Sonata Software Announced Q1FY23 Result : Sonata Software - Consolidated Q1 FY 22-23 PAT at Rs 107.8 Crores, YoY growth of 24% announces one bonus share for every three equity shares held. Revenues at Rs 1778.9 crores; YoY growth of 40% EBITDA at Rs 159.8 crores; YoY growth of 24% PAT at Rs 107.8 crores; YoY growth of 24% DSO days is at 40 days. Cash and equivalents of approximately Rs 508.2 Crores (net of borrowings). International IT Services: Revenues at Rs 436.8 crores; YoY growth of 35% Revenue in USD at 56.8 Million, YoY revenue growth of 27.7% in USD terms Sonata’s approach to Digitizing business using Platformation™ EBITDA at Rs 116.1 crores; YoY growth of 20% PAT at Rs 76 crores; YoY growth of 19% Addition of 10 new customers. Strong cash and liquidity positions maintained. DSO is at 41 days. Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers Speaking on the results Mr. Srikar Reddy, Managing Director of the Company said: We continue to execute well on our goal of being a strategic partner for our clients in building world class digital enterprises through our unique PlatformationTM methodology. We see the demand situation for digital services being stable with growth in both existing accounts and new deal pipeline. Talent management continues to be a major focus. A comprehensive talent plan, comprising of several initiatives like employee training and development, engagement, and retention, building in advance capacity for future growth and upgrading of existing talent capabilities. Our India business has continued to show robust growth with greater focus on cloud and digital infrastructure. The management team has been strengthened with the addition Roshan Shetty as Chief Revenue Officer, Balaji Kumar as Chief Human Resource Officer and Hemant Kumar Bhardwaj as Chief Marketing Officer. This senior global leadership team led by Samir Dhir is now poised to steer Sonata to greater success. The board in its meeting today also approved issue of one bonus share for every three equity shares held subject to all statutory and stakeholder approvals. Result PDF
Sonata Software declares Q4FY22 result: Consolidated FY 2022 PAT at Rs 376 Crores; 54% YoY growth. Board has recommended final dividend of Rs 13 giving total dividend for year at Rs 21 per share today. Consolidated: Revenues at Rs 1,463.6 crores; EBITDA at Rs 153.1 crores; QoQ growth of 4% PAT at Rs 100.9 crores; QoQ growth of 3% DSO days at 39. Cash and equivalents of approximately Rs 866 Crores (net of borrowings). International IT Services: Revenues at Rs 413.9 crores; QoQ growth of 5% Revenue in USD at 55.7 Million, QoQ revenue growth of 4.3% in USD terms. EBITDA at Rs 113.8 crores; QoQ growth of 3% PAT at Rs 72.4 crores; QoQ growth of 2% Addition of 12 new customers. International services DSO improved from 43 days to 40 days. Overall strategy of creating digital enterprises by creating platform through our unique PlatformationTM methodology are yielding results. Strong growth from digital based competencies like Managed cloud services and Digital PlatformationTM Services (Microsoft & Open source) and focused verticals like ISV, Retail (Essential), Distribution and Manufacturing and Commodity Business & Service Industry. Strong cash and liquidity positions maintained. Improvement in DSO to 40 days from 43 days. Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers. Domestic Products & Services: Revenues at Rs 1,051.0 crores DSO days at 38 days EBITDA at Rs 39.5 crores; QoQ growth of 7% PAT at Rs 28.5 crores; QoQ growth of 8% Commenting on the results Mr. Srikar Reddy, Managing Director of the Company said: The results show that we continue to execute well on our goal of enabling our clients to build world class digital enterprises through our unique PlatformationTM methodology. Over the financial year we have continued to invest in and build world class competencies in platform engineering, cloud transformation, data analytics and Microsoft digital platform and aligning them to PlatformationTM. To serve our international clients better we have set up global delivery centers in Canada and Ireland. Our India business has continued to show robust growth with increasing percentage of cloud and digital infrastructure contracts. We have a comprehensive approach to our human capital. We have initiated a number of initiatives to improve employee training and development, engagement and retention, building up capacity for future growth through new hires and upgrading of existing capabilities. We have increased our near shore delivery presence for different geographical regions. We are excited to announce the appointment of Samir Dhir as new CEO of the company. Samir joined us in April 2022 and is based in the USA. Board has appointed Samir as Whole-time Director today w.e.f 9th May 2022. He has a very impressive record of scaling up organizations in international services. In addition to Samir, we have invested significantly in attracting senior talent globally in Marketing, Business Development and Delivery, to be announced shortly and during the current year. Result PDF