The company had posted a revenue of Rs 2,454 crore in the year that ended March 2021, and said that it has continued to grow at a healthy clip of 23% in the first half of the current fiscal.
In an interaction with ET, Sudip Singh, MD and CEO at ITC Infotech, said that the company is riding the tailwinds of increasing digitisation at enterprises across the globe due to the Covid-19 pandemic, and that he’s now eyeing inorganic growth opportunities through acquisitions, the work for which has already started.
“ITC Infotech is very interesting. We’re at the lower end of the mid-tier, but we’re backed by a very strong parent. So from an inorganic growth perspective, the valuations are very rich, but we’re not capping our appetite,” said Singh. “Our only access is it focused on capabilities where we believe we are ahead of the curve.”
He added that there is also a buy-in from senior leaders at ITC Ltd. for doing a sort of a large acquisition, even if the focus isn’t topline growth but to just sharpen the capabilities that ITC Infotech has built over the last few years.
Singh, who took over at the helm of ITC Infotech a little under three years ago, says his main focus has largely been on simplifying the company’s structure, delayering the hierarchies, and reducing the number of capabilities and focusing only on those where the company has historically built up strengths in.
“I think that simplicity in the organisation structure and simplicity also in saying keep the clients and employees in the centre are something which we have doubled down. Then finally, and I think this comes from the ITC Group, it comes down to execution,” Singh said.
He added that the company’s new initiative of a work-from-anywhere framework is in keeping with his idea of employees and customers being at the centre of the organisation, allowing flexibility while also ensuring data security and timely delivery of projects.
ITC Infotech, in partnership with Harvard Business School has unveiled a framework that will allow the company’s employees living away from its base centres due to the pandemic, to work from smaller centres that the company will setup at ITC properties across the country.
Singh said the programme has been built using a data-driven structure along with Prithwiraj Choudhury, Lumry Family Associate Professor at Harvard Business School.
