Conference Call with Sonata Software Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Sonata Software announced Q4FY23 results: Consolidated Q4FY23: Revenue at Rs 1,913.5 crore EBITDA at Rs 176.7 crore; QoQ growth of 2% PAT at Rs 113.8 crore Net Cash and equivalents of approximately Rs 451 crore (net of borrowings). International IT Services Q4FY23: Revenue at Rs 533.5 crore; QoQ growth of 9% Revenue in USD at 65.8 Million, Revenue growth of QoQ of 8.6% & YoY 18.1% in USD terms, EBITDA at Rs 123.5 crore PAT at Rs 74.8 crore Addition of 17 new customers International services DSO for FY23 is 45 days Overall strategy of delivering outcome-based Modernization services using our Domain-Led and technology based Modernization anchored by GTMs executed through Platformation Strong growth from digital-based competencies like Managed cloud services and Digital Platformation Services (Microsoft & Open source) and focused verticals like TMT, Healthcare & Life Sciences, Manufacturing, Retail / CPG/ TTH, BFSI, and Emerging. Bayer chose Sonata as the top SI partner for its new Agri-Food Cloud solution. Sonata is now a global partner for Sinequa Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers Domestic Products & Services Q4FY23: Revenues at Rs 1,383.4 crore EBITDA at Rs 54 crore; QoQ growth of 4% PAT at Rs 39 crore; QoQ growth of 8% DSO days for FY23 is 37 days Speaking on the quarterly results Samir Dhir, MD & CEO of the Company said, “We are excited to report yet another quarter of Industry-leading growth. Our Rupee Revenue for Q4 FY’23 grew by 9% QoQ (8.6% in Dollar terms). Full-year rupee Revenue grew by 29%. (18.1% in USD terms). Consolidated PAT for FY’23 grew by 20% YoY. Our modernization-driven solutions enabled three large deal wins, including our largest-ever deal win of USD 160 million. In addition, we completed the acquisition of Quant Systems in the quarter to strengthen our recently announced incubating BFSI and Healthcare verticals”. Speaking on the results Sujit Mohanty, MD & CEO of Sonata Information Technology said, “Our domestic products and services division had an outstanding year of financial performance. Our Gross Contribution grew by 2.9% QoQ and 29% YoY on full year basis. Our FY’23 PAT grew by 39% YoY. We are seeing the positive results of our focus on multi-year annuity enterprise sales and will continue to prioritize enterprise clients to drive further growth.” Result PDF