3i Infotech Annual Report: Navigating a Paradigm Shift

The 3i Infotech Annual Report 2022-23, is a comprehensive document outlining the company's remarkable journey of transformation and its bold vision for the future.

Key Highlights from the 3i Infotech Annual Report

• A paradigm shift unfolds for 3i Infotech, transitioning from a legacy product-centric business to an integrated provider of next-generation products and services.
• A debt-free organization with a strong focus on its service portfolio, particularly in cloud computing and cybersecurity.
• The company is aiming to drive sustainable, scalable, and predictable business models, positioning itself to lead advancements in Edge Computing.
• The "RUN, GROW, BUILD" strategy forms the bedrock of the company's approach, driving its ambition to become a billion-dollar organization by 2030.
• A people-first culture is cultivated, prioritizing the well-being of employees, fostering a 'second family' bond, and empowering them to grow professionally.
• The annual report presents a detailed overview of the company's product portfolio, which includes cloud-first solutions, edge services, future technologies, Application Automation Analytics (AAA), digital Business Process Services (BPS), and Digital Infrastructure Managed Services (IMS).
• The financial statements reveal a positive PAT (Profit After Tax) and strong growth in Indian operations, demonstrating the company's commitment to a profitable and scalable business model.
• The report highlights the global presence of 3i Infotech, spanning the Asia Pacific, Middle East, Africa, Europe, and North America, and its focus on serving clients across various sectors, including information technology, banking, retail, insurance, telecom, media, entertainment, government, capital markets, manufacturing, and healthcare.
• 3i Infotech's corporate governance practices are detailed in the report, emphasizing transparency, accountability, and compliance.

3i Infotech's Transformative Journey

The annual report delves into the company's journey over the past three decades, highlighting its transformation from a subsidiary of ICICI Limited to a publicly listed company.

• Incorporated in 1993 as a wholly owned subsidiary of ICICI Limited.
• Entered the IT services business in 1999.
• Ceased to be a subsidiary of ICICI Limited in 2002 when ICICI divested majority of 3i Infotech's equity shares.
• Went public in 2011.
• Undertook debt restructuring in 2011 by working with the Corporate Debt Restructuring (CDR) cell.

Embracing Innovation and Sustainability

3i Infotech highlights its commitment to continuous learning, innovation, and sustainability, emphasizing its dedication to empowering businesses and enriching lives.

• The company actively challenges the status quo by fostering an environment where employees feel safe to voice concerns and champion improvements.
• A "Can-do" attitude and a readiness to take swift action are encouraged, ensuring agility and responsiveness to client needs.
• The company prioritizes customer focus, striving to understand client pain points and deliver targeted solutions that deliver tangible value.
• A strong emphasis is placed on employee centricity, providing resources and opportunities for professional development and personal growth.
• 3i Infotech's "RUN, GROW, BUILD" strategy forms the bedrock of its approach, guiding it towards its ambition to become a billion-dollar organization by 2030.
• The "RUN" strategy is rooted in enterprise services, ensuring smooth operations, IT infrastructure management, customer support, and regulatory compliance.
• The "GROW" strategy focuses on expanding into new markets, prioritizing revenue growth, and aiming for a larger market share.
• The "BUILD" strategy is dedicated to long-term growth investments, including R&D, talent acquisition, and strategic initiatives to enhance profitability, gain competitive advantages, and increase market capitalization.
• The annual report highlights the company's dedication to responsible business conduct, emphasizing its commitment to ethical behavior, environmental protection, and social responsibility.
• The company’s BRSR (Business Responsibility and Sustainability Report) details its approach to these principles, covering areas such as customer privacy, data security, conflict of interest, diversity, and responsible AI.

Leading the Digital Transformation Journey

3i Infotech is actively shaping the digital transformation landscape, leveraging emerging technologies and strategic initiatives.

• The company is aggressively pursuing growth in high-potential markets, including the Asia Pacific, Europe, and the US, tailoring its strategies to cater to the unique needs of these regions.
• The annual report details the company’s vision for the future, emphasizing its commitment to capitalizing on emerging opportunities and consolidating its leadership position in the market.
• 3i Infotech is uniquely positioned to help businesses navigate the complexities of the digital era, offering tailored solutions to meet their specific transformation requirements.
• The company's dedication to cloud computing is evident through its specialized capabilities, like NuRe 3i and NuRe 3i+, which facilitate comprehensive cloud life cycle management and provide robust cybersecurity solutions.
• 3i Infotech recognizes the transformative potential of 5G and its ability to support the Internet of Things (IoT) revolution. The company’s 3i-5GTM intelligent suite offers secure and future-ready 5G solutions, empowering accelerated access for distributed workforces, IoT devices, and mission-critical infrastructure.

3i Infotech's Financial Performance and Outlook

The annual report provides a detailed financial overview of the company’s performance, including its consolidated financial statements and a summary of key financial ratios.

• The report reveals a positive PAT (Profit After Tax) and strong growth in Indian operations, demonstrating the company’s commitment to establishing a profitable, predictable, and scalable business model.
• The report showcases 3i Infotech’s dedication to a strong financial foundation, highlighting its debt-free status, strategic investments in emerging service areas, and a focus on revenue generation through the monetization of its offerings.
• The report outlines the company’s strategic priorities for the upcoming fiscal year (FY 2023-24), including a focus on execution excellence, establishing a robust business model for shareholders, and cultivating a performance-driven culture.
• The annual report further emphasizes 3i Infotech’s ambition to become a billion-dollar organization, outlining its strategy for accelerating growth, disrupting the market, and establishing a dominant leadership position.

Corporate Governance and Shareholder Information

The 3i Infotech Annual Report also highlights the company's commitment to good corporate governance, transparency, and accountability. The report includes details on the board of directors, committees, policies, and disclosures related to related-party transactions, risk management, and stakeholder engagement.

• The report details the composition of the board of directors, highlighting the expertise and experience of its members, including the appointment and re-appointment of directors.
• The report provides information on the various committees of the board, including the audit committee, nomination and remuneration committee, stakeholders’ relationship committee, risk management committee, and the corporate social responsibility committee.
• The report outlines the company's policies on directors' appointment and remuneration, whistleblowing, insider trading, and related-party transactions.
• The report also provides information on the company's financial risk management practices, outlining its exposure to market risks, credit risks, liquidity risks, and the steps taken to mitigate these risks.
• The annual report includes a section on shareholder information, providing details on the company's shareholding pattern, voting procedures, and the process for attending the AGM (Annual General Meeting) through VC/OAVM (Video Conferencing/Other Audio-Visual Means).

Conclusion

The 3i Infotech Annual Report 2022-23 underscores the company's strategic direction, financial performance, and commitment to good corporate governance. With a clear vision for the future, 3i Infotech is well-positioned to capitalize on emerging opportunities, drive growth, and achieve its ambitious goals. As a leading provider of cloud computing and digital transformation solutions, the company is poised to play a significant role in shaping the technology landscape.