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About Greycells
Greycells is a publicly listed company based in Mumbai (India). Higher Education and Vocational training. It operates on a B2B model. Its Indian entity Ironwood Education Limited reported revenue of ₹53.39 Cr.
Company details
Greycellsnbsp;currently runs and manages EMDI Institute of Media amp; Communication, The Business India Institute of Finance and The International Institute of Sports Management. It is a company listed on the BSE with a market capital of around US 4 million. Greycells also has a strategic equity stake in Access Atlantech Edutainment (I) Ltd. (AAT).
- Headquarters Mumbai, India
- Stage Public
- Website greycellsltd.com
- Legal Name Ironwood Education Limited
- Date of Incorporation 14 Sep, 1983
- Jurisdiction Mumbai, Maharashtra, India
Key Metrics
- Market Cap₹83.89 Cr
IRONWOOD · BSE
- Share Price₹51.00
+2.02% today
- Revenue₹52.58 Cr
FY 2025-26 · +1419.7% YoY
- EBITDA₹8.34 Cr
Margin 15.9%
- Net Profit₹3.98 Cr
FY 2025-26 · +685.3% YoY
- P/E (TTM)13.0x
P/B 2.5x
- ROE8.8%
ROCE 11.8%
- Debt / Equity1.08
Interest cover 34.2x
Associated legal entities of Greycells
Greycells is associated with 2 registered companies on The Company Check; the primary company is Ironwood Education Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Ironwood Education Limited Listed CIN L68100MH1983PLC030838 | Active | 14 Sep 1983 | Kandivali East, Maharashtra | ₹53.4 Cr | 10 | View details | |
| Ironwood Education Limited CIN L65910MH1983PLC030838 | 14 Sep 1983 | Mumbai, Maharashtra, India | View details |
Board of directors of Ironwood Education Limited (Greycells)
Ironwood Education Limited is the primary company behind Greycells. The board of Ironwood Education Limited currently have 8 directors; the longest-serving is Rakesh Madanlal Bhatia, appointed in 2024. 23 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Rakesh Madanlal Bhatia DIN 00008192 | Director | 24 Sep 2024 | 2 yrs 1 mo | Ironwood Education Limited |
| Sumit Kailash Somani DIN 00985143 | Director | 13 Nov 2024 | 1 yr 11 mo | Ironwood Education Limited |
| Sanjay Panicker DIN 08091505 | Director | 22 Nov 2024 | 1 yr 11 mo | Ironwood Education Limited |
| Vijayshankar Ambikaprasad Tripathi DIN 02363151 | Whole-time director | 06 Aug 2025 | 1 yr 2 mo | Ironwood Education Limited |
| Nitish Ganesh Nagori DIN 09775743 | Whole-time director | 25 Nov 2025 | 11 mo | Ironwood Education Limited |
| Balaji Raghavan DIN 05326740 | Managing Director | 25 Nov 2025 | 11 mo | Ironwood Education Limited |
| Rohit Lal DIN 08535306 | Director | 31 Dec 2025 | 10 mo | Ironwood Education Limited |
| Vedika Akhilesh Chaubey DIN 03098292 | Director | 31 Dec 2025 | 10 mo | Ironwood Education Limited |
IPO & Listings of Greycells
Greycells is a publicly listed company on the BSE with ticker symbol IRONWOOD in India, operating in the Education sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- Listed onBSE: IRONWOOD
- Listed entityIronwood Education Limited
- Exchange sectorEducation
Financials of Greycells
Exchange-reported figures of Ironwood Education Limited, the listed company behind Greycells (BSE: IRONWOOD).
