Infosys (NYSE: INFY) hits $20.2B revenue, guides FY27 growth and margins
Rhea-AI Filing Summary
Infosys Limited reported FY26 revenues of $20,158 million, up 3.1% in constant currency and 4.6% under IFRS, with an operating margin of 20.3% (21.0% on an adjusted basis). Net profit reached $3,313 million, and basic EPS was $0.81, compared with $0.76 a year earlier.
The company generated healthy free cash flow of $3,733 million and closed large deal wins totaling $14.9 billion, with 55% net new. The Board recommended a final dividend of ₹25 per share, taking total shareholder returns for FY26, including the interim dividend and a buyback, to over ₹37,500 crore1.5%–3.5% and an operating margin of 20%–22%, and announced planned auditor rotations and new stock-based incentives, alongside two U.S.-focused acquisitions to expand its healthcare and insurance technology capabilities.
Positive
- None.
Negative
- None.
Insights
Infosys delivered steady FY26 growth with strong cash generation and conservative FY27 guidance.
Infosys posted FY26 revenue of $20,158 million, up 3.1% in constant currency, with an IFRS operating margin of 20.3% and adjusted margin of 21.0%. Net profit was $3,313 million and free cash flow reached $3,733 million, indicating solid cash conversion.
Large deal total contract value of $14.9 billion with 55% net new supports medium-term demand, while FY27 revenue growth guidance of 1.5%–3.5% and margin of 20%–22% suggests a cautious outlook. A final dividend of ₹25 per share and over ₹37,500 crore returned, including a buyback, underline the capital return focus.
Planned auditor changes from Deloitte to BSR & Co in India and to KPMG as U.S. certifying accountant from the year ending March 31, 2028 reflect mandatory rotation and regulatory alignment. Announced acquisitions with potential consideration up to $465 million and $95 million expand capabilities in healthcare and insurance technology; financial impact will depend on integration and closing adjustments disclosed in future periods.
Key Figures
Key Terms
Free cash flow financial
Adjusted non-IFRS financial
Exceptional item financial
Ind-AS financial
Total contract value financial
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
For the month of April 2026
Commission File Number 001-35754
Infosys Limited
(Exact name of Registrant as specified in its charter)
Not Applicable.
(Translation of Registrant's name into English)
Electronics City, Hosur Road, Bengaluru - 560 100, Karnataka, India. +91-80-2852-0261
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:
Form 20-F þ Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
TABLE OF CONTENTS
| DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION |
| SIGNATURES |
| INDEX TO EXHIBITS |
| EXHIBIT 99.1 |
| EXHIBIT 99.2 |
| EXHIBIT 99.3 |
DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION
Infosys Limited (“we” or “the Company”) hereby furnishes the United States Securities and Exchange Commission with copies of the following information concerning our public disclosures regarding our results of operations and financial condition for the quarter and year ended March 31, 2026.
The following information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On April 23, 2026, we announced our results of operations for the quarter and year ended March 31, 2026. A copy of the outcome of the board meeting is attached to this Form 6-K as Exhibit 99.1.
We issued press releases announcing our results under International Financial Reporting Standards ("IFRS"), copies of which are attached to this Form 6-K as Exhibit 99.2.
We have placed the form of release to stock exchanges concerning our results of operations for the quarter and year ended March 31, 2026 under Indian Accounting Standards (Ind-AS). A copy of the release to stock exchanges is attached to this Form 6-K as Exhibit 99.3.
The Board of Directors declared a final dividend of 
25/- per equity share which will be paid on June 25, 2026 and announced that the 45th Annual General Meeting of the members of the Company
will be held on June 23, 2026. The record date for the purposes of the Annual General Meeting, final dividend is June 10,
2026.
The Board of Directors have approved the announcement of the Company’s intention to recommend the appointment of BSR & Co as the statutory auditors of the Company. The proposed appointment will be recommended by the Board to the shareholders in the 46th Annual General Meeting (AGM) of the Company to be held in the year 2027, for the first term of 5 (five) consecutive years till the conclusion of the 51st AGM to be held in the year 2032.
Additionally, the Audit Committee and the Board of Directors of the Company approved the announcement of the Company’s intention to appoint KPMG Assurance and Consulting Services LLP, (KPMG) as the independent registered public accounting firm of the Company. This proposed appointment is expected to be effective for the year ending March 31, 2028.
Among other things, Based on the recommendation of the Nomination and Remuneration Committee, approved the amendment to the Infosys Expanded Stock Ownership Program – 2019 to extend the grant period by seven (7) years from the date of shareholder approval, thereby extending the validity of the Plan to a total period of ten (10) years from such approval, for the grant of Employee Stock Options to Eligible Employees of the Company and its subsidiary companies. The amendment to the Infosys Expanded stock ownership program – 2019 shall be subject to the shareholders approval.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Infosys Limited
| |
|
Date: April 23, 2026 |
Jayesh Sanghrajka Chief Financial Officer |
INDEX TO EXHIBITS
| Exhibit No. | Description of Document |
| 99.1 | Outcome of the Board Meeting |
| 99.2 | IFRS USD press release |
| 99.3 |
Form of Release to Stock Exchanges |
Exhibit 99.1
Outcome of the Board meeting
Exhibit 99.2
IFRS USD Press Release
Revenue crosses $20 billion mark with resilient growth of 3.1% in FY 26 in constant currency
Strong Large Deal wins of $14.9 Billion and healthy Free Cash Flow of $3.7 Billion
FY 27 Guidance – Revenue Growth of 1.5%-3.5%, Operating Margin of 20%-22%
Bengaluru, India – April 23, 2026: Infosys (NSE, BSE, NYSE: INFY), a global leader in AI-first business consulting and technology services, delivered $20,158 million in FY 26 revenues with a growth of 3.1% in constant currency. Reported IFRS operating margin was at 20.3% and adjusted1 operating margin at 21.0%. EPS growth was 11.0% in rupee terms2. Free cash flow generation was healthy at $3,733 million. TCV of large deal wins was $14.9 billion, with net new of 55%.
Q4 revenues were $5,040 million, growth of 4.1% year on year in constant currency. Q4 operating margin was at 20.9%.
“We delivered a resilient performance in FY 26 with growth of 3.1% with strong large deal wins of $14.9 billion, reflecting the robustness of our enterprise AI value proposition and market share gains in large transformation opportunities. The simplicity and strength of our AI services strategy across six areas is gaining traction in the market further strengthened by strong ecosystem AI partnerships enabling clients to get value from AI”, said Salil Parekh, CEO and MD. “Our AI First value framework and differentiated Topaz Fabric, position us uniquely to deepen client trust and gain greater share of the market”, he added.
