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    532628   INE748C01038

3I INFOTECH LIMITED

(532628)
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General Announcement::Outcome of the Board Meeting held on August 10, 2021

08/10/2021 | 10:13am EDT

August 10, 2021

Market Control Securities Operations Group

Singapore Exchange Securities Trading Limited

2 Shenton Way, #19-00 SGX Centre 1

Singapore 068804

Announcement

This is to inform you that the Board of Directors (the "Board") of the Company, at its Meeting held through video conference on August 10, 2021, has approved the unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter ended June 30, 2021. Please find enclosed herewith a copy of the unaudited Financial Statements of the Company as per Indian Accounting Standards (INDAS) for the quarter ended June 30, 2021 along with Limited Review Report thereon as per the prescribed format pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR"). The unaudited Financial Statements of the Company along with the Limited Review Report will be made available on the Company's website www.3i-infotech.com.

The Board of Directors at its Meeting held today has also approved the following-

  1. The Board of Directors has inter alia fixed Tuesday, August 31, 2021 as the Record Date for the purpose of determining the shareholders whose shares will be reduced and consolidated pursuant to the Scheme of Arrangement between 3i Infotech Limited ("Company") and its shareholders ("Scheme") approved by Hon'ble National Company Law Tribunal, Mumbai Bench.
    Accordingly, the entire issued, subscribed and paid up equity share capital of the Company as on the Record Date shall stand reduced, by reducing the face value of the equity shares, from the present sum of INR 10 (Ten) each fully paid to equity shares of INR 1 (One) each fully paid and by, immediately thereupon, consolidating 10 (Ten) equity shares of face value of INR 1 (One) each (as reduced) into 1 (One) fully paid up equity share of INR 10 (Ten) each.
  2. As per the recommendations of the Audit Committee, the Board has approved re-appointment of M/s. GMJ & Co. (FRN: 103429W) as the Statutory Auditors of the Company for a second term of five years, subject to the approval of the Members of the Company.
  3. The Board has designated Mr. Harish Shenoy, as a Key Managerial Personnel ("KMP") of the
    Company as defined in SEBI LODR with immediate effect. The details required under Regulation 30 of SEBI LODR read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed herewith as Annexure.

The Board Meeting commenced at 2:10 p.m. and concluded at 5:55 p.m.

Yours faithfully,

For 3i Infotech Limited

RAJEEV MADHAV LIMAYE

Digitally signed by RAJEEV MADHAV LIMAYE

DN: c=IN, o=Personal, pseudonym=e7dca288d13448f7a491646 7421a88b87078abe8477bd9ae7e75e3b4 439d3683, postalCode=400057, st=MAHARASHTRA, serialNumber=8252ebd4c3fa114accd888 b35f2f9a8a0322be287d839ca287a46d78 e392550e, cn=RAJEEV MADHAV LIMAYE Date: 2021.08.10 17:54:34 +05'30'

Rajeev Limaye

Company Secretary

3i Infotech Limited CIN: L67120MH1993PLC074411

T:+91 22 7123 8000 F: +91 2271238310 W: www.3i-infotech.com

Regd Off: Tower # 5, International Infotech Park, Vashi, Navi Mumbai - 400703, India

Annexure

Details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read along with SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015

Sr. No.

Details of events that need to

Information of such event

be provided

1

Reason for

change viz.

Mr. Harish Shenoy has been appointed as "Key Managerial

appointment,

resignation,

Personnel" of the Company as prescribed in SEBI LODR.

removal, death or otherwise

2

Date of appointment /

August 10, 2021

cessation

(as applicable) & term of

appointment

3

Brief profile (in case of

Performance-driven Senior Executive offering 27+ years'

appointment);

strategic leadership in business management with

operational excellence, overseeing all business functions to

ensure optimal performance. Recognized as an

accomplished change agent with success in transforming and

improving operations through the development and

implementation of process, programs and strategies.

