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Geojit Research Report
Tanla Platforms is the largest communication platform as a service player in India, with a market share of ~40% and handling 800 billion interactions annually.
The CPaaS industry is expected to grow at a compound annual growth rate of 30% in FY20-2025E due to higher government regulation on messages and rise in mobile customer base.
Tanla has a healthy balance sheet with an accumulated net cash of Rs 808 crore in FY22 and a debt-to-equity ratio of 0.03 times as of FY23E .
The drop in revenue witnessed in H1 FY23 is likely to normalise in the coming quarters on the improvement in volumes from new clients on rising transactions from Wisely (new CPaaS platform) along with an increase in realisation from existing customers and measures to improve margins by minimising currency volatility.
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