IRIS Business Services Ltd

IRIS

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Market Cap

₹ 621 Cr

P/E

72.97

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Investment Checklist

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Performance

MARKET LEADER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

LOW RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

IRIS Business Services Limited is a global RegTech company providing solutions for regulatory compliance, data management, and analytics. It stands as India’s sole listed RegTech and SupTech provider, showcasing expertise in structured data standards like XBRL and SDMX.

The company has built proprietary platforms such as IRIS iFile and IRIS Carbon, enabling enhanced compliance efficiency, data accuracy, and insights for regulators and enterprises worldwide. These platforms are cloud-ready, supporting scalable and secure data management solutions.

IRIS demonstrates significant international presence, engaging with over 30 regulators across 26 countries, highlighting its strong market penetration and global operational footprint.

Despite a challenging fiscal environment, IRIS's revenue from operations grew by 5% YoY in H1 FY26, reflecting robust demand and strategic resilience in its operational model.

Sector

IT - Software

Industry

Computers - Software - Medium / Small

Market Cap

621 Cr

Volatility

Low Risk

P/E Ratio

73.0

Industry P/E

38.4

PEG Ratio

0.4

P/B Ratio

3.3

52W High

573.65

52W Low

229.10

Sales CAGR

23.14%

28.65%

19.59%

10Y

—

Profit CAGR

50.74%

164.50%

52.65%

10Y

—

ROE

TTM

4.51%

15.74%

13.83%

10Y

1.66%

ROCE

TTM

7.04%

19.72%

17.50%

10Y

6.03%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SUBEXLTD	11.94	674 Cr	—	2.08	0.00	-1.61	2.08	-1.00
MINDTECK	206.70	665 Cr	22.47	2.37	0.48	11.07	14.06	9.15
VERTOZ	74.46	635 Cr	23.20	2.77	0.00	11.95	13.40	8.99
ONWARDTEC	274.15	625 Cr	15.19	2.69	1.82	17.71	20.39	12.05
IRIS	302.10	621 Cr	72.97	3.29	0.00	4.51	7.04	49.37
TERASOFT	463.60	581 Cr	35.57	4.35	0.00	12.23	16.83	5.63
DIGISPICE	24.47	574 Cr	40.11	2.44	0.00	6.30	11.97	-2.44

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	21	24	27	30	28	31	33	35	30	29
Expenses	18	21	24	24	24	26	28	30	30	28
Operating Profit	2.44	2.86	3.50	6.40	3.75	5.04	5.19	5.02	0.01	0.15
OPM %	11.83	11.93	12.80	21.09	13.56	16.34	15.81	14.49	0.03	0.53
Other Income	0.10	0.20	0.10	0.25	0.53	0.69	0.49	0.83	1.20	2.54
Interest	0.24	0.26	0.29	0.36	0.18	0.22	0.19	0.20	0.16	0.08
Depreciation	1.14	1.15	1.24	0.98	0.47	0.53	0.52	0.68	0.73	0.51
Profit Before Tax	1.16	1.65	2.08	5.32	3.62	4.98	4.98	4.97	0.32	2.10
Tax %	19.83	16.97	14.90	11.28	20.44	21.89	27.91	42.05	31.25	12.38
Net Profit	0.93	1.37	1.76	4.72	2.88	3.89	3.59	2.88	0.22	1.84
EPS in Rs	0.45	0.66	0.85	2.27	1.39	1.91	1.72	1.36	0.11	56.85

