Integrated Filing — IndAS

General information about company
Scrip Code	540735
NSE Symbol	IRIS
MSEI Symbol	NOTLISTED
ISIN	INE864K01010
Name of company	IRIS BUSINESS SERVICES LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	14-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	08-May-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	14-May-2025   13:00:00
End date and time of board meeting	14-May-2025   18:00:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	346414000	1259678000
	Other income	8313000	25388000
	Total income	354727000	1285066000
2	Expenses
(a)	Cost of materials consumed	0	0
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	173723000	620800000
(e)	Finance costs	2045000	7893000
(f)	Depreciation, depletion and amortisation expense	6781000	21995000
(f)	Other Expenses
1	Other Expenses	122466000	448870000
	Total other expenses	122466000	448870000
	Total expenses	305015000	1099558000
3	Total profit before exceptional items and tax	49712000	185508000
4	Exceptional items	0	0
5	Total profit before tax	49712000	185508000
6	Tax expense
7	Current tax	17240000	54334000
8	Deferred tax	3656000	-1344000
9	Total tax expenses	20896000	52990000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	28816000	132518000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	28816000	132518000
17	Other comprehensive income net of taxes	-1827000	-401000
18	Total Comprehensive Income for the period	26989000	132117000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	28201000	130264000
	Total profit or loss, attributable to non-controlling interests	615000	615000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	26372000	129859000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	617000	2258000
21	Details of equity share capital
	Paid-up equity share capital	205382000	205382000
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		551511000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	1.39	6.55
	Diluted earnings (loss) per share from continuing operations	1.36	6.43
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	1.39	6.55
	Diluted earnings (loss) per share from continuing and discontinued operations	1.36	6.43
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		Notes na. The above consolidated financial results for the quarter and year ended March 31st, 2025 were reviewed and recommended by the Audit committee of the Board and approved by the Board of Directors at its meeting held on May 14th 2025. n nb. The consolidated financial results include financial results of five subsidiaries: nSr.No. Name of the Companies Relationship nI IRIS Business Services Asia Pte. Ltd Subsidiary n2 IRIS Business Services LLC Wholly Owned Subsidiary n3 Atanou S.r.l. Wholly Owned Subsidiary n4 IRIS Logix Solutions Private Limited Subsidiary n5 IRIS Regtech Sdn. Bhd. Wholly Owned Subsidiary n nc.Effective from the second quarter of the current financial year, based on the management approach as defined in Ind AS 108 Operating Segments, the Chief Operating Decision Maker will evaluate the Groups performance on four business segments, namely SupTech, RegTech, TaxTech and DataTech. n nThis update replaces our previous segments: Collect,Create, and Consume. Figures for the previous period have been restated to align with the new segment reporting structure. n nWhile the Collect segment is what is now proposed to be called Suptech, the Create segment has been divided into Regtech and Taxtech. The Consume segment is now the Datatech segment of the company. n nd. With respect to our investment in IRIS Business Services LLC incorporated in USA the Subsidiary as at March 31st, 2025 the total liabilities exceeded its total assets by Rs. 64.28 lakhs. The parent company is committed to provide necessary financial support as and when necessary. Considering the future prospect of the subsidiary and continued support of Parent company, the investment in the subsidiary is measured at cost. n ne. In the light of the future prospect of the subsidiary and committed continued support of Parent, financial results of the subsidiary mentioned in point d have been prepared on a going concern basis and the same is considered for preparation of consolidated financial results. n nf. Figures for the quarter ended March 31st, 2025 and March 31st, 2024 are the balancing figure between audited figures in respect of respective full financial years and published year to date figures up to the third quarter of the respective financial years which were subjected to limited review. n ng. Pursuant to the approval of the shareholders on June 21, 2024, the Company issued and allotted 5,43,478 equity shares and 5,43,477 convertible warrants on a preferential basis. These convertible warrants were issued at a price of Rs.184 per warrant, which includes a face value of Rs.10, and provides the right to convert the warrants into an equivalent number of equity shares. A Private Placement Offer Letter, dated June 24, 2024, was issued to the following investors Proposed Allottees Pratithi Growth Fund I a scheme of Pratithi Investment Fund and Tunga India Long Term Equity Fund. As per the terms of issuance, the Proposed Allottees were required to pay 25% of the issue price at the time of subscription, with the remaining 75% to be paid within nine months from the date of allotment. n nOn January 27, 2025, the Company received formal requests from both Proposed Allottees for the conversion of their warrants into equity shares by paying the balance consideration. The Board of Directors, at its meeting held on January 31 , 2025, approved the allotment of 5,43,477 equity shares upon the conversion of warrants on a preferential basis. n nThe Company received in-principle listing approvals from the National Stock Exchange of India Limited NSE on March 18, 2025, and from BSE Limited BSE on March 27, 2025. The equity shares were credited to the demat accounts of the allottees through the National Securities Depository Limited NSDL on April 3, 2025, and through the Central Depository Services Limited CDSL on April 7, 2025. Final listing and trading approvals for the said equity shares were received from NSE and BSE on April 22, 2025. n nh. On June 25, 2024, IRIS Regtech Sdn. Bhd, a wholly owned subsidiary of IRIS Business Services Limited was incorporated in Malaysia subsequent to approval from the Board of Directors of the Company, at their meeting held on May 30, 2024. n ni. Due to the sudden and untimely demise of Mr. S. Swaminathan, Promoter, Wholetime Director and CEO of the Company, the Board of Directors, at its meeting held on March 26, 2025, entrusted Mr. Krishnan Balachandran, Promoter, Whole time Director and CFO DIN 00080055, with the responsibility of overseeing the day to day operations and management of the Company on an interim basis. This arrangement shall remain in effect until a suitable successor is identified, appointed, and duly approved by the Board. n nj. Corresponding previous periods figures have been regrouped and reclassified wherever necessary. n nFor and on behalf of Board of Directors n nK Balachandran nWhole Time Director & CFO nDIN 00080055 nDate May 14th 2025 nPlace Navi Mumbai

