印孚瑟斯Infosys Ltd. (INFY) 2001年年度報告「NYSE」.pdf

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1、1Infosys Technology at workThe future depends on what we do in the present.Mahatma Gandhi(1869 1948)History is replete with instances of technological breakthroughs that haveforever altered the course of humanity.The digital revolution has broughtabout unprecedented improvements in the price-perform

2、ance equation forboth information storage and processing power.The explosion of the Internethas revolutionized information availability and exchange,and has also spurredextraordinary innovations in business processes and commerce.Today,physical boundaries are becoming increasingly irrelevant and inf

3、ormationtechnology is a boardroom imperative in corporations across the globe.Enhanced communication capabilities,ubiquitous information access,andreal-time decision-making have contributed immensely to the rise oforganizations that transcend national boundaries.We,at Infosys,believe thattechnologic

4、al developments in the areas of enterprise solutions,embeddedsoftware,optical networking and convergence will continue to radicallyimpact every one of us.These developments will spur new ways of doingbusiness,help companies increase their focus on consumer needs,andfacilitate innovations in the form

5、 of hi-tech products and services.This year,we bring you a collection of some of our projects that showcase the impactof leading-edge technologies on business.2ContentsThe year at a glance3Awards for excellence 2000-20014Letter to the shareholders9Infosys Technology at work11Directors report21Risk m

6、anagement38Corporate governance44Audit committee charter54Report of the committees of the board56Auditors report58Financial statements prepared in accordance withIndian Generally Accepted Accounting Principles(Indian GAAP)Balance sheet60Profit and loss account61Schedules62Managements discussion and

7、analysis of financial condition and results of operations79Statement of cash flows94Balance sheet abstract and companys general business profile96Financial statements prepared in accordance withUnited States Generally Accepted Accounting Principles(US GAAP)97Summary of consolidated financial data98M

8、anagements discussion and analysis of financial condition and results of operations99Report of management111Independent auditors report112Balance sheets113Statements of income114Statements of stockholders equity and comprehensive income115Statements of cash flows117Notes to financial statements118In

9、formation in Form 20-F of United States Securities and Exchange Commission132Shareholder information170Frequently asked questions176Additional information to shareholdersShare performance chart180Intangible assets scoresheet181Human resources accounting and value-added statement184Brand valuation186

10、Balance sheet(including intangible assets)188Current cost adjusted financial statements189Economic value-added(EVA)statement191Ratio analysis192Statutory obligations195Management structure197A historical perspective198Infosys Foundation200Financial statements prepared in substantial compliance with2

11、01GAAP requirements of Australia,Canada,France,Germany,Japanand the United Kingdom and reports of compliance with respectivecorporate governance standardsYantra Corporation220Annual General Meeting(AGM)notice3The year at a glancein Rs.crore,except per share dataMarch 31,2001March 31,2000Growth%For t

12、he yearTotal revenues1,959.94921.46113Export revenues1,874.03869.70115Operating profit(PBIDT)808.92378.88114Profit after tax(PAT)from ordinary activities623.32285.95118Profit after tax and extraordinary items628.81293.52114PBIDT as a percentage of total revenues41.27%41.12%PAT from ordinary activiti

13、esas a percentage of total revenues31.80%31.03%Earnings per share(from ordinary activities)Basic94.2343.23118Diluted93.9343.22117Dividend per share 10.004.50122Dividend amount66.1629.76122Capital investment463.35159.87190PAT as a percentage of average net worth56.08%40.63%At the end of the yearTotal

14、 assets1,389.64833.3067Fixed assets net557.66207.34169Cash and cash equivalents577.74508.3714Working capital797.86612.1330Total debtNet worth1,389.64833.3067Equity33.0833.08Market capitalization26,926.3559,338.17(55)Market capitalization is calculated by considering the share price at the National S

15、tock Exchange onMarch 31 of the respective years on the shares outstanding as at that date.4“If a man does his best,what else is there?”General George S.Patton(1885 1945)Our people work hard designing,developing and implementing high-quality solutions for our clients.Theirfocus on customer satisfact

16、ion is evident in the high repeat business we continue to secure.Further,internalfunctions play a critical role both in managing the challenges of growth and in supporting the line functions.Onthe job,Infoscions maintain an unwavering eye on creating value for the various stakeholders of the company

17、,while demonstrating energy,fairness and professionalism in all transactions.As Infosys grows to nearly 10,000 people,the process of identifying high-performers,who made valuablecontributions to Infosys during the year,emerged as a tough and challenging task.A task made even moredifficult by the num

18、ber of high achievers we came across in the different departments in our organization eachone motivated by the vision that we have set ourselves;to be a globally respected software corporation providingbest-in-class business solutions,employing best-of-breed professionals.The people finally selected

19、 are those who qualified on a variety of factors that impacted their external and internalcustomers in a positive manner,thus leading to substantial benefits to Infosys.These factors include:deliveringin challenging circumstances;reacting nimbly to change;rapidly assimilating new knowledge and using

20、 it in new,unstructured situations;making significant contributions to the knowledge base of the organization;successfullyleading and motivating team members by setting an example;and adhering to the highest norms of values andpersonal integrity.We are proud to announce the winners of this years Awa

21、rds for excellence.Awards for excellence5Awards for excellence2000-2001 Communication&Product ServicesPractice Unit managementRajiv KuchhalHariharan S.MurthyParameswar Y.Ravi Kumar Shelvankar Goldman SachsAccount managementNaresh DMelloSatish H.C.Jagadish B.R.Sandeep SehgalSajan Verghis MathewSridha

22、r G.Sobha Meera P.R.Sriram P.Joydeep MukherjeeVasudevan V.R.New York Life InternationalProject managementRavi R.AnandChandra Shekhar MattaBabu S.K.Muthusubramanian B.Poornima HarekrishnaPeethamber V.T.Ritesh KhannaSrinath P.Manoj O.ToshibaProject managementChandra Shekar KakalIndranil MukherjeeRajes

23、h Rao A.Sriram V.6Awards for excellence2000-2001 InfrastructureCreationVijay Kumar C.MaintenanceBinod H.R.Ramadas Kamath U.Col.Krishna C.V.EveryD.comProject managementShveta AroraNavin KumarAmit Deshpande V.Rohit MehraSudhir Subramanya HollaGeorge VargheseVaishali V.KhandekarGhanashyam Wagle Educati

24、on&Research TeamScalability&enablinggrowthVivekanand P.KochikarSubrahmanya S.V.Suresh J.K.HRD TeamScalability&enablinggrowthGagan BhargavaEshan JoshiKarthikeya N.SarmaSreekanth Shenoy P.George Thomas GlobalizationInitiativesScalability&enablinggrowthKrishnan S.Sunil Kumar D.Nithyanandan R.Jayesh D.S

25、anghrajkaChaitanya G.Santosh Thangavelu7Awards for excellence2000-2001 New DC SetupsInfrastructureDinesh S.Madhuranath K.V.Ganapathy P.R.Natarajan S.Dass GunalanVijayeendra S.PurohitCharles Henry HawkesKoushik R.N.InformationSystems TeamSystems&processesDeepak BhallaNitin GuptaNarendra Murari S.Rame

26、sh G.Sivashankar J.IMCRamkrishna BajajTeamSystems&processesNirmalya BaruaJude FernandezMeera Govind R.Naresh T.RaisinghaniSukumar S.VisasixersSystems&processesArdhendu Sekhar DasKhutaija RahmanGanesh G.Ramesh S.Aparna GoenkaHema RavichandarMurali S.Kakolu8Awards for excellence2000-2001 Internal Cust

27、omer Delight ChampionsBalaji V.Rashmita ParijaPadmanabha Bhat P.Prathviraj K.K.Abhilash Kumar Y.Shankar D.P.MuthannaJoseph Thomas A.Banking Business Unit Management TeamGreat take offAmit Kumar BhadraGirish G.VaidyaMerwin FernandesRivi VargheseJaymalya PalitVinay C.S.Rangarajan P.Value Systems Champ

28、ionsBhaskar GhoshVinayak Pai V.Nandita Mohan GurjarPriti Jay RaoNarendran KoduvattatSuma SubramanianMohan M.M.9Letter to the shareholdersDear shareholders:We are delighted to report on our performance in fiscal 2001.Under Indian GAAP,revenues grew by 113%over FY2000while net profits from ordinary ac

29、tivities witnessed an increase of 118%.As transformation partners to Fortune 500 andother established corporations,we continued to focus on building long-term relationships,reflected in our repeat businessrate of 85%.We added 4,442 employees,net of separations,and signed up 122 new clients during th

30、e year.Recent months have witnessed unprecedented turbulence in the technology sector in the US,which in turn has contributedto a slowdown in the overall economy.Technology sector valuations have dropped;revenue shortfalls,profit warnings andlayoffs have become commonplace;most dot-coms are on the w

31、ay to accelerated oblivion;and the urgency for largecorporations to adopt new initiatives has declined.IT budgets are now subject to careful consideration.Companies now seek to maximize the return on their IT investmentsand therefore focus on short-gestation projects that promise predictable,substan

32、tial payoffs.As the me-too approach tonew technology experimentation fades out,CIOs increasingly focus on consolidation,integration and convergenceimperatives,rather than on radical advances in technology infrastructure.There is an unmistakable shift towards value-for-money and,as a result,towards l

33、onger decision-making cycle times.Clearly,these are challenging times for an IT services company.As self-preservation and prudence descend on US industry,the near-term demand outlook for IT services is not as rosy as in the boom years.The immediate future is thereforeuncertain which is the key reaso

34、n for our FY2002 estimates of 30%growth in revenues over the year.Our estimates are based on our current understanding of the marketplace.We continue to be in close contact with ourclients and have factored in our growth expectations from both existing and new clients.We believe that increasing bill

35、ingrates will be a challenge in the current environment and expect the majority of our FY2002 growth to come from increasingbusiness volumes.Nevertheless,we continue to be fully prepared to tap into additional business opportunities that may arise and intend tohave all the ingredients of growth in p

36、lace infrastructure,people,processes and systems.Consequently,we anticipate$80 million in capital expenditure,and intend to add between 1,500 and 2,000 people to our workforce during FY2002.Indeed,it is during times like these that industries undergo profound transformations.The IT services sector h

37、as begun towitness an unprecedented flight to quality.Customers,investors and employees will gravitate towards companies that havecommitted high-quality management teams,deep client relationships,an impeccable track record of customer satisfaction,a de-risked business model,high financial discipline

38、,a strong value system and,above all,the ability to manage change.Our medium-term outlook for IT services continues to be positive.We believe that large corporations are still in the earlystages of their e-business build-out and will face huge integration and enhancement imperatives with their exist

39、ing systems.Further,despite the current venture funding environment,we believe that select high-quality ventures will continue topush the technology envelope and will need strong IT partnerships to achieve their vision.Further,we strongly believe that,at the end of the ongoing turbulence,India will

40、emerge stronger than ever as a preferreddestination for IT outsourcing.With many US-based IT services players facing extinction,with value-for-money emergingas a key CIO imperative,and with the increasing recognition of the quality of its talent,India is all set to consolidate itsposition as a major

41、 force on the global IT services map.And Infosys,given its brand equity with Indian talent and itsrelationships with leading universities,continues to be the employer-of-choice for IT professionals.Infosys continues to focus on building strong relationships with large corporations,gaining an in-dept

42、h understanding oftheir decision cycles,and maintaining an impeccable record in customer satisfaction.Our addition of 37 clients in Q4FY2001was the highest ever in a quarter.Of the 122 clients added during the year,the majority were large corporations.Key winsincluded New York Life International,a l

43、eading life insurance firm;ABB Alstom,a global specialist in energy and transportinfrastructure;Providian,the fifth-largest bankcard provider in the US;The Bank of Nova Scotia,a leading global financialinstitution headquartered in Canada;Schlumberger,a leading international technical company;Dynegy,

