We hereby submit the outcome of the Board Meeting regarding incorporation of Wholly Owned Subsidiary.
IRIS · price
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IRIS RegTech Solutions reported audited FY2026 consolidated revenue of Rs 12,849.85 lakhs from continuing operations, up 17% from Rs 10,967.60 lakhs in FY2025. Profit from continuing operations grew to Rs 1,416.29 lakhs vs Rs 1,365.46 lakhs. A major exceptional gain of Rs 13,598.67 lakhs was recognised from the strategic divestment of the GST ASP business and 100% equity in IRIS Logix Solutions Private Limited to Sovos Compliance Limited, UK, along with the e-invoicing business in Malaysia to Sovos Malaysia. Net profit including discontinued operations surged to Rs 12,653.76 lakhs vs Rs 1,325.18 lakhs in FY2025. The Board approved incorporation of a new Wholly Owned Subsidiary in the UAE to expand Middle East operations, and approved closure of Atanou S.R.L. as part of business rationalisation. The registered office and books of account will shift from Vashi to Turbhe, Navi Mumbai.
The GST ASP divestment generated a substantial one-time exceptional gain boosting net profit significantly. The new UAE subsidiary signals international expansion while closure of Atanou S.R.L. indicates cost-cutting. The core business divestment marks a strategic shift in the company's portfolio composition.