Unaudited Financial Results for Q2FY26
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IIRM Holdings India Ltd reported consolidated revenue of ₹5,962 lakhs in Q2FY26, up 24% from ₹4,823 lakhs in Q2FY25, driven mainly by Construction, Property and Retail insurance. H1FY26 revenue grew 12% to ₹12,765 lakhs. However, Profit After Tax fell sharply to ₹521 lakhs in Q2 (down 30% YoY) and ₹1,286 lakhs in H1 (down 23% YoY), as finance costs surged nearly threefold and depreciation rose 50%. EBITDA margins compressed to about 23% from roughly 27% a year ago. The Board also announced the acquisition of Safe Risk Insurance Brokers by its subsidiary India Insure, a share split (Rs10 to Rs5), ESOP 2025 grants, and the merger of Sampada Business Solutions with the company effective July 21, 2025.
Top-line growth is encouraging, especially against a sluggish broader insurance industry that grew only 1.8% in Q2, but rising finance costs and lower margins are hurting bottom-line profits. The planned acquisitions and fund raising could support future growth but may also dilute shareholders in the near term.