Sonata Software Ltd. — Annual Report 2019

May 30, 2019

30th May, 2019

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Mumbai Kind Attn: Manager, Listing Department Email Id: neaps@nse.co.in Stock Code - SONATSOFTW

BSE Limited P.J. Towers, Dalal Street Mumbai Kind Attn: Manager, Listing Department Email Id: listing.centre@bseindia.com Stock Code - 532221

Dear Sirs,

SUB: Outcome of Board Meeting

REF: Disclosure under Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We write to inform you that at the meeting of the Board of Directors held today, the Board, inter alia, has-

• a) Considered and adopted financial results for the fourth quarter and Audited Financial Results for the financial year ended 31st March, 2019. The said results in the prescribed format alongwith Audit Reports are enclosed herewith. A copy of the press release is also enclosed for your reference.
• b) The Independent Audit Reports on the Audited Financial Results of the Company (Standalone and Consolidated) for the financial year ended on 31st March, 2019 is with unmodified opinion and the declaration is attached.

Further, the Board of Directors have also:

• c) Recommended a Final Dividend of Rs. 8/- per Equity share (800% on par value Re. 1/-) for the financial year ended 31st March, 2019 and the Final Dividend is payable subject to the approval of shareholders at the forthcoming Annual General Meeting (AGM). The dividend, subject to the approval of shareholders, will be dispatched I credited within 30 days from the date of Annual General Meeting.
• d) Approved to convene the 24th AGM of the Company on Wednesday, August 7, 2019.
• e) The Register of Members and Share Transfer Books of the Company will remain closed from Thursday, 1st August, 2019 to Wednesday, 7th August, 2019 (both days inclusive), for the purpose of final dividend (if approved) and Annual General Meeting.

f) Approved re-appointment of Mr. Pradip P Shah (DIN: 00066242) and Ms. Radhika Rajan (DIN: 00499485) as Independent Directors

Based on the recommendation of Nomination and Remuneration Committee, the Board, pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has approved the re-appointment of Mr. Pradip P Shah and Ms. Radhika Rajan as independent directors for a second term of 5 years, subject to approval of shareholders at the ensuing AGM. Further Mr. Pradip Shah and Ms. Radhika Rajan are not debarred from holding the office of director by virtue of any SEBI order or the order of any statutory authority. The brief profiles of the directors are available on the website of the Company i.e., www.sonata-software.com

The meeting commenced at 1.00 p.m. and concluded at 3.50 p.m. Also note that the aforesaid information will be available on our website www.sonata-software.com

Kindly take the same on record.

Thanking you,

Yours faithfully For Sonata Software Limited

RASHMI VIVEK SHIRKE Digitally signed by RASHMI VIVEK SHIRKE Date: 2019.05.30 15:57:08 +05'30'

Rashmi Shirke Assistant Company Secretary and Compliance Officer

Deloitte Chartered Accountants Bengaluru - 560 001 Haskins & Sells LLP Karnataka, India

Prestige Trade Tower, Level 19 46, Palace Road, High Grounds -

Tel: +91 80 6188 6000 Fax: +91 80 61 88 6011

INDEPENDENT AUDITOR'S REPORT

TO THE BOARD OF DIRECTORS OF SONATA SOFTWARE LIMITED

• 1. We have audited the accompanying Statement of Standalone Financial Results of SONATA SOFTWARE LIMITED ("the Company"), for the year ended March 31, 2019 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors has been compiled from the related standalone financial statements which has been prepared in accordance with the Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder a~d other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on our audit of such standalone financial statements.
• 1. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the Company's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal financial controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.