Guidance for FY27:
| · | Revenue growth of 1.5%-3.5% in constant currency |
| · | Operating margin of 20%-22% |
| 1. | Key highlights: |
| For the quarter ended March 31, 2026 | For the year ended March 31, 2026 |
|
· Revenues in CC terms grew by 4.1% YoY and declined by 1.3% QoQ
· Reported IFRS revenues at $5,040 million, growth of 6.6% YoY
· Reported IFRS operating margin at 20.9%
· Basic EPS at $0.23; increase of 15.7% YoY and 25.3% QoQ
· FCF at $833 million3; FCF conversion at 90.6% of net profit
|
· Revenues in CC terms grew by 3.1% YoY
· Reported IFRS revenues at $20,158 million, growth of 4.6% YoY
· Reported IFRS operating margin at 20.3%; Adjusted1 operating margin at 21.0%
· Basic EPS at $0.81; increase of 5.6% YoY
· FCF at $3,733 million3; FCF conversion at 112.6% of net profit
|
1,2,3 - Please refer to the last page of this release for detailed explanation
“FY 26 was a year of disciplined execution
and financial resilience reflecting in 21% adjusted operating margin and healthy free cash flow of $3.7 billion. Savings from Project
Maximus enabled us to invest in strategic areas like talent, AI and sales & marketing”, said Jayesh Sanghrajka, CFO.
“We remain focused on margins and cash generation as we navigate an evolving macro environment. In line with our capital allocation
policy, Board has proposed a final dividend of 25 per share, which along with interim dividend and recently concluded buyback,
amounts to over 37,500 crore returned to shareholders for FY 26”, he added.
2. Client wins & testimonials
| · | Infosys collaborated with Citizens to accelerate AI-driven transformation across its banking operations, product development, and customer experience. Michael Ruttledge, Chief Information Officer and Head of Enterprise Technology & Security, Citizens Financial Group, said, “Our AI-first Innovation Hub reflects Citizens’ long-term commitment to building modern, secure, and intelligent banking capabilities. Partnering with leading technology firms like Infosys and leveraging Infosys Topaz Fabric is helping transform how we serve our customers by integrating advanced AI at the core of our operations to deliver more modern, secure, and personalized banking experiences.” |
| · | Infosys collaborated with ExxonMobil to enable the development and deployment of high-efficiency cooling systems that can meet the growing demands of AI and high-performance computing workloads. Alistair Westwood, Global Marketing Manager, ExxonMobil Product Solutions Company, said, “This collaboration reflects our commitment to innovation by allowing us to apply our energy and thermal management expertise to the evolving landscape of digital infrastructure. Infosys’ suite of AI and digital services is enabling us to pilot and adopt infrastructure that is smarter, efficient, and more resilient.” |
| · | Infosys collaborated with Crocs to drive a comprehensive IT and business process transformation with AI-powered innovation and advanced automation capabilities. Tom Britt, Chief Information Officer, Crocs Inc, said: “As Crocs reimagines its IT landscape, we sought a partner who could combine deep domain expertise with a commitment to innovation and operational excellence. By leveraging Infosys’ AI and advanced automation capabilities, we will optimize operations, reduce costs, and scale responsibly—while driving continuous improvement and building a foundation for sustainable growth and digital resilience that positions Crocs for the future.” |
| · | Infosys announced a strategic collaboration with Incora to drive faster, accurate, and resilient supply chain operations with the use of artificial intelligence globally. “Infosys brings proven leadership in AI and large-scale digital transformation, making them an ideal choice as we continue to modernize our global supply chain,” said Hari Kumar Rajendran, Executive Vice President of Global Operations, Incora. “This alliance allows us to apply advanced AI capabilities in a practical, enterprise-wide way. Together, we are building a foundation that enables Incora to better serve our customers today and adapt to the future of aerospace and defense supply chains.” |
| · | Infosys and University of Nottingham extended their strategic collaboration to strengthen digital infrastructure of the University’s Student Management System, ensuring high performance and security compliance. Chris Hunt, Chief Operating Officer, University of Nottingham, said, “Collaborating with Infosys empowers the University of Nottingham to set new benchmarks in higher education. Our Student Management System is one of the most critical components of the university’s operations, supporting every stage of the student journey. Our embedded partnership with Infosys will help us strengthen our core services, accelerate innovation, and enhance the reliability and security of our digital ecosystem. By integrating cutting-edge digital solutions, we are not only enriching the student journey but also redefining what it means to be a leader in global academia.” |
| · | Infosys extended its strategic collaboration with ABN AMRO Bank to drive the Bank’s ambition of achieving sustainable and profitable growth through 2028. Carsten Bittner, Chief Innovation and Technology Officer at ABN AMRO Bank, said, “The renewed collaboration with Infosys will help further to simplify and modernize our IT landscape, while accelerating the responsible adoption of AI across the company. This engagement will enhance operational efficiency, deliver greater customer value, and help reduce complexity and operating costs.” |
| · | Infosys announced its strategic collaboration with Anthropic to unlock AI value with automated workflows, accelerated software delivery, and agentic AI solutions across complex, regulated industries. Dario Amodei, Chief Executive Officer and Co-Founder, Anthropic, said, “There’s a big gap between an AI model that works in a demo and one that works in a regulated industry – and if you want to close that gap, you need domain expertise. Infosys has exactly that kind of expertise across important industries: telecom, financial services, and manufacturing. Their developers are already using Claude Code to accelerate their work and to create AI agents for industries that demand precision, compliance, and deep domain knowledge.” |
| · | Infosys and Intel expanded their strategic collaboration to help enterprises move from AI pilots to production at scale, aimed at optimizing performance and delivering measurable enterprise outcomes across industries. Lip-Bu Tan, Chief Executive Officer, Intel, said, “Working closely with Infosys allows us to bring the power of Intel’s AI hardware ecosystem to enterprises globally. Together, we are delivering performance-optimized, energy-efficient, and open AI solutions that clients can deploy wherever their workloads reside – from data centers to the cloud to the edge.” |
