 364
CURRENT LIABILITIES
Trade Payables 623 124 68
Other Current Liabilities 6,105.00 5,546.00 4,071.00
Short Term Provisions 8,809.00 8,045.00 6,117.00
Total Current Liabilities 15,537.00 13,715.00 10,256.00
Total Capital And Liabilities 72,767.00 61,813.00 52,712.00
ASSETS
NON-CURRENT ASSETS
Tangible Assets 8,248.00 7,347.00 5,719.00
Intangible Assets 0 0 13
Capital Work-In-Progress 934 769 954
Fixed Assets 9,182.00 8,116.00 6,686.00
Non-Current Investments 11,111.00 6,108.00 3,968.00
Deferred Tax Assets [Net] 405 433 542
Long Term Loans And Advances 5,970.00 4,378.00 2,227.00
Other Non-Current Assets 2 26 52
Total Non-Current Assets 26,670.00 19,061.00 13,475.00
CURRENT ASSETS
Current Investments 2 749 2,749.00
Trade Receivables 9,798.00 8,627.00 7,336.00
Cash And Cash Equivalents 29,176.00 27,722.00 24,100.00
Short Term Loans And Advances 7,121.00 3,231.00 2,660.00
OtherCurrentAssets 0 2,423.00 2,392.00
Total Current Assets 46,097.00 42,752.00 39,237.00
Standalone Total Assets 72,767.00 61,813.00 52,712.00
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 1,512.00 1,461.00 1,020.00
CIF VALUE OF IMPORTS
Trade/Other Goods 3 3 3
Capital Goods 391 415 374
EXPENDITURE IN FOREIGN EXCHANGE
Expenditure In Foreign Currency 26,138.00 21,627.00 21,400.00
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency 952 647 369
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods 52,860.00 46,153.00 43,150.00
Other Earnings 6 5 7
BONUS DETAILS
Bonus Equity Share Capital 1,128.66 554.66 267.66
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value - 1,269.00 -
Non-Current Investments Unquoted Book Value 9,578.00 4,874.00 2,668.00
CURRENT INVESTMENTS
Current Investments Quoted Market Value - - -
Current Investments Unquoted Book Value - 749 2,649.00

Standalone Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14

12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 53,983.00 47,300.00 44,341.00
Revenue From Operations [Net] 53,983.00 47,300.00 44,341.00
Total Operating Revenues 53,983.00 47,300.00 44,341.00
Other Income 3,009.00 3,337.00 2,576.00
Total Revenue 56,992.00 50,637.00 46,917.00
EXPENSES
Operating And Direct Expenses 6,029.00 4,284.00 3,990.00
Employee Benefit Expenses 28,206.00 25,115.00 24,350.00
Depreciation And Amortisation Expenses 1,115.00 913 1,101.00
Other Expenses 3,985.00 3,939.00 3,474.00
Total Expenses 39,335.00 34,251.00 32,915.00

Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 17,657.00 16,386.00 14,002.00
Exceptional Items 3,036.00 412 0
Profit/Loss Before Tax 20,693.00 16,798.00 14,002.00
Tax Expenses-Continued Operations
Current Tax 4,898.00 4,537.00 4,063.00
Deferred Tax 9 97 -255
Total Tax Expenses 4,907.00 4,634.00 3,808.00
Profit/Loss After Tax And Before ExtraOrdinary Items 15,786.00 12,164.00 10,194.00
Profit/Loss From Continuing Operations 15,786.00 12,164.00 10,194.00
Profit/Loss For The Period 15,786.00 12,164.00 10,194.00
Mar-16 Mar-15 Mar-14

12 mths 12 mths 12 mths

OTHER ADDITIONAL INFORMATION

EARNINGS PER SHARE
Basic EPS (Rs.) 68.73 105.91 178.39
Diluted EPS (Rs.) 68.73 105.91 178.39
VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS
STORES, SPARES AND LOOSE TOOLS
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 5,570.00 5,111.00 3,618.00
Tax On Dividend 1,134.00 1,034.00 615
Equity Dividend Rate (%) 485 1,190.00 1,260.00

Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14

12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 1,144.00 572 286
Total Share Capital 1,144.00 572 286
Reserves and Surplus 56,682.00 50,164.00 44,244.00
Total Reserves and Surplus 56,682.00 50,164.00 44,244.00
Total Shareholders Funds 57,826.00 50,736.00 44,530.00
NON-CURRENT LIABILITIES
Other Long Term Liabilities 126 50 405
Total Non-Current Liabilities 126 50 405
CURRENT LIABILITIES
Trade Payables 386 140 173
Other Current Liabilities 7,601.00 6,920.00 5,449.00
Short Term Provisions 9,202.00 8,443.00 6,409.00
Total Current Liabilities 17,189.00 15,503.00 12,031.00
Total Capital And Liabilities 75,141.00 66,289.00 56,966.00
ASSETS
NON-CURRENT ASSETS
Tangible Assets 8,637.00 7,685.00 6,056.00
Intangible Assets 4,543.00 3,661.00 2,322.00
Capital Work-In-Progress 960 776 961
Fixed Assets 14,140.00 12,122.00 9,339.00
Non-Current Investments 1,817.00 1,398.00 1,307.00
Deferred Tax Assets [Net] 533 536 629
Long Term Loans And Advances 6,832.00 4,906.00 2,560.00
Other Non-Current Assets 66 85 53
Total Non-Current Assets 23,388.00 19,047.00 13,888.00
CURRENT ASSETS
Current Investments 75 872 3,024.00
Trade Receivables 11,330.00 9,713.00 8,351.00
Cash And Cash Equivalents 32,697.00 30,367.00 25,950.00
Short Term Loans And Advances 7,651.00 6,290.00 5,753.00
Total Current Assets 51,753.00 47,242.00 43,078.00
Consolidated Total Assets 75,141.00 66,289.00 56,966.00
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 1,905.00 1,881.00 1,582.00
BONUS DETAILS
Bonus Equity Share Capital 1,131.67 555.67 267.67
NON-CURRENT INVESTMENTS
Non-Current Investments Unquoted Book Value 218 94 6
CURRENT INVESTMENTS
Current Investments Unquoted Book Value 68 842 2,881.00

Consolidated Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14

12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 62,441.00 53,319.00 50,133.00
Revenue From Operations [Net] 62,441.00 53,319.00 50,133.00
Total Operating Revenues 62,441.00 53,319.00 50,133.00
Other Income 3,128.00 3,430.00 2,664.00
Total Revenue 65,569.00 56,749.00 52,797.00
EXPENSES
Operating And Direct Expenses 5,584.00 3,636.00 3,437.00
Employee Benefit Expenses 34,418.00 29,802.00 28,831.00
Depreciation And Amortisation Expenses 1,266.00 1,017.00 1,317.00
Other Expenses 5,319.00 5,010.00 4,484.00
Total Expenses 46,587.00 39,465.00 38,069.00
Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax 18,982.00 17,284.00 14,728.00
Profit/Loss Before Tax 18,982.00 17,284.00 14,728.00
Tax Expenses-Continued Operations
Current Tax 5,315.00 4,835.00 4,308.00
Deferred Tax -14 76 -236
Total Tax Expenses 5,301.00 4,911.00 4,072.00
Profit/Loss After Tax And Before ExtraOrdinary Items 13,681.00 12,373.00 10,656.00
Profit/Loss From Continuing Operations 13,681.00 12,373.00 10,656.00
Profit/Loss For The Period 13,681.00 12,373.00 10,656.00
Share Of Profit/Loss Of Associates -3 -1 0
Consolidated Profit/Loss After MI And Associates 13,678.00 12,372.00 10,656.00
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) 60 108 186
Diluted EPS (Rs.) 60 108 186
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 5,542.00 5,090.00 3,605.00
Tax On Dividend 1,134.00 1,034.00 615
 Mar-13 Mar-12