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	102228000
	Capital work-in-progress
	Investment property
	Goodwill	0
	Other intangible assets	67551000
	Intangible assets under development	38490000
	Biological assets other than bearer plants
	Investments accounted for using equity method
	Non-current financial assets
	Non-current investments	0
	Trade receivables, non-current
	Loans, non-current	0
	Other non-current financial assets	9092000
	Total non-current financial assets	9092000
	Deferred tax assets (net)	12537000
	Other non-current assets
	Total non-current assets	229898000
2	Current assets
	Inventories	0
	Current financial asset
	Current investments	211086000
	Trade receivables, current	295554000
	Cash and cash equivalents	304707000
	Bank balance other than cash and cash equivalents	42260000
	Loans, current	358000
	Other current financial assets	71230000
	Total current financial assets	925195000
	Current tax assets (net)
	Other current assets	98622000
	Total current assets	1023817000
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	1253715000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	205382000
	Other equity	551511000
	Total equity attributable to owners of parent	756893000
	Non controlling interest	4120000
	Total equity	761013000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
	Total Trade payable
	Other non-current financial liabilities	6563000
	Total non-current financial liabilities	6563000
	Provisions, non-current	65331000
	Deferred tax liabilities (net)
	Deferred government grants, Non-current
	Other non-current liabilities
	Total non-current liabilities	71894000
	Current liabilities
	Current financial liabilities
	Borrowings, current	34465000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	2527000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	27821000
	Total Trade payable	30348000
	Other current financial liabilities	153797000
	Total current financial liabilities	218610000
	Other current liabilities	157049000
	Provisions, current	30304000
	Current tax liabilities (Net)	14845000
	Deferred government grants, Current
	Total current liabilities	420808000
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	492702000
	Total equity and liabilites	1253715000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	SupTech	166813000	614996000
2	RegTech	114844000	427804000
3	TaxTech	51891000	172787000
4	DataTech	3328000	9471000
5	Others	9538000	34620000
6	Unallocated	0	0
	Total Segment Revenue	346414000	1259678000
	Less: Inter segment revenue
	Revenue from operations	346414000	1259678000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	SupTech	35338000	108149000
2	RegTech	22971000	97062000
3	TaxTech	-11127000	-23358000
4	DataTech	27000	-2904000
5	Others	2705000	9641000
6	Unallocated	8333000	25408000
	Total Profit before tax	58247000	213998000
	i. Finance cost	1983000	1983000
	ii. Other Unallocable Expenditure net off Unallocable income	6552000	6552000
	Profit before tax	49712000	185508000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	SupTech	0	0
2	RegTech	0	0
3	TaxTech	0	0
4	DataTech	0	0
5	Others	0	0
6	Unallocated	0	0
	Total Segment Asset	0	0
	Un-allocable Assets	0	0
	Net Segment Asset	0	0
4	Segment Liabilities
	Segment Liabilities
1	SupTech	0	0
2	RegTech	0	0
3	TaxTech	0	0
4	DataTech	0	0
5	Others	0	0
6	Unallocated	0	0
	Total Segment Liabilities	0	0
	Un-allocable Liabilities	0	0
	Net Segment Liabilities	0	0
	Disclosure of notes on segments	Textual Information(2)

Text Block
Textual Information(2)	Assets and liabilities used in the Companys business are not identifiable to any of the reportable segment, as these are used interchangeably between segments. nThe management believes that it not practicable to provide segment disclosures relating to total assets and liabilities.

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurements of the net defined benefit (liability) / asset	-1261000	-191000
	Total Amount of items that will not be reclassified to profit and loss	-1261000	-191000
2	Income tax relating to items that will not be reclassified to profit or loss	0	0
3	Amount of items that will be reclassified to profit and loss
1	Fair Value Changes on Derivatives Designated as cash flow hedge	-690000	-656000
2	Exchange differences on translation of financial results of foreign operations	124000	446000
	Total Amount of items that will be reclassified to profit and loss	-566000	-210000
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	-1827000	-401000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			185508000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			7893000
	Adjustments for decrease (increase) in inventories			0
	Adjustments for decrease (increase) in trade receivables, current			-84585000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			38911000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			111000
	Adjustments for other financial assets, current			-10059000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			3484000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			0
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			21995000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			7321000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			79050000
	Adjustments for other financial liabilities, non-current			51199000
	Adjustments for unrealised foreign exchange losses gains			446000
	Adjustments for dividend income			0
	Adjustments for interest income			8723000
	Adjustments for share-based payments			13708000
	Adjustments for fair value losses (gains)			0
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			5582000
	Other adjustments for non-cash items			0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			126333000
	Net cash flows from (used in) operations			311841000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			34049000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			277792000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			0
	Purchase of property, plant and equipment			0
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			22000
	Purchase of other long-term assets			71519000
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			8723000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-205709000
	Net cash flows from (used in) investing activities	-268483000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			204187000
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			19881000
	Payments of lease liabilities			2584000
	Dividends paid			0
	Interest paid			7032000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			174690000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			183999000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			183999000
	Cash and cash equivalents cash flow statement at beginning of period			120708000
	Cash and cash equivalents cash flow statement at end of period			304707000