| · | Infosys announced its strategic collaboration with Cursor to help enterprises build and scale AI-powered digital solutions and accelerate their AI value journey. Michael Truell, CEO and Co-Founder, Cursor, said, “Infosys’ commitment to building an AI-first organization makes them a natural collaborator for Cursor. Their global scale, delivery rigor, and deep industry expertise create an ideal environment to demonstrate what AI software engineering tools can achieve in the enterprise. We are excited to collaborate with Infosys as they enable over 100,000 software engineers at Infosys with agentic coding platforms and we look forward to helping their teams deliver breakthrough outcomes for customers worldwide.” |
| · | Infosys and Cognition announced strategic collaboration to accelerate the AI value journey for global enterprises with advanced agentic and autonomous engineering capabilities. Scott Wu, Founder & CEO, Cognition, said, “We are thrilled to collaborate with Infosys to bring the power of autonomous and agentic AI engineering to some of the world’s most complex enterprises. Infosys’ Exponential Engineering offering perfectly complements our mission to redefine how software is built. Infosys Topaz Fabric and Devin together offer unmatched capability from real-time developer augmentation to fully autonomous engineering execution. Infosys is the first large digital services and consulting firm to deploy agentic tools at this scale. By combining Infosys’ deep industry expertise with our platform, we are enabling clients to dramatically accelerate time-to-market, enhance ROI and unlock a new era of engineering transformation.” |
| · | Infosys Finacle and Producers Savings Bank Corporation announced an initiative to modernize the bank’s technology landscape in the Philippines through an upgrade to the latest version of the Finacle Core Banking Solution, enabling faster, broader, and more personalized customer experiences. Andres M. Cornejo, Vice-Chairman and Chief Executive Officer, Producers Bank, said, “Our decade-long association with Infosys Finacle has been pivotal to our modernization journey. As we celebrate 30 years as an institution, this modernization initiative will further strengthen our digital capabilities, enabling us to provide real-time banking services for our growing client base and scale our lending business with greater confidence. We deeply value Finacle’s collaboration, rich functionality, swift deployment, and proven reliability, and we are excited about the new possibilities this transformation will unlock.” |
| · | Infosys BPM collaborated with Old National Bank to support its digital transformation journey, spanning process optimization, automation, and emerging AI‐driven capabilities. Jeff Newcom, Chief Operations Officer, Old National Bank, said, “Our relationship with the digital delivery team has been another example of how Infosys’ expertise and resources have accelerated our ability to optimize and automate processes. Now, we’re exploring AI and Agentic AI to further advance our capabilities and delivery to our clients, so that we can continue to focus on putting our clients first without needing to build all of the capabilities ourselves.” |
Recognitions & Awards
Brand & Corporate
| · | Multiple awards from FinanceAsia, including Best CFO, Best Investor Relations and Best Large Cap Company |
| · | Recognized as one of the World’s Most Ethical Companies in 2026 for sixth consecutive year by Ethisphere |
| · | Awarded the Compliance Leader Verification™ by Ethisphere for its commitment to fostering a strong culture of integrity, accountability, and responsible governance across its global operations |
| · | Recognized as a Top 3 IT services brand and the fastest growing IT services brand globally in the Brand Finance Global 500 2026 report |
| · | Recognized as a Global Top Employer 2026 for the sixth consecutive year by the Top Employer Institute |
| · | Infosys BPM recognized as a Global Top Employer 2026 by the Top Employers Institute |
AI and Cloud Services
| · | Rated as a market leader in HFS Horizons: Agentic Services, 2026 |
| · | Recognized as a leader in Constellation ShortList: Observability and AIOps Services |
| · | Recognized as a leader in Constellation ShortList: Cross-Platform Agentic AI |
| · | Featured as a leader in PAC INNOVATION RADAR SAP Business AI and Joule-related Service Worldwide 2026 |
Key Digital Services
| · | Positioned as a leader in Everest Group Private Equity (PE) Services PEAK Matrix® Assessment 2026 |
| · | Positioned as a leader in Everest Group Software Product Engineering Services PEAK Matrix® Assessment 2026 – Global |
| · | Rated as a market leader in HFS Horizons: Next-gen IT Infrastructure Services, 2026 |
| · | Recognized as a leader in Constellation ShortList: for Microsoft End-to-End Service Providers |
| · | Recognized as a leader in Constellation ShortList: Innovation Services and Engineering |
| · | Recognized as a leader in Constellation ShortList: Cybersecurity Services |
| · | Recognized as a leader in Constellation ShortList: Custom Software Development Services |
| · | Recognized as a leader in Constellation ShortList: Learning Marketplaces |
| · | Featured as a leader in PAC RADAR SAP-related Services Worldwide 2026 |
Industry & Solutions
| · | Infosys Finacle positioned as a leader in 2026 Gartner® Magic Quadrant™ for Banking Payment Hub Platforms report |
| · | Infosys Finacle along with its customer HDFC Bank received the Retail Banker International Asia Trailblazer Awards 2026 for Excellence in Mass Affluent Banking |
Read more about our Awards & Recognitions here.
About Infosys
|
Infosys is a global leader in AI first business consulting and technology services. Over 325,000 of our people work to amplify human potential and create the next opportunity for people, businesses, and communities. As navigators of enterprise transformation, we enable businesses in 63 countries to unlock AI value at scale. With over four decades of experience in managing the systems and workings of global enterprises, we accelerate business transformation through our AI-first value framework, deep domain expertise, and our unique ability to orchestrate innovations from our AI-native partner ecosystem. Infosys is counted among the world’s Top 100 brands committed to being a well-governed, environmentally sustainable partner for our clients where deep talent expertise, in an inclusive workplace, help them navigate their next. Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next. |
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Safe Harbor
Certain statements in this release, including those concerning our future growth prospects and our future financial or operating performance, are forward looking statements 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 or outcomes 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 the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations such as artificial intelligence, the complex and evolving regulatory landscape including immigration regulation changes and developments in the US H-1B visa program, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity and capital resources, our corporate actions including acquisitions, cybersecurity matters, the outcome of pending litigation and the US government investigation, and the effect of current and any future tariffs. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2025. These filings are available at 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. 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.
