Board Meeting Details

The Board of Directors meeting was held on November 12, 2026, from 4:30 pm to 5:30 pm. The meeting approved the unaudited financial results and received the limited review report from statutory auditors M/s Seshachalam & Co.

Standalone Financial Performance (Rs. in Lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: ₹265.00 (Q2 FY26: ₹110.00)
  • Other income: ₹28.00
  • Total income: ₹265.00 (Q2 FY26: ₹110.00)
  • Total expenses: ₹241.90 (Q2 FY26: ₹91.62)
  • Employees benefit expense: ₹142.64
  • Finance costs: ₹3.12
  • Depreciation: ₹0.39
  • Other expenses: ₹95.75
  • Profit before tax: ₹23.10 (Q2 FY26: ₹18.38)
  • Tax expense: ₹5.81
  • Net profit after tax: ₹17.29 (Q2 FY26: ₹14.67)
  • EPS: ₹0.02 (Q2 FY26: ₹0.02)

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: ₹433.50 (H1 FY26: ₹294.00)
  • Total income: ₹433.50 (H1 FY26: ₹294.00)
  • Total expenses: ₹397.04 (H1 FY26: ₹184.25)
  • Profit before tax: ₹36.46 (H1 FY26: ₹109.75)
  • Tax expense: ₹9.18
  • Net profit after tax: ₹27.28 (H1 FY26: ₹82.28)
  • EPS: ₹0.04 (H1 FY26: ₹0.12)

Consolidated Financial Performance (Rs. in Lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: ₹6,725.26
  • Other income: ₹65.22
  • Total income: ₹6,790.48
  • Total expenses: ₹6,124.10
  • Employees benefit expense: ₹4,715.16
  • Finance costs: ₹469.29
  • Depreciation and amortization: ₹389.19
  • Other expenses: ₹550.47
  • Profit before tax: ₹666.38
  • Tax expense: ₹151.31
  • Net profit after tax: ₹515.07
  • EPS: ₹0.75

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: ₹14,075.61 (H1 FY26: ₹12,727.29)
  • Total income: ₹14,164.43 (H1 FY26: ₹12,764.82)
  • Total expenses: ₹12,462.05 (H1 FY26: ₹11,007.69)
  • Profit before tax: ₹1,702.38 (H1 FY26: ₹1,757.13)
  • Tax expense: ₹404.49
  • Net profit after tax: ₹1,297.89 (H1 FY26: ₹1,289.22)
  • EPS: ₹1.86 (H1 FY26: ₹1.89)

Segment Information (Consolidated)

Business Segments (H1 FY27)

  • Professional and consultancy services: ₹2,658.51 lakhs (19%)
  • Direct and Re-insurance service: ₹11,417.11 lakhs (81%)
  • Total: ₹14,075.61 lakhs (100%)

Geographical Segments (H1 FY27)

  • Within India: ₹13,566.53 lakhs (96%)
  • Outside India: ₹509.08 lakhs (4%)
  • Total: ₹14,075.61 lakhs (100%)

Capital Structure Changes

Preferential Allotment

  • Allotted 15,59,883 equity shares at ₹143.28 per share
  • Aggregate consideration: ₹22,35,00,037.12
  • Share capital: ₹77,99,415
  • Securities premium: ₹21,57,00,622.12

Warrant Allotment

  • Allotted 88,39,333 convertible warrants at ₹143.28 per warrant
  • Aggregate consideration: ₹126,64,99,632.24
  • Share capital: ₹4,41,96,665
  • Securities premium: ₹1,22,23,02,967.24

Subsidiary Update

IIRM Global Shared Services Private Limited (wholly-owned subsidiary):

  • Converted existing unsecured loan of ₹34.78 crores into equity
  • Allotted 29,98,385 equity shares at ₹116 per share (face value ₹5, premium ₹111)
  • This reduced outstanding loan and increased company's investment in subsidiary

Subsidiary Structure

The consolidated results include:

1. IIRM Holdings India Limited (Parent)

2. India Insure Risk Management and Insurance Broking Services Private Limited (100% subsidiary)

3. IIRM Global Shared Services Private Limited (100% subsidiary)

4. IIRM Wellness Services Private Limited (100% subsidiary)

5. IIRM Holding Pte Limited, Singapore (100% subsidiary)

6. IIRM Lanka Insurance Broker Private Ltd (83.19% step-down subsidiary)

7. IIRM Maldives Private Limited (75% step-down subsidiary)

8. IIRM Kenya Insurance Brokers Limited (40% associate)

Auditor's Review

M/s Seshachalam & Co., Chartered Accountants, issued an unmodified review report on both standalone and consolidated financial results. For consolidated results, they relied on reports from other auditors for 5 subsidiaries representing operating income of ₹1,943.91 lakhs (Q2) and ₹4,545.29 lakhs (H1), and net profit of ₹88.84 lakhs (Q2) and ₹285.83 lakhs (H1).

Additional Information

  • The company operates in a single reportable segment "Professional and Consultancy Services" for standalone operations
  • Previous period figures have been regrouped/reclassified where necessary
  • The financial statements are prepared in accordance with Ind AS