12 mths 12 mths

287 287
287 287
35,772.00 29,470.00
35,772.00 29,470.00
36,059.00 29,757.00

56 0
120 0
176 0

178 0
2,827.00 2,454.00
3,788.00 3,604.00
6,793.00 6,058.00
43,028.00 35,815.00

4,425.00 4,061.00
28 0
1,135.00 588
5,588.00 4,649.00
2,764.00 1,409.00
378 189
1,529.00 0
31 0
10,290.00 6,247.00

1,580.00 0
6,365.00 5,404.00
20,401.00 18,057.00
2,175.00 4,594.00
2,217.00 1,513.00
32,738.00 29,568.00
43,028.00 35,815.00
 1,693.00 1,024.00

3 0
307 0

16,834.00 13,532.00

344 -

36,020.00 31,187.00
87 -

267.66 267.66

317 -
2,456.00 1,409.00

- -
1,580.00 -

Mar-13 Mar-12

12 mths 12 mths

36,765.00 31,254.00
36,765.00 31,254.00
36,765.00 31,254.00
2,215.00 1,829.00
38,980.00 33,083.00

2,969.00 3,947.00
19,932.00 15,481.00
956 794
2,849.00 1,765.00
26,706.00 21,987.00

12,274.00 11,096.00
83 484
 12,357.00 11,580.00

3,361.00 3,110.00
-120 0
3,241.00 3,110.00
9,116.00 8,470.00
9,116.00 8,470.00
9,116.00 8,470.00
Mar-13 Mar-12

12 mths 12 mths

158.76 147.51
158.76 147.5

2,412.00 2,699.00
403 438
840 940

Mar-13

12 mths

286
286
37,708.00
37,708.00
37,994.00
56
182
238

189
3,941.00
 3,969.00
8,099.00
46,331.00

4,807.00
2,332.00
1,140.00
8,279.00
377
469
1,832.00
31
10,988.00

1,739.00
7,083.00
21,832.00
4,689.00
35,343.00
46,331.00d Total Assets 46,331.00 56,966.00 66,289.00

2,250.00

267.67

387
6

1,739.00

Mar-13

12 mths

40,352.00
40,352.00
40,352.00
2,365.00
42,717.00

2,742.00
22,565.00
1,099.00
3,512.00
29,918.00
12,799.00
12,799.00 1.30

3,518.00
-148 0.182031115
3,370.00
9,429.00
9,429.00
9,429.00

9,429.00

165
165

2,397.00
403
standalone financial statement analysis
Ratios

Operating profit standalone financial statementoperating pr

OPM standalone financial statement OPM
Market price standalone financial statement analysis
P/E standalone P/E Ratio
ROA Standalone ROA
ROIC Standalone ROIC
Return on shareholders Equity Standalone ROE
Gross Margin % standalone gross margin
Profit Margin standalone profit margin
EPS standalone EPS
Cash generated from operations standalone financial statement analysis
Cash Realization standalone financial statement analysis
Asset Turnover Standalone asset turnover
Invested Capital turnover Standalone IC turnover
Equity turnover standalone Equity turnover
Capital Intensity standalone financial statement analysis
Day's Cash standalone financial statement analysis
Day's Receivables standalone financial statement analysis
Day's Inventory standalone financial statement analysis
Inventory turnover standalone financial statement analysis
Working capital turnover standalone financial statement analysis
Current Ratio standalone financial statement Current rat
Acid test Ratio standalone financial statement analysis
Financial leverage ratio standalone financial statement FLR
Debt/Equity standalone fDebt/Equity
Debt/Capitalization standalone financial statement analysis
Times interest earned standalone financial statement analysis
Cash flow/debt standalone financial statement analysis
Dividend/share standalone financial statement analysis
Dividend yield standalone financial statement analysis
Dividend payout standalone financial statement analysis

Standalone Total Assets

Consolidated Total Assets
 0.4
Standalone statement profitability measure
0.4 0.35

0.35
0.3

0.3
0.25
0.25

0.2 0.2

0.15 0.15

0.1
0.1
0.05

0.05
0
2013 2014 2015

0
standalone gross margin standalone profit margin standalo
2013 2014

standalone financial statementoperating profit

standalone financial statement OPM
 2013
Basic EPS (Rs.) 158.76
75,141.00
 2013 2014 2015 2016
11,015.00 12,099.00 13,864.00 13,864.00
0.299605603155175 0.3608624072529 0.378456659619 0.365818868903
722.34 820.7 1109.18 1218.3
4.54988662131519 4.600594203711 10.47285431026 17.7258838935
21.19 19.34 19.68 21.69
25.16 24.01 25.29 27.58
25.28 24.22 25.31 27.62
0.377097783217734 0.3608624072529 0.378456659619 0.365818868903
0.247953216374269 0.2299000924652 0.257167019027 0.292425393179
158.76 178.39 105.91 68.73
6942 9148 7955 9399
1.31316623451455 1.1143419326629 1.529101194217 1.679540376636
0.854443618109138 0.8411936560935 0.765211201527 0.74
1.01619724149368 1.0443989071038 0.98340887355 0.943264022366
1.01957902326742 1.0534305806329 0.984022634601 0.944468743986
8.30847457627119 7.7532785452002 6.43800190554 6.544980601358
1072.65413425526 961.57630083078 1271.971087366 1133.018406213
63.1912144702842 60.387451794051 66.57198731501 66.24807809866

1.41703603777221 1.5300024153756 1.628956159383 1.766459424084

4.81937288385102 3.8257605304212 3.117170980678 2.966917680376
4.26041513322538 3.3244929797192 2.885891359825 2.966788955397
1.19326659086497 1.2523044759099 1.285949072148 1.273107405917
0.193266590864971 0.2523044759099 0.285949072148 0.273107405917
0.003316841261505 0.0085735820614 0.000623726558 0.001275554779

42 63 59.5 24.25

43,028.00 52,712.00 61,813.00 72,767.00

46,331.00 56,966.00 66,289.00 75,141.00
 25,000.00
e statement profitability measure 30.00
200
25.00
180 20,000.00
20.00
160

140 15.00
15,000.00
120 10.00
100
5.00
80 10,000.00
0.00
60 2013 2014

40 Standalone ROA St
5,000.00
20

0
014 2015 2016

rgin standalone profit margin standalone EPS 0.00

2013 2014 2015 2016

standalone financial statementoperating profit Consolidated financial statement operating profit

standalone financial statement OPM Consolidated financial statement (OPM)
 2014 2015 2016
178.39 105.91 68.73
Consolidated financial statement analysis
Ratios

Operating profit Consolidated financial statement operating p

OPM Consolidated financial statement (OPM)
Market price Consolidated financial statement analysis
P/E Consolidated P/E
ROA Consolidated ROA
ROIC Consolidated ROIC
Return on shareholders Equity Consolidated ROE
Gross Margin % Consolidated gross margin
Profit Margin Consolidated profit margin
EPS Consolidated EPS
Cash generated from operations Consolidated financial statement analysis
Cash Realization Consolidated financial statement analysis
Asset Turnover Consolidated asset turnover
Invested Capital turnover Consolidated IC turnover
Equity turnover Consolidated Equity turnover
Capital Intensity Consolidated financial statement analysis
Day's Cash Consolidated financial statement analysis
Day's Receivables Consolidated financial statement analysis
Day's Inventory Consolidated financial statement analysis
Inventory turnover Consolidated financial statement analysis
Working capital turnover Consolidated financial statement analysis
Current Ratio Consolidated financial current ratio
Acid Test Ratio Consolidated financial statement analysis
Financial leverage ratio Consolidated financial statement FLR
Debt/Equity Consolidated Debt/equity
Debt/Capitalization Consolidated financial statement analysis
Consolidated financial statement analysis
Consolidated financial statement analysis
Dividend/share Consolidated financial statement analysis
Consolidated financial statement analysis
Consolidated financial statement analysis
0.90

