Infinite investor presentation March 2013

March 2013

Copyright Infinite; 2013
1
Infinite Computer Solutions (India) Limited

Company Profile:
• Overview • Leadership Team • Major Customers
• Recognitions • Management Profiles • Service Offerings
• Journey • Global Presence • Differentiators

Market Positioning:
• Application Management Services • Product Engineering Solutions
• Infrastructure Management Services • Mobility & Messaging

Financial Overview
Our Future – Infinite 2.0
2 Copyright Infinite; 2013 Infinite Computer Solutions (India) Limited

Our Revenue Award & Recognitions
FY 2012 : US$ 221M | EBITDA: 17.4%
4 Year Revenue CAGR at 27% EBITA CAGR at 47%

Our Presence
16 Offices | 7 Delivery Centers
Bangalore, Boston, Chennai, Hyderabad, New Delhi, Rockville, Chicago

Our Customers
64 Active Customers,
Long Standing Relationships with Fortune 1000
Companies

Our People
4655 Employees worldwide, 3200 in India


2012-13
NASSCOM Ranks Infinite amongst top 20 players in IT Services.
Launched Messaging product suite for the US public safety market, RCS & EMS
Named Finalists in Network Products Guide’s 2012 Hot Companies and Best
Products Awards | Finalist in the CTIA Emerging Technology Awards 2012.
2009-10 | $141 Million
Listed on BSE & NSE
Signed a strategic agreement for Messaging Platform with a Large Telecom OEM |
Signed a strategic partnership deal with Global Tech-Support Provider | Won bid
for Uttrakhand R-APDRP | Acquired yet another Indian Textile Company as client
2007-08 | $85 Million
Acquired Comnet International, a US-based Telecom Product Solutions co.
Acquired Multiple Global Telecom OEMs, US Healthcare Company, Global
Financial Giant, Multiple Global Technology Giants, EMEA Division of a Global
SI and Indian Textile Manufacturer as clients.
2006-07
• Recognized as one of the ‘Top 100 Global Outsourcing Professionals’ & ‘Top 10
Global Telecom Outsourcing Providers’ by International Association of
Outsourcing Professionals (IAOP).
2004-05
• Inaugurated Whitefield campus in Bangalore. 2011-12 | $221 Million
• Began operations in Malaysia and China. • Listed in ‘Forbes Asia 200 Best
Under a Billion’.
2002-03
2010-11 | $193 Million
• Acquired Large US Information Services Provider & • Acquired Multiple Global 500 clients
Global Industrial Conglomerate clients
2008-09 | $105 Million
2001-02
• Setup development center in Gurgaon.
• Inaugurated Bangalore Development Centre.
• Set up India Global Delivery Center for a large
• Began operations in USA.
European SI
2005-06
1999-2000
• Commenced development center in Hyderabad.
• Began operations in New Delhi
• Acquired Large US Telecom SP & 2003-04
Global SI clients • Received funding of US$ 6 million from White Rock Investments (Mauritius) Limited.
• Acquired Large US ISP client & Partnered with Indian Retail ERP co
• Began operations in UK.


Sanjay Govil: is the Founder and Chairman of Infinite. Sanjay worked for IBM and Verizon prior to founding
Infinite in 99’. Sanjay has done BSEE from Auburn University and is a fellow of Wharton School of Business & a
member of the Global CEO Advisory Council for the Wharton Fellows program. He is on the Board of Directors
for Future of Advertising Project at the Wharton School of Business & was recently nominated to be a
member of the Graduate Board for the Wharton School of Business. Sanjay remains involved in the
community through his philanthropic activities.

Upinder Zutshi: is the Managing Director and CEO of Infinite. Upinder has over 28 years of experience in
initiating and establishing startups and building an efficient management team under his guidance. In his
formative years, he has worked extensively in US, Europe, Middle East and India, with reputed companies
holding key leadership positions. He has been instrumental in setting the vision for Infinite to be positioned as
a Full Service Provider, vertically well integrated, thus, moving the Company up the value chain . He holds a
Mechanical Engineering degree from BITS – Pilani.

