This program allows us to effectively deploy our un—utilized resources into internal projects. First, chartists can look for overbought or oversold levels to warn of unsustainable price extremes. A bullish divergence forms when prices move to a lower low, but the indicator forms a higher low to show improving money flow or momentum. Vishal Sikka on June 22, was modified by the nomination and remuneration committee on April 14,
Announcement under Regulation 30 (LODR)-Newspaper Publication
As on March 31, , we have 16 direct subsidiaries, 30 step—down subsidiaries and one associate. In accordance with Section 3 of the Companies Act, , we have prepared consolidated financial statements of the Company, which forms part of this Annual Report.
The statement also provides the details of performance and financial positions of each of the subsidiaries. In accordance with Section of the Companies Act, , the audited financial statements, including the consolidated financial statements and related information of the Company and audited accounts of each of its subsidiaries, are available on our website, www. These documents will also be available for inspection during business hours at our registered office in Bangalore, India During the year, investments were made in the following subsidiary and new acquisitions: Post the requisite approval from shareholders through postal ballot on June 4, , a Business Transfer Agreement and other related documents were executed with EdgeVerve to transfer the business with effect from August 1, The Company has undertaken an enterprise valuation by an independent valuer and accordingly the businesses were transferred for a consideration of Rs.
The consideration was settled through the issue of 85,00,00, equity shares amounting to Rs. The transfer of assets and liabilities was accounted for at carrying values and did not have any impact on the consolidated financial statements.
The payment of contingent consideration to the sellers of Noah was dependant upon the achievement of certain financial targets by Noah for the years ended December 31, and December 31, During the year ended March 31, , based on the assessment of Noah achieving the targets for the respective periods, the entire contingent consideration was reversed. Products EdgeVerve Systems Limited, a wholly—owned subsidiary of Infosys, develops innovative software products and offers them on premise and on the cloud.
Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world.
Today, EdgeVerve products and platforms are used by global corporations across industries such as financial services, insurance, retail and CPG, life sciences, manufacturing, and telecom. Our IIP helps enterprises embark on their Big Data journey by providing a compelling price—performance ratio in data processing while also enabling them to take advantage of innovations happening in the open source community.
IIP is based on an assembly of tested open source components and offers rapid deployment as a base for a broad variety of industry—specific scenarios. IAP helps ensure business outcomes by monitoring and analyzing in near real—time, the health of all layers of IT systems including business processes, applications and infrastructure leveraging stream processing and Big Data technologies. IAP aims to predict issues using knowledge models, machine learning algorithms and predictive analytics and prevent business disruptions through proactive interventions.
IAP automates repetitive tasks in IT operations and leverages advanced capabilities like natural language processing and artificial intelligence. Panaya, an Infosys company, is a leader in ERP change analytics and cloud—based enterprise software testing.
It is constantly improving and finding smarter ways to perform everything from day—to—day maintenance to major projects. Skava Skava, an Infosys company, powers the next generation of digital transformation for leading retailers worldwide by delivering the most versatile technology platform in the industry. Skava enables digital shopping experiences for global brands across mobile, tablet, desktop, in—store, and all emerging channels.
Through this program, over 25, employees have been trained on key Open source technologies; 12 key communities of practices, including BigData and DevOps, have been setup; new and existing partners are engaged for enablement, joint solutions and go—to—market. Over key contributors have been contributing to forums like Spark, Selenium, Jenkins etc.
Quality We continue our journey of delivering value to our clients through significant investments in quality programs. While sustaining existing external benchmarks and certifications, we have added new certifications and further enhanced our programs and initiatives to renew our commitment to the culture of quality, client value, innovation and productivity improvement. We also get assessed at CMMi Level 5. Our Quality department handles large change management initiatives to drive quality and productivity improvements across the Company, using various techniques such as Six Sigma, Lean methodology, and engineering levers like Reuse, Automation and Tools.
Our Quality department partners with business units to help implement and sustain the Zero Distance program, an initiative to infuse grassroots innovation across all our projects, and effectively measure benefits to the client, and ensure substantial client impact. We continue to fine—tune our Client Value Survey to capture the voice of our customers, and to assess client expectations as an ongoing process.
The data that is collected is analyzed around satisfaction, advocacy, loyalty, fulfillment and value for money, and helps us draw action plans to improve client experience. Branding The Infosys brand is a key intangible asset of the Company. It positions Infosys as the next—generation services company that would help enterprises renew themselves while also creating new avenues to generate value. Brand Infosys is being built around the premise that software, in a very fundamental way, is reshaping the world around us.
And because of this, there is a duality that every business faces — on the one hand, the need to renew existing systems, to improve their effectiveness with new technologies and innovation, and on the other hand, the need to deliver completely new kinds of services and new solutions in new ways using next—generation technologies. Infosys helps its clients achieve this dual agenda in a culture of learning and innovation at the grassroots level.
The way Infosys connects with its clients, builds out great ideas and creates value from innovations is called Zero Distance — describing its approach to operating at the intersection of desirability, feasibility and viability. Our marketing reach extends globally through advertisements, public relations and digital marketing initiatives.
We participate in premier business and industry events around the world. We also organize signature events and roundtables across geographies. Awards and recognition In fiscal , we were conferred multiple awards and recognition, both international and national.
