Any current/future new fundraising through debt or equity?

IRIS Business Services is looking to raise between Rs.30-50 crores primarily through a rights issue or preferential allotment, but the rights issue is currently at a standstill due to market conditions and concerns about promoter shareholding falling below SEBI's 25% threshold. Promoters currently have no money to subscribe further, and market price volatility has complicated fundraising efforts. The company intends to use almost all funds raised to expand business in America and Europe, targeting large mandates like monthly government filers in the US and ESG filings in Europe. Discussions

Any current/future capex/capital investment/strategic investment?

The company is looking for a capital infusion of Rs. 30-50 crores, primarily to fund growth initiatives in the US and Europe markets, focusing on new mandates such as government-level filings in the US and ESG filings in Europe. Almost all raised funds will be used to grow business in America and Europe to capture market share in emerging regulatory filing opportunities. The proposed funding will support pursuing a $10,000-per-unit revenue opportunity from 90,000 monthly filers in the US and ESG submissions from about 50,000 companies in Europe, priced around €1000 per filing. Current ri

Future growth expectations in sales/revenue/volumes?

Growth largely depends on availability of funds; with funding, growth can be significantly higher than current 10-15-20% rates. Without additional funding, expected growth is a modest 10-20%. New mandates, especially in the U.S. government sector (with about 90,000 filers filing monthly returns) and European ESG filings (approx. 50,000 companies), present substantial revenue opportunities. U.S. filing estimated at ~$10,000 revenue per filer; European ESG filing around €1,000 per submission. Current market conditions and pricing affect fundraising; target to raise Rs.30-50 crores for expansion

Future growth expectations in earnings/operating earnings/profits/EPS?

Future growth is uncertain and depends significantly on availability of funds to "mount an assault" on markets (Page 15). Without additional funding, growth expected at a moderate 10-15-20% rate; with funding, growth could be significantly higher (Page 16). New regulatory implementations (XBRL mandates in various countries, ESG filings in Europe) expected to drive future growth momentum (Pages 15-16). Business has recurring revenue with improving margins as customers become more self-sufficient, indicating operating earnings could improve over time (Page 12). Rights issue and raising Rs.30-50

Current/ Expected Orderbook/ Pending Orders?

The company mentioned new mandates coming up in America and Europe, specifically: - A significant government mandate in the US involving approximately 90,000 filers expected to file returns monthly, with an estimated revenue of around $10,000 per unit. - An ESG filing mandate in Europe requiring about 50,000 companies to submit ESG reports, with an expected price of approximately 1,000 Euros per filing. IRIS has won the Bhutan mandate recently. There are 4-5 proposals related to new regulatory implementations of XBRL platforms under consideration. The company has around 250-280 customers i

IRIS Regtech Solutions LtdQ2 FY23IT - Software

IRIS Regtech Solutions Ltd Q2 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹200.67P/E: 32.1Market Cap: ₹412 CrSector: IT - Software

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

N/A

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Growth largely depends on availability of funds; with funding, growth can be significantly higher than current 10-15-20% rates.
Without additional funding, expected growth is a modest 10-20%.
New mandates, especially in the U.S. government sector (with about 90,000 filers filing monthly returns) and European ESG filings (approx. 50,000 companies), present substantial revenue opportunities.
U.S. filing estimated at ~$10,000 revenue per filer; European ESG filing around €1,000 per submission.
Current market conditions and pricing affect fundraising; target to raise Rs.30-50 crores for expansion primarily in America and Europe.
Growth drivers include new regulatory implementations of XBRL platforms in multiple countries.
Company has survived by being frugal but aims to use infusion to aggressively pursue markets.
Long-term growth also tied to winning regulatory mandates and expanding customer base in compliance SaaS offerings.

Margin guidance

Category 3

Future growth is uncertain and depends significantly on availability of funds to "mount an assault" on markets (Page 15).
Without additional funding, growth expected at a moderate 10-15-20% rate; with funding, growth could be significantly higher (Page 16).
New regulatory implementations (XBRL mandates in various countries, ESG filings in Europe) expected to drive future growth momentum (Pages 15-16).
Business has recurring revenue with improving margins as customers become more self-sufficient, indicating operating earnings could improve over time (Page 12).
Rights issue and raising Rs.30-50 crores planned but delayed due to market conditions and promoter holding concerns; funds likely to be deployed in US and Europe growth opportunities (Pages 16-19).
Promoter shareholding considerations and capital raising strategies actively discussed with board and investors to optimize growth trajectory (Pages 16-19).

See what IRIS Regtech Solutions Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

IRIS Business Services is looking to raise between Rs.30-50 crores primarily through a rights issue or preferential allotment, but the rights issue is currently at a standstill due to market conditions and concerns about promoter shareholding falling below SEBI's 25% threshold.
Promoters currently have no money to subscribe further, and market price volatility has complicated fundraising efforts.
The company intends to use almost all funds raised to expand business in America and Europe, targeting large mandates like monthly government filers in the US and ESG filings in Europe.
Discussions with investors like Madhusudan Kela and Kaushik Shekhar have not involved selective disclosures; management will decide next steps with the board.
Emphasis on not stalling growth for lack of capital and considering raising funds in tranches as advised by investors.

Order book

The company mentioned new mandates coming up in America and Europe, specifically:
- A significant government mandate in the US involving approximately 90,000 filers expected to file returns monthly, with an estimated revenue of around $10,000 per unit.
- An ESG filing mandate in Europe requiring about 50,000 companies to submit ESG reports, with an expected price of approximately 1,000 Euros per filing.
IRIS has won the Bhutan mandate recently.
There are 4-5 proposals related to new regulatory implementations of XBRL platforms under consideration.
The company has around 250-280 customers in the US and Europe markets as of now, showing steady order flow.
Partnerships and collaborations, including those with Indian missions abroad and local partners, contribute to order acquisitions.
Specific pipeline and orderbook sizes were not quantified but the focus is on growth through regulatory mandates and emerging compliance needs.

See what IRIS Regtech Solutions Ltd management said on order book — free account, 30 seconds.

Capex plans

The company is looking for a capital infusion of Rs. 30-50 crores, primarily to fund growth initiatives in the US and Europe markets, focusing on new mandates such as government-level filings in the US and ESG filings in Europe.
Almost all raised funds will be used to grow business in America and Europe to capture market share in emerging regulatory filing opportunities.
The proposed funding will support pursuing a $10,000-per-unit revenue opportunity from 90,000 monthly filers in the US and ESG submissions from about 50,000 companies in Europe, priced around €1000 per filing.
Current rights issue plans are at a standstill due to market conditions and promoter holding considerations, with the board evaluating appropriate timing and approach.
Management acknowledges that having more capital would enable significantly higher growth trajectories.
No specific new capex projects detailed; focus is on strategic investment in market expansion and regulatory filing solutions.

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IRIS Regtech Solutions Ltd Q2 FY23 Earnings Call Analysis

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Capex plans

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