Sanjeev Gulati: heads our Finance function for India, Europe and the APAC regions as an SVP. With over two
decades of experience, in accounting and finance, Sanjeev has expertise in internal audits, accounting and
taxation. . He is also the Compliance officer at Infinite and is responsible for addressing all shareholder
grievances. Sanjeev is a member of the Institute of Chartered Accountants of India and holds a Post Graduate
Diploma in Business Management.

Anurag Lal: As the CEO of Infinite Convergence, he leads the Mobility Solutions Practice. With over 20 years
of leadership and operational experience in technology, IT and telecom services, he was SVP, Global Service
Provider at Meru Network and Chief Business Development and Sales Officer at iPass Inc. prior to taking up his
role at Infinite. He was appointed and served as a Director of the United States National Broadband Taskforce
by the Obama administration. He holds a Bachelors of Arts degree in Economics from Delhi University and has
attended the Senior Leadership Program at Harvard University’s John F. Kennedy School.


USA - Maryland, Illinois, Tennessee & Chicago
India- Bangalore, Chennai, Delhi, Gurgaon & Hyderabad;
United Kingdom, Malaysia, China, Singapore & Hong Kong


Customer Relationship Age What We Do For Them
Global SI 12 Years Application Management | Asset Management | Infrastructure Management
Large Telecom SP 12 Years Application Management Services | Infrastructure Management Services
Global Telecom OEM 12 Years Product Engineering Services
Global Telecom OEM 6 Years Product Engineering Services | Offshore Development Center, Platform, Product
Healthcare Provider 5 Years Application (Product) Development | Testing & Management; Product Rollout &
Implementation
Global Telecom OEM 4 Years Next-Gen Messaging Platform
Financial Services Provider 3 Years Product Development, Testing & Implementation | SOA Migration | Product Re –Architect |
Business Intelligence & Gateway
Tech Support Provider 3 Years Tech Support
Information Management 2 Years
Security Services | Applications Management | Analytics Security Services
Services Company
Media & Content Company 2 Years Application Lifecycle Management


• QA & Performance Engineering • Remote Infra. Management
• SoA • Data Center Services
• Agile • Network Management
• Enterprise Analytics • Tech. Support Services
• Cloud Enablement • Cloud Consulting
• Enterprise Mobility • Managed Services

• SMS & MMS Platform • Product Design
• Rich Communication Suite • Development & Support of
• Personal Messaging Cloud High Capacity; High Reliability
• Enterprise Messaging Service Products – Five Nine Availability
• Converged Messaging Platform • ATCA System Engineering for
Scalable Platforms

Infinite Service Offering

Application Management | Infrastructure Management | Product Engineering | Mobility & Messaging

Telecom | Healthcare | Energy & Utilities | Media & Content | Banking & Finance

T & M | Managed T & M | Fixed Price | Revenue Sharing


• Not the typical Indian IT Service Provider - US Based and Local Partner to US Client
• Differentiated Income Model – Non-Conventional Business
• Flexible Business Engagement Models – Revenue Share, Risk-Reward
• Large Multinational Customers - Multi-year Multi-million Dollar Contracts
• Strong Domain Knowledge - Intellectual Property Leveraged Solutions
• Mission Critical Services – Partnership Model

• Strong Profitability • Best-in-our-Class – Mid
• Low gearing Sized player with Large
• Positive Cash Complex Project
Generator Experience for Fortune
• No Bad Debts 100 and 500 clients
• High Return Ratios • Retention rate of 85%
• High Dividend Yield higher than industry
policy average
• High Promoter Holding • Rated 5th Best Employer
• Revenue Visibility in India IDC-DQ


