Slide 1: Exchange cover letter: Investor Presentation under Regulation 30
Date: 20th May, 2026 To, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra (E), Mumbai - 400051. Dear Sir/Ma’am, Subject – Investor Presentation under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20
Slide 2: FY26 Results: Profitable Scale In Global Cybersecurity
TAC InfoSec Limited FY26 Results Financial Results Presentation FY 2025-26 Profitable Scale In Global Cybersecurity For The Year Ended March 31, 2026 FY26 Results Presentation| 14 May, 2026 TAC | FY2025-26 Financial Results Presentation
Slide 3: Forward-Looking Statement
Forward-Looking Statement This presentation contains forward-looking statements that may be identified by words such as “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates,” or similar expressions. These statements include, but are not limited to, statements rela
Slide 4: Growth is Real. Margins are Stable. PAT is Tax-Normalized.
THE FY26 MESSAGE Growth is Real. Margins are Stable. PAT is Tax- Normalized. The FY26 Result Directly Addresses The Leadership. TAC Did Not Trade Profitability For Growth. +88%^ 53.8%^ 46.1%^ Operating Revenue Growth EBITDA PAT INR 57.26 Cr in FY26^ Stable vs 53.0% in FY25^ Maintained After Tax Norm
Slide 5: A Year of Profitable Scale
FY26 at A Glance INR Cr Unless Stated A Year of Profitable Scale Revenue Grew 88% while EBITDA and PAT Margins Remained Virtually Unchanged. INR 57.26 Cr^ INR 30.75 Cr^ INR 26.35 Cr^ Operating Revenue EBITDA PAT +88% YoY^ +81% YoY^ +78% YoY 53.8% 46.1% INR (0.08) Cr EBITDA PAT Other Income FY25: 53.
Slide 6: TAC Scaled Revenue and Profit Together
Revenue to Profit Scale-up FY25 vs FY26 | INR Cr TAC Scaled Revenue and Profit Together FY26 Growth Came with Operating Leverage - Not Margin Dilution. 60 57.3 What this Proves 50 • Operating Revenue Up 88%^ 40 30.5 30.7 • EBITDA up 81%^ 30 26.3 20 17.0 • PAT up 78%^ 14.8 10 Growth Converted Into Pr
Slide 7: Margins Held Even After Tax Normalization
Margins Held Even After Tax Normalization FY25 Vs FY26 | Margin On Total Income (%) The Most Important Fact PAT Margin Was Maintained Despite Growth The End Of The Tax Holiday And Actual Tax Payment During FY26. 60 53.0% 53.8% EBITDA Margin 50 46.0% 46.1% 53.8%^ +0.3 Pp Vs FY25 (Maintained) 40 30 PA
Slide 8: FY26 Profit Was Driven By Core Operations
Other Income FY26 Profit Was Driven By Core Operations Other Income Was ₹1.45 Cr Before Crypto Treasury Fair-Value Impact; Reported Net Other Income Was ₹(0.08) Cr In FY26. 6 FACTS: 5 1. Core Business Generated Almost All FY26 Income. 4 2. Profitability Did Not Rely On Treasury Or Non- operating Gai
Slide 9: FY26 Vs FY25 Financial Snapshot
FY26 Vs FY25 Financial Snapshot FY25 Vs FY26 | INR Cr Comparable Summary Slide The Reported FY26 Outcome vs FY25 FY25 FY26 Growth Total Revenue 30.50 57.26 88%^ Total Expense 16.41 29.35 79% EBITDA 17.03 30.75 81%^ PAT 14.83 26.35 78%^ EBITDA Margin 53.3% 53.8% Maintained PAT Margin 46.0% 46.1% Main
Slide 10: Promised goals in 2025, delivered in 2026
PROMISE VS DELIVERY Promised goals in 2025, delivered in 2026 The Bridge From 2025 Promises To 2026 Delivery Is Now Visible In Customer Scale, Profitability, Platform Expansion And Global Credibility. 2025 Promise 2026 Delivery 2030 Bold Vision Reach 10,000+ Clients And Build Distribution At Deliver
Slide 11: Revenue Normalized. Profitability Outperformed.