0.85

0.80

0.75
 0.80

0.75
Ov
30.00
0.70
25.00

30.00 20.00
0.65
2013 2014 2015 2016
25.00
15.00
Standalone Total Assets Consolidated Total Assets
20.00 Standalone asset turnover Consolidated asset turnover
10.00
15.00
5.00
10.00

0.00
5.00 2013

0.00 Consolidated ROA

2013 2014 2015 2016

Standalone ROA Standalone ROIC Standalone ROE

Consolidated balance sheet

profitability measures
0.4

0.35

0.3

0.25

0.2

0.15

0.1

0.05

0
2013 2014 2015

Consolidated gross margin Consolidated profit margin

0.05

0
2013 2014 2015

Consolidated gross margin Consolidated profit margin

 2013 2014 2015 2016
15,045.00 17,865.00 19,881.00 22,439.00
0.372843973037 0.3563521034049 0.372868958533 0.3593632389
722.34 820.7 1109.18 1218.3
4.377818181818 4.4123655913979 10.27018518519 20.305
20.35 18.71 18.66 18.20
24.66 23.71 24.36 23.60
24.82 23.93 24.39 23.65
0.372843973037 0.3563521034049 0.372868958533 0.3593632389
0.233668715305 0.2125546047514 0.232037360041 0.21905478772
165 186 108 60
6942 9148 7955 9399
1.358254105445 1.1648447748142 1.555248271527 1.455261198
0.870950335628 0.8800512586455 0.804341595136 0.83098441596
1.055450931157 1.1156782018471 1.049875950065 1.0774606571
1.06206243091 1.1258252863238 1.050910596026 1.07980839069
8.394424797171 8.2782364597094 6.9380611581 7.22947782795
1147.893978681 1035.3902492348 1393.33186675 1269.75263326
64.06857157018 60.800570482517 66.49121326356 66.2297208565

1.481133460578 1.6147453860276 1.679920602413 1.8065328087

4.363872082973 3.580583492644 3.047281171386 3.01082087381
3.570193851093 2.8510514504198 2.585306069793 2.56134737332
1.219429383587 1.2792724006288 1.306547619048 1.2994327811
0.001921356004 0.2792724006288 0.306547619048 0.2994327811
0.004767393127 0.0090130188049 0.000984523294 0.00217421314 30

25

42 63 59.5 24.25
20

15
80,000.00
10
70,000.00
5
60,000.00
0
2013 2014
50,000.00
Consolidated ROA

40,000.00
Profit margin
0.35
30,000.000.3

0.25
20,000.00
 50,000.00

40,000.00
Profit margin
0.35
30,000.00
0.3
Overall Performance measures
0.25
30.00 20,000.00 25
0.2
25.00 10,000.00
0.15 20
0.1
20.00 0.00
2015 2016 0.05 15
15.00 0
Consolidated Total Assets
2013 2014 2015 2016
er Consolidated asset turnover 10
10.00
standalone profit margin Consolidated profit margin

5
5.00

0.00 0
2013 2014 2015 2016

Consolidated ROA Consolidated ROIC Consolidated ROE Consolidated P/E

Consolidated balance sheet

profitability measures
200

180

160

140

120

100

80

60

40

20

0
2014 2015 2016

margin Consolidated profit margin Consolidated EPS

 40

20

0
2014 2015 2016

margin Consolidated profit margin Consolidated EPS

 Head office: Electronics City, Hosur Road, Bangalore 560 100, Karn

Telephone: 91 80 2852 0261

Fax: 91 80 2852 0362

Website: www.infosys.com

Financial year-end: March

Ticker: INFY, 500209

Stock exchange: NASDAQ, Bombay

30

25

20

15

10

0
2013 2014 2015 2016

Consolidated ROA Consolidated ROIC Consolidated ROE

margin
margin

2015 2016

Consolidated profit margin

Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 197.04 195.87 195.87 195.72
Preference Share Capital 0 0 0 100
Total Share Capital 197.04 195.87 195.87 295.72
Reserves and Surplus 58,669.82 45,220.57 43,856.01 32,266.53
Total Reserves and Surplus 58,669.82 45,220.57 43,856.01 32,266.53
Total Shareholders Funds 58,866.86 45,416.44 44,051.88 32,562.25
NON-CURRENT LIABILITIES
Long Term Borrowings 50.06 64.71 89.69 83.1
Deferred Tax Liabilities [Net] 365.52 271.46 226.87 168.49
Other Long Term Liabilities 591.15 722.15 690.44 251.87
Long Term Provisions 88.66 126.91 279.61 269.52
Total Non-Current Liabilities 1,095.39 1,185.23 1,286.61 772.98
CURRENT LIABILITIES
Short Term Borrowings 112.96 185.56 0 80.02
Trade Payables 5,369.90 6,767.25 3,977.55 3,528.04
Other Current Liabilities 4,003.84 2,491.47 2,460.32 2,172.71
Short Term Provisions 8,219.59 7,019.35 5,827.83 3,896.14
Total Current Liabilities 17,706.29 16,463.63 12,265.70 9,676.91
Total Capital And Liabilities 77,668.54 63,065.30 57,604.19 43,012.14
ASSETS
NON-CURRENT ASSETS
Tangible Assets 9,689.22 7,964.88 5,887.09 5,059.48
Intangible Assets 24.06 31.41 42.1 44.8
Capital Work-In-Progress 1,641.84 2,706.94 3,047.53 1,763.85
Fixed Assets 11,355.12 10,703.23 8,976.72 6,868.13
Non-Current Investments 2,228.28 2,651.23 5,098.55 5,975.73
Deferred Tax Assets [Net] 465.83 303.47 273.58 148.23
Long Term Loans And Advances 9,750.92 8,452.55 6,875.54 4,630.21
Other Non-Current Assets 572.52 524.68 1,544.99 1,881.20
Total Non-Current Assets 24,372.67 22,635.16 22,769.38 19,503.50
CURRENT ASSETS
Current Investments 21,847.39 747.47 733.87 348.65
Inventories 8.99 12.34 8.57 6.34
Trade Receivables 19,058.20 17,036.76 14,471.89 11,202.32
Cash And Cash Equivalents 4,806.37 16,502.50 12,566.26 4,054.16
Short Term Loans And Advances 4,675.78 3,352.18 3,688.12 4,911.48
OtherCurrentAssets 2,899.14 2,778.89 3,366.10 2,985.69
Total Current Assets 53,295.87 40,430.14 34,834.81 23,508.64
Total Assets 77,668.54 63,065.30 57,604.19 43,012.14
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 19,695.42 9,161.54 10,880.43 10,984.51
CIF VALUE OF IMPORTS
Raw Materials 27.66 47.37 32.96 20.35
Stores, Spares And Loose Tools 0.31 0.03 0 0.01
Capital Goods 474.13 523.21 589.6 352.42
EXPENDITURE IN FOREIGN EXCHANGE
Expenditure In Foreign Currency 29,554.53 24,745.56 20,275.40 15,602.18
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency 1,366.16 2,456.13 786.4 724.91
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods 81,193.85 70,680.70 60,634.96 44,851.24
Other Earnings 690.88 1,137.62 1,625.88 1,091.32
BONUS DETAILS
Bonus Equity Share Capital 155.9 155.9 155.9 155.9
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value - 2,974.41 2,151.32 2,093.70
Non-Current Investments Unquoted Book Value 2,228.28 2,271.34 4,718.66 5,595.84
CURRENT INVESTMENTS
Current Investments Quoted Market Value 20,253.65 - - -
Current Investments Unquoted Book Value 1,675.44 747.47 733.87 348.65

