IRIS RegTech Solutions Ltd.

•

irisbusiness.comBSE: 540735NSE: IRIS

Market Cap₹ 522 Cr.

Current Price

High / Low₹ 388 / 203

Stock P/E32.8

Book Value₹ 95

Price to Book2.17

Dividend Yield0.00 %

ROCE14.7 %

ROE12.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • SupTech: 59.8% • RegTech: 35.4% • Others: 3.3%

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Company has delivered good profit growth of 28.5% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 23.0%
Company has delivered good sales growth of 17.9% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.51x)

CONS

A large part of profit comes from other income (47.1% of PBT)
Promoter holding has decreased over last 2 years: -2.5pp
Working capital days have increased from 208 to 336 days
Operating margins have contracted to 7.9% from 15.1%
Though reporting repeated profits, the company pays out little dividend (0.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TCS	2312.00	16.80	836501.83	4.76	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1128.00	15.11	457768.62	4.26	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1310.25	20.41	355557.97	4.12	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	176.60	13.23	174910.92	6.23	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1597.00	30.48	156527.36	3.19	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4516.00	25.61	133954.19	1.66	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	12050.00	30.75	104935.17	3.32	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5624.00	46.13	88718.60	0.71	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1963.70	49.51	86987.61	0.80	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2457.05	24.55	46899.54	2.52	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3498.50	28.11	37111.23	1.66	3571.00	1029.71	29401.00	1014.73	27.70	18.65
12.	IRIS	253.85	4.17	522.12	0.00	-0.97	-533.48	32.75	9.69	12.63	-5.08

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	19	23	26	29	26	26	28	28	28	27	34	38	31
	17	20	23	23	22	21	22	23	28	27	29	33	34
Operating Profit	2	3	3	6	3	5	5	5	-0	0	5	5	-3
OPM %	11.95%	11.75%	12.83%	21.49%	13.37%	18.05%	18.89%	19.08%	-0.82%	0.33%	14.43%	13.98%	-10.42%
	0	0	0	0	1	1	0	1	1	6	3	2	3
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	0	0	0	0	1	0	1	1	1
Profit before Tax	1	1	2	5	3	5	5	6	0	6	7	7	-0
Tax %	21.30%	18.24%	15.82%	9.65%	20.60%	21.82%	27.91%	41.08%	62.50%	14.31%	25.79%	7.71%	-0.00%
Net Profit	1	1	2	5	3	4	4	3	0	5	5	6	-0
	0.44	0.63	0.85	2.37	1.38	1.90	1.89	1.60	0.02	2.30	2.52	3.14	-0.21

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	27	35	40	49	54	56	68	97	104	123	130
	32	34	40	40	42	49	59	82	86	113	123
Operating Profit	-5	1	0	9	12	7	9	14	19	10	7
OPM %	-16.87%	1.48%	0.12%	17.87%	21.61%	12.09%	13.33%	14.97%	17.91%	7.95%	5.47%
	-0	1	1	1	1	1	1	1	2	13	14
Interest	2	2	2	2	2	1	1	1	1	1	1
Depreciation	5	4	4	6	6	5	5	4	2	2	3
Profit before Tax	-12	-5	-5	2	4	1	5	10	19	20	19
Tax %	13.52%	8.03%	-15.93%	5.12%	-12.51%	47.44%	19.35%	13.55%	29.00%	17.57%	16.41%
Net Profit	-10	-5	-5	2	5	1	4	8	13	17	16
EPS	-7.21	0.00	0.00	0.00	2.52	0.35	1.90	4.28	6.51	8.09	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 18%
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 91%
3 Years:: 220%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 36%
1 Year:: -22%

RETURN ON EQUITY

10 Years:: 1%
5 Years:: 14%
3 Years:: 19%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	7	19	19	19	19	19	19	19	21	21
	13	12	7	8	11	11	15	23	55	176
	18	16	13	11	6	7	6	6	4	1
Trade Payables	3	4	3	2	1	2	1	2	3	3
	20	24	23	19	22	21	28	24	39	47
Total Liabilities	60	75	65	59	59	60	69	75	121	247
	20	19	33	27	22	17	14	13	17	19
	1	1	2	3	3	3	3	3	24	63
	0	0	0	0	0	0	0	21	29	25
Cash & Bank	0	8	6	1	7	5	6	11	26	35
	39	47	25	28	27	34	47	28	26	105
Total Assets	60	75	65	59	59	60	69	75	121	247

