A rare buying opportunity in 1 of Australia's top shares?

Growth investors will not want to miss this exciting share.

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Tuas Ltd (ASX: TUA) is one of Australia's top shares, in my view. It may have its operations in Singapore, but it's registered in Australia and listed on the ASX.

Its core business is providing telecommunications operations in Singapore. It's not common for an ASX share to have its main revenue generation outside of Australia, New Zealand, or the US.

The business is not a blue chip (yet), but it has rapidly become a multi-billion-dollar business that still has enormous growth potential.

Man drawing an upward line on a bar graph symbolising a rising share price.

Image source: Getty Images

Growing market share

One of the things that makes this one of Australia's top shares is the fact that the business has managed to build such a sizeable position in the country in a relatively short amount of time (in this decade).

It more than doubled its mobile subscriber count in Singapore over three years, from 691,000 in the first half of FY23 to 1.41 million in the first half of FY26. The HY26 growth was 21.7% year over year.

Additionally, the company is starting to gain some traction in the broadband space. Its HY26 broadband subscribers increased by around 32,000 to 46,000. I believe its broadband position will continue to grow, particularly once it finalises the acquisition of Singapore competitor M1.

The business is expecting Simba (its consumer-facing brand) to continue to strengthen its mobile and fibre broadband segments over the rest of FY26.

Operating leverage

One of the best advantages of subscriber growth is that not only does it mean revenue growth, but it also leads to an increase in profit margins, allowing the bottom line to rise at a faster pace than revenue. It's the bottom line that investors ultimately value a company on.

The business reported revenue growth of 26% year over year, while underlying operating profit (EBITDA) rose 27% to $42.1 million. Pleasingly, underlying net profit jumped by $15.7 million to $18.7 million (which excludes acquisition costs). Statutory net profit improved $5.2 million to $8.2 million.

Why I think this top Australia share has a long way to grow

The business is still growing its subscriber base (and revenue) at a strong rate, which is good for compounding.

I'm optimistic the business can continue diversifying its earnings, particularly once its M1 acquisition goes through, because it will grow its non-mobile earnings. I also believe the business can successfully expand into other nearby countries, such as Malaysia or Indonesia, which would significantly improve its growth runway.

Businesses that are growing quickly are well worth paying attention to. Tuas has already demonstrated its ability to win customers, and I think it can continue this success under the leadership of David Teoh.

Motley Fool contributor Tristan Harrison has positions in Tuas. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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