Standalone Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 85,864.71 73,582.15 64,676.08 48,426.96
Less: Excise/Sevice Tax/Other Levies 0.86 4.09 3.15 0.82
Revenue From Operations [Net] 85,863.85 73,578.06 64,672.93 48,426.14
Total Operating Revenues 85,863.85 73,578.06 64,672.93 48,426.14
Other Income 3,740.20 4,466.73 3,114.71 2,230.39
Total Revenue 89,604.05 78,044.79 67,787.64 50,656.53
EXPENSES
Cost Of Materials Consumed 39.09 64.62 39.77 25.02
Operating And Direct Expenses 22,794.36 19,796.40 16,950.73 13,360.51
Changes In Inventories Of FG,WIP And Stock-In T 0.38 0.15 -0.07 0
Employee Benefit Expenses 30,068.19 27,368.32 21,466.56 17,081.72
Finance Costs 13.58 79.57 23.41 30.62
Depreciation And Amortisation Expenses 1,559.19 1,393.77 1,080.55 802.86
Other Expenses 6,012.62 5,320.37 4,682.22 3,652.62
Total Expenses 60,487.41 54,023.20 44,243.17 34,953.35

Profit/Loss Before Exceptional, ExtraOrdinary It 29,116.64 24,021.59 23,544.47 15,703.18

Exceptional Items 0 528.38 0 0
Profit/Loss Before Tax 29,116.64 24,549.97 23,544.47 15,703.18
Tax Expenses-Continued Operations
Current Tax 6,376.81 5,208.15 4,662.41 3,158.28
Less: MAT Credit Entitlement 89.24 -8.83 38.3 324.58
Deferred Tax -53.63 14.7 -22.18 44.02
Tax For Earlier Years 0 61.33 467.62 39.12
Total Tax Expenses 6,233.94 5,293.01 5,069.55 2,916.84
Profit/Loss After Tax And Before ExtraOrdinary I 22,882.70 19,256.96 18,474.92 12,786.34
Profit/Loss From Continuing Operations 22,882.70 19,256.96 18,474.92 12,786.34
Profit/Loss For The Period 22,882.70 19,256.96 18,474.92 12,786.34
Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

OTHER ADDITIONAL INFORMATION

EARNINGS PER SHARE
Basic EPS (Rs.) 116.13 98.31 94.15 65.22
Diluted EPS (Rs.) 116.13 98.31 94.15 65.22
VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS
Imported Raw Materials 28.31 46.08 31.4 18.62
Indigenous Raw Materials 10.78 18.54 8.37 6.4
STORES, SPARES AND LOOSE TOOLS
Imported Stores And Spares 0.31 0.03 0 0.01
Indigenous Stores And Spares 0.43 0.03 0.02 0.01
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 8,571.38 15,473.87 6,267.33 4,305.88
Preference Share Dividend 0 0 28.76 19
Tax On Dividend 1,648.16 2,591.54 788.96 712.18
Equity Dividend Rate (%) 4,350.00 7,900.00 3,200.00 2,200.00
Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------
Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 197.04 195.87 195.87 195.72
Total Share Capital 197.04 195.87 195.87 295.72
Reserves and Surplus 65,163.52 50,438.89 48,998.89 38,350.01
Total Reserves and Surplus 65,163.52 50,438.89 48,998.89 38,350.01
Total Shareholders Funds 65,360.56 50,634.76 49,194.76 38,645.73
Minority Interest 502.23 1,127.76 707.99 695.31
NON-CURRENT LIABILITIES
Long Term Borrowings 82.53 114.27 127.26 130.98
Deferred Tax Liabilities [Net] 441.17 342.96 308.8 235.48
Other Long Term Liabilities 745.1 825.02 743.07 367.99
Long Term Provisions 277.28 297.87 385.59 348.92
Total Non-Current Liabilities 1,546.08 1,580.12 1,564.72 1,083.37
CURRENT LIABILITIES
Short Term Borrowings 112.96 185.56 127.09 80.02
Trade Payables 7,539.93 8,830.93 5,536.02 4,447.81
Other Current Liabilities 5,357.45 3,646.59 3,621.24 3,081.52
Short Term Provisions 8,965.17 7,655.16 6,385.96 4,233.46
Total Current Liabilities 21,975.51 20,318.24 15,670.31 11,842.81
Total Capital And Liabilities 89,384.38 73,660.88 67,137.78 52,267.22
ASSETS
NON-CURRENT ASSETS
Tangible Assets 10,606.61 9,376.12 7,034.81 5,991.71
Intangible Assets 119.35 168.83 240.74 254.8
Capital Work-In-Progress 1,671.20 2,766.37 3,168.48 1,895.36
Fixed Assets 12,397.16 12,311.32 10,444.03 8,141.87
Non-Current Investments 226.45 169.18 2,275.27 968.3
Deferred Tax Assets [Net] 822.94 593.94 420.06 310.22
Long Term Loans And Advances 10,395.48 9,154.92 7,286.62 5,234.13
Other Non-Current Assets 574.41 525.3 1,545.33 2,454.64
Total Non-Current Assets 26,316.99 24,847.88 24,240.09 20,690.66
CURRENT ASSETS
Current Investments 22,359.15 1,492.60 1,158.47 929.04
Inventories 16.27 16.07 15.21 21.15
Trade Receivables 24,069.71 20,437.94 18,230.40 14,076.56
Cash And Cash Equivalents 6,784.76 18,556.04 14,441.84 6,769.16
Short Term Loans And Advances 5,582.35 4,146.45 4,310.80 5,821.36
OtherCurrentAssets 4,255.15 4,163.90 4,740.97 3,959.29
Total Current Assets 63,067.39 48,813.00 42,897.69 31,576.56
Total Assets 89,384.38 73,660.88 67,137.78 52,267.22
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 16,627.07 6,148.50 7,543.19 7,337.14
BONUS DETAILS
Bonus Equity Share Capital 155.9 155.9 155.9 155.9
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value 0.01 3.91 0 0
Non-Current Investments Unquoted Book Value 226.44 169.18 2,275.27 968.3
CURRENT INVESTMENTS
Current Investments Quoted Market Value 20,253.65 0 7.58 7.78
Current Investments Unquoted Book Value 2,187.20 1,492.60 1,151.50 922.07

Consolidated Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 108,647.07 94,652.50 81,812.51 62,990.30
Less: Excise/Sevice Tax/Other Levies 0.86 4.09 3.15 0.82
Revenue From Operations [Net] 108,646.21 94,648.41 81,809.36 62,989.48
Total Operating Revenues 108,646.21 94,648.41 81,809.36 62,989.48
Other Income 3,053.87 3,229.91 1,636.74 1,178.23
Total Revenue 111,700.08 97,878.32 83,446.10 64,167.71
EXPENSES
Operating And Direct Expenses 27,401.80 23,419.99 19,663.47 15,118.18
Employee Benefit Expenses 41,769.08 38,701.15 29,860.01 24,039.96
Finance Costs 19.83 104.19 38.52 48.49
Depreciation And Amortisation Expenses 1,947.96 1,798.69 1,349.15 1,079.92
Other Expenses 8,885.54 8,045.56 7,133.09 5,791.43
Total Expenses 80,024.21 72,069.58 58,044.24 46,077.98
Profit/Loss Before Exceptional, ExtraOrdinary It 31,675.87 25,808.74 25,401.86 18,089.73
Exceptional Items 0 489.75 0 0
Profit/Loss Before Tax 31,675.87 26,298.49 25,401.86 18,089.73
Tax Expenses-Continued Operations
Current Tax 7,499.67 6,275.65 6,148.26 4,369.30
Less: MAT Credit Entitlement 81.51 9.05 51.26 368.58
Deferred Tax -117.23 -28.18 -27.14 12.99
Other Direct Taxes 0 0.37 0.13 0.33
Total Tax Expenses 7,300.93 6,238.79 6,069.99 4,014.04
Profit/Loss After Tax And Before ExtraOrdinary I 24,374.94 20,059.70 19,331.87 14,075.69
Profit/Loss From Continuing Operations 24,374.94 20,059.70 19,331.87 14,075.69
Profit/Loss For The Period 24,374.94 20,059.70 19,331.87 14,075.69
Minority Interest -83.12 -207.52 -168 -158.38
Consolidated Profit/Loss After MI And Associates 24,291.82 19,852.18 19,163.87 13,917.31
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) 123 101 98 71
Diluted EPS (Rs.) 123 101 98 71
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 8,571.38 15,473.87 6,267.33 4,305.88
Preference Share Dividend 0 0 28.76 19
Tax On Dividend 1,653.34 2,635.69 795.68 727.34
 standalone financial statement analysis
Mar-12 Ratios
2016 2015
12 mths Operating profit 32,961.83 26,348.57
OPM 0.383884836284 0.358103625

