Infosys logo

Infosys

INFY NSE

Key Fundamentals

LargecapComputer Software & ConsultingInformation Technology
Market Cap
4.2L Cr
Volatility
Moderate
P/E Ratio
13.98
EBITDA
₹46,602 Cr
Return on Equity
31.59%
Debt to Equity
0.1
Book Value
₹212.62
EPS
₹64.2
52W High
₹1,728
52W Low
₹982.4

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Stock is providing a good dividend yield of 4.63%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 30.8%
  • Company has been maintaining a healthy dividend payout of 68.5%
  • Company's working capital requirements have reduced from 42.0 days to 32.7 days

Weaknesses

2
  • Promoter holding has decreased over last quarter: -0.56%
  • Promoter holding is low: 13.8%

Growth Rate

Revenue Growth
9.83% higher than 3Y
Net Income Growth
10.18% higher than 3Y
Cash Flow Change
-4.79% lower than 3Y
ROE
13.59% lower than 3Y
ROCE
8.76% higher than 3Y
EBITDA Margin (Avg.)
-0.93% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Infosys Ltd trades at a market cap of ₹4,21,914 Cr with a PE of 13.8x and a dividend yield of 4.63%. The company has delivered consistent ROE of ~31% over 3 and 5 years with TTM sales growth of 11% and profit growth of 14%, though the stock has declined 31% over the past year.

Bull Case 8
  • Attractive valuation with PE at 13.8x, which is well below the IT sector's historical average multiples, suggesting limited downside from a valuation floor perspective
  • Strong and consistent ROE of 31% over 3 and 5 years, improving to 32% in the last year, indicating efficient capital allocation and high-quality earnings
  • Dividend yield of 4.63% with a healthy payout ratio of 68.5%, providing meaningful income support to shareholders even during periods of stock price weakness
  • TTM revenue growth of 11% and profit growth of 14%, showing acceleration versus the 3-year CAGR of 7% sales and 8% profit growth respectively
  • Working capital days reduced from 42.0 to 32.7 days, reflecting improved cash conversion and operational efficiency in collections
  • Long-term compounded sales CAGR of 11% over 10 years demonstrates durable demand for the company's IT services portfolio across economic cycles
  • Price-to-book ratio of 4.85x is reasonable for a capital-light IT services business generating 31%+ ROE, suggesting the premium is backed by fundamentals
  • Profit growth has outpaced revenue growth on a TTM basis (14% vs 11%), indicating margin expansion and improving operating leverage
Bear Case 8
  • Stock has declined 31% over the past 1 year and delivered a negative 12% CAGR over 3 years, significantly destroying shareholder value in the medium term
  • Promoter holding is low at just 13.8% and has further decreased by 0.56% in the last quarter, raising concerns about alignment of insider interests with minority shareholders
  • The 5-year stock CAGR of -9% contrasts sharply with 12% sales growth and 9% profit growth over the same period, indicating sustained PE de-rating by the market
  • 10-year stock CAGR of only 7% despite consistent double-digit revenue growth of 11% CAGR suggests the market has structurally re-priced the stock lower over time
  • Compounded profit growth of 8% over 10 years has lagged revenue growth of 11% over the same period, pointing to long-term margin pressures in the IT services business
  • 52-week high and low data are unavailable, limiting visibility into recent trading range and potential technical support or resistance levels
  • Debt-to-equity and EPS data are not reported, reducing transparency on the company's leverage position and per-share earnings trajectory
  • 3-year profit CAGR of only 8% despite the post-pandemic digital spending boom suggests Infosys may have underperformed the broader IT demand environment relative to expectations

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 6
  • 6-day losing streak, ₹40K cr lost Sep 9

    Infosys shares fell 4.8% to ₹1,029.5 on Sep 9, losing ₹40,000 crore in market cap over six consecutive sessions with an 11% decline. Stock is down 37% YTD and is the worst performer on the Nifty IT index with an 8.4% weekly drop.

