TAC Infosec Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

TAC Infosec Ltd trades at ₹467, in a downtrend and 28 weeks into that stage. That is −5.8% against its own 200-day average. It sits at 22% of a 52-week range of ₹355 to ₹855. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 9 straight weeks.

Today the stock is in a downtrend — week 28 of stage 4, confirmed. At ₹467 it trades −5.8% versus its 200-day average and sits at 22% of its 52-week range (₹355–₹855).

Against the market, two honest reads. Cumulative: over the last 2.4 years the stock moved +207% while the NIFTY 500 moved +9% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 9 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

TAC Infosec Ltd trades at 35.7× P/E, near the bottom of its own range — cheaper only 5% of the time. Its long-run median P/E is 72.2×, measured across 2.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 35.7× is near the bottom of its own range — cheaper only 5% of the time, against a long-run median of 72.2× measured over 2.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +56.0% against a −16.1% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

TAC Infosec Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 5 quarters across 0 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

63.0/100 — rank 9 of 64 in IT - Software · 66% evidence confidence

TAC Infosec Ltd scores 63.0 out of 100 against the 64 companies it is compared with in IT - Software, ranking 9. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 25.6 + 20.9 + 9.5 + 7 = 63. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

TAC Infosec Ltd reported ₹19.8 Cr of revenue in the Jun 26 quarter, +102.7% year on year. Over 2 years it has compounded at 117.9% a year. The last full year, FY26, came in at ₹57.0 Cr. The last four reported quarters add to ₹74.1 Cr.

FY26 revenue came in at ₹57.0 Cr (+90.0% on the year), capping 2 years at 117.9% compound. The latest quarter (Jun 26) printed ₹19.8 Cr, +102.7% year on year.

Pace check: the last four quarters averaged +76.9% growth against the decade's 117.9% — the current year is running slower than its own long-run rate.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

TAC Infosec Ltd's operating margin is 48.2% in the Jun 26 quarter, +1.6 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved −2.8 percentage points. Across 3 fiscal years the operating margin has ranged 50.0% to 57.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is 48.2%, +1.6 pp against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 50.0%–57.0%.

🚨 Why the margin moved: operating margin went −2.5 pp year on year while gross margin went +0.0 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

TAC Infosec Ltd earned ₹8.1 Cr of net profit in the Jun 26 quarter, +136.8% year on year. Full-year FY26 profit was ₹26.0 Cr. The 2-year compound rate is 108.2%. That is 40.7% of the quarter's revenue. The same quarter a year earlier earned ₹8.0 Cr.

Jun 26 profit was ₹8.1 Cr, +136.8% year on year. On the full year, FY26 printed ₹26.0 Cr (+73.3%), and the 2-year compound rate is 108.2%.

Why profit moved: revenue contributed +102.7% and the margin +1.6 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +80.2% vs revenue +76.9%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 62% of TAC Infosec Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹12.0 Cr of operating cash against ₹26.0 Cr of profit. After ₹10.0 Cr of capital spending, ₹2.0 Cr was left as free cash.

FY26: operating cash of ₹12.0 Cr against reported profit of ₹26.0 Cr, leaving free cash of ₹2.0 Cr after ₹10.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 62% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at 62%: the cash cycle tightened 211 days between FY24 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 6.8× depreciation over three years, so the next section's job is to check what that build-out is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

TAC Infosec Ltd's cash conversion cycle runs 145 days in FY26, down from 356 days in FY24. Capital spending ran ₹27.0 Cr over the last 2 years. At FY26 sales of ₹57.0 Cr each day of that cycle holds about ₹0.2 Cr, so roughly ₹23.0 Cr sits inside the business at any moment.

FY26: debtors at 145 days (an asset-light business — no inventory to speak of) — for a full cycle of 145 days, tighter than FY24's 356.

In money terms: at FY26 sales of ₹57.0 Cr, each day of the cycle holds about ₹0.2 Cr — so the 145-day loop keeps roughly ₹23.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹27.0 Cr over the last 2 fiscal years against ₹4.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

TAC Infosec Ltd earns a ROCE of 38% in FY26. Return on invested capital clears the cost of that capital by +35.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 45.6% net margin on 0.59× asset turns.

FY26 ROCE is 38%.

Why the return is what it is — the wiring (FY26): 45.6% net margin × 0.59× asset turns × 1.16× balance-sheet leverage ≈ 31.2% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 47.3% − 12.0% = a +35.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

TAC Infosec Ltd carries total debt of ₹1.0 Cr against shareholder equity of ₹89.0 Cr as of Mar 26, a debt-to-equity of 0.01 — effectively unlevered. On the annual view that ratio went from 0.14 in FY24 to 0.01 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹1.0 Cr against shareholder equity of ₹89.0 Cr — a debt-to-equity of 0.01. On the annual view, debt-to-equity went from 0.14 (FY24) to 0.01 (FY26). The returns on this page are earned, not borrowed.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions cut 9.8 points of TAC Infosec Ltd over 5 quarters, the biggest move on the register. That takes foreign institutions to 0.0% of the company. Domestic institutions moved −2.2 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −9.8 points over 5 quarters to 0.0%; Domestic institutions: −2.2 points over 5 quarters to 0.0%; Promoters: −0.3 points over 5 quarters to 56.7%.

🚨 Why the register moved: foreign institutions drove it (−9.8 points), alongside domestic institutions (−2.2 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

TAC Infosec Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Frequently asked questions