- Signed a multi-year agreement with Daimler AG covering management of
infrastructure services and data centers.
- Consolidated IT and BPO operations for a major fashion retailer in the US as
part of a five-year Oracle Retail Support agreement. This will help the retailer
better focus on new brand acquisitions and global expansion.
- Designed an analytics-based solution to help one of UK's leading supermarket
chains drive targeted campaigns to enhance customer loyalty, acquire new customers and
- Migrated, supported and enhanced an automated outbound dialer application for
a telecom service provider in the US. This will help the provider integrate Short
Messaging Service for end users by deriving information from multiple systems like
billing and provisioning systems.
- Infosys Public Services (IPS) has been engaged by a postal solution provider
in the US to reduce cost of operation and efficiently maintain its plant equipment and
vehicle fleet asset management system. IPS is also migrating the client's
business-critical applications to a new data center by utilizing proprietary
application assessment tools and migration approaches for rapid execution with zero
- Our products and platforms business, Edgeverve Systems, is seeing increased
momentum. A global sports brand has engaged Edgeverve to help build a responsive user
experience-based multi-channel ecommerce store in India.
- Expanded the scope of our strategic partnerships to deliver value to
businesses across cloud-based infrastructure, analytics and big data. We broadened our
- Microsoft to securely expedite movement to Azure and hybrid cloud
environments while optimizing cloud investments.
- Oracle to enhance support for a range of innovative solutions and services
on new technology platforms across digital marketing, big data and Oracle Cloud
- Hitachi Data Systems to bring next-generation infrastructure and data
center transformation solutions to facilitate the smooth transitioning of IT
infrastructure to new cloud-based environments.
- Huawei to offer cloud, big data and communication solutions.
- Entered into a strategic relationship with the Institute for Computational
& Mathematical Engineering (ICME), Stanford University. Through this arrangement, we
will jointly develop curriculum in Data Science and Analytics focused on real-world
problem areas and will undertake joint research using Data Science to find solutions
to key industry issues.
- Working with faculty from the Stanford d.school and the d.Global initiative to
bring design thinking to our clients on a large scale.
- Extended the relationship with Oracle to enhance support for a range of
innovative solutions and services on new technology platforms.
- This quarter we made six unique patent applications in India and the US,
adding to a total of 505 unique patent applications in various stages of patent
prosecution in India, the US and other jurisdictions. Till date we have been granted
199 patents by the United States Patent and Trademark Office, three by the Luxembourg
Patent Office, one by the Australian Patent Office and one patent by the Intellectual
Property Office of Singapore.
Awards and Recognition
- Infosys was cited as a Leader and Star Performer in Life Sciences IT
Outsourcing in Everest Group's report; IT Outsourcing in Life Sciences Industry -
Service Provider Landscape with PEAK Matrix(TM) Assessment 2014.
- Infosys was positioned in the Winner's circle of the HFS Blueprint - SAP
- Infosys was named a Leader in the Magic Quadrant for Finance and Accounting
BPOby Gartner for the fourth consecutive year.
- Finacle emerged as a leader in a key industry assessment - The Forrester
Wave(TM): Customer-Centric Global Banking Platforms, Q3 2014. It was also judged a
winner by Juniper Research for the 2014 Future Mobile Awards in the mobile banking
category; and was rated by CEB TowerGroup analysts as 'Best in Class' for bank user
services and enterprise support.
- Infosys named a Leader in IDC MarketScape - Worldwide Oracle Implementation
Services Ecosystem 2014 report
Changes to the Board
The members of the company at the Extra-ordinary General Meeting held on July 30, 2014 approved the appointment of Dr. Vishal Sikka as the Chief Executive Officer and Managing Director effective August 1, 2014.
Mr. Narayana Murthy will cease to be Non-Executive Chairman effective October 10, 2014. He indicated that in line with the company's high corporate governance standards and to avoid any perceived conflicts, it would not be appropriate for him to be the Chairman Emeritus of Infosys. The Board accepted Mr. Murthy's decision and sincerely thanked him for his vision, leadership and guidance in making Infosys a globally respected company.
Mr. S. Gopalakrishnan will cease to be the Non-Executive Vice Chairman effective October 10, 2014. The Board expressed its deep sense of appreciation for the services rendered by him during his tenure at Infosys.
Mr. K.V. Kamath has been elected as the Chairman of the Board effective October 11, 2014.
The company has been classifying its founders, Narayana Murthy, Nandan Nilekani, S. Gopalakrishnan, S. D. Shibulal and K Dinesh along with their immediate family members as promoters/promoter group of the company in applicable disclosures with the stock exchanges and other regulatory authorities.
With the last two founders, Narayana Murthy and S Gopalakrishnan, remitting office, the founders have neither association with the company nor exercise any control over the affairs of the company after the current date. The founders have therefore requested the company to seek appropriate classification of their revised status. The company is in the process of seeking appropriate regulatory guidance on the same.
Infosys has pledged INR 254 crore ($42 million) towards Corporate Social Responsibility through the Infosys Foundation - its philanthropic arm. Infosys and its subsidiaries donated $13 million and $21 million to Infosys Foundation for the quarter and half-year ended September 30, 2014.
The Infosys Foundation executes several programs aimed at alleviating hunger, promoting education, improving health, assisting rural development, supporting arts and helping the destitute.
This quarter, Infosys Foundation constituted a corpus of INR 33 crore ($ 5 million) for the Chennai Mathematical Institute. This corpus will be used to enhance faculty compensation and support fellowship requirements for research students.
The Foundation also launched Spark-IT, a three-month program to enhance the skill levels of unemployed engineering graduates in the country. It has committed INR 9 crore ($ 1 million) for this program which will help train 1,800 graduates in the fiscal year 2015.
About Infosys Ltd
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit http://www.infosys.com [http://www.infosys.com/Pages/index.aspx ] to see how Infosys , with US$ 8.25 billion in annual revenues and 160,000+ employees, is Building Tomorrow's Enterprise(R) today.
Certain statements in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2014 and on Form 6-K for the quarter ended June 30, 2014. These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this press release is mentioned at the beginning of the release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Interim Balance Sheets as of
(Dollars in millions except equity share data)