This microcap stock has 110% 3 year CAGR and apt financials indicated by Piotroski F score of 7. Today its shares rose 3% following an announcement of order receipt. The stock was listed in November 2021 and has positive returns since and YTD. The company has a market cap of Rs. 210 crore and currently trades 5% above its 20 day moving average and 32% above its 200 day moving average.
Iris Business Services Ltd (“Iris”), stated in a stock exchange filing dated 31 August 2023 that the Company, in partnership with FAPCOTECH General Trading Company W.L.L., Kuwait, has been selected by Boursa Kuwait to provide a solution related to collection of disclosure based data.
The company also reported impressive results in Q1 FY2024. Its Revenue grew 24% YoY from Rs. 16.6 crore to Rs. 20.6 crore. The company’s Net profits grew 41% from Rs. 0.7 crore to Rs. 0.9 crore. EPS stands at vs in Q1 FY2024. EBITDA also saw improvement, rising 9% from Rs. 2.3 crore to Rs. 2.4 crore YoY.
The company has no institutional investments in its equity. Iris’ shareholding comprises 63% held by promoters and 37% by retail investors. The promoters have pledged 30% of their shares, i.e, 19% of total equity has been pledged. Key investor is Madhusudan Kela who was Chief Investment Officer at Reliance Capital till2017 and now runs MK Ventures.
IRIS Business Services Limited, together with its subsidiaries, provides software products, services, and solutions for compliance, data, and analytics in 52 countries including India, the Middle East, the Asia Pacific, Africa, the United States, Europe, the United Kingdom, through 6000+ enterprises. The company headquarters is in Navi Mumbai, India and was founded in 2000. Key company clients include SBI Mutual Fund, Larsen & Toubro, Forbes Marshall, DHL, NSE and many more.
Disclaimer: Since penny stocks are generally illiquid, even a small increase in volume of buy orders can lead to the stock hitting its upper circuit. Even though the stock prices come under an average buying range for retail investors and provide huge upsides, penny stocks are prone to huge risks to retail investors. As such, you should consult your financial advisor before taking an entry into such stocks.
Written by Sandeep R
