Balance Sheet

Particulars Note no. As at March 31,

2021
Assets
Non-current assets
Property, plant and equipment 2.1 10,930
Right-of-use assets 2.3 3,435
Capital work-in-progress 906
Goodwill 2.2 167
Other intangible assets 2.2 67
Financial assets
Investments 2.4 22,118
Loans 2.5 30
Other financial assets 2.6 613
Deferred tax assets (net) 2.16 955
Income tax assets (net) 2.16 5,287
Other non-current assets 2.9 1,149
Total non-current assets 45,657
Current assets
Financial assets
Investments 2.4 2,037
Trade receivables 2.7 16,394
Cash and cash equivalents 2.8 17,612
Loans 2.5 229
Other financial assets 2.6 5,226
Other current assets 2.9 6,784
Total current assets 48,282
Total assets 93,939
Infosys Annual Report 2020-21 Standalone financial statements | 157

Balance Sheet (contd.)

 in ` crore

As at March 31,
2020

11,092
2,805
945
29
48

13,916
298
613
1,429
4,773
1,273
37,221

4,006
15,459
13,562
307
4,398
6,088
43,820
81,041
one financial statements | 157
Particulars Note no. As at March 31,
2021
Equity and liabilities
Equity
Equity share capital 2.11 2,130
Other equity 69,401
Total equity 71,531
Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities 2.3 3,367
Other financial liabilities 2.12 259
Deferred tax liabilities (net) 2.16 511
Other non-current liabilities 2.14 649
Total non-current liabilities 4,786
Current liabilities
Financial liabilities
Trade payables 2.13
Total outstanding dues of micro enterprises and small enterprises –
Total outstanding dues of creditors other than micro enterprises and 1,562
small enterprises
Lease liabilities 2.3 487
Other financial liabilities 2.12 8,359
Other current liabilities 2.14 4,816
Provisions 2.15 661
Income tax liabilities (net) 2.16 1,737
Total current liabilities 17,622
Total equity and liabilities 93,939
The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
for Deloitte Haskins & Sells LLP for and on behalf of the Board of Directors of Infosys Limited
Chartered Accountants
Firm’s Registration No.: 117366W/W-
100018
Sanjiv V. Pilgaonkar Nandan M. Nilekani Salil Parekh U.B. Pravin Rao Chief Operating Off
Partner Chairman Chief Executive Officer and Whole-time Director
Membership No.: 039826 D. Sundaram Managing Director Jayesh Sanghrajka Executive Vice Pr
Mumbai Director Nilanjan Roy and Deputy Chief Financial Officer
April 14, 2021 A.G.S. Manikantha Chief Financial Officer
Company Secretary
Bengaluru April 14, 2021

158 | Standalone financial statements

Infosys Annual Report 2020-21

Statement of Profit and Loss

in ` crore except equity share and per equity share data
 As at March 31,
2020

2,129
60,105
62,234

2,775
49
556
207
3,587

–
1,529

390
7,936
3,557
506
1,302
15,220
81,041

B. Pravin Rao Chief Operating Officer and

ole-time Director
yesh Sanghrajka Executive Vice President
Deputy Chief Financial Officer
Particulars Note no. Year ended March 31,
2021
Revenue from operations 2.17 85,912
Other income, net 2.18 2,467
Total income 88,379
Expenses
Employee benefit expenses 2.19 45,179
Cost of technical sub-contractors 9,528
Travel expenses 484
Cost of software packages and others 2.19 2,058
Communication expenses 464
Consultancy and professional charges 999
Depreciation and amortization expense 2.1 & 2.2.2
& 2.3 2,321

Finance cost 2.3 126

Other expenses 2.19 2,743
Total expenses 63,902
Profit before tax 24,477
Tax expense
Current tax 2.16 6,013
Deferred tax 2.16 416
Profit for the year 18,048
Infosys Annual Report 2020-21 Standalone financial statements | 159

Statement of Profit and Loss (contd.)

