Inventurus Knowledge Solutions Limited 's step-down subsidiary, Aquity Solutions India Private Limited, has been penalized INR 1.5 crore by the Interim Settlement Board-III under the Ministry of Finance. The fine relates to the misclassification of services under different CPC codes during financial years 2015-16 to 2018-19 for availing Service Exports from India Scheme (SEIS) benefits.

Penalty Details

The Interim Settlement Board-III, constituted under the Customs Act, 1962 through the Finance Act, issued an order dated August 1, imposing the penalty on Aquity Solutions India. The misclassification occurred in the declaration of services rendered by the company before the Directorate General of Foreign Trade (DGFT), Mumbai, for availing SEIS benefits.

Company Background

Aquity Solutions India became a step-down subsidiary of Inventurus Knowledge Solutions Limited after the parent company's subsidiary acquired Aquity Holdings Inc in October 2023. This acquisition expanded Inventurus' presence in the service export sector.

Financial Impact

According to the company's disclosure to the stock exchanges, there is no impact on the financial, operational, or other activities of Inventurus Knowledge Solutions Limited due to this order. The matter now stands closed following the settlement.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency ensures that shareholders and potential investors are informed about significant regulatory actions affecting the company or its subsidiaries.

Market Implications

While the penalty is substantial, the company's statement regarding no financial impact suggests that it may have already provisioned for such contingencies or that the amount is not material to its overall financial position.

The incident highlights the importance of accurate service classification in international trade, particularly for companies leveraging government export promotion schemes. It also underscores the need for robust internal controls and compliance mechanisms in multinational corporations with complex subsidiary structures.

Inventurus Knowledge Solutions Limited, a leading technology-enabled healthcare solutions provider, has reported robust financial results for the first quarter of fiscal year 2026, along with significant changes to its board of directors.

Financial Highlights

For the quarter ended June 30, 2025, Inventurus Knowledge Solutions posted impressive growth:

• Consolidated revenue from operations increased by 15.6% year-over-year to ₹7,400.95 crore
• EBITDA grew by 36.3% year-over-year to ₹2,378.00 crore, with an EBITDA margin of 32.1%
• Profit After Tax (PAT) surged by 58.7% year-over-year to ₹1,515.39 crore
• Adjusted PAT rose by 51.4% year-over-year to ₹1,682.00 crore

The company's performance demonstrates strong momentum in its integrated tech-led care enablement platform, built on solid client relationships and disciplined execution.

Key Business Developments

Inventurus Knowledge Solutions expanded its reach through strategic partnerships:

• New collaboration with Mission Community Hospital for end-to-end revenue cycle management
• Partnership with Bicycle Health to manage revenue cycle and enable rapid growth of their virtual network
• Expanded relationship with OrthoNY to introduce IKS Virtual Clinical Assistant
• Extended partnership with a top 5 U.S. health system for coding services

Board Restructuring and Management Changes

The company announced several significant changes to its board and management structure, effective August 1, 2025:

1. Sachin Gupta, founder and current Whole-time Director, will transition to the role of Additional Director (Non-Executive, Non-Independent). He has been designated as Global CEO of Inventurus Knowledge Solutions Inc., USA, a wholly-owned subsidiary of the company.

2. Nithya Balasubramanian, the current Chief Financial Officer, has been appointed as an Additional Director (Whole-time Director) for a five-year term, subject to shareholder approval.

3. Dr. Garheng Albert Kong joins the board as an Additional Director (Non-Executive, Independent) for a five-year term, pending shareholder approval. Dr. Kong brings extensive experience in healthcare investment and innovation.

Internal Auditor Appointment

The board has reappointed M/s. KKC & Associates LLP, Chartered Accountants, as the Internal Auditor for the financial year 2025-26.

Sachin K. Gupta, Founder & Global CEO of IKS Health, commented on the results: "Our performance this quarter reflects the continued momentum in our business and the stickiness of our integrated tech-led care enablement platform. As we move forward, our focus remains on deepening client value, investing in innovation, and scaling our platform to address the evolving needs of the healthcare ecosystem."

Nithya Balasubramanian, CFO of IKS Health, added: "We delivered a strong financial performance in Q1 FY26, driven by consistent revenue growth and continued focus on operational efficiency. As we move ahead, we remain committed to sustaining healthy margins while strategically investing in capabilities that drive long-term value creation."

The board changes and strong financial results position Inventurus Knowledge Solutions for continued growth and innovation in the healthcare technology sector.