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Ironwood Education Ltd

IRONWOOD
BSE
44.00
1.52%
Last Updated:
29 Apr '26, 4:00 PM
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Ironwood Education Ltd

IRONWOOD
BSE
44.00
1.52%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
74Cr
Close
Close Price
44.00
Industry
Industry
Miscellaneous
PE
Price To Earnings
PS
Price To Sales
2.36
Revenue
Revenue
31Cr
Rev Gr TTM
Revenue Growth TTM
686.68%
PAT Gr TTM
PAT Growth TTM
-26.16%
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IRONWOOD
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
1111111110130
Growth YoY
Revenue Growth YoY%
-17.539.7133.30.0182.7-29.57.116.1-35.4-64.2-42.23,048.9
Expenses
ExpensesCr
1111111121123
Operating Profit
Operating ProfitCr
00000000-1-106
OPM
OPM%
-78.8-17.9-39.3-23.510.2-62.7-14.4-39.4-87.4-341.7-61.521.7
Other Income
Other IncomeCr
0010-501-1-8000
Interest Expense
Interest ExpenseCr
000000000001
Depreciation
DepreciationCr
000000000000
PBT
PBTCr
-1010-6-11-2-9-1-15
Tax
TaxCr
000000000000
PAT
PATCr
-1010-6-11-2-9-1-15
Growth YoY
PAT Growth YoY%
-71.80.0184.1-122.2-758.2-46.381.1-330.0-52.9-95.0-155.2404.6
NPM
NPM%
-128.8-43.263.1-49.4-391.2-89.5106.7-183.0-925.3-487.5-101.917.7
EPS
EPS
-0.8-0.50.7-0.5-7.3-0.81.2-2.2-10.3-0.8-0.33.5

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
8877663224331
Growth
Revenue Growth%
-17.4-5.1-6.62.9-21.3-3.0-52.9-16.78.271.5-14.8803.7
Expenses
ExpensesCr
8899974445527
Operating Profit
Operating ProfitCr
00-1-2-3-1-1-1-1-1-24
OPM
OPM%
3.9-1.3-20.0-22.7-52.9-21.3-53.1-61.3-49.6-13.4-50.414.2
Other Income
Other IncomeCr
111001000-4-8-7
Interest Expense
Interest ExpenseCr
000000001102
Depreciation
DepreciationCr
000000100000
PBT
PBTCr
11-1-1-3-1-2-2-2-6-10-5
Tax
TaxCr
000000000000
PAT
PATCr
11-1-1-3-1-2-2-2-6-10-5
Growth
PAT Growth%
45.8-40.1-238.0-89.1-95.458.7-71.315.2-10.1-220.0-68.448.3
NPM
NPM%
11.67.3-10.9-19.9-49.5-21.1-76.6-78.0-79.5-148.3-293.0-16.8
EPS
EPS
1.20.7-1.0-1.8-3.6-1.5-2.5-2.4-2.4-7.6-11.8-7.9

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
88888888881515
Reserves
ReservesCr
202020141110864-263
Current Liabilities
Current LiabilitiesCr
21223222226979
Non Current Liabilities
Non Current LiabilitiesCr
0001146711101729
Total Liabilities
Total LiabilitiesCr
30303025232424232418108126
Current Assets
Current AssetsCr
774322111197115
Non Current Assets
Non Current AssetsCr
232326222123232223171111
Total Assets
Total AssetsCr
30303025232424232418108126

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
00-1-2-31-2-1-1-1-26
Investing Cash Flow
Investing Cash FlowCr
-20-121-20001-4
Financing Cash Flow
Financing Cash FlowCr
200011222-133
Net Cash Flow
Net Cash FlowCr
10-20-1000002
Free Cash Flow
Free Cash FlowCr
00-1-2-3-2-2-1-2-1-26
CFO To PAT
CFO To PAT%
21.9-33.4140.7103.899.3-70.390.080.568.313.7257.5
CFO To EBITDA
CFO To EBITDA%
66.1196.576.391.393.0-69.7129.8102.5109.3150.91,497.8