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	27	35	40	51	57	61	74	102	—	128
Expenses	33	35	41	43	46	54	64	87	0.00	113
Operating Profit	-5.23	0.26	-0.74	7.68	11	7.18	9.60	15	0.00	15
OPM %	-19.14	0.75	-1.85	15.07	19.91	11.72	13.04	14.88	—	11.91
Other Income	-0.18	0.64	1.07	0.58	0.22	0.74	1.33	0.66	0.00	3.21
Interest	2.08	2.00	1.60	1.55	1.71	1.07	1.02	1.15	—	0.77
Depreciation	4.63	4.49	4.09	6.16	6.27	5.23	4.71	4.52	—	2.46
Profit Before Tax	-12	-5.59	-5.36	0.54	3.61	1.63	5.20	10	—	15
Tax %	12.55	7.65	-13.91	14.98	-14.63	38.19	17.62	13.94	—	30.62
Net Profit	-11	-5.16	-6.10	0.46	4.14	1.01	4.29	8.79	—	11
EPS in Rs	—	—	—	—	—	0.48	2.09	4.23	6.38	60.04
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6.94	19	19	19	19	19	19	19	—
Reserves	12	11	5.28	5.75	7.10	8.04	12	22	—
Borrowings	15	14	11	8.75	6.23	6.62	5.71	6.47	0.00
Other Liabilities	25	30	29	24	26	26	33	29	0.00
Total Liabilities	60	73	63	57	58	60	70	77	—
Fixed Assets	20	19	33	27	22	17	14	13	17
CWIP	18	17	0.00	0.33	0.00	0.39	1.61	2.94	3.85
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	21
Other Assets	22	37	31	30	36	43	55	61	83
Total Assets	60	73	63	57	58	60	70	77	125

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3.73	-3.48	0.82	1.80	12	-0.41	5.71	12	28
Cash from Investing Activity	-5.25	-2.65	-0.01	-0.41	-3.23	-0.04	-1.92	-3.30	-27
Cash from Financing Activity	-4.37	11	-3.72	-3.07	-4.42	0.27	-1.69	-1.26	17
Net Cash Flow	-5.89	5.02	-2.91	-1.67	4.14	-0.19	2.10	7.14	18

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Jul 2024	Sep 2024	Dec 2024	Jan 2025	Mar 2025	Jun 2025	Sep 2025
Promoters	37.30%	37.30%	37.23%	37.10%	37.10%	36.09%	35.79%	35.63%	34.68%	34.68%	34.68%	34.65%
FIIs	0.00%	0.00%	0.19%	0.15%	0.08%	0.08%	0.00%	1.00%	1.42%	1.42%	0.50%	1.73%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	2.73%	2.88%	2.72%	11.08%	11.08%	11.08%	12.79%
Public	62.70%	62.70%	62.59%	62.75%	62.82%	61.10%	61.33%	60.65%	52.82%	52.82%	53.73%	50.82%
Total Shareholders	4,308	5,446	5,130	6,362	7,257	7,247	6,948	7,893	9,501	9,439	9,989	10,912

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Oct 09, 2023	Subramaniam swaminathan	Insider - Promoter & Director	Revoke	102.65	14.08 Cr	13,71,650	7.08
Oct 09, 2023	Deepta rangarajan	Insider - Promoter & Director	Revoke	102.65	4.45 Cr	4,33,816	2.24
Oct 09, 2023	Balachandran krishnan	Insider - Promoter & Director	Revoke	102.65	3.40 Cr	3,31,200	1.71
Aug 18, 2023	Ashok kumar jain	Bulk	Buy	121.47	1.21 Cr	1,00,000	0.48
Jun 19, 2023	Subramaniam swaminathan	Insider - Promoter & Director	Disposal	—	—	1,00,000	0.51

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Investor Meeting

18 hours ago

Investor Meet Scheduled

The company has announced a schedule for upcoming Analyst and Investor meetings on December 18, 2025, in Navi Mumbai.

Contract Award

4 days ago

IRIS RegTech Secures International Contract Extension

IRIS RegTech Solutions has confirmed the extension of its engagement for the CODI deposit insurance solution with Xpert Decisions Systems, enhancing their partnership.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q2 FY24

Investor Presentation

Q4 FY23

Investor Presentation

Q2 FY23

Investor Presentation

Q4 FY22

Showing 1 - 8 of 18

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Oscillators

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Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

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Bullish

Overall

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Bullish

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	21	24	27	30	28	31	33	35	30	29
Expenses	18	21	24	24	24	26	28	30	30	28
Operating Profit	2.44	2.86	3.50	6.40	3.75	5.04	5.19	5.02	0.01	0.15
OPM %	11.83	11.93	12.80	21.09	13.56	16.34	15.81	14.49	0.03	0.53
Other Income	0.10	0.20	0.10	0.25	0.53	0.69	0.49	0.83	1.20	2.54
Interest	0.24	0.26	0.29	0.36	0.18	0.22	0.19	0.20	0.16	0.08
Depreciation	1.14	1.15	1.24	0.98	0.47	0.53	0.52	0.68	0.73	0.51
Profit Before Tax	1.16	1.65	2.08	5.32	3.62	4.98	4.98	4.97	0.32	2.10
Tax %	19.83	16.97	14.90	11.28	20.44	21.89	27.91	42.05	31.25	12.38
Net Profit	0.93	1.37	1.76	4.72	2.88	3.89	3.59	2.88	0.22	1.84
EPS in Rs	0.45	0.66	0.85	2.27	1.39	1.91	1.72	1.36	0.11	56.85

