TANLA

Tanla Platforms share price & financials

Price
₹584.55
Market cap
₹6.7k Cr
Sector
Information Technology
Calls analysed
5
Latest concall · Q4 FY26 · call held 01 May 2026

Tanla Platforms Q4 FY26

EBITDA Margin 16%

What went well

  • A 'gigantic platform' is expected to launch within a month, representing a significant innovation investment.
  • Bandhan Bank was successfully integrated as the third ATP deal, expanding the company's anti-phishing platform reach.
  • The OTT channel business achieved a run rate of ₹1,000 crores, demonstrating strong growth in new use cases and increased wallet share with existing customers.

What to watch

  • A ₹12 crore FX loss due to USD-INR fluctuation impacted profitability, though it was a non-cash mark-to-market item.
  • The ValueFirst international acquisition continues to face significant regulatory delays from the RBI, hindering its closure.
Read the full call →

What Tanla Platforms Limited does

Tanla Platforms operates two synergistic segments — Digital Platforms (its innovation engine, built on ~100% SaaS-based revenue models) and Enterprise Communications (the scale layer for enterprise messaging) — running an end-to-end omnichannel communication stack spanning SMS, voice and OTT/advanced channels (WhatsApp, Truecaller, RCS, chatbots) for enterprise customers directly and through group brands Karix and ValueFirst. It operates its own Messaging-as-a-Platform (MaaP) infrastructure integrated with telecom carriers and with Google and Meta, and its patented Wisely.ai platform provides AI-based spam/scam detection deployed with telecom operators to protect end consumers. Enterprises are served through 10,000+ APIs deployed for omnichannel integration, monetised via SaaS/usage-based messaging and platform fees.

Segments

  • Digital Platforms
  • Enterprise Communications
Enterprise customers
2,500+
India CPaaS market position
~35% market share; undisputed market leader
Marquee client roster
Serves 9 of India's top 10 banks, 8 of top 10 financial-services leaders, 7 of top 10 insurers and 7 of top 10 social-media companies
Communication channels operated
SMS, voice, OTT (WhatsApp, Truecaller, RCS) and chatbot messaging
APIs deployed across enterprises
10,000+
RCS messaging volume handled
2 Bn+ messages per month (via MaaP platform)

Guidance record · Q4 FY26

what the last two calls moved 9 tracked 2 delivered 2 missed 5 open
  • New ATP Deal Billing delivered said Q3 FY26 Promised: Start billing for a new ATP deal in India by February 2026. Q4 FY26: Management confirmed the third ATP deal with Bandhan Bank 'went live last month'.
  • Operating Margin missed said Q1 FY26 Promised: Operating margin or gross margin of 25% to 26%. Q4 FY26: EBITDA margin (a proxy for operating margin) stabilized at 16%, well below the 25-26% target range.
  • ValueFirst International Acquisition delayed said Q1 FY26 Promised: Acquire ValueFirst's global entities. Q4 FY26: Management stated the deal is 'stuck at a RBI level because there are some old matters' and they are exploring alternatives due to significant delays.

All 9 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 17.8%, net profit up 20.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,001 1,000 1,024 1,041 1,078 +8%1,121 +12%1,178 +15%1,226 +18%
EBITDA175 163 163 164 177 +1%191 +17%192 +18%201 +23%
Net profit130 119 117 118 125 −4%131 +10%134 +15%142 +20%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −27.8% 1Y

₹400₹500₹600₹700Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Oct 2025Q3 FY26 — 23 Jan 2026Q4 FY26 — 30 Apr 2026

1Y: ₹696.65 on 10 Sept 2025 → ₹502.8. High ₹753.7 (19 Sept 2025), low ₹377.45 (30 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
+2.9%
1 May
Q3 FY26
+7.3%
23 Jan
Q2 FY26
−5.6%
18 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 9.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 16.4%.

