The shares of this AI-based company hit 5 percent upper circuit of Rs 915.25 after the company achieved a milestone by becoming an ioXt Authorized Lab.
With a market capitalization of Rs 959.15 crore, the shares of TAC Infosec Ltd were trading at Rs 915.25 percent, increasing around 5 percent as compared to the previous closing price of Rs 871.70 per share.
Reason for Rise:-
Today, the shares of the company have seen positive movement after TAC Infosec Ltd marked a significant milestone by becoming an ioXt Authorized Lab. The organization is authorized to conduct IoT Security Assessments under the prestigious ioXt Certification Program, ensuring that connected devices satisfy the most stringent worldwide security, transparency, and upgradability requirements.
Moreover, with this recognition, TAC Security joins an exclusive group of just eight organizations worldwide, demonstrating its leadership in advancing advanced evaluations for a safer digital future.
Additionally, the business will enter the rapidly developing IoT (Internet of Things) security sector by providing IoT security evaluations via its ESOF platforms. It will also improve its IoT Software Development Services as part of this expansion, guaranteeing scalable and safe solutions. The services will be made available by the corporation starting in February 2025.
Market Insight:-
With an estimated 25.4 billion IoT devices expected by 2030, IoT security is critical for safeguarding smart cities, healthcare systems, industrial automation, and smart homes. The market, projected to grow to $59 billion by 2030, underscores the urgent need for stringent IoT security assessments.
Achievement:-
TAC Security recently achieved a significant milestone by adding 331 new clients in November across 42 countries. This achievement marks steady progress towards the company’s goal of onboarding 3,000 clients by March 2025
Financial performance:-
Examine the company’s financial condition, revenue zoomed by 140 percent from Rs 5 crore in H1FY24 to Rs 12 crore in H1FY25, and during the same time frame, net profit magnified by 250 percent from Rs 2 crore to Rs 7 crore.
Prominent investor:-
Ace investor Vijay Kedia holds 1,530,000 shares, i.e. equivalent to 14.6 percent of the company as of September 2024.
Ratio analysis:-
The company’s critical ratios show that the return on equity decreased from 66.04 percent in FY22-23 to 44.86 percent in FY23-24, while the return on capital employed decreased from 51.88 percent to 35.83 percent. The net profit margin (NPM) for fiscal year 23-24 is 54.49 percent.
Company profile:-
TAC Infosec Limited offers risk-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing services to organizations. Operating through a Software-as-a-Service (SaaS) model, it offers cybersecurity solutions to meet the specific needs and challenges faced by businesses.
Written by:- Abhishek Singh
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