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹52.58 Cr
+1419.7% YoY
EBITDA
₹8.34 Cr
+174.1% YoY
Profit After Tax
₹3.98 Cr
+685.3% YoY
Net Worth
₹31.22 Cr
+45.0% YoY
Total Assets
₹71.16 Cr
+82.7% YoY
Total Debt
₹39.73 Cr
+130.2% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 52.58 | 3.46 | 4.07 | 2.37 | 2.19 | 2.63 | 5.58 |
| Revenue growth | +1419.7% | -15.0% | +71.7% | +8.2% | -16.7% | -52.9% | - |
| EBITDA | 8.34 | (11.25) | (6.06) | (1.17) | (1.33) | (1.40) | (1.19) |
| EBITDA margin | +15.9% | -325.1% | -148.9% | -49.4% | -60.7% | -53.2% | -21.3% |
| Profit before tax | 6.00 | (10.15) | (6.01) | (1.92) | (1.69) | (1.99) | (1.12) |
| Net profit | 3.98 | (0.68) | (1.47) | (1.88) | (1.91) | (2.02) | (1.18) |
| Net profit margin | +7.6% | -19.7% | -36.1% | -79.3% | -87.2% | -76.8% | -21.2% |
| EPS (₹) | 2.33 | (6.74) | (7.62) | (2.38) | (2.40) | (2.55) | (1.49) |
| Balance sheet | |||||||
| Total assets | 71.16 | 38.94 | 15.83 | 22.42 | 21.21 | 21.92 | 22.22 |
| Net worth | 31.22 | 21.53 | 5.97 | 11.84 | 14.08 | 16.05 | 17.86 |
| Total debt | 39.73 | 17.26 | 9.73 | 10.46 | 7.04 | 5.77 | 2.33 |
| Cash & bank | 2.39 | 2.45 | 0.05 | 0.33 | 0.21 | 0.20 | 0.28 |
| Net working capital | 54.80 | 27.91 | (1.05) | (0.63) | (0.58) | (0.70) | (0.65) |
| Cash flow | |||||||
| Cash from operations | (24.41) | (26.14) | (0.82) | (1.29) | (1.38) | (1.81) | 0.83 |
| Cash from investing | (0.03) | (4.02) | 1.48 | (0.26) | (0.42) | 0.10 | (2.19) |
| Cash from financing | 24.38 | 32.56 | (0.94) | 1.67 | 1.81 | 1.63 | 1.28 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.56 | 22.22 | 29.60 | 0.52 | 0.24 | 0.95 | 0.94 | 0.90 |
| Revenue growth (YoY) | +4716.7% | +2239.0% | +3048.9% | -42.2% | -64.2% | - | - | - |
| Other income | 0.20 | 0.42 | 0.19 | 0.17 | 0.04 | 0.58 | 0.09 | 1.25 |
| EBITDA | 1.59 | 2.94 | 6.41 | (0.32) | (0.82) | (9.10) | (1.61) | (0.13) |
| EBITDA margin | +13.8% | +13.2% | +21.7% | -61.5% | -341.7% | -957.9% | -171.3% | -14.4% |
| Depreciation | 0.07 | 0.08 | 0.13 | 0.12 | 0.12 | 0.12 | 0.11 | 0.11 |
| Interest | 0.86 | 0.83 | 1.23 | 0.26 | 0.26 | 0.15 | 0.09 | 0.05 |
| Profit before tax | 0.86 | 2.45 | 5.24 | (0.53) | (1.16) | (8.79) | (1.72) | 0.96 |
| Tax | 0.01 | 2.06 | 0.01 | (0.01) | 0.01 | 0.01 | 0.00 | 0.00 |
| Net profit | 0.85 | 0.39 | 5.23 | (0.52) | (1.17) | (8.80) | (1.72) | 0.96 |
| EPS (₹) | 0.51 | 1.60 | 3.47 | (0.35) | (0.78) | (10.25) | (2.18) | 1.22 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2.10 | 1.87 | 1.58 | 1.26 | 0.74 | 0.83 | 2.77 |
| Revenue growth | +12.3% | +18.4% | +25.4% | +70.3% | -10.8% | -70.0% | - |
| EBITDA | (0.65) | (9.89) | (5.78) | (0.32) | (0.71) | (0.70) | (0.58) |
| EBITDA margin | -31.0% | -528.9% | -365.8% | -25.4% | -96.0% | -84.3% | -20.9% |
| Profit before tax | (0.39) | (10.28) | (5.54) | (0.94) | (0.91) | (1.28) | (0.71) |
| Net profit | (0.31) | (0.79) | (1.00) | (0.90) | (0.94) | (1.31) | (0.77) |
| Net profit margin | -14.8% | -42.3% | -63.3% | -71.4% | -127.0% | -157.8% | -27.8% |
| EPS (₹) | (0.23) | (6.83) | (7.02) | (1.14) | (1.18) | (1.66) | (0.99) |
| Balance sheet | |||||||
| Total assets | 42.31 | 35.44 | 18.53 | 25.05 | 23.30 | 23.15 | 22.96 |