Market Positioning

11

• Infinite’s AMS business provides solutions for AMS Revenue growth in INR Cr.
management, development & maintenance of CAGR 20%
IT Applications for Fortune 500 and 1000 719
800 600
clients 498
600

400
• The company’s areas of core expertise
200
include Enterprise Analytics, Service-
0
Oriented Architecture (SoA), Quality FY 10 FY 11 FY 12
Assurance (QA), & Performance Engineering
along with Enterprise-Class Solutions
• Infinite’s AMS revenue recorded a growth
of 20% from Rs. 5.99 Billion 2010-11 to INR
• AMS is focused on advanced technological 7.19 Billion in 2011-12 coupled with
competencies, providing solutions across five Margin Growth derived from increased
efficiency.
growing industries – Telecom, Healthcare,
Energy & Utilities, Media & Content, and • Proportion of Application Management
Banking & Finance Services as a percentage of
Total Revenue: 68%


Integrated Solutions
Driven
• Selected Industry Verticals
• Growth – Healthcare, Media
and Content, Telecom and
Financial Services
• High Value - Technology
Solutions focused

Strengths Customer Engagement

• High-end capabilities – SOA, MDM, Analytics, BI/DW, OSS/BSS • At the Customer…For the
• Core to Customer – MMIS, RC 2.0, Payment Engine Customer…With the Customer
• OSS/BSS Solution Architecture Design & Implementation • Delivery Engagement + Account
• Legacy Migration/Transformation and Consolidation services Management – Two-in-a-box
• Independent Verification & Validation • Assessment led…Solution based
• OSS/BSS Products/Frameworks Development & Support


• Infinite’s IMS business helps Fortune 500 and IMS Revenue growth in INR Cr.
1000 clients manage their IT Assets to
efficiently and effectively meet business CAGR 72% 165
200
objectives
150 110
• Over the years, the company has not only
developed world-class infrastructure across 100 56
delivery locations, but also gained strong 50
reference-backed experience in delivering
0
large-scale complex IMS projects for Fortune FY 10 FY 11 FY 12
100, 500 and 1000 clients worldwide.
• Infinite’s Domain expertise spans a diverse
set of systems and technologies that • Our IMS Business registered a revenue
comprise enterprise IT infrastructure of growth of 49.5% from INR 114 Crore in
organizations 2010-11 to INR 165 Crore in 2011-12
• Infinite helps clients craft an IT Infrastructure • Infinite’s new offering iTaaS provides
Management Strategy that can become a Remote Infrastructure Management
sustainable competitive advantage by Services through a world class delivery
allowing for faster time to market, enhanced platform providing tailor-made solutions
customer and employee satisfaction enabling effective utilization of IT.


• Infinite offerings include Managed Services, Integrated Solutions and Flexible, Cloud-based
offerings enabled by iTaaS
• Our capabilities include on-site as well as Remote IT Infrastructure Management and Technical
Support for enterprise, with specialized offerings to 'design, build, integrate, manage and evolve'
in the technology lifecycle
• End-to-End Service portfolio with pro-active monitoring both onsite and remotely
• Managing, Optimizing and Supporting diverse networks, devices, databases and applications
across a global footprint


• Offering Shared
Service Desk to cater
to requirements from
• Shared/Aggregated
• Global Delivery the SMB/SME
Services
• Managed Services segment
• Cloud Based Services
• Enterprise Mobility
• Technical Support /
• Datacentre Services
Shared Service Desk
• Consulting • Managed Services &
• Hosting Services Global Delivery for
Large SI and
Enterprises

• Network
Management, NoC
• Network Management and Joint GTM for
Services Infrastructure
• NOC Management with
• Mobility Services Large Network
companies


• Infinite’s PES business leverages on our IP-Based Product Engineering Services
Revenue-Share Model to help global customers
rationalize product costs and move us from an IT 200
CAGR 27% 170 180
Vendor to an IT Partner.
150 112
• The company focuses on providing IP Led
100
Solutions to Telecom OEMs/ISV, Telecom Service
Providers, Content Distribution enterprises, 50
Healthcare Providers and Technology Companies
0
through the Revenue Share model FY 10 FY 11 FY 12
• PES business is an evolution of our IP led
business and contributed about 17% of our
overall revenue in 2011-12
• In FY 2011-12, we added 3 Tier 1 clients; tested
and delivered end-to-end product development
and services.
• We created dedicated labs for customers to
conduct detailed testing multi-vendor
interoperability, automation and remote
product testing.


