Top Cybersecurity Stocks In India – List, Information, And More

Top Cybersecurity Stocks In India: In India as well as globally, the threat of cybercrime looms at large. As per the Indian Computer Emergency Response Team (CERT-In), a total of 14 Lakh cybersecurity incidents were reported in 2022. The Reserve Bank of India reported that the number of cyber crimes in the banking sector alone rose from 28 in 2019 to 57 in 2021.

With this alarming concern, there are a few Indian Companies that are building robust systems to protect customers against cyber-attacks and other cyber crimes. Let us learn what are they building and what purpose they serve. We will also take a brief look at their financials as we go through this list.

Cybersecurity Stocks in India #1 – Expleo Solutions

Expleo Solutions is a global engineering, technology, and consulting service provider. It partners with leading organizations guiding them toward the digital transformation of their enterprise. Currently headquartered in Chennai, the Company owns subsidiaries in the USA, UK, UAE and Singapore.

Expleo Solutions also has branches in the Philippines and Belgium along with Global delivery centers in Mumbai & Coimbatore. Expleo Solutions has a successful track record of operating for more than 30 years in India, APAC, USA, UK, Europe, and the Middle East. It currently serves Banking & Financial Services and Insurance clients across technology and digital transformation programs.

In May of 2022, Expleo announced the acquisition of Lucid Technologies & Solutions (Lucid), a specialist in data governance, data privacy and protection, and augmented analytics. The takeover gave Expleo access to all of Lucid’s intellectual property (IP), business contracts, and staff, comprising a talented team of 50 data specialists located in India and the USA. 

Lucid has a client portfolio consisting of Fortune 500 companies and unicorns across various industries, including BFSI, Healthcare, Retail, and Manufacturing. The acquisition will strengthen Expleo’s capabilities in Data Governance, security & consulting capabilities complementing its overall Data Management practice.

Expleo reported revenue from operations of Rs. 903 Cr in FY23, which increased by 22% from Rs. 743 Cr in FY22. Net Profits increased from Rs. 68 Cr in FY22 to Rs. 134 Cr in FY23.

Cybersecurity Stocks in India #2 – Quick Heal Technologies

Quick Heal Technologies is a leading IT security solutions provider that was established in 1995. Initially called CAT Computer Services Pvt Ltd, it was renamed to Quick Heal Technologies in 2007. The Company launched India’s first version of the DOS Antivirus program which performed computer maintenance & repair services and started Anti-Virus Software development.

 In 1998 the company launched its first version for the Windows application. In 2012 it incorporated its subsidiary in Kenya & Japan. With over 27 years of experience in the Indian market, Quick Heal has a Pan-India presence with over 30% market leadership in its consumer business. The Company supplies over 76 countries and 22 key destinations across the globe.

Quick Heal’s business can be divided into three segments, Home & Small Office, Small & Mid-Sized Business, and Enterprise & Government network. The application will run across laptops, desktops, Notepads, Mobile, Smart Devices, servers, clouds, and Networks.

The Company reported a drop in revenue of 19%, from Rs. 342 Cr in FY22 to Rs. 278 Cr in FY23. Meanwhile, higher employee expenses and other expenses led to a steep fall in Net Profits from Rs. 83 Cr in FY22 to Rs. 6 Cr in FY23.

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Cybersecurity Stocks in India #3 – Sasken Technologies

Sasken Technologies is a product Engineering and Digital Transformation Company delivering concept-to-market and chip-to-cognition R&D solutions to customers across the semiconductor, automotive, industrial, consumer electronics, enterprise devices, satellite communications, telecom, and transportation domains. 

Through the last three decades, Sasken’s deep engineering capabilities and technology patents have helped transform over a hundred Fortune 500 clients and powered more than a billion digital devices from its state-of-the-art facilities in India, Finland, Germany, and Japan. 

Sasken has always been at the forefront of technology in the cellular modem, radio access network, and satellite domains, more recently delivering state-of-the-art solutions to its automotive Tier 1 and OEM customers in the IVI, Body Electronics, Instrument Cluster, ADAS, and Autonomous vehicles, V2X, and Telematics domains.

They also specialize in cybersecurity services such as network security and data protection. Its main selling point is its security management services for consumer electronics, especially Android smartphones.  With more than 90 brands of consumer devices and corporate equipment, they seek to address more than 6,000 discovered vulnerabilities and exposures.

 Sasken’s revenue saw a slow growth of just 3% from Rs. 434 Cr in FY22 to Rs. 447 Cr in FY23. Net Profit dropped by 22% from Rs. 128 Cr in FY22 to Rs. 99 Cr in FY23.

Cybersecurity Stocks in India – A Bonus

Ace Investor Vijay Kedia backed TAC Infosec IPO subscribed by over 86 times on the final day of its issue. The Company issued its shares in the NSE’s Small & Medium Enterprise space on the 27th of March 2024.

TAC Infosec provides risk-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing services. All these services are provided via Software as a Service Model, or in simple terms delivered over the internet. 

Vulnerability Management & assessment solutions are those tools that find weaknesses in the systems that might be prone to outside hackers and fix them. Cybersecurity quantification is evaluating risks that can be measured & compared in numbers. Then actions are taken based on the data to protect the systems from being infiltrated.

TAC Infosec also provides penetration testing services that simulate a cyber attack on a system or a network. This allows to build stronger & more robust systems that cannot be broken by hackers.

The Company’s customers include Banks & other Financial Institutions, government regulatory bodies and departments, large-scale enterprises (including business offices) like HDFC, Bandhan Bank, BSE, National Payments Corporation of India, DSP Investment Managers Private Limited, Motilal Oswal Financial Services Limited, and NSDL e-Governance. 

TAC Infosec reported gross revenue of Rs. 10 Cr in FY23, which increased by 96% from Rs. 5.1 Cr in FY22. Meanwhile, Net Profits of the Company increased by 7-fold from just Rs. 60 Lakh in FY22 to Rs. 5 Cr in FY23.

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Conclusion

In this article on Top Cybersecurity Stocks In India, we have learned that the cybersecurity industry in India is witnessing significant growth due to the rising threat of cybercrimes. Companies like Expleo Solutions, Quick Heal Technologies, Sasken Technologies, and TAC Infosec are leading players in this domain, offering robust solutions to protect customers against cyber-attacks and other cybersecurity threats.

Expleo Solutions, through its recent acquisition of Lucid Technologies & Solutions, has strengthened its capabilities in data governance, data privacy, and augmented analytics. Quick Heal Technologies, is a pioneer in the Indian cybersecurity market, and Sasken Technologies specializes in network security and data protection.

TAC Infosec, a relatively new player in the cybersecurity space, witnessed impressive growth in FY23, with a 96% increase in gross revenue and a seven-fold increase in net profits. The company’s IPO, backed by ace investor Vijay Kedia, was oversubscribed by more than 86 times, indicating investors’ confidence in its potential.

Overall, the cybersecurity industry in India presents significant opportunities for companies offering innovative and robust solutions to combat the ever-evolving cyber threats. Companies with a strong focus on research and development, as well as the ability to adapt to changing market dynamics, are likely to thrive in these rapidly growing sectors.

Written by Nasir Hussain

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