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
1624243330291626231859
Price To Earnings
Price To Earnings
16.942.20.00.00.00.00.00.0-12.50.0-5.8
Price To Sales
Price To Sales
2.03.13.34.55.25.26.011.99.94.517.1
Price To Book
Price To Book
0.60.80.91.51.61.61.01.92.03.12.8
EV To EBITDA
EV To EBITDA
43.3-218.8-16.0-19.4-10.1-26.4-15.3-24.5-28.5-51.5-42.4
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0142.3
OPM
OPM%
3.9-1.3-20.0-22.7-52.9-21.3-53.1-61.3-49.6-13.4-50.4
NPM
NPM%
11.67.3-10.9-19.9-49.5-21.1-76.6-78.0-79.5-148.3-293.0
ROCE
ROCE%
3.42.2-2.9-6.3-13.9-4.5-7.6-5.9-5.6-33.4-25.1
ROE
ROE%
3.42.0-2.8-6.6-14.8-6.6-12.6-12.2-15.9-100.9-47.1
ROA
ROA%
3.11.9-2.6-5.9-12.4-4.8-8.4-7.5-7.8-33.0-9.4
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Ironwood Education Ltd. is a leading vocational education provider in India and the international market, operating under the **Ironwood** and **Greycells** umbrella brands. The company specializes in delivering industry-aligned training in **sports management, event management, advertising, wedding planning, media, and entertainment**. With over **two decades of experience**, Ironwood has established itself as a pioneer in professional skilling for high-growth sectors such as sports, media, and events. It is listed on the **BSE** and has a global presence through its subsidiaries and partnerships. --- ### **Core Business & Operations** - **Primary Segment**: Vocational and higher education in sports, media, and entertainment industries. - **Geographic Reach**: - **India**: Operates through multiple campuses and university partnerships. - **International**: Presence via **EMDI (Overseas) FZ LLC**, a wholly owned subsidiary in **Dubai**, offering classroom-based training to graduates, undergraduates, and working professionals. - **Training Brands**: - **Ironwood Sports Management Global Academy (ISMGA)** – Focus on sports management leadership. - **EMDI Institute of Media & Communication (EMDI)** – Covers event management, advertising, PR, and digital media. - **EMDI Wedding Academy** – Specialized training in wedding planning and design. --- ### **Academic Offerings & Collaborations** Ironwood has evolved from pure vocational training to delivering **government-recognized undergraduate and postgraduate degree programs** through strategic academic partnerships: - **Bachelor’s Degree Programs**: Offered in collaboration with **Mumbai University** and **Homi Bhabha State University**. - **Undergraduate Programs**: Partnered with **D.Y. Patil University’s School of Open & Distance Learning** in Event and Sports Management. - Focus areas include **sports, media, entertainment, event management**, and **coach certification**, designed to bridge industry-academia gaps. - The company is actively pursuing collaborations with colleges and universities across India to expand its degree program footprint and enhance research integration. --- ### **Growth Strategy & Expansion Plans (as of Aug 2025)** 1. **Domestic & International Expansion**: - Expanding physical infrastructure and program reach across India. - Strengthening international presence through Dubai operations and global university tie-ups for research access and course delivery. 2. **Strategic Acquisition**: - Completed takeover of **Trio Infrastructure Private Limited** (Dec 2024), enabling Ironwood to leverage real estate and infrastructure expertise to scale campus development and generate **annuity-style revenue**. - Promoters of Trio Infrastructure have become shareholders, triggering a regulatory open offer. 3. **Organic Growth Initiatives**: - Enhancing digital outreach via **SEO-optimized websites, social media marketing**, and content-driven campaigns. - Utilizing **alumni success stories, testimonials, awards, and case studies** to build brand trust and influence enrollment decisions. 4. **Joint Ventures & Partnerships**: - Previously partnered with **Sporting Minds Academy LLP** (Chennai) to expand regional presence in sports management; however, the JV is now in the **process of dissolution**. - Holds a **16% equity stake in Coaching Beyond Pvt Ltd**, viewed as a strategic growth opportunity in coach development and certification. --- ### **Industry Position & Market Opportunity** - The **Indian vocational education sector remains under-penetrated**, presenting strong growth potential driven by: - Government initiatives like **Skill India Mission**. - Rising demand for job-ready skills in **media, entertainment, and sports**. - Increased digital adoption and blended learning models. - Growing societal and parental acceptance of non-traditional career paths is boosting demand for Ironwood’s programs. --- ### **Competitive Advantage & Challenges** **Strengths**: - Curriculum co-developed with **industry professionals and leaders**. - **Industry-experienced visiting faculty**, including luminaries like **Ravi Shastri, B. Arun, and R. Sridhar** (advisors for Coach Certification). - Strong **alumni network** of over **15,000 globally** (as of Dec 2022). - Blended learning model combining **classroom instruction with internships**, including placements with **international firms in Dubai**. - Focus on **grassroots sports development** and integration of education with industry practice. **Challenges**: - **Low entry barriers** in the certificate course market lead to **unreliable competitors**, potentially eroding market trust. - Ironwood counters this by emphasizing **quality, accreditation, and consistent student outcomes** to differentiate from fly-by-night operators. - Past disruptions due to **pandemic-related slowdowns in sports and event sectors** (particularly in 2020), though recovery is underway. --- ### **Marketing & Enrollment Drivers** - Digital-first strategy using **social media, search engine optimization, and targeted online content**. - Relies on **brand credibility**, built through: - Alumni success and job placements. - Industry partnerships. - Advisory board composed of respected figures in sports and media. - Enrollment depends on **curriculum relevance, geographic reach, quality delivery, and competitive differentiation**.