Bodhtree Consulting Limited is a **CMMI Level 5** technology services provider headquartered in **Hyderabad, India**. Specializing in **IT and IT Enabled Services (ITES)**, the company facilitates digital transformation through cloud computing, advanced analytics, and enterprise application services. Following a successful **Corporate Insolvency Resolution Process (CIRP)** in late 2023, the company is currently undergoing a strategic pivot toward **AI-driven platforms** and **Defence Technology**, backed by a new promoter group and a restructured balance sheet. --- ### **Post-Insolvency Corporate Structure & Ownership** The company’s recent history is defined by its transition through the Insolvency and Bankruptcy Code (IBC). Following a petition by an operational creditor, a Resolution Plan was approved by the **NCLT Hyderabad Bench** on **December 12, 2023**. * **New Promoters:** The company was acquired by **Mr. Santosh Kumar Vangapally** (Successful Resolution Applicant) and **Mr. Prem Anandh Amarnathan**. * **Ownership Stake:** As of **June 2024**, the new promoters hold **93.17%** of the issued and listed capital. * **Board Reconstitution:** The board was entirely reconstituted post-resolution. In **February 2026**, **Mr. Sreenivasa Rao Ravinuthala** was appointed as **Chairman** and **Independent Director** for a five-year term to lead the new governance framework. * **Subsidiary Status:** As of **March 31, 2024**, the company has **no subsidiaries**, having previously divested Bodhtree Human Capital Pvt Ltd. --- ### **Core Service Portfolio & Vertical Specialization** Bodhtree operates as a streamlined ITES provider, focusing on high-value enterprise integrations and digital modernization. * **Cloud & Enterprise Services:** A **Salesforce Gold Cloud Alliance Partner**, the company designs and manages scalable infrastructure. It provides end-to-end implementation, global rollouts, and maintenance for the **Oracle E-Business Suite**. * **Digital Solutions & AI:** Development of AI/ML models, advanced analytics, and intelligent automation. The company is currently deploying an **AI-based platform** featuring **Large Language Model (LLM)** and **Computer Vision** capabilities. * **Product Engineering:** Full-lifecycle application development and **QA/Managed Testing** utilizing agile and scrum methodologies. * **Cybersecurity:** Comprehensive protection and regulatory compliance solutions. * **Target Verticals:** Manufacturing, Healthcare & Life Sciences, HiTech, Financial Services, Retail, Supply Chain, and the Government/Public Sector. --- ### **Strategic Pivot: R&D and Defence Technology** A central pillar of the "New Bodhtree" is a commitment to becoming an **R&D-driven** organization, specifically aligning with the **"Atmanirbhar Bharat"** (Self-Reliant India) initiative. * **R&D Reinvestment:** The company commits an average of **12% of its annual earnings** toward Research & Development. * **Defence Focus:** Strategic R&D is heavily weighted toward emerging demands in **defence technology**, aiming to reduce national reliance on foreign tech imports. * **Inorganic Growth:** In **January 2026**, the Board approved the in-principle merger of **Rzeninfo Solutions Private Limited** to rapidly scale operations and technical capabilities. --- ### **Financial Restructuring & Capital Realignment** To stabilize the business post-CIRP and meet regulatory requirements, the company executed a multi-stage capital restructuring. | Event | Details | | :--- | :--- | | **Initial Capital Reduction** | Cancelled **1,99,58,236** shares; issued **11,73,114** new shares to public shareholders (**1:10 ratio**). | | **Preferential Allotment** | Issued **1,60,00,000** shares to new Promoters at **₹10** par value. | | **Rights Issue (July 2025)** | Allotted **46,92,456** shares at **₹30** (including **₹20** premium) to raise **₹14.08 Crore**. | | **Public Shareholding** | Utilized the Rights Issue to achieve the mandated **25%** minimum public shareholding. | | **Borrowing Capacity** | Increased maximum borrowing limits to **₹100 Crore** to fund future expansion. | --- ### **Operational Metrics & Performance Trends** The company is transitioning from a period of heavy losses toward operational stability. | Metric | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | | **Revenue** | **₹42.79 Crore** | *Transition Period* | | **Net Profit / (Loss)** | **₹17.21 Crore*** | **(₹26.59 Crore)** | | **Debt-Equity Ratio** | **1.79:1** (2023) | **1.07:1** (2022) | | **Bank Guarantees** | **₹6.48 Crore** | **₹7.64 Crore** | *\*Note: FY24 profit includes impacts from the implementation of the Resolution Plan and debt extinguishment.* **Efficiency Targets (by FY 2026-27):** * **Trade Receivable Cycle:** Target reduction from **320 days** to **155 days**. * **Trade Payable Period:** Target optimization to **80 days**. * **Revenue Target:** Management aims for approximately **₹100 Crore** in annual business post-resolution. --- ### **Use of Capital & Vendor Strategy** The **₹13.38 Crore** net proceeds from the 2025 Rights Issue are being deployed through **FY 2026-27**: * **₹5.3 Crore** for **Long-term Working Capital**, digital branding, and sales expansion. * **Capital Expenditure** for enhancing complex technology products. * **Strategic Vendor Shift:** In October 2025, the company switched its primary technology vendor to **Panth Infinity Limited**, securing a **30% cost advantage** on a **₹5.40 Crore** project. --- ### **Risk Factors & Mitigation** #### **Concentration and Dependency** * **Client Concentration:** The **3 largest clients** account for over **90%** of total revenue, creating significant vulnerability. * **Government Contracts:** Heavy reliance on Government of India entities involves risks related to **Performance Bank Guarantees** and the government's right to claim **Intellectual Property Rights**. #### **Financial & Recovery Risks** * **Receivable Uncertainty:** The company is pursuing **₹64.16 Crore** in old trade receivables. Auditors previously qualified **₹23.48 Crore** of this as uncertain, including **₹18.86 Crore** from **Bodhtree Consulting LLC, USA**. * **Related Party Transactions:** The board has approved transaction limits of up to **₹50 Crore** with entities like **Bodhtree Solutions PTE (Singapore)** and **Wilmer Technologies LLP**. #### **Operational & Regulatory Risks** * **Management Transition:** Success is heavily dependent on the new Promoters and KMPs following the **December 2023** board overhaul. * **Historical Non-Compliance:** Past delays in financial filings and a **₹8,00,000 SEBI penalty** (2022) under previous management highlight the need for the current team's focus on rigorous compliance. * **Strategic Focus:** A late-2025 **Agritech pilot project** was terminated early to preserve capital and maintain focus on the core IT/Defence sectors.