195.72 Market Price per share 2520.3 2553.95

100 Net Cashflow from operating activ 17,996.31 16,319.89
295.72
24,560.91 Mar-16 Mar-15
24,560.91 1 Price/earnings ratio 21.70240247998 25.97853728
24,856.63 2 Return on Assets 0.294619932343 0.305349535
3 Return on Invested Capital 0.383958985669 0.41564586
96.23 4 Return on Shareholder's equity 0.388719561397 0.424008575
118.1 5 Gross Margin Percentage 0.383884836284 0.358103625
197.59 6 Profit Margin 0.266499813367 0.261721497
154.78 7 Earnings per share 116.13 98.31
566.7 8 Cash Realization 0.786459202804 0.84748008
9 Asset Turnover 1.105527540495 1.166761278
0 10 Invested Capital Turnover 1.440762102216 1.588211018
2,847.18 11 Equity Turnover 1.458625617198 1.620165517
1,598.56 12 Capital Intensity 8.86188052289 9.238324997
4,389.74 13 Days' Cash Insufficient Data Insufficient D
8,835.48 14 Days' Receivables 81.01399282662 84.50986279
34,258.81 15 Days' Inventory 0.062026932053 0.095366264
16 Inventory Turnover 5884.540600667 3827.349271
17 Working Capital Turnover 2.412636226671 3.070207135
4,012.16 18 Current ratio 3.00999644759 2.455724527
51.46 19 Acid Test Ratio 1.611876344508 2.24078408
1,399.82 20 Financial Leverage Ratio 1.319393288516 1.388600692
5,463.44 21 Debt/equity Ratio 1.319393288516 1.388600692
5,150.15 22 Debt/Capitalization 0.01224681287 0.019722984
139.74 23 Times interest earned 2259.897643594 320.4088224
4,332.81 24 Cash flow/debt 28.066171769 20.74052563
2,636.88 25 Dividend Yield
17,723.02 26 Dividend Payout

538.24
4.14
9,107.72
3,280.07
 1,648.72
1,956.90
16,535.79
34,258.81

6,545.88

8.19
0.01
227.49

12,263.02

434.63

34,936.48
3,162.38

155.9

1,540.94
4,770.26

-
538.24

Mar-12

12 mths

38,858.79
0.25
38,858.54
38,858.54
2,685.18
41,543.72
 11.78
10,575.83
0.26
14,100.41
16.4
688.17
2,784.54
28,177.39

13,366.33
0
13,366.33

2,865.38
436.1
-38.93
0
2,390.35
10,975.98
10,975.98
10,975.98
Mar-12

12 mths

55.95
55.95

9.24
2.54

0.01
0.02

4,893.04
22
797.34
2,500.00
 0.2726979814594
1.37169354878312
Total Assets 52,267.22 67,137.78 73,660.88 89,384.38
 Consolidated financial statement analysis
Ratios
2014 2013 2016 2015 2014
26,215.94 17,958.89 Operating profit 39,475.33 32,527.27 32,285.88
0.405361872 0.370851156 OPM 0.363338307 0.343664199 0.394647752

2133.15 1575.75 2520.3 2553.95 2133.15

12,941.93 9,156.95 Data NA Data NA Data NA

Mar-14 Mar-13 Mar-16 Mar-15 Mar-14

22.65693043 24.16053358 Price/earnings ratio 20.4902439 25.28663366 21.76683673
0.320721809 0.297272816 Return on Assets 27.17680651 26.95077767 28.54409246
0.409537942 0.385516937 Return on Invested Cap36.30703918 38.02015824 37.75426777
0.419390046 0.392673725 Return on Shareholder37.16586884 39.20662407 38.95510416
0.405361872 0.370851156 Gross Margin Percent 0.363338307 0.343664199 0.394647752
0.285666971 0.264037976 Profit Margin 0.223586446 0.209746577 0.234250335
94.15 65.22 Earnings per share 123 101 98
0.700513453 0.716150986 Cash Realization NA NA NA
1.122766938 1.125890504 Asset Turnover 1.215503984 1.284976503 1.218576337
1.433690034 1.460106118 Invested Capital Turn 1.63463931 1.824734847 1.621633445
1.468179792 1.487211725 Equity Turnover 1.66227263 1.869318626 1.663033014
10.9860865 9.57152909 Capital Intensity 10.243336 10.09506064 11.62966875
Insufficient D Insufficient Data Days' Cash Insufficient D Insufficient D Insufficient D
81.67223261 84.43327436 Days' Receivables 80.86222804 78.81300652 81.33347822
0.081338919 0.075953688 Days' Inventory 0.085853324 0.094421158 0.112101371
4487.396733 4805.559937 Inventory Turnover 4251.437001 3865.658992 3255.981591
2.865690317 3.501149892 Working Capital Turno2.644003389 3.321751087 3.004788195
2.840018099 2.429353998 Current ratio 2.86989426 2.402422651 2.737513808
2.505056377 2.084132228 Acid Test Ratio 1.40403886 1.919161305 2.08497726
1.307644305 1.320920391 Financial Leverage Rat1.367558356 1.454749267 1.364734374
1.307644305 1.320920391 Debt/equity Ratio 1.367558356 1.454749267 1.364734374
0.023491508 0.018225789 Debt/Capitalization 0.887542071 0.898341514 0.89970772
1052.901751 540.0607446 Times interest earned1696.604135 265.9719743 695.4706646
16.58945304 27.33662716 Cash flow/debt NA NA NA
Dividend Yield
Dividend Payout
 2013
23,831.34
0.378338415

1575.75
Data NA

Mar-13 2013 2014 2015 2016

22.19366197 Price/earnings22.19366197 21.76683673 25.28663366 20.4902439
26.62722448 Return on Ass26.62722448 28.54409246 26.95077767 27.17680651
35.03051919 Return on Inve35.03051919 37.75426777 38.02015824 36.30703918
36.01254265 Return on Sha36.01254265 38.95510416 39.20662407 37.16586884
0.378338415
0.220946577 Profit Margin 0.220946577 0.234250335 0.209746577 0.223586446
71
NA
1.205158797 Asset Turnove1.205158797 1.218576337 1.284976503 1.215503984
1.594948754
1.62994204 Equity Turnov 1.62994204 1.663033014 1.869318626 1.66227263
10.51290867
Insufficient Data
81.56723178
0.197142918
1851.4487
3.192008615
2.666306392 Current ratio 2.666306392 2.737513808 2.402422651 2.86989426
1.760200493 Acid Test Rati 1.760200493 2.08497726 1.919161305 1.40403886
1.352470765 FLR 1.352470765 1.364734374 1.454749267 1.367558356
1.352470765
0.858283817
396.3320272
NA
Standalone Balance Sheet ------------------- in Rs. Cr. -------------------
Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES

SHAREHOLDER'S FUNDS
Equity Share Capital 494.1 493.7 493.2 492.6

Total Share Capital 494.1 493.7 493.2 492.6

Reserves and Surplus 40,411.10 34,127.90 28,862.70 23,736.90
Total Reserves and Surplus 40,411.10 34,127.90 28,862.70 23,736.90
Total Shareholders Funds 40,905.20 34,621.60 29,355.90 24,229.50
NON-CURRENT LIABILITIES
Long Term Borrowings 1,146.50 1,063.20 1,006.10 59
Deferred Tax Liabilities [Net] 72.2 56.7 137.9 52.8
Other Long Term Liabilities 46.4 28.1 62.9 11.8
Long Term Provisions 399.1 273.6 258.5 228.9
Total Non-Current Liabilities 1,664.20 1,421.60 1,465.40 352.5
CURRENT LIABILITIES
Short Term Borrowings 5,549.50 4,970.40 3,504.20 3,987.00
Trade Payables 5,993.10 5,728.80 5,390.50 4,922.80
Other Current Liabilities 2,665.20 2,551.10 2,401.30 3,805.40
Short Term Provisions 2,399.30 4,115.00 3,619.60 3,409.40
Total Current Liabilities 16,607.10 17,365.30 14,915.60 16,124.60
Total Capital And Liabilities 59,176.50 53,408.50 45,736.90 40,706.60
ASSETS
NON-CURRENT ASSETS
Tangible Assets 3,726.20 3,570.00 3,621.50 3,556.00
Intangible Assets 462.5 468.4 353.5 353.4
Capital Work-In-Progress 325.1 361.2 275.1 378.9
Fixed Assets 4,513.80 4,399.60 4,250.10 4,288.30
Non-Current Investments 5,732.80 5,579.70 5,196.80 4,854.70
Deferred Tax Assets [Net] 290.4 165.9 148.7 115.1
Long Term Loans And Advances 3,358.40 3,071.00 2,998.10 2,516.80
Other Non-Current Assets 252.4 336.8 539 546.9
Total Non-Current Assets 14,147.80 13,553.00 13,132.70 12,321.80
CURRENT ASSETS
Current Investments 12,730.20 5,188.80 5,839.20 6,049.50
Inventories 526.2 479.4 228.3 320.5
Trade Receivables 8,704.80 8,144.20 8,550.90 8,499.40
Cash And Cash Equivalents 12,007.80 15,667.50 10,554.90 7,800.40
Short Term Loans And Advances 5,499.50 5,256.10 2,929.30 2,124.40
OtherCurrentAssets 5,560.20 5,119.50 4,501.60 3,590.60
Total Current Assets 45,028.70 39,855.50 32,604.20 28,384.80
Total Assets 59,176.50 53,408.50 45,736.90 40,706.60
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 4,385.10 3,022.20 2,793.40 2,657.80
CIF VALUE OF IMPORTS
Raw Materials 627.2 851.3 1,524.20 2,101.70
Stores, Spares And Loose Tools 5 16 14.7 18.9
Capital Goods 15.2 20 0.1 0
EXPENDITURE IN FOREIGN EXCHANGE
Expenditure In Foreign Currency 20,818.10 19,430.80 14,789.73 12,068.52
REMITTANCES IN FOREIGN CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign Currency 0.03 0.03 0.03 0.02
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods 40,412.40 36,675.90 34,440.80 28,076.10
Other Earnings 73.8 90.6 28 26.4
BONUS DETAILS
Bonus Equity Share Capital 475.82 475.82 475.82 475.82
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value- - - -
Non-Current Investments Unquoted Book Valu 5,912.10 5,579.70 5,196.80 4,854.70
CURRENT INVESTMENTS
Current Investments Quoted Market Value 1,139.50 1,102.40 1,825.70 706.8
Current Investments Unquoted Book Value 17,364.20 4,093.80 4,037.80 5,346.90

Standalone Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 44,684.60 41,210.00 38,765.10 33,229.60
Less: Excise/Sevice Tax/Other Levies 0 0.2 7.9 3.1
Revenue From Operations [Net] 44,684.60 41,209.80 38,757.20 33,226.50
Total Operating Revenues 44,684.60 41,209.80 38,757.20 33,226.50
Other Income 2,771.50 2,499.00 1,611.20 1,325.30
Total Revenue 47,456.10 43,708.80 40,368.40 34,551.80
EXPENSES
Cost Of Materials Consumed 0.2 3.4 205.3 354.2
Purchase Of Stock-In Trade 2,655.50 2,456.40 2,285.80 2,347.20
Changes In Inventories Of FG,WIP And Stock-In -53.1 -254.3 0.9 -18.2
Employee Benefit Expenses 21,379.70 19,726.30 18,337.50 15,904.20
Finance Costs 527.8 362.9 374.7 352.4
Depreciation And Amortisation Expenses 868.8 778.4 736.7 701.3
Other Expenses 11,595.10 10,078.70 8,819.30 7,705.60
Total Expenses 36,974.00 33,151.80 30,760.20 27,346.70

Profit/Loss Before Exceptional, ExtraOrdinary 10,482.10 10,557.00 9,608.20 7,205.10

Profit/Loss Before Tax 10,482.10 10,557.00 9,608.20 7,205.10

Tax Expenses-Continued Operations
Current Tax 2,452.30 2,376.60 2,056.30 1,530.00
Less: MAT Credit Entitlement 0 0 0 71.9
Deferred Tax -69.2 -12.7 52.4 10
Tax For Earlier Years 0 0 112.1 86.8
Total Tax Expenses 2,383.10 2,363.90 2,220.80 1,554.90
Profit/Loss After Tax And Before ExtraOrdinary 8,099.00 8,193.10 7,387.40 5,650.20
Profit/Loss From Continuing Operations 8,099.00 8,193.10 7,387.40 5,650.20
Profit/Loss For The Period 8,099.00 8,193.10 7,387.40 5,650.20
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) 32.97 33.38 30.09 23.03
Diluted EPS (Rs.) 32.91 33.28 30.01 22.99
VALUE OF IMPORTED AND INDIGENIOUS RAW MATERIALS
Imported Raw Materials 0 2.6 141.6 242.6
Indigenous Raw Materials 0 0.8 63.7 111.6
STORES, SPARES AND LOOSE TOOLS
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 1,482.30 2,963.60 1,973.60 1,724.70
Tax On Dividend 308.5 592.4 335.3 289.2
Equity Dividend Rate (%) 300 600 400 350

Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 494.1 493.7 493 492.4
Total Share Capital 494.1 493.7 493 492.4
Reserves and Surplus 44,194.50 36,598.30 31,635.70 26,072.20
Total Reserves and Surplus 44,194.50 36,598.30 31,635.70 26,072.20
Total Shareholders Funds 44,688.60 37,092.00 32,128.70 26,564.60
Minority Interest 222.4 164.6 138.7 117.1
NON-CURRENT LIABILITIES
Long Term Borrowings 1,736.10 1,270.70 1,090.90 85.3
Deferred Tax Liabilities [Net] 64.4 26.9 167.9 52.8
Other Long Term Liabilities 319.5 67.9 260.4 16.6
Long Term Provisions 463.2 306.7 303.6 282.1
Total Non-Current Liabilities 2,583.20 1,672.20 1,822.80 436.8
CURRENT LIABILITIES
Short Term Borrowings 10,265.00 6,444.10 3,943.30 4,223.90
Trade Payables 6,839.00 5,848.60 5,216.10 4,835.80
Other Current Liabilities 3,612.90 2,949.40 2,729.10 4,042.70
Short Term Provisions 2,531.90 4,205.90 3,709.50 3,453.00
Total Current Liabilities 23,248.80 19,448.00 15,598.00 16,555.40
Total Capital And Liabilities 70,743.00 58,376.80 49,688.20 43,673.90
ASSETS
NON-CURRENT ASSETS
Tangible Assets 5,807.20 4,969.30 4,767.10 4,538.20
Intangible Assets 10,199.10 63.1 5,882.00 5,458.10
Capital Work-In-Progress 380.6 395.1 369.1 406.6
Fixed Assets 16,386.90 5,427.50 11,018.20 10,402.90
Non-Current Investments 442.2 340.4 271.2 0
Deferred Tax Assets [Net] 221 83.4 155.3 102.2
Long Term Loans And Advances 3,476.60 3,137.60 3,046.30 2,558.40
Other Non-Current Assets 324.1 364.2 552.1 546.9
Total Non-Current Assets 20,850.80 15,157.80 15,043.10 13,610.40
CURRENT ASSETS
Current Investments 12,733.00 5,191.70 5,875.20 6,764.60
Inventories 539.1 484.9 229.3 326.3
Trade Receivables 10,239.00 9,154.80 8,546.70 7,669.80
Cash And Cash Equivalents 13,503.90 16,619.00 11,420.10 8,483.80
Short Term Loans And Advances 6,178.60 5,719.00 3,350.50 2,610.70
OtherCurrentAssets 6,698.60 6,049.60 5,223.30 4,208.30
Total Current Assets 49,892.20 43,219.00 34,645.10 30,063.50
Total Assets 70,743.00 58,376.80 49,688.20 43,673.90
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities 3,860.60 3,290.90 6,554.50 6,564.10
BONUS DETAILS
Bonus Equity Share Capital 475.82 475.82 475.82 475.82
NON-CURRENT INVESTMENTS
Non-Current Investments Unquoted Book Valu 442.2 340.4 271.2 0
CURRENT INVESTMENTS
Current Investments Quoted Market Value 1,139.50 1,102.40 1,858.90 1,416.70
Current Investments Unquoted Book Value 11,634.20 4,096.70 4,040.60 5,363.40

