Xtglobal Infotech Limited has announced its entry into the Australian market with a new contract for accounting services. This marks a significant milestone for the company as it expands its international footprint.

Contract Details

The Hyderabad-based IT services company has secured a contract with an Australian entity to provide accounting services. Key details of the agreement include:

• Initial term of 3 months, with automatic renewal provisions for up to 3 years
• Expected monthly revenue of AUD 5,350.00 (approximately ₹2.94 lakh)
• Contract effective from September 30, 2025

Strategic Expansion

This contract represents Xtglobal Infotech's first foray into the Australian market, potentially opening doors for further growth in the region. The company's ability to secure an international client for accounting services demonstrates its capabilities in financial outsourcing and its commitment to expanding its service offerings globally.

Management Statement

In a regulatory filing, Xtglobal Infotech stated, "The Company has bagged its first order from Australia." The disclosure was made in compliance with SEBI regulations and the recent circular on continuous disclosure requirements.

Financial Implications

While the contract's initial value may seem modest, it provides Xtglobal Infotech with a strategic entry point into the Australian market. The potential for automatic renewals up to 3 years suggests the possibility of a long-term relationship with the client, which could lead to additional opportunities in the future.

Market Response

Investors and market analysts will likely watch closely to see how this international expansion affects Xtglobal Infotech's overall growth strategy and financial performance in the coming quarters.

The company has assured that this contract does not fall under related party transactions, and neither the promoter nor the promoter group has any interest in the Australian entity awarding the contract.

As Xtglobal Infotech takes this step into the international arena, it sets the stage for potential future growth and diversification of its client base beyond Indian borders.

Xtglobal Infotech Limited, a prominent player in the IT/ITES sector, has announced significant corporate decisions following its recent Board of Directors meeting. The company has set the stage for its 37th Annual General Meeting (AGM) and approved several key measures that could shape its future governance and investment landscape.

AGM and Annual Report

The Board has approved convening the 37th AGM on September 29, 2025, at 10:00 AM IST. The meeting will be conducted through video conferencing, ensuring wider accessibility for shareholders. Additionally, the company has approved the Annual Report for the fiscal year 2024-25, encompassing crucial documents such as the Board's Report, Corporate Governance Report, and MD&A Report.

Board Composition Changes

Several changes to the company's board composition have been approved:

• Mr. Srinivasa Raju Kosuri has been re-appointed as a Director liable to retire by rotation.
• Mr. Jagannatha Prasad Malireddy has been re-appointed as a Non-Executive Director, with his term extending to the conclusion of the 38th AGM.
• The Board noted the cessation of Mr. Srinivasa Pendyala as an Independent Director, effective September 22, 2025, upon completion of his tenure.

Enhancing Foreign Investment Limits

The Board has recommended enhancing foreign investment limits up to 100.00% of the company's paid-up equity share capital under the automatic route. This decision aligns with the norms applicable to the IT/ITES sector and will be subject to shareholder approval.

Related Party Transactions

The Board has approved related party transactions for the fiscal year 2025-26 with its subsidiaries, XTGlobal, Inc., USA and Network Objects, Inc., USA. These transactions are stated to be in the ordinary course of business and on an arm's length basis.

AGM Logistics and Compliance

To facilitate the smooth conduct of the AGM:

• M/s. VCSR & Associates, Company Secretaries, have been appointed as scrutinizers for the e-voting and poll process.
• KFin Technologies Limited has been designated as the authorized agency to provide e-voting and video conferencing facilities for the AGM.

Secretarial Audit Report

The Secretarial Audit Report for FY 2024-25, issued by M/s. VCSR & Associates, Company Secretaries, contained no qualifications, reservations, or adverse remarks, reflecting positively on the company's compliance standards.

The Board meeting, which deliberated on these matters, commenced at 10:00 AM and concluded at 10:45 AM on September 5, 2025.

These developments at XTGlobal Infotech Limited signify the company's focus on corporate governance, shareholder engagement, and strategic growth. The decisions taken, particularly regarding foreign investment limits and board composition, may have significant implications for the company's future trajectory in the IT/ITES sector.