| Net worth | 33.63 | 26.31 | 10.82 | 16.36 | 17.25 | 18.12 | 19.39 |
| Total debt | 8.55 | 9.03 | 7.62 | 8.61 | 5.98 | 4.97 | 1.62 |
| Cash & bank | 1.00 | 1.89 | 0.02 | 0.26 | 0.09 | 0.08 | 0.10 |
| Net working capital | 8.02 | 6.31 | 2.92 | 2.94 | 2.69 | 1.69 | 1.28 |
| Cash flow | |||||||
| Cash from operations | (6.38) | (0.64) | (0.21) | (0.45) | (0.57) | (1.53) | 1.63 |
| Cash from investing | (1.44) | (23.94) | 1.08 | (0.26) | (0.99) | (0.07) | (2.45) |
| Cash from financing | 6.93 | 26.44 | (1.11) | 0.88 | 1.56 | 1.58 | 0.76 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.39 | 0.85 | 0.52 | 0.49 | 0.24 | 0.59 | 0.57 | 0.42 |
| Revenue growth (YoY) | +62.5% | +44.1% | -8.8% | +16.7% | -20.0% | - | - | - |
| Other income | 0.00 | 0.45 | 0.16 | 0.22 | 0.09 | 0.08 | 0.14 | 0.08 |
| Total expenses | 0.76 | 0.91 | 0.69 | 0.56 | 0.59 | 8.75 | 2.03 | 0.52 |
| EBITDA | (0.37) | (0.06) | (0.17) | (0.07) | (0.35) | (8.16) | (1.46) | (0.10) |
| EBITDA margin | -94.9% | -7.1% | -32.7% | -14.3% | -145.8% | -1383.1% | -256.1% | -23.8% |
| Depreciation | 0.05 | 0.06 | 0.11 | 0.10 | 0.10 | 0.11 | 0.11 | 0.11 |
| Interest | 0.07 | 0.06 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Profit before tax | (0.49) | 0.27 | (0.20) | (0.03) | (0.44) | (8.27) | (1.51) | (0.21) |
| Tax | 0.01 | (0.02) | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 04 Nov 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.56 | 22.22 | 29.60 | 0.52 | 0.24 | 0.95 | 0.94 | 0.90 |
| Revenue growth (YoY) | +4716.7% | +2239.0% | +3048.9% | -42.2% | -64.2% | - | - | - |
| Other income | 0.20 | 0.42 | 0.19 | 0.17 | 0.04 | 0.58 | 0.09 | 1.25 |
| EBITDA | 1.59 | 2.94 | 6.41 | (0.32) | (0.82) | (9.10) | (1.61) | (0.13) |
| EBITDA margin | +13.8% | +13.2% | +21.7% | -61.5% | -341.7% | -957.9% | -171.3% | -14.4% |
| Depreciation | 0.07 | 0.08 | 0.13 | 0.12 | 0.12 | 0.12 | 0.11 | 0.11 |
| Interest | 0.86 | 0.83 | 1.23 | 0.26 | 0.26 | 0.15 | 0.09 | 0.05 |
| Profit before tax | 0.86 | 2.45 | 5.24 | (0.53) | (1.16) | (8.79) | (1.72) | 0.96 |
| Tax | 0.01 | 2.06 | 0.01 | (0.01) | 0.01 | 0.01 | 0.00 | 0.00 |
| Net profit | 0.85 | 0.39 | 5.23 | (0.52) | (1.17) | (8.80) | (1.72) | 0.96 |
| EPS (₹) | 0.51 | 1.60 | 3.47 | (0.35) | (0.78) | (10.25) | (2.18) | 1.22 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 52.58 | 3.46 | 4.07 | 2.37 | 2.19 | 2.63 | 5.58 |
| Revenue growth | +1419.7% | -15.0% | +71.7% | +8.2% | -16.7% | -52.9% | - |
| Other income | 0.81 | 1.96 | 1.27 | 0.38 | 0.35 | 0.27 | 0.72 |
| Total expenses | 44.24 | 14.71 | 10.13 | 3.54 | 3.52 | 4.03 | 6.77 |
| Employee cost | 2.35 | 1.54 | 1.66 | 1.53 | 1.27 | 1.62 | 2.20 |
| EBITDA | 8.34 | (11.25) | (6.06) | (1.17) | (1.33) | (1.40) | (1.19) |
| EBITDA margin | +15.9% | -325.1% | -148.9% | -49.4% | -60.7% | -53.2% | -21.3% |
| Depreciation | 0.45 | 0.45 | 0.43 | 0.45 | 0.26 | 0.54 | 0.45 |
| Interest | 2.70 | 0.41 | 0.79 | 0.68 | 0.45 | 0.32 | 0.20 |
| Profit before tax | 6.00 | (10.15) | (6.01) | (1.92) | (1.69) | (1.99) | (1.12) |
| Tax | 2.07 | 0.01 | 0.01 | (0.04) | 0.03 | 0.03 | 0.06 |
| Net profit | 3.98 | (0.68) | (1.47) | (1.88) | (1.91) | (2.02) | (1.18) |
