TAC Infosec Shares Hit Upper Circuit To Record New All-Time High

Shares of TAC Infosec surged as much as 5% to hit its upper circuit of INR 915.25 during intraday trade on the NSE today. This also marks the fresh all-time-high and 52-week high mark for the stock.

The upper circuit breach coincides with the company becoming an ioXt Authorized Lab, which henceforth allows the company to conduct IoT Security Assessments under the ioXt Certification Program. 

For the day, the stock opened at its upper circuit at INR 915.25 against its previous close of INR 871.70. 

The company’s market capitalisation was INR 959.15 Cr for the day. Not to mention, TAC Security is a small-cap SME stock. 

It is pertinent to note that the above-allotted certification today, ensures that connected devices adhere to high standards of security, transparency, and upgradability.

With this, TAC Security joins a coveted group of only eight companies worldwide authorised to conduct these assessments. 

As a result of this certification, the company intends to roll out the services in February 2025 where it will foray into the IoT (Internet of Things) security market offering IoT security assessments through its ESOF platforms. 

In an exchange filing on NSE, TAC Security said, “It will incorporate IoT Security Assessments into its ESOF Vulnerability Management Portfolio, offering organisations a comprehensive platform to manage IT seamlessly (Information Technology), OT (Operation Technology), and IoT risks.”

TAC Security’s CTO Saransh Rawat said, “ “IoT devices are a cornerstone of our digital future, yet they remain highly vulnerable to cyber threats. Being approved as an ioXt Authorized Lab empowers us to ensure manufacturers and enterprises meet global security benchmarks.”

TAC Security made its debut on NSE on April 5 at INR 290. Since then, the shares have experienced an exorbitant surge of 215.6%.

Founded in 2016 by Arora, TAC Infosec offers risk-based vulnerability management and assessment solutions, and other SaaS cybersecurity solutions to enterprises and small businesses. 

The company has also made some acquisition shopping lately. In August,  TAC Infosec signed a share purchase agreement for acquiring US-based cybersecurity firm Cyber Sandia for $25,000 (about INR 20.95 Lakh) to bolster its presence in the US public sector market.

The company has also been making strides in terms of gaining new customers.

In August, the startup claimed that it added 250 new customers in the month of July 2024. Out of this, 149 new customers were from the US. It was followed by the Indian market, from which it added 20 new clients. In Q1 FY25, TAC Infosec claimed to have bagged 590 new clients. 

On the financial front, its ts profit zoomed 240% to INR 6.52 Cr in H1 FY25 from INR 1.92 Cr in the year-ago period on the back of a rise in revenue and improvement in margins. TAC Infosec had posted a net profit of INR 4.4 Cr in H2 FY24.

The startup saw its consolidated operating revenue zoom 162.4% to INR 13.15 Cr during the period under review from INR 5.01 Cr in H1 FY24.