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Tanla hits 5% upper circuit on tie-up with Voda Idea for Wisely Platform

In the past one month, the stock of Tanla has outperformed the market by surging 36 per cent

Buzzing stocks | Markets

SI Reporter  |  Mumbai 

stock market, funds, profit, growth

Shares of Tanla Platforms were locked at 5 per cent upper circuit at Rs 1,675.90 on the BSE on Tuesday after the company and Vodafone Idea (Vi) entered into a partnership to deploy patented block-chain enabled Wisely Platform to manifold increase ROI for global enterprises. This was also the shares' record high level.

"Tanla, a leading CPaaS provider and Vi today announced a partnership wherein Tanla will be the exclusive provider of solutions to secure, encrypt and enhance performance for the entire international messaging traffic on the Vi network. India’s international messaging market is estimated to be around Rs 3,500 crore annually," Tanla Platforms said in exchange filing. CLICK HERE FOR RELEASE

In the past one month, the stock of Tanla has outperformed the market by surging 36 per cent, as compared to a 5 per cent decline in the S&P BSE Sensex. Moreover, in the past three months, it has zoomed 88 per cent, as against a 2 per cent fall in the benchmark index.

For Q2FY22, Tanla Platforms posted 67 per cent year on year (YoY) jump in its profit after tax (PAT) at Rs 136 crore on the back of healthy operational performance. The company's revenue increased by 44 per cent YoY at Rs 842 crore. Earnings before interest, tax, depreciation and amortization (ebitda) margin improved by 452 basis points (bps) at 21.2 per cent.

The company's stellar performance during the quarter was contributed by higher wallet share from existing customers and additional market share expansion from newer clients. The growth was led by BFSI, retail, social media and government.

Tanla's enterprise messaging capabilities were strengthened by the acquisition of Karix (market leader in India CPaaS). It has emerged as an integrated CPaaS solutions provider with an asset-light business model in its new avatar (V2.0)

"Tanla is expected to grow strongly, based on continued growth in enterprise messaging volumes; increasing Trubloq platform volumes (higher margins); scaling up of Wisely platform (developed by Tanla in partnership with Microsoft); and up-selling and client addition," analysts at HDFC Securities said in its initiate coverage report dated November 18, 2021. However, the stock was trading above brokerage firm target price of Rs 1,600 per share.

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First Published: Tue, December 07 2021. 10:19 IST