IRISDOREME
Iris Clothings financials
- Market cap
- ₹1.0k Cr
- Sector
- Textiles
- Calls analysed
- 7
Iris Clothings Limited Q1 FY27
What went well
- Net profit grew 53% year-on-year to INR4 crores in Q1 FY27.
- EBITDA grew 53% year-on-year to INR8 crores, with an EBITDA margin of 17.12%.
- Total income increased by 26.2% year-on-year to INR47.2 crores from INR37.4 crores in Q1 FY26.
What Iris Clothings Limited does
Iris Clothings Limited designs, manufactures, brands and sells kids' apparel (infants through junior boys and girls) under its DOREME brand, covering summer wear, winter wear, sportswear, loungewear, nightwear and innerwear. It runs its own manufacturing units in Howrah, West Bengal and sells through a pan-India distributor network, its own Exclusive Brand Outlets (EBOs), e-commerce B2B and a direct-to-consumer online platform (doreme.in), alongside exports. The company also holds a licensing agreement with Disney to design and sell apparel featuring Disney and Marvel characters.
Segments
- Manufacturing
- Retail B2B
- E-commerce B2B
- Retail D2C / EBOs
- E-commerce D2C
- Exports
- Manufacturing/dispatch/corporate units
- 13 (10 manufacturing, 2 dispatch, 1 corporate office), all in Howrah
- Installed manufacturing capacity
- 36,000 pieces/day
- Manufacturing area
- 1,45,000 sq. ft.
- Distributor network
- 216
- States covered (India)
- 26
- Retail touchpoints (targeted network scale)
- 20,000+
Guidance record · Q1 FY27
what the last two calls moved 17 tracked 3 delivered 2 missed 12 open- New EBO Rollout FY27 revised up said Q4 FY26 Promised: Add around 8 to 10 stores Q1 FY27: Strategy significantly expanded to opening 20-25 COCO stores initially and scaling to 100 EBOs in the next couple of years.
- FY26 Revenue Growth delivered, diluted said Q4 FY25 Promised: 30%-35% growth in revenue this year (INR 200-210 cr) Q4 FY26: Achieved 30.51% growth (INR 190.8 cr), meeting the percentage target but missing the absolute revenue target of INR 200-210 cr.
- FY26 EBITDA Margin missed said Q1 FY26 Promised: 19% to 20% level from Q2 FY26 onwards Q4 FY26: Q4 margin was 18.2%, missing the 19-20% target. Full year FY26 margin was 15.4%, a significant miss on all guided levels.
All 17 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 26.3%, net profit up 52.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 41 | 33 | 40 | 37 | 44 +7% | 49 +46% | 60 +50% | 47 +26% |
| EBITDA | 8 | 6 | 8 | 5 | 7 −11% | 6 −0% | 11 +33% | 8 +53% |
| Net profit | 4 | 2 | 4 | 3 | 4 +7% | 3 +27% | 6 +44% | 4 +52% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +90.3% 1Y
1Y: ₹32.31 on 10 Sept 2025 → ₹61.47. High ₹63.58 (4 Sept 2026), low ₹27.83 (23 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.1%
- 28 Jul
- Q4 FY26
- −3.2%
- 12 May
- Q3 FY26
- +3.7%
- 3 Feb
- Q2 FY26
- +1.2%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 19.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 15.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹113 Cr | ₹122 Cr | ₹146 Cr | ₹191 Cr |
| Operating profit | ₹19 Cr | ₹26 Cr | ₹28 Cr | ₹29 Cr |
| Operating margin | 17.2% | 21.6% | 19.1% | 15.3% |
| Interest | ₹3 Cr | ₹4 Cr | ₹4 Cr | ₹3 Cr |
| Depreciation | ₹5 Cr | ₹6 Cr | ₹6 Cr | ₹5 Cr |
| Net profit | ₹8 Cr | ₹12 Cr | ₹13 Cr | ₹16 Cr |
| Net margin | 7.3% | 10.0% | 9.0% | 8.5% |
| Cash from operations | ₹2 Cr | ₹2 Cr | ₹3 Cr | ₹-7 Cr |
| Free cash flow | ₹1 Cr | ₹-1 Cr | ₹2 Cr | ₹-23 Cr |
| ROCE | 16.0% | 20.0% | 18.0% | 16.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹38 Cr | ₹38 Cr |
| Reserves | ₹23 Cr | ₹32 Cr | ₹41 Cr | ₹53 Cr | ₹94 Cr | ₹104 Cr |
| Borrowings | ₹27 Cr | ₹33 Cr | ₹35 Cr | ₹44 Cr | ₹27 Cr | ₹34 Cr |
| Other liabilities | ₹10 Cr | ₹12 Cr | ₹17 Cr | ₹20 Cr | ₹21 Cr | ₹28 Cr |
| Total liabilities | ₹76 Cr | ₹94 Cr | ₹109 Cr | ₹133 Cr | ₹180 Cr | ₹204 Cr |
| Fixed assets | ₹31 Cr | ₹31 Cr | ₹27 Cr | ₹28 Cr | ₹30 Cr | ₹33 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹7 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹45 Cr | ₹63 Cr | ₹82 Cr | ₹105 Cr | ₹150 Cr | ₹164 Cr |
| Total assets | ₹76 Cr | ₹94 Cr | ₹109 Cr | ₹133 Cr | ₹180 Cr | ₹204 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Iris Clothings Limited
Guides on how to read this kind of business and the numbers that matter.