The major ones among them are listed as follows: Omnichannel Banking Solutions, Q3 report. For the complete list of awards and recognition won by Infosys, refer to https: Human resources management We have set up a scalable recruitment and human resources management process. Over the last year, on a standalone basis, we received 11,15, applications from prospective employees. The Infosys Group added 17, net and 52, gross employees this year, taking the total strength to 1,94, from 1,76, at the end of the previous year.
On a standalone basis, the attrition rate for fiscal stands at Human resources management at Infosys goes beyond the set boundaries of compensation, performance reviews and development. With this in mind, we initiated several positive changes in our HR practice this year. A large part of our focus in fiscal was on listening to employee feedback to make the right changes. Zero Distance, a movement to bring innovation to every project at Infosys, facilitated by a five—point framework of innovation was an example of employee engagement built through ground—up involvement in organizational growth and strategy.
Through the year, we gathered feedback from employees across all our communication channels and platforms, including our annual employee engagement survey LITMUS We also worked on an exercise to identify influencer groups within the organization, whose networks could be leveraged to spread ideas of innovation and collaboration. To ensure that employees are able to be their productive best, we worked on simplifying internal processes through a collaborative effort with various teams.
Rewards and recognition in terms of the annual awards for excellence, quarterly promotions, and unit awards continued. As part of the focus on human resources development during fiscal , we introduced iCount, the renewed performance management system. We moved away from the bell curve, to focus on individual employee contribution and continuous feedback, and built a self—serviced platform to empower employees to design their own journey within the organization.
To foster a positive workplace environment, free from harassment of any nature, we have institutionalized the Anti—Sexual Harassment Initiative ASHI framework, through which we address complaints of sexual harassment at the workplace.
Our global policy assures discretion and guarantees non—retaliation to complainants. We follow a gender—neutral approach in handling complaints of sexual harassment and we are compliant with the law of the land wherever we operate. The details of issues raised and resolved regarding sexual harassment of women at the workplace are available in the Enhancing employee value section in the Business Responsibility Report which forms part of this Annual Report.
Talent fulfillment We continue to improve our talent supply chain processes to maintain a consistent high utilization throughout the year and effectively support our higher growth. Our employees can now leverage our training infrastructure to upgrade their skills during their bench period and also work on short, internal projects of their choice, to gain exposure, hone their skills, extend networks, while delivering value. To foster a culture of innovation and rapid problem—solving using technology, we launched the second season of the Infosys Global Hackathon.
During this fiscal, we also launched Compass, a digital platform to mobilize opportunities in careers, learning and networks within the organization. Education, training and assessment Learning and education are at the foundation of Infosys. Competency development continues to be a key area of strategic focus for us. During fiscal , the total training provided for Infoscions was over 2.
Many of our employees also took external certifications, creating a large pool of certified people. To enhance the innovation quotient among the workforce, we conducted the Design Thinking program, which trains individuals in an empathetic, customer—centric mode of problem—finding and problem—solving. The total number of participants benefiting from the Design Thinking training crossed 80, as of March 31, The Design Thinking training has been imparted to client teams, leadership teams, Infoscions and fresh recruits.
Our industry—academia partnership program, Campus Connect, made progress through the launch of electives to help engineering colleges run new programs within their curricula. During fiscal , we engaged with 1, faculty members who in turn trained 40, students. With this, the total number of beneficiaries covered has reached 13, faculty members and 3,71, students from engineering institutions. Infosys Leadership Institute The vision of the Infosys Leadership Institute ILI is to be recognized as a globally respected institution that is committed to developing leaders within Infosys.
The primary purpose of the institute is to develop and prepare senior leaders of the organization for current and future executive leadership roles.
A statement containing the names of every employee posted in India throughout the financial year and in receipt of a remuneration of Rs. The details of employees posted outside India can be made available on request. The purpose of the Plan is to: Subject to applicable law and conditions for exercise, eligible employees are entitled to receive equity shares, American Depositary Receipts ADRs or cash on exercise of the Stock Incentives.
The Stock Incentives vest over a period of four years from the date of the grant, or such other period as decided in the sole discretion by the Administrator. Each Stock Incentive shall be evidenced by an award agreement that will specify such terms and conditions as the Administrator will determine, including whether the eligible employees will get equity shares of the Company, ADRs of the Company or cash on exercise of the Stock Incentives.
Consequently, an additional 1,28,15, equity shares, amounting to 0. We expect the pool of 2,40,38, shares to be granted over a period of four to seven years. To calculate the employee compensation cost, the Company uses the Fair Value Method for the valuation of the Stock Incentives granted.
The exercise price for the restricted stock units will be equal to the par value of the shares and the exercise price of stock options would be market price as on the date of the grant. The mix of RSUs, options or other equity rights under the Plan may be adjusted in the sole determination of the Administrator from time to time.
In June , the Company, based on the recommendation of the nomination and remuneration committee, made a grant of 1,24, RSUs to Dr. The grant price was Rs. Further, the award granted to Dr. Vishal Sikka on June 22, was modified by the nomination and remuneration committee on April 14, There is no modification or change in the total number of RSUs granted or the vesting period which is four years.
The modifications relate to the criteria of vesting for each of the years. Based on the modification, the first tranche of the RSUs will vest subject to achievement of certain key performance indicators for the year ended March 31, During fiscal , Dr.
Vishal Sikka exercised 10, options and held 2,21, options outstanding as on March 31, Corporate governance Our corporate governance philosophy Corporate governance is about maximizing shareholder value legally, ethically and sustainably.
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