| Net profit margin | +7.6% | -19.7% | -36.1% | -79.3% | -87.2% | -76.8% | -21.2% |
| EPS (₹) | 2.33 | (6.74) | (7.62) | (2.38) | (2.40) | (2.55) | (1.49) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 16.78 | 15.07 | 7.91 | 7.91 | 7.91 | 7.91 | 7.91 |
| Reserves & surplus | 14.44 | 6.46 | (1.94) | 3.93 | 6.17 | 8.14 | 9.95 |
| Shareholders' funds (net worth) | 31.22 | 21.53 | 5.97 | 11.84 | 14.08 | 16.05 | 17.86 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.00 |
| Secured loans | 21.37 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 18.36 | 17.26 | 9.73 | 10.46 | 7.04 | 5.77 | 2.33 |
| Total debt | 39.73 | 17.26 | 9.73 | 10.46 | 7.04 | 5.77 | 2.33 |
| Total liabilities | 71.16 | 38.94 | 15.83 | 22.42 | 21.21 | 21.92 | 22.22 |
| Assets | |||||||
| Gross block | 14.50 | 14.22 | 18.07 | 23.60 | 21.91 | 21.99 | 21.95 |
| Net block | 8.34 | 8.51 | 12.89 | 18.85 | 17.61 | 18.79 | 19.28 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.02 |
| Investments | 2.00 | 2.00 | 3.50 | 3.76 | 3.76 | 3.60 | 2.00 |
| Inventories | 44.48 | 48.53 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 33.71 | 32.65 | 1.12 | 0.49 | 0.45 | 0.67 | 0.55 |
| Cash & bank balances | 2.39 | 2.45 | 0.05 | 0.33 | 0.21 | 0.20 | 0.28 |
| Loans & advances | 12.07 | 13.31 | 0.24 | 0.28 | 0.25 | 0.38 | 0.67 |
| Total current assets | 92.65 | 96.94 | 1.41 | 1.10 | 0.91 | 1.25 | 1.50 |
| Total current liabilities | 37.85 | 69.03 | 2.46 | 1.73 | 1.49 | 1.95 | 2.15 |
| Net working capital | 54.80 | 27.91 | (1.05) | (0.63) | (0.58) | (0.70) | (0.65) |
| Total assets | 71.16 | 38.94 | 15.83 | 22.42 | 21.21 | 21.92 | 22.22 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 2.45 | 0.05 | 0.33 | 0.21 | 0.20 | 0.28 | 0.36 |
| Net cash from operating activities | (24.41) | (26.14) | (0.82) | (1.29) | (1.38) | (1.81) | 0.83 |
| Net cash from investing activities | (0.03) | (4.02) | 1.48 | (0.26) | (0.42) | 0.10 | (2.19) |
| Net cash from financing activities | 24.38 | 32.56 | (0.94) | 1.67 | 1.81 | 1.63 | 1.28 |
| Net change in cash | (0.06) | 2.40 | (0.29) | 0.13 | 0.01 | (0.08) | (0.08) |
| Closing cash | 2.39 | 2.45 | 0.05 | 0.33 | 0.21 | 0.20 | 0.28 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +1419.7% | -15.0% | +71.7% | +8.2% | -16.7% | -52.9% | - |
| EBITDA growth | +174.1% | -85.6% | -418.0% | +12.0% | +5.0% | -17.7% | - |
| PBT growth | +9998.0% | -68.9% | -213.0% | -13.6% | +15.1% | -77.7% | +60.6% |
| Net income growth | +685.3% | +53.7% | +21.8% | +1.6% | +5.5% | -71.2% | - |
| Revenue CAGR (3Y) | +181.0% | +16.5% | +15.7% | -24.8% | -27.5% | -28.9% | -7.7% |
| EBITDA CAGR (3Y) | - | +103.8% | +63.0% | -0.6% | -24.1% | -5.1% | -5.5% |
| Profitability & leverage | |||||||
| Net income margin | +7.5% | -293.6% | -147.9% | -79.3% | -78.5% | -76.8% | -21.2% |
| Return on capital employed | +11.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | +8.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 1.08 | 0.98 | 1.13 | 0.68 | 0.43 | 0.24 | 0.09 |
| Long-term debt / equity | 1.08 | 0.98 | 1.13 | 0.58 | 0.29 | 0.19 | 0.09 |
