Tanla Platforms - Gearing Up For Growth: HDFC Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Institutional Equities.Tanla Platforms Ltd. in the Mobile World Congress held in February 2024 launched several products and platforms, which will set the path for the next phase of growth. Tanla is a market leader in the domestic messaging space with a 45% market share and it is now focusing on scaling revenue from WhatsApp, RCS and Truecaller. The partnerships with Meta (WhatsApp) and the launch of the MaaP platform for higher adoption of Google RBM (RCS business messaging) are promising. .The adoption of conversation commerce by large enterprises is driving WhatsApp growth (OTT is ~13% of revenue and up seven times YoY in Q3).The enterprise segment growth will be driven by-continued growth in transactional SMS traffic, led by UPI and digital transactions,stable ILD, anda surge in OTT revenue (WhatsApp, RCS and TC)..The growth in the platform segment will be powered by Wisely platforms and the launch of the next-generation DLT platform Trubloq.ai. The Wisely anti-phishing platform is a promising product with high growth potential. The company will maintain the margin profile, the integration of the low-margin VF Middle East business will be done in Q1, and we expect the Ebitda margin to be in the 19- 20% range. The full impact of the VI network deal exit will be reflected in Q1 FY25E. We expect revenue/earnings per share compound annual growth rate of 19/20% over FY24-26E. We reduce our EPS estimate by ~3% for FY25/26E to factor in near-term weakness. We maintain our Buy ratings and assign a target price of Rs 1,300 based on 23 times FY26E EPS. The stock trades at a price/earnings of 20/16 times FY25/26E and generates return on equity of ~30%..Click on the attachment to read the full report:.Tesla In India? Elon Musk Said To Unveil $2-3 Billion Plan During Visit: Report.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Tanla Platforms - Gearing Up For Growth: HDFC Securities

WhatsApp and RCS, the growth drivers for the enterprise segment

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