IIRM Holdings India Ltd

₹ 76.9 -3.30%

06 Nov - close price

About

Incorporated in 1992, IIRM Holdings India
Ltd is in the business of consultancy and investments in group /associates companies^[1]

Key Points

Business Profile^[1] IIRM Holdings India Limited (formerly Sudev Industries) is a diversified insurance distribution platform with over 25 years of operational history. It operates across India, Singapore, Sri Lanka, Maldives, and Kenya and has evolved from an insurance agency to a licensed broker offering comprehensive insurance solutions, reinsurance services, and wellness offerings.

Website BSE

Market Cap ₹ 524 Cr.
Current Price ₹ 76.9
High / Low ₹ 147 / 69.7
Stock P/E 671
Book Value ₹ 13.1
Dividend Yield 0.00 %
ROCE 5.66 %
ROE 2.36 %
Face Value ₹ 5.00

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Pros

Company is almost debt free.
Company's working capital requirements have reduced from 115 days to 74.0 days

Cons

Stock is trading at 5.86 times its book value
Though the company is reporting repeated profits, it is not paying out dividend

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Services Services Commercial Services & Supplies Consulting Services

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	0.30	0.30	0.25	0.30	0.31	1.01	0.08	1.00	0.35	0.98	1.32	1.84	1.10
	0.27	0.37	0.22	0.27	0.25	0.13	0.07	0.11	0.23	0.53	0.96	0.92	0.87
Operating Profit	0.03	-0.07	0.03	0.03	0.06	0.88	0.01	0.89	0.12	0.45	0.36	0.92	0.23
OPM %	10.00%	-23.33%	12.00%	10.00%	19.35%	87.13%	12.50%	89.00%	34.29%	45.92%	27.27%	50.00%	20.91%
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.04
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00
Profit before tax	0.03	-0.07	0.03	0.03	0.06	0.88	0.01	0.89	0.12	0.45	0.35	0.92	0.19
Tax %	0.00%	0.00%	0.00%	0.00%	-16.67%	26.14%	0.00%	25.84%	-33.33%	100.00%	117.14%	26.09%	21.05%
	0.03	-0.07	0.03	0.03	0.07	0.65	0.01	0.66	0.16	0.01	-0.06	0.68	0.15
EPS in Rs	0.04	-0.08	0.04	0.04	0.08	0.77	0.00	0.10	0.02	0.00	-0.01	0.10	0.02
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	0.00	0.00	0.02	0.06	0.13	0.00	0.00	0.00	0.00	0.91	1.70	3.65	5.24
	0.04	0.04	0.03	0.05	0.14	0.07	0.03	0.02	0.15	0.73	0.72	1.82	3.28
Operating Profit	-0.04	-0.04	-0.01	0.01	-0.01	-0.07	-0.03	-0.02	-0.15	0.18	0.98	1.83	1.96
OPM %			-50.00%	16.67%	-7.69%					19.78%	57.65%	50.14%	37.40%
	0.00	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.04
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01
Profit before tax	-0.04	-0.01	-0.01	0.01	-0.01	-0.07	-0.03	-0.02	-0.15	0.18	0.98	1.81	1.91
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	73.33%	22.22%	22.45%	58.01%
	-0.04	-0.01	-0.01	0.01	-0.01	-0.07	-0.03	-0.02	-0.26	0.15	0.76	0.76	0.78
EPS in Rs	-0.05	-0.01	-0.01	0.01	-0.01	-0.08	-0.04	-0.02	-0.31	0.18	0.11	0.11	0.11
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	68%
5 Years:	%
3 Years:	%
TTM:	115%

Compounded Profit Growth
10 Years:	55%
5 Years:	94%
3 Years:	70%
TTM:	-47%

Stock Price CAGR
10 Years:	31%
5 Years:	%
3 Years:	%
1 Year:	-44%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	3.50	3.50	3.50	3.50	3.50	3.50	3.50	3.50	3.50	2.79	34.07	34.07	34.07
Reserves	-3.48	-3.49	-3.50	-3.49	-3.50	-3.62	-3.65	-3.67	-3.93	-3.07	-2.31	-1.55	55.30
	0.33	0.33	0.33	0.33	0.33	0.36	0.36	0.36	0.36	0.00	0.00	0.07	0.06
	0.05	0.06	0.07	0.09	0.10	0.19	0.22	0.24	0.46	0.59	0.14	0.88	0.69
Total Liabilities	0.40	0.40	0.40	0.43	0.43	0.43	0.43	0.43	0.39	0.31	31.90	33.47	90.12
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.07
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	29.86	29.92	50.38
	0.40	0.40	0.40	0.43	0.43	0.43	0.43	0.43	0.39	0.31	2.04	3.48	39.67
Total Assets	0.40	0.40	0.40	0.43	0.43	0.43	0.43	0.43	0.39	0.31	31.90	33.47	90.12

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2023	Mar 2024	Mar 2025
	-0.04	-0.02	0.03	0.02	-0.01	-0.01	0.35	-1.30	0.01
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-29.87	-0.06
	0.00	0.00	0.00	0.00	0.00	0.00	-0.36	31.28	0.06
Net Cash Flow	-0.04	-0.02	0.03	0.02	-0.01	-0.01	0.00	0.12	0.01

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days			365.00	121.67	0.00				116.32	19.32	150.00
Inventory Days				0.00	0.00
Days Payable
Cash Conversion Cycle			365.00	121.67	0.00				116.32	19.32	150.00
Working Capital Days			-5,475.00	-1,946.67	-982.69				-112.31	382.18	74.00
ROCE %	-10.96%	-2.90%	-2.99%	2.99%	-2.99%	-13.33%	-10.00%	-250.00%		6.23%	5.66%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	46.92%	46.92%	31.04%	64.87%	64.88%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%	60.82%
	10.60%	10.60%	7.02%	7.02%	5.34%	0.66%	0.66%	0.66%	0.66%	0.66%	0.66%	0.66%
	42.48%	42.48%	61.93%	28.12%	29.78%	38.52%	38.52%	38.51%	38.52%	38.51%	38.52%	38.52%
No. of Shareholders	873	875	871	869	201	393	406	655	1,191	1,211	1,290	1,410

	Mar 2016	Mar 2017	Mar 2018	Dec 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	31.05%	31.05%	31.05%	31.05%	31.05%	31.05%	31.05%	46.92%	60.82%	60.82%	60.82%
	7.02%	7.02%	7.02%	7.02%	7.02%	7.02%	7.02%	10.60%	0.66%	0.66%	0.66%
	61.94%	61.94%	61.94%	61.94%	61.94%	61.94%	61.94%	42.48%	38.52%	38.51%	38.52%
No. of Shareholders	928	928	928	928	928	928	929	875	393	1,211	1,410

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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IIRM Holdings India Ltd

IIRM Holdings India Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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