Leverage business acumen across diverse cultures and

economies. Noted strengths in the ability to incorporate

innovative management techniques that result in enhanced

business practices, increased productivity, and profits.

He has exposure to best practices in operations & software

deliveries for Global Banks, Insurance Companies and

Corporates across the BFSI spectrum.

Mr. Shenoy has completed his MBA from Mumbai University

through Narsee Monjee Institute of Management Studies,

backed with a Master's Diploma in Computer Science and

Graduation in Science from Mumbai University.

4

Disclosure of

relationships

Not Applicable

between directors (in case of

appointment of a director)

3i Infotech Limited CIN: L67120MH1993PLC074411

T:+91 22 7123 8000 F: +91 2271238310 W: www.3i-infotech.com

Regd Off: Tower # 5, International Infotech Park, Vashi, Navi Mumbai - 400703, India

芸芸J&Co

Chartered '"αXm""

Requirements) Regulat旧时, 2015 as amended including the lanner In which it is to be discl

  • Emphasis of Matter
    We draw attention to Note No. 9 of the Consolidated Financial Results which relates to differences in balances f the subsidiary 3i Infotech 5audi Arabia LLC amounting to INR 408 Lakhs due to certain transactions not being considered for consolidation purpose which the management is in the process of reconciliation.

Our conclusion is not modified in respect of this matter.

8We have reviewed the interim financial information of 3 subsidiaries included in the statement whose interim financial information reflects total revenue of Rs. 1223.71 Lakhs total net profit after tax of Rs. 157.32 Lakhs and total comprehensive income of Rs. 124.47 Lakhs for the quarter ended June 30 2021

We did not review the interim financI information of 3 subsidiaries included in the statement whose interim financial information reflects total revenue of Rs. 10136.96 Lakhs total net profit after tax of Rs. (996.50) Lakhs and total comprehensive income of Rs. (997.50) Lakhs fr the quarter ended June 302021. The interim financial information of these subsidiaries has been reviewed by their respective independent auditors. The independent auditors' reports n financial information of these subsidiaries have been furnished to us and our conclusion in so far as it relates to the amunts and disclosures included in respect of these subsidiaries is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph 4 above

Certain of these subsidiaries are located outside India whose financial information have been prepared in accordance with the accounting principles generallγaccepted in their respective countries and which have been reviewed by other auditor's under generally accepted accounting standards applicable in their respective countries. The Holding Company's management has converted the financial statements of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. Our conclusion in so far as it relates to the balances and affairs of such subsidiaries and joint ventures located outside India is based on the reports of other auditors and the conversion adjustments prepared by the management of the Company

We did not review the interim financial information of 17 subsidiaries and 1 Joint venture included in the statement whose interim financial information reflects total revenue of Rs. 1006.14 Lakhs total net profit/(Ioss) after tax of Rs. (555.88) Lakhs and total comprehensive income/(Ioss) of Rs. (598.79) Lakhs for the quarter ended June 30 2021. These unaudited financial information have been furnished to us by the Board of Directors and ur conclusion on the Consolidated Financial Results in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and a joint venture is based solely on such unaudited

Page 3 01'4

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Disclaimer

3i Infotech Limited published this content on 10 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 14:13:07 UTC.


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Sales 2021 6 322 M 84,5 M 84,5 M
Net income 2021 3 912 M 52,3 M 52,3 M
Net cash 2021 2 123 M 28,4 M 28,4 M
P/E ratio 2021 3,08x
Yield 2021 -
Capitalization 5 885 M 78,5 M 78,6 M
EV / Sales 2020 0,89x
EV / Sales 2021 1,57x
Nbr of Employees -
Free-Float 64,7%
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Income Statement Evolution
Managers and Directors
Thompson Gnanam Chief Executive Officer, MD & Director
Ashok Kundan Lal Shah Independent Non-Executive Chairman
Rajeev Madhav Limaye Secretary, Head-Legal & Compliance Officer
Zohra Chatterji Independent Non-Executive Director
Ramni Nirula Director
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