Datacom: NGN/IMS:
• Development & Testing • SIP, SIGTRAN, SS7, SCTP
• L2/L3/L4/ Transport Networks • Service Provider, Enterprise
• Service Provider & Enterprise Networks
• Datacenter Products • Presence, Conferencing,
• Application Engineering & Webportals
Security • X CSCF, HSS, PCRF
• Core, Provider & Access

Wireless: NMS / EMS / OSS / BSS:
• CDMA, GSM, Small Cell, • FCAPS
Femto, LTE • Service Provider & Enterprise
• Packet Voice Architecture • Development, Porting
• MSC/HLR/HSS/OTAF • Testing & Migration
• Enode B, SGW, PCRF, SGSN, • Cartriges, Adapters, Frameworks
GGSN • Service Assurance, Revenue
Assurance, Billing

Optical: Messaging Infra:
• Access, Transport, Core • SMSC, MMSC
• SDH, SONET, DWDM • RCS, CMS
• Merto, Aggregation • Highly Scalable, ACTA Compliant
• IP, MPLS, PWE • Service Provider & Enterprise
• Worldwide Implementation

Design Development Testing Automation Porting Migration System Support Sustenance Support


System Engineering Delivery Execution Infinite’s Advantage

• Team Composed of highly • Architects driven teams • Skin in the Game
experienced Telecom Industry
professionals of product • Designed, Developed & Support • Business Models:
background 99.999% reliable products.
Revenue share | Cost plus | Risk
• Developed UL/FCC compliant • Develop and support high reward
adjunct products ground-up. capacity systems – 56K mobile
handsets programming per • Reverse BoT
• Built highly scalable SCP hour. • Strong expertise in product
platform development
• Support more than 10K
• OATF for handset provisioning installations across NAR region. • IP Leveraged Solutions
• VAS for IN / NG IN Platform • Sustenance support for more • Right sized company
than 30+ Tier1 Service providers
• ATCA System engineering for • Rebadging Expertise
highly scalable platforms. • Capacity to add derivative
streams to base product. • Full System Design Capabilities
• End to End PDLC for Messaging
product. • Anchor Customer based Growth
• Product design and support for
MSR


• Infinite Convergence – was formed as a result of our strategic
Mobility & Messaging
alliance with Motorola (now Nokia Siemens Networks) with
Infinite’s acquisition of Motorola’s messaging product solutions. Revenue
Our messaging business is a natural evolution of our Product
Growth 50% 150
Engineering expertise.
160
140
100
• We have since modernized the platform to be compatible with 120
the Next-Gen Mobile platforms such as 4G and LTE. 100
80
60
• We have launched multiple products based on our messaging 40
capability and technology that promise to take messaging into its 20
next phase of evolution. 0

–Infinite Rich Communications Suite (RCS) FY 10 FY 11 FY 12
–Infinite Enterprise Messaging Service (EMS)
Infinite is a GSMA member, enabling our
–Infinite Public Safety Messaging Center participation in a professional
–Infinite Converged Messaging Server (CMS) association covering more than 220
countries and including 800 of the
–Infinite Short Messaging Service Center (SMSC)
world’s leading mobile operators
–Infinite Multimedia Messaging Service Center (MMSC)
–Infinite Personal Messaging Cloud* (PMC) – To be Launched


Source: Various industry reports and company estimates

• 75% of global users use text • Over 5 billion subscribers
messaging
• Apps have been • Only 25% of mobile
downloaded 10.9 billion phones are smart phones
times
• Aggressive carrier
• 150 million mobile commitment to RCS to
Facebook users, 1 out of 4 defend against OTT traffic
users migration
• 1 in 8 mobile subscribers
• “G5” committed to RCS
will use m-ticketing in 2015 launch in 2012/2013
for travel etc.