We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

• 1. In our opinion and to the best of our information and according to the explanations given to us, the Statement:
  • (i) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016; and

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• (ii) gives a true and fair view in conformity with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the profit, total comprehensive income and other financial information of the Company for the year ended March 31, 2019.
• 1. The Statement includes the results for the Quarter ended March 31, 2019 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W- 100018)

;: ✓

Gurvinder Singh Partner (Membership No 110128)

MUMBAI, May 30, 2019

Registered Office: 208, T. V. Industrial Estate, S.K. Ah ire Marg, Worli, Mumbai - 400 030

Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore -560 019

CIN • L72200MH1994PLC082110

www.sonata-software.com, Tel: +91-080-67781999 Fax : +91-080-26601387, investor@sonata-software.com

Part I " in lakhs, except per share data

Statement of standalone financial results for the quarter and year ended March 31, 2019

			Quarter ended		Year ended
SI No.	Particulars	March 31,2019	Oecember 31,2018	March 31,2018	March 31,2019	March 31,2018
		(Refer Note 2)	(Unaudited)	{Refer Note 2)	(Audited)	(Audited)
l	Revenue from operations	21,907	21,199	17,962	82,933	68,851
2	Other income	288	(259)	1,098	1,768	4,196
3	Total Revenue (1 + 2)	22,195	20,940	19,060	84,701	73,047
4	Expenses
	(a) Purchases of Stock-in-Trade	1,162	1,104	856	4,651	4,494
	(b) Employee benefits expense	10,712	10,145	9,224	40,466	36,412
	(c) Finance costs	-	2	2	8	17
	(d) Depreciation and amortization expense	160	160f	141	613	500
	(e) Other expenses	4,003	3,919	3,185	15,075	11,848
	Total expenses	16,037	15,330	13,408	60,813	53,271
5	Profit before exceptional items and tax (3 - 4)	6,158	5,610	5,652	23,888	19,776
6	Exceptional item
	- Interest income on income tax refund	-	-	-	49	49
7	Profit before tax (5 + 6)	6,158	5,610	5,652	23,937	19,825
8	Tax expense
	(1) Current tax	1,951	1,749	1,547	7,210	4,959
	(2) Deferred tax	(275)	(4)	(247)	(516)	(262)
9	Profit for the period (7 - 8)	4,482	3,865	4,352	17,243	15,128
10	Other comprehensive income
	1 (a) Items that will not be reclassified to profit or (loss)	66	(306)	(5)	(22)	(70)
	(b) Income tax relating to items that will not be reclassified to profit or
	(loss)	(30)	93	1	6	17
	2 Items that will be reclassified to profit or (loss)
	(a) Exchange differences in translating the financial statements of
	foreign operations	34	(228)	133	(99)	238
	(b) Exchange differences on forward cover	704	3,128	(291)	1,721	(635)
	(c) Income tax relating to items that will be reclassified t o
	profrt or (loss)	(117)	(888)	39	(454)	97
	Total	657	1,799	(123)	1,152	(353)
11	Total Comprehensive Income for the period (9 + 10)	5,139	5,664	4,229	18,395	14,775
12	Paid-up equity share capital (Face Value 1" 1/-)	1,039	1,039	1,038	1,039	1,038
13	Other equity	52,276	48,105
14	Earnings per equity share (off 1/- each) (Refer Note 7)			48,105	52,276	48,105
	(a) Basic	4.32	3.72	4.19	16.59	14.57
	(b) Diluted	4.31	3.72	4.19	16.58	14.56
	See accomoanyine notes to the financial results

Ill

Registered Off"ice: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030 Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019 CIN - L72200MH1994PLC082110

www.sonata-software.com, Tel : +91-080-6n81999 Fax : +91-080-26601387, investor@sonata-software.com