Year ended March 31,
2020
79,047
2,700
81,747

42,434
8,447
2,241
1,656
381
1,066

2,144

114
2,787
61,270
20,477

5,235
(301)
15,543
ndalone financial statements | 159
Particulars Note no. Year ended March 31,
2021
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability / asset, net 2.16 & 2.20 148
Equity instruments through other comprehensive income, net 2.4 & 2.16 120
Items that will be reclassified subsequently to profit or loss
Fair value changes on derivatives designated as cash flow hedge, net 2.10 & 2.16 25
Fair value changes on investments, net 2.4 & 2.16 (102)
Total other comprehensive income / (loss), net of tax 191
Total comprehensive income for the year 18,239
Earnings per equity share
Equity shares of par value ` 5 each
Basic (`) 42.37
Diluted (`) 42.33
Weighted average equity shares used in computing earnings per equity
share
Basic 2.21 425,94,38,950
Diluted 2.21 426,30,92,514
The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
for Deloitte Haskins & Sells LLP for and on behalf of the Board of Directors of Infosys Limited
Chartered Accountants
Firm’s Registration No.: 117366W/W-
100018
Sanjiv V. Pilgaonkar Nandan M. Nilekani Salil Parekh U.B. Pravin Rao Chief Operating Offi
Partner Chairman Chief Executive Officer and Whole-time Director
Membership No.: 039826 D. Sundaram Managing Director Jayesh Sanghrajka Executive Vice Pr
Mumbai Director Nilanjan Roy and Deputy Chief Financial Officer
April 14, 2021 A.G.S. Manikantha Chief Financial Officer
Company Secretary
Bengaluru April 14, 2021

160 | Standalone financial statements

Infosys Annual Report 2020-21
 Year ended March 31,
2020

(184)
(31)

(36)
17
(234)
15,309

36.34
36.32

427,70,30,249
427,98,08,826

U.B. Pravin Rao Chief Operating Officer and

Whole-time Director
ayesh Sanghrajka Executive Vice President
nd Deputy Chief Financial Officer
 Statement of Changes in Equity for the year ended March 31, 2020
Particulars Equity Other equity
share
Reserves and surplus
capital
Securities Retained General Share options Special Capital reserve
premium earnings reserve outstanding Economic Zone Capital Other
account Re- investment reserve reserves(3)
Reserve(2)

Balance as at April 1, 2019 2,178 138 54,070 190 227 2,479 54 3,219
Impact on account of adoption of Ind AS
116 (Refer to Note 2.3)
(1)
– – (17) – – – – –
2,178 138 54,053 190 227 2,479 54 3,219
Changes in equity for the year ended
March 31, 2020
Profit for the year – – 15,543 – – – – –
Remeasurement of the net defined benefit
liability / asset
(1)
– – – – – – – –
Equity instruments through other comprehensive
income (1)

(Refer to Notes 2.4 and 2.16) – – – – – – – –

Fair value changes on derivatives designated as
cash flow hedge (1)

(Refer to Note 2.10) – – – – – – – –

Fair value changes on investments, net (1)

(Refer to Notes 2.4 and 2.16) – – – – – – – –

Total comprehensive income for the year – – 15,543 – – – – –
Transfer to general reserve – – (1,470) 1,470 – – – –
Transferred to Special Economic Zone
Re-investment Reserve – – (2,464) – – 2,464 – –
Transferred from Special Economic Zone
Re-investment Reserve on utilization – – 1,036 – – (1,036) – –
Amount transferred to capital redemption
reserve upon buyback (Refer to Note 2.11) – – – (50) – – – –
Transfer on account of exercise of stock
options (Refer to Note 2.11) – 119 – – (119) – – –
Transfer on account of options not
exercised – – – 1 (1) – – –
Shares issued on exercise of employee
stock options (Refer to Note 2.11) – 2 – – – – – –
Effect of modification of equity-settled share-based
payment awards to
cash-settled awards (Refer to Note 2.11) – – (9) – (48) – – –
Share-based payment to employees
(Refer to Note 2.11) – – – – 238 – – –
Reserves on common controlled
transactions – – – – – – – (137)
Income tax benefit arising on exercise of
stock options – 9 – – – – – –
020
in ` crore
r equity Total equity attributable
to equity holders of the
Other comprehensive income
Company
Capital Equity instruments Effective portion of Other items
redemption through other cash flow hedges of other
reserve comprehensive comprehensive
income income / (loss)

61 80 21 (6) 62,711
– – – – (17)
61 80 21 (6) 62,694

– – – – 15,543
– – – (184) (184)

– (31) – – (31)

– – (36) – (36)
– – – 17 17
– (31) (36) (167) 15,309
– – – – –
– – – – –

– – – – –

50 – – – –

– – – – –

– – – – –

– – – – 2

– – – – (57)
– – – – 238

– – – – (137)

– – – – 9
Particulars Equity Other equity
share
Reserves and surplus
capital
Securities Retained General Share options Special Capital reserve
premium earnings reserve outstanding Economic Zone Capital Other reserves(3)
account Re- investment reserve
Reserve(2)

Buyback of equity shares

(Refer to Notes 2.11 and 2.12) (49) – (4,717) (1,494) – – – –
Transaction cost relating to buyback (1)