  • Q1 net profit drops 9% QoQ Sep 9

    Infosys reported Q1 FY27 consolidated net profit of ₹7,769 crore, down ~9% QoQ from ₹8,501 crore in Q4 FY26. The company also cut the upper end of its annual revenue guidance to 1.5-3% from 1.5-3.5% in constant currency terms.

  • US macro risks weigh on IT Sep 9

    Stronger US payrolls data raised Fed rate hike expectations, threatening IT spending cuts by US clients. Brent crude near $100 amid US-Iran tensions and FII selling are additional headwinds impacting the broader IT sector.

  • Variable pay held at 70% Aug 25

    Infosys maintained average variable pay at 70% for Q4 FY26 and Q1 FY27, down 10 percentage points from 80% a year earlier, reflecting revenue pressure and margin protection needs.

  • Sustained downtrend, ₹1,200 resistance Aug 18

    Shares fell over 6% in five sessions ending Aug 18. Analysts warn the stock has been in a broader downtrend for over a year, with ₹1,200 as key resistance and ₹1,000 as critical support.

  • AI deflation in traditional services Aug 25

    AI is causing 2-3% annual deflation in traditional IT services revenues. JPMorgan flagged rising competitive intensity in vendor-consolidation deals and noted AI-led growth acceleration remains uncertain.

Positives 6
  • AI revenue share grows to 8.2% Aug 31

    Infosys AI services contribution rose from 5.5% of topline in Q3 FY26 to 8.2% in Q1 FY27. CFO highlighted AI services opportunities could reach $300-400 billion by 2030.

  • Knorr-Bremse AI partnership signed Aug 18

    Infosys entered a strategic long-term partnership with Germany's Knorr-Bremse AG for AI-enabled enterprise IT transformation using Infosys Topaz across global Rail and Commercial Vehicle divisions.

  • Nomura buy rating, ₹1,290 target Aug 31

    Nomura maintains a buy rating with a target price of ₹1,290, implying 12.7% upside. Consensus across 49 analysts shows a target of ₹1,201.18 with 29 buy ratings and 16% return potential.

  • Everest Group Leader recognition Aug 19

    Infosys Aster was named a Leader in Everest Group's Marketing Transformation Services PEAK Matrix 2026 for AI-first capabilities and Adobe-led transformation across 29 evaluated providers.

  • Annual revenue up 9.6% YoY Aug 18

    FY26 annual consolidated revenue grew 9.6% YoY to ₹178,650 crore and net profit rose 10.2% to ₹29,474 crore. EBIT margin improved slightly to 21.08% in Q1 FY27.

  • ₹31 crore Foundation grant Sep 9

    Infosys Foundation announced a ₹31 crore grant to Madras Medical College on Sep 9 to establish cardio-obstetric care facilities at Rajiv Gandhi Government General Hospital in Chennai.

Neutral 5
  • Infosys Public Services CEO missing Aug 29

    Infosys Public Services CEO Lax Gopisetty remains unreachable after Nepal flash floods that killed 626 people. Infosys is working with agencies to establish contact.

  • New SURE segment head appointed Aug 24

    Mitrankur Majumdar appointed as Segment Head for Services, Utilities, Resources and Energy, supporting outgoing head Ashiss Kumar Dash's transition to CEO designate.

  • AI ROI gap flagged in report Aug 25

    Infosys research reveals 25% of executives see AI ROI below expectations, with key barriers including scaling pilots and measuring non-revenue impacts like efficiency.

  • Investor roadshows scheduled Sep 1

    Infosys management including CFO Jayesh Sanghrajka will participate in J.P. Morgan, UBS, and Bank of America investor events and global non-deal roadshows across multiple cities through September 2026.

  • Salary hikes planned Oct and Jan Aug 25

    Infosys confirmed 5-8% salary hikes in two phases: JL4-JL5 employees in October 2026 and JL6+ in January 2027, adding compensation headwinds in H2 FY27.

