Madhuri Madhusudan Kela-Backed Multibagger Company Signs MoU with Telangana Government to Boost MSME Ecosystem – DIIs Bought Stake After 4 Years!
The company’s shares have delivered an impressive multibagger return of over 130 per cent in just 6 months.
Global fintech company IRIS Business Services Ltd has signed a Memorandum of Understanding (MoU) with the Government of Telangana to support the growth of the state's MSME sector. The agreement was formalized at the launch of Telangana's new MSME policy, with IRIS CEO S Swaminathan and Special Chief Secretary Shri Jayesh Ranjan signing the MoU.
Under this public-private partnership, IRIS will develop technology-driven solutions to benefit MSMEs, with the company recovering costs through user charges. The government will provide administrative and policy support, helping raise awareness to ensure the widespread adoption of these initiatives.
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On Thursday, the shares of IRIS Business Services Ltd are trading at around Rs 290 per share on the BSE. The company’s current market capitalization stands at Rs 577.23 crore. Additionally, the shares have delivered an impressive multibagger return of around 190 per cent in the past 1 year.
As per the Quarterly Results, in the Q1 FY25, IRIS Business Services Ltd recorded a revenue of Rs 27.65 crore compared to Rs 20.63 crore. The operating profit stood at Rs 3.75 crore. The net profit stood at Rs 2.89 crore compared to a profit of Rs 0.93 crore. Looking at the annual performance, the company generated a revenue of Rs 102 crore in FY24. The operating profit for FY24 was Rs 74 crore with an operating profit margin of 15 per cent and a net profit of Rs 9 crore compared to Rs 4 crore in FY23.
According to the company's shareholding pattern, the promoters hold a 36.09 per cent stake. Public investors own 61.12 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 0.08 per cent, and Domestic Institutional Investors (DIIs) bought a 2.73 per cent stake after 4 years.
Ace investor Madhusudan Kela’s wife Madhuri Madhusudan Kela own a 5.39 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.