IRIS Business Services Limited has informed the Exchange regarding Appointment of Mr. Vineet Kandoi as Chief Financial Officer of the Company w.e.f. August 14, 2025.
IRIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
At its meeting on August 13, 2025, the board approved IRIS Business Services' unaudited Q1 FY26 results. Consolidated revenue from operations rose about 8% year-on-year to ₹2,985.89 lakhs, but net profit fell sharply to ₹22.43 lakhs from ₹288.45 lakhs a year ago, hit by losses in the RegTech (₹279 lakh) and TaxTech (₹82.56 lakh) segments, while SupTech stayed profitable at ₹355.28 lakhs. The board also appointed Mr. Vineet Kandoi, currently the Financial Controller, as the new Chief Financial Officer effective August 14, 2025; he is a Fellow Chartered Accountant and IIM Ahmedabad alumnus with about 15 years of experience. The 25th Annual General Meeting was fixed for September 23, 2025, to be held via video conferencing, with the register of members closed from September 17–23, 2025. The filing also notes the recent sale of the GST ASP business and 100% stake in subsidiary IRIS Logix to UK-based Sovos Compliance for an aggregate ₹15,124 lakhs, approved by shareholders on July 26, 2025.
Sharp year-on-year drop in profits despite revenue growth flags margin pressure and weak performance in the RegTech and TaxTech segments, which may weigh on the stock in the short term; however, the CFO elevation is a smooth internal succession and the recently concluded ₹15,124 lakh divestment to Sovos could strengthen the balance sheet and sharpen the focus on core, profitable businesses going forward.