Infosys Limited Due Diligence

Run due diligence on Infosys Limited: check compliance and get alerts when suppliers change.

India · www.infosys.com · 24 vendors

Infosys Limited is an Indian multinational technology company that provides business consulting, information technology, and outsourcing services. It enables clients in over 50 countries to navigate their digital transformation journeys through services like application development, cloud, data analytics, and AI-powered solutions.

Resilience scores

Technology vendors

Services catalogue

4 services in catalogue across 2 categories; runs on 24 sub-vendors.

Insights

Last updated 2026-09-13 · revision 2

24 direct vendors, 231 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

13 in-scope frameworks identified; showing 3.

Modern Slavery Act — Evidence found

Evidence: https://www.infosys.com/investors/corporate-governance/documents/statement-under-modern-slavery-act.pdf, https://www.infosys.com/australia.html

SOX — Evidence found

Evidence: https://www.infosys.com/investors.html, https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=INFY&type=20-F&dateb=&owner=include&count=10, https://www.infosys.com/investors/reports-filings/annual-report/annual/documents/infosys-ar-26.pdf

Brazil LGPD — Evidence found

Evidence: https://www.infosys.com/privacy-statement/brazil.html, https://www.infosys.com/br/

Financials

Three-year financials

Financial Resilience Score: 9/10

Infosys demonstrates exceptional financial resilience underpinned by a net-cash balance sheet with negligible interest-bearing debt outside of IFRS-16 lease liabilities. The company maintains cash and investments exceeding ₹40,000 crore as of FY2025, providing substantial liquidity to absorb macroeconomic shocks. Operating margins have remained consistently within the guided 20-22% band despite wage inflation, subcontractor costs, and pricing pressures, reflecting disciplined cost management and operational flexibility. The company generates strong operating cash flow (₹22,000-27,000 crore annually) with cash conversion exceeding 85-100% of net income, enabling both reinvestment and substantial capital returns to shareholders. Its capital return policy targets ~85% of free cash flow over 5 years via dividends and buybacks, with multiple large buybacks executed since 2017. The diversified revenue base across geographies, verticals, and multi-year contractual services (often 5-10 year contracts) provides annuity-style revenue visibility. Infosys navigated COVID-19 with margin expansion rather than contraction, demonstrating counter-cyclical resilience. Low single-client concentration (no client >3-4% of revenue, top 10 clients ~19-20%) further reduces vulnerability. However, cyclical exposure to enterprise IT spending, particularly BFSI (~28% of revenue) and North America (~58-60%), along with FX exposure and wage inflation in India, represent ongoing headwinds that prevent a perfect score.

Key strengths: Net-cash balance sheet with negligible interest-bearing debt, Cash and investments exceeding ₹40,000 crore in FY2025, Operating margins consistently within 20-22% guided band, Strong operating cash flow with 85-100% cash conversion, Diversified across geographies, verticals, and services, Long-term contractual/annuity-style revenues (5-10 year contracts), Low single-client concentration (no client >3-4% of revenue), Demonstrated resilience during COVID-19 with margin expansion, Disciplined capital return policy (~85% of FCF over 5 years)

Risk factors: Cyclical exposure to enterprise IT spending in U.S. and Europe, Significant BFSI vertical exposure (~28% of revenue), FX exposure with USD/EUR/GBP revenues vs INR costs, Wage inflation in India and talent competition from GCCs, Rising U.S. immigration/visa scrutiny increasing on-site costs, Softening discretionary spend amid macro uncertainty, AI-related pricing compression in contract renewals, North America concentration (~58-60% of revenue)

Revenue by geography

Revenue by product/service

Workforce by country

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