Contact
| Investor Relations | Sandeep Mahindroo +91 80 3980 1018 Sandeep_Mahindroo@infosys.com |
|
| Media Relations |
Rishi Basu Rajarshi.Basu@infosys.com |
Chad Darwin |
Infosys Limited and subsidiaries
Extracted from the Condensed Consolidated Balance Sheet under IFRS as at:
(in $ million)
| Particulars | March 31, 2026 | March 31, 2025 |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | 2,341 | 2,861 |
| Current investments | 1,365 | 1,460 |
| Trade receivables | 3,715 | 3,645 |
| Unbilled revenue | 1,633 | 1,503 |
| Other current assets | 1,858 | 1,890 |
| Total current assets | 10,912 | 11,359 |
| Non-current assets | ||
| Property, plant and equipment and Right-of-use assets | 2,057 | 2,235 |
| Goodwill and other Intangible assets | 1,576 | 1,505 |
| Non-current investments | 942 | 1,294 |
| Unbilled revenue | 183 | 261 |
| Other non-current assets | 776 | 765 |
| Total non-current assets | 5,534 | 6,060 |
| Total assets | 16,446 | 17,419 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Trade payables | 500 | 487 |
| Unearned revenue | 1,248 | 994 |
| Employee benefit obligations | 372 | 340 |
| Other current liabilities and provisions | 3,396 | 3,191 |
| Total current liabilities | 5,516 | 5,012 |
| Non-current liabilities | ||
| Lease liabilities | 634 | 675 |
| Other non-current liabilities | 456 | 477 |
| Total non-current liabilities | 1,090 | 1,152 |
| Total liabilities | 6,606 | 6,164 |
| Total equity attributable to equity holders of the company | 9,786 | 11,205 |
| Non-controlling interests | 54 | 50 |
| Total equity | 9,840 | 11,255 |
| Total liabilities and equity | 16,446 | 17,419 |
Extracted from the Condensed Consolidated Statement of Comprehensive Income under IFRS for:
(in $ million except per equity share data)
| Particulars | 3 months ended March 31, 2026 | 3 months ended March 31, 2025 | Year ended March 31, 2026 | Year ended March 31, 2025 |
| Revenues | 5,040 | 4,730 | 20,158 | 19,277 |
| Cost of sales | 3,485 | 3,302 | 14,079 | 13,405 |
| Gross profit | 1,555 | 1,428 | 6,079 | 5,872 |
| Operating expenses: | ||||
| Selling and marketing expenses | 256 | 226 | 1,025 | 898 |
| Administrative expenses | 244 | 210 | 969 | 903 |
| Total operating expenses | 500 | 436 | 1,994 | 1,801 |
| Operating profit | 1,055 | 992 | 4,085 | 4,071 |
| Other income, net of finance cost (b) | 113 | 125 | 421 | 376 |
| Profit before income taxes | 1,168 | 1,117 | 4,506 | 4,447 |
| Income tax expense (b) | 248 | 303 | 1,190 | 1,285 |
| Net profit (before non-controlling interests) | 920 | 814 | 3,316 | 3,162 |
| Net profit (after non-controlling interests) | 919 | 813 | 3,313 | 3,158 |
| Basic EPS ($) | 0.23 | 0.20 | 0.81 | 0.76 |
| Diluted EPS ($) | 0.23 | 0.20 | 0.80 | 0.76 |
NOTES:
| a) | The above information is extracted from the audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the quarter and year ended March 31, 2026, which have been taken on record at the Board meeting held on April 23, 2026. |
| b) | Includes interest income (pre-tax) of $41 million and $38 million for the quarter and year ended March 31, 2026 and March 31, 2025 respectively, and reversal of tax provisions amounting to $83 million and $12 million for the quarter and year ended March 31, 2026 and March 31, 2025 respectively. This is on account of orders received under sections 250 and 254 of the Income Tax Act, 1961 for certain assessment years. |
| c) | Revenue growth in reported currency includes the impact of currency fluctuations. Additionally, we calculate constant currency (CC) growth by comparing current period revenues in respective local currencies converted to US$ using prior period exchange rates and comparing the same to our prior period reported revenues. |
| d) | A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com. |
Reconciliation of Reported IFRS financial measures to Adjusted non-IFRS financial measures for year ended
(in $ million)
| March 31, 2026 | March 31, 2025 | |||
| Operating Profit | Operating Margin (%) | Operating Profit | Operating Margin (%) | |
| Reported IFRS | 4,085 | 20.3 | 4,071 | 21.1 |
| Adjustments1 | 143 | 0.7 | – | – |
| Adjusted non-IFRS | 4,228 | 21.0 | 4,071 | 21.1 |
NOTES:
| 1. | The adjusted non-IFRS measures excludes the effect of, the provisions of The Labour Codes notified by The Government of India on November 21, 2025 which resulted in an increase in gratuity liability (arising out of past service cost relating to plan amendment) and leave liability by $143 million, which is recognized in the Consolidated Statement of Comprehensive Income. This also resulted in a lower tax of $35 million in the year ended March 31, 2026. |
| 2. | Excluding
the effect of Income Tax orders received under sections 250 and 254 of the Income Tax Act, 1961 and The Labour Codes provisions notified
by the Government of India, EPS increase (in terms) is 12.1% and 13.9% YoY for the year and quarter ended March 31, 2026, respectively. |
| 3. | The free cash flow includes cash payments made towards The Labour Codes of $49 million and $99 million for the quarter and year ended March 31, 2026, respectively. |
| 4. | We are using non-IFRS financial performance measures to supplement the financial information reported on an IFRS basis. These non-IFRS financial measures should not be considered in isolation or as a substitute for the relevant IFRS measures and should be read in conjunction with information presented on a reported IFRS basis. We believe these adjustments are necessary to reflect the Company's core performance across periods. |
Exhibit 99.3
Form of Release to Stock Exchanges
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Infosys Limited Regd. office: Electronics City, Hosur Road, Bengaluru 560 100, India |
CIN : L85110KA1981PLC013115 Website: www.infosys.com email: investors@infosys.com T: 91 80 2852 0261, F: 91 80 2852 0362 |
Statement of Consolidated Audited Results of Infosys Limited and its subsidiaries for the quarter and year ended March 31, 2026 prepared in compliance with the Indian Accounting Standards (Ind-AS)
(in crore, except per equity share data)
| Particulars | Quarter ended March 31, |
Quarter ended December 31, |
Quarter ended March 31, |
Year ended March 31, | |
| 2026 | 2025 | 2025 | 2026 | 2025 | |
| Audited | Audited | Audited | Audited | Audited | |
| Revenue from operations | 46,402 | 45,479 | 40,925 | 178,650 | 162,990 |
| Other income, net (refer to note 1(g)) | 1,159 | 1,139 | 1,190 | 4,322 | 3,600 |
| Total Income | 47,561 | 46,618 | 42,115 | 182,972 | 166,590 |
| Expenses | |||||
| Employee benefit expenses | 24,688 | 24,122 | 22,015 | 95,094 | 85,950 |
| Cost of technical sub-contractors | 3,952 | 4,092 | 3,276 | 15,421 | 12,937 |
| Travel expenses | 532 | 510 | 520 | 2,097 | 1,894 |
| Cost of software packages and others | 3,969 | 3,982 | 3,899 | 15,722 | 15,911 |
| Communication expenses | 141 | 159 | 147 | 603 | 620 |
| Consultancy and professional charges | 661 | 486 | 301 | 2,090 | 1,655 |
| Depreciation and amortisation expenses (1) | 1,424 | 1,155 | 1,299 | 4,902 | 4,812 |
| Finance cost | 105 | 100 | 102 | 416 | 416 |
| Other expenses | 1,292 | 1,494 | 893 | 5,343 | 4,787 |
| Total expenses | 36,764 | 36,100 | 32,452 | 141,688 | 128,982 |
| Profit before exceptional item and tax | 10,797 | 10,518 | 9,663 | 41,284 | 37,608 |
| Exceptional item | |||||
| Impact of Labour Codes (refer to note 1(e)) | – | 1,289 | – | 1,289 | – |
| Profit before tax | 10,797 | 9,229 | 9,663 | 39,995 | 37,608 |
| Tax expense:(refer to note 1(f)) | |||||
| Current tax | 2,664 | 2,871 | 2,784 | 11,767 | 12,130 |
| Deferred tax | (376) | (308) | (159) | (1,246) | (1,272) |