| Interest cover | 34.22 | -3.50 | -12.17 | -41.98 | -28.30 | -16.49 | -12.20 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 3.66 | 0.21 | 0.20 | 0.10 | 0.10 | 0.12 | 0.27 |
| Inventory turnover | 1.13 | 0.14 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 1.58 | 0.20 | 5.06 | 5.04 | 3.91 | 4.31 | 10.63 |
| EPS (₹) | 2.33 | (6.74) | (7.62) | (2.38) | (2.40) | (2.55) | (1.49) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 18.61 | 14.29 | 7.55 | 14.97 | 17.80 | 20.29 | 22.58 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.39 | 0.85 | 0.52 | 0.49 | 0.24 | 0.59 | 0.57 | 0.42 |
| Revenue growth (YoY) | +62.5% | +44.1% | -8.8% | +16.7% | -20.0% | - | - | - |
| Other income | 0.00 | 0.45 | 0.16 | 0.22 | 0.09 | 0.08 | 0.14 | 0.08 |
| Total expenses | 0.76 | 0.91 | 0.69 | 0.56 | 0.59 | 8.75 | 2.03 | 0.52 |
| EBITDA | (0.37) | (0.06) | (0.17) | (0.07) | (0.35) | (8.16) | (1.46) | (0.10) |
| EBITDA margin | -94.9% | -7.1% | -32.7% | -14.3% | -145.8% | -1383.1% | -256.1% | -23.8% |
| Depreciation | 0.05 | 0.06 | 0.11 | 0.10 | 0.10 | 0.11 | 0.11 | 0.11 |
| Interest | 0.07 | 0.06 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Profit before tax | (0.49) | 0.27 | (0.20) | (0.03) | (0.44) | (8.27) | (1.51) | (0.21) |
| Tax | 0.01 | (0.02) | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2.10 | 1.87 | 1.58 | 1.26 | 0.74 | 0.83 | 2.77 |
| Revenue growth | +12.3% | +18.4% | +25.4% | +70.3% | -10.8% | -70.0% | - |
| Other income | 0.92 | 0.36 | 1.30 | 0.49 | 0.46 | 0.23 | 0.46 |
| Total expenses | 2.75 | 11.76 | 7.36 | 1.58 | 1.45 | 1.53 | 3.35 |
| Employee cost | 1.03 | 0.87 | 0.86 | 0.73 | 0.60 | 0.73 | 1.14 |
| EBITDA | (0.65) | (9.89) | (5.78) | (0.32) | (0.71) | (0.70) | (0.58) |
| EBITDA margin | -31.0% | -528.9% | -365.8% | -25.4% | -96.0% | -84.3% | -20.9% |
| Depreciation | 0.37 | 0.44 | 0.43 | 0.44 | 0.24 | 0.52 | 0.43 |
| Interest | 0.29 | 0.31 | 0.63 | 0.67 | 0.42 | 0.29 | 0.16 |
| Profit before tax | (0.39) | (10.28) | (5.54) | (0.94) | (0.91) | (1.28) | (0.71) |
| Tax | 0.00 | 0.01 | 0.01 | (0.04) | 0.03 | 0.03 | 0.06 |
| Net profit | (0.31) | (0.79) | (1.00) | (0.90) | (0.94) | (1.31) | (0.77) |
| Net profit margin | -14.8% | -42.3% | -63.3% | -71.4% | -127.0% | -157.8% | -27.8% |
| EPS (₹) | (0.23) | (6.83) | (7.02) | (1.14) | (1.18) | (1.66) | (0.99) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 16.78 | 15.07 | 7.91 | 7.91 | 7.91 | 7.91 | 7.91 |
| Reserves & surplus | 16.85 | 11.24 | 2.91 | 8.45 | 9.34 | 10.21 | 11.48 |
| Shareholders' funds (net worth) | 33.63 | 26.31 | 10.82 | 16.36 | 17.25 | 18.12 | 19.39 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 8.55 | 9.03 | 7.62 | 8.61 | 5.98 | 4.97 | 1.62 |
| Total debt | 8.55 | 9.03 | 7.62 | 8.61 | 5.98 | 4.97 | 1.62 |
| Total liabilities | 42.31 | 35.44 | 18.53 | 25.05 | 23.30 | 23.15 | 22.96 |
| Assets | |||||||
| Gross block | 6.03 | 5.85 | 5.85 | 5.04 | 4.15 | 4.00 | 3.96 |
| Net block | 0.58 | 0.77 | 1.17 | 1.60 | 0.35 | 1.51 | 1.99 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.02 |
| Investments | 28.00 | 28.00 | 14.06 | 20.13 | 20.13 | 19.72 | 18.10 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 0.47 | 0.35 | 0.31 | 0.01 | 0.03 | 0.11 | 0.06 |
| Cash & bank balances | 1.00 | 1.89 | 0.02 | 0.26 | 0.09 | 0.08 | 0.10 |
