Vijay Kedia’s portfolio multibagger IT-software stock hit upper circuit as company successfully concludes its strategic acquisitions in the USA and UAE
The stock gave multibagger returns of 176.50 per cent from its 52-week low of Rs 261.10 per share.
TAC InfoSec Limited, a global cybersecurity company specialising in vulnerability management and India’s first publicly listed cybersecurity company, today announced the successful completion of two strategic acquisitions in the US and UAE.
USA Acquisition
The company announced its intent to acquire CyberSandia - a U.S.-based cybersecurity firm holding a statewide government contract to provide IT services for the State of New Mexico, on 23rd August 2024. This acquisition, now completed successfully, will strengthen TAC Security’s presence in the U.S. market and is a significant step toward expanding its global footprint in the public sector. The company also appointed Hector Balderas to the Board of Directors in the U.S. Hector is a former Attorney General of New Mexico and highlights the company’s intent to further capitalise upon the vast opportunities the region has to offer for its cybersecurity spending across the public and private markets. In March 2023, the state announced an increase in its cybersecurity budget, allocating $45 million to protect state assets and infrastructure against evolving cyber threats.
UAE Acquisition
With the acquisition of WOS - TAC Cyber Security Consultancy L.L.C in the UAE, TAC Security has strategically positioned itself to cater to the growing demand for advanced cybersecurity services in the Gulf Cooperation Council (GCC) region and the broader Middle East. The UAE, a major financial and technological hub, provides an ideal base for TAC Security to deliver cutting-edge cybersecurity expertise and solutions to local enterprises and government entities. This expansion is crucial to TAC Security’s broader mission to enhance its presence and operational capabilities in the Middle East, a region experiencing rapid growth in cybersecurity needs. The new UAE subsidiary allows TAC Security to diversify its client base and provide seamless services to cross-border clients throughout the GCC.
On Tuesday, shares of TAC InfoSec Limited hit a 5 per cent upper circuit to Rs 721.95 per share with an intraday high of Rs 728.95 and an intraday low of Rs 718 from its previous closing of Rs 687.60.
TAC InfoSec, India's first publicly listed cybersecurity company, has announced impressive financial results for its first quarter of the fiscal year 2025. The company's total revenue surged by 93.81 per cent to Rs 5.14 crore, including Rs 27.8 lakh in other income, compared to the previous quarter. This strong performance was driven by a significant increase in both customer base and global market penetration.
Profitability also soared, with a 94.45 per cent quarter-on-quarter increase in net profit to Rs 2.32 crore. This translates to a robust profit margin of 47.74 per cent. The company's earnings per share reached INR 2.22, reflecting solid earnings growth. TAC Security's expanding footprint now covers 55 countries, with a remarkable addition of 590 clients in Q1FY25, compared to just 32 in the preceding quarter.
This rapid growth is a testament to TAC Security's ability to address the increasing global demand for advanced cybersecurity solutions. The company's client portfolio now boasts high-profile international brands such as Salesforce, AutoDesk, Nissan Motors, and Xerox, alongside existing giants like Reliance ADA Group and an American Fortune 10 company. This influx of new clients underscores the trust and confidence major organizations place in TAC Security's cutting-edge cybersecurity offerings.
The shares of the company have a 52-week high of Rs 900 and a 52-week low of Rs 261.1. The stock gave multibagger returns of 176.50 per cent from its 52-week low of Rs 261.10 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.