44、a leading providerof energy and communications solutions;Monsanto,a leading global provider of technology-based solutions and agricultural10Forward-looking statements in the letter to the shareholders should be read in conjunction with the following cautionary statements.Certain expectations andproj

45、ections regarding future performance of the company referenced in this Annual Report are forward-looking statements.These expectations and projectionsare based on currently available competitive,financial,and economic data along with the companys operating plans and are subject to certain future eve

46、ntsand uncertainties,that could cause actual results to differ materially from those that may be indicated by such statements.products;Telenet,a premier telecommunications company in Belgium;Vodafone Networks,a large UK-based mobiletelecommunications company;Siemens Energy and Automation,a provider

47、of complete electrical,engineering andautomation solutions;and Swiss Re,one of the worlds leading re-insurers.We also entered into strategic alliances withMicrosoft,TIBCO,i2 Technologies and Intel.Further,in order to garner expertise in high-potential technology areas,wecontinued to work with high-q

48、uality venture-funded companies.During the year,we launched FINACLE,an integrated core banking solution that leverages Internet technologies todrive the operations of a bank.The banking unit acquired 15 new clients five out of the eight new private sector banks inIndia are now powered by FINACLE.In

49、one of the largest wins for banking software in India,we signed up PunjabNational Bank for deployment of our banking platform across 1,500 branches.Two of Infosys investee companies EC Cubed,a US-based provider of B2B e-commerce solutions,and Alpha Thinx,a Vienna-based company operating in the wirel

50、ess Internet space filed for liquidation during the year.Due to capitalmarket conditions,they were unable to secure funding for their growth plans.We derived tremendous benefits from thesepartnerships and were able to leverage the expertise gained from them across our other clients.However,in line w

51、ith ourconservative reporting policies,pending the conclusion of liquidation proceedings,we have fully provided for theseinvestments and for receivables from these clients in our income statement for the year.We continued to expand our presence overseas and in India,adding approximately 6,40,000 squ

52、are feet in physicalinfrastructure space during the year.We operationalized proximity development centers in Croydon,a suburb of London;Lisle,a suburb of Chicago;Berkeley Heights,New Jersey;and Phoenix,Arizona and also expanded capacity at our globaldevelopment center in Toronto.We established marke

53、ting offices in Hong Kong,Sydney,Phoenix,U.A.E.,Argentina andParis and inaugurated the Infosys City facility in Bangalore.In order to groom leaders of the future,we are setting up theInfosys Leadership Institute in Mysore,Karnataka with state-of-the-art training and hostel facilities.Strict financia

54、l discipline has always been a key imperative for Infosys.We continue to be debt-free,to have conservativebudgeting and cost management processes,and,with$124 million in cash,to have a strong and healthy balance sheet.Infosys was ranked No.1 in a survey by Hewitt Associates and Business Today on the

55、 best companies to work for in India.The Far Eastern Economic Review rated Infosys as the No.1 company in India in the Review 2000.Infosys became the first ITcompany to win the IMC Ramkrishna Bajaj National Quality Award and was also judged by Financial Technology Asia as theBest Regional Software H

56、ouse.For the sixth year in succession,we received the Silver Shield from the Institute of CharteredAccountants of India for the Best Presented Accounts,among the entries received from non-financial,private sector companies.The Asiamoney poll of financial analysts voted us the best in management amon

57、g listed companies in India for the fifth timein a row.The BankAway product from Infosys won the CSI-Wipro Award for the Best Packaged Application for the year2000.During the year,we inducted Prof.Jitendra Vir Singh,Vice Dean,International Academic Affairs at the Wharton School;Dr.Omkar Goswami,Chie

58、f Economist to the Confederation of Indian Industry;Senator Larry Pressler,Former Senator,US Senate and presently Attorney and Senior Partner,OConnor and Hannan LLP;Rama Bijapurkar,a well-knownmanagement consultant;and T.V.Mohandas Pai,Srinath Batni and Phaneesh Murthy,senior officers in the company

59、,ontothe board of directors.Also,during the year,S.M.Datta retired from the board of directors.During the year,V.Balakrishnan,Associate Vice President Finance,took up additional responsibilities as Company Secretary.On your behalf,we wishthem the very best and also salute our fellow Infoscions on an

60、other year of sterling achievements.Nandan M.NilekaniN.R.Narayana MurthyBangaloreManaging Director,PresidentChairmanApril 11,2001and Chief Operating Officerand Chief Executive Officer11You on the cutting edge of technology have already made yesterdaysimpossibilities the commonplace realities of toda

61、y.Ronald ReaganInfosys presents a compilation of projects undertaken during the year that showcase our expertise in leading-edgetechnologies and its impact on our clients.These projects span various industries and extend from designing automobileseat systems to developing software for enabling next-

62、generation optical networks.A recurring theme across these projects is the role of Infosys as an end-to-end partner with active involvement fromconceptualization to implementation.Further,these projects had strict time-to-market imperatives,requiring Infosysto rapidly scale up its project team and u

63、se its Global Delivery Model to deliver within time and budget,whilemeeting the highest quality benchmarks.Infosys is partnering CiDRA in developing innovative optical networking products that use device-level wavelengthmanagement software,thereby increasing network effectiveness.The Johnson Control

64、s project showcases Infosys useof simulation techniques and Finite Element Analysis to engineer state-of-the-art designs for automobile seats.Infosysimplemented an end-to-end ERP solution for Toshiba and is playing a vital role in Ciscos Voice over IP and opticalnetworking projects by developing cri

65、tical software components and solutions.We have attempted to convey complex technology ideas in simple terms.However,we request readers to note that itis difficult to convey such ideas without using some technical language.Infosys Technology at workSoftware for OpticalNetworking ProductsAutomotive S

66、eatingSystem DevelopmentEnterprising InitiativesVoice over IP12Software for Optical Networking ProductsiDRA Corporation,a high-technology manufacturing company based in theUnited States,designs,manufactures and markets networking and sensingproducts based on optical fiber technology.Infosys develope

67、d the firmware for keycomponents of the Optical Channel Monitor(OCM),one of CiDRAs offerings fornext-generation optical networks.Infosys managed the entire software lifecycle,from architecture definition toimplementation,for the 2-Phase Downhole Flowmeter.This device,a key componentof CiDRAs permane

68、nt remote sensing system,is designed to operate under a widerange of temperatures,and withstand compression of over 1000 atmospheres.Atwo-tier architecture was adopted using Microsofts COM/DCOM technology toseparate the process of delivery of results from the data acquisition systems.Further,facilit

69、ies were provided for system administration,maintenance and data accessover a local area network or a modem.Infosys developed embedded software forthe Digital Signal Processor,incorporating statistical algorithms for automatic edgedetection,to ensure robust detection of optical signals and dynamic r

70、atecomputation.An Algorithm Manager was developed to control the allocation ofcomputational resources,based on the theory of Directional Acyclic Graphs(DAG).A Fault Manager wasalso developed to enable self-health diagnosis and autonomous failure recovery.Next-generation optical networksInfosys is pa

71、rtnering with CiDRA to develop photonic products for bandwidth management in next-generation communication systems that will rapidly deploy and distribute bandwidth to multiple pointswithin the optical network.This increased provisioning complexity will require Reconfigurable OpticalNetwork Elements

72、(RONE)that have built-in intelligence through embedded software,and provide controlcloser to the physical layer.Self-aware,Smart Optical Network Elements(SONE),having intelligence inthe physical layer,will reduce the complexity of the network software required to control and optimize theoptical netw

73、ork.As part of its family of AgileWaveTM products for next-generation communication systems,CiDRA is currentlydeveloping an OCM device.This is an optical spectral analyzer for Dense Wavelength Division Multiplexing(DWDM)channel monitoring that uses precisely-tunable Bragg grating technology for impr

74、oved channelresolution and optical signal-to-noise measurement.A Bragg grating has varying refractive index along thecore of the optical fiber.Consequently,wavelength scanners based on this technology have better resolutionand higher configurability as compared to contemporary technologies.C13Infosy

75、s contribution to the Optical Channel MonitorThe figure illustrates the basic design of the OCM device.Using an optical tap made on a telecommunicationsfiber,a small amount of light is passed through an optical filter based on CiDRAs tunable filter technology.The output of the filter is detected by

76、a photodiode that measures the signal power over the wavelengthband sampled by the filter.The sampled value is further filtered by the Digital Signal Processor(DSP).Infosys developed an advanced deconvolution signal-processing algorithm to extract data from the photodetector.The firmware developed f

77、or the DSP handles signal processing for extracting data from thephotodetector,and also performs real-time control for filter positioning.The filters are scanned using a design that provides highly accurate and fast filter positioning over manycycles.A precision feedback system allows accurate measu

78、rement of the filter position in the wavelengthdomain.The filters are controlled using a dedicated processor.Infosys was involved in developing a real-time,closed-loop controller firmware to enable accurate sweep control of the filter.Separate coordinatedprocessors are currently used to sample and f

79、ilter optical power,and to control filter tuning.An independenthost processor accepts user scan and setup commands,and displays the data acquired by the system.Thecalibration software developed for the host computer incorporated compensation techniques involvingtwo-dimensional surface approximation

80、techniques.The cutting edgeInfosys technical contributions to the OCM,together with its rapid development and implementation ofprototype embedded systems,has provided CiDRA with an important technical advantage in thedemonstration of new product feasibility in an industry that rewards innovation and

81、 speed-to-market.14Automotive Seating System DevelopmentComponents of the designand the production processJohnson Controls Inc.(JCI)is a Fortune 500 multinational corporation involvedin the design,development and manufacturing of automotive seating and interiorsystems.JCI supplies these systems to a

82、utomotive giants such as Ford,GM,Chryslerand Volvo.Using advanced techniques in mathematics,structural mechanics,FiniteElement Analysis(FEA),iterative design,and simulation,Infosys has helped JCIreduce cost and cycle time in the design of automotive seats.Engineering seating system simulationIn orde

83、r to ensure occupant safety in road accidents,several countries,as well as,supranational institutions have implemented regulations that prescribe stringentdesign specifications for seats and accessories.The key technological challenge in this project was to simulate the crashing of avehicle.The desi

84、gn cases for crash analysis include head-end and rear-end crashesagainst another moving or another stationary vehicle.Conventional finite elementtechniques,based on implicit methods,fall short of addressing such simulations,as the duration of the incident is typically less than one tenth of a second

85、.TheInfosys team established an FEA methodology and analysis process using the explicittime integration method,and performed the crash simulation and analysis using various third-party softwaretools.Infosys has implemented and simulated crash scenario models for various combinations of key component

86、sincluding passenger seat,dummy placement,safety feature profile and crash loads.The most complexpart of a crash simulation is the occupant modeling.Human dummy models representing the 95th or 50thpercentile of the specified countrys population were modeled with high accuracy using FEA.Each dummypro

87、file requires specifications for more than 90 components and 43 joints.The simulation takes intoaccount factors such as material non-linearity,contacts,deformation and plastic strain profiles.It alsoincludes safety-modeling features such as seat belts,retractors and pre-tensioners.The output of thes

88、imulation process includes crash performance metrics for the seating structure,components,mechanisms,driver safety and passenger safety.15The simulation life cycleThe Infosys edgeInfosys partnered with JCIs UK division in the complete seating system design life-cycle,and brought itsdeep domain knowl

89、edge as well as its technology expertise to the process.This has resulted in improvementsin seat design,and reductions in design cycle time.For instance,Infosys and the JCI Team designed a seat-back structure concept in three weeks,as opposed to an industry average cycle time of three months.Other k

90、ey contributions of Infosys are:?Playing a significant role in developing a new class of seating systems,compliant with Europeanregulations,from concept to proof.?Developing critical mechanisms for new generation seating systems,such as a true flat-fold mechanismfor tabletop,and a striker-bar mechan

91、ism for seat anchorage.One of the sub-systems developed by theInfosys-JCI team is in the process of being patented.?Re-engineering existing seating systems by adding new functionality and features.?Rectifying problems concerning in-field seating systems,using Failure Investigation techniques basedon