	I " in lakhs)St andalone Balance Sheet
		As at	As at
SI No.	Particulars	March 31, 2019	March 31, 2018
	ASSETS
1	NON-CURRENT ASSETS
	(a) Property, plant and equipment	1,711	1,757
	(b) Capital work-in-progress	3	27
	(c) Goodwill	282	282
	(d) Financial assets
	(i) Investments	5,034	9,617
	(ii) Other financial assets	1,474	1,236
	(e) Deferred tax assets (net)	1,124	1,056
	(f) Other non-current assets	2,801	2,936
		12,429	16,911
2	CURRENT ASSETS
	(a) Financial assets
	(i} Investments	,9,899	10,295
	(ii) Trade receivables	28,860	18,483
	(iii) Cash and cash equivalents	7,174	11,627
	(iv) Bank balances other than (iii) above	1,436	939
	(v) Loans	245	-
	(vi) Other financial assets	4,807	2,146
	(b) Other current assets	842	512
		53,263	44,002
	TOT AL - ASSETS	65,692	60,913
	EQUITY AND LIABILITIES
3	EQUITY
	(a) Equity share capital	1,039
	(b) Other equity		1,038
		52,27653,315	48,10549,143
	LIABILITIES
4	NON-CURRENT LIABILITIES
	(a)Financial liabilities
	(i)Other financial liabilities	914	-
	(b)Other non-current liabilities	8581,nz	772
			772
5	CURRENT LIABILITIES
	(a) Financial liabilities
	(i) Trade payables	5,160	5,772
	(ii) Other financial liabilities	421	516
	(b) Other current liabilities	1,637	1,310
	(c) Provisions	1,228	990
	(d) Current tax liabilities (net)	2,159	2,410
		10,605	10,998
	TOTAL- EQUITY AND LIABILITIES	65,692	60,913

Notes:

1 These quaterly and year ended standalone financial results prepared in accordance with Indian Accounting Standards applicable as per Sec 133 of the Companies Act, 2013 have been reviewed by the Audit Committee and approved by the Board of Directors at t heir respective meetings held on May 30, 2019.

2 The figures for the quarter ended March 31, 2019 and March 31, 2018, are balancing figures arrived at based on audited results of the full financial year and published year to date unaudited figures for nine months ended December 31, 2018 and December 31, 2017 respectively.

3 The Board of Directors recommended a final dividend of Rs 8 (800% on par value of Rs 1/ -) per equity share for the financial year ended March 31, 2019. The payment is subject to the approval of the shareholders in the ensuing Annual General M eeting of the Company.

4 The Register of Members and Share Transfer Books will remain closed from Thursday, August 1, 2019 to Wednesday, August 7, 2019 (both days inclusive}. The Annual General Meet ing has been scheduled to be held on August 7, 2019.

5 The Company publishes standalone financial results along with consolidated financial results. In accordance with Ind AS 108 Operating Segments, the Company has disclosed the segment informat ion in the consolidated financial results.

6 As the quarter and year end figures are taken from the source and rounded to the nearest digits, the figures reported for the previous quarters might not always add upto the year figures reported in this statement.

7 EPS for quarterly periods is not annualised.

Place: Mumbai

& CHIEF EXECUTIVE OFFICER

Deloitte Chartered Accountants Bengaluru - 560 001 Haskins & Sells LLP Karnataka, India

Prestige Trade Tower, Level 19 46, Palace Road, High Grounds -

Tel: +91806188 6000 Fax: +91 80 6188 6011

INDEPENDENT AUDITOR'S REPORT

TO THE BOARD Of DIRECTORS Of SONATA SOFTWARE LIMITED

• 1. We have audited the accompanying Statement of Consolidated Financial Results of SONATA SOFTWARE LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the year ended March 31, 2019 ("the Statement"), being submitted by the Parent ,Pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.
• 1. This Statement, which is the responsibility of the Parent's Management and is approved by the Board of Directors, has been compiled from the related consolidated financial statements which has been prepared in accordance with the Indian Accounting Standards ('Ind AS'), prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express an opinion on the Statement based on our audit of such consolidated financial statements.
• 1. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Statement. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial controls relevant to the Parent's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Parent's internal financial controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the Statement.

We believe that the audit evidence obtained by us and the audit evidence obtained by other auditors in terms of their reports referred to in paragraph 5 below, is sufficient and appropriate to provide a basis for our audit opinion .

• 1. In our opinion and to the best of our information and accord ing to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statements and the other financial informat ion of subsidiaries, referred to in paragraph 5 below, the Statement:
  • a. includes the resu lts of the subsidiaries as given in Annexure to this report;

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Deloitte Haskins & Sells LLP

• b. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016; and
• c. gives a true and fair view in conformity with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the profit, total comprehensive income and other financial information of the Group for the year ended March 31, 2019.
• 1. We did not audit the financial statements of three subsid iaries included in the consolidated financial results, whose financial statements reflect total assets of Rs. 13,550 lakhs as at March 31, 2019, total revenue-s of Rs. 12,454 lakhs, total profit after tax of Rs .2,026 lakhs and total comprehensive income of Rs. 1,901 lakhs for the year ended on that date, as considered in the consolidated financial results. These financial statements have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures inclu ded in respect of these subsidiaries is based solely on the reports of the other auditors.

