During Wednesday’s trading session, the shares of one of the leading global cybersecurity company in India hit a 5 percent upper circuit at Rs. 685.1, after the company announced acquiring 200 new clients, including Microsoft and Lenovo, in the month of September.
With a market capitalisation of Rs. 716.8 crores, at 02:16 p.m., the shares of TAC InfoSec Limited were trading in the green at Rs. 683.95, up by nearly 4.8 percent, as against its previous closing price of Rs. 652.5.
What’s the News:
According to the latest regulatory filings with the NSE, TAC InfoSec Limited acquired 200 new customers across 32 countries in September 2024 alone.
Among TAC Security’s prestigious new clients are Microsoft, Gen Digital, Brother Industries, Sedric, Yext, Freshworks, and Lenovo.
Leading the customer acquisition numbers is the US, followed closely by the UK and France, demonstrating TAC Security’s broad geographic reach, with new clients spread across the US, Japan, China, India, and other key markets.
The company plans to capitalise on this momentum by strategically upselling its full suite of cybersecurity solutions to these newly acquired clients, ensuring they receive comprehensive, industry-leading protection that meets and exceeds global cybersecurity standards.
As it looks to the future, TAC Security remains focused on its ambitious goal of becoming the world’s largest vulnerability management company by March 2026.
The company is on track to meet its target of securing 10,000 customers globally by that date, with a near-term objective of acquiring 3,000 new clients by March 2025.
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.
Financials:
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 16 percent, rising from Rs. 10 crores in FY23 to Rs. 11.6 crores in FY24.
During the same period, the company’s net profit rose from Rs. 5.07 crores to Rs. 6.3 crores, reflecting a growth of 24.3 percent YoY.
About the Company:
TAC InfoSec Limited (brand name TAC Security) is India’s first publicly listed cybersecurity company specialising 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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