92、 FEA,and successfully redesigning these systems.Global delivery advantageInfosys has established a dedicated offshore facility for JCI in Bangalore that has state-of-the-art software,such as LS-DYNA from Livermore Software Technology Corporation and MARC from MSC SoftwareCorporation,and high-end mul

93、ti-processor,number-crunching hardware,such as SGI Origin2200 andHP-J6000.By segregating the product development environment into onsite and offshore components,Infosys has been able to effectively leverage the Global Delivery Model to deliver a high-quality,rapid-deployment solution to JCI.16Enterp

94、rising Initiativesoshiba America Electronic Components Inc.is one of the largest suppliers ofsemiconductors,electronic components and storage devices.The OrderFulfillment project is an end-to-end ERP implementation for Toshiba.Infosyscompleted the project in 18 months,as compared to an estimated tim

95、e of 30 monthsby other vendors.This was accomplished by relying on our IntERPryz methodologyfor ERP implementation,deep domain expertise,and sound project managementtechniques.Toshiba wanted to revamp its business processes to reduce Order-to-Delivery lead-time,minimize inventory,increase customer s

96、ervice levels,and enhance supplychain visibility.Moreover,Toshibas diverse existing systems,built on heterogeneoustechnology platforms,needed to be integrated.This was achieved by implementinga robust,scalable,flexible and highly configurable system.The Infosys edgeInfosys was involved in business p

97、rocess definition,program management,projectmanagement,package evaluation,package implementation,key user training,andpost-production support.Infosys helped streamline Toshibas supply chain by implementing and integrating solutions in EnterpriseResource Planning(ERP),Supply Chain Management(SCM)and

98、Warehouse Management System(WMS)/Transportation Management System(TMS).Oracle Applications R11.0.3 was implemented tostreamline manufacturing,distribution,procurement and financial accounting processes,and was integratedwith i2 Technologies Demand Planner.A new enterprise WMS/TMS product from HK Sys

99、tems wasevaluated and implemented for improving order-execution efficiency,outbound visibility,and reverselogistics.These applications run on Sun Solaris 2.6 and Windows NT platforms.An enterprise-wide data model was prepared for standardizing performance metrics across the organizationand streamlin

100、ing Toshibas internal processes.This involved gaining a deep understanding of the businessprocesses,and implementing systems to extract and report these data.Extending the ERP packageInfosys enhanced the functionalities offered by the chosen packages,by using its IntERPryz methodologyfor extending t

101、he ERP solution.More than 20 modules were designed,developed and fully integrated withthe ERP package,thus,catering to the specific non-standard functionality requirements.These add-onapplications are designed as plug-in modules.Infosys contributions for the add-on applications include:?Developing a

102、 stock allocation system incorporating a rule-based algorithm that ensures seamlessexecution of Toshibas customer support plan.?Developing a distribution system for managing the sales channel through distributors,getting real-time visibility to the distributors inventory,and ensuring price protectio

103、n.?Building a sales commission system,which implements a multi-level split commission policy,alongwith,the engineering design tracking for prototypes.T17Network,Hardware and Application Architecture?Creating an Early Shipping Advance(ESA)system to manage the inbound supply chain visibility,starting

104、from the factory production and warehouse to the shipments arrival at US ports,and thencross-docking or re-routing directly to the customers.High performance solutionA high degree of fault tolerance,in hardware and software,was achieved by a three-tier solution.CiscosLoad Director was used for optim

105、al load balancing.A parallel concurrent processing architecture,havingmultiple concurrent managers,running in separate servers,was able to process a large number of jobssimultaneously,to enhance throughput for batch jobs.Further,24-hour availability was ensured by havingalternate managers execute jo

106、bs in the course of failure of any manager.Finally,an elaborate databasesizing exercise ensured optimal performance at the database level.18Voice over IPisco Systems Inc.,a California-based company,is a leader in networking andInternet backbone products such as routers and switches.Infosys has beenc

107、hosen as a strategic Cisco partner by the companys Global Partner Engineering(GPE)group,and has played a vital role in the development and support of theCisco Call Manager(CCM),encompassing areas of test automation,stress testing,conference control,and alarm configuration.Infosys has delivered criti

108、cal productson schedule by leveraging its expertise in the Voice over IP(VoIP)domain.Infosysdomain knowledge in VoIP includes areas such as architecture for IP PBX,callprocessing features,gateways,routers,IP phone services protocols,routing protocols,and open telephony standards.Call ManagerThe CCM

109、is the software-based call-processing component of the Cisco IP Telephonysolution,and is a part of the Cisco Architecture for Voice,Video and IntegratedData(AVVID).The CCM extends enterprise telephony features and functions topacket telephony network devices such as IP phones,media processing device

110、s,VoIP gateways,andmultimedia applications.An IP network consisting of the CCM,IP phones,gateways and applicationsprovides a distributed virtual telephony network.Infosys contributionInfosys played a vital role in the CCM effort by developing a number of tools and utilities for stress-testingand sim

111、ulation.Key contributions include:CA virtual network19?Developing a Stress-testing and Performance Management tool a highly-configurable,real-timeapplication for simulating heavy load scenarios for device registration,call processing(with/withoutvoice streaming)and redundancy support.This tool enabl

112、es the simulation of a network of over 1000IP phones on a single PC.Multiple servers can be used to scale-up to simulate any number of phonesfor stress testing.?Developing a Media Gateway Control Protocol(MGCP)simulator a tool for setting up a large numberof MGCP gateways and load-testing the CCM.It

113、 emulates gateway behavior during registration to theCCM,and during switchover and switchback of the CCMs in a cluster setup.A TCP setup has beenprovided for handling Q931 messages that,in turn,can be used in the future to stress-test such messagesbetween the CCM and the gateways.Currently,each inst

114、allation supports 50 gateways,with an optionto scale up by having multiple installations.A command line interface test-scripting facility has beenprovided for test automation.?Building a Script Automation tool for simulating features of IP phones.This application can handle allthe messages from IP p

115、hones to PBX(a subset of H323).?Architecting a web-based and cross-platform-compatible Billing and Reporting product for IP PBX.This has been rolled out as a plug-in to the CCM.It records and classifies the call type,as well as,theQuality of Service(QoS).It also applies rating parameters,and provide

116、s information on calls made byusers,billing,Quality of Service,traffic statistics and device utilization.Further,it provides a LightweightDirectory Access Protocol(LDAP)interface for enterprise information stored in different directoryservers.Among other places,the product is deployed in a space shi

117、p launched by NASA.Optical networkingInfosys has played a key role in the Operations Systems Modifications for the Integration of NetworkElements(OSMINE)certification for the ONS 15454 product.This required defining a TL1 interface byimplementing hundreds of new commands and correcting the behavior

118、of existing commands.Facedwith a timeline of three months,Infosys demonstrated its ability to understand complex system architecturesrapidly.Infosys has implemented a large number of new commands in areas such as protection switching,performance monitoring and test access,thereby improving the quali

119、ty of the software.20Management council inviteesBoard of directorsN.R.Narayana MurthyNandan M.NilekaniDeepak M.SatwalekarProf.Marti G.SubrahmanyamRamesh VangalPhilip YeoProf.Jitendra Vir SinghDr.Omkar GoswamiSen.Larry PresslerRama BijapurkarGopalakrishnan S.Dinesh K.Shibulal S.D.Mohandas Pai T.V.Pha

120、neesh MurthySrinath BatniCommittees of the boardAudit committeeDeepak M.Satwalekar,ChairmanProf.Marti G.SubrahmanyamRamesh VangalDr.Omkar GoswamiSen.Larry PresslerRama BijapurkarCompensation committeeProf.Marti G.Subrahmanyam,ChairmanDeepak M.SatwalekarPhilip YeoProf.Jitendra Vir SinghDr.Omkar Goswa

121、miNominations committeeRamesh Vangal,ChairmanPhilip YeoProf.Jitendra Vir SinghSen.Larry PresslerInvestor grievance committeePhilip Yeo,ChairmanRama BijapurkarNandan M.NilekaniDinesh K.Shibulal S.D.Srinjay SenguptaRegional Manager and Associate Vice President Sales EuropeSrinivas B.G.Associate Vice P

122、resident Delivery Enterprise SolutionsSrinivasan V.Associate Vice President Delivery Banking Business UnitSriram V.Regional Manager and Associate Vice President Sales Asia PacificSrivathsa P.S.Senior Manager Recruitment HRDSubramanyam G.V.Associate Vice President Software Engineering&Technology Labs

123、Sukumar S.Manager Corporate PlanningPadmanabhan VenkataramanAssociate Vice President Delivery QualityVenkataramanan T.S.Associate Vice President Banking Business UnitAdvisor to the managementcouncilJayaram G.K.,Dr.Head Infosys Leadership InstituteVoice of the YouthAyan ChatterjeeAshiss Kumar DashMuk

124、ul GuptaEshan JoshiMadhavan V.B.Manjula M.K.Nagaraj N.S.Vinayak Pai V.Meera RajeevanInfosys FoundationTrusteesRaghavan N.S.,ChairmanSudha MurtySudha GopalakrishnanAs on April 25,2001Bhashyam M.R.Associate Vice President Software Engineering Process GroupBinod H.R.Associate Vice President Commercial&

125、FacilitiesSubhash DharRegional Manager andAssociate Vice President SalesDheeshjith V.G.Associate Vice President Delivery Asia PacificBhaskar GhoshAssociate Vice President Development Center BhubaneswarNandita GurjarAssociate Vice President Learning&Development HRDRamadas Kamath U.Associate Vice Pres

126、ident Accounts&AdministrationVivekanand P.KochikarSenior Project Manager Education&ResearchSudha KumarAssociate Vice President Corporate MarketingVijay Kumar C.Associate Vice President Infrastructure DevelopmentHariharan S.MurthyRegional Manager and Associate Vice President Sales Communication&Produ

127、ct ServicesNarendran K.Senior Project Manager Development Center MangaloreParameswar Y.Associate Vice President Communication&Product Services Other Telecom BusinessPrasad T.P.Regional Manager and Associate Vice PresidentSales South North AmericaPravin Rao U.B.Vice President Delivery(South North Ame

128、rica)Priti Jay RaoAssociate Vice President Development Center PuneShiv Shankar N.Associate Vice President Development Center ChennaiSivashankar J.Associate Vice President Information Systems21To the members,Your directors are pleased to present their report on the business and operations of your com

129、pany for the year endedMarch 31,2001.Financial resultsin Rs.crore except per share data*Year ended March 3120012000Total income1,959.94921.46Total expenditure1,135.73542.58Provision for investments15.29Operating profit(PBIDT)808.92378.88InterestDepreciation112.8953.23Profit before tax and extraordin

130、ary item696.03325.65Provision for tax72.7139.70Profit after tax before extraordinary item623.32285.95Extraordinary itemtransfer of intellectual property right(net of tax)5.49provision no longer required7.57Net profit after tax and extraordinary item628.81293.52AppropriationsInterim dividend paid16.5

131、49.92Final dividend recommended49.6219.84Total dividend66.1629.76Dividend tax8.703.27Transferred to general reserve553.96260.49Earnings per share(equity shares,par value Rs.5 each)Basic95.0644.38Diluted94.7644.37*1 crore equals 10 million.Results of operationsTotal revenues grew to Rs.1,959.94 crore

132、 from Rs.921.46 crore last year,a growth rate of 112.7%.Operating profit grewto Rs.808.92 crore(41.27%of total revenues)from Rs.378.88 crore(41.12%of total revenues),a growth rate of 113.5%.Profit after tax,from ordinary activities,increased to Rs.623.32 crore(31.80%of total revenue)from Rs.285.95 c

133、rore(31.03%of total revenue),an increase of 118.0%.During the year,the company transferred its intellectual property rights in Onscan,a web-enabled notification product,toOnMobile Systems Inc.(formerly known as Onscan Inc.).The product was transferred for a gross consideration of Rs.8.93crore(US$2 m