| Profit for the period | 8,509 | 6,666 | 7,038 | 29,474 | 26,750 |
| Other comprehensive income | |||||
| Items that will not be reclassified subsequently to profit or loss | |||||
| Remeasurement of the net defined benefit liability/asset, net | (236) | 56 | (145) | (288) | (92) |
| Equity instruments through other comprehensive income, net | 374 | (4) | 29 | 397 | 19 |
| Items that will be reclassified subsequently to profit or loss | |||||
| Fair value changes on derivatives designated as cash flow hedge, net | (11) | 4 | (56) | (1) | (24) |
| Exchange differences on translation of foreign operations | 1,021 | 354 | 384 | 3,256 | 357 |
| Fair value changes on investments, net | (93) | (23) | 63 | (27) | 199 |
| Total other comprehensive income/(loss), net of tax | 1,055 | 387 | 275 | 3,337 | 459 |
| Total comprehensive income for the period | 9,564 | 7,053 | 7,313 | 32,811 | 27,209 |
| Profit attributable to: | |||||
| Owners of the company | 8,501 | 6,654 | 7,033 | 29,440 | 26,713 |
| Non-controlling interests | 8 | 12 | 5 | 34 | 37 |
| 8,509 | 6,666 | 7,038 | 29,474 | 26,750 | |
| Total comprehensive income attributable to: | |||||
| Owners of the company | 9,546 | 7,040 | 7,304 | 32,750 | 27,167 |
| Non-controlling interests | 18 | 13 | 9 | 61 | 42 |
| 9,564 | 7,053 | 7,313 | 32,811 | 27,209 | |
| Paid up share capital (par value 5/- each, fully paid) |
2,024 | 2,024 | 2,073 | 2,024 | 2,073 |
| Other equity *# | 90,828 | 93,745 | 93,745 | 90,828 | 93,745 |
| Earnings per equity share (par value 5/- each)** |
|||||
| Basic (in per share) |
21.01 | 16.17 | 16.98 | 71.58 | 64.50 |
| Diluted (in per share) |
20.98 | 16.14 | 16.94 | 71.46 | 64.34 |
| * | Balances for the quarter ended December 31, 2025 represent balances as per the audited Balance Sheet as at March 31, 2025 as required by SEBI (Listing and Other Disclosure Requirements) Regulations, 2015 |
| ** | EPS is not annualized for the quarter ended March 31, 2026, quarter ended December 31, 2025 and quarter ended March 31, 2025. |
| # | Excludes non-controlling interest |
| (1) | A decline in the revenue estimates led to the carrying value of the customer related intangibles
assets recognized on business combination exceeding the estimated recoverable amount. The Company has recognized 241
crore as the excess of carrying value over the estimated recoverable value for the quarter and year ended March 31, 2026 and 188
crore for the quarter and year ended March 31, 2025. |
1. Notes
a) The audited interim condensed consolidated financial statements for the quarter and year ended March 31, 2026 have been taken on record by the Board of Directors at its meeting held on April 23, 2026. The statutory auditors, Deloitte Haskins & Sells LLP have expressed an unmodified audit opinion. The information presented above is extracted from the audited interim condensed consolidated financial statements. Those interim condensed consolidated financial statements are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter.
b) Proposed change of Auditors on account of mandatory rotation requirement in India
Under Section 139 of the Companies Act, 2013 and the Rules made thereunder, it is mandatory for Infosys Limited (‘the Company’) to rotate the current statutory auditors on completion of the maximum term permitted under the said Section. On April 23, 2026, the Audit Committee of Infosys Limited has proposed its intent to recommend the appointment of BSR & Co. LLP, Chartered Accountants (Firm Registration No. 101248W/W-100022) (BSR & Co) as the statutory auditors of the Company. The Board of Directors at its meeting held on April 23, 2026 have approved the announcement of the Company’s intention to recommend the appointment of BSR & Co as the statutory auditors of the Company. The proposed appointment will be recommended by the Board to the shareholders in the 46th Annual General Meeting (AGM) of the Company to be held in the year 2027, for the first term of 5 (five) consecutive years till the conclusion of the 51st AGM to be held in the year 2032. The first year of audit by BSR & Co will be of the financial statements for the year ending March 31, 2028 which will include audit of the quarterly financial statements for the year.
The proposed intent to appoint BSR & Co is subject to the fulfilment of all applicable regulatory requirements including auditor independence in accordance with the relevant laws and regulations.
c) Proposed change in the Company’s certifying accountant for filing with the U.S. Securities and Exchange Commission (‘U.S. SEC’)
The Company is registered with the U.S. SEC and is required to appoint a certifying accountant to perform an audit of its financial statements. The Audit Committee and the Board of Directors of the Company approved the announcement of the Company’s intention to appoint KPMG Assurance and Consulting Services LLP, (KPMG) as the independent registered public accounting firm of the Company. This proposed appointment is expected to be effective for the year ending March 31, 2028. As the independent registered public accounting firm, KPMG will audit the annual financial statements of the Company to be included in the Company’s Annual Report on Form 20-F to be filed with the U.S SEC for the year ending March 31, 2028.
The proposed intent to appoint KPMG is subject to the fulfilment of all applicable regulatory requirements including auditor independence in accordance with the relevant laws and regulations.
d) Appointment of Independent Director
Based on the recommendation of the Nomination and Remuneration Committee, the Board had considered and approved the appointment of Diane Enberg Jurgens (DIN: 11585200) on April 17,2026, as an Additional & Independent Director effective April 22, 2026 for a period of 3 (years), subject to the approval of shareholders.
e) Impact of Labour Codes
On November 21, 2025, the Government of India notified
provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety,
Health and Working Conditions Code, 2020, (‘Labour Codes’) which consolidate twenty-nine existing labour laws into a unified
framework governing employee benefits during employment and post-employment. The Labour Codes, amongst other things, introduced changes
including a uniform definition of wages and enhanced benefits relating to leave.The Group had assessed the financial implications of these
changes which had resulted in increase in gratuity liability arising out of past service cost and increase in leave liability by 1,289
crore. Considering the impact arising out of an enactment of the new legislation is an event of non-recurring nature, the Group has presented
this incremental amount as “Impact of Labour Codes” under “Exceptional Item” in the Consolidated Statement of
Profit and Loss for the quarter ended December 31, 2025 and for the year ended March 31, 2026. The Group continues to monitor the developments
pertaining to Labour Codes and will evaluate impact if any on the measurement of liability pertaining to employee benefits.
f) Update on orders received from the Indian Income tax department
During the year ended March 31, 2026, the Company received
orders under section 250 and Section 254 of the Income Tax Act, 1961 from the Income Tax Authorities in India for the assessment years,
2013-14 and assessment years 2017-18 to 2021-22. These orders confirmed the Company's position with respect to tax treatment of certain
matters. As a result interest income (pre-tax) of 381 crore (included in other income as mentioned in point (g) below) was recognized
and provision for income tax aggregating 869 crore was reversed with a corresponding credit to the Statement of Profit and Loss.
