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3i Infotech Ltd.

BSE: 532628 Sector: IT
NSE: 3IINFOTECH ISIN Code: INE748C01020
BSE LIVE 15:40 | 17 Nov 3.83 0
(0.00%)
OPEN

3.84

HIGH

3.97

LOW

3.83

NSE 15:58 | 17 Nov 3.85 0
(0.00%)
OPEN

3.85

HIGH

3.95

LOW

3.80

OPEN 3.84
PREVIOUS CLOSE 3.83
VOLUME 240386
52-Week high 6.79
52-Week low 3.60
P/E
Mkt Cap.(Rs cr) 511
Buy Price 3.84
Buy Qty 545.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.84
CLOSE 3.83
VOLUME 240386
52-Week high 6.79
52-Week low 3.60
P/E
Mkt Cap.(Rs cr) 511
Buy Price 3.84
Buy Qty 545.00
Sell Price 0.00
Sell Qty 0.00

3i Infotech Ltd. (3IINFOTECH) - Chairman Speech

Company chairman speech

3I INFOTECH LIMITED ANNUAL REPORT 2010-2011 CHAIRMAN'S REPORT Dear Members, The global economic environment has shown relatively a stable situation after the turbulence seen during the previous two years. While the United States is showing signs of recovery, some of the European countries continue to face severe fiscal constraints. Talking specifically about IT Industry, we find the overall business environment slowly changing towards more optimism, though it is still far from the growth years it had witnessed prior to the meltdown. The developed markets continue to be sluggish and all research reports indicate that this situation is not going to improve in the near future. The emerging markets on the other hand continue to be on the growth path, although the volume of IT spend in these markets is quite low. Since the IT Industry depends largely on the developed markets for volumes, we have challenges on hand to sustain the growth in the near future. There are three factors which have affected the company during last two years. One, our wellintentioned initiative in the area of e-governance in India by setting up Citizens Service Centers (CSCs) turned out to be not as successful as expected. This resulted in an adverse impact on our resources, which will take some time to recoup. Two, our various acquisitions in BFSI space, while giving large revenues and adequate EBIDTA margins, resulted in strain on our cash-flows and increased interest burden. Three, the meltdown in global financial markets resulted in our FCCBs not being converted into equity, thereby adding to our debt burden. The company has taken these issues in its stride and has boldly faced the challenges posed by these factors, without significantly affecting the revenue stream. The focus of the Company now is on its core strengths of products and services. Exiting from nonremunerative businesses such as CSCs, etc. will help the company in consolidating its position. It will help the company greatly in terms of reduced cost and better cash-flow management. You have firmly stood by the management all these years and, I am sure, you will continue to support the management in its endeavor to work towards building a better shareholder value. Warm Regards, Hoshang N. Sinor Chairman