Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 27 Aug
Source: Bse
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.
₹577.15
+24.80 · +4.49%
Market cap ₹7,534 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 10:30 am ISTDetails
Quote21 Oct, 10:30 am IST
Base fundamentals14 Oct 2026 · screener
Latest result23 Jul, 02:33 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
73BullishSMA20 -2.7% / mo · MACD + · sector +18.0pp vs Nifty 500 (3M)
Stock trend: 55
Sector RS: 100
Sector 3M: +13.0% vs Nifty 500 -5.0%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TANLAD candles · FIT view+3.1%TODAY · PROVISIONALLatest price ₹577.15 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
+4.5%
RSI
69
MACD hist
10.38
52W pos
73%
2026-10-21O ₹552.35H ₹586.70L ₹551.00C ₹577.15Vol 13.6L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TANLANifty ITNifty 500
- TANLA
- -3.6%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- +2.0 pp
Chart stats
19 Oct 2026- From 52W high
- -24.0%
- 52W range position
- 52%
- ATR (14)
- 3.7%
- Volume vs 20D
- 0.97x
- Avg traded value
- ₹27.4 Cr
- 20D price channel
- ₹480.8 - ₹585
₹726.8
₹365.9 - ₹726.8
₹20.7
Latest completed session
20-session average
39.3% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED62
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average52
Revenue +17.8% · PAT +20.3% YoY
Technical
Bullish73
Price trend and sector-relative-strength timing.
Valuation
Legacy model+26.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence86
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 52/100margin compression · Rev +18% YoY · PAT +20% YoY
Filed 22 Jul 2026
Open results browser →| 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.
Fundamentals
Valuation
- P/E
- 14.10
- P/B
- 3.02
- EV/EBITDA
- 8.53
- Market Cap
- 7534.00Cr
Profitability
- ROE
- 21.40%
- ROCE
- 26.30%
- ROA
- 14.29%
- Dividend Y
- 2.08%
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
- 6.72
- Book Value
- 188.00
Cash Flow
- FCF Yield
- 8.26%
- FCF Positive Y
- 11/5
- OCF
- 574.00 Cr
- EPS TTM
- 40.19
Shareholding
- Promoter Hold
- 46.17%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 56%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,226+4.1% vs prev
Net Profit
₹ CrLatest: 142+6.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 69. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~1.2% over last month) — short-term momentum negative.
- RSI(14) at 69 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 12% off 52W high · 58% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
61
RS percentile
Stage 2 UptrendNew S2
1M return
+12.9%
3M return
-3.6%
6M return
+10.4%
1Y return
-8.6%
RS 1D
+1
RS 20D
+23
Sector rank
#8
Industry rank
#39
Stage evidence
- Price is 5.8% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +1.8%.
50-DMA
price above
200-DMA
price above
S2 entered
13 Oct 2026
S2 age
5 trading sessions
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 85.73-0.28%
RS vs Nifty 50086
Valuation & peers
U-Score 62 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 62 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · UNDERVALUEDValuation13/30
Growth10/25
Quality13/20
Balance Sheet11/15
Cash Flow10/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
62
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
62/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 8.3%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 26.6%.
Main drags
- Growth is weaker at 10/25; verify the latest quarterly trend.
- Valuation is weaker at 13/30; verify the latest quarterly trend.
- Quality is weaker at 13/20; verify the latest quarterly trend.
Sector valuation model
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.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
14.1
PB
3.0
EV/EBITDA
8.5
ROE
21.4%
ROCE
26.3%
FCF Yield
8.3%
Debt/Equity
0.0
MoS
+26.6%
Score movement
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.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
62
Previous: 62
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+26.6%
Previous: +29.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
67
67
67
67
65
62
62
62
62
62
62
62
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹412.32
-40.0% MoS
Growth-justified P/E
19.6
Growth-justified Value
₹785.71
+26.6% MoS
PEG
2.20
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
MASTEK
Micro
Mastek Limited
IT Services / Digital
match 128
72
12.1
15.3%
+58%
UNDERVALUED
RATEGAIN
Micro
Rategain Travel Technologies Limited
IT Services / Digital
match 127
40
39.2
11.9%
-22%
WATCHLIST
HAPPSTMNDS
Micro
Happiest Minds Technologies Limited
IT Services / Digital
match 126
35
20.8
13.8%
-34%
WATCHLIST
SONATSOFTW
Large
Sonata Software Limited
IT Services / Digital
match 125
66
13.8
28.2%
+55%
UNDERVALUED
NEWGEN
Large
Newgen Software Technologies Limited
IT Services / Digital
match 125
63
19.8
19.6%
+32%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-23T03:11:38.383Z
Management commentary snapshot
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.
Current business mix
Revenue by Business Segment
Latest issuer-disclosed distribution across 2 reported categories.
Digital Platforms8.4%
Enterprise Communications91.6%
Growth engines
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.
Tailwinds
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.
Headwinds
Gross Margin Contraction
Overall gross margin contracted by 40 bps in Q1 FY27 due to change in customer mix.
Risk radar
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
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
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.
Sector KPIs management disclosed
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.
Management forward view
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.
Thesis monitor
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.
Trust Score
86Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 99th percentile of the scored universe and 97th percentile within IT. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
126 docs text-extracted · 53 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
99th percentile
overall median 67 · IT: 97th pctile, median 69 · Micro: 98th pctile, median 73
Evidence depth
Financial-only
126 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read 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.
Promoter
78
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
72
acceptable · capital discipline
Results
95
strong · quarterly consistency
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.
Continue researching Tanla Platforms Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 9 Aug - Allotment of 16,665 equity shares under Tanla Platforms Limited- Restricted Stock Unit Plan 2021 ("RSU 2021") and transfer of 36,300 equity shares under TPL Stock …
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Updates on Acquisition 28 Jul - Tanla approved SPA to acquire 100% of ValueFirst Middle East FZC for AED 58.25 million.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 23 Jul - Newspaper Publication of Unaudited Results for quarter ended June 30, 2026.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 1d - Tanla reported Q1 FY27 revenue of ₹1,226 Cr and PAT of ₹142 Cr, up year-on-year.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Jun - Newspaper advertisement for information regarding 30th Annual General Meeting of the Company
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 28 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Jun
Source: Bse
Annual report
Business Responsibility and Sustainability Reporting (BRSR) 27 Jun - Tanla filed its FY26 BRSR as part of the Integrated Annual Report.
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.