Infosys Limited
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Briefing
Infosys Limited — the brief
Forensic posture: Clean disclosures. Infosys shows a clean auditor opinion with no flags, routine inter-company dealings, and strong earnings quality (89/100); the ₹2,953 Cr in contingent liabilities (3.1% of net worth) is dominated by unacknowledged income tax demands and a U.S. litigation settlement that pose manageable downside.
Auditor’s report (CARO 2020)
Auditor’s assessment Clean. Auditor: Deloitte Haskins & Sells LLP. Opinion: Unqualified. Fiscal year FY24-25.
Related-party transactions
Assessment Routine. 60 related parties disclosed. Fiscal year FY25-25.
Contingent liabilities
Assessment Notable. Total disclosed: ₹2,953 Cr (3.1% of net worth). Fiscal year FY24-25.
- McCamish cybersecurity incident class action settlement
- Income tax demands not acknowledged as debts
Corporate governance
Board of 9 directors, 78% independent. Chair: Nandan M. Nilekani. Chair and CEO roles are separated. Statutory auditor: Deloitte Haskins & Sells LLP. Board remuneration: 384.5% of net profit. Fiscal year FY24-25.
“Purchase of services: Infy Consulting Company Limited 2,075 1,914; Infosys BPM Limited 2,216 2,162”
What retail misses·The ₹2,953 Cr income tax contingent liability sits invisible in most earnings discussions and screener summaries — it's material relative to net worth and outcome-dependent on ongoing appeals across multiple jurisdictions.
Strengths noted in disclosures: Auditor (Deloitte) gave unqualified opinion with zero high, material, or minor flags. · Earnings quality composite of 89/100 with low manipulation risk, cash flow matching profit, and top-decile profitability. · Altman Z-Score of 444.6 places company well into safe zone with low bankruptcy risk.
Forensic signal
From the company's own filingsStrong: Valuation · Yield · Size · Weak: 52-Week