Financial services | Manufacturing | Telecom | Retail | Others | Total | |
Segmental revenues | ||||||
2010 | 7,354 | 3,988 | 3,234 | 2,989 | 3,575 | 21,140 |
2009 | 7,020 | 3,876 | 3,450 | 2,699 | 3,219 | 20,264 |
Growth % | 4.7 | 2.9 | (6.3) | 10.7 | 11.1 | 4.3 |
Segmental operating income | ||||||
2010 | 2,644 | 1,258 | 1,167 | 1,065 | 1,226 | 7,360 |
2009 | 2,374 | 1,296 | 1,198 | 929 | 1,109 | 6,906 |
Growth % | 11.3 | (2.9) | (2.6) | 14.6 | 10.6 | 6.6 |
Segmental operating profit (%) | ||||||
2010 | 35.9 | 31.5 | 36.1 | 35.6 | 34.3 | 34.8 |
2009 | 33.8 | 33.4 | 34.7 | 34.4 | 34.5 | 34.1 |
North America | Europe | India | Rest of the World | Total | |
Segmental revenues | |||||
2010 | 14,170 | 4,633 | 269 | 2,068 | 21,140 |
2009 | 13,123 | 5,060 | 260 | 1,821 | 20,264 |
Growth % | 8.0 | (8.4) | 3.5 | 13.6 | 4.3 |
Segmental operating income | |||||
2010 | 5,028 | 1,650 | 133 | 549 | 7,360 |
2009 | 4,437 | 1,795 | 136 | 538 | 6,906 |
Growth % | 13.3 | (8.1) | (2.2) | 2.0 | 6.6 |
Segmental operating profit (%) | |||||
2010 | 35.5 | 35.6 | 49.4 | 26.5 | 34.8 |
2009 | 33.8 | 35.5 | 52.3 | 29.5 | 34.1 |
Our growth has been financed largely through cash generated from operations.
Net cash generated from operations was Rs. 5,876 crore and Rs. 5,152 crore for the years ended March 31, 2010 and March 31, 2009 respectively. Net cash used in investing activities was Rs. 3,314 crore and Rs. 195 crore for the years ended March 31, 2010 and March 31, 2009 respectively. Net cash used in financing activities was Rs. 1,486 crore and Rs. 2,430 crore for the years ended March 31, 2010 and March 31, 2009, respectively.
These have been discussed in detail in the Notes to the Abridged financial statements section of this report.
There were no significant events occurring after the Balance Sheet date.
We believe our competitive strengths include :
We seek to further strengthen our position as a leading global technology services company by successfully differentiating our service offerings and increasing the scale of our operations. To achieve these goals, we seek to :
We operate in a highly competitive and rapidly changing market and compete with consulting firms such as Accenture Limited, Atos Origin S.A., Cap Gemini S.A., and Deloitte Consulting LLP; divisions of large multinational technology firms such as Hewlett-Packard Company and International Business Machines Corporation; IT outsourcing firms such as Computer Sciences Corporation, Keane Inc., Logica Plc and Dell Perot Systems; offshore technology services firms such as Cognizant Technology Solutions Corporation, Tata Consultancy Services Limited and Wipro Technologies Limited; software firms such as Oracle Corporation and SAP A.G.; business process outsourcing firms such as Genpact Limited and WNS Global Services and in-house IT departments of large corporations.
In the future, we expect competition from firms establishing and building their offshore presence and firms in countries with lower personnel costs than those prevailing in India. However, we recognize that price alone cannot constitute a sustainable competitive advantage. We believe that the principal competitive factors in our business include the ability to effectively integrate onsite and offshore execution capabilities to deliver seamless, scalable, cost-effective services; increase scale and breadth of service offerings to provide one-stop solutions; provide industry expertise to clients’ business solutions; attract and retain high-quality technology professionals and maintain financial strength to make strategic investments in human resources and physical infrastructure through business cycles.
We believe we compete favorably with respect to these factors.
This section contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these statements as a result of certain factors.
The following lists our outlook, risks and concerns :
For more details on risk factors, refer to our quarterly and annual filings with the Securities and Exchange Commission (SEC), USA, available on our website www.infosys.com.
The CEO and CFO certification provided in the CEO and CFO Certification section of the Annual Report discusses the adequacy of our internal control systems and procedures.
Our culture and reputation as a leader in the technology services industry enables us to recruit and retain some of the best available talent in India.
Our employees are our most important and valuable assets. During fiscal 2010, we received approximately 4,00,800 applications, around 77,000 applicants underwent written tests. Approximately 61,000 were interviewed and 26,200 job offers were made. As of March 31, 2010, Infosys and its subsidiaries had employed approximately 1,13,800 employees, of which approximately 1,06,900 are technology professionals, including trainees. The key elements that define our culture include :
We have built our global talent pool by recruiting new students from premier universities, colleges and institutes in India and through need-based hiring of project leaders and middle managers. We recruit students in India who have consistently shown high levels of achievement. We have also begun selective recruitment at campuses in the U.S., the U.K., Australia and China. We rely on a rigorous selection process involving a series of aptitude tests and interviews to identify the best applicants. This selection process is continually assessed and refined based on performance tracking of past recruits.
With a total built-up area of 1.44 million square feet, the Infosys Global Education Center in Mysore, India can train approximately 14,000 employees at a time.
As of March 31, 2010, we employed 610 full-time employees as faculty, including 208 with doctorate or masters degrees. Our faculty conducts integrated training for our new employees. We also have our employees undergo certification programs each year to develop the skills relevant for their roles.
Leadership development is a core part of our training program. We established the Infosys Leadership Institute in our Mysore campus to enhance leadership skills required to manage the complexities of the rapidly changing marketplace and to further instill our culture.
We also have been working with several colleges across India through our Campus Connect program, enabling their faculty to provide industry related training to students.
Our technology professionals receive competitive salaries and benefits. We have also adopted a performance-linked compensation program that links compensation to individual performance, as well as our performance.