TechD Cybersecurity Limited (TECHD)
TECHD delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 23 Oct 2026, 82.28% of the TECHD shares traded on NSE were taken to delivery, against the stock's own 20-session average of 68.01%. The price fell 2.68% on that unusually high delivery, the pattern the delivery dashboard labels distribution. 1 bulk or block deal was reported in TECHD in the last 60 days: ₹3 Cr sold, none bought.
Delivery in the last 5 sessions: 69.2% · 71.4% · 65.7% · 68.1% · 82.3%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 21 Sep | Sell | Pcg Finvest Private Limited | ₹2.81 Cr | ₹547.61 | 51,300 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
TechD Cybersecurity Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by Registrar and Share Transfer Agent Purva Sharegistry (India) Pvt. Ltd., confirms the handling of securities. During the period from July 1, 2026, to September 30, 2026, zero (NIL) share certificates were dematerialised. This is a standard quarterly administrative filing with no operational or financial impact.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018.
- Covers the quarter ended September 30, 2026 (from 01/07/2026 to 30/09/2026).
- Reported NIL share certificates received or dematerialised during the quarter.
- Certificate confirmed and issued by Purva Sharegistry (India) Pvt. Ltd.
TechD Cybersecurity has secured a ₹13.08 crore (inclusive of GST; ₹11.09 crore ex-GST) multi-year contract for an end customer in the BFSI sector, marking the largest single order in its history. This win takes the company's total order book to ₹70 crore, representing a 63% increase compared to ₹43 crore reported as of March 31, 2026. Across the week of September 29 to October 4, 2026, the company accumulated ₹18.53 crore across 11 orders and one Letter of Intent. The newly secured 3-year engagement covers APM, ASM, and AIOps licensing for up to 50 applications, along with implementation and managed services.
- Secured largest single order of ₹13.08 crore (incl. GST) / ₹11.09 crore (ex-GST) over a 3-year term
- Total order book expands to ₹70 crore, up 63% from ₹43 crore as of March 31, 2026
- Captured ₹18.53 crore in orders within one week (Sep 29 - Oct 4, 2026) across 11 orders and 1 LOI
- Engagement entails enterprise licensing and managed services for up to 50 applications in BFSI
TechD Cybersecurity Limited has secured a purchase order valued at ₹13.08 crore (inclusive of GST) or ₹11.09 crore (excluding GST) from a system integrator for a private BFSI customer. The contract represents the largest single purchase order received by the company to date. It covers a 3-year Enterprise License Agreement (ELA) for an APM, ASM & AIOps platform (up to 50 applications), along with implementation and managed services. Platform delivery is expected within 3–4 weeks, while payments are structured at 100% within 120 days of invoice.
- Total contract value of ₹13,08,03,000 inclusive of GST (₹11,08,50,000 excluding GST)
- Represents the company's largest single purchase order to date
- Scope covers a 3-year Enterprise License Agreement for up to 50 applications plus implementation and managed services
- Delivery timeline set at 3–4 weeks from purchase order date
- 100% payment terms within 120 days from the invoice date
TechD Cybersecurity Limited has secured five purchase/service orders and one Letter of Intent (LOI) aggregating to ₹2.36 crore (inclusive of GST) or ₹2.00 crore (excluding GST). The contracts include three annual orders under a 3-year term from a listed global IT services company, two audit orders from an Indian conglomerate, and a 3-year MSSP LOI from a SEBI-registered stock broker. The engagements provide recurring revenue visibility across next-gen SIEM platform subscriptions, threat intelligence, and cyber audits.
- Total aggregate value across 5 orders and 1 LOI is ₹2,36,33,149.74 inclusive of GST (₹2,00,28,093.00 excluding GST)
- Largest single order is worth ₹85,50,000 per annum (excl. GST) for Next-Gen SIEM & 24x7 SOC services under a 3-year framework
- LOI received for a 3-year MSSP engagement from a stock broking firm valued at ₹48,33,000 (excl. GST)
- Includes ₹22,15,386 and ₹6,00,000 cybersecurity assessment orders across conglomerate sites
TechD Cybersecurity Limited has secured five purchase orders on September 29, 2026, totaling approximately ₹3.08 crore (inclusive of GST) or ₹2.69 crore (excluding GST). The contracts comprise one direct contract with a listed geospatial technology company worth ₹50.72 lakh and four contracts via a channel partner across BFSI, financial technology, IT services, and e-commerce sectors. The largest single order is worth ₹1.04 crore (incl. GST) for SIEM/data analytics platform support in the BFSI sector. All orders were received in the ordinary course of business from domestic private sector clients.
- Total aggregate order value is ₹3,08,31,396 (inclusive of GST) and ₹2,69,01,995 (exclusive of GST)
- Largest order win is ₹1,03,84,000 (incl. GST) for SIEM / Data Analytics Platform Support Services in the Banking & Finance sector
- Direct client win: 12-month EDR Platform Subscription Renewal covering 1,100 endpoints valued at ₹50,71,996 (zero-rated SEZ supply)
- Four orders secured indirectly via a listed cybersecurity distributor / system integrator channel partner
TechD Cybersecurity Limited has released the notice convening its 10th Annual General Meeting (AGM) on Wednesday, September 30, 2026, at 11:30 AM IST via Video Conferencing. Key ordinary agenda items include the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the re-appointment of retiring director Mr. Vaghela Piyush Rasiklal. The company noted that no special business items are proposed for this meeting.