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4	-2	2	4	11	-2	5	10	25	-23
Cash from Investing	-5	-3	-1	-1	-3	0	-2	-5	-27	-116
Cash from Financing	-4	11	-4	-3	-4	0	-2	-1	18	-3
	-6	5	-3	-2	3	-1	1	4	15	-18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	-14.42	-2.59	-2.87	0.80	2.51	0.35	1.90	4.28	6.51	8.09
Book Value (₹)	29.06	16.57	13.70	14.49	15.60	15.96	17.57	21.86	36.80	95.37
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	-3.89	-0.21	-0.71	4.06	5.82	3.06	4.32	6.57	7.25	9.10
PROFITABILITY
Operating Margin %	-16.33%	3.47%	2.51%	19.02%	22.61%	13.44%	15.13%	14.97%	17.91%	7.95%
Net Margin %	-36.82%	-14.02%	-13.59%	3.09%	8.81%	1.20%	5.44%	8.56%	12.81%	13.53%
ROE %	-39.76%	-19.03%	-18.98%	5.67%	16.70%	2.24%	11.37%	21.72%	22.68%	12.25%
ROCE %	-22.18%	-7.82%	-7.13%	8.05%	15.88%	6.38%	14.35%	24.09%	30.12%	14.67%
	-16.08%	-7.22%	-7.76%	2.44%	8.09%	1.14%	5.72%	11.52%	13.62%	9.03%
EFFICIENCY
Debtor Days	90	110	115	106	100	91	104	84	87	80
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	90	110	115	106	100	91	104	84	87	80
FINANCIAL HEALTH
Debt to Equity (x)	0.87x	0.51x	0.50x	0.40x	0.20x	0.21x	0.16x	0.13x	0.05x	0.01x
Interest Coverage (x)	-4.56x	-1.67x	-1.94x	2.03x	3.48x	2.23x	5.66x	9.69x	26.45x	39.85x
	0.70x	1.05x	0.96x	1.17x	1.38x	1.62x	1.77x	2.20x	2.57x	3.68x
GROWTH
Revenue Growth %	-15.36%	28.47%	14.29%	22.53%	10.34%	4.11%	20.29%	43.38%	7.81%	17.85%
Operating Profit Growth %	-130.14%	127.32%	-17.55%	829.98%	31.20%	-38.14%	35.42%	48.01%	39.52%	-8.53%
Net Profit Growth %	-74.08%	51.10%	-10.83%	127.82%	214.98%	-85.78%	444.22%	125.48%	61.25%	24.53%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	125.48%	52.00%	24.35%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	26.83x	59.51x	25.52x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.26x	10.53x	2.17x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	14.37x	36.64x	20.24x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	37.10	35.79	35.63	34.68	34.68	34.65	34.63	34.63	34.63
	0.08	0.00	1.00	1.42	0.50	1.73	1.73	1.87	1.76
	0.00	2.73	2.72	5.29	5.29	5.29	5.37	5.29	4.17
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	62.82	61.48	60.65	58.61	59.52	58.33	58.26	58.20	59.43

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-02 - IRIS RegTech Solutions Limited has informed the Exchange about Schedule of meet

2026-08-21

Acquisition

2026-08-21 - IRIS RegTech Solutions Limited has informed the Exchange about Incorporation of Wholly Owned Subsidiary.

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - IRIS RegTech Solutions Limited has informed the Exchange about Schedule of meet.

2026-08-14

Shareholders meeting

2026-08-14 - IRIS RegTech Solutions Limited has submitted the Exchange a copy Srutinizers report of 26th Annual General Meeting held on August 14, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-14

Shareholders meeting

2026-08-14 - IRIS RegTech Solutions Limited has informed the Exchange about the proceedings Shareholders Meeting.

2026-08-11

Credit Rating- New

2026-08-11 - IRIS RegTech Solutions Limited has informed the Exchange about Credit Rating- New

2026-08-08

Copy of Newspaper Publication

2026-08-08 - IRIS RegTech Solutions Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-07

Press Release

2026-08-07 - IRIS RegTech Solutions Limited has informed the Exchange regarding a press release dated August 07, 2026, titled "IRIS RegTech Reports 33% YoY Topline Growth in Q1FY27; Continues Momentum Across RegTech and SupTech.".

2026-08-07

General Updates

2026-08-07 - IRIS RegTech Solutions Limited has informed the Exchange about grant of ESOPs to eligible employees.

News

Recent coverage and analyst commentary for IRIS

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IRIS RegTech Solutions Ltd.

