i think you are right about the degrowth, what went wrong is not completely addressed?
In ITC Limited’s Annual Report for fiscal year 2024-25, Blazeclan Technologies Private Limited’s contribution is described as follows:
- Acquisition & Scope: During the year, ITC Infotech India Limited (a subsidiary of ITC) acquired Blazeclan Technologies Private Limited, a leading cloud consulting firm, to enhance its cloud service capabilities.
- Consolidated Results (for period post-acquisition):
- Revenue: ₹98.43 crores
- Net Loss: ₹3.38 crores
These results are consolidated from 1st October 2024 (date of acquisition) through to year-end. Post-acquisition, 10 wholly-owned foreign subsidiaries of Blazeclan also became step-down subsidiaries of ITC Infotech.
- Strategic Rationale: Blazeclan brings deep expertise in Cloud Migration, Digital Services, Cloud Consulting, and Data Analytics/Insights across major cloud platforms (AWS, Azure, GCP). This strengthens ITC Infotech’s “Cloud services” line by combining resources and broadening digital transformation offerings for clients.
- Financial Footprint in AR: The annual report specifically notes that Blazeclan contributed ₹98.43 crores in revenue but registered a net loss of ₹3.38 crores, reflecting costs and investments related to integration and business expansion during the initial phase post-acquisition.
In summary, Blazeclan’s financials contributed to the consolidated ITC Infotech group figures from Q3 FY25 onward, reflecting both strategic resource enhancement and initial post-acquisition integration costs.
My perspectives
- ITC Infotech contributed approximately 5.2% of ITC Limited’s total consolidated revenues for the year 2024-25.
will need to wait for another year or 2, to understand the expertise added by this acquisition.