- 10th Annual General Meeting scheduled for September 30, 2026, at 11:30 AM via VC/OAVM
- Ordinary business includes adoption of audited financial statements for the FY ended March 31, 2026
- Re-appointment of director Mr. Vaghela Piyush Rasiklal (DIN: 07693754), who retires by rotation
- Notice and Annual Report dispatched based on member records as of September 04, 2026
TechD Cybersecurity Limited announced the outcome of its Board meeting held on September 05, 2026. The Board approved the Directors' Report and Annual Report for FY 2025-26 and scheduled its 10th Annual General Meeting (AGM) for September 30, 2026, via Video Conferencing. The cut-off date for remote e-voting eligibility is set for September 23, 2026, with voting open from September 27 to September 29, 2026. Additionally, the re-appointment of retiring director Mr. Piyush Vaghela and the appointment of the AGM scrutinizer were approved.
- 10th Annual General Meeting scheduled for September 30, 2026, at 11:30 AM via VC/OAVM
- Cut-off date for e-voting eligibility established as September 23, 2026
- Remote e-voting window active from September 27, 2026 (09:00 AM) to September 29, 2026 (05:00 PM)
- Re-appointment of Mr. Piyush Vaghela (retiring by rotation) proposed for shareholder approval
TechD Cybersecurity Limited has bagged two direct client contracts aggregating approximately ₹4.89 Crore inclusive of GST (₹4.62 Crore exclusive of GST). The first is an international contract from a Middle East EdTech company valued at USD 326,964 (approx. ₹3.12 Crore) for SIEM subscription and 24x7 Managed SOC services for 12 months starting 1 September 2026. The second is a domestic contract from a private manufacturing firm worth ₹1.50 Crore (exclusive of GST) for comprehensive cybersecurity services and 15 dedicated personnel for 1 year.
- Aggregate order value stands at approx. ₹4.89 Crore (incl. GST) and ₹4.62 Crore (excl. GST)
- International export order from Middle East valued at USD 326,964 (approx. ₹3.12 Crore)
- USD 256,964 SIEM subscription component payable 100% in advance within 30 days
- Domestic enterprise order valued at ₹1.50 Crore per annum, deployable across 15 dedicated resources with a potential 2-year extension
TechD Cybersecurity Limited has secured five new contracts and a Letter of Intent (LOI) totaling ₹3.09 crore (inclusive of GST). The largest win is a ₹1.18 crore (excl. GST) 32-month managed security contract with a listed manufacturing firm, providing revenue visibility through March 2029. Additionally, the company received a ₹45 lakh LOI from a UAE-based entity, marking an international expansion into the Middle East. Other orders include services for a SEBI-regulated entity and IT firms, with execution timelines ranging from 9 to 32 months.
- Aggregate order value of ₹3,08,61,200 (inclusive of GST) received on August 5, 2026
- Largest single order worth ₹1,18,40,000 (excl. GST) spanning 32 months until March 2029
- International expansion via a ₹45,00,000 Letter of Intent from a UAE-based company for a 3-year term
- Diversified client base including a Large Size SEBI Regulated Entity and listed manufacturing companies
- Contracts cover high-margin services like VAPT, Managed SOC, and AI-native security modules
TechD Cybersecurity has secured multiple purchase orders and letters of intent totaling ₹2.91 crore (inclusive of GST) within a 48-hour period ending July 27, 2026. The contracts cover a wide range of services including AI Management System (ISO 42001) consulting, Managed SOC services, and Privileged Access Management (PAM) support. Clients include a leading stock exchange, a pharmaceutical company, and a FoodTech SaaS provider, demonstrating significant sector diversification. The largest individual orders are for PAM and Network Security support, valued at ₹65 lakh and ₹63 lakh respectively (excluding GST).
- Aggregate order value of ₹2,91,28,300 (inclusive of GST) received within a 48-hour window.
- Secured a 3-year contract for ISO/IEC 42001 AI Management System consulting with a leading Stock Exchange.
- Largest single order valued at ₹65,00,000 (excluding GST) for Privileged Access Management support services.
- Diversified client portfolio across 7 orders including Pharma, FoodTech, and Market Infrastructure sectors.
- Includes a Letter of Intent (LoI) for MSSP engagement with an Engineering & Construction company.
Financial Performance
Revenue Growth by Segment
The company recorded a total revenue of INR 18.18 Cr in H1 FY26, representing a 41% YoY growth compared to H1 FY25. The Enterprise Business contributed INR 35 Cr to the total order book, while the Training segment contributed the remaining balance of approximately INR 5.2 Cr.
Geographic Revenue Split
International revenue contribution increased from 15% in FY24 to 21% in H1 FY26. The company targets a 50/50 split between domestic and international markets by FY27, leveraging higher ticket sizes in regions like the UAE and USA.
