The inclusion of Dr. Sharma, former Chairman of the Telecom Regulatory Authority of India (TRAI) and ex-CEO of National Health Authority (NHA) brings the total number of directors on Tanla's board to seven.
Dr. Sharma, a 1978-batch IAS officer of the Jharkhand cadre, has a career in government service that spans nearly five decades, with significant contributions to India's digital transformation.
Dr. RS Sharma: Architect of Aadhaar and India Stack
He played a pivotal role in the Digital India programme, the rollout of Aadhaar, and the push for India Stack, which forms the backbone of India's widely discussed Digital Public Infrastructure.
During his tenure at TRAI from 2015 to 2020, he was instrumental in implementing policies that promoted net neutrality and consumer rights, playing a key role in reducing mobile voice and data tariffs. This aligned with the broader objectives of the Digital India initiative and financial inclusion.
In his capacity as Chairman of the Empowered Group on Vaccine Administration for COVID-19 (EGVAC), Dr. Sharma oversaw the development and rollout of Co-Win, the digital platform central to the country's vaccination drive.
His tenure as CEO of the National Health Authority (NHA) was marked by his leadership in implementing major health initiatives such as Ayushman Bharat Jan Arogya Yojana (AB PM-JAY) and Ayushman Bharat Digital Mission (ABDM).
Dr. Sharma was also the first Director General of the Unique Identification Authority of India (UIDAI), where he led the Aadhaar program, a pivotal identity initiative in India.
Dr. Sharma's academic credentials include a PhD in Management and Public Policy from the Indian Institute of Technology, New Delhi, a Masters in Computer Sciences from the University of California, USA, and a Masters in Mathematics from the Indian Institute of Technology, Kanpur, in addition to an LLB degree.
Tanla Platforms said that Dr. Sharma's extensive experience and leadership in digital transformation will provide significant insights and contribute to the company's global success and ongoing innovation in the CPaaS sector.
Tanla Platforms Limited Revenue & Growth Projection
The company reported a revenue of ₹3,354.55 crores for the financial year 2023. This represents a growth of 4.6% compared to the previous year's revenue of ₹3,205.97 crores. The increase in revenue is linked to several factors, including an expanded customer base, changes in ILD pricing, growth across various communication channels including WhatsApp, and the introduction of new revenue streams such as Trubloq.
However, the company's net profit witnessed a decline of 17% from the previous year, dropping from ₹539.28 crores in FY22 to ₹447.65 crores in FY23. The decline in net profit was primarily due to a reduction in gross profit, along with an increase in operating costs and higher depreciation and amortisation expenses.
In terms of profitability, Tanla Platforms experienced a decrease in its operating profit margin (OPM) by 4.3% and a net profit margin (NPM) decrease of 3.48% from FY22 to FY23. Despite these declines, the company's profit margins still surpass the five-year average of 15.45% for OPM and 7.52% for NPM.
Looking at the return ratios, the company saw a decrease in both Return on Capital Employed (RoCE) and Return on Equity (RoE). RoCE declined from 60.27% in FY22 to 39.71% in FY23, and RoE fell from 48.23% to 31.56% over the same period. These decreases are largely attributed to the 17% drop in net profits for FY23 compared to the previous year.
Tanla Platforms has been a debt-free company since March 31, 2020, maintaining a debt-to-equity ratio of zero over the last four financial years.
Company is focusing on expanding its international presence in both the Enterprise Communications and Digital Platforms sectors. Following the acquisition of ValueFirst, the company is eyeing opportunities for expansion in the Southeast Asia region, aiming to enter the international CPaaS market, which is estimated to be valued at over ₹200 billion.
Additionally, the company has set ambitious environmental goals, including achieving Net Carbon Neutrality by 2025 and securing ISO 14001 certification for all its office locations and data centers by the same year.