3i Infotech Limited has informed the Exchange about change in Management
3IINFOLTD · price
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The Board approved unaudited Q3 FY26 results with consolidated revenue from operations at Rs. 172.14 crore (down from Rs. 181.41 crore YoY) and net profit of just Rs. 2.08 crore (vs Rs. 17.26 crore YoY), hit by a Rs. 3.41 crore exceptional charge from new Labour Codes. Standalone revenue came in at Rs. 79.61 crore with net profit of Rs. 2.21 crore. The Board re-appointed Mr. Avtar Singh Monga as Non-Executive Independent Director for a second five-year term starting April 1, 2026, subject to shareholder approval. It also withdrew a prior July 2025 resolution to convert an Rs. 8.17 crore loan and invest an additional Rs. 1.33 crore in subsidiary NuRe FutureTech. During the quarter, the company completed a rights issue of 3.77 crore shares at Rs. 17 each, raising paid-up capital to Rs. 207.39 crore. Other income for 9M FY26 includes a Rs. 39.66 crore IRS tax refund received by US subsidiary 3i Infotech Inc.
Q3 profits fell sharply YoY despite the one-time IRS refund boost, signalling margin pressure in the core business. Withdrawal of the NuRe FutureTech capital infusion suggests management is tightening capital allocation in underperforming subsidiaries, while the re-appointment of the independent director signals board continuity. The auditor's qualified conclusion on the Middle East subsidiary (negative networth, recoverability of receivables) and the police complaint against former MD & CEO V. Srinivasan are key governance red flags investors should track.