TAC Infosec Limited has released the transcript of its analyst and investor meeting held on May 20, 2026, to discuss the operational and financial performance for the financial year ended March 31, 2026. The company reported a significant increase in operating revenue and maintained stable profitability margins despite the conclusion of its tax holiday and a negative fair-value movement on its crypto treasury. The disclosures were shared pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

FY26 Financial Performance

The company achieved profitable scale during the year, with operating revenue growing 88% year-on-year to reach ₹57.26 Cr. This growth was driven by strategic expansion and platform leverage rather than a manpower-heavy services model. EBITDA for the period stood at ₹30.75 Cr, an increase of 81% compared to the previous year. The EBITDA margin remained stable at 53.8%, compared to 53.0% in FY25.

Profitability and Tax Normalization

Profit After Tax (PAT) rose by 78% to ₹26.35 Cr. The company highlighted that the PAT margin was maintained at 46.1% even after tax normalization, as the tax holiday ended and taxes were paid during FY26. This performance demonstrates operating-led profitability, according to the management. Other income for the year was reported as ₹(0.08) Cr, a negligible impact on total income, following a negative fair-value movement of approximately ₹1.52 Cr on its crypto treasury.

Operational Highlights and H2 Performance

TAC Infosec noted that it collected ₹45.64 Cr against FY26 invoicing, representing approximately 80% of operating revenue and indicating strong cash conversion. The company's global delivery support involved billing ₹14.57 Cr from its India entity to the U.S. entity. Management stated that the margin profile ranks among the strongest in the global cybersecurity industry based on available public benchmarks.

Addressing the second-half performance, management clarified that H2 revenue was ₹27.8 Cr, a 53% increase over the previous year's H2 of ₹18 Cr. H1 revenue was lifted by exceptional partner-led orders valued at approximately $1,000,000. Excluding this exceptional component, H1 underlying revenue was approximately ₹20.4 Cr, indicating a 36% underlying growth in H2. The firm continues to focus on its platform architecture, including ESOF, Socify.ai, and CyberScope, to drive future growth.

Strategic Developments and Guidance

Management emphasized the delivery of its 2025 promise to acquire a 10,000 customer base across TAC and CyberScope, expanding its footprint to over 100 countries. The company is progressing towards its 2030 Bold Vision of achieving $100 million ARR. Regarding the US listing of subsidiary CyberScope, the company received SEC approval in January but faced delays due to new regulations applicable from January 16. The company is now exploring a $15 million fundraise instead of the initially planned $5 million to align with new rules and maintain a 51% holding in the subsidiary. The management clarified that there is no impact of AI or geopolitical conflicts on its current operations, citing clients like Anthropic, Microsoft, and Google.

TAC Security announced that it has added leading AI and technology companies as clients for its ESOF AppSec Application Security Assessment. The new clients, onboarded in April, include Anthropic, Perplexity AI, Replit, Odoo, and Litera. This development highlights the reliance of advanced technology firms on independent, third-party application security validation despite the rise of AI-powered security capabilities.

Strategic Client Expansion

The addition of these companies to tac infosec 's portfolio reinforces the role of independent assessment in the cybersecurity market. As AI companies build complex software ecosystems, the demand for trusted security validation to ensure compliance and build trust has intensified. The company stated that even frontier AI companies require enterprise-grade application security assessment to secure applications at scale.

Operational Milestones

In March, the company surpassed 10,000 clients and emerged among the top 5 vulnerability management companies globally. TAC Security serves clients across 100 countries, specializing in vulnerability management and application security.

Key Client Additions

About TAC Security

TAC Security is a global cybersecurity company specializing in vulnerability management. Its flagship product, ESOF (Enterprise Security in One Framework), focuses on cyber scoring, risk quantification, and AI-driven vulnerability assessment. The company holds accreditations such as CREST and ISO 27001 and partners with major technology firms for Cloud Application Security Assessment.