Board Meeting Details

The Board of Directors meeting was held on October 29, 2026, commencing at 4:30 PM and concluding at 5:14 PM.

Key Decisions Approved

1. Financial Results Approval

The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, pursuant to Regulation 33 of SEBI Listing Regulations.

2. Senior Management Appointment

Based on recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Shirsendu Chaudhuri as Chief Growth Officer and Senior Management Personnel with immediate effect.

3. Subsidiary Incorporation

The Board approved the incorporation of a wholly owned subsidiary to pursue business in Artificial Intelligence practice, with an initial investment of ₹1 crore.

Financial Results Summary

Consolidated Financial Results (Amount in ₹ Lakhs)

| Particulars | Q2 FY27 (30-09-2026) | Q1 FY27 (30-06-2026) | Q2 FY26 (30-09-2025) | H1 FY27 (30-09-2026) | H1 FY26 (30-09-2025) | FY26 (31-03-2026) |

| Revenue from Operations | 18,201 | 17,794 | 17,489 | 35,995 | 34,544 | 69,336 |

| Other Income | 1,044 | 639 | 3,582 | 1,683 | 5,735 | 9,032 |

| Total Income | 19,245 | 18,433 | 21,071 | 37,678 | 40,279 | 78,368 |

| Total Expenses | 18,573 | 17,847 | 18,567 | 36,420 | 36,565 | 73,513 |

| Profit before Tax | 672 | 586 | 2,504 | 1,268 | 3,714 | 4,514 |

| Profit for the period | 672 | 652 | 1,820 | 1,324 | 2,675 | 3,511 |

| Total Comprehensive Income | 427 | 276 | 202 | 697 | 1,531 | 587 |

| Basic EPS (₹) | 0.32 | 0.31 | 1.03 | 0.64 | 1.46 | 1.83 |

| Diluted EPS (₹) | 0.32 | 0.31 | 1.03 | 0.64 | 1.46 | 1.82 |

Standalone Financial Results (Amount in ₹ Lakhs)

| Particulars | Q2 FY27 (30-09-2026) | Q1 FY27 (30-06-2026) | Q2 FY26 (30-09-2025) | H1 FY27 (30-09-2026) | H1 FY26 (30-09-2025) | FY26 (31-03-2026) |

| Revenue from Operations | 7,291 | 7,510 | 8,470 | 14,801 | 17,022 | 32,462 |

| Other Income | 997 | 593 | 1,633 | 1,590 | 2,208 | 5,710 |

| Total Income | 8,288 | 8,103 | 10,103 | 16,391 | 19,230 | 38,172 |

| Total Expenses | 7,784 | 7,443 | 9,755 | 15,227 | 18,742 | 35,850 |

| Profit before Tax | 504 | 660 | 348 | 1,164 | 488 | 2,082 |

| Profit for the period | 504 | 660 | 348 | 1,164 | 488 | 2,082 |

| Total Comprehensive Income | 723 | 660 | 442 | 1,383 | 575 | 2,217 |

| Basic EPS (₹) | 0.24 | 0.32 | 0.20 | 0.56 | 0.28 | 1.08 |

| Diluted EPS (₹) | 0.24 | 0.32 | 0.20 | 0.56 | 0.28 | 1.08 |

Capital Structure Changes

During the quarter ended September 30, 2026, the company allotted 25,050 equity shares under Employee Stock Option Scheme 2018 and 73,187 equity shares under Employee Stock Option Scheme 2023 to eligible employees. This increased the paid-up equity share capital from ₹20,740 lakh to ₹20,750 lakh (face value of ₹10 per share).

Auditor's Review Report Qualifications

The statutory auditors, CKSP AND CO LLP, issued a qualified conclusion on the consolidated financial results citing several material issues:

Basis for Qualified Conclusion

1. 3i Infotech (Middle East) FZ LLC: Statutory auditors expressed adverse conclusion regarding recoverability of receivables from related parties amounting to AED 411,213,478 and preparation of financial statements on going concern basis due to negative net worth of AED 73,794,298.

2. 3i Infotech Asia Pacific Pte Ltd: Qualified opinion in FY25 audit regarding recoverability of loan to related company (S$7,109,394) and amount due from subsidiary 3i Infotech (Thailand) Limited (S$732,844).

3. 3i Infotech Saudi Arabia Co.: Qualified opinion in FY26 audit due to inability to obtain bank confirmations, verify account balances (receivables of SR 1,948,693, payables of SR 1,610,279, accrued expenses of SR 590,426), and irrecoverable deposits of SR 2,042,007 paid to ZATCA.

Material Uncertainty Related to Going Concern

1. Professional Access Software Development Private Limited: Accumulated losses of ₹945.33 lakh as of March 31, 2026, with uncertainty regarding recoverability of fixed deposits and other assets.

2. 3i Infotech (UK) Limited: Reduced trading adversely affecting operations and cash flow, dependent on achieving operational cash flow positivity.

3. 3i Infotech (Cyprus) Limited: Loss of US$13,954 for year ended March 31, 2026, current liabilities exceeded current assets by US$1,778, dependent on group support.

Emphasis of Matter

1. Legacy Matters: EOW responded on August 13, 2026, that complaint regarding eMudhra Consumer Services Limited is civil in nature. Company consulting forensic auditors for document review.

2. Unaudited Financial Statements: Audited financial statements for year ended March 31, 2026, have not been adopted by shareholders but filed with ROC on September 28, 2026.

3. 3i Infotech Saudi Arabia Co.: Emphasis on tax liabilities of SR 14,437,260, change in employee benefit obligation calculation method, voluntary liquidation initiated, commercial registration suspended, and license expired.

Subsidiary Information

The consolidated results include 25 subsidiaries. Financial results of 2 subsidiaries (total assets ₹11,350 lakh) were reviewed by auditors, 6 subsidiaries (total assets ₹3,97,995 lakh) were reviewed by other auditors, and 17 subsidiaries (total assets ₹18,619 lakh) were neither reviewed by auditors nor other auditors.

3i Infotech Netherlands B.V. was voluntarily liquidated with effect from April 30, 2026.

Segment Performance (Consolidated)

| Segment | Q2 FY27 Revenue | Q1 FY27 Revenue | H1 FY27 Revenue |

| AAA | 13,627 | 13,036 | 26,663 |

| IS | 3,116 | 3,330 | 6,446 |

| BPS | 1,422 | 1,399 | 2,821 |

| Others | 36 | 29 | 65 |

Legacy Matters Update

The company continues to monitor legacy matters including:

  • Outstanding liability of ₹1,06,638.84 lakh towards purchase of IPR from Dubai branch
  • Long outstanding receivables from foreign subsidiaries of ₹45,268.03 lakh (net ₹11,309.45 lakh after provisions)
  • Investments in Mauritius subsidiary with provision for diminution of ₹89,169.65 lakh (net balance ₹86,179.02 lakh)
  • Awaiting RBI approval for settlement of inter-company balances

New Appointment Details

Shirsendu Chaudhuri appointed as Chief Growth Officer and Senior Management Personnel with 22+ years of experience in IT Services, Digital Transformation, Enterprise Applications, Cloud, Managed Services, Enterprise Software and SaaS. Holds MBA in Information Systems from Symbiosis International University, Accelerated Management Program from Yale School of Management, and Bachelor of Engineering from NIT Agartala.

Compliance Status

The company has complied with Regulation 33 of SEBI Listing Regulations by submitting the financial results with limited review reports. The results are available on BSE, NSE, and company websites.

#Tags: #3iInfotech #Q2Results #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Neutral