TL;DR: Infosys is under significant near-term pressure with a 37% YTD decline, a 9% QoQ profit drop, and macro headwinds from potential US rate hikes and geopolitical tensions driving broad IT sector weakness. On the positive side, AI revenue contribution is growing rapidly (5.5% to 8.2% in two quarters), new strategic deals like Knorr-Bremse are expanding the pipeline, and annual fundamentals remain solid with 9.6% revenue growth. The ₹1,000 support level is critical — a breach could accelerate the downtrend, while a recovery above ₹1,200 with volume would signal stabilization.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
37,933
38,994
38,821
37,923
39,315
40,986
41,764
40,925
42,279
44,490
45,479
46,402
48,211
Expenses
28,869
29,554
29,684
29,139
29,878
31,177
31,649
31,051
32,336
33,955
34,845
35,235
36,802
Operating Profit
9,064
9,440
9,137
8,784
9,437
9,809
10,115
9,874
9,943
10,535
10,634
11,167
11,409
OPM %
24%
24%
24%
23%
24%
24%
24%
24%
24%
24%
23%
24%
24%
Other Income
561
632
789
2,729
838
712
859
1,190
1,042
982
-150
1,159
984
Interest
90
138
131
110
105
108
101
102
105
106
100
105
119
Depreciation
1,173
1,166
1,176
1,163
1,149
1,160
1,203
1,299
1,140
1,182
1,155
1,424
1,246
PBT
8,362
8,768
8,619
10,240
9,021
9,253
9,670
9,663
9,740
10,229
9,229
10,797
11,028
Tax %
29%
29%
29%
22%
29%
30%
29%
27%
29%
28%
28%
21%
30%
Net Profit
5,945
6,215
6,113
7,975
6,374
6,516
6,822
7,038
6,924
7,375
6,666
8,509
7,775
EPS in Rs
14.32
14.97
14.71
19.2
15.34
15.67
16.39
16.93
16.66
17.73
16.41
20.96
19.15
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
53,319
62,441
68,484
70,522
82,675
90,791
1,00,472
1,21,641
1,46,767
1,53,670
1,62,990
1,78,650
1,84,582
Expenses
38,436
45,362
49,880
51,700
62,505
68,524
72,583
90,150
1,11,637
1,17,245
1,23,754
1,36,370
1,40,837
Operating Profit
14,883
17,079
18,604
18,822
20,170
22,267
27,889
31,491
35,130
36,425
39,236
42,280
43,745
OPM %
28%
27%
27%
27%
24%
25%
28%
26%
24%
24%
24%
24%
24%
Other Income
3,430
3,120
3,050
3,311
2,882
2,803
2,201
2,295
2,701
4,711
3,600
3,033
2,975
Interest
12
0
0
0
0
170
195
200
284
470
416
416
430
Depreciation
1,017
1,459
1,703
1,863
2,011
2,893
3,267
3,476
4,225
4,678
4,812
4,902
5,007
PBT
17,284
18,740
19,951
20,270
21,041
22,007
26,628
30,110
33,322
35,988
37,608
39,995
41,283
Tax %
28%
28%
28%
21%
27%
24%
27%
26%
28%
27%
29%
26%
—
Net Profit
12,372
13,489
14,353
16,029
15,410
16,639
19,423
22,146
24,108
26,248
26,750
29,474
30,325
EPS in Rs
26.93
29.36
31.24
36.69
35.26
38.96
45.42
52.56
58.08
63.2
64.32
72.59
74.25
Div. Payout %
55%
41%
41%
59%
60%
45%
59%
59%
58%
73%
67%
66%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
572
1,144
1,144
1,088
2,170
2,122
2,124
2,098
2,069
2,071
2,073
2,024
Reserves
50,164
60,600
67,838
63,835
62,778
63,328
74,227
73,252
73,338
86,045
93,745
90,828
Borrowings
0
0
0
0
0
4,633
5,325
5,474
8,299
8,359
8,227
9,176
Other Liabilities
15,553
13,354
14,166
14,426
19,118
21,717
25,835
35,905
40,890
39,545
43,750
52,260
Total Liabilities
66,289
75,098
83,148
79,349
84,066
91,800
1,07,511
1,16,729
1,24,596
1,36,020
1,47,795
1,54,288
Fixed Assets
11,346
13,386
14,179
12,574
15,710
23,789
25,505
25,800
29,225
27,622
30,961
33,770
CWIP
776
960
1,365
1,606
1,388
954
922
416
288
293
814
526
Investments
2,270
1,892
16,423
12,163
11,261
8,792
14,205
20,324
19,478
24,623
23,541
21,880
Other Assets
51,897
58,860
51,181
53,006
55,707
58,265
66,879
70,189
75,605
83,482
92,479
98,112
Total Assets
66,289
75,098
83,148
79,349
84,066
91,800
1,07,511
1,16,729
1,24,596
1,36,020
1,47,795
1,54,288
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
8,353
10,028
11,531
13,218
14,841
17,003
23,224
23,885
22,467
25,210
35,694
33,986
Investing
999
-885
-14,664
4,533
-632
-331
-7,373
-6,485
-1,071
-5,093
-1,864
3,546
Financing
-4,935
-6,813
-6,939
-20,505
-14,512
-17,591
-9,786
-24,642
-26,695
-17,504
-24,161
-39,786
Net Cash Flow
4,417
2,330
-10,072
-2,754
-303
-919
6,065
-7,242
-5,299
2,613
9,669
-2,254
Free Cash Flow
6,106
7,305
8,771
11,220
12,396
13,696
21,117
21,724
19,888
23,009
33,457
31,259
CFO/OP
101
93
92
107
107
97
106
100
89
95
105
101
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
66
66
66
68
65
74
70
68
63
72
70
72
Cash Conversion Cycle
66
66
66
68
65
74
70
68
63
72
70
72
Working Capital Days
3
34
38
50
36
42
36
28
31
54
39
33
ROCE %
36%
33%
30%
30%
32%
32%
35%
37%
40%
40%
38%
40%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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65 extracted metrics + investor summaries across FY05–FY27.