Our opinion on the Statement is not modified in respect of the above matter w ith respect to our reliance on the work done and the reports of the other auditors.

1. The Statement includes the results for the Quarter ended March 31, 2019 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W-10?9l8)

t:ft/'.,.r4'-

Gurvinder Singh Partner (Membership No 110128)

MUMBAI, May 30, 2019

Deloitte Haskins & Sells LLP

Annexure to the Auditor's Report

List of Subsidiaries:

• 1. Sonata Information Technology Limited
• 1. Sonata Software North America Inc.
• 1. Rezopia Inc.
• 1. Halosys Technologies Inc.
• 1. Interactive Business Information Systems Inc.
• 1. Sonata Software GmbH
• 1. Sonata Software FZ LLC
• 1. Sonata Europe Limited
• 1. Sonata Software (Qatar) LLC
• 1. Scalable Data Systems Pty Ltd (w.e.f. December 21, 2018)
• 1. Sopris Systems LLC (w.e.f February 15, 2019)

---

Registered Office: 208, T.V. lndustrlal Estate, S.K. Ahire Marg, Worli, Mumbai· 400030 Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019

CIN - l72200MH1994PLC082110

www.sonata-software.com, Tel: +91-080-6TT81999 Fax: +91-080-26601387, investor@sonata-software.com

	Part I					fin lakhs, except per share data
	Statement of consolidated financial results for the quarter and year ended March 31, 2019
			Quarter ended		Year ended
SI No.	Particulars	Mardi 31,2019	December 31.2018	March31~2018	March 31,2019	March 31,2018
		(Refer Note 2/	(Unaudited}	(Refer Note Z}	(Audited}	{Audited}
1	Revenue from operations
2	Other income	83,555749	84,396(474)	62,5801,188	296,0902,725	245,3944,545
3	Total Revenue (1 + 2)	84,304	83,922	63,768	293,815	249,939
4	Expenses
	(a) Purchases of Stock-in-Trade ffraded goods)	51,572	53,932	37,397	178,036	148,807
	(b) Changes in inventories of Stock-in-Trade			3
	(c) Employee benefits expense	15,251	13,792	12,875	56,886	51,374
	(d) Finance costs	71	106	98	339	481
	(e) Depreciation and amortization expense(f) Other expenses	4017,890	2956,692	2985,951	1,27427,007	1,24122,114
	Total expenses	75,185	74,817	56,622	264,142	224,017
5	Profit before exceptional items and tax (3 -4)	9,119
			9,105	7,146	34,673	25,922
6	Exceptional rtem
7	- Interest income on income tax refundProfit before tax (5 + 6)	919,210	9,105	7,146	27634,949	11526,037
	-
8	Tax expense(1) Current tax
	(2) Deferred tax	3,170(495)	2,554158	1,976(258)	11,045(984)	7,125(301)
9	Profit for the period (7 - 8)	6,535	6,393	5,428	24,888	19,213
	10 Other comprehensive income1 (a} Items that will not be reclassrfied to profit or (loss)	76	(331)	(3)	{22)
	(b) Income tax relating to items that will not be r-eclassifted					(99)
	to profit or (loss)	(ZZ)	98	1	11	24
	2 Items that will be r-eclassified to profit or (loss)
	(a) Exchange differences in translating the financial statements
	of foreign operations	285	(515)	236	(76)	286
	(b) Exchange differences on forward cover	909	3,099	(244)	1,665	(581)
	(c) Income tax relating t o Items that will bereclassified to profit or (loss)	(201)	(TTO)		(348)
	Total	1,047	1,581	2(8)	1,230	72(293)
	11 Total Comprehensive Income for the period (9 + 10)	7,582	7,974	5,420	26,118	18,915
	Of the Total Comprehensive Income above, total comprehensive incomeattributable to:
	Owners of the parent	7,582	7,988	5,476	26,156	18,955
	Non - controlling interest		(14)	(56)	(38)	(40)
		7,582	7,974	5,420	26,118	18,915
	Of the Total Comprehensive Income above, Profit for the period
	attributable to:Owners of the parent	6,535	6,407	5,484	24,926	19,253
	Non - controlling interest		(14)	(56)	(38)	(40)
		6,535	6,393	5,428	24,888	19,213
	Of the Total Comprehensive Income above, Other Comprehensive Income
	for the period attributable to:
	Owners of the parentNon - controlling interest	1,047	1,581	(8)	1,230	(298)
		1,047	1,581	(8)	1,230	(293)
	12 Paid-up equity share capital (Face Value f 1/-}	1,039	1,039
	13 Other equity	75,787	64,293	1,03864,293	1,03975,787	1,03864,293
14	Earnings per equity share (off 1/- each) (Refer Note 8)
	(a) Basic	6.29	6.17	5.28	23.99	18.54
	(b) Diluted	6.29	6.16	5.28	23.97	18.54
	See accompanying notes to the consolidated financial results