• Strong growth in the enterprise messaging services business as more businesses develop a mobile
strategy to improve loyalty and reduce costs.
• The ubiquity of SMS and MMS makes messaging a key part of enterprise mobile strategy.
• Enterprise Revenue Growth:
-SMS revenue growth from $1,242M to $2,031M with CAGR of 37%
-MMS revenue growth from $88M to $309M with CAGR of 13%


Utilizing a Channel Partner approach is the most cost effective and efficient way to build Revenue
and Market presence for the Infinite Convergence business.

Competition
Acision (US Based) provides mobile messaging, powering messaging services for the mobile
communications experience and caters to Carriers and Enterprises alike across 2G, 3G and LTE
networks.

Mavenir Systems (US Based) provides mobile infrastructure solutions for mobile operators
covering LTE communications services through a portfolio of convergence solutions


Financial Overview

26

Return Efficiency (%)
• Declared Dividend policy - 30% of PAT RoE
– Declared dividend of Rs 8.5 per share in 45% 41% RoCE
FY 12; Total amount – Rs. 36 Cr. 40%
35% 31% 31%
– Paid Rs 3 in FY 11. 36%
30%
• Completed buy back of 1.4 Million shares at average 25% 29%
20% 26%
price of Rs 116.44 within 7 months of announcing the
15%
buy back. Total amount Rs 16.3 Cr 10%
• Free cash flow positive in 6 of the last 8 quarters. 5%
0%
– Free cash flow of Rs 74 Crores in FY 12
– Cash & cash equivalent of Rs. 157 Cr FY 10 FY 11 FY 12

Revenue (USD Mn) Operating Margin (USD Mn) PAT (USD Mn)
50 CAGR 21% 40 CAGR 24%
CAGR 25%
300 45 38
35
221 40 32 26
250 194 30 24
35
26
200 141 30 25 17
25 20
150
20
15
100 15
10
10
50 5
5
0 0 0
FY10 FY11 FY12 FY10 FY11 FY12 FY10 FY11 FY12


Share Price Movement (until Nov, 2012) Infinite Shareholding Structure

Price Data (As on Feb 18th, 2013)
Face Value (INR) 10
Market Price (INR) 109.95
52 week H/L (INR) 167.00/ 66.00
Market Cap (INR Mn) 4679.5
Equity Shares Outstanding (Mn) 42,559,995
Dividend Payout (%) 30%


Rs in Crore

FY 10 FY 11 FY 12 YTD FY 13

Revenue 664.3 883.28 1,055.80 1030.52
Direct Expenses * 542.96 565.3 651.17 675.48
GM 121.34 317.98 404.63 355.04
SG & A 170.1 221.14 183.85
EBITDA 121.34 147.88 183.49 171.19
Forex gain / (loss) -8.33 1.89 6.18 -12.84
Depreciation -6.56 -16.74 -32.85 -31.75
Other income (excluding interest) 1.22 3.2 2 0.51
Gain / (Loss) on sale of FA -0.49 -
EBIT 107.66 136.24 158.33 127.11
Interest income / (expense) -0.53 -0.61 2.36 3.36
PBT 107.14 135.63 160.69 130.47
Tax 23.13 28.45 39.99 29.53
PAT 84 107.18 120.7 100.94