FY26 Revenue Normalized. Profitability Outperformed. A fact-based explanation of H1 partner-led revenue, H2 Web3 softness, CyberScope investment, Q4 recovery, and EBITDA delivery. FY26 Total Income FY26 EBITDA FY26 PAT H2 YoY Growth (Op Rev) 57.19 30.75 26.35 ~53% Reported total income 53.8% EBITDA
Slide 12: Facts in One Page
Facts in One Page TAC InfoSec Limited | FY26 Investor Meet What changed in revenue mix, and what did not change in profitability. 01 02 03 H1 Had Exceptional Partner-led H2 Normalized, But Underlying EBITDA Protected The Promise Uplift Base Grew H2 FY26 delivered approx. ₹27.8 Cr. Against Even if re
Slide 13: H2 FY25 vs H2 FY26: Growth Remained Strong
H2 FY25 vs H2 FY26: Growth Remained Strong TAC InfoSec Limited | FY26 Investor Meet H2 Operating Revenue Growth ₹27.8 Cr ~53% H2 FY26 revenue grew from ₹18.1 Cr to ₹27.8 Cr ₹18.1 Cr despite a weaker Web3 / crypto market environment. H2 FY25 H2 FY26 TAC | FY2025-26 Financial Results Presentation
Slide 14: H1 Was Elevated by Partner-Led Orders; H2 Shows the Underlying Engine
H1 Was Elevated by Partner-Led Orders; H2 Shows the Underlying Engine TAC InfoSec Limited | FY26 Investor Meet The reported revenue curve needs to be read with the one-time H1 partner uplift separated. H1 FY26 Operating Revenue Mix H2 FY26 Underlying Growth H1 FY26 Reported Normalized H1 20.4 29.5 I
Slide 15: CyberScope: Strategic Demand, Temporary Market Shock
CyberScope: Strategic Demand, Temporary Market Shock TAC InfoSec Limited | FY26 Investor Meet Partnership opportunity remained strong, while H2 Web3 deal conversion was affected by crypto-cycle softness. H1 Demand Drivers H2 Market Pressure • CyberScope partnership revenue added due to forthcoming e
Slide 16: CyberScope Still Grew Approximately 50% YoY
CyberScope Still Grew Approximately 50% YoY TAC InfoSec Limited | FY26 Investor Meet Even during a weak crypto cycle, the acquisition validated demand for Web3 security. CyberScope Revenue Growth Exact ₹ Cr figures to be inserted once final CyberScope revenue split is confirmed. ₹13.64 Cr +50% YoY ₹
Slide 17: Acquisition Build-Out: Cost Today, Enterprise Scale Tomorrow
Acquisition Build-Out: Cost Today, Enterprise Scale Tomorrow TAC InfoSec Limited | FY26 Investor Meet CyberScope team expansion increases near-term cost but positions the business for enterprise Web3 growth. Team Expansion Capability Built Smart Contract Audits Blockchain Security 8 28 Exchange Secu
Slide 18: Expectation vs Reported Revenue: The Gap Was Mix and Market
Expectation vs Reported Revenue: The TAC InfoSec Limited | FY26 Investor Meet Gap Was Mix and Market, Not Capability If H2 had grown at the same rate as H1, the revenue expectation would have been materially higher. Modeled H2 Scenario H2 FY25 Base Assumed H1-like Growth Expected H2 FY26 Reported H2
Slide 19: EBITDA Delivery Outperformed the Benchmark
The Most Important Message: EBITDA Delivery Outperformed the Benchmark Profitability remained ahead of the implied 40% EBITDA benchmark under the modeled revenue scenario as per 2020 Vision. Modeled Scenario H1 Actual + Expected H2 40% EBITDA Benchmark as per 2030 Vision Reported FY26 EBITDA ₹71.1 C
Slide 20: Note to Investors
Note to Investors TAC InfoSec Limited | FY26 Investor Narrative For shareholder communication, analyst interaction FY26 should not be read as a revenue miss. It should be read as a year where TAC protected profitability, absorbed strategic acquisition costs, expanded CyberScope’s team, faced tempora
Slide 21: Q4 Was a Statement Quarter — Stronger, Sharper
Q4 Was a Statement Quarter — Stronger, Sharper TAC InfoSec Limited | FY26 Investor Narrative After Q3 softness, Q4 demonstrated TAC’s ability to rebound with scale and margin. Client Jan Client Feb Client March Jan 600 Feb 630 Mar 650 Q4 was not just a recovery quarter. It was a statement quarter: r
Slide 22: Among The Highest Profitability Cohorts In Global Cybersecurity
Global Context Among The Highest Profitability Cohorts In Global Cybersecurity TAC InfoSec FY26 53.8 Global Leadership Qualys FY25 Adj. EBITDA 47.0 TAC Infosec Emerges Among The World's Most Profitable Cybersecurity Companies, With Check Point Q4 FY25 Non-GAAP Op. 41.0 88% Revenue Growth And 53.8% E
Slide 23: The Business Model Explains The Numbers
Why The Margin Profile Is Structural Automation-led Cybersecurity Platform Economics The Business Model Explains The Numbers TAC Benchmarked As A Scalable Platform And Automation-led Assessment Engine, Not As A Manpower-heavy IT Services Company. AI-led Standardized Incremental Global Channel High-m
Slide 24: The Result Is Strong. The Remaining Risk Is Explanation Quality.
