The Indian software giant, Infosys Technologies announced its cash and other cash equivalents and the figures reported crossed $2 billion mark. With the economic storm that has hit the entire markets all around the world, the figures at end of the last fiscal year is quite impressive.

Despite the highly volatile market, Infosys has kept up its reputation with a strong balance sheet. Operating margins have been improved. As on March end 2009, the cash and equivalents have been quoted to be Rs. 10, 993 crores and the figure includes investment in mutual funds as well.

The current assets of India’s second largest IT exporter for the previous financial year turned out to be Rs 12, 228 crore. The Infosys balance sheets have been on an uptrend for the past five financial years.

Although, Infosys has been comfortable with its current assets and revenues, and has maintained a rather impressive balance sheet, analysts have forecasted a drop in its revenues. Global recession will after all hit the company indirectly as it has many major international clients hit by the economic storm.