{"url_path":"/sec/infy/10-k/2026/item-8","section_key":"item-8","section_title":"Item 8 Financial Information","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-06-15","source_url":"https://www.sec.gov/Archives/edgar/data/1067491/0001193125-26-270520-index.html","accession_number":"0001193125-26-270520","cik":"0001067491","ticker":"INFY","issuer_name":"Infosys Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1067491/0001193125-26-270520-index.html","primary_entity_key":"0001067491","primary_entity_name":"Infosys Ltd"},"word_count":624,"has_tables":true,"body_markdown":"Item 8. Financial Information\n\nCONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION\n\nThe following financial statements and auditors’ report appear under Item 18 in this Annual Report on Form 20-F and are incorporated herein by reference:\n\n▪\nReport of Independent Registered Public Accounting Firm.\n\n▪\nConsolidated Balance Sheet as of March 31, 2026, and 2025.\n\n▪\nConsolidated statements of comprehensive income for the years ended March 31, 2026, 2025 and 2024.\n\n▪\nConsolidated statements of changes in equity for the years ended March 31, 2026, 2025 and 2024.\n\n▪\nConsolidated statements of cash flows for the years ended March 31, 2026, 2025 and 2024.\n\n▪\nNotes to the consolidated financial statements.\n\nExport revenues\n\nFor fiscal 2026, 2025 and 2024, we generated $19,582 million, $18,684 million and $18,093 million, or 97.1%, 96.9% and 97.5% of our total revenues of $20,158 million, $19,277 million and $18,562 million, respectively, from the export of our products and rendering of services outside of India.\n\nLegal proceedings\n\nThis information is set forth under Item 4 under the heading “Legal proceedings” and such information is incorporated herein by reference.\n\nCapital allocation policy\n\nThe Company’s capital allocation policy effective fiscal 2020 was to pay approximately 85% of the free cash flow* cumulatively over a 5-year period through a combination of semi-annual dividends and/or share buyback and/or special dividends, subject to applicable laws and requisite approvals, if any.\n\nEffective from fiscal 2025, the Company expects to continue its policy of returning approximately 85% of the free cash flow* cumulatively over a 5-year period through a combination of semi-annual dividends and/or share buyback/ special dividends subject to applicable laws and requisite approvals, if any. Under this policy, the Company expects to progressively increase its annual dividend per share (excluding special dividend if any).\n\n \n\n*Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the consolidated statement of cash flows prepared under IFRS. Dividend and buyback include applicable taxes.\n\n \n\nDividends\n\nUnder Indian law, a corporation pays dividends upon a recommendation by the Board and approval by a majority of the shareholders, who have the right to decrease but not increase the amount of the dividend recommended by the Board. Dividends may be paid out of profits of an Indian company, after providing depreciation in the year in which the dividend is declared or out of the undistributed profits of previous fiscal years, or out of both. However, the declaration of interim dividend by a Company only requires the approval of the Board under Indian law.\n\nHolders of ADSs will be entitled to receive dividends payable on equity shares represented by such ADSs. Cash dividends on equity shares represented by ADSs are paid to the Depositary in Indian rupees and are generally converted by the Depositary into U.S. dollars and distributed, net of Depositary fees, taxes, if any, and expenses, to the holders of such ADSs. Although we have no current intention to discontinue dividend payments, future dividends may not be declared or paid and the amount, if any, thereof may be decreased.\n\nDividend Distribution Policy\n\nAs per Regulation 43A of the SEBI LODR the top 500 listed companies shall formulate a dividend distribution policy. Accordingly, the policy was adopted to set out the parameters and circumstances that will be taken into account by the Board in determining the distribution of dividend to its shareholders and / or retaining profits earned by the Company. The dividend policy is filed as an exhibit to this Annual Report on Form 20-F. The policy is available on our website: https://www.infosys.com/investors/corporate-governance/Pages/policies.aspx\n\nRefer to Note 2.15 ‘Equity’ in Item 18 of this Annual Report for details on buyback completed and dividend recognized by the Company during the three years ending March 31, 2026.\n\nSIGNIFICANT CHANGES\n\nNone."}