Sonata Software delivered a resilient Q3 FY26 performance despite headwinds from a few large clients. Revenue grew marginally QoQ, but profitability improved sharply, with EBITDA rising to ~19.5%, driven by higher utilization, offshore mix improvement, AI-led productivity, and cost optimization, even after absorbing wage hikes and higher cloud costs. The company's strategy as a modernization engineering firm powered by platforms and AI is gaining traction, with AI-led deals now contributing 14% of the order book and cloud/data forming ~50% of the pipeline. Large deal momentum remains strong, with two...