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	27	35	40	51	57	61	74	102	—	128
Expenses	33	35	41	43	46	54	64	87	0.00	113
Operating Profit	-5.23	0.26	-0.74	7.68	11	7.18	9.60	15	0.00	15
OPM %	-19.14	0.75	-1.85	15.07	19.91	11.72	13.04	14.88	—	11.91
Other Income	-0.18	0.64	1.07	0.58	0.22	0.74	1.33	0.66	0.00	3.21
Interest	2.08	2.00	1.60	1.55	1.71	1.07	1.02	1.15	—	0.77
Depreciation	4.63	4.49	4.09	6.16	6.27	5.23	4.71	4.52	—	2.46
Profit Before Tax	-12	-5.59	-5.36	0.54	3.61	1.63	5.20	10	—	15
Tax %	12.55	7.65	-13.91	14.98	-14.63	38.19	17.62	13.94	—	30.62
Net Profit	-11	-5.16	-6.10	0.46	4.14	1.01	4.29	8.79	—	11
EPS in Rs	—	—	—	—	—	0.48	2.09	4.23	6.38	60.04
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6.94	19	19	19	19	19	19	19	—
Reserves	12	11	5.28	5.75	7.10	8.04	12	22	—
Borrowings	15	14	11	8.75	6.23	6.62	5.71	6.47	0.00
Other Liabilities	25	30	29	24	26	26	33	29	0.00
Total Liabilities	60	73	63	57	58	60	70	77	—
Fixed Assets	20	19	33	27	22	17	14	13	17
CWIP	18	17	0.00	0.33	0.00	0.39	1.61	2.94	3.85
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	21
Other Assets	22	37	31	30	36	43	55	61	83
Total Assets	60	73	63	57	58	60	70	77	125

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3.73	-3.48	0.82	1.80	12	-0.41	5.71	12	28
Cash from Investing Activity	-5.25	-2.65	-0.01	-0.41	-3.23	-0.04	-1.92	-3.30	-27
Cash from Financing Activity	-4.37	11	-3.72	-3.07	-4.42	0.27	-1.69	-1.26	17
Net Cash Flow	-5.89	5.02	-2.91	-1.67	4.14	-0.19	2.10	7.14	18

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SUBEXLTD	11.94	674 Cr	—	2.08	0.00	-1.61	2.08	-1.00
MINDTECK	206.70	665 Cr	22.47	2.37	0.48	11.07	14.06	9.15
VERTOZ	74.46	635 Cr	23.20	2.77	0.00	11.95	13.40	8.99
ONWARDTEC	274.15	625 Cr	15.19	2.69	1.82	17.71	20.39	12.05
IRIS	302.10	621 Cr	72.97	3.29	0.00	4.51	7.04	49.37
TERASOFT	463.60	581 Cr	35.57	4.35	0.00	12.23	16.83	5.63
DIGISPICE	24.47	574 Cr	40.11	2.44	0.00	6.30	11.97	-2.44

Overview

Detailed Summary

IRIS demonstrates significant international presence, engaging with over 30 regulators across 26 countries, highlighting its strong market penetration and global operational footprint.

Despite a challenging fiscal environment, IRIS's revenue from operations grew by 5% YoY in H1 FY26, reflecting robust demand and strategic resilience in its operational model.

Sector

IT - Software

Industry

Computers - Software - Medium / Small

Market Cap

621 Cr

Volatility

Low Risk

P/E Ratio

73.0

Industry P/E

38.4

PEG Ratio

0.4

P/B Ratio

3.3

52W High

573.65

52W Low

229.10

Sales CAGR

23.14%

28.65%

19.59%

10Y

—

Profit CAGR

50.74%

164.50%

52.65%

10Y

—

ROE

TTM

4.51%

15.74%

13.83%

10Y

1.66%

ROCE

TTM

7.04%

19.72%

17.50%

10Y

6.03%