134、illion),received in the form of preferred voting and non-voting securities of OnMobile Systems Inc.Theincome from the transfer of Rs.5.49 crore(net of tax)is disclosed as an extraordinary item.During the year,two of your companys investee companies,EC Cubed Inc.and Alpha Thinx Mobile Phone Services

135、AG,filed for liquidation.Pending the conclusion of liquidation proceedings,your company has provided Rs.15.29 crore towardsthe entire amount of these investments.DividendAn interim dividend of Rs.2.50 per share(50%on par value of Rs.5)was paid in November 2000.Your directors nowrecommend a final div

136、idend of Rs.7.50 per share(150%on par value of Rs.5)aggregating Rs.10.00 per share(200%onpar value of Rs.5),for the current year.The total amount of dividend is Rs.66.16 crore,as against Rs.29.76 crore for theprevious year.Dividend(including dividend tax),as a percentage of net profit after tax from

137、 ordinary activities,is 12.00%,as compared to 11.55%in the previous year.Under the Indian Income Tax Act 1961,the receipt of dividend is tax-free inthe hands of the shareholders.The tax on distributed profits,payable by the company,increased to Rs.8.70 crore fromRs.3.27 crore in the previous year.Di

138、rectors report22Increase in share capitalYour company issued 7,417 shares on the exercise of stock options,issued under the 1998 and 1999 employee stockoption plans.Due to this,the outstanding issued,subscribed and paid-up equity share capital increased from 6,61,50,700shares,during the previous yea

139、r,to 6,61,58,117 shares in the year under review.BusinessYour company demonstrated all-round growth during the year.Under Indian GAAP,revenues grew by 113%over FY2000while net profits from ordinary activities witnessed an increase of 118%.As transformation partners to Fortune 500corporations,your co

140、mpany continued to focus on building long-term relationships,reflected in its repeat business rate of85%.Your company signed up 122 new clients,the majority of whom were large corporations,and had a total client baseof 273 at the end of the year.Further,your company had 80 million-dollar clients,19

141、five-million-dollar clients and 11 ten-million-dollar clients as compared to 42,10 and 4 in the previous year.A sizeable proportion of your companys growth was driven by helping Fortune 500 and other established companies toembrace the new economy paradigm.The company also worked with various ventur

142、e-funded clients to garner expertise inniche technology areas,which was leveraged to provide high-technology solutions to larger corporations around the world.Revenues from start-up and venture-funded companies accounted for 10.8%of total revenues.The following table providesthe percentage of income

143、 from dot-com and Internet,and telecom start-up companies during the year.Q1Q2Q3Q4FY 2001Dot-com and Internet start-up companies10.9%9.5%5.8%4.0%7.1%Telecom start-up companies6.3%2.7%3.5%3.0%3.7%Total start-up and venture-funded companies17.2%12.2%9.3%7.0%10.8%Given recent conditions in the capital

144、markets,your company intends to reduce its exposure to venture-funded companies,and to work even more selectively in this space.The year also saw your company scaling up on the human resources and infrastructure front.Net of separations,4,442employees were added,taking the total strength to 9,831.Yo

145、ur company added another 6.4 lakh square feet of physicalinfrastructure space,taking the total space available to 16.7 lakh square feet.The total number of marketing offices increasedto 25,up from 20 in the previous year.Your companys software export revenues aggregated Rs.1,874.03 crore,up 115.48%f

146、rom Rs.869.70 crore the previousyear.During the year,74.6%of the export revenues came from North America,19.1%from Europe,and 6.3%from the restof the world.The share of the fixed-price component of the business was 28.2%,as compared to 31.5%during the previousyear.Revenue productivity,in dollar term

147、s,grew by 27.0%.Several market studies published recently point to a slowdown in IT spending in the United States,which is a key marketfor your company.Your company is closely monitoring the market situation and believes that its unique business modeland prudent risk-management practices,coupled wit

148、h a strong customer base and deep client relationships,give it asustainable long-term competitive advantage.Your company will aggressively pursue new opportunities and will ensureadequate internal preparedness to take maximum advantage of such opportunities.Banking Business Unit(BBU)With a 100%incre

149、ase in revenues over the previous year,the Banking Business Unit demonstrated rapid growth.Yourcompany launched FINACLE,an integrated core banking solution that is centralized,multi-currency and multi-languageenabled,functionally rich,and addresses both retail and corporate banking requirements.Posi

150、tioned as a core bankinge-platform that brings about a paradigm shift in the way banking is conducted,FINACLE leverages Internet technologiesto drive the operations of a bank.The Banking Business Unit has consolidated its position in the Indian and African markets,and has also expanded into theMiddl

151、e East.During the year,it acquired 15 new clients,10 in India and 5 overseas,for FINACLE,BankAway,andPayAway applications.In one of the largest wins for banking software in India,your company signed up Punjab NationalBank for deployment of its banking platform across 1500 branches.At present,five ou

152、t of the eight new private sectorbanks in India are powered by FINACLE.With this,your company has gained the highest market share amongst Indianbanks offering Internet banking services.23Global software development centersIn 1999,as part of its globalization program,your company launched several dev

153、elopment centers outside India.Duringthe year,your company started a proximity development center in Croydon,a suburb of London,UK.The center currentlyhas 37 employees and can scale up to accommodate 82 employees.The company also expanded capacity at its globaldevelopment center in Toronto,Canada.Th

154、e center currently has 58 employees and can scale up to accommodate 114employees.Your company also opened three proximity development centers in the USA,at Lisle,a suburb of Chicago,Illinois;Berkeley Heights,New Jersey;and Phoenix,Arizona.These centers have the potential to scale up to accommodate95

155、,110 and 30 personnel respectively.Development centers in IndiaYour company incurred capital expenditure aggregating Rs.349.51 crore on physical infrastructure,up from Rs.122.40crore the previous year.Further,your company incurred Rs.113.84 crore on technological infrastructure,up fromRs.37.47 crore

156、 the previous year.Of the total capital expenditure,Rs.349.66 crore has been capitalized during the year,upfrom Rs.117.79 crore the previous year.The Infosys City facility in Bangalore was inaugurated during the year.Construction of the Management DevelopmentCenter is on schedule.An additional 60,00

157、0 square feet of software development infrastructure to accommodate 600professionals is in the final stages of completion.Additionally,construction has commenced on three software developmentblocks comprising 3,00,000 square feet with a capacity to accommodate 1,800 professionals.The existing capaci

158、ty atBangalore comprises 8,82,500 square feet capable of accommodating 4,500 professionals.Phase II of the Pune campus is progressing as per schedule.The Mangalore campus is complete and currently has abuilt-up area of 1,98,000 square feet to accommodate 950 professionals.In both these cities,the ex

159、isting leased premisesare being vacated.In Bhubaneswar,a second software development block of 75,000 square feet to accommodate 600professionals,along with a food court of 28,000 square feet,is nearing completion.In Chennai,Phase I of the softwaredevelopment center is substantially complete and is g

160、etting ready for use.Phase II of the software development centercomprising 2,36,000 square feet to accommodate 1,300 professionals is under construction.Construction of Phase I of thenew campus at Hyderabad comprising 2,73,000 square feet commenced during the year with a capacity to accommodate1,200

161、 professionals.In Mysore,Phase I of the software development center and the Infosys Leadership Institute(ILI)campus is progressing asper schedule.As of March 31,2001,the company had 16,65,800 square feet of space capable of accommodating 10,100professionals and 19,08,200 square feet under constructi

162、on including the ILI.Overseas branchesTo accelerate the sales effort in overseas markets,sales offices were opened in Hong Kong,Sydney,Phoenix(Arizona),U.A.E.,Argentina and Paris.During the coming year,additional sales offices are expected to be opened in North America,Europe and Asia.Expansion of t

163、he overseas sales network will help your company access new markets and broaden itsclient base.As at the year-end,your company had 21 marketing offices overseas.Incubator fundingYour company is in an industry that offers great opportunity for highly competent and entrepreneurial professionals withhi

164、gh aspirations.In keeping with its philosophy of encouraging budding entrepreneurs within the organization,yourcompany has provided an incubation mechanism for them to launch their own ventures while continuing to derive benefitsfrom a close association with Infosys.Your company incubated Yantra Cor

165、poration,a provider of e-fulfillment solutions,infiscal 1996 and OnMobile Systems Inc.(formerly known as Onscan Inc.),a wireless solutions provider,in fiscal 2000.Yantra CorporationYantra Corporation provides e-business software solutions for managing supply chain transactions across the extraprise.

166、During the year,Yantra installed a high-quality management team and intensified its sales effort to implement its growthobjectives.Yantra also closed a$40 million venture funding round with participation from Morgan Stanley Dean WitterPrivate Equity,Amerindo,Broadvision,VerticalNet,Easter Chemical C

167、ompany and other investors.Further,Yantraannounced a strategic alliance with Accenture(formerly known as Andersen Consulting)to provide supply chain solutionsthrough PureEcommerce,a fully web-enabled application that manages,tracks and executes complex customer transactions24across a companys extend

168、ed supply chain.Infosys economic interest in Yantra has come down to 15.8%(on a fullydiluted basis).However,Yantra continues to be a subsidiary under the Companies Act,1956 as the majority of the commonstock is held by your company.The particulars of the subsidiary company required to be provided un

169、der section 212 ofthe Companies Act,1956,are attached to the Indian GAAP financial statements contained in this annual report.OnMobile Systems Inc.OnMobile Systems Inc.(formerly known as Onscan Inc.)is a wireless solutions provider to enterprises and wirelesscarriers around the world.The company off

170、ers platforms,applications and professional services to deliver end-to-endwireless solutions.The companys solutions allow wireless carriers to provide innovative services to their customers andenable enterprises to deploy applications targeted towards their mobile workforce.During the year,your comp

171、any transferredits intellectual property rights in Onscan,a web-enabled notification product,to OnMobile Systems Inc.The product wastransferred for a gross consideration of$2 million,received in the form of preferred voting and preferred non-votingsecurities of OnMobile Systems Inc.Shortly thereafte

172、r,OnMobile Systems closed a$15 million venture funding roundwith participation from Argo Global Capital,H&Q Asia Pacific and other investors.JASDICJASDIC Park Company is an Indo-Japanese consortium founded by Mr.Kenichi Ohmae,a well-known management strategist,along with a few Japanese companies and

173、 three Indian companies including your company.The aim of JASDIC is toprovide high-quality software services from India to the Japanese market.This is in line with your companys strategy todiversify its geographic client base.Revenues from JASDIC grew by 59.3%over the previous year.Your company expe

174、ctsfurther growth in revenues from Japan through this venture.Strategic investmentsYour company had announced its intention to make selective investments in leading-edge companies that have the potentialto yield substantial business benefits.Such investments were also envisaged in select venture cap

175、ital funds.Benefits fromthese investments are primarily in the form of revenue and net income enhancements,through technology partnershipsand access to the latest technological developments.Your company has leveraged the expertise derived from its investeecompanies to deliver value to large clients

176、across the globe.During the year,EC Cubed Inc.,a US-based provider of B2B e-commerce solutions in which your company had made astrategic investment amounting to Rs.13.08 crore,filed for liquidation.Alpha Thinx Mobile Phone Services AG,a Vienna-based company operating in the wireless Internet space,i

177、n which your company had made a strategic investment amountingto Rs.2.21 crore,also filed for liquidation.Due to adverse capital market conditions,these entities were unable to raise thecapital required to fund their growth plans and were therefore forced into liquidation.Pending the conclusion of l

178、iquidationproceedings,your company has provided for the entire amount of these investments.Human resource managementGiven the knowledge-intensive nature of your companys activities,human resources are among its most critical assets.Recognizing this,your company has put in place a scalable recruitmen

179、t and human resource management process,enablingit to attract and retain high-calibre employees.Your company added 4,442 employees,net of separations,taking the totalstrength to 9,831 up from 5,389 at the end of the previous year.Your company has a robust selection process,evidencedby the ability to

180、 conduct aptitude tests for up to 10,000 applicants in a single day across India.Entry-level engineers are put through intense technical training and are also exposed to cross-functional training that helpshone their soft skills.Further,all employees are eligible for your companys stock option plan.