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Shareholding Pattern

Others3.11%Govt.0.20%DIIs42.78%Public13.00%Promot.13.82%FIIs27.09%As ofJun 2026

Documents

Frequently Asked Questions about Infosys

What does Infosys Ltd do?
Infosys Ltd provides consulting, technology, outsourcing and next-generation digital services to enable clients to execute strategies for their digital transformation.[1] It is the 2nd largest Information Technology company in India behind TCS.[2]
Where is Infosys Ltd (INFY) listed?
Infosys Ltd trades as INFY on the NSE and under code 500209 on the BSE.
Which sector does Infosys Ltd belong to?
Infosys Ltd is classified under the Information Technology sector, in the Computer Software & Consulting industry.
What is the market capitalisation of Infosys Ltd?
Infosys Ltd has a market capitalisation of ₹4,21,914 Cr, which places it in the Large Cap band.
What is the PE ratio of Infosys Ltd?
Infosys Ltd trades at a PE ratio of 13.98, on earnings per share of ₹64.2, against a book value of ₹212.62 per share.
What is the 52-week high and low of Infosys Ltd?
Over the last 52 weeks Infosys Ltd has traded between ₹982.4 and ₹1,728.
Does Infosys Ltd pay dividends?
Infosys Ltd has a dividend yield of 4.63%.
What is the Return on Equity (ROE) of Infosys Ltd?
Infosys Ltd reported a return on equity of 31.59%. Its debt-to-equity ratio is 0.10.

Company Information

Infosys Ltd provides consulting, technology, outsourcing and next-generation digital services to enable clients to execute strategies for their digital transformation.[1] It is the 2nd largest Information Technology company in India behind TCS.[2]

Website infosys.com
CEO Mr. Nandan M. Nilekani
Employees 3,37,034
Listed 1993-06-14
Face Value ₹ 5
Issued Size 4,05,46,67,899

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