Consolidated Profit & Loss account ------------------- in Rs. Cr. -------------------

Mar-16 Mar-15 Mar-14 Mar-13

12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations [Gross] 51,247.80 46,951.20 43,431.70 37,433.10
Less: Excise/Sevice Tax/Other Levies 0 0.2 7.9 3.1
Revenue From Operations [Net] 51,247.80 46,951.00 43,423.80 37,430.00
Total Operating Revenues 51,247.80 46,951.00 43,423.80 37,430.00
Other Income 2,848.70 2,449.70 1,921.90 1,440.50
Total Revenue 54,096.50 49,400.70 45,345.70 38,870.50
EXPENSES
Cost Of Materials Consumed 0.2 3.4 205.3 354.2
Purchase Of Stock-In Trade 3,054.90 2,976.70 2,768.90 2,747.50
s In Inventories Of FG,WIP And Stock-In Trade -60.6 -258.8 5.5 -18.3
Employee Benefit Expenses 24,666.10 22,511.50 20,681.50 17,994.00
Finance Costs 548.4 349.9 383.4 289.4
Depreciation And Amortisation Expenses 1,358.50 1,174.90 1,059.40 939.7
Other Expenses 13,004.30 11,419.00 10,127.40 8,695.20
Total Expenses 42,571.80 38,176.60 35,231.40 31,001.70
Profit/Loss Before Exceptional, ExtraOrdinary 11,524.70 11,224.10 10,114.30 7,868.80
Profit/Loss Before Tax 11,524.70 11,224.10 10,114.30 7,868.80
Tax Expenses-Continued Operations
Current Tax 2,613.60 2,507.00 2,070.80 1,672.60
Deferred Tax -97.8 3.1 52.6 13.9
Total Tax Expenses 2,515.80 2,510.10 2,123.40 1,686.50
Profit/Loss After Tax And Before ExtraOrdinary 9,008.90 8,714.00 7,990.90 6,182.30
Profit/Loss From Continuing Operations 9,008.90 8,714.00 7,990.90 6,182.30
Profit/Loss For The Period 9,008.90 8,714.00 7,990.90 6,182.30
Minority Interest -49.2 -53.1 -43.8 -32.2
Consolidated Profit/Loss After MI And Associat 8,959.70 8,660.90 7,947.10 6,150.10
OTHER ADDITIONAL INFORMATION
EARNINGS PER SHARE
Basic EPS (Rs.) 36 35 32 25
Diluted EPS (Rs.) 36 35 32 25
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend 1,473.40 2,945.50 1,959.50 1,724.70
Tax On Dividend 308.5 592.4 335.3 289.2
standalone financial statement analysis
Ratios
2016 2015 2014
Price /earnings ratio 17.0837125 18.8076693 18.032569
Return on assets 0.13686176 0.15340442 0.16151947
Return on invested capital 0.19238398 0.2294157 0.2428077
Return on shareholders' equi 0.19799439 0.23664706 0.25164958

Gross margin percentage 0.46329832 0.46780135 0.46256438

Profit margin 0.18124813 0.19881436 0.19060716
Earnings per share 32.97 33.38 30.09
Cash realization 0.82562045 0.9402546 0.89

Assets turnover ratio 0.75510718 0.77159628 0.84739455

Invested capital turnover rat 1.06143983 1.15391917 1.2738645
Equity turnover 1.09239412 1.19029161 1.32025249
Capital Intensity 11.9920026 11.5433613 10.7019743
Day's Cash 655.457401 742.33313 584.727939
Days receivables 71.1039598 72.1341283 80.5289985
Days inventory 0.02194118 0.02185867 0.01096042
Inventory turnover 45.5763968 45.7484355 91.2374069
Working capital turnover 1.57220565 1.83234475 2.19108352
current ratio 2.71141259 2.29512303 2.18591274
Acid test ratio 1.57836708 1.6739014 1.47731905

Financial leverage ratio 1.44667426 1.54263523 1.55801389

Debt/equity ratio 0.02802822 0.03070915 0.0342725
Debt/capitalisation ratio 0.03750224 0.03795775 0.04335331
Times interset earned 44.4748011 60.0082667 52.1454497
Cash flow/debt 5.60541537 7.05910382 6.16333022
Total Assets 43,673.90 49,688.20 58,376.80 70,743.00
0.12734688
1.58
 Consolidated financial statement analysis
Ratios
2013 2016 2015 2014
18.9817629 Price /earnings ratio 15.6458333 17.9371429 16.95625
0.13880304 Return on assets 12.66514 14.8362021 15.9939382
0.23251565 Return on invested capital 18.9535833 22.3425222 23.4072132
0.23319507 Return on shareholders' eq 20.0491848 23.3497789 24.7352056

0.44058508 Gross margin percentage 0.46025781 0.46257162 0.45510987

0.17005101 Profit margin 0.17483092 0.18446678 0.18301254
23.03 Earnings per share 36 35 32
1.08 Cash realization 0.74630847 0.88946876 0.82905714

0.81624356 Assets turnover ratio 0.7244222 0.80427499 0.8739258

1.3673288 Invested capital turnover r 1.09634564 1.22170874 1.29700717
1.37132421 Equity turnover 1.14677569 1.26579855 1.35155795
9.34378515 Capital Intensity 8.82487257 9.44821202 9.10906002
465.280756 Day's Cash 737.123469 787.415624 632.658911
93.3676734 Days receivables 72.924789 71.1699857 71.8395327
0.01724286 Days inventory 0.01948982 0.01921705 0.00969097
57.9950078 Inventory turnover 51.3088481 52.0371211 103.188836
2.71011076 Working capital turnover 1.92347073 1.97513777 2.27981162
1.76034134 current ratio 2.14601184 2.22228507 2.2211245
1.14261439 Acid test ratio 1.02125271 1.32526738 1.28008719

1.68004292 Financial leverage ratio 1.58302117 1.57383802 1.54653627

0.00243505 Debt/equity ratio 0.57804451 0.56940041 0.54221926
0.01222397 Debt/capitalisation ratio 0.05335604 0.04247328 0.04898531
45.3019296 Times interset earned 48.2055069 69.0708774 56.5584246
86.4293785 Cash flow/debt 3.25291886 5.75496788 4.87574928
 2013 2013 2014 2015 2016
21.704 Price /earning 21.704 16.95625 17.9371429 15.6458333
14.0818658 Return on ass 14.0818658 15.9939382 14.8362021 12.66514
22.7769671 Return on inv 22.7769671 23.4072132 22.3425222 18.9535833
23.1514873 Return on sha 23.1514873 24.7352056 23.3497789 20.0491848

0.43688485
0.16430938 Profit margin 0.16430938 0.18301254 0.18446678 0.17483092
25
0.99497569