Also, upon resolution of the disputes, an amount aggregating to 86 crore has been reduced from contingent liabilities.
g) Other income includes interest on income
tax refund of 408 crore and 328 crore for the quarter ended March 31, 2026 and March 31, 2025 respectively, 421 crore
and 343 crore for the year ended March 31, 2026 and March 31, 2025 respectively and 8 crore for the quarter ended December
31, 2025.
h) Update on acquisitions
i) On March 25, 2026, Infosys Nova Holdings LLC, a
wholly-owned subsidiary of Infosys Limited, entered into a definitive agreement to acquire 100% of the equity share capital of Optimum
Achieve Holdings Inc., a leading healthcare digital transformation and consulting firm headquartered in USA, along with its other subsidiaries
including Optimum Healthcare IT, LLC, for a consideration including earn-outs amounting up to $465 million (approximately 4,410
crore), excluding management incentives and retention bonus, subject to customary closing adjustments.
ii) On March 25, 2026, Infosys Nova Holdings LLC a
wholly-owned subsidiary of Infosys Limited, entered into a definitive agreement to acquire 100% of the partnership interests of Stratus
Global LLC, a leading insurance technology partner serving P&C insurers and managing general agents (MGAs), headquartered in USA,
for a consideration including earn-outs amounting up to $95 million (approximately 901 crore), excluding management incentives,
and retention bonus, subject to customary closing adjustments. Subsequently as on the date of these results, Infosys Nova Holdings LLC
has completed its acquisition of Stratus Global LLC.
i) Update on stock grants
i) Grants to CEO & MD
The Board, on April 23, 2026, based on the recommendations of the Nomination and Remuneration Committee, approved the following annual grants to Salil Parekh, CEO and MD as per his employment agreement approved by shareholders:
a) The grant of annual performance-based stock incentives
(Annual Performance Equity Grant) in the form of Restricted Stock Units (RSU's) covering Company’s equity shares having a market
value of 34.75 crore as on the date of the grant under the 2015 Stock Incentive Compensation Plan (2015 plan) which shall vest
12 months from the date of grant subject to achievement of performance targets as determined by the Board.
b) The grant of annual performance-based stock incentives
(Annual performance equity ESG grant) in the form of RSU's covering Company’s equity shares having a market value of 2 crore
as on the date of the grant under the 2015 Plan, which shall vest 12 months from the date of the grant subject to the Company’s
achievement of certain environment, social and governance milestones as determined by the Board.
c) The grant of annual performance-based stock incentives
(Annual performance Equity TSR grant) in the form of RSU's covering Company’s equity shares having a market value of 5 crore
as on the date of the grant under the 2015 Plan, which shall vest on or after March 31, 2027 subject to the Company’s performance
on cumulative relative TSR for the two year cumulative period and as determined by the Board.
d) The grant of annual performance-based stock
incentives (2019 Annual Performance Equity Grant) in the form of Restricted Stock Units (RSU's) covering Company’s equity
shares having a market value of 10 crore as on the date of the grant under the Infosys Expanded
Stock Ownership Program-2019 (2019 Plan), which shall vest 12 months from the date of the grant subject to the Company’s
achievement of certain performance criteria as laid out in the 2019 Plan.
The above RSUs will be granted w.e.f May 2, 2026 and the number of RSU's will be calculated based on the market price at the close of trading day on a date immediately preceding the grant date.
ii) Grants to other employees
The Board, on April 23, 2026, based on the recommendations
of the Nomination and Remuneration Committee, approved:
- Grant of 27,193 Restricted Stock Units (RSUs) under the 2015 Plan to eligible employees.
- Grant of Performance Based Stock incentives (PSUs)
to eligible employee under the 2019 Plan covering the Company’s equity shares having a market value of 1.90 crore as on the
date of the grant. The number of PSUs will be calculated based on the market price at the close of trading day on a date immediately preceding
the grant date.
The grants made under the 2015 Plan would vest equally over a period of two to three years and the grants made under the 2019 Plan would vest over a period of two years subject to the Company’s achievement of performance parameters as defined in the 2019 Plan. The RSUs and PSUs will be granted w.e.f May 2, 2026 and the exercise price will be equal to the par value of the share.
2. Information on dividends for the quarter and year ended March 31, 2026
For financial year 2026, the Board recommended a final
dividend of 25/- (par value of 5/- each) per equity share. This payment is subject to the approval of shareholders in the
Annual General Meeting (AGM) of the Company to be held on June 23, 2026. The record date for the purpose of the payment of final dividend
is June 10, 2026. The dividend will be paid on June 25, 2026. For the financial year ended 2025, the Company declared a final dividend
of 22/- (par value of 5/- each) per equity share.
The Board of Directors (in the meeting held on October
16, 2025) declared an interim dividend of 23/-per equity share. The record date for the payment was October 27, 2025 and the same
was paid on November 7, 2025. The interim dividend declared in the previous year was 21/- per equity share.
