3i Infotech Limited has informed the Exchange about General Updates - 4. Incorporation of step-down wholly owned subsidiary in Thailand
3IINFOLTD · price
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3i Infotech Limited reported FY2026 consolidated revenue of ₹69,336 lakhs, down from ₹72,576 lakhs in FY2025, representing a 4.5% revenue decline. However, profit after tax improved significantly to ₹3,511 lakhs from ₹2,535 lakhs (38.5% growth). The statutory auditors issued a qualified opinion on consolidated financials due to an adverse opinion on 3i Infotech (Middle East) FZ LLC regarding AED 416 million in unrecoverable receivables and going concern doubts. Additionally, 3i Infotech (Thailand) Limited has material going concern uncertainty. The Board approved incorporation of a new step-down subsidiary in Thailand and closure of the dormant Netherlands subsidiary. A forensic audit on legacy matters is complete, and a complaint has been filed with the Economic Offence Wing regarding alleged fraud by former management.
The qualified audit opinion and adverse findings on subsidiaries, particularly the Dubai entity with significant unrecoverable receivables, raise concerns about financial controls and subsidiary performance. The company is restructuring its subsidiary network while managing legacy compliance issues. PAT growth is positive but comes amid operating cash flow outflows.