Rs in Crore
st st th
31 Mar 31 Mar 30 Sep 31st Dec
2011 2012 2012 2012
Sources of funds
Equity share capital 43.96 42.56 42.56 42.56
Reserves 372.32 466.38 506.63 552.74
Borrowings 51.56 59.13 83.21 64.81
Deferred Tax liabilities 16.12 22.95 28.13 29.92
Long Term Liabilities and Provisions 4.62 3.56 4.03 4.14
Current Liabilities and Provisions 337.61 421.95 506.42 505.72
Total Sources of Funds 826.19 1016.53 1170.98 1,199.88

Application of funds
Fixed Assets - Net (including goodwill) 228.17 279.94 302.53 320.06
Deferred Tax Assets 13.52 20.04 23.1 21.85
Non Current Investments 1 1.15 1.19 1.23
Current Investments (Short Term Mutual Funds) 15.84 10.08 7.6 5.62
Long Term Loans and Advances 12.6 21.39 18.34 22.53
Current Assets 471.61 543.4 635.17 702.41
Cash and Cash Equivalents 83.44 150.6 183.05 126.19
Total Uses of Funds 826.19 1016.53 1170.98 1,199.88
- - - -
Cash, Mutual Funds less Book Overdraft 156.54 187.42 127.49


Rs in Crore

FY 11 FY 12 FY 13 - Q1 FY 13 – Q2 FY 13 – Q3

Pre-Tax Profit 135.63 160.69 47.03 40.52 42.95
Depreciation 16.74 32.85 10.26 10.6 10.89
Other Adjustments -0.36 -6.88 -4.37 1.19 -0.85
Change in Working capital -28.77 -41 -9.21 -12.86 -36.86
Taxes Paid -23.29 -24.12 -18.48 -0.76 -12.78
Operating Cash Inflow 99.96 121.54 25.23 38.69 3.35
Capital Expenditure -102.9 -48.04 -20.15 -21.79 -17.99
Free Cash Flow -2.94 73.5 5.08 16.9 -14.64
Changes in Investments 59.68 5.67 2.11 0.38 1.98
Interest Received / Paid 1.5 5.46 1.45 1.62 2.93
Debt Raised/(Repaid) -12.75 13 10.79 13.11 -21.68

Capital Raised/(Repaid) - -16.3 - - -

Dividend and Dividend Tax paid -15.38 -19.82 - -22.26 -29.68
Net change in cash 30.1 61.51 19.43 9.75 -61.09

Effect of Exchange Difference on
-1.5 5.64 11.77 -8.5 4.24
translation of foreign currency

Opening Cash 54.84 83.45 150.6 181.8 183.05
Closing Cash 83.44 150.6 181.8 183.05 126.2


Key Financial Ratios
Key Financial Ratio Q1 FY 12 Q2 FY 12 Q3 FY 12 Q4 FY 12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Gross Margin 39% 39% 40% 36% 36% 34% 34%
SG & A to Revenue 21% 22% 20% 20% 19% 17% 17%
EBITDA Margin 17% 17% 20% 16% 17% 17% 16%
EBIT Margin 15% 16% 19% 10% 14% 11% 12%
PBT to Revenue 15% 16% 20% 10% 15% 12% 12%
PAT to Revenue 11% 12% 15% 8% 11% 9% 9%
EPS - Basic in INR * 6.93 7.21 9.1 4.81 8.32 7.34 8.06

Key Institutional Investors (8th February 2013) Key Indicators
Category Holding Return on Equity 26%
T Rowe Price International Inc. 5.17%
Return on Capital Employed (%) 31%
DNB/ Carlson Fund 4.49%
Principal Trustee Co. 0.72% Debt to Equity (x) 0.007
Manulife Global Fund 0.58% Book Value Per Share (INR) 140
UTI (including sub accounts) 0.39%
Goldman Sachs Investments 0.15% Return on Net Worth 22%


