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    Infosys ROIC and Reinvestment

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    sagar Samantara

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    Infosys ROIC and Reinvestment

    Uploaded by

    sagar Samantara
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    Infosys ROIC and Reinvestment

    Uploaded by

    sagar Samantara

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    © All Rights Reserved
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    Infosys Ltd

    Calculation of ROIC
    Particulars Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
    Current Assets
    Trade receivables ₹ 18,487.00 ₹ 19,294.00 ₹ 22,698.00 ₹ 25,424.00 ₹ 30,193.00
    Cash equivalents ₹ 18,649.00 ₹ 24,714.00 ₹ 17,472.00 ₹ 12,173.00 ₹ 14,786.00
    Short Term loans ₹ 239.00 ₹ 159.00 ₹ 248.00 ₹ 289.00 ₹ 248.00
    Other Asset items ₹ 20,890.00 ₹ 22,712.00 ₹ 29,771.00 ₹ 37,719.00 ₹ 38,255.00
    Total Current Assets ₹ 58,265.0 ₹ 66,879.0 ₹ 70,189.0 ₹ 75,605.0 ₹ 83,482.0
    Current Liabilities
    Non Controlling interest ₹ 394.00 ₹ 431.00 ₹ 386.00 ₹ 388.00 ₹ 345.00
    Trade payables ₹ 2,852.00 ₹ 2,645.00 ₹ 4,134.00 ₹ 3,865.00 ₹ 3,956.00
    Advance from Customers - - - - -
    Other liability Items ₹ 18,471.00 ₹ 22,759.00 ₹ 31,385.00 ₹ 36,637.00 ₹ 35,244.00
    Total Current Liabilities ₹ 21,717.0 ₹ 25,835.0 ₹ 35,905.0 ₹ 40,890.0 ₹ 39,545.0
    # Net Working Capital ₹ 36,548.0 ₹ 41,044.0 ₹ 34,284.0 ₹ 34,715.0 ₹ 43,937.0
    Non-Current Assets
    Land ₹ 1,950.00 ₹ 2,036.00 ₹ 2,066.00 ₹ 2,054.00 ₹ 2,037.00
    Building ₹ 15,104.00 ₹ 16,328.00 ₹ 16,760.00 ₹ 16,903.00 ₹ 16,515.00
    Plant Machinery ₹ 3,185.00 ₹ 3,296.00 ₹ 3,210.00 ₹ 3,302.00 ₹ 3,428.00
    Equipments ₹ 1,265.00 ₹ 1,371.00 ₹ 1,427.00 ₹ 1,482.00 ₹ 1,528.00
    Computers ₹ 7,423.00 ₹ 8,650.00 ₹ 9,936.00 ₹ 11,898.00 ₹ 12,353.00
    Furniture n fittings ₹ 2,073.00 ₹ 2,149.00 ₹ 2,278.00 ₹ 2,303.00 ₹ 2,326.00
    Vehicles ₹ 69.00 ₹ 74.00 ₹ 71.00 ₹ 60.00 ₹ 62.00
    Intangible Assets ₹ 5,527.00 ₹ 6,372.00 ₹ 6,495.00 ₹ 7,594.00 ₹ 7,652.00
    Other fixed assets ₹ 2,289.00 ₹ 2,730.00 ₹ 2,766.00 ₹ 3,281.00 ₹ 3,294.00
    Gross Block ₹ 38,885.0 ₹ 43,006.0 ₹ 45,009.0 ₹ 48,877.0 ₹ 49,195.0
    Accumulated Depreciation ₹ (15,096.00) ₹ (17,501.00) ₹ (19,209.00) ₹ (19,652.00) ₹ (21,573.00)
    # Net Non-Current Assets ₹ 23,789.0 ₹ 25,505.0 ₹ 25,800.0 ₹ 29,225.0 ₹ 27,622.0
    # Invested Capital ₹ 60,337.0 ₹ 66,549.0 ₹ 60,084.0 ₹ 63,940.0 ₹ 71,559.0
    EBIT ₹ 19,374.0 ₹ 24,622.0 ₹ 28,015.0 ₹ 30,905.0 ₹ 31,747.0

    # ROIC 32.11% 37.00% 46.63% 48.33% 44.36%

    Calculation of Reinvestment Rate


    Net Capex 3,307 2,107 2,161 2,579 2,201
    Change in Working Capital ₹ 4,496.00 ₹ (6,760.00) ₹ 431.00 ₹ 9,222.00
    EBIT ₹ 19,374.0 ₹ 24,622.0 ₹ 28,015.0 ₹ 30,905.0 ₹ 31,747.0
    Marginal Tax rate 25.00% 25.00% 25.00% 25.00% 25.00%
    EBT ₹ 14,530.50 ₹ 18,466.50 ₹ 21,011.25 ₹ 23,178.75 ₹ 23,810.25

    Reinvestment ₹ 3,307.00 ₹ 6,603.00 ₹ (4,599.00) ₹ 3,010.00 ₹ 11,423.00


    Reinvestment Rate 22.76% 35.76% -21.89% 12.99% 47.98%
    4 Year Average 18.71%
    4 year Median 24.37%

    Calculation of Growth Rate Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

    Reinvestment Rate 22.76% 35.76% -21.89% 12.99% 47.98%


    ROIC 32.11% 37.00% 46.63% 48.33% 44.36%

    Intrinsic Growth 7.31% 13.23% -10.21% 6.28% 21.28%

    4 Year Average 7.65%


    4 year Median 9.75%

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