0.85703361 Assets turnov 0.85703361 0.8739258 0.80427499 0.7244222

1.40363377
1.40901802 Equity turnov 1.40901802 1.35155795 1.26579855 1.14677569
8.24776343
506.044418
74.7923324
0.01548104
64.5951578
2.77093003
1.81593317 current ratio 1.81593317 2.2211245 2.22228507 2.14601184
0.97572997 Acid test rati 0.97572997 1.28008719 1.32526738 1.02125271

New TVS
1.6440639 Financial leve 1.6440639 1.54653627 1.57383802 1.58302117
0.63965578
0.01424935
61.4827229
60.0510304
wipro' TCS
2013 2014 2015 2016
WIPRO P/E 21.704 16.95625 17.9371429 15.6458333 TCS P/E
Wipro ROA 14.0818658 15.9939382 14.8362021 12.66514 TCS ROA
Wipro ROIC 22.7769671 23.4072132 22.3425222 18.9535833 TCS ROIC
Wipro ROE 23.1514873 24.7352056 23.3497789 20.0491848 TCS ROE
Wipro Profit 16.4309378 18.3012542 18.4466785 17.483092 TCS Profit Ma
Wipro Total A 43,673.90 49,688.20 58,376.80 70,743.00 TCS Total Ass
Wipro Assets 0.85703361 0.8739258 0.80427499 0.7244222 TCS Asset Tur
Wipro Equity 1.40901802 1.35155795 1.26579855 1.14677569 TCS Equity Tu
wipro current 1.81593317 2.2211245 2.22228507 2.14601184 TCS Current r
wipro Acid tes0.97572997 1.28008719 1.32526738 1.02125271 TCS Acid Test
Wipro FLR 1.58302117 1.57383802 1.54653627 1.6440639 TCS FLR
Wipro Debt/e 1.6440639 1.54653627 1.57383802 1.58302117 TCS Debt/equ

Assets and asset turnover

1.4
Debt/equity rati
1.2 1.8
1.6
1
1.4
0.8
1.2
1
0.6 0.8
30
0.6
0.4
0.4 40
25

0.2 0.2 35
20
30
0
2013 25 2014
0 15
2013 2014 20 2015
Wipro Debt/equity TCS Debt/equ
Wipro Total Assets TCS15
Total10
Assets Infosys Consolidat
Wipro Assets turnover ratio TCS10
Asset Turnover Infosys asset turno

5 5
0
2013 2014
0
2013
Wipro ROIC
15 10
10
5 5
0
2013 2014
0
2013
Wipro ROIC
 Infosys
2016 2015 2014 2013 2016
22.193662 21.7668367 25.2866337 20.4902439 Infosys P/E 4.37781818
26.6272245 28.5440925 26.9507777 27.1768065 Infosys ROA 20.3513846
35.0305192 37.7542678 38.0201582 36.3070392 Infosys ROIC 24.6625863
36.0125427 38.9551042 39.2066241 37.1658688 InfosysROE 24.8170764
22.0946577 23.4250335 20.9746577 22.3586446 Infosys Profit 23.3668715
52,267.22 67,137.78 73,660.88 89,384.38 Consolidated Total Assets 46,331.00
1.2051588 1.21857634 1.2849765 1.21550398 Infosys asset 0.87095034
1.62994204 1.66303301 1.86931863 1.66227263 Infosys Equit 1.06206243
2.66630639 2.73751381 2.40242265 2.86989426 Infosys curren4.36387208
1.76020049 2.08497726 1.91916131 1.40403886 Infosys acid t 3.57019385
1.35247076 1.36473437 1.45474927 1.36755836 Infosys FLR 1.21942938
1.35247076 1.36473437 1.45474927 1.36755836 Infosys Debt/ 0.00476739

Chart Title
nd asset turnover
25
100,000.00
Debt/equity ratio 20
90,000.00

80,000.00
Eqity turnover
15

2
10
1.8 70,000.00
1.6
Current ratio
5 60,000.00 Aide test ratio
5
1.4
1.2 4
4.5
50,000.00 0
43.5
1 2013 2014 201
P/E comparision
3.5
0.8 3
30 3
0.6
40,000.00FLR Wipro Profit margin TCS Profit Margin
2.5
ROIC2.5
0.4 30,000.00
25 1.6 22
0.2 ROA comparision
40 1.51.5
30 0 20,000.00
35 2013 2014 2015 2016
1
20 1.2 1
30 25 0.5 Wipro10,000.00
Equity turnover TCS Equity Turnover Infosys Equity turnover
00.5
25 2014 0.820 2015
2013 20142016 2015 2016
15 0 0.00
20 2015 2016 2013 2014 2015 2016
bt/equity 0.4
TCS Debt/equity
15
wipro current ratio
Infosys Debt/equity TCS Current ratio Infosys current ratio
CS15
Total10
Assets Infosys Consolidated Total Assets wipro Acid test ratio TCS Acid Test Ratio Infosys acid test ratio
CS10
Asset Turnover 010turnover
Infosys asset
2013 2014 2015 2016
5 5 5
0
2013 2014
Wipro FLR
2015
TCS2016
FLR Infosys FLR
0
0 2013 2014 2015 2016
2013 2014 2015 2016
Wipro ROIC TCS ROIC Infosys ROIC
Wipro ROA TCS ROA Infosys ROA
WIPRO P/E TCS P/E Infosys P/E
 15
15 10
10 010
2013 2014 2015 2016
5 5 5
0
2013 2014
Wipro FLR
2015
TCS2016
FLR Infosys FLR
0
0 2013 2014 2015 2016
2013 2014 2015 2016
Wipro ROIC TCS ROIC Infosys ROIC
Wipro ROA TCS ROA Infosys ROA
WIPRO P/E TCS P/E Infosys P/E
 2015 2014 2013
4.41236559 10.2701852 20.305
18.7058947 18.66373 18.2031115
23.7142539 24.3610444 23.6022916
23.9299349 24.385052 23.6537198
21.2554605 23.203736 21.9054788
56,966.00 66,289.00 75,141.00
0.88005126 0.8043416 0.83098442
1.12582529 1.0509106 1.07980839
3.58058349 3.04728117 3.01082087
2.85105145 2.58530607 2.56134737
1.2792724 1.30654762 1.29943278
0.00901302 0.00098452 0.00217421

Chart Title

2014 2015 2016

Profit margin TCS Profit Margin Infosys Profit margins

2016

uity turnover

2016
2016
s current ratio
osys acid test ratio
 2016 Consolidated

Infosys TCS
Revenue From Operations [Gross] 100.0 100.0
less excise 0.0 0.0
Revenue From Operations [Net] 100.0 100.0
Total Operating Revenues 100.0 100.0
Other Income 5.0 2.8
Total Revenue 105.0 102.8
EXPENSES
cost of materials consumed 0.0 0.0
Operating And Direct Expenses 8.9 25.2
changes in inventory 0.0 0.0
Employee Benefit Expenses 55.1 38.4
finance costs 0.0 0.0
Depreciation And Amortisation Expenses 2.0 1.8
Other Expenses 8.5 8.2
Total Expenses 74.6 73.7
Profit/Loss Before Exceptional, ExtraOrdinar 30.4 29.2
exceptional items 0.0 0.0
Profit/Loss Before Tax 30.4 29.2
Tax Expenses-Continued Operations 0.0 0.0
Current Tax 8.5 6.9
less MAT credit entitlement 0.0 0.1
Deferred Tax 0.0 -0.1
tax for earlier years 0.0 0.0
Total Tax Expenses 8.5 6.7
Profit/Loss After Tax And Before ExtraOrdina 21.9 22.4
Profit/Loss From Continuing Operations 21.9 22.4
Profit/Loss For The Period 21.9 22.4
Wipro
100.0
0.0
100.0
100.0
5.6
105.6

0.0
6.0
-0.1
48.1
1.1
2.7
25.4
83.1
22.5
0.0
22.5
0.0
5.1
0.0
-0.2
0.0
4.9
17.6
17.6
17.6