Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 please be informed that at the Board Meeting held on May 28, 2025, the Company has made further provision for impairment of investment ....
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Ironwood Education has made an additional impairment provision of Rs. 8.26 crores on its investment in EMDI (Overseas) FZ-LLC, a wholly owned subsidiary based in Dubai, based on a valuation report from Rajul Iyer & Associates dated May 23, 2025. The investment, originally made at Rs. 16.10 crores, was previously written down to Rs. 10.56 crores as on March 31, 2024. After this further provision, the carrying value stands at just Rs. 2.30 crores as on March 31, 2025 — meaning roughly 86% of the original investment has now been impaired. The board approved this at its meeting held on May 28, 2025.
This is a significant negative signal — the near-total write-down of the overseas subsidiary investment points to poor business performance or weak recovery prospects at EMDI. The Rs. 8.26 crore one-time hit will likely drag down FY25 profits and may dampen sentiment around the stock.