Cyber Security stock backed by Vijay Kedia specializing in providing cybersecurity solutions through a Software as a Service (SaaS) model, focusing on risk-based vulnerability management, penetration testing, and many more jumped 4 percent in the day’s trade upon receiving CREST accreditation for its penetration testing services.
Price Action
With a market capitalization of Rs. 612 Crores, the shares of Tac Infosec Limited were trading at Rs. 584 per equity share, up 2.81 percent from the previous day’s close price of Rs. 568.05.
What Happened
Tac Infosec Limited has announced that it has once again achieved CREST accreditation for its penetration testing services, marking the second consecutive year of this esteemed recognition. The CREST (Council of Registered Ethical Security Testers) accreditation is a globally esteemed certification that signifies excellence in the realm of penetration testing services
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Unlike other certifications, CREST does not mandate a specific penetration testing methodology. Instead, it emphasizes the entire business process, including meticulous scoping and rigorous quality assurance controls for reporting. This comprehensive approach ensures that accredited organizations consistently adhere to industry best practices.
Management Message
On this occasion, Trishneet Arora, Founder and CEO of TAC InfoSec said “Our sustained recognition by CREST underscores our unwavering commitment to providing top-tier cybersecurity services,”
“Earning this prestigious accreditation for the second year in a row is a powerful testament to our team’s exceptional expertise, our innovative methodologies, and our dedication to maintaining the highest quality standards in all our processes and reports. At TAC Security, we are relentless in our pursuit of excellence, ensuring our clients receive the most advanced and reliable cybersecurity solutions available.”
Industry Outlook
The global penetration testing market is witnessing significant growth, driven by an increasing number of cyber threats and the widespread adoption of cybersecurity measures across various industries.
Market research indicates that the penetration testing market size, valued at approximately USD 1.8 billion in 2022, is projected to reach USD 4.5 billion by 2028, growing at a compound annual growth rate (CAGR) of 16.2 percent. This growth is propelled by the escalating need for robust security solutions to safeguard sensitive data and ensure compliance with regulatory standards.
About the Company
TAC Infosec Limited specializes in providing cybersecurity solutions through a Software as a Service (SaaS) model, focusing on risk-based vulnerability management, cybersecurity quantification, and penetration testing for clients across various industries across the globe.
It protects Fortune 500 companies, leading enterprises, and governments worldwide. It manages more than 5 million vulnerabilities through its Artificial Intelligence (AI)-based Vulnerability Management Platform, ESOF (Enterprise Security in One Framework).
TAC Infosec Limited debuted on NSE Emerge on April 5, 2024, with a 174 percent premium over the offer price. Backed by stock market expert Vijay Kedia, the company raised 29.99 crores through its IPO and received bids exceeding 1 billion dollars, resulting in an oversubscription of 422 times.
Financials and Ratios
Its revenue from operations grew by 16.20 percent from Rs. 10 Crores in FY23 to Rs. 11.62 Crores in FY24, accompanied by profits of Rs. 5.07 Crores to Rs. 6.33 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 82.4 percent, and a return on capital employed (ROCE) of 81 percent. It has reported a debt-to-equity ratio of 0.12.
Written by: Bharath K.S
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