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.

Xtglobal Infotech Limited has reported a robust financial performance for the first quarter, marked by significant revenue growth and improved profitability. The company's strategic moves, including the integration of Network Objects as a subsidiary, have contributed to its strong showing.

Financial Highlights

Xtglobal Infotech posted consolidated revenue of ₹92.30 crores in Q1, representing an impressive 87.2% year-on-year growth from ₹49.30 crores in the same quarter last year. The company also achieved a 6% quarter-on-quarter growth from ₹87.04 crores in the previous quarter.

The company's profitability saw substantial improvements:

• Consolidated EBITDA rose 61.1% quarter-on-quarter to ₹6.61 crores, with a 7.2% margin improvement.
• Net Profit After Tax (PAT) reached ₹3.73 crores, nearly tripling from the previous quarter and 72.4% higher year-on-year.

Key Growth Drivers

The significant revenue increase was primarily attributed to Network Objects becoming a subsidiary from an associated company, contributing approximately $22 million in annual revenue. This strategic move has expanded Xtglobal's capabilities, particularly in SAP implementations.

During the quarter, Xtglobal added 10 new client accounts, demonstrating its growing market presence. The company also secured a notable win with the Texas Department of Transportation, landing a $7-10 million, 5-year IT modernization project.

Operational Developments

Employee costs increased to ₹46.52 crores due to ESOP expenses and targeted investments in specialized talent. Despite this, the company managed to improve its operational efficiency and margins.

Xtglobal is expanding its service offerings, with a particular focus on AI services. The company has appointed a senior executive to lead its AI team and is actively pursuing AI-related projects. This initiative is expected to enhance the company's Circulus product, a SaaS-based automation platform, with AI capabilities.

Market Outlook and Strategy

Ramarao Mullapudi, CEO, President, and Director of Xtglobal, expressed optimism about the IT services sector recovery, driven by digital transformation and cloud adoption. The company is strategically positioning itself to capture opportunities in high-potential areas such as cloud services, automation, and AI-driven solutions.

Xtglobal is also exploring acquisitions in Europe, Australia, and India to complement its services and expand its geographic presence. The management's focus on operational discipline and targeted positioning is expected to provide a solid foundation for sustained growth in the coming quarters.

Future Prospects

With a strong deal pipeline and expanding capabilities in AI and intelligent automation, Xtglobal Infotech is well-positioned for future growth. The company's entry into government contracts, as evidenced by the recent win with the Texas Department of Transportation, opens up new avenues for expansion.

As Xtglobal continues to leverage its strengths in automation, cloud migration, and sector-specific solutions, it aims to capitalize on the growing demand for digital transformation and AI-driven services in the global IT market.