Revenue - Client FY10 FY11 FY12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Top Client 38.5% 30.7% 32.8% 34.6% 31.5% 42.40%
Top 5 Clients 83.7% 81.2% 72.9% 74.8% 71.0% 75.70%
Top 10 Clients 92.4% 91.8% 89.0% 87.8% 89.2% 91.50%
No. of active clients 50 51 60 58 62 67
No. of clients added 14 18 3 6 10
FY10 FY11 FY12 Q1 FY 13 Q2 FY 13 Q3 FY 13
US$ 1 mn Clients 13 15 17 17 18 17
US$ 5 mn Clients 5 6 10 11 11 11
US$ 10 mn Clients 3 5 5 5 5 6
US$ 20 mn Clients 3 3 4 4 4 4

Revenue from Repeat Business 99% 98% 99% 99% 98% 99%
Average Bill Rate (in USD) Q4 FY 10 FY 11 FY12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Offshore $21 $20 $20 $21 $20 $20
On-site $55 $63 $65 $68 $65 $66
Revenue - Engagement Model FY 10 FY 11 FY12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Fixed Price / SOW / Managed T&M 41.9% 35.0% 27.1% 22.5% 24.4% 22.60%
Revenue Sharing 7.0% 14.5% 16.5% 17.1% 17.9% 16.80%
T&M 51.0% 50.6% 56.4% 60.4% 57.7% 60.60%


Revenue - Vertical FY10 FY 11 FY 12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Telecom & Media 57.3% 56.6% 40.8% 42.5% 41.0% 38.50%
Manufacturing 7.9% 5.8% 7.0% 5.9% 6.0% 5.90%
Healthcare 18.8% 18.7% 18.6% 18.4% 15.4% 18.20%
Energy & Utilities 2.4% 4.3% 7.8% 1.2% 8.9% 0.90%
Retail 3.9% 4.8% 5.4% 2.5% 2.2% 2.00%
Other 9.8% 9.8% 20.4% 29.5% 26.6% 34.50%
Revenue - Offering FY10 FY11 FY 12 Q1 FY 13 Q2 FY 13 Q3 FY 13
AMS 62.7% 57.4% 56.1% 63.1% 59.3% 66.70%
Mobility 16.5% 15.6% 14.20%
PES / IP leveraged / IVV 17.5% 16.6% 16.60%
IMS 8.4% 12.5% 15.6% 2.9% 8.5% 2.50%
Testing 11.3% 10.0% 9.9%
IP leveraged / Prod Dev. 16.8% 19.6% 16.3%
Enterprise Software Solutions 0.9% 0.5% 2.1%
Revenue Region FY10 FY11 FY 12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Offshore Revenue 33.8% 32.2% 35.2% 25.5% 32.3% 25.50%
Onsite Revenue 66.2% 67.8% 64.8% 74.5% 67.7% 74.50%
Revenue - Location FY10 FY11 FY 12 Q1 FY 13 Q2 FY 13 Q3 FY 13
USA 87.9% 82.8% 76.6% 85.4% 78.6% 87.40%
Europe 6.0% 6.2% 4.2% 0.5% 0.0% 0.00%
India 4.1% 7.5% 12.6% 7.2% 15.5% 7.70%
APAC 2.1% 3.5% 6.6% 6.9% 5.9% 4.90%

FX - Hedge $ Million
Forward Contracts as on 31st Dec 2012 48.35
Forward Contracts as on 10th Feb 2013 44.10
Contracts for Rs 44 to Rs 50.20 Rs 51.50 to Rs 56.20 Total
FY 2012 – 13 8.9 1.95 10.85
FY 2013 – 14 26.3 7.2 33.50
FY 2014 - 15 4.0 4.00
Total 35.2 13.15 48.35
Less: Utilised from 1st Jan 2013 to 10th Feb 2013 4.25
Forward Contract as on 10th Feb 2013 44.10

