IRIS Business Services Ltd
NSE:IRIS
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IRIS Business Services Ltd
IRIS Business Services Ltd. is a holding company, which engages in the provision of software products and solutions for compliance, data, and analytics. The company is headquartered in Navi Mumbai, Maharashtra. The company went IPO on 2017-10-11. The firm operates through three segments: Collect, Create and Consume. Its Collect segment includes a software platform for regulators to collect pre-validated submissions from those that they regulate. Its Create segment includes various offerings ranging from enterprise software to cloud/software as a service (SaaS) to create documents ready to be filed with regulators. Its Consume segment includes data consumption platform and content services. Its products include IRIS CARBON, IRIS GST, IRIS iDeal, IRIS iFILE and others. Its geographical segments include Middle Eastern Countries; America, including Canada and South American countries; Europe; India, and others.
IRIS Business Services Ltd. is a holding company, which engages in the provision of software products and solutions for compliance, data, and analytics. The company is headquartered in Navi Mumbai, Maharashtra. The company went IPO on 2017-10-11. The firm operates through three segments: Collect, Create and Consume. Its Collect segment includes a software platform for regulators to collect pre-validated submissions from those that they regulate. Its Create segment includes various offerings ranging from enterprise software to cloud/software as a service (SaaS) to create documents ready to be filed with regulators. Its Consume segment includes data consumption platform and content services. Its products include IRIS CARBON, IRIS GST, IRIS iDeal, IRIS iFILE and others. Its geographical segments include Middle Eastern Countries; America, including Canada and South American countries; Europe; India, and others.
TaxTech Divestment: IRIS completed the divestment of its TaxTech business, significantly strengthening its balance sheet and resulting in exceptional income for Q2.
SupTech Growth: The SupTech segment boosted revenues, adding key clients such as Qatar Central Bank and Qatar Tax Authority, with a promising pipeline ahead.
RegTech Expansion: RegTech ARR, especially from IRIS CARBON, grew 14% in the first half, driven mainly by disclosure management offerings.
Margin Pressure: Operating margins dropped sharply to 8% in Q2 due to planned increases in sales, marketing, and product development spend to drive ARR growth.
Capital Allocation: Cash and investments now total INR 170 crores, with organic business growth prioritized; inorganic acquisitions are being considered but are still in early discussions.
ESG & New Products: ESG modules and sustainability reporting solutions are being developed and rolled out, with revenue contribution expected in the coming periods.
Headcount & Cost Increase: Employee costs rose 26% YoY, with headcount up about 8%, mainly to support RegTech and product development initiatives.