181、Your companys attrition rate,at 11.2%for the year(9.2%for the previous year),is a testimony to its ability to attract and retain high-quality talent.In order to ensure a safe and congenial workplace,your company has formulated and implemented a policy against sexualharassment.Process improvements ha

182、ve also been made in the areas of recruitment,training and visa processing.QualityYour company is rated at Level 5 of the Capability Maturity Model(CMM)of the Software Engineering Institute at CarnegieMellon University,USA.To address the challenges of the future and to ensure performance improvement

183、 in an integratedmanner,your company has launched the Infosys Excellence Initiative(IEI),which is a single umbrella for all qualityinitiatives within the organization.This initiative spans various functions in the organization,namely core delivery processes,functional and cross-functional processes,

184、and organizational management processes.It envisages leveraging CMM Level 5for delivery processes,the Malcolm Baldrige framework for organizational management processes,and 6-sigma CrossFunctional Process Mapping(CFPM)techniques for improving cross-functional processes.25The Malcolm Baldrige framewo

185、rk will focus on the overall assessment of your companys business and integration of all itsbusiness activities.6-sigma CFPM techniques are being used to improve customer relationship management,customerorder management,talent deployment,and other cross-functional processes.For instance,the Visasixe

186、rs initiative waslaunched to enhance internal customer satisfaction with the visa filing process,and to decrease response time for specificrequirements by streamlining these processes.A cross-functional team was established which identified and implemented18 action items,thereby leading to 76%increa

187、se in internal customer satisfaction,96%adherence to service levels,and50%reduction in cycle times.Infosys Leadership InstituteIn order to groom leaders of the future,the Infosys Leadership Institute(ILI)campus is being constructed in Mysore,Karnataka.Leadership development is being planned across t

188、he organization from junior to senior levels of management.The ILI campus will have state-of-the-art training facilities,along with hostel facilities for the participants of the trainingprogram.This initiative will proactively seek to develop and facilitate leadership skills among Infoscions,through

189、 a mix ofclassroom and action-oriented learning.InStep global internship programAs part of its brand building efforts with leading universities around the world,your company has developed InStep,aglobal internship program.The program selects high-quality students from top academic institutions acros

190、s the globe anddeploys them on live projects in your companys offices worldwide.InStep has had students from a variety of backgrounds,cultures,and universities ranging from computer science undergraduates from the Massachusetts Institute of Technologyto graduate students of business from the Wharton

191、 School.This year,your company held InStep information sessions in 14educational institutions in the US,UK,Canada and France.Subsequently,we received 700 applications for just 24 internshippositions.InStep is an integral part of your companys international recruitment initiative that aims at making

192、its workforcetruly global.The new information infrastructureYour company firmly believes that internal IT initiatives are a key ingredient for sustained corporate growth.IT is anenabler of global delivery and 24 x 7 operations and is therefore a key driver of customer satisfaction.For its internal I

193、Tsystems,your company uses an intranet backbone,straddling a range of technologies,along with a strong back-end in SAPR/3 and Microsoft technologies.Your company has implemented the latest SAP R/3 version 4.6 on a state-of-the-art Storage Area Network(SAN)solutionto enable high performance and 24 x

194、7 availability.Further,a range of custom-built,web-enabled systems have beenimplemented that address your companys business needs.Ongoing IT initiatives range from building a globally scalableinfrastructure to implementing e-CRM and deploying extranets.The implementation of these willGdrive informat

195、ion availability to a global work force,Genhance employee and process productivity,andGfurther strengthen our client partnerships.Additional information to shareholdersIn earlier years,your company provided additional information in the form of intangible assets scoresheet,human resourcesaccounting,

196、value-added statement,brand accounting,economic value-added statement,and financial statements insubstantial compliance with the GAAP of six countries,in addition to the US and India.This information is provided in thisyears Annual Report also.Basic financial statements are generally prepared on the

197、 historic cost basis for income measurement and asset valuation.Ina changing price environment,financial statements should reflect changes in the economic environment.The Institute ofChartered Accountants of India has issued a Guidance Note on Accounting for Changing Prices.Your company has recastit

198、s balance sheet and profit and loss account for the current year in accordance with this guidance note to reflect the impactof changing prices on its historic cost basis financial statements.This information is provided in the section on Additionalinformation to shareholders.Corporate governanceWith

199、 increasing globalization,there has been a renewed thrust on corporate governance in India.Your company continuesto be a pioneer in benchmarking its corporate governance policies with the best in the world,and its efforts are widelyrecognized by investors in India and abroad.26The Kumar Mangalam Bir

200、la Committee on Corporate Governance constituted by the Securities and Exchange Board ofIndia(SEBI)submitted its report in November 1999 that was accepted by SEBI in December 1999.While therecommendations of the committee have become mandatory from this year,your company complied with most of therec

201、ommendations in fiscal 2000 itself.For fiscal 2001,the compliance report is provided in the Corporate governancesection in this report.The auditors certificate on compliance with the mandatory recommendations of the committee isannexed to this report.In addition,your directors have documented your c

202、ompanys internal policies on corporate governance.In line with thecommittees recommendations,the management discussion and analysis of the financial position of the company is providedin this Annual Report and is incorporated here by reference.Your company has also provided a compliance report on va

203、rious corporate governance recommendations in vogue in sixcountries,in their local languages,for the benefit of our shareholders in those countries.Responsibility statement of the board of directorsThe directors responsibility statement setting out the compliance with the accounting and financial re

204、porting requirementsspecified under Section 217(2AA)of the Companies(Amendment)Act,2000,in respect of the financial statements,isannexed to this report.Employee Stock Option Plan(ESOP)Your company has introduced various stock option plans for its employees.Details of these,including grants to senior

205、management,are given below.Senior management includes directors of your company and members of its ManagementCouncil.1994 Stock Offer Plan(the 1994 plan)The 1994 plan came to an end in fiscal 2000;no further options will be issued under this plan.1998 Stock Option Plan(the 1998 plan)Your company has

206、 issued 9,64,840 ADS-linked stock options to 752 employees during the year under the 1998 plan.Details of such options granted under the 1998 plan are given below.DescriptionDetails1.Total number of shares3.20 million ADS representing 1.60 million shares2.The pricing formulaNot less than 90%of the f

207、air market value as on date of grant3.Ratio of ADS to equity sharesOne share represents two ADS4.Options granted during the year9,64,840 options representing 4,82,420 equity shares5.Weighted average price per option granted$115.44(Rs.5,375);100%of fair market value on the date of grantduring the yea

208、r6.Options vested(as of March 31,2001)1,47,350 options representing 73,675 equity shares7.Options exercised during the year12,434 options representing 6,217 equity shares8.Money raised on exercise of options$4,07,128(Rs.1,89,07,845)9.Options lapsed during the year600 options representing 300 equity

209、shares10.Total number of options in force at the15,65,506 options representing 7,82,753 equity sharesend of the year11.Grant to senior managementNo.of optionsNo.of optionsAjay Dubey780Basab Pradhan12,000Girish G.Vaidya1,380Hema Ravichandar2,400Jan DeSmet6,000Mohan Sekhar2,400Phaneesh Murthy20,000Sob

210、ha Meera12,000Gr.Capt.Deepak Sinha900Srinath Batni2,000Total options granted to senior management during the year59,86012.Employees holding 5%or more of the total number of options granted during the year:Nil271999 Stock Option Plan(the 1999 plan)Your company has issued 19,57,830 stock options to 9,

211、376 employees during the year under the 1999 plan.The details ofsuch options granted under the 1999 plan are given below.DescriptionDetails1.Total number of shares66,00,000 shares2.The pricing formulaAt the fair market value as on date of grant3.Options granted during the year19,57,830 options for 1

212、9,57,830 equity shares4.Weighted average price per option grantedRs.6,249(100%of fair market value on the date of grant)during the year5.Options vested(as of March 31,2001):94,600 options for 94,600 equity shares6.Options exercised during the year1,200 options for 1,200 equity shares7.Money raised o

213、n exercise of options:Rs.48,78,0608.Options lapsed during the year1,260 options for 1,260 equity shares9.Total number of options in force at the27,93,980 options for 27,93,980 equity sharesend of the year10.Grant to senior managementNo.of optionsNo.of optionsAjay Dubey2,610Gr.Capt.Deepak Sinha2,550D

214、r.P.Balasubramaniam3,000Srinath Batni5,500Hema Ravichandar2,200Balakrishnan V.6,000T.V.Mohandas Pai10,000Girish G.Vaidya5,310M.S.S.Prabhu3,000Mohansekhar4,800Satyendra Kumar3,000Rajiv Kuchal1,000Total options granted to senior management during the year48,97011.Employees holding 5%or more of the tot

215、al number of options granted during the year:NilLiquidityYour company continues to be adequately liquid and expects that this will help achieve its growth objectives.Enhancedliquidity reduces financial risk,and allows a rapid shift in direction should the market so demand.During the current year,int

216、ernal cash accruals have more than adequately covered working capital requirements,capital expenditure of Rs.463.35crore and dividend payments,and have resulted in a surplus of Rs.69.36 crore.As on March 31,2001,your company hadliquid assets of Rs.577.74 crore,as against Rs.508.37 crore at the previ

217、ous year-end.These funds have been invested bothin rupee and dollar deposits with banks and financial institutions.A high level of liquidity reduces return on shareholdersfunds.However,a balance between high returns on funds deployed in the business,and the ready availability of cash forstrategic de

218、cisions on growth will have to be maintained.The creation of physical and technological infrastructure isexpected to absorb a significant part of the liquid assets over the next three years.Research and education initiativesDuring the year,your company trained around 4,000 entrants as part of its in

219、duction-training program.Further,continuingeducation has been imparted,both in advanced technologies as well as in managerial skills.The total training imparted byyour company to its employees during the year aggregated about 2,50,000 person days.The Infosys Fellowship Program instituted by your com

220、pany at 12 premier academic institutions in India to supportresearch work leading to a Ph.D.has been well received,and the number of fellowships instituted in the areas of informationtechnology,management and law has been increased from 24 to 42.Professors,from reputed academic institutions in India

221、and abroad,visited your company during the year under the Infosys sabbatical program.These professors studied andadvised Infosys on practices in knowledge management(KM),training and project management.Your company spentaround 0.87%of its revenue on R&D activities during the year.28Your company sees

222、 knowledge management as a key imperative to help manage growth and stay competitive in the technologybusiness.A KM deployment architecture that addresses the four key dimensions of KM technology,people,content andprocess has been defined and implemented internally.A Knowledge Currency Unit mechanis

223、m has been defined as akey component to promote an internal knowledge sharing culture.Even as the KM movement is gaining momentum internally,your company has been playing the role of a catalyst in variousknowledge networks externally,by delivering invited talks,publishing in international journals,a

224、nd presenting at internationalconferences,among other initiatives.Dr Karl-Erik Sveiby,an internationally renowned expert in KM visited Infosys duringthe year and observed that,“Infosys is a KM pioneer in India and,when it comes to publishing its intangible assets in the AnnualReport,even one of the

225、pioneers in the world.The Infosys KM initiatives seem well-balanced;they are a blend of both IT and peopleinitiatives,and the KM Team at Infosys has a holistic understanding of KM.”Your company has also created extensive infrastructural facilities for education and research during the year,with thei

226、nauguration of a dedicated building of 1,15,000 sq.ft.along with state-of-the-art equipment.Infosys FoundationYour company is committed to contribute to its social milieu and,in 1998,established Infosys Foundation as a not-for-profit trust to support initiatives that benefit society-at-large.The Fou

