Company adds 139 new customers in FY 17, Crisil upgrades rating to ‘Crisil BB/Stable’, says Padmanabhan Iyer, MD & Global CEO
3i Infotech committed to empowering business transformation, has envisioned major growth plans for itself, in the backdrop of strong tailwinds experienced over six successive quarters through the last two years. With revenue of over INR 1000 crores in the last 4 years, the Company has added 139 new customers in FY 17, growing its customer portfolio to more than 1000 customers across 50 countries in 4 continents.
The Company has implemented a 3 phase ‘Protect-Consolidate-Grow’ approach that has been successful and is reflected in the operating margins of the Company. The approach has helped the organization retain its existing customers and win new ones. While maintaining a stable margin of 18 to 20 per cent, the Company improved its CRISIL rating to ‘CRISIL BB/Stable’. The Company reported a net profit of INR 100.65 crores in FY 2017, with an improved EBITDA over the past 5 years, while achieving an order-book balance of INR 572 crores as on March 31, 2017. The cash flow from operations has been positive and the Company’s net worth as on March 31, 2017 was INR 370.09 crores. The Company continues to be profitable and has reported a net profit in H1-FY2018.
Positioning itself as a one-stop, Next-gen IT enterprise, the organization has a balanced mix of business from across all geographies, globally, with Americas (32%), EMEA (22%) & APAC (46%). The organization continues to strengthen its dominant presence across emerging markets, including MEA, APAC and India with continued investments to grow its US business.
Speaking on this fresh phase of growth in 3i Infotech, and positioning it as a future ready IT enterprise of 2020, Padmanabhan Iyer, Managing Director & Global CEO, 3i Infotech said, “3i Infotech’s core strength lies in strategic engagement with customers offering comprehensive IT solutions, made effective by deep domain expertise. Digital transformation is the base of the Company’s end-to-end solution stack and consulting framework, comprising of IPR based solutions and IT Services. With the impetus to expand the impact of our product portfolio, we are focusing on disruptive technologies, such as – IoT, Blockchain, SMAC, Robotics, AI, Machine Learning, Telematics & Cybersecurity to facilitate expansion of market reach of our customers. The organization, driven by over 4800 talented technology specialists across products and services group, is also geared up culturally and operationally to collaborate and offer composite next generation solutions to its customers.”
With a focus on investment in R&D for its products and services, the Company has more than 20 IPRs and 65 version releases across its product portfolio (Kastle/AMLOCK, MFund, Orion & Premia) which uniquely position 3i Infotech to address dynamic requirements of a variety of industry verticals, predominantly BFSI sector.
To reinforce its customer connect, the Company has re-organized itself into four business units – Banking Products, Insurance & Financial Services Products, ERP Products & IT Services across BFS, IHC, Government and Enterprise. The Company’s business model is a good spread between developed and emerging markets, as well as between IT products and IT services.