Profitability Margins
Net profit grew from INR 3 Cr in FY24 to INR 8 Cr in FY25. For H1 FY26, PAT increased by 49% YoY to INR 6.36 Cr. Operational margins are supported by a shift toward international business and cost-efficient resource deployment through university partnerships.
EBITDA Margin
EBITDA margin stood at 46% (INR 8.50 Cr) in H1 FY26, an increase from 40.48% in FY25. This 5.52 percentage point improvement is attributed to standardized project management systems and reduced delivery costs through automation.
Capital Expenditure
The company raised INR 38.99 Cr through a fresh issue in its IPO to fund growth, specifically for setting up a Global Security Operations Centre (GSOC) and expanding the 'Cyber Valley' facility from 400 to 600 seats.
Operational Drivers
Raw Materials
As a service-oriented firm, primary 'raw materials' are OEM software licenses (e.g., Forcepoint DLP/DSPM) and human capital. OEM costs are currently a significant expense, which the company aims to reduce through R&D and technology transfers.
Import Sources
Technology is sourced from global OEMs; specific countries are not listed, though expansion is focused on the USA and UAE for service delivery.
Key Suppliers
Forcepoint is specifically named as a key OEM partner for DLP (Data Leakage Prevention) and DSPM (Data Security Posture Management) deployments.
Capacity Expansion
Current facility capacity is being expanded from 400 to 600 people at the 'Cyber Valley' center to support managed security services (MSSP) and international clients.
Raw Material Costs
OEM dependency is the primary cost driver. The company is implementing R&D and technology transfers to internalize tech and improve margins beyond the current 49% gross level.
Manufacturing Efficiency
Service efficiency is tracked via SIEM utilization (90,000+ EPS) and a 95% renewal rate, indicating high client satisfaction and predictable recurring revenue.
Logistics & Distribution
Not applicable; services are delivered digitally via SOC and on-site consulting.
Strategic Growth
Expected Growth Rate
40-50%
Growth Strategy
Growth will be driven by expanding international operations in the USA and UAE, targeting a 100% growth rate from FY27 onwards as international ticket sizes (averaging INR 3 Cr for large contracts) surpass domestic sizes (INR 6-10 Lakhs). The company also plans to acquire niche firms in DSPM, DevSecOps, and OT security.
Products & Services
VAPT (Vulnerability Assessment and Penetration Testing), Managed SOC Services, Compliance Audits, Cybersecurity Training, DLP (Data Leakage Prevention), and DSPM (Data Security Posture Management).
Brand Portfolio
TechD (formerly TechDefence Labs).
New Products/Services
Transitioning from a pure service model to a product-plus-service model by FY27, including in-house developed cybersecurity tools and niche acquisitions.
Market Expansion
Expanding presence in South and East India, UAE, and USA, while entering new verticals like Manufacturing, Healthcare, and PSUs.
Market Share & Ranking
Recognized as one of the fastest-growing cybersecurity companies in India; received the 'Viksit Bharat Leadership' award.
Strategic Alliances
Partnerships with 50-70 universities to run undergraduate and postgraduate cybersecurity programs, creating a workforce of over 100,000 professionals.
External Factors
Industry Trends
The Indian cybersecurity market is projected to reach $20 billion by 2032. The industry is shifting toward Managed Security Service Providers (MSSP) and automated SOC solutions.
Competitive Landscape
Competes with global and domestic MSSPs; differentiates through certified researchers (MSRC Top 100 hackers) and deep government/BFSI sector penetration.
Competitive Moat
TechD's moat includes its CERT-In empanelment, a 'Talent Factory' university pipeline that lowers recruitment costs, and a repository of 100+ issued security advisories and 'Hall of Fame' recognitions from Fortune 500 companies.
Macro Economic Sensitivity
Highly sensitive to digital transformation trends and the increasing frequency of cyberattacks globally.
Consumer Behavior
Enterprises are shifting from one-time audits to multi-year managed service contracts due to increasing regulatory pressure.
Geopolitical Risks
Expansion into the UAE and USA introduces exposure to international regulatory environments and trade policies.
Regulatory & Governance
Industry Regulations
The Digital Personal Data Protection (DPDP) Act is a major driver, as it mandates security and privacy for organizations in India with strict penalty enforcements for non-compliance.
Legal Contingencies
The company maintains indemnity and cyber insurance to cover potential liabilities arising from service-related security incidents.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful scaling of international operations and the integration of planned M&A targets, which are critical for reaching the $100M revenue goal.
Geographic Concentration Risk
Currently heavily concentrated in India (79% of revenue), though rapidly expanding in the UAE (INR 3 Cr contract) and USA.
Third Party Dependencies
High dependency on OEMs for specialized security software, impacting the ability to control the full value chain.
Technology Obsolescence Risk
Cybersecurity is rapidly evolving; the company mitigates this through AI/ML R&D and a focus on 'future-proof' OT and mobility defense.
Credit & Counterparty Risk
Receivables management is a focus area given the 153-day cash conversion cycle; 95% renewal rates suggest high-quality, stable counterparties in regulated sectors.
