Based on the recommendation of Nomination and Remuneration Committee, the Board of the Company has approved reorganisation of Senior Management Personnel team and considering permanent movement of Mr. Harish Shenoy to US subsidiary, he will cease to be SMP & KMP with immediate effect. However, he continues to be part of Leadership Team of 3i Infotech Group.
3IINFOLTD · price
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3i Infotech's board approved its Q1 FY26 (quarter ended June 30, 2025) unaudited financial results. Consolidated revenue from operations stood at ₹17,055 lakhs, down from ₹17,975 lakhs in Q1 FY25, while profit for the quarter came in at ₹755 lakhs versus a loss of ₹882 lakhs in the year-ago quarter. The board also approved converting an ₹8.17 crore loan to wholly-owned subsidiary NuRe FutureTech into redeemable preference shares, with a fresh ₹1.33 crore infusion, taking total capitalisation to ₹9.50 crore. Mr. Harish Shenoy has ceased to be Senior Management Personnel and Key Managerial Personnel with immediate effect as he moves permanently to the US subsidiary, though he remains part of the group's leadership team. Statutory auditor CKSP & Co. LLP has been re-appointed for a five-year term subject to shareholder approval. The auditor issued a qualified conclusion on the consolidated results, flagging recoverability concerns and going-concern uncertainty at the Middle East subsidiary, where related-party receivables of AED 453.97 million remain unverified.
The Q1 results show a return to profitability, but the year-on-year revenue dip and the auditor's qualified opinion on the consolidated numbers, especially the going-concern doubts at the Middle East unit, are concerns for shareholders. The KMP change is an internal reorganisation and unlikely to materially impact the stock, while the subsidiary capital infusion and auditor continuity are routine.