(Refer to Note 2.11) – – – (11) – – – –

Dividends (including dividend
distribution tax) – – (9,553) – – – – –
Balance as at March 31, 2020 2,129 268 52,419 106 297 3,907 54 3,082

Statement of Changes in Equity for the year ended March 31, 2021
Particulars Equity Other equity
share Reserves and surplus
capital
Securities Retained General Share options Special Capital reserve
premium earnings reserve outstanding Economic Zone Capital Other

account Re- investment reserve reserves(3)

Reserve(2)

Balance as at April 1, 2020 2,129 268 52,419 106 297 3,907 54 3,082
Changes in equity for the year ended
March 31, 2021
Profit for the year – – 18,048 – – – – –
Remeasurement of the net defined benefit
liability / asset
(1)
– – – – – – – –
Equity instruments through other comprehensive
income (1)

(Refer to Notes 2.4 and 2.16) – – – – – – – –

Fair value changes on derivatives designated as
cash flow hedge (1)

(Refer to Note 2.10) – – – – – – – –

Fair value changes on investments, net (1)

(Refer to Notes 2.4 and 2.16) – – – – – – – –

Total comprehensive income for the year – – 18,048 – – – – –
Transfer to general reserve – – (1,554) 1,554 – – – –
Transferred to Special Economic Zone
Re-investment reserve – – (3,204) – – 3,204 – –
Transferred from Special Economic Zone
Re-investment reserve on utilization – – 967 – – (967) – –
Transfer on account of exercise of stock
options (Refer to Note 2.11) – 260 – – (260) – – –
Transfer on account of options not
exercised – – – 3 (3) – – –
Shares issued on exercise of employee
stock options (Refer to Note 2.11) 1 8 – – – – – –
Effect of modification of share-based
payment awards – – – – 85 – – –
Employee stock compensation expense
(Refer to Note 2.11) – – – – 253 – – –
Income tax benefit arising on exercise of
stock options – 45 – – – – – –
Reserves recorded upon business transfer under
common control
(Refer to Note 2.4.1) – – – – – – – (176)
Dividends – – (9,158) – – – – –
Balance as at March 31, 2021 2,130 581 57,518 1,663 372 6,144 54 2,906
r equity Total equity
attributable to equity
Other comprehensive income
holders of the
Capital Equity instruments Effective portion of Other items Company
redemption through other cash flow hedges of other
reserve comprehensive comprehensive
income income / (loss)

– – – – (6,260)

– – – – (11)

– – – – (9,553)
111 49 (15) (173) 62,234

021
in ` crore
r equity Total equity
Other comprehensive income attributable to equity
holders of the
Capital Equity instruments Effective portion of Other items
Company
redemption through other cash flow hedges of other
reserve comprehensive comprehensive
income income / (loss)

111 49 (15) (173) 62,234

– – – – 18,048
– – – 148 148

– 120 – – 120

– – 25 – 25
– – – (102) (102)
– 120 25 46 18,239
– – – – –
– – – – –

– – – – –

– – – – –

– – – – –

– – – – 9

– – – – 85

– – – – 253

– – – – 45

– – – – (176)
– – – – (9,158)
111 169 10 (127) 71,531
(1)
net of tax
(2)
The Special Economic Zone Re-investment Reserve has been created out of the profit of eligible SEZ units in terms of the provisions of Sec 10AA(1) (ii) of Income-tax A
plant and machinery for the purpose of its business in the terms of the Sec 10AA(2) of the Income-tax Act, 1961.
(3)
Profit / loss on transfer of business between entities under common control taken to reserve.
The accompanying notes form an integral part of the standalone financial statements. As per our report of even date attached

for Deloitte Haskins & Sells LLP for and on behalf of the Board of Directors of Infosys Limited
Chartered Accountants
Firm’s Registration No.: 117366W/W-100018

Sanjiv V. Pilgaonkar Nandan M. Nilekani

Partner Chairman
Membership No.: 039826 D. Sundaram
Mumbai Director
April 14, 2021 A.G.S. Manikantha
Company Secretary
Bengaluru April 14, 2021
EZ units in terms of the provisions of Sec 10AA(1) (ii) of Income-tax Act,1961. The reserve should be utilized by the Company for acquiring new
Act, 1961.

