Tanla Platforms Limited (TANLA)
Micro CapIT stocks · Micro cap · NSE
Tanla Platforms Limited focuses on Digital Platforms (innovation engine) and Enterprise Communications (scale with enterprise). It offers E2E omnichannel presence (SMS, Voice, OTT, chatbot) with 10k+ APIs, holding ~35% market share in India CPaaS. 100% revenue from SaaS business models.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Investable fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Average · 52/100margin compression · Rev +18% YoY · PAT +20% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,226 Cr | +17.8% | +4.1% |
| EBITDA | ₹201 Cr | +22.6% | +4.7% |
| Operating margin | 16.0% | +0 bps | +0 bps |
| PAT | ₹142 Cr | +20.3% | +6.0% |
| PAT margin | 11.6% | +24 bps | +20 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Tanla Platforms reports strong Q1 FY27 with 17.8% YoY revenue growth to ₹12,264 Mn, driven by existing customer wallet share and new additions. PAT grew 20.1% YoY to ₹1,422 Mn, with FCF at 89% of PAT. Gross margin contracted 40 bps QoQ due to customer mix.
The company delivered consistent sequential and strong YoY growth in Q1 FY27, driven by both existing customer expansion and new logo additions. While gross margin saw a slight QoQ contraction due to customer mix, profitability metrics like EBITDA and PAT showed robust YoY and QoQ improvement. Strong FCF generation and a debt-free balance sheet provide financial stability.
Revenue by Business Segment
Latest issuer-disclosed distribution across 2 reported categories.
Existing Customer Wallet Share
Existing customers contributed ₹458 Mn QoQ and ₹1,195 Mn YoY to revenue growth.
New Customer Additions
New customer additions contributed ₹31 Mn QoQ and ₹662 Mn YoY to revenue growth.
Digital Platform Offerings
YoY growth in Digital Platforms led by Wisely.ai, RCS MaaP Platform, and Trubloq.
Omnichannel Messaging Channels
YoY growth was led by Wisely.ai, SMS and OTT from a channel perspective.
CPaaS Market Leadership
Undisputed market leadership with ~35% market share in India.
SaaS Business Model
100% of revenue from SaaS business models, enabling predictable growth.
Strong Balance Sheet
Debt-free with ₹11,970 Mn cash and cash equivalents.
Gross Margin Contraction
Overall gross margin contracted by 40 bps in Q1 FY27 due to change in customer mix.
Market Conditions & Adoption Pace
Changes in market conditions; the pace of digital communication adoption.
Pricing Pressure & Competition
Pricing pressure and competition; customer concentration.
Technology & Cybersecurity
Shifts in technology standards and platform interoperability; cyber security incidents.
Regulatory & Macroeconomic Volatility
Changes in applicable laws, regulations and government policies; macroeconomic volatility.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The company emphasizes both sequential growth (fifth consecutive quarter, QoQ revenue contribution) for momentum and YoY growth for overall business expansion and profitability trends across segments.
Revenue
₹12,264 Mn, up 4.1% QoQ and 17.8% YoY.
EPS
₹10.77, up 5.8% QoQ and 22.1% YoY.
Free Cash Flow (FCF)
₹1,259 Mn, 89% of PAT.
Cash & Cash Equivalents
₹11,970 Mn post dividend payouts of ₹796 Mn.
Disciplined Investment
Disciplined investment in talent, primarily across GTM and Innovation, to support long-term growth.
Sustained Value Creation
Track record of strong performance, sustained value creation over eight years.
CPaaS Industry Evolution
The CPaaS industry in India is evolving rapidly, and reliable public information on the overall market remains limited.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| DSO | 79 days in Q1 FY27 | Further increases in DSO, indicating potential working capital strain. |
| Gross Margin | 26.6% in Q1 FY27 | Monitor gross margin trends, especially in Enterprise Communications, for impact of customer mix. |
| New Customer Revenue Contribution | ₹31 Mn in Q1 FY27 | Track new customer revenue contribution for sustained growth momentum. |
| Digital Platforms Growth | 12.2% YoY | Monitor growth rate and contribution of Digital Platforms for diversification and innovation. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
48NeutralSMA20 -4.9% / mo · MACD −
Technical chart
TANLAdaily · 1Y · AUTO+18.2%Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 38.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~5.1% over last month) — short-term momentum negative.
- RSI(14) at 38 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 32% off 52W high · 42% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 65 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 65 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
UNDERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- FCF yield is supportive at 9.0%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 33.7%.
Main drags
- Growth is weaker at 10/25; verify the latest quarterly trend.
- Valuation is weaker at 16/30; verify the latest quarterly trend.
- Quality is weaker at 13/20; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +3 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
High Trust: Claim history is still being built. It ranks around the 99th percentile of the scored universe and 98th percentile within IT. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero. Key concern: ROCE trend is -4.7%.
Management behaviour ranks as unusually reliable. Still verify valuation and cycle risk.
overall median 67 · IT: 98th pctile, median 69 · Micro: 98th pctile, median 73
126 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
High Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is 9%.
- ▸11 years of positive FCF.
- ▸Debt/equity is 0.02.
Trust risks
- ▸ROCE trend is -4.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 13.00
- P/B
- 2.77
- EV/EBITDA
- 7.83
- Market Cap
- 6912.00Cr
Profitability
- ROE
- 21.40%
- ROCE
- 26.30%
- ROA
- 14.29%
- Dividend Y
- 2.30%
Growth (CAGR)
- Revenue 5Y
- 14.00%
- EPS 5Y
- 8.00%
- Revenue 3Y
- 10.00%
- EPS 3Y
- 4.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- 190.25×
- Altman Z
- 6.42
- Book Value
- 188.00
Cash Flow
- FCF Yield
- 9.00%
- FCF Positive Y
- 11/5
- OCF
- 574.00 Cr
- EPS TTM
- 40.19
Shareholding
- Promoter Hold
- 46.17%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 39%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in IT, ranked by similarity
Peers
Business-comparable names in IT, ranked by similarity
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.