In Tuesday’s trading session, the shares of one of the leading global cybersecurity company in India surged by 9.8 percent to Rs. 608, after reporting financial results for Q1 FY24-25 with a rise in the net profit of 93 percent YoY.
With a market capitalisation of Rs. 625.6 crores, at 12:10 p.m., the shares of TAC InfoSec Limited were trading in the green at Rs. 592, up by nearly 7 percent, as against its previous closing price of Rs. 553.55.
Is TAC InfoSec a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
What’s the News:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the NSE on Monday post-market hours.
The total revenue (including other income) for Q1 FY24-25 stood at Rs. 5.14 crores, marking a 94 percent YoY rise from Rs. 2.65 crores in Q1 FY23-24.
The net profit jumped by 93.3 percent YoY to Rs. 2.32 crores in Q1 FY24-25, as against Rs. 1.2 crores in Q1 FY23-24.
The net profit and revenue growth was primarily led by a rapid increase in customer base and ongoing global market expansion.
TAC InfoSec expanded its client base to 590 in Q1 FY24-25, as compared to 9 clients added in Q1 FY23-24, indicating a rise of 6455.6%. This growth is complemented by the company’s expansion into 55 countries, up from 22 countries just one quarter ago.
In Q1 FY24-25, global brands, including Salesforce, AutoDesk, Nissan Motors, and Xerox, subscribed to TAC Security products.
About TAC InfoSec IPO:
Backed by the stock market expert Vijay Kedia, TAC InfoSec Limited debuted on NSE Emerge on April 5, 2024, with a 174 percent premium over the offer price.
Through its first Initial Public Offering (IPO), the company raised ~Rs. 30 crore, and received bids surpassing $1 billion, leading to a 422-fold oversubscription.
About the Company:
TAC InfoSec Limited (brand name TAC Security) is India’s first publicly listed cybersecurity company specializing in vulnerability management. The
company offers security software products and solutions, and protects Fortune 500 companies, leading enterprises, and governments around the world.
Written by Shivani Singh
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