As per our report of even date attached

ard of Directors of Infosys Limited

Salil Parekh U.B. Pravin Rao Chief Operating Officer and Whole-time
Chief Executive Officer and Managing Director
Director Jayesh Sanghrajka
Nilanjan Roy Executive Vice President and Deputy Chief Financial Officer
Chief Financial Officer
 Statement of Cash Flows
Accounting policy
Cash flows are reported using the indirect method, whereby profit for the period is adjusted for the effects of transactions of a non-cash nature, an
deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing c
flows. The cash flows from operating, investing and financing activities of the Company are segregated. The Company considers all highly liquid
investments that are readily convertible to known amounts of cash to be cash equivalents.

in ` c
Particulars Note no. Year ended March 31,
2021
Cash flow from operating activities
Profit for the year 18,048
Adjustments to reconcile net profit to net cash provided by operating activities
Depreciation, amortization and provision for impairment 2.1 & 2.2 &
2.3 & 2.24 2,604

Income tax expense 2.16 6,429

Impairment loss recognized / (reversed) under expected credit loss model 152
Finance cost 2.3 126
Interest and dividend income (1,795)
Stock compensation expense 297
Other adjustments (47)
Exchange differences on translation of assets and liabilities, net (32)
Changes in assets and liabilities
Trade receivables and unbilled revenue (1,414)
Loans, other financial assets and other assets (684)
Trade payables 2.12 (5)
Other financial liabilities, other liabilities and provisions 2,284
Cash generated from operations 25,963
Income taxes paid (6,061)
Net cash generated by operating activities 19,902
Cash flow from investing activities
Expenditure on property, plant and equipment and intangibles (1,720)
Deposits placed with corporations (183)
Loans to employees –
Loan given to subsidiaries (76)
Loan repaid by subsidiaries 328
Proceeds from redemption of debentures 623
Investment in subsidiaries (1,530)
Payment towards business transfer (237)
Proceeds from liquidation of a subsidiary 173
Payment of contingent consideration pertaining to acquisition (125)
Redemption of escrow pertaining to buyback –
Other receipts 49
Payments to acquire investments
Preference, equity securities and others –
Liquid mutual fund units and fixed maturity plan securities (31,814)
Tax-free bonds and government bonds (318)
Certificates of deposit –
Non-convertible debentures (3,398)
Government securities (7,346)
 Others (13)
Proceeds on sale of investments
Preference and equity securities 73
Liquid mutual fund units and fixed maturity plan securities 32,996
Tax-free bonds and government bonds –
Non-convertible debentures 944
Certificates of deposit 900
Commercial paper –
164 | Standalone financial statements
Infosys Annual Report 2020-21
ctions of a non-cash nature, any
d with investing or financing cash
any considers all highly liquid

in ` crore
Year ended March 31,
2020

15,543

2,144

4,934
127
114
(1,502)
226
(248)
17

(3,621)
319
(75)
1,475
19,453
(3,881)
15,572

(3,063)
(112)
(2)
(1,210)
444
286
(1,338)
–
–
(6)
257
46

(41)
(30,500)
(11)
(876)
(733)
(1,561)
 (2)

–
30,332
12
1,788
2,175
500
Particulars Note no. Year ended March 31,
2021
Government securities 2,704
Others –
Interest received 1,340
Dividend received from subsidiary 321
Net cash (used in) / from investing activities (6,309)
Cash flow from financing activities
Payment of lease liabilities 2.2 (420)
Buyback of equity shares including transaction cost –
Shares issued on exercise of employee stock options 9
Payment of dividends (including dividend distribution tax) (9,155)
Net cash used in financing activities (9,566)
Effect of exchange differences on translation of foreign currency cash and cash
equivalents 23

Net increase / (decrease) in cash and cash equivalents 4,027

Cash and cash equivalents at the beginning of the period 2.7 13,562
Cash and cash equivalents at the end of the period 17,612
Supplementary information
Restricted cash balance 2.7 154
The accompanying notes form an integral part of the Standalone financial statements.
As per our report of even date attached
for Deloitte Haskins & Sells LLP for and on behalf of the Board of Directors of Infosys Limited
Chartered Accountants
Firm’s Registration No.: 117366W/W-
100018
Sanjiv V. Pilgaonkar Nandan M. Nilekani Salil Parekh U.B. Pravin Rao Chief Operati
Partner Chairman Chief Executive Officer and and Whole-time Director
Membership No.: 039826 D. Sundaram Managing Director Jayesh Sanghrajka Executive V
Mumbai Director Nilanjan Roy President and Deputy Chief Finan
April 14, 2021 A.G.S. Manikantha Chief Financial Officer Officer
Company Secretary
Bengaluru April 14, 2021

Infosys Annual Report 2020-21 Standalone financial statements | 165

Year ended March 31,
2020
1,673
9
1,817
–
(116)

(364)
(7,478)
2
(9,551)
(17,391)

(54)

(1,935)
15,551
13,562

101

U.B. Pravin Rao Chief Operating Officer

and Whole-time Director
Jayesh Sanghrajka Executive Vice
President and Deputy Chief Financial
Officer

one financial statements | 165