(in )
| Particulars | Quarter ended March 31, |
Quarter ended December 31, |
Quarter ended March 31, |
Year ended March 31, | |
| 2026 | 2025 | 2025 | 2026 | 2025 | |
| Dividend per share (par value 5/- each) |
|||||
| Interim dividend | – | – | – | 23.00 | 21.00 |
| Final dividend | 25.00 | – | 22.00 | 25.00 | 22.00 |
3. Audited Consolidated Balance Sheet
(in crore)
| Particulars | As at | |
| March 31 2026 | March 31 2025 | |
| ASSETS | ||
| Non-current assets | ||
| Property, plant and equipment | 12,651 | 11,778 |
| Right of use assets | 6,177 | 6,311 |
| Capital work-in-progress | 526 | 814 |
| Goodwill | 12,117 | 10,106 |
| Other Intangible assets | 2,825 | 2,766 |
| Financial assets | ||
| Investments | 8,930 | 11,059 |
| Loans | 6 | 16 |
| Other financial assets | 2,776 | 3,511 |
| Deferred tax assets (net) | 2,264 | 1,108 |
| Income tax assets (net) | 666 | 1,622 |
| Other non-current assets | 3,540 | 2,713 |
| Total non-current assets | 52,478 | 51,804 |
| Current assets | ||
| Financial assets | ||
| Investments | 12,950 | 12,482 |
| Trade receivables | 35,234 | 31,158 |
| Cash and cash equivalents | 22,201 | 24,455 |
| Loans | 234 | 249 |
| Other financial assets | 15,890 | 13,840 |
| Income tax assets (net) | 1,835 | 2,975 |
| Other current assets | 15,145 | 11,940 |
| Total current assets | 103,489 | 97,099 |
| Total Assets | 155,967 | 148,903 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity share capital | 2,024 | 2,073 |
| Other equity | 90,828 | 93,745 |
| Total equity attributable to equity holders of the Company | 92,852 | 95,818 |
| Non-controlling interests | 445 | 385 |
| Total equity | 93,297 | 96,203 |
| Liabilities | ||
| Non-current liabilities | ||
| Financial liabilities | ||
| Lease liabilities | 6,016 | 5,772 |
| Other financial liabilities | 2,092 | 2,141 |
| Deferred tax liabilities (net) | 1,679 | 1,722 |
| Other non-current liabilities | 561 | 215 |
| Total non-current liabilities | 10,348 | 9,850 |
| Current liabilities | ||
| Financial liabilities | ||
| Lease liabilities | 3,160 | 2,455 |
| Trade payables | 4,744 | 4,164 |
| Other financial liabilities | 21,483 | 18,138 |
| Other Current Liabilities | 15,779 | 11,765 |
| Provisions | 1,512 | 1,475 |
| Income tax liabilities (net) | 5,644 | 4,853 |
| Total current liabilities | 52,322 | 42,850 |
| Total equity and liabilities | 155,967 | 148,903 |
The disclosure is an extract of the audited Consolidated Balance Sheet as at March 31, 2026 and March 31, 2025 prepared in compliance with the Indian Accounting Standards (Ind-AS).
4. Audited Consolidated Statement of Cash Flows
(in crore)
| Particulars | Year ended March 31, | |
| 2026 | 2025 | |
| Cash flow from operating activities | ||
| Profit for the year | 29,474 | 26,750 |
| Adjustments to reconcile net profit to net cash provided by operating activities: | ||
| Income tax expense | 10,521 | 10,858 |
| Depreciation and amortization | 4,902 | 4,812 |
| Interest and dividend income | (2,630) | (2,570) |
| Finance cost | 416 | 416 |
| Impairment loss recognized / (reversed) under expected credit loss model | 33 | 48 |
| Exchange differences on translation of assets and liabilities, net | 954 | 79 |
| Stock compensation expense | 952 | 802 |
| Interest receivable on income tax refund | (63) | (327) |
| Provision for post sale client support | (167) | (110) |
| Other adjustments | 881 | 833 |
| Changes in assets and liabilities | ||
| Trade receivables and unbilled revenue | (5,177) | (1,769) |
| Loans, other financial assets and other assets | (2,645) | (1,024) |
| Trade payables | (26) | 176 |
| Other financial liabilities, other liabilities and provisions | 5,209 | 2,322 |
| Cash generated from operations | 42,634 | 41,296 |
| Income taxes (paid) / received | (8,648) | (5,602) |
| Net cash generated by operating activities | 33,986 | 35,694 |
| Cash flows from investing activities | ||
| Expenditure on property, plant and equipment and intangibles, net of sale proceeds | (2,727) | (2,237) |
| Deposits placed with corporation | (944) | (1,225) |
| Redemption of deposits placed with Corporation | 725 | 776 |
| Interest and dividend received | 2,713 | 2,040 |
| Payment towards acquisition of business, net of cash acquired | (637) | (3,155) |
| Payment of contingent consideration pertaining to acquisition of business | (13) | – |
| Escrow and other deposits pertaining to Buyback | (1,815) | – |
| Redemption of escrow and other deposits pertaining to Buyback | 1,815 | – |
| Other receipts | 15 | 10 |
| Payments to acquire Investments | ||
| Tax free bonds and government bonds | (153) | (2) |
| Mutual fund units | (72,878) | (73,048) |
| Certificates of deposit | (14,035) | (6,978) |
| Commercial Paper | (3,255) | (6,403) |
| Non convertible debentures | (3,438) | (3,240) |
| Government securities | (2,859) | – |
| Other investments | (38) | (60) |
| Proceeds on sale of Investments | ||
| Tax free bonds and government bonds | 1,378 | 109 |
| Target Maturity funds | 487 | – |
| Mutual fund units | 72,682 | 73,987 |
| Certificates of deposit | 9,767 | 6,688 |
| Commercial Papers | 5,810 | 7,735 |
| Non-convertible debentures | 4,083 | 2,591 |
| Government securities | 5,259 | 455 |
| Other investments | 4 | 11 |
| Net cash generated / (used in) investing activities | 1,946 | (1,946) |
| Cash flows from financing activities: | ||
| Payment of lease liabilities | (2,824) | (2,355) |
| Payment of dividends | (18,653) | (20,287) |
| Loan repayment of in-tech Holding GmbH | – | (985) |
| Payment of dividend to non-controlling interest of subsidiary | (3) | (2) |
| Shares issued on exercise of employee stock options | 2 | 6 |
| Buyback of equity shares including transaction costs | (18,058) | – |
| Other payments | (250) | (538) |
| Net cash used in financing activities | (39,786) | (24,161) |
| Net increase / (decrease) in cash and cash equivalents | (3,854) | 9,587 |
| Effect of exchange rate changes on cash and cash equivalents | 1,600 | 82 |
| Cash and cash equivalents at the beginning of the period | 24,455 | 14,786 |
| Cash and cash equivalents at the end of the period | 22,201 | 24,455 |
| Supplementary information: | ||
| Restricted cash balance | 422 | 424 |
The disclosure is an extract of the audited Consolidated Statement of Cash flows for the year ended March 31, 2026 and March 31, 2025 prepared in compliance with Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting.