227、ndation supports programs and organizations devotedto the cause of destitutes,rural poor,spastics,senior citizens and illiterates.It also helps preserve certain arts and culturalactivities of India which are under threat of fading out.Grants to the foundation during the year aggregated Rs.5.26 crore

228、,as compared to Rs.2.80 crore in the previous year.A summary of the work done by the Foundation appears in the Infosys Foundation section of this report.On your behalf,your directors express their gratitude to the honorary trustees of the Foundation for sparing their valuable time and energyfor the

229、activities of the Foundation.Community servicesYour company continued the social programs initiated in 1999-Catch Them Young,Rural Reach and Train the Trainer.Thethree programs covered about 800 urban children from 100 schools,2,000 children in rural schools(in five languages),and 90 engineering col

230、lege teachers from over about 60 colleges across the country,respectively,during the year.In addition,new programs included a summer internship program for computer science students from the IITs and a technologyworkshop for 35 engineering students from 17 colleges.Further,your company,through its C

231、omputersClassrooms initiative launched in January 1999,has donated 744 computersto 272 institutions across India.Your company has also applied to the relevant authorities for permission to donate anadditional 419 computers to 180 institutes in the near future.Microsoft continues to participate in th

232、is initiative by donatingthe relevant software and we would like to place on record our appreciation for its continued support.AwardsYour directors are happy to report on some of the awards that your company received during the year.GYour company was rated as the Best Employer of India by the Busine

233、ss Today-Hewitt Study,from among more than150 companies.GYour company became the first IT company to win the IMC Ramkrishna Bajaj National Quality Award in theservices category.GThe Far Eastern Economic Review rated your company as the No.1 company in India in the Review 2000,an annualsurvey of Asia

234、s leading companies.GYour company has been judged the Best Regional Software House by Financial Technology Asia.This awardacknowledges the most clever,creative and effective use of information technology in Asia,including Japan andAustralia.GFor the sixth year in succession,your company received the

235、 Silver Shield from the Institute of Chartered Accountantsof India for the Best Presented Accounts,among the entries received from non-financial,private sector companies,for the year 1999-2000.GThe Asiamoney poll of financial analysts voted your company the best in management among the listed compan

236、iesin India for the fifth time in a row.GThe BankAway product from Infosys won the CSI-Wipro Award for the Best Packaged Application in the year 2000.29Fixed depositsYour company has not accepted any fixed deposits and,as such,no amount of principal or interest was outstanding as ofthe balance sheet

237、 date.DirectorsDuring the year,your directors expanded the board and co-opted Prof.Jitendra Vir Singh,Dr.Omkar Goswami,Sen.LarryPressler,Ms.Rama Bijapurkar,Mr.T.V.Mohandas Pai,Mr.Srinath Batni and Mr.Phaneesh Murthy as additional directorsof the company.These appointments require the approval of the

238、 members at the ensuing Annual General Meeting.Mr.Susim M.Datta retired as a director of the company on May 27,2000.As per Article 122 of the Articles of Association,Mr.Ramesh Vangal,Prof.Marti G.Subrahmanyam,Mr.Deepak M.Satwalekar,Mr.S.Gopalakrishnan and Mr.S.D.Shibulalretire by rotation in the for

239、thcoming Annual General Meeting.All of them,being eligible,offer themselves for re-appointment.AuditorsThe auditors,Bharat S Raut&Co.Chartered Accountants,retire at the ensuing Annual General Meeting and have confirmedtheir eligibility and willingness to accept office,if re-appointed.FII investment

240、limitRecently,the Government of India has raised the investment limit in an Indian company for Foreign Institutional Investors(FII)from 40%to 49%,subject to the approval of the board of the investee company and a special resolution by theshareholders of such a company.Your directors are of the opini

241、on that it would be in the interest of the company to increasethe limit of such investment to 49%.The necessary resolutions are being placed before the members in the ensuing AnnualGeneral Meeting.Conservation of energy,research and development,technology absorption,foreign exchangeearnings and outg

242、oThe particulars as prescribed under subsection(1)(e)of section 217 of the Companies Act,1956,read with the Companies(Disclosure of particulars in the report of board of directors)Rules,1988,are set out in the annexure included in this report.Particulars of employeesAs required under the provisions

243、of section 217(2A)of the Companies Act,1956,read with the Companies(Particulars ofemployees)Rules,1975,as amended,the names and other particulars of employees are set out in the annexure included inthis report.AcknowledgmentsYour directors thank the companys clients,vendors,investors and bankers for

244、 their continued support during the year.Your directors place on record their appreciation of the contribution made by employees at all levels,who,through theircompetence,hard work,solidarity,cooperation and support,have enabled the company to achieve consistent growth.Your directors thank the Gover

245、nment of India,particularly the Department of Electronics;the Customs and Excisedepartments;the Software Technology Parks Bangalore,Chennai,Hyderabad,Mohali,Mysore,Pune,Bhubaneswar andNew Delhi;the Ministry of Commerce;the Ministry of Finance;the Reserve Bank of India;VSNL;the Department ofTelecommu

246、nications;the state governments;and other government agencies for their support,and look forward to theircontinued support in the future.For and on behalf of the board of directorsNandan M.NilekaniN.R.Narayana MurthyBangaloreManaging Director,PresidentChairmanApril 11,2001and Chief Operating Officer

247、and Chief Executive Officer30Annexures to the directors reporta)Particulars pursuant to Companies(Disclosure of particulars in the report of the board of directors)Rules,19881.Conservation of energyThe operations of your company are not energy-intensive.However,adequate measures have been taken to r

248、educeenergy consumption by using energy-efficient computers and by the purchase of energy-efficient equipment with thelatest technologies.Your company constantly evaluates new technologies and invests in them to make its infrastructuremore energy-efficient.Currently,your company uses CFL fittings an

249、d electronic ballast to reduce the power consumptionof fluorescent tubes.A building automation system to control the working of air conditioners and to make them moreenergy-efficient has been implemented.Energy-saving air conditioners have been purchased and scroll compressors arebeing used in place

250、 of reciprocating compressors for all packaged and split-type air conditioning systems.Energy-efficient pumps are used for the water system.As energy costs comprise a very small part of your companys totalexpenses,the financial impact of the these measures is not material.2.Research and development(

251、R&D)Research and development of new services,designs,frameworks,processes and methodologies continue to be ofimportance at Infosys.This allows your company to increase quality,productivity and customer satisfaction throughcontinuous innovation.a.R&D initiative at institutes of national importanceThi

252、s initiative has been described in the Research and education initiatives section in the directors report.b.Specific areas for R&D at InfosysSince businesses and technologies are changing constantly,continuous investments in research and development areof paramount importance.Your company has taken

253、the approach that its research must be beneficial to the companyand to its clients either in the short term or in the medium term.As in earlier years,your company continues toconduct research in the areas of software engineering,project management,global delivery,emerging technologies,and new tools

254、and techniques.Research has been continuing in the areas of software architecture and performance engineering.This is to helpprojects deliver high-performance and high-transaction volume software solutions to clients.Research has also beencontinued in object and component technologies to create modu

255、les that enable repeatability across projects.Your company continues to undertake research in the following areas:GGeneral software engineering:Your company is constantly improving its methodologies to increase quality andproductivity,and to reduce time-to-market for its clients.GNew technologies:A

256、methodology for performance-testing of web applications has been developed.GProducts:Your company continues to enhance and develop additional products in the Banking area.Your company has various groups engaged in R&D.The Education and Research(E&R)department conducts short-term and long-term resear

257、ch in the areas of knowledge management,education and training methodologies,andtechnology-based mechanisms for delivery of education.During the year,the E&R team published 49 papers inleading international/national journals and conferences.Further,an e-commerce research laboratory was establishedby

258、 the E&R department for building expertise and skill sets in e-commerce and web applications.A Web PerformanceTesting Center was also established.The Software Engineering and Technology Labs(SETLabs)tracks emerging technology trends in the short-term andlong-term as well as opportunities for innovat

259、ion in software development.SETLabs works on diverse areas including,business modeling,architecture definition,technology assessment,infrastructure and security consulting,mobilecomputing,object and component technology,and operating systems and environments,to name a few.Researchfindings in the sof

260、tware engineering area have been published in international journals and have been presented atseveral reputed forums.Built on this foundation of research is a set of cutting-edge consulting services that SETLabsprovides to your companys clients,and an extensive repository of technical knowledge and

261、 expertise that SETLabsuses to guide project teams to continually improve their quality and productivity.c.Benefits derived as a result of R&D activityYour company has been able to maintain margins despite changes in technology and increased personnel costs.Thee-commerce and the Web Performance Test

262、ing centers have been instrumental in building expertise in the e-commercearea.31d.Future plan of actionThere will be continued focus and increased investment in the above R&D activities.Future benefits are expected toflow in from initiatives undertaken this year.e.Expenditure on R&D for the year en

263、ded March 31in Rs.crore20012000Revenue expenditure14.978.08Capital expenditure2.140.15Total R&D expenditure17.118.23R&D expenditure as a percentage of total revenue0.87%0.89%3.Technology absorption,adaptation and innovationDuring the year,your company successfully migrated to a Windows 2000 backbone

264、.Further,your company madesignificant additions to the number of servers used for software development,and to the number of file and printservers.Your company also upgraded its mainframe system from the earlier S/390 9672/RA4 to the new H30,andstandardized the use of Pentium III 733 MHz system with

265、256 MB RAM and at least 10 GB hard disk space as thestandard desktop PC.Further,all personnel traveling frequently for official purposes are now given Pentium notebookcomputers.During the year,your company provided all its senior managers with productivity tools such as Palm Vx devices andmobile pho

266、nes.Your company also implemented a multi-point video-conferencing facility over IP,and implementedIP telephony over WAN and on LAN in one of the campuses.Further,your company has installed a 1.16TB StorageArea Network for hosting corporate data and applications.Your company further invested in midd

267、leware technologies,mobile technologies and legacy modernization technologies.Your company has set up laboratories and Centers of Excellence for technology research and competence building.Your company joined several Technical Standards organizations,and continues to be capable of providing totaltec

268、hnology solutions to its clients using new technologies and tools.4.Foreign exchange earnings and outgoa.Activities relating to exports,initiatives taken to increase exports,development of new exportmarkets for products and services,and export plansYour company has had a strong export focus in the p

269、ast,and expects its export thrust to continue in future.In fiscal2001,98.60%of software revenues were derived from exports.Over the years,your company has established asubstantial direct marketing network all over the world and now has marketing offices in North America,Europe andthe Asia Pacific re

270、gion.These offices are staffed with sales and marketing specialists who sell your companys servicesto large,international clients.During the year,your company opened marketing offices in Hong Kong,Sydney,Phoenix(Arizona),U.A.E.,Argentinaand Paris.It also set up development centers in London,Lisle,a

271、suburb of Chicago,Illinois;Berkeley Heights,NewJersey;and Phoenix,Arizona.Your company also launched a global initiative to increase the awareness of the Infosysbrand,and of its products and services.Several press and public relations exercises were launched in the US toenhance your companys visibil

272、ity.Further,your company plans to take part in several international exhibitions topromote its products and services.During the year,your companys Banking Business Unit won new clients in Nigeria,U.A.E and Mauritius.The long-term goal of your company is to be a highly respected name in the global ma

273、rket for its services andproducts,and to continue to realize a significant portion of its revenue from exports.b.Foreign exchange earned and used for the year ended March 31in Rs.crore20012000Foreign exchange earnings1,728.23851.72Foreign exchange outgo(including capital goods and imported software

274、packages)727.53336.58For and on behalf of the board of directorsNandan M.NilekaniN.R.Narayana MurthyBangaloreManaging Director,PresidentChairmanApril 11,2001and Chief Operating Officerand Chief Executive Officer32Sl.NameDesignationQualificationAgeDate ofExperienceGrossPrevious Employment Designation

275、No.(Years)Joining(Years)Remuneration(Rs.)1.Aashish BansalBusiness Development ManagerB.Tech.(IIT),PGD(IIM)3617.02.20001239,24,612HSBC Capital Markets India Pvt.Ltd.Senior Manager*2.Abudmar LouaySoftware DeveloperB.E.2821.08.200071,68,604Swiss Hotel Management IT Instructor*3.Akash MaitiSenior Associ

276、ateB.E.(H),M.A,PGD3005.07.2000632,25,000Andersen Consulting,Senior Consultant*4.Albena De AssisSoftware DeveloperB.Sc.2617.07.2000311,73,631Siemens Software Developer5.Alexandre Elvis RodriguesBusiness Development ManagerB.Tech.,MBA3003.08.1998739,42,094Modi Xerox,Production Sales Manager6.Ameer Sai

277、thuAssociateB.Tech.,PGD2827.03.200058,00,929PricewaterhouseCoopers,Consultant*7.Amer Yosra AbdulSoftware DeveloperB.Sc.(H)2321.08.200019,26,6528.Amitabh Pushparaj MudaliarAssociateB.E.,PGD(IIM)2920.03.2000620,90,570PricewaterhouseCoopers,Consultant*9.Amy(Yuen Chun)WongSoftware DeveloperB.Sc.2322.01.

