OTT channel share of revenue
31-32%
Stable QoQ
OTT revenue share remained flat over the last four quarters, indicating stabilization.
TANLAPLATFORMS
Other
15 May 2026
Tanla Platforms Limited — Q4 FY26
Tanla reported a steady quarter with enterprise business returning to growth, driven by OTT channels like WhatsApp and RCS.
✓ Verified against BSE filing
2-Min Summary
Tanla reported a steady quarter with enterprise business returning to growth, driven by OTT channels like WhatsApp and RCS. The digital platform segment grew modestly at single digits, but management highlighted strong traction in AI-based platforms (Wisely ATP, Vi.ai) with new client wins including Bandhan Bank and a large global telco. EBITDA margins remained rangebound around 16% due to conscious investments in GTM and innovation. The company guided for revenue growth exceeding 10% annually, driven by market share gains and international expansion. The ValueFirst acquisition remains delayed due to regulatory hurdles, but management expects closure this quarter. A key risk is pricing pressure in SMS and OTT channels, which could compress margins further.
Key Numbers
Digital platform revenue
₹395 Cr
Single-digit growth YoY
Digital platform segment grew modestly despite heavy investments in Vi.ai.
New logos revenue contribution
₹200 Cr
23% from WhatsApp/RCS
New logos contributed ₹200 Cr in revenue, with 23% onboarded via WhatsApp/RCS.
ValueFirst annual revenue
₹150-170 Cr
Gross margin improved to 20-22%
ValueFirst's topline is ₹150-170 Cr with gross margins doubled to ~22%.
Management Guidance
Revenue growth >10% annually
Management expects revenue growth to exceed 10% per annum, driven by market share gains and international expansion.
revenueValueFirst acquisition closure this quarter
Management committed to closing the ValueFirst acquisition in the current quarter, with topline of ₹150-170 Cr and gross margins of 20-22%.
otherEBITDA margins to hold or improve
Management expects EBITDA margins to at least hold at current levels, with potential improvement as GTM investments bear fruit.
marginsCapex to remain at ₹100-150 Cr per annum
Capex trajectory is expected to continue at ₹100-150 Cr annually.
capexKey Risks
Regulatory delay in ValueFirst acquisition
The acquisition is stuck at RBI level due to documentation and clarifications, causing significant delays.
high · analyst_questionPricing pressure in SMS and OTT channels
SMS pricing is declining due to competition, and OTT blended realizations are under pressure from mix shift to utility messages.
medium · management_commentaryRegulatory risk from UPI SMS notification changes
Potential RBI move to reduce SMS notifications for UPI transactions could impact volumes, though management says it's a single-digit percentage of business.
low · analyst_questionSlow conversion of platform deals to revenue
Despite strong platform investments, revenue growth in digital platforms has been modest, indicating timing issues in deal conversion.
medium · data_observationNotable Quotes
We always believe in build versus buy, and all these AI companies' expectations are skyrocketing, so we need to be real mindful.
We are an AI-native company. Tanla is doing a lot of innovations and our platforms are built using AI.
We will close the ValueFirst international this quarter.