5. Segment reporting (Consolidated - Audited)
(in crore)
| Particulars | Quarter ended March 31, |
Quarter ended December 31, |
Quarter ended March 31, |
Year ended March 31, | |
| 2026 | 2025 | 2025 | 2026 | 2025 | |
| Revenue by business segment | |||||
| Financial Services (1) | 12,976 | 12,817 | 11,614 | 49,908 | 45,175 |
| Manufacturing | 7,358 | 7,570 | 6,527 | 29,078 | 25,207 |
| Energy, Utilities, Resources and Services | 6,114 | 6,016 | 5,308 | 23,818 | 21,710 |
| Retail (2) | 5,958 | 5,829 | 5,440 | 23,077 | 22,059 |
| Communication (3) | 5,752 | 5,518 | 4,798 | 21,765 | 19,108 |
| Hi-Tech | 3,558 | 3,371 | 3,397 | 13,928 | 13,090 |
| Life Sciences (4) | 3,393 | 3,267 | 2,765 | 12,267 | 11,831 |
| All other segments (5) | 1,293 | 1,091 | 1,076 | 4,809 | 4,810 |
| Total | 46,402 | 45,479 | 40,925 | 178,650 | 162,990 |
| Less: Inter-segment revenue | – | – | – | – | – |
| Net revenue from operations | 46,402 | 45,479 | 40,925 | 178,650 | 162,990 |
| Segment Profit: | |||||
| Financial Services (1) | 3,410 | 3,236 | 2,948 | 12,678 | 11,099 |
| Manufacturing | 1,541 | 1,735 | 1,196 | 6,444 | 4,856 |
| Energy, Utilities , Resources and Services | 1,548 | 1,493 | 1,577 | 5,984 | 6,097 |
| Retail (2) | 1,811 | 1,867 | 1,640 | 7,089 | 7,133 |
| Communication (3) | 1,027 | 936 | 836 | 3,861 | 3,341 |
| Hi-Tech | 930 | 767 | 795 | 3,228 | 3,220 |
| Life Sciences (4) | 659 | 698 | 617 | 2,444 | 2,663 |
| All other segments (5) | 241 | 67 | 265 | 717 | 827 |
| Total | 11,167 | 10,799 | 9,874 | 42,445 | 39,236 |
| Less: Other Unallocable expenditure* | 1,424 | 2,444 | 1,299 | 6,191 | 4,812 |
| Add: Unallocable other income | 1,159 | 974 | 1,190 | 4,157 | 3,600 |
| Less: Finance cost | 105 | 100 | 102 | 416 | 416 |
| Profit before tax and non-controlling interests | 10,797 | 9,229 | 9,663 | 39,995 | 37,608 |
| * | Unallocable expense includes 1,289 crore towards impact
of Labour Codes for the quarter ended December 31, 2025 and year ended March 31, 2026. (Refer note 1(e) above) |
| (1) | Financial Services include enterprises in Financial Services and Insurance |
| (2) | Retail includes enterprises in Retail, Consumer Packaged Goods and Logistics |
| (3) | Communication includes enterprises in Communication, Telecom OEM and Media |
| (4) | Life Sciences includes enterprises in Life sciences and Health care |
| (5) | All other segments include operating segments of businesses in India, Japan, China, Infosys Public Services & identified enterprises in Public Services. |
Notes on segment information
Business segments
Based on the "management approach" as required by Ind-AS 108 - Operating Segments, the Chief Operating Decision Maker evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments.
Segmental capital employed
Assets and liabilities used in the Group's business are not identified to any of the reportable segments, as these are used interchangeably between segments. The Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.
6. Audited financial results of Infosys Limited (Standalone Information)
(in crore)
| Particulars | Quarter ended March 31, |
Quarter ended December 31, |
Quarter ended March 31, |
Year ended March 31, | |
| 2026 | 2025 | 2025 | 2026 | 2025 | |
| Revenue from operations | 38,641 | 37,996 | 34,136 | 148,819 | 136,592 |
| Profit before exceptional item and tax | 9,956 | 10,817 | 9,061 | 39,903 | 35,441 |
| Exceptional item - Impact of Labour Codes | – | 1,146 | – | 1,146 | – |
| Profit before tax | 9,956 | 9,671 | 9,061 | 38,757 | 35,441 |
| Profit for the period | 7,975 | 7,363 | 6,628 | 29,211 | 25,568 |
The audited results of Infosys Limited for the above mentioned periods are available on our website, www.infosys.com and on the stock exchange website www.nseindia.com and www.bseindia.com. The information above has been extracted from the audited interim standalone financial statements as stated.
By order of the Board
| |
|
Bengaluru, India April 23, 2026 |
Salil Parekh Chief Executive Officer and Managing Director |
The Board has also taken on record the consolidated results of Infosys Limited and its subsidiaries for the quarter and year ended March 31, 2026, prepared as per International Financial Reporting Standards (IFRS) and reported in US dollars. A summary of the financial statements is as follows:
(in US$ million, except per equity share data)
| Particulars | Quarter ended March 31, |
Quarter ended December 31, |
Quarter ended March 31, |
Year ended March 31, | |
| 2026 | 2025 | 2025 | 2026 | 2025 | |
| Audited | Audited | Audited | Audited | Audited | |
| Revenues | 5,040 | 5,099 | 4,730 | 20,158 | 19,277 |
| Cost of sales | 3,485 | 3,660 | 3,302 | 14,079 | 13,405 |
| Gross profit | 1,555 | 1,439 | 1,428 | 6,079 | 5,872 |
| Operating expenses | 500 | 502 | 436 | 1,994 | 1,801 |
| Operating profit # | 1,055 | 937 | 992 | 4,085 | 4,071 |
| Other income, net | 125 | 109 | 137 | 468 | 425 |
| Finance cost | 12 | 11 | 12 | 47 | 49 |
| Profit before income taxes | 1,168 | 1,035 | 1,117 | 4,506 | 4,447 |
| Income tax expense | 248 | 287 | 303 | 1,190 | 1,285 |
| Net profit | 920 | 748 | 814 | 3,316 | 3,162 |
| Earnings per equity share* | |||||
| Basic (in $ per share) | 0.23 | 0.18 | 0.20 | 0.81 | 0.76 |
| Diluted (in $ per share) | 0.23 | 0.18 | 0.20 | 0.80 | 0.76 |
| Total assets | 16,446 | 15,953 | 17,419 | 16,446 | 17,419 |
| Cash and cash equivalents and current investments | 3,706 | 2,985 | 4,321 | 3,706 | 4,321 |
| * | EPS is not annualized for the quarter ended March 31, 2026, quarter ended December 31, 2025 and quarter ended March 31, 2025. |
| # | includes $143 million towards impact of Labour Codes for the quarter ended December 31, 2025 and year ended March 31, 2026. (Refer note 1(e) above) |
Certain statements in this release, including those concerning our future growth prospects and our future financial or operating performance, are forward looking statements 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 or outcomes 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 the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations such as artificial intelligence, the complex and evolving regulatory landscape including immigration regulation changes and developments in the US H-1B visa program, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity and capital resources, our corporate actions including acquisitions, cybersecurity matters, the outcome of pending litigation and the US government investigation, and the effect of current and any future tariffs. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2025. These filings are available at 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. 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.