3i Infotech Limited has informed the Exchange about General Updates - 2. (1) Approval for raising of funds by way of Rights Issue (2) Approval for appointment of SMP (3) 4. Re-appointment of Secretarial Auditor (4) 5. Constitution of High-Powered Committee
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3i Infotech's board approved its FY2024-25 audited results, reporting a consolidated net profit of Rs. 25.35 crore versus a Rs. 313.57 crore loss in FY24, with standalone net profit of Rs. 44.49 crore versus a Rs. 818.63 crore loss. Consolidated revenue from operations fell to Rs. 725.76 crore from Rs. 813.88 crore, while standalone revenue rose to Rs. 364.62 crore from Rs. 357.33 crore. The board approved a rights issue of up to Rs. 100 crore to eligible shareholders, appointed Mr. Vinod Pahlawat (Chief Growth Officer) as a Senior Management Personnel, and re-appointed SAP & Associates as Secretarial Auditor for five years (FY26–FY30). A High-Powered Committee comprising two retired judges and one retired SEBI official has been formed to guide legal action against former management, employees, and directors based on the forensic audit report. Statutory auditors gave an unmodified opinion on standalone results but a modified opinion on consolidated results, flagging issues at subsidiaries including going-concern concerns at Nure FutureTech.
The sharp turnaround from a multi-hundred-crore loss to profit is positive for the stock, while the Rs. 100 crore rights issue may dilute existing shareholders but bolster the balance sheet. Governance cleanup via the High-Powered Committee signals accountability, though audit qualifications on subsidiary financials remain a watch point.