278、200119,17,414Hewitt Associates,Quality Assurance Analyst10.Ananda RaoBusiness Development ManagerB.E.,M.Sc.4225.10.19991437,45,019SE IT Technologies Regional General Manager*11.Anant NatekarSenior Systems AnalystB.E.2509.02.200133,55,587Fourth Technologies Inc,Consultant12.Andi BerkowitzSales Admini

279、stratorB.A.,ASL4812.04.19991119,22,340Newton Wellesley Chinopractic,Office Manager*13.Andreas SuweProject LeaderB.Laws,Diploma3405.03.200173,49,485Tucows Inc.Project Manager*14.Anil RoySenior Systems AnalystB.E.2619.02.200143,29,681Air Check Virginia,Database Administrator*15.Anilkumar NechiyilProje

280、ct ManagerB.Sc.4003.01.20011811,34,684First Data Merchant Services,Project Technical Leader*16.Ankur GuptaBusiness Development ManagerB.A.(H),PGD,ACA2817.07.2000613,54,975Arthur Andersen India Pvt.Ltd.,Senior Consultant17.Ankush PatelBusiness Development ManagerB.E.,MBA3301.10.1999956,93,010Nortel N

281、etworks,Account Manager*18.Anthony De LaatDelivery ManagerB.A.,M.Sc.,B.Sc.Engg4412.03.2001195,06,510Oao Technologies Canada Delivery Director*19.Anupam BhatnagarBusiness Development ManagerB.A.(H),LLB,PGD2903.08.200045,66,129Arthur Andersen,Consultant*20.Arindom BasuSenior PrincipalB.E.(H),PGD(IIM)3

282、405.02.2001109,51,974Andersen Consulting Senior Manager*21.Arjun K.RaoSoftware DeveloperB.E.,MS2422.01.200119,17,414Recruitmentindia.Com,Webmaster/Technical Lead*22.Aroun BalakrishnanSenior Systems AnalystB.Tech.2705.03.200152,09,764Blockbuster Inc.,Senior Programmer Analyst23.Arun Kumar R.Business

283、Development ManagerB.Tech.,PGD3005.06.1999851,05,674Nokia Private Limited,Sales Manager West&South India*24.Ashish PanditaSoftware DeveloperB.E.2727.11.200036,21,445Robert Bosch India Ltd.Software Developer25.Ashok VemuriBusiness Development ManagerB.Sc.(H).,PGD3201.10.1999964,57,918Bank Of America,

284、Assistant Vice President26.Ayan ChatterjeeBusiness Development ManagerB.A.(H),PGD2902.11.1998869,72,586Andersen Consulting,Consultant*27.Balaji YellavalliSenior PrincipalB.Tech.,PGD3218.09.2000116,77,625Feedback Ventures Ltd.,Chief Executive Officer28.Balakrishna D.R.Assistant Project ManagerB.E.290

285、7.02.1994719,04,450HCL-HP Customer Relations29.Balakrishnan P.R.Business Development ManagerB.Tech.,MBA2815.11.1999640,98,994Arthur Andersen,Senior Consultant30.Balasubramanian P.Senior Vice PresidentB.Tech.(IIT),M.Tech.(IIT),5101.10.19952815,64,794Hitek Software Engineers Ltd.CEO/Technical Director

286、PhD(Purdue)*31.Balasundaram GajendranSoftware DeveloperB.Sc.2621.08.200039,15,681Queens University Student Software Engineer32.Balu A.Assistant Project ManagerB.E.,Diploma2907.11.19941119,37,788Adarsha Polytechnic Teacher33.Bartley Richard HigginsBusiness Development ManagerB.A.(H),M.A5220.02.199714

287、65,63,082Wireless Software,Developer34.Basab PradhanRegional Manager&Vice President B.Tech.,PGD3503.10.19941284,33,946Lipton India Ltd.,ManagerSales West North America*35.Biji P.ThomasAssociateB.E.,PGD2624.04.200046,31,855Andersen Consulting,Senior Consultant*36.Bindu Ajay BadolaSenior Consultant(ER

288、P)B.E.3109.10.2000911,76,367Tata Infotech Ltd.Systems Specialist*37.Brit LaneSoftware DeveloperB.Sc.2408.05.2000213,67,489Tha Cain Gang Ltd.Developer*38.Bryan MallinsonSoftware DeveloperBBM2415.01.200104,48,374*39.BuuQuang KhaSoftware DeveloperB.Sc.2315.01.200104,15,73540.Chandra Shekar KakalAssocia

289、te Vice PresidentB.E.,MBA4001.03.19991812,62,452Ramco Systems Product Manager*41.Cheng“Sean”SixinSoftware DeveloperB.Sc.,M.Sc.,Diploma3208.05.200074,28,499Tian Tian Furniture Manufacture Engineer*42.Chi Tat WongSoftware DeveloperB.E.2520.11.200025,59,723The Peer Group Software DeveloperAnnexures to

290、the directors reportb)Information as per Section 217(2A)of the Companies Act,1956,read with the Companies(Particulars of employees)Rules,1975,and forming part ofthe directors report for the year ended March 31,200133Sl.NameDesignationQualificationAgeDate ofExperienceGrossPrevious Employment Designat

291、ionNo.(Years)Joining(Years)Remuneration(Rs.)*43.Craig Daniel DeDeckerSoftware DeveloperBBA2222.01.200129,17,414Economy Advertising,System Admin Intern*44.Cynthia AtayanAdministrative AssistantSSLC2501.06.2000210,33,624Cisco Systems Customer Service Quality Specialist*45.David SpencerPrincipalB.A.,B.

292、Sc.,MBA3618.09.20001534,35,405Spherion,Senior Manager46.Dean E.WhitesideContract AdministratorB.A.3526.05.1998727,56,041Bank Of America,Systems Administrator47.Debjit Datta ChaudhuriBusiness Development ManagerB.Sc.(H).,PGD(IIM)2813.10.1998750,11,050Wipro Finance Ltd Officer*48.Deepak RaoSenior Prin

293、cipalB.Tech.(IIT),PGD(IIM)3701.02.20011511,53,908KPMG Consulting Executive Consultant*49.Deepak SundarrajanSenior Systems AnalystB.E.2819.02.200163,27,301Humana Inc.,Designer50.Dinesh KrishnaswamyDirectorB.Sc.,M.Sc.4601.09.19812516,19,457Patni Computer Systems Pvt.Ltd.Senior Software Engineer*51.Dun

294、can ZhangSoftware DeveloperB.Tech.2408.05.2000113,96,785*52.Easaw Pallipeedikayil EasawBusiness Development ManagerB.E.,PGD(IIM)3107.04.2000730,01,375Apex Systems Senior Marketing Executive*53.Eric SeubertSenior PrincipalB.Sc.,MBA3428.08.20001134,32,750Interim Technology Consulting,Director,E-Busine

295、ss Practice*54.Gaurav GargProject ManagerB.E.2830.01.200167,24,493Polaris Software Lab(India)Ltd.,Consultant(System Manager)*55.Gautam P.ThakkarPrincipalB.Sc.3217.07.2000117,69,211Andersen Consulting,Manager56.George VargheseBusiness Development ManagerB.Com.3326.09.19961066,22,825Hitachi Systems Ad

296、ministrator*57.Gigi(Chiao Chih)TsangSoftware DeveloperB.Sc.(H).2215.01.200104,15,73558.Girish Anant PashilkarSenior AssociateB.Tech.(IIT),PGD(IIM)2920.03.2000734,73,672Arthur Andersen Senior consultant59.Girish G.VaidyaSenior Vice PresidentB.E.,PGD(IIM)5022.01.19992616,27,764ANZ Grindlays Bank Ltd.H

297、ead&Director Operations*60.Girish M.AswathanarayanaProject ManagerB.Tech.,MS3105.03.200172,65,558G.A.Sullivan,Senior Consultant*61.Glen MichaelSoftware DeveloperB.Sc.2421.08.200029,26,530Industry Canada Support Analyst62.Gopal DevanahalliBusiness Development ManagerM.Sc.(Tech),PGD3201.10.1999949,35,

298、775Ford Credit Kotak Mahindra Ltd.,Regional Manager63.Gopalakrishnan S.Deputy Managing DirectorB.Sc.,M.Tech.(IIT)4501.02.19812114,98,189Software Sourcing Co.V.P.Technical Group64.Gopinath SutarSenior PrincipalB.Tech.,PGD3401.10.19991266,97,570A.T.Kearney,Manager*65.Goseng Kelvin LieSoftware Develope

299、rB.Sc.(H).2421.08.200019,15,68166.Guhan KumaranAssistant Project ManagerB.E.(H)2626.06.1995613,95,84367.Hariharan S.MurthyRegional Manager&B.E.,PGD3601.09.19941382,83,759Redington Pvt Ltd,Marketing ManagerAssociate Vice President Sales Communication&Product Services*68.Helen KimSystems AnalystB.A.,M

300、ED2405.07.2000117,64,067Elite Educational Institute,Admin Assistant69.Henri MabilleSenior PrincipalDiploma4801.03.20002445,43,165Sia Sa Group Financial Director Group*70.Hoi tung(Harry)CheungSoftware DeveloperBcom.,B.Sc.(H)2405.06.2000413,60,560The Muses Arts&Recreation Center Web Manager*71.Ivan H.