| Loans & advances | 7.61 | 4.88 | 3.97 | 3.38 | 3.17 | 2.13 | 2.11 |
| Total current assets | 9.08 | 7.12 | 4.30 | 3.65 | 3.29 | 2.32 | 2.27 |
| Total current liabilities | 1.06 | 0.81 | 1.38 | 0.71 | 0.60 | 0.63 | 0.99 |
| Net working capital | 8.02 | 6.31 | 2.92 | 2.94 | 2.69 | 1.69 | 1.28 |
| Total assets | 42.31 | 35.44 | 18.53 | 25.05 | 23.30 | 23.15 | 22.96 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1.89 | 0.02 | 0.26 | 0.09 | 0.08 | 0.10 | 0.16 |
| Net cash from operating activities | (6.38) | (0.64) | (0.21) | (0.45) | (0.57) | (1.53) | 1.63 |
| Net cash from investing activities | (1.44) | (23.94) | 1.08 | (0.26) | (0.99) | (0.07) | (2.45) |
| Net cash from financing activities | 6.93 | 26.44 | (1.11) | 0.88 | 1.56 | 1.58 | 0.76 |
| Net change in cash | (0.89) | 1.87 | (0.24) | 0.17 | 0.01 | (0.02) | (0.06) |
| Closing cash | 1.00 | 1.89 | 0.02 | 0.26 | 0.09 | 0.08 | 0.10 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +12.3% | +18.4% | +25.4% | +70.3% | -10.8% | -70.0% | - |
| EBITDA growth | +93.4% | -71.1% | -1706.3% | +54.9% | -1.4% | -20.7% | - |
| PBT growth | +96.2% | -85.6% | -489.4% | -3.3% | +28.9% | -80.3% | +5.3% |
| Net income growth | +60.8% | +21.0% | -11.1% | +4.3% | +28.2% | -70.1% | - |
| Revenue CAGR (3Y) | +18.6% | +36.2% | +23.9% | -23.1% | -34.9% | -33.6% | -0.2% |
| EBITDA CAGR (3Y) | +26.6% | +140.6% | +102.1% | -18.0% | -11.4% | -26.2% | -19.7% |
| Profitability & leverage | |||||||
| Net income margin | -18.6% | -550.3% | -351.3% | -71.4% | -127.0% | -157.8% | -27.8% |
| Return on capital employed | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 0.29 | 0.45 | 0.60 | 0.43 | 0.31 | 0.18 | 0.06 |
| Long-term debt / equity | 0.29 | 0.37 | 0.40 | 0.29 | 0.19 | 0.13 | 0.06 |
| Interest cover | -28.43 | -3.00 | -10.14 | -88.16 | -44.21 | -23.77 | -15.84 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.35 | 0.32 | 0.29 | 0.27 | 0.18 | 0.21 | 1.16 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 5.12 | 5.67 | 9.88 | 63.00 | 10.57 | 9.76 | 69.25 |
| EPS (₹) | (0.23) | (6.83) | (7.02) | (1.14) | (1.18) | (1.66) | (0.99) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 20.04 | 17.46 | 13.68 | 20.69 | 21.81 | 22.92 | 24.51 |
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Frequently Asked Questions about Greycells
Greycells is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
The primary company behind Greycells, Ironwood Education Limited, reported revenue of ₹53.39 Cr for FY 2026, up 1420% year on year.
Greycellsnbsp;currently runs and manages EMDI Institute of Media amp; Communication, The Business India Institute of Finance and The International Institute of Sports Management. It is a company listed on the BSE with a market capital of around US 4 million. Greycells also has a strategic equity stake in Access Atlantech Edutainment (I) Ltd. (AAT).
Yes, Greycells is publicly traded on BSE under the ticker symbol IRONWOOD.
Greycells operates through Ironwood Education Limited.
The legal entities of Greycells currently have 9 directors, including Dharmesh Kevalbhai Parekh, Nitish Ganesh Nagori, Rohit Lal and others.