Sonata Software - Consolidated Q1 FY 22-23 PAT at Rs 107.8 Crores

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

Sonata Software, a global IT services and technology solutions company, today reported its unaudited financial results for its 1st quarter ended 30th June 2022.

Speaking on the results 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 ‘Platformation’ 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.”

Sonata is a global technology company, that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent, and scalable. Sonata’s Platformation™ methodology brings together industry expertise, platform technology excellence, design thinking-led innovation and strategic engagement models to deliver sustained long term value to customers. A trusted partner of world leaders in the Retail, Manufacturing & Distribution, Travel and Software industries, Sonata’s solution portfolio includes its own digital platform such as Brick & Click Retail Platform©, Modern Distribution Platform©, Rezopia Digital Travel Platform©, RAPID DevOps Platform©, Kartopia E-commerce Platform© , Halosys Mobility Platform©, and Commodity CTRM Platform©, best-in-class capabilities on ISV digital technology platforms such as Microsoft Dynamics 365, Microsoft Azure, SAP Hybris, Cloud Engineering and Managed Services, as well as new digital applications like IoT, Artificial Intelligence, Machine Learning, Robotic Process Automation, Chatbots, Block Chain and Cyber Security. Sonata’s people and systems are nurtured to bring together the depth of thought leadership, customer commitment and execution excellence to make a difference to business with technology.

Performance Highlights for the quarter:                                                                                                                            

·         Consolidated:

Ø  Revenues at Rs 1778.9 crores; YoY growth of 40%

Ø  EBITDA at Rs 159.8 crores; YoY growth of 24%

Ø  PAT at Rs 107.8 crores; YoY growth of 24%

Ø  DSO days is at 40 days.

Ø  Cash and equivalents of approximately Rs 508.2 Crores (net of borrowings).

 

·         International IT Services:

Ø  Revenues at Rs 436.8 crores; YoY growth of 35%

Ø  Revenue in USD at 56.8 Million, YoY revenue growth of 27.7% in USD terms

Ø  Sonata’s approach to Digitizing business using “Platformation”

Ø  EBITDA at Rs 116.1 crores; YoY growth of 20%

Ø  PAT at Rs 76 crores; YoY growth of 19%

Ø  Addition of 10 new customers.

Ø  Strong cash and liquidity positions maintained. DSO is at 41 days.

Ø  Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers.

 

·         Domestic Products & Services:

Ø  Revenues at Rs 1343.1 crores; YoY growth of 42%

Ø  DSO days at 38 days.

Ø  EBITDA at Rs 44.0 crores; YoY growth of 36%

Ø  PAT at Rs 31.8 crores; YoY growth of 38%

 Sonata is a global technology company, that enables successful platform based digital transformation initiatives for enterprises, to create businesses that are connected, open, intelligent, and scalable. Sonata’s Platformation™ methodology brings together industry expertise, platform technology excellence, design thinking-led innovation and strategic engagement models to deliver sustained long term value to customers. A trusted partner of world leaders in the Retail, Manufacturing & Distribution, Travel and Software industries, Sonata’s solution portfolio includes its own digital platform such as Brick & Click Retail Platform©, Modern Distribution Platform©, Rezopia Digital Travel Platform©, RAPID DevOps Platform©, Kartopia E-commerce Platform© , Halosys Mobility Platform©, and Commodity CTRM Platform©, best-in-class capabilities on ISV digital technology platforms such as Microsoft Dynamics 365, Microsoft Azure, SAP Hybris, Cloud Engineering and Managed Services, as well as new digital applications like IoT, Artificial Intelligence, Machine Learning, Robotic Process Automation, Chatbots, Block Chain and Cyber Security. Sonata’s people and systems are nurtured to bring together the depth of thought leadership, customer commitment and execution excellence to make a difference to business with technology.