301、BrockProject LeaderB.Sc.,PhD3612.02.200173,40,307Escom Software Services Development Manager*72.Jagdish Natarajan IyerBusiness Development ManagerB.E.(H),PGD(IIM)2915.11.199969,47,439Reuters India Ltd.Head Client Solutions*73.Jahir HussainProject ManagerB.Sc.,M.Sc.3129.01.200176,56,533Complete Busin

302、ess Solutions Inc,Manager*74.Jaime Salvador ArguelloSoftware DeveloperB.Sc.Engg,2322.01.200139,17,414Washington University,Web Master75.Jan DeSmetVice President BBA,MBA4104.01.1999171,01,95,268Diamond Technology Partners,Senior PrincipalInfosys Business Consulting Services*76.Jayaram G.K.Head Infosy

303、s Leadership InstituteB.Sc.,B.E.,PGD(IIM),PhD6005.01.2001303,51,339Transformation Systems Inc.Chairman77.Jayashree R.PrincipalB.Sc.(H),M.Sc.(IIT),M.Tech.(IIT),3701.10.19991123,71,115Schoolnet India Ltd.Vice PresidentPGD(IIM)*78.Jenifer K.AdkinsSales AdministratorDiploma3426.06.20001614,68,439Credit

304、Lyonnais,Executive Assistant/Office Manager*79.Jennifer La Vonne DeanAdministrative AssistantB.Sc.,Master of Public Adminstration 2624.04.2000314,81,789Oakland Ready To Learn,Project Administrator*80.Jessica M.ChisholmAdministrative AssistantB.A.2314.02.200122,57,456Linotext America Inc.,Account Man

305、ager81.Jitin GoyalBusiness Development ManagerB.E.,PGD(IIM)3021.12.1998759,95,432Citi Bank Manager*82.John O.FogartyBusiness Development ManagerB.A.,MBA3020.02.200183,47,074Morgan Stanley Dean Witter,Vice President Financial Advisor*83.Jonathan MastertonSenior Systems AnalystB.Sc.(H)2724.07.2000214,

306、16,235Logica UK Ltd.Team Leader84.Judith Ann OndinaAdministrative AssistantB.A.5216.07.19991715,42,678Sprint,Human Resource Co-ordinator*85.Junqian(Tim)WuSoftware DeveloperB.Sc.3508.05.200067,26,230The Hospital for Sick Children Research Specialist of Genetics86.Kala SwaminathanBusiness Development

307、ManagerB.Sc.3227.01.19991048,98,976Parametric Technology Corporation,Regional Manager*87.Kalyana C.GangavarapuProgram ManagerB.Tech.,PhD(Insead)3112.12.2000103,95,291Oracle Corp.Practice Director88.Karen J.HuttonSales ManagerB.A.4005.01.19981837,24,213Feist&Hutton,Senior Consultant*89.Ken WongSoftwa

308、re DeveloperB.Sc.2315.01.200104,15,73534Sl.NameDesignationQualificationAgeDate ofExperienceGrossPrevious Employment DesignationNo.(Years)Joining(Years)Remuneration(Rs.)90.Krishna N.V.Business Development ManagerB.E.,PGD(XLRI)3120.10.1999848,38,969Hindustan Lever Limited Area Sales Manager91.Kshitij

309、KumarAssistant Project ManagerB.Tech.2827.06.1994719,48,789*92.Kumail JafferSoftware developerBCS2615.01.200104,15,735*93.Laura Beth RehrigSoftware DeveloperB.Sc.2222.01.200139,17,414PIL Inc,Cooperative Associate*94.Li John KamingSoftware DeveloperB.Sc.(H),Diploma2621.08.200029,26,621York Chinese Ch

310、ristian Fellowship Secretary*95.Lin QuanSoftware DeveloperB.E.3021.08.2000610,83,343Infotech Consulting Co.Java Developer*96.Lo SzekitSoftware DeveloperB.Sc.,MS2721.08.200039,66,979Philips Electronics-Advance Transformer Design Engineer II97.Lokesh PrasadBusiness Development ManagerB.Tech.(H),PGD270

311、4.05.1998341,65,22398.Madhav MohanBusiness Development ManagerB.Sc.,MMS3101.10.1999967,72,245Bank of America AVP&Regional Sales Manager99.Mahesh DesaiBusiness Development ManagerB.E.,PGD(IIM)2803.06.1996634,45,681Pertech Computers Ltd Marketing Manager*100.Mahitha KrishnanSoftware DeveloperB.Sc.,MCA

312、2315.01.200114,29,684Samtech Inc.Programmer/Consultant*101.Maki IshibashiCoordinatorDiploma2713.07.2000514,00,180Tokyo Executive Center Inc.Secretary*102.Mangos ConstantineSoftware DeveloperB.Com.,B.A2321.08.200029,37,440Spectrum United Mutual Funds Accounts Administrator*103.Manish GoyalSenior syst

313、ems analystB.E.2827.11.2000610,10,976Elc Systems Consultant*104.Manish VermaBusiness Development ManagerB.Tech.,MBA3209.12.1999940,18,728Hindustan Lever Ltd.,Senior Product Manager*105.Manish Kumar SinhaAssociateB.Tech.(IIT),PGD(IIM)2701.02.200042,24,273Mckinsey&Company,Inc.Associate106.Mary Ann Ush

314、erSales AdministratorB.A.4521.06.19991618,76,769Racal Datacon Inc,Sales Support Representative*107.Mcewan Jason RichardSoftware developerB.Sc.2321.08.200049,37,471Information Technology Services Network Consultant*108.Meg TiedemannSales AdministratorM.A.4606.11.2000147,92,637Kluwer Academic Publishe

315、rs,Marketing Associate*109.Merlyn LeeBusiness development ManagerB.E.,M.Sc.4805.03.2001222,45,154Tata Engineering Company Trainee Engineer&Production Engineer110.Mohandas Pai T.V.Director&CFOB.Com.,LLB,FCA4217.10.19942113,61,112Prakash Leasing Limited Executive Director111.Nachiket Vibhakar Sukhtank

316、ar Business development ManagerB.A.,B.Sc.,M.A3229.11.1999744,47,105Andersen Consulting,Manager112.Nagarajan VenkateswaranAssociate Vice PresidentB.Tech.,MS4017.04.20001847,95,003Synthel Inc,Troy,Michigan,Delivery Manager*113.Nanaz RohaniSales AdministratorB.Sc.2726.07.2000514,37,099Stanford Universi

317、ty,Academic Affairs Co-Ordinator114.Nandan M.NilekaniManaging Director,President&COOB.Tech.(IIT)4501.07.19812316,16,021Patni Computer Systems Pvt.Ltd.Asst.Project Manager*115.Naomi GrossackSales AdministratorBBM2626.06.2000515,24,507Communications Collaborative,Contractor116.Narayana Murthy N.R.Chai

318、rman&CEOB.E.,M.Tech.(IIT)5418.03.19823214,97,390Patni Computer Systems Pvt.Ltd.Head Software Group*117.Natarajan B.Business Development ManagerB.Tech.,PGD2715.05.2000513,80,149Arthur Andersen India Pvt.Ltd.,Senior Consultant118.Neelesh MarikBusiness Development ManagerB.Tech.(IIT),PGD(IIM)3315.11.19

319、99945,33,329Andersen Consulting Manager*119.Neeraj DubeySoftware DeveloperB.E.(H)3420.11.2000137,00,003Cit Canada Inc Consultant*120.Neeraj KumarSenior Systems AnalystB.E.2606.01.199742,78,556TELCO Trainee121.Norman SchutzBusiness Development ManagerB.Com.4421.01.19982033,53,172Ikon Technologies Ser

320、vices Vice President(Business Development)*122.Olga ShnaiderSoftware DeveloperB.A.(H)3015.01.200144,15,735Future Shop Ltd.Computer Sales Specialist*123.Omar DominguezSoftware DeveloperB.Sc.2704.07.2000412,16,481Electronic Data Systems Information Analyst Associate124.Owhen AstorgaAdministrative Assi

321、stantB.A.,Diploma3718.06.19991820,82,535Palex,Inc.,Payroll Administrator*125.Padmanabhan VenkataramanAssociate Vice PresidentB.E.,M.E.4605.03.2001221,12,816Delphi Automotive Systems Vice President Software Operations*126.Palachandra SeetharamTechnical ArchitectB.E.3231.07.20001016,49,903CAP Gemini A

322、merica Senior Consultant*127.Paul MaillardSoftware DeveloperB.Sc.(H)2618.09.200049,42,485Contax Inc Junior Business Consultant*128.Pendse Mayur ArvindSoftware DeveloperB.Sc.2321.08.200059,15,590Mainline Foods/Dairy Queen Night Supervisor*129.Peter James MitchellBusiness Development ManagerPUC3107.08

323、.2000815,54,107Webnax.Com Au.Pty.Ltd.Business Manager&Sales Manager130.Phaneesh MurthyDirector Sales&Marketing andB.Tech.,PGD3708.10.1992141,90,93,935Sonata Software,Regional ManagerCommunication&Product Services131.Prabhu M.S.S.Senior Vice PresidentB.E.,PhD(IISc)5301.08.19972713,44,242Tata Consulta

324、ncy Services Vice President132.Pradeep PrabhuBusiness Development ManagerB.Com.3204.11.19911151,27,430Saxena Software Consultants,Senior Executive*133.Pramod V.PonksheProject ManagerB.E.3611.01.20011610,65,160Foxboro Japan Corporation Project ManagerAnnexures to the directors report(contd.)35Sl.Name

325、DesignationQualificationAgeDate ofExperienceGrossPrevious Employment DesignationNo.(Years)Joining(Years)Remuneration(Rs.)134.Prasad T.P.Regional Manager&B.E.,PGD3604.09.19951268,72,670Wipro Infotech,Regional Sales ManagerAssociate Vice President Sales South North America135.Praveen KumarSenior Assoc

326、iateB.E.,MS,PhD(Cambridge Univ.)3331.01.2000649,90,719Andersen Consulting Manager*136.Raghunath BasavanahalliBusiness Development ManagerBS in Engg3409.03.2001132,18,170HCL Technologies America Inc.,Account Manager137.Rahul Madhav GodboleBusiness Development ManagerB.A.,M.A.,MBA3515.11.19991043,34,6

327、63Infrastructure Leasing&Financial Services Ltd.,Senior Manager138.Rajeev MinochaBusiness Development ManagerB.E.,PGD3626.08.19991346,93,027Prefetti India Limited,Managing Director*139.Rajeswari PalaniappanProject ManagerB.Sc.,MCA3401.08.20001224,15,042Complete Business Solutions Inc.Manager140.Ravi

328、 Kumar ShelvankarBusiness Development ManagerB.E.,MS3202.01.1997866,69,803ITW Signode Ltd,Senior Executive,Sales*141.Read Hugh GordenSoftware DeveloperB.Sc.2421.08.200019,37,562*142.Reka K.MaximovitchExecutive AssistantB.A.,MPA3018.10.1999816,96,236Champion Nutrition Administrator/Project Manager143

329、.Ribhu KansalSenior Systems AnalystB.E.,PGD(IIM)2710.05.1999417,93,952NIIT Ltd.Senior Systems Associate144.Ritesh Mohan IdnaniBusiness Development ManagerB.Com.,MBA2801.10.1999658,20,632PricewaterhouseCoopers,Senior Consultant*145.Roitman EvgueniSoftware DeveloperB.Sc.2421.08.200039,15,681Levitronic

330、s Corp.Analyst*146.Romit DeyBusiness Development ManagerB.Sc.,MBA2903.10.200072,82,264PricewaterhouseCoopers,Principal Consultant*147.Ryan D.HillSoftware DeveloperBBA2322.01.2001028,881*148.Sam ChanSoftware DeveloperB.Sc.2415.01.200104,15,735*149.Sam HoSoftware DeveloperB.Sc.(H)2606.11.200047,50,116

331、Aim Funds Management Inc.Senior Software Developer150.Samir AgrawalAssociateB.Tech.,PGD2924.03.2000622,06,984A.T.Kearney,Associate*151.Samir BaliSenior PrincipalB.A.(H),LLB,PGD3628.08.2000125,64,481Coopers Lybrand,Principal Consultant*152.Sandeep ChadhaProject ManagerB.Tech.3315.02.2001135,90,936Loc

332、kheed Martin Ims,Project Leader153.Sandeep KaujalgiBusiness Development ManagerB.E.,MMS3017.05.1999729,93,175SISL Head,Transportation Solutions Business*154.Sanjay DalwaniBusiness Development ManagerB.E.,PGD3308.12.20001110,58,019HCL Technologies America,Inc,Account Manager155.Sanjay DuttBusiness De

333、velopment ManagerB.Tech.(H),PGD3220.12.19991040,91,838A.T.Kearney Limited,Manager-Strategy&Re-Engg.*156.Sanjay JalonaSenior Project ManagerM.Sc.(Tech)3215.12.2000113,60,151Gemplus India Pvt.Ltd.Director*157.Sanjay MohanPrincipalB.Sc.,PGD(IIM),M.E(IISc)3330.10.2000721,36,867Cap Gemini America,Inc.Principal Consultant*158.Sanjay PurohitSenior Manager(Quality)B.E.3427.12.2000113,06,634Tata Quality Ma