Intrasoft Technologies Ltd

AGM details

• Date and time: 29 Sep 2026, 3:00 PM IST.
• Mode: VC/OAVM (Video Conferencing and Audio-Visual).
• Remote e-voting: 26–28 Sep 2026; cutoff 5:00 PM 28 Sep.
• Scrutinizer appointed for vote counting.

Key resolutions

• Adopt audited standalone and Consolidated financial statements for year ended 31 Mar 2026.
• Re-appoint Arvind Kajaria, retiring by rotation.

Intrasoft Technologies Ltd — Trading Window Closure Notice

Financial performance

• Consolidated revenue from operations: Rs 53,421.98 lacs, up 5.3% YoY.
• EBITDA: Rs 1,717.91 lacs, down 9.5% YoY.
• PAT: Rs 1,327.70 lacs, up 4.7% YoY.
• Finance costs: Rs 115.22 lacs, down 54.9%.
• Operating cash flow: Rs 1,896.66 lacs; prior-year was Rs 8,260.52.
• EPS (consolidated): Rs 8.14 (basic and diluted).
• MAT credit asset recognized: Rs 1,529.46 lacs in deferred tax assets.
• Total assets: Rs 32,314.69 lacs; total equity: Rs 26,631.12 lacs.
• Dividend status: Board did not propose any dividend for FY2025-26.

Capital structure & liquidity

• Borrowings total: Rs 1,729.15 lacs; non-current Rs 1,629.15; current Rs 100.00.
• Net debt to equity ratio: 0.05x.
• Debt to equity ratio: 0.1469x.
• Cash & equivalents: Rs 255.60 lacs; other bank balances Rs 211.82 lacs.
• Consolidated CFO shown above; positive but lower YoY.
• Dividend declared: none for FY2025-26.
• MAT credits: unutilised Rs 1,529.46 lacs.
• Material equity base strengthened to Rs 26,631.12 lacs.

Subsidiaries & governance

• Material subsidiary: 123Stores, Inc. (Delaware, USA).
• Wholly owned: 123Greetings.com, Inc.; IntraSoft Ventures Pte. Ltd.; One Two Three Greetings India Pvt. Ltd.
• Independent Director Augustus Singhal appointed on 123Stores board.
• Board: 6 directors; 2 executive; 4 independent including one woman director.
• Audit Committee: 5 members; chair Aditya Pachisia; 6 meetings in FY26.
• Secretarial audit: M/s Rathi & Associates; Form MR-3; no material observations.
• Statutory auditors: M/s K.N. Gutgutia & Co.; term through 2029.

Business model & technology

• Business model: multi-channel e-commerce platform serving U.S. market.
• Vendor-direct strategy with platform enhancements and data-led decision making.
• AI and analytics to improve demand forecasting, pricing, inventory, and fulfillment.
• Strategy to scale smarter via technology while maintaining discipline and efficiency.
• Intangible assets under development include AI-based demand system totaling Rs 27,232.18 lacs.

Audits & controls

• Internal controls are adequate with no material weaknesses reported.
• Internal audit by Deoki Bijay & Co. with regular Audit Committee reporting.
• Secretarial audit under MR-3; no qualifications reported.
• Independent auditors: K.N. Gutgutia & Co.; no qualifications in the standalone audit.
• Going concern status affirmed; adequate internal financial controls over financial reporting.

Related party disclosures

• RPT policy updated Feb 2025 per SEBI LODR; available on company website.
• FY26 related party transactions: 123Greetings Rs 350.22; 123Stores Rs 863.01.
• Related party balances: 123Greetings Rs (−)152.72; 123Stores Rs 1,159.96.
• Key management personnel: short-term benefits Rs 241.09; sitting fees Rs 12.20.
• No material unrelated-party transactions observed.

Taxation & MAT credit

• MAT credit asset recognized: Rs 1,529.46 lacs; unutilised MAT credits.
• Income tax expense: Current Rs 42.87; Deferred Rs 119.89; Total Rs 162.76.
• MAT entitlement utilised: Rs 19.61; lapsed/eligible: Rs 111.98.
• Deferred tax assets net: Rs 1,327.92; deferred tax liabilities Rs 201.54.

Corporate actions & outlook

• AGM 29 September 2026 via VC/OAVM; notice available on company site.
• Scheme of Amalgamation: One Two Three Greetings India Pvt Ltd with IntraSoft; approved 3 Dec 2025.
• Appointed Date for scheme: 1 April 2025; effective date subject to regulatory approvals.
• MD and WTD reappointment: approved for three-year terms at AGM.

AGM Details

• Date, time, mode: 29 September 2026, 3:00 PM, VC/OAVM.
• Register of Members and share transfer books closed Sep 23–29, 2026.

Resolutions

• Ordinary: Adopt Audited Standalone and Consolidated Financial Statements for FY 2025-26.
• Ordinary: Re-appoint Arvind Kajaria as Director, retiring by rotation.
• Special: Approve fast-track amalgamation between One Two Three Greetings (India) Private Limited and IntraSoft Technologies Limited.
• Special: Board authorized to file and take actions to implement amalgamation.

AGM Details

• 31st AGM scheduled for Sep 29, 2026 at 3:00 PM via VC/OAVM.
• Register of Members and Share Transfer Books closed Sep 23–29, 2026 (inclusive).
• Cut-off date for remote e-voting eligibility: Sep 22, 2026.
• Remote e-voting window from Sep 26, 2026, 9:00 AM to Sep 28, 2026, 5:00 PM.
• Members voting remotely may attend via VC but cannot vote at AGM.

Reg 29(2) Disclosure Summary

• Target Company: Intrasoft Technologies Limited.
• Disclosing Party: Rishi Kajaria & Sons (HUF); Shikha Kajaria.
• Disclosing Party: Salsett Vinimay Private Limited; Dua Engineering Works Private Limited.
• Transaction Type: Acquisition.
• Pre-Transaction Holding: 1,887,994 shares (11.57%).
• Acquired: 345,000 voting rights (2.12%).
• Mode: Open market.
• Post-Transaction Holding: 2,232,994 shares (13.69%).
• Date of Transaction: 20 August 2026.
• Equity share capital before acquisition: 163,116,780.
• Equity share capital after acquisition: 163,116,780.
• Total diluted share capital after acquisition: 163,116,780.

Business overview

• 123Stores operates as IntraSoft’s Amazon US retailer and e-commerce subsidiary.
• Shifting from inventory-heavy to Vendor Direct model to reduce capital burden.
• Plans to expand catalog from 150,000 to 500,000 products via brand partners.

Operational highlights

• Vendor Direct Model acceleration with revenue share to increase.
• Catalog growth plan to 500k SKUs; brand partner network to broaden.
• Fulfillment partnerships with UPS and FedEx for fast delivery.

Financial performance

• Q1 FY27 revenue 13,963.30; prior 12,899.12.
• PAT 454.52; prior 410.03.
• EBITDA 599.74; prior 490.17.
• PBT 468.49; prior 438.86.

Strategic priorities & outlook

• Scale Vendor Direct Model; increase revenue share.
• Grow brand partner network; catalog expansion.
• Invest in technology to boost efficiency, speed, scalability, and security.

Financial highlights

• Revenue for quarter: L1139.63 Cr, vs L1128.99 Cr in the corresponding quarter.
• Profit after tax: L14.54 Cr, vs L14.10 Cr in the corresponding quarter.
• Commentary: vendor-direct strategy and technology-centric platform with ongoing investments to drive growth.