NAVIGATE YOUR NEXTTM Subsidiaries Report 2017-18 This page is left blank intentionally CONTENTS Infosys BPM Limited . 1 EdgeVerve Systems Limited . 41 Infosys Public Services, Inc . 73 Infosys Technologies(China) Co . Limited . 87 Infosys McCamish Systems LLC . 109 Infy Consulting Company Limited . 127 Infosys Consulting GmbH . 143 Infosys Poland SP . Z O.O.. 151 Infosys Consulting AG . 173 Infosys Technologies (Shanghai) Company Limited . 179 Infosys Technologia DO Brasil LTDA . .201 Infosys Technologies S . de R . L . de C . V . 219 Panaya Ltd . 233 Kallidus Inc . 241 Infosys Technologies (Australia)Pty . Limited . .. 259 Infosys Consulting LTDA . 271 Lodestone Management Consultants Co ., Ltd . 291 Infosys Consulting SP . Z O .O . 311 Panaya Inc . 335 Infosys Technologies (Sweden) AB . 351 Portland Group Pty . Limited . 361 Infosys (Czech Republic) Limited s .r .o . 377 Infosys Consulting Pte Ltd . 395 Infy Consulting B .V . 411 Skava Systems Pvt . Ltd . .. 429 Brilliant Basics Limited . 455 Panaya GmbH . .. 469 Infosys Consulting S .R .L . 485 Infosys Consulting (Belgium) NV . 505 S .C . Infosys Consulting S .R .L . 523 Lodestone Management Consultants Portugal, Unipessoal, Lda . 539 Lodestone Management Consultants Inc . 555 Panaya Japan Co . Ltd . 573 Infosys Consulting s .r .o . 589 Brilliant Basics (MENA) DMCC . 605 Infosys Management Consulting Pty . Limited . 615 Infosys Nova Holdings LLC (Infosys Nova) . 633 Brilliant Basics Holdings Limited . 643 Infosys Consulting Holding AG . 655 Lodestone Management Consultants GmbH . 663 Infosys BPO Americas LLC . 679 Infosys Americas Inc . 687 Infosys Consulting SAS . 701 INFOSYS BPM LIMITED (formerly Infosys BPO Limited) Independent auditors’ report An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the (formerly known as Infosys BPO limited) standalone financial statements. The procedures selected To the members of Infosys BPM Limited depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the standalone Report on the standalone financial statements financial statements, whether due to fraud or error. In We have audited the accompanying standalone financial making those risk assessments, the auditor considers internal statements of Infosys BPM limited (‘the Company’), which financial control relevant to the Company’s preparation of comprise the Balance Sheet as at March 31, 2018, and the the standalone financial statements that give a true and fair Statement of Profit and Loss (including Other Comprehensive view in order to design audit procedures that are appropriate Income), the Statement of Changes in Equity and the in the circumstances. An audit also includes evaluating the Statement of Cash Flows for the year then ended and a appropriateness of the accounting policies used and the summary of the significant accounting policies and other reasonableness of the accounting estimates made by the explanatory information. Company’s Board of Directors, as well as evaluating the overall presentation of the standalone financial statements. Management’s responsibility for the standalone We believe that the audit evidence obtained by us is sufficient financial statements and appropriate to provide a basis for our audit opinion on The Company’s Board of Directors is responsible for the the standalone financial statements. matters stated in Section 134(5) of the Companies Act, 2013 (‘the Act’) with respect to the preparation of these standalone Opinion financial statements that give a true and fair view of the In our opinion and to the best of our information and financial position, financial performance including other according to the explanations given to us, the aforesaid comprehensive income, cash flows and changes in equity standalone financial statements give the information required of the Company in accordance with the Indian Accounting by the Act in the manner so required and give a true and fair Standards (Ind AS) prescribed under Section 133 of the Act, view in conformity with the accounting principles generally read with the Companies (Indian Accounting Standards) accepted in India, of the state of affairs of the Company Rules, 2015, as amended, and other accounting principles as at March 31, 2018, and its profit, total comprehensive generally accepted in India. income, the changes in equity and its cash flows for the This responsibility also includes maintenance of adequate year ended on that date. accounting records in accordance with the provisions of Report on Other Legal and Regulatory Requirements the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; 1. As required by Section 143(3) of the Act, based selection and application of appropriate accounting policies; on our audit we report that: making judgments and estimates that are reasonable and a) we have sought and obtained all the information and prudent; and design, implementation and maintenance of explanations which to the best of our knowledge and belief adequate internal financial controls, that were operating were necessary for the purposes of our audit. effectively for ensuring the accuracy and completeness of b) in our opinion, proper books of account as required by the accounting records, relevant to the preparation and law have been kept by the Company so far as it appears from presentation of the standalone financial statements that give our examination of those books. a true and fair view and are free from material misstatement, c) the Balance Sheet, the Statement of Profit and Loss including whether due to fraud or error. Other Comprehensive Income, Statement of Changes in Auditors’ responsibility Equity and the Statement of Cash Flow dealt with by this Report are in agreement with the books of account. Our responsibility is to express an opinion on these standalone financial statements based on our audit. d) the aforesaid standalone financial statements comply with the Indian Accounting Standards prescribed under In conducting our audit, we have taken into account Section 133 of the Act. the provisions of the Act, the accounting and auditing standards and matters which are required to be included e) on the basis of the written representations received from in the audit report under the provisions of the Act and the directors as on March 31, 2018 taken on record by the the Rules made thereunder and the Order issued under Board of Directors, none of the directors is disqualified as on Section 143(11) of the Act. March 31, 2018 from being appointed as a director in terms of Section 164(2) of the Act. We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing f) with respect to the adequacy of the internal financial specified under Section 143(10) of the Act. Those Standards controls over financial reporting of the Company and the require that we comply with ethical requirements and plan operating effectiveness of such controls, refer to our separate and perform the audit to obtain reasonable assurance about Report in ‘Annexure A’. Our report expresses a unmodified whether the standalone financial statements are free from opinion on the adequacy and operating effectiveness of the material misstatement. Company’s internal financial controls over financial reporting. 2 | Infosys BPM Limited Infosys Subsidiary Financials 2017-18 g) with respect to the other matters to be included in of frauds and errors, the accuracy and completeness of the the Auditors’ Report in accordance with Rule 11 of the accounting records, and the timely preparation of reliable Companies (Audit and Auditors) Rules, 2014, as amended, in financial information, as required under the Act. our opinion and to the best of our information and according Auditors’ responsibility to the explanations given to us: Our responsibility is to express an opinion on the internal i. The Company has disclosed the impact of pending litigations financial controls over financial reporting of the Company on its financial position in its standalone financial statements. based on our audit. We conducted our audit in accordance ii. The Company has made provision, as required under with the Guidance Note issued by the Institute of Chartered the applicable law or accounting standards, for material Accountants of India and the Standards on Auditing foreseeable losses, if any, on long-term contracts including prescribed under Section 143(10) of the Act, to the extent derivative contracts. applicable to an audit of internal financial controls. Those iii. There were not amounts which were required to be Standards and the Guidance Note require that we comply transferred to the Investor Education and Protection with ethical requirements and plan and perform the audit to Fund by the Company. obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established 2. As required by the Companies (Auditors’ and maintained and if such controls operated effectively in Report) Order, 2016 (‘the Order’) issued by the all material respects. central government in terms of Section 143(11) Our audit involves performing procedures to obtain audit of the Act, we give in ‘Annexure B’ a statement evidence about the adequacy of the internal financial on the matters specified in paragraphs 3 and controls system over financial reporting and their operating 4 of the Order. effectiveness. Our audit of internal financial controls