Audited Financial Results for March 31, 2026
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Ironwood Education reported a turnaround with standalone net profit of ₹28.20 lakhs (vs loss of ₹1,028.96 lakhs YoY) and consolidated net profit of ₹391.19 lakhs (vs loss of ₹1,015.15 lakhs YoY). Consolidated revenue surged to ₹5,257.86 lakhs (vs ₹346.48 lakhs) due to a new real estate segment via subsidiary Trio Infrastructure Private Ltd. However, standalone revenue grew modestly to ₹210.06 lakhs (vs ₹187.43 lakhs). The company is winding down its overseas subsidiary EMDI (Overseas) FZ LLC due to geopolitical disruptions and selling its EMDI trademark. The auditor issued an unmodified opinion but drew emphasis of matter on the subsidiary's financial statements not being prepared on a going concern basis. Operating cash flow remains negative at ₹638.20 lakhs on standalone basis.
The company has returned to profitability at standalone level but faces significant challenges including negative operating cash flow, winding down of an overseas subsidiary, and a subsidiary prepared on non-going concern basis. The dramatic revenue increase is driven by a new real estate segment rather than core education business.