BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Overall, Tanla Platform Ltd. reported an in-line performance on both revenue and margin front. The fourth quarter generally has weak seasonality compared to third quarter on account of several promotional campaigns in December quarter, driving up application to person messaging.
Tanla's Wisely platform coming live is a positive development and would drive revenue growth for platform segment in FY23. It remains a leader in communications platform-as-a-service space in India, growing faster than the industry.
The adoption of CPaaS based application to person messaging across industries continues to drive volume growth for both enterprise and platform segments.
We expect Ebitda margin to improve going ahead led by platform segment(higher gross margin) growing faster than enterprise segment.
We estimate revenue compound annual growth rate of 26.0% over FY22‐FY24E with average Ebit margin of 21.4%.
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