TAC FY25-26 Financial Results Presentation The Result Is Strong. The Remaining Risk Is Explanation Quality. Facts Cash Conversion Subsidiary Contribution Collected ₹45.64 Cr Against FY26 Invoicing, TAC InfoSec Limited (INDIA) Billed ₹14.57 Cr To The U.S. Entity For Active Global Delivery Representin
Slide 25: Led by EBITDA. PAT As Proof Of Earnings Quality.
Global Industry Led by EBITDA. PAT As Proof Of Earnings Quality. Why TAC? TAC Infosec Emerges Among The World's Most Profitable Cybersecurity Companies With 88%^ Revenue Growth And 53.8%^ EBITDA Margin In FY26 PAT Rose 78%^ To INR 26.35 Cr^, With PAT Margin Maintained At FY26 Validates Profitable Sc
Slide 26: FY26 Is The Financial Proof Point For The 2030 Vision
FY26 Results | 2030 Bridge FY26 To 2030 FY26 Is The Financial Proof Point For The 2030 Vision The Year Did More Than Deliver Profitable Growth. It Validated TAC’s Platform Economics, Created Distribution Leverage, And Set Up The Next Phase Of ARR Expansion. Profitable Scale Proved Distribution Base
Slide 27: How TAC Intends To Become A Multi-engine Cybersecurity Platform
FY26 Results | 2030 Bridge 2030 PLATFORM ARCHITECTURE How TAC Intends To Become A Multi-engine Cybersecurity Platform The 2030 Model Depends On One Distribution Layer Monetized Through Multiple Category Engines, Each With A Distinct Role In Customer Expansion And Long-term ARR. ESOF Core Vulnerabili
Slide 28: From 10,000 Clients To $100M ARR (2030)
FY26 Results | 2030 Bridge MONETIZATION LOGIC From 10,000 Clients To $100M ARR (2030) The Market Already Sees Customer Scale. The Next Question Is Monetization Quality — How TAC Expands Revenue Per Client Through Renewals, Upgrades And Multi-product Cross-sell. 10,000+ Client Base Existing Customer
Slide 29: Institutionalizing Retention, Upsell And Cross-sell
FY26 Results | 2030 Bridge CUSTOMER SUCCESS AS ARR ENGINE Institutionalizing Retention, Upsell And Cross-sell As TAC Scales, Customer Success Becomes A Monetization Function: Protecting Renewals, Expanding Accounts, Improving Recovery, and Converting Client Scale Into Recurring Revenue Depth. Custom
Slide 30: Sources And Important Notes
Sources And Important Notes Company Data FY26 TAC Infosec Numbers Are Based On Final Results For The Year Ended March 31, 2026. Public Benchmark Sources Fortinet FY25 Results Revenue Grew 14%; GAAP Operating Margin 31%; Non-gaap Operating Margin 35%. Fortinet.Com/Corporate/About-us/Newsroom/Press-re
Slide 31: FY26 Validates Profitable Scale
FY26 Closing Message FY26 Validates Profitable Scale TAC Delivered High Growth, Stable EBITDA, Tax-normalized PAT And Operating-led Earnings Quality. +88%^ 53.8%^ 46.1%^ Operating Revenue Growth EBITDA Margin PAT Margin INR 57.26 Cr^ Global Operating Profitability Maintained After Tax Normalization
Slide 32: Thank you!
Thank you! TAC | FY2025-26 Financial Results Presentation