IRIS RegTech FY26 revenue rises 23% to ₹138.2 Cr

Overview: FY26 results and key board decisions

IRIS RegTech Solutions Limited (BSE: 540735 | NSE: IRIS) reported its audited financial results for Q4 FY26 and FY26 ended March 31, 2026. The results were approved at a Board of Directors meeting held on May 15, 2026. The company also filed its earnings call presentation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on May 18, 2026.

Alongside the numbers, the Board approved a set of corporate actions that included incorporating a wholly owned subsidiary in the United Arab Emirates (UAE). It also approved closure of Atanou S.R.L. and an office relocation from Vashi to Turbhe in Navi Mumbai. The Board also approved the re-appointment of key Whole Time Directors.

FY26 financial performance: revenue up, margins lower

On a consolidated basis, IRIS RegTech reported FY26 total revenue of ₹138.2 crore, up 23% year-on-year. EBITDA for FY26 stood at ₹19.8 crore, translating into an EBITDA margin of 14.3%. Profit after tax (PAT) for FY26 was ₹14.2 crore.

The company’s consolidated income statement table in the disclosure shows FY26 total expenses of ₹118.4 crore. Profit before tax (PBT) was ₹17.2 crore and the PAT margin was disclosed at 10% for FY26. The same table also shows that FY25 EBITDA was higher at ₹21.5 crore, with an EBITDA margin of 19%, indicating that profitability as a percentage of revenue moderated in FY26.

Management commentary in the earnings call linked its approach to balancing expenses in the SaaS business with profits from the SupTech business, to reduce volatility in reported numbers. It also described the full-year growth as “steady,” and reiterated focus on scaling products and acceptance in the market.

Q4 FY26 snapshot: revenue and profit improved YoY

For Q4 FY26, consolidated revenue was reported at ₹39.1 crore versus ₹29.7 crore in Q4 FY25. Consolidated net profit for the quarter rose to ₹4.1 crore from ₹2.9 crore in the year-ago quarter. A separate consolidated table in the disclosure also presents Q4 FY26 total revenue at ₹41.6 crore (₹4,160 lakh) and Q4 FY25 total revenue at ₹30.6 crore (₹3,056 lakh).

The company’s consolidated Q4 EBITDA margin was stated at 13.69% versus 21.50% a year ago, while another table shows Q4 FY26 EBITDA margin at 19% on the consolidated income statement presentation. The disclosures therefore contain multiple margin representations across tables, but consistently indicate that Q4 revenue and profit rose year-on-year.

Recurring revenue and ARR: higher mix, enterprise push

IRIS RegTech reported recurring revenue of ₹69.4 crore, contributing 54% of total revenue in FY26 compared with 52% in the previous year. The company also reported that IRIS CARBON Net Annual Recurring Revenue (ARR) grew 32% year-on-year.

In management commentary, the company described FY26 as a milestone year for IRIS CARBON, noting progress in disclosure management and ESG solutions. The call transcript also referenced ARR growth of 33% on the back of wins in the disclosure management space and an opening of the account in ESG reporting solutions, described as an additional module on IRIS CARBON.

The company also stated that it faced delays in the first half of the previous financial year due to customer purchase decision-making, especially in the Indian market. It said it sees “substantial headroom for steady growth” in IRIS CARBON and is working on multiple fronts including direct sales, partner development, marketing, and new product features.

Balance sheet and cash position after TaxTech divestment

A key FY26 theme was the strengthened cash position after the divestment of the TaxTech (GST ASP) business. IRIS RegTech reported cash, cash equivalents and investments at ₹155.4 crore at year-end, compared with ₹56.9 crore in FY25.

The consolidated cash flow disclosure shows net cash inflow from operating activities of ₹105.1 crore in FY26 versus ₹27.4 crore in FY25. It also states that this was supported significantly by proceeds from the sale of the GST ASP business of ₹128.7 crore.

Corporate actions and organisation updates

The Board approved incorporation of a wholly owned subsidiary in the UAE. It also approved closure of Atanou S.R.L. and relocation of the office from Vashi to Turbhe, Navi Mumbai.

Separately, IRIS Data Solutions Private Limited, a wholly owned subsidiary, was incorporated in India on March 5, 2026, and had not commenced operations as of the quarter ended March 31, 2026. The company also disclosed that Mr. Bhaswar Mukherjee was appointed Chairman of the Board at a meeting held on February 14, 2026, and that he is an Independent Director.

Business wins and geographic expansion cues

The company disclosed its “first-ever project win with a Tax regulator in Qatar,” describing it as an extension of its SupTech footprint into a new vertical beyond financial regulators. Management also discussed efforts to compete for larger enterprise accounts, citing progress in breaking into large enterprise customers.

These disclosures sit alongside the UAE subsidiary approval, indicating a focus on expanding presence and capabilities across geographies where regulatory reporting and digital disclosure tools are relevant to both regulators (SupTech) and enterprises (RegTech).

Key numbers at a glance

All figures below are presented in ₹ crore.

Stock performance and market datapoints disclosed

The disclosure included historical stock returns for IRIS RegTech Solutions: 0.0% (1 day), -7.25% (5 days), -7.24% (1 month), -29.84% (6 months), -12.18% (1 year), and +43.67% (5 years). It also presented fundamental statistics including market cap of ₹463 crore, revenue (TTM) of ₹138 crore, and earnings (TTM) of ₹14.2 crore.

Market impact: what changed in FY26

The reported 23% full-year revenue growth to ₹138.2 crore points to continued demand across the company’s SupTech and RegTech offerings, while the recurring revenue mix improved to 54% of total revenue. At the same time, EBITDA margin of 14.3% for FY26 was lower than the 19% margin shown for FY25, reflecting a year where profitability as a percentage of revenue was softer.

The balance sheet position changed materially due to the TaxTech (GST ASP) business divestment, with cash, cash equivalents and investments rising to ₹155.4 crore. The operating cash flow disclosure also shows a significantly higher net inflow in FY26, supported by the divestment proceeds.

Analysis: why the FY26 disclosures matter

Two elements stand out in the FY26 disclosures. First, the company is emphasizing recurring revenue and ARR growth, with IRIS CARBON Net ARR up 32% year-on-year and recurring revenue rising to 54% of total revenue. Second, the company is pairing this with corporate actions that suggest organisational and geographic readiness, including the UAE wholly owned subsidiary approval and the disclosure of a project win in Qatar.

The combination of improving revenue mix and a strengthened cash position creates room for execution choices, but the disclosures also show that margins were lower in FY26 compared with FY25 on the consolidated table. Management commentary indicated an intent to invest with discipline, while still pursuing growth initiatives such as direct sales, partner development, marketing, and new product features.

Conclusion

IRIS RegTech ended FY26 with consolidated revenue of ₹138.2 crore, PAT of ₹14.2 crore, and cash, cash equivalents and investments of ₹155.4 crore following the TaxTech divestment. The Board’s approvals around the UAE subsidiary, office relocation, and other actions were disclosed alongside the results. The company has also highlighted ARR growth in IRIS CARBON and a first project win with a tax regulator in Qatar, with updates likely to be tracked through subsequent quarterly filings and board-led actions already announced.