IRIS Business Services Ltd

IRIS Business Services Ltd

₹ 115 -2.80%
28 Mar - close price
About

Incorporated in 2000, IRIS Business Services
Ltd offers Regtech solutions to regulators and enterprises[1]

Key Points

Business Overview:[1][2]
IRIS BSL is a RegTech SaaS company that helps enterprises, business registers, regulators, central banks, stock exchanges, BFSI, and other organizations meet their regulatory compliance requirements through technology-driven solutions like Artificial Intelligence, Machine Learning, and Robotic Process Automation.
Company specialises in solutions related to compliance, data and analytics, encompassing various aspects of the information supply chain and data reporting standards like XBRL and SDMX

  • Market Cap 222 Cr.
  • Current Price 115
  • High / Low 163 / 67.0
  • Stock P/E 39.8
  • Book Value 17.9
  • Dividend Yield 0.00 %
  • ROCE 17.5 %
  • ROE 14.5 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 23.1% CAGR over last 5 years

Cons

  • Stock is trading at 6.41 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding is low: 37.2%
  • Company has a low return on equity of 11.6% over last 3 years.
  • Debtor days have increased from 100 to 123 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
15.29 17.40 12.11 14.67 16.63 17.87 16.64 17.49 18.89 20.56 20.63 23.97 27.34
10.60 14.94 11.56 12.99 14.07 15.47 14.41 15.66 16.19 17.71 18.19 21.11 23.83
Operating Profit 4.69 2.46 0.55 1.68 2.56 2.40 2.23 1.83 2.70 2.85 2.44 2.86 3.51
OPM % 30.67% 14.14% 4.54% 11.45% 15.39% 13.43% 13.40% 10.46% 14.29% 13.86% 11.83% 11.93% 12.84%
0.03 0.05 0.17 0.13 0.22 0.22 0.11 0.22 0.46 0.54 0.10 0.20 0.10
Interest 0.39 0.56 0.22 0.24 0.23 0.38 0.25 0.24 0.25 0.29 0.24 0.26 0.29
Depreciation 1.58 1.59 1.51 1.20 1.23 1.30 1.27 1.13 1.15 1.16 1.14 1.15 1.24
Profit before tax 2.75 0.36 -1.01 0.37 1.32 0.94 0.82 0.68 1.76 1.94 1.16 1.65 2.08
Tax % 0.00% -144.44% 0.00% 0.00% 37.88% 13.83% 19.51% 17.65% 15.91% 18.56% 19.83% 16.97% 14.90%
2.75 0.89 -1.01 0.37 0.83 0.82 0.66 0.56 1.48 1.58 0.93 1.37 1.76
EPS in Rs 1.46 0.46 -0.53 0.19 0.43 0.43 0.34 0.29 0.76 0.82 0.48 0.69 0.89
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
62.47 67.79 54.74 32.20 27.32 34.95 39.89 51.00 57.15 61.27 73.57 92.50
44.91 50.15 46.43 37.29 32.49 34.67 40.63 43.32 45.78 54.08 63.97 80.84
Operating Profit 17.56 17.64 8.31 -5.09 -5.17 0.28 -0.74 7.68 11.37 7.19 9.60 11.66
OPM % 28.11% 26.02% 15.18% -15.81% -18.92% 0.80% -1.86% 15.06% 19.90% 11.73% 13.05% 12.61%
-2.20 0.64 1.58 4.59 -0.25 0.62 1.07 0.58 0.22 0.74 1.33 0.94
Interest 1.40 1.88 1.43 1.68 2.08 2.00 1.60 1.55 1.71 1.07 1.02 1.08
Depreciation 4.34 3.80 5.55 4.58 4.63 4.49 4.09 6.16 6.27 5.23 4.71 4.69
Profit before tax 9.62 12.60 2.91 -6.76 -12.13 -5.59 -5.36 0.55 3.61 1.63 5.20 6.83
Tax % 26.20% 29.29% -1.37% -11.69% 12.53% 7.69% -13.99% 14.55% -14.40% 38.65% 17.69%
7.10 8.90 2.95 -7.54 -10.60 -5.16 -6.11 0.47 4.14 1.01 4.28 5.64
EPS in Rs 10.23 12.81 4.27 -10.85 -15.28 -2.74 -3.24 0.25 2.19 0.52 2.21 2.88
Dividend Payout % 0.00% 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: 2%
5 Years: 16%
3 Years: 13%
TTM: 30%
Compounded Profit Growth
10 Years: -7%
5 Years: 23%
3 Years: 109%
TTM: 59%
Stock Price CAGR
10 Years: %
5 Years: 25%
3 Years: 46%
1 Year: 65%
Return on Equity
10 Years: -3%
5 Years: 3%
3 Years: 12%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 6.94 6.94 6.94 6.94 6.94 18.88 18.88 18.88 18.92 19.22 19.36 19.36
Reserves 17.10 26.13 28.32 21.13 12.06 11.23 5.28 5.75 7.10 8.04 12.18 15.25
15.11 9.38 9.01 17.70 17.54 15.92 12.82 11.03 6.23 6.63 5.71 7.80
17.75 18.78 18.93 16.76 23.16 27.44 26.38 21.58 25.73 26.43 32.85 31.34
Total Liabilities 56.90 61.23 63.20 62.53 59.70 73.47 63.36 57.24 57.98 60.32 70.10 73.75
20.34 27.46 21.82 17.44 20.09 18.80 32.57 26.61 21.64 17.18 13.92 14.81
CWIP 8.30 0.00 8.36 20.08 17.69 17.33 0.00 0.33 0.00 0.39 1.61 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
28.26 33.77 33.02 25.01 21.92 37.34 30.79 30.30 36.34 42.75 54.57 58.94
Total Assets 56.90 61.23 63.20 62.53 59.70 73.47 63.36 57.24 57.98 60.32 70.10 73.75

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
20.47 4.97 8.37 7.65 3.73 -3.48 0.82 1.80 11.78 -0.41 5.71
-20.38 -2.69 -6.64 -10.55 -5.25 -2.65 -0.01 -0.41 -3.23 -0.04 -1.92
7.74 -7.54 -3.64 6.51 -4.37 11.15 -3.72 -3.07 -4.42 0.27 -1.69
Net Cash Flow 7.83 -5.25 -1.91 3.61 -5.89 5.02 -2.91 -1.67 4.14 -0.19 2.10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 56.27 85.13 75.41 64.50 103.41 139.42 108.61 125.10 84.50 93.23 123.24
Inventory Days
Days Payable
Cash Conversion Cycle 56.27 85.13 75.41 64.50 103.41 139.42 108.61 125.10 84.50 93.23 123.24
Working Capital Days 4.50 63.70 67.28 43.64 -49.70 0.31 -12.72 57.76 36.92 77.44 89.60
ROCE % 35.54% 10.03% -15.59% -23.20% -8.65% -9.06% 5.78% 15.66% 8.16% 17.46%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
38.69% 38.10% 38.10% 38.10% 38.10% 38.10% 37.92% 37.92% 37.82% 37.30% 37.30% 37.23%
0.00% 0.00% 0.00% 0.00% 0.13% 0.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.19%
61.31% 61.90% 61.90% 61.90% 61.77% 61.84% 62.07% 62.07% 62.19% 62.70% 62.70% 62.59%
No. of Shareholders 3954664761,7773,3113,6343,8104,3174,4844,3085,4465,130

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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