Cash Position FY10 FY11 FY 12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Net worth (in Rs. Crores) 326.95 416.28 508.84 567.1 549.19 595.30
Return on net worth (after extraordinary and prior
24.20% 25.80% 23.70% 6.20% 5.70% 5.8%
period items)
Total cash (in Rs. Crores) * 118.04 94.62 156.54 182.78 187.42 127.49
Cash per share 26.85 21.52 36.78 42.95 44.04 29.95
Note : * The Total Cash is the Amount of Cash & Cash Equivalents, Investment in Liquid Mutual Funds and
reduced by the Book Overdraft from Bank
Rs - US$ Rate (Rs) FY10 FY11 FY 12 Q1 FY 13 Q2 FY 13 Q3 FY 13
Period Closing rate 45.14 44.65 51.16 56.31 52.70 54.78
Period Average rate 47.28 45.63 47.95 54.22 55.24 54.14


The Pass-through business is a part of our relationships with one of our key clients. Through several rounds of
vendor consolidation, Infinite has emerged one of the limited Key vendors for the client.

Infinite as a Core Vendor to the client, agrees to pass through revenue accruable for services provided by sub-
tier vendors and does not recognize this as part of our turnover. The company does not expend any marketing
effort nor does it exercise any direct control or supervision of the sub-tier vendor resources. The company
charges and retains a certain margin in the nature of a fee from such client to route the business through
Infinite.

Considering the nature of this business, Infinite recognizes only the margins from these transactions as
turnover.

USD Million
Particulars Q3 FY 13 Q2 FY 13 Q1 FY 13 FY 2012 Q4 FY 12 Q3 FY 12 Q2 FY 12 Q1 FY 12 FY 2011

Pass Thru Revenue 19.1 26.9 28.1 110.5 23.8 29.5 29.6 27.6 101.8
Margin (Recognized as turnover) 0.6 0.9 1.1 4.7 1.2 1.3 1.1 1.1 3.8
Margin as a % of Overall Pass-Through Revenue 3.1% 3.2% 3.9% 4.2% 4.9% 4.4% 3.6% 4.0% 3.8%
Margin as a % of Infinite Revenue 0.9% 1.4% 1.9% 2.1% 2.2% 2.5% 1.9% 1.9% 2.0%


Future Direction – Infinite 2.0

37

Double in 4 Years
AMS, PES Large Corporates – Infinite as the Alternate Service Provider
IMS SMB segment – Platform Led; Outcome Based Approach
Mobility Telecom Service Providers & Enterprises

Organic Inorganic
End Customers Strengthen & harmonize our
• Farm existing customers People Core Capabilities through
• Cross-leverage across Infinite Acquisitions
• New logos leveraging Infinite “STARS”. Process
• Mobility & Messaging
Partner Strategy
• Large & SMB System Integrators
Services • Switching & Routing
• Telecom OEMs • IMS Platform for SMB
• Platform & Technology Alliances Infrastructure
Marketing Strategy
• Strategic; Branding; Conferences
• Industry Thought Leadership – Infinite “STARS”

Build or acquire capabilities in disruptive technologies like cloud computing, mobility, messaging, optics, analytics
Leverage partnerships with technology providers; Invest 10% of EBITDA in building capabilities, IP & People


Infinite IR Agency:
VALOREM ADVISORS
Anuj Sonpal
Tel: +91-22-2202-6090
Email: anuj@valoremadvisors.com

Infinite Internal IR Contact:
INFINITE COMPUTER SOLUTIONS (INDIA) LTD.
Anshul Pandey
Tel: +91-80-4193-0000
Email: Anshul.Pandey@infinite.com
Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which
involve a number of risks and uncertainties that could cause actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to,
risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT
services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and
retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client
concentration, restrictions on immigration, industry segment concentration, our ability to manage our international
operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or
system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our
service contracts, the success of the companies in which the company has made strategic investments, withdrawal of
governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or
acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions
affecting our industry. The Company does not undertake to update any forward-looking statements that may be made
from time to time by or on behalf of the Company.


Infinite investor presentation March 2013

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Infinite investor presentation March 2013