Year endingFY23FY24FY25FY26
Revenue₹3.4k Cr₹3.9k Cr₹4.0k Cr₹4.4k Cr
Operating profit₹588 Cr₹732 Cr₹690 Cr₹724 Cr
Operating margin17.5%18.6%17.1%16.4%
Interest₹0 Cr₹7 Cr₹6 Cr₹4 Cr
Depreciation₹46 Cr₹85 Cr₹98 Cr₹122 Cr
Net profit₹447 Cr₹548 Cr₹507 Cr₹508 Cr
Net margin13.3%13.9%12.6%11.5%
ROCE38.0%38.0%29.0%26.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹14 Cr₹14 Cr₹13 Cr₹13 Cr₹13 Cr₹13 Cr
Reserves₹880 Cr₹1.3k Cr₹1.5k Cr₹1.9k Cr₹2.2k Cr₹2.5k Cr
Borrowings₹4 Cr₹54 Cr₹83 Cr₹75 Cr₹58 Cr₹53 Cr
Other liabilities₹715 Cr₹987 Cr₹812 Cr₹992 Cr₹1.0k Cr₹1.2k Cr
Total liabilities₹1.6k Cr₹2.4k Cr₹2.4k Cr₹3.0k Cr₹3.4k Cr₹3.7k Cr
Fixed assets₹257 Cr₹305 Cr₹484 Cr₹700 Cr₹838 Cr₹761 Cr
Capital work in progress₹6 Cr₹54 Cr₹64 Cr₹104 Cr₹0 Cr₹50 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹32 Cr₹25 Cr
Other assets₹1.3k Cr₹2.0k Cr₹1.9k Cr₹2.2k Cr₹2.5k Cr₹2.9k Cr
Total assets₹1.6k Cr₹2.4k Cr₹2.4k Cr₹3.0k Cr₹3.4k Cr₹3.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters added +0.68 pp while the public trimmed −0.67 pp. The shareholder count shrank 14% to 2,64,765.

Promoters
46.2%
FIIs
7.6%
DIIs
0.4%
Public
45.4%
Others
0.5%

Since Jun 2025

  • Promoters +0.68 pp
  • Public −0.67 pp
  • DIIs −0.56 pp

How it drifted, 12 quarters

Over this window FIIs fell from 15.2% to 7.6% — −7.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 44.2%, FIIs 15.2%, DIIs 0.7%, Public 39.9%.Dec '23: Promoters 44.2%, FIIs 15.5%, DIIs 0.9%, Public 39.5%.Mar '24: Promoters 44.2%, FIIs 15.1%, DIIs 0.7%, Public 40.0%.Jun '24: Promoters 44.2%, FIIs 14.6%, DIIs 0.8%, Public 40.5%.Sep '24: Promoters 44.1%, FIIs 14.6%, DIIs 0.8%, Public 40.4%.Dec '24: Promoters 44.1%, FIIs 12.5%, DIIs 0.5%, Public 43.0%.Mar '25: Promoters 44.1%, FIIs 10.4%, DIIs 0.8%, Public 44.5%, Others 0.2%.Jun '25: Promoters 45.5%, FIIs 7.3%, DIIs 0.9%, Public 46.0%, Others 0.2%.Sep '25: Promoters 46.2%, FIIs 9.1%, DIIs 0.8%, Public 43.5%, Others 0.5%.Dec '25: Promoters 46.2%, FIIs 8.3%, DIIs 0.3%, Public 44.7%, Others 0.5%.Mar '26: Promoters 46.2%, FIIs 7.6%, DIIs 0.3%, Public 45.5%, Others 0.5%.Jun '26: Promoters 46.2%, FIIs 7.6%, DIIs 0.4%, Public 45.4%, Others 0.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Tanla Platforms Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Dasari Uday Kumar Reddy 23.45%unchanged
Tanuja Reddy Dasari 15.90%unchanged
Tna Corporation Llp 2.62%unchanged
Harsha Reddy Ponguleti 2.61%unchanged
Deepak Satyaprakash Goyal 1.76%unchanged
Ponguleti Madhuri 1.65%unchanged
Sharad Kohli 1.60%unchanged
Mobile Techsol Private Limited 1.57%unchanged
Kishore Krishna A 1.30%unchanged
Anmitha Ventures Llp 0.81%unchanged
M&Mholdings 0.58%unchanged
S R Holdings 0.29%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Fair

To justify its price of ₹503, this stock must grow earnings at 4% every year for 7 years. Our analysis caps realistic growth at ~5%. At that growth it is worth ₹541 — upside of 8%.

Growth the price implies
3.6% a year
for 7 years, fading to 4%
It has actually compounded at
4.4% a year
net profit, FY23–FY26 · EPS 5.0%
The gap
-0.0 pp
8% downside if it only repeats history
Price today ₹502.8 Value at the reference growth ₹540.82

Change the assumptions yourself →

All earnings calls (4)

Read the Q4 FY26 call →

Learn to analyse Tanla Platforms Limited

Guides on how to read this kind of business and the numbers that matter.