IRIS RegTech Solutions Limited

IRIS.BO

Software - Application · Technology

Price

₹249.80

-0.95 (-0.38%)

Market Cap

₹5.06B

Exchange

Bombay Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 13, 2026 · filings through Jun 30, 2026

Share count rising — dilution

+7.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 19.3M (2022) → 20.8M (2026)

IRIS RegTech Solutions Limited is an Indian technology company that helps businesses follow financial and regulatory rules. It makes software that companies use to file tax returns, prepare financial reports, and submit data to government agencies. Its main customers are corporations, accounting firms, and banks that need to comply with rules set by regulators like India's Ministry of Corporate Affairs and tax authorities.

The company earns money by selling software licenses and subscription-based services to its clients. It operates primarily in India, where it has built a strong position by deeply integrating its tools with government filing systems — making it harder for customers to switch to competitors. With a market cap of around $5 billion but thin operating margins near 4%, the key risk is that low profitability leaves little room for error if competition increases or government regulatory frameworks change in ways that reduce demand for compliance software.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+45.3% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

57.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

IRIS RegTech Solutions Limited is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-9.5%

Thin — -9.5% gross margin

Operating Margin

-9.5%

Losing money on operations — -9.5%

ROCE

-1.5%

Weak — -1.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+6.1%

Slow sales growth (+6.1% YoY)

EPS YoY

>+1,000%

Earnings growing fast (>+1,000% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Cash Conversion

Weak — only 0% of profit becomes cash

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

14.78x

Comfortably covers interest (14.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

4.1x

Attractive valuation — P/E 4.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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