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Free 5nance Account

Name

TCS

2312.00

16.80

836501.83

4.76

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1128.00

15.11

457768.62

4.26

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1310.25

20.41

355557.97

4.12

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

176.60

13.23

174910.92

6.23

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1597.00

30.48

156527.36

3.19

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4516.00

25.61

133954.19

1.66

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

12050.00

30.75

104935.17

3.32

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5624.00

46.13

88718.60

0.71

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1963.70

49.51

86987.61

0.80

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2457.05

24.55

46899.54

2.52

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3498.50

28.11

37111.23

1.66

3571.00

1029.71

29401.00

1014.73

27.70

18.65

IRIS

253.85

4.17

522.12

0.00

-0.97

-533.48

32.75

9.69

12.63

-5.08

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-0

-3

OPM %

11.95%

11.75%

12.83%

21.49%

13.37%

18.05%

18.89%

19.08%

-0.82%

0.33%

14.43%

13.98%

-10.42%

Interest

Depreciation

Profit before Tax

-0

Tax %

21.30%

18.24%

15.82%

9.65%

20.60%

21.82%

27.91%

41.08%

62.50%

14.31%

25.79%

7.71%

-0.00%

Net Profit

-0

0.44

0.63

0.85

2.37

1.38

1.90

1.89

1.60

0.02

2.30

2.52

3.14

-0.21

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

104

123

130

113

123

Operating Profit

-5

OPM %

-16.87%

1.48%

0.12%

17.87%

21.61%

12.09%

13.33%

14.97%

17.91%

7.95%

5.47%

-0

Interest

Depreciation

Profit before Tax

-12

-5

Tax %

13.52%

8.03%

-15.93%

5.12%

-12.51%

47.44%

19.35%

13.55%

29.00%

17.57%

16.41%

Net Profit

-10

-5

EPS

-7.21

0.00

2.52

0.35

1.90

4.28

6.51

8.09

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

176

Trade Payables

Total Liabilities

121

247

Cash & Bank

105

Total Assets

121

247

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-2

-23

Cash from Investing

-5

-3

-1

-3

-2

-5

-27

-116

Cash from Financing

-4

-3

-4

-2

-1

-3

-6

-3

-2

-1

-18

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

-14.42

-2.59

-2.87

0.80

2.51

0.35

1.90

4.28

6.51

8.09

Book Value (₹)

29.06

16.57

13.70

14.49

15.60

15.96

17.57

21.86

36.80

95.37

Dividend per Share (₹)

0.00

Cash EPS (₹)

-3.89

-0.21

-0.71

4.06

5.82

3.06

4.32

6.57

7.25

9.10

PROFITABILITY

Operating Margin %

-16.33%

3.47%

2.51%

19.02%

22.61%

13.44%

15.13%

14.97%

17.91%

7.95%

Net Margin %

-36.82%

-14.02%

-13.59%

3.09%

8.81%

1.20%

5.44%

8.56%

12.81%

13.53%

ROE %

-39.76%

-19.03%

-18.98%

5.67%

16.70%

2.24%

11.37%

21.72%

22.68%

12.25%

ROCE %

-22.18%

-7.82%

-7.13%

8.05%

15.88%

6.38%

14.35%

24.09%

30.12%

14.67%

-16.08%

-7.22%

-7.76%

2.44%

8.09%

1.14%

5.72%

11.52%

13.62%

9.03%

EFFICIENCY

Debtor Days

110

115

106

100

104

Inventory Days

Payable Days

110

115

106

100

104

FINANCIAL HEALTH

Debt to Equity (x)

0.87x

0.51x

0.50x

0.40x

0.20x

0.21x

0.16x

0.13x

0.05x

0.01x

Interest Coverage (x)

-4.56x

-1.67x

-1.94x

2.03x

3.48x

2.23x

5.66x

9.69x

26.45x

39.85x

0.70x

1.05x

0.96x

1.17x

1.38x

1.62x

1.77x

2.20x

2.57x

3.68x

GROWTH

Revenue Growth %

-15.36%

28.47%

14.29%

22.53%

10.34%

4.11%

20.29%

43.38%

7.81%

17.85%

Operating Profit Growth %

-130.14%

127.32%

-17.55%

829.98%

31.20%

-38.14%

35.42%

48.01%

39.52%

-8.53%

Net Profit Growth %

-74.08%

51.10%

-10.83%

127.82%

214.98%

-85.78%

444.22%

125.48%

61.25%

24.53%

0.00%

125.48%

52.00%

24.35%

VALUATION

P/E (x)

0.00x

26.83x

59.51x

25.52x

P/B (x)

0.00x

5.26x

10.53x

2.17x

Dividend Yield %

0.00%

0.00x

14.37x

36.64x

20.24x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

37.10

35.79

35.63

34.68

34.65

34.63

0.08

0.00

1.00

1.42

0.50

1.73

1.87

1.76

0.00

2.73

2.72

5.29

5.37

5.29

4.17

Government

0.00

62.82

61.48

60.65

58.61

59.52

58.33

58.26

58.20

59.43

IRIS RegTech Solutions Ltd.

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Quarterly Results

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IRIS RegTech Solutions Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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