Board Meeting Details

The Board meeting commenced at 6:00 PM and concluded at 7:35 PM on May 28, 2026.

Key Decisions Approved

1. Audited Financial Results: The Board approved the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2026, along with the Auditors' Report issued by Seshachalam & Co., Chartered Accountants (Statutory Auditors).

2. Appointment of Internal Auditors: M/s. B Venkata Chandu and Associates, Chartered Accountants, Hyderabad, were appointed as Internal Auditors for FY 2026-27 effective May 28, 2026. The firm, established in 2023, specializes in Audit Assurance, Taxation, Advisory Services, Payroll Management, and Accounting Services.

3. Appointment of Company Secretary & Compliance Officer: Ms. Vempala Sri Lakshmi, a Fellow Company Secretary (FCS) with over 13 years of post-qualification experience, was appointed as Company Secretary & Compliance Officer effective on or before July 31, 2026. She has extensive experience in SEBI LODR Regulations, Companies Act 2013, and corporate governance frameworks. She is not related to any promoters, directors, or key managerial personnel.

Standalone Financial Results (Rs. in lakhs)

Quarter Ended March 31, 2026:

  • Revenue from operations: ₹120.00
  • Other income: ₹2.24
  • Total income: ₹122.24
  • Total expenses: ₹116.69
  • Profit before tax: ₹5.55
  • Tax expense: ₹10.93 (Current tax: ₹4.39, Prior year tax: ₹6.53, Deferred tax: ₹0.01)
  • Net profit after tax: (₹5.38) [Loss]
  • EPS: (₹0.01)

Year Ended March 31, 2026:

  • Revenue from operations: ₹529.00
  • Other income: ₹2.24
  • Total income: ₹531.24
  • Total expenses: ₹393.13
  • Profit before tax: ₹138.11
  • Tax expense: ₹44.15 (Current tax: ₹37.75, Prior year tax: ₹6.36, Deferred tax: ₹0.03)
  • Net profit after tax: ₹93.96
  • EPS: ₹0.14

Comparative Figures (Quarter Ended):

  • March 31, 2025: Net loss of ₹6.22 lakh
  • December 31, 2025: Net profit of ₹17.06 lakh

Consolidated Financial Results (Rs. in lakhs)

Quarter Ended March 31, 2026:

  • Revenue from operations: ₹6,400.72
  • Other income: ₹112.49
  • Total income: ₹6,513.21
  • Total expenses: ₹5,461.32
  • Profit before tax: ₹1,047.42
  • Tax expense: ₹370.85 (Current tax: ₹259.23, Prior year tax: ₹123.25, Deferred tax: (₹11.63))
  • Net profit after tax: ₹676.57
  • EPS: ₹0.99

Year Ended March 31, 2026:

  • Revenue from operations: ₹25,214.99
  • Other income: ₹156.97
  • Total income: ₹25,371.96
  • Total expenses: ₹21,929.04
  • Profit before tax: ₹3,437.79
  • Tax expense: ₹1,001.10 (Current tax: ₹897.92, Prior year tax: ₹96.32, Deferred tax: ₹6.85)
  • Net profit after tax: ₹2,436.69
  • EPS: ₹3.58

Segment-wise Revenue (FY 2026):

  • Professional and consultancy services: ₹4,996.39 lakh (20%)
  • Direct and Re-insurance service: ₹20,218.60 lakh (80%)

Geographical Revenue (FY 2026):

  • Within India: ₹24,141.05 lakh (96%)
  • Outside India: ₹1,073.94 lakh (4%)

Subsidiaries and Associates

The consolidated results include:

  • IIRM Holdings India Limited (Parent)
  • India Insure Risk Management and Insurance Broking Services Private Limited (Subsidiary)
  • IIRM Global Shared Services Private Limited (Subsidiary)
  • IIRM Wellness Services Private Limited (Subsidiary)
  • IIRM Holding Pte Limited (Subsidiary)
  • IIRM Lanka Insurance Broker Private Ltd (Step-down subsidiary, 83.19% holding)
  • IIRM Maldives Private Limited (Step-down subsidiary, 75.00% holding)
  • IIRM Kenya Insurance Brokers Ltd (Associate of subsidiary, 40.00% holding)

Key Notes to Financial Statements

1. Financial results prepared under Indian Accounting Standards (Ind AS).

2. Results reviewed by Audit Committee on May 27, 2026, and approved by the Board on May 28, 2026.

3. The company operates in a single reportable segment "Professional and Consultancy Services" for standalone results.

4. Implementation of new Labour Codes (notified November 21, 2025) had no material impact on FY2026 results.

5. Figures for quarters ended March 31, 2025, and March 31, 2026, are balancing figures between audited full-year and published unaudited year-to-date figures.

Subsidiary Update

India Insure Risk Management and Insurance Broking Services Private Limited approved issuance of up to 6,500 secured, redeemable, unlisted NCDs of face value ₹1,00,000 each (aggregating ₹65 Crores) on private placement basis.

Auditors' Reports

Seshachalam & Co., Chartered Accountants, issued unmodified audit opinions on both standalone and consolidated financial results, confirming compliance with accounting standards and SEBI regulations.

Certifications

MD and CFO certifications provided pursuant to Regulation 17(8) and Regulation 33(2)(a) of SEBI LODR Regulations, confirming:

  • Financial statements do not contain materially untrue statements
  • Compliance with accounting standards and laws
  • No fraudulent/illegal transactions
  • Responsibility for internal financial controls
  • No significant changes in accounting policies or internal controls
  • No significant fraud involving management