Buy Tanla Platforms, target price Rs 848: Geojit

Geojit has buy call on Tanla Platforms with a target price of Rs 848. The current market price of Tanla Platforms is Rs 694.2. Time period given by analyst is 12 months when Tanla Platforms price can reach defined target.

Tanla Platforms, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 9352.92 Crore) operating in IT Software sector.

Tanla Platforms key Products/Revenue Segments include Software Services for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 838.32 Crore, down -4.27 % from last quarter Total Income of Rs 875.69 Crore and down -2.25 % from last year same quarter Total Income of Rs 857.64 Crore. Company has reported net profit after tax of Rs 120.28 Crore in latest quarter.

The company’s top management includes Mr.D Uday Kumar Reddy, Mr.Deepak Satyaprakash Goyal, Dr.A G Ravindranath Reddy, Mr.Sanjay Kapoor, Ms.Amrita Gangotra, Mr.Rohit Bhasin, Mr.Sanjay Baweja, Mr.Rahul Khanna. Company has MSKA & Associates as its auditors. As on 31-03-2023, the company has a total of 13 Crore shares outstanding.

Investment Rationale
The brokerage expects improved revenue visibility in FY24 due to growth in UPI, e-commerce transactions, an increase in realisation of revenue from new & existing customers and price hikes. The increasing acceptance of the Wisely platform is expected to drive revenue and margin growth.

Promoter/FII Holdings
Promoters held 44.17 per cent stake in the company as of 31-Mar-2023, while FIIs owned 14.23 per cent, DIIs 0.07 per cent.