Registered Office: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030 Corporate Office: 1/4, A.P.S Trust Building, Bull Temple Road, N.R. Colony, Bangalore - 560 019

CIN - L72200MH1994PLC082110

www.sonata-software.com, Tel: +91--080-67781999 Fax: +91-080-26601387, investor@sonata-software.com

Part II			(fin lakhs)
	Consolidated Balance Sheet
SI No.	Particulars	AsatMarch 31, 2019	AsatMarch 31, 2018
	ASSm
1	NON-CURRENT ASSETS
	(a) Property, Plant and Equipment	2,203	2,315
	(b) Capital work-in-progress	55	28
	(c) Goodwill	14,519	8,067
	(d) Other intangible assets	3,220	1,009
	(e) Financial assets
	(i) Investments	621	6,845
	(ii) Other Financial Assets	1,912	2,117
	(f) Deferred tax assets (net)	1,190	1,244
	(g) Other non-current assets	4,412	6,363
	Total	28,132	27,988
2	CURRENT ASSETS
	(a) Financial assets
	(i) Investments	14,015	12,997
	(ii) Trade receivables	81,111	39,644
	(iii) Cash and cash equivalents	17,432	33,406
	(iv) Bank balances other than (iii) above	2,489	1,329
	(v) Other Financial Assets	6,854	4,275
	(b) Other current assets	2,775	3,602
	Total current assets	124,676	95,253
	TOTAL ASSETS	152,808	123,241
	EQUITY AND LIABILITIES
3	EQUITY
	(a) Equity Share capital	1,039	1,038
	(b) Other equity	75,787	64,293
	(c) Non-controlling interest	-	(4)
	Total	76,826	65,327
4	NON-CURRENT LIABILITIES
	(a) Financial liabilities
	(i) Borrowings	-	1,868
	(ii) Other Financial Liabilities	3,284	243
	(b) Other non-current liabilities	1,0664,350	1,0253,136
5	CURRENT LIABILITIES
	(a) Financial liabilities
	(i) Borrowings	1,562	-
	(ii) Trade payables	58,733	43,226
	(iii) Other Financial Liabilities	388	1,920
	(b) Other current liabilities	4,842	4,205
	(c) Provisions	1,850	1,437
	(d) Current tax liabilities (net)	4,257	3,990
	Total current liabilities	71,632	54,778
	TOTAL EQUITY AND LIABILITIES	152,808	123,241

Notes:

• 1 -These quarterly and year ended consolidated financial results are prepared in accordance with Indian accounting standards applicable as per Sec 133 of the Companies Act, 2013, have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 30, 2019.
• 2 The figures for the quarter ended March 31, 2019 and March 31, 2018, are balancing figures arrived based on audited results of the full financial year and published year to date unaudited figures for nine months ended December 31, 2018 and December 31, 2017 respectively.
• 3 Consolidated financial results include subsidiaries i.e, Sonata Information Technology Limited, Sonata Software North America Inc., Rezopia, Inc., Halosys Technologies Inc., Interactive Business Information Systems Inc. (IBIS), Sonata Software GmbH, Sonata Europe Limited, Sonata Software FZ-LLC, Sonata Software (Qatar) LLC, Scalable Data Systems Pty Ltd ( w.e.f December 21, 2018) and Sopris Systems LLC (w.e.f February 15, 2019).
• 4 On February 15,2019, Sonata Software North America lnc.(a wholly owned subsidiary of Sonata Software Limited) acquired 100% of voting rights in Sopris Systems LLC, a Delaware-based limited liability Company specialised in Microsoft Dynamics for field services and project- centric companies for a total consideration of upto USD 7.02 million (approximately~ 4,974 lakhs), comprising of cash consideration of USD 4.03 million (approximately ~ 2,850 lakhs), contingent consideration of upto USD 2.99 million (approximately~ 2,124 lakhs).The payment of contingent consideration is dependent upon the achievement of certain financial targets by Sopris Systems LLC.
• 5 The Board of Directors recommended a final dividend of Rs 8 (800% on par value of Rs 1/·) per equity share for the financial year ended March 31, 2019. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company.
• 6 The Register of Members and Share Transfer Books will remain closed from Thursday, August 1, 2019 to Wednesday, August 7, 2019 (both days inclusive). The Annual General Meeting has been scheduled to be held on August 7, 2019.
• 7 As the quarter and year end figures are taken from the source and rounded to the nearest digits, the figures reported for the previous quarters might not always add upto the year figures reported in this statement.
• 8 EPS for quarterly periods is not annualised.
• 9 The consolidated segment wise revenue and results are as follows ·

9 The consolidated segment wise revenue and results are as follows ·					{" in lakhs)
Particulars		Quarter ended	Year ended
	March 31,2019	December 31,2018	March 31,2018	March 31,2019	March 31,2018
	(Refer Note 2)	(Unaudited)	(Refer Note 2)	{Audited)	(Audited)
1. Segment revenue
a. India	51,762	53,875	38,193	179,441	148,943
b. Other than India	32,307	30,952	24,849	119,020	98,608
Total	84,069	84,827	63,042	298,461	247,551
Less: Inter segment revenue	(514)	(431)	(462)	(2,371)	(2,157)
Revenue from operations	83,555	84,396	62,580	296,090	245,394
2. Segment results
a. India	1,503	1,528	1,427	4,862	3,978
b. Other than India	6,607	7,246	5,319	27,560	20,819
Total	8,110	8,TT4	6,746	32,422	24,797
Less: Finance costs	(71)	(106)	(98)	(339)	(481)
Add: Unallocable income net of unallocable expenditure	1,080	437	498	2,590	1,606
3. Profit before tax and exceptional item	9,119	9,105	7,146	34,673	25,922
Exceptional item
- Interest Income on income tax refund	91			276	115
4. Profit before tax	9,210	9,105	7,146	34,949	26,037

	(~ in lakhs)
Particulars	March 31,2019	March 31,2018
5. Segment assets
a. India	50,377	46,939
b. Other than India	82,795	61,215
c. Unallocable	19,636	15,087
Total Assets	152,808	123,241
6. Segment liabilities
a. India	52,854	38,674
b. Other than India	17,302	11,865
c. Unallocable	5,826	7,375
Total Liabilities	75,982	57,914

Place : Mumbai Date : May 30, 2019

•

Sonata Software - Consolidated FY 18-19 PAT at" 249.3 Crores; 29% YoY growth, Board has recommended final dividend of 800% giving total dividend for year at 1,275% at its meeting held today.

Mumbai, May 30, 2019

Sonata Software, a global IT services and technology solutions company, today reported its audited financial results for its 4th quarter and year ended 31'1 March 2019.

	31-Mar-19	31-Dec-18	QaQ	31-Mar-18	YoY	31-Mar-19	31-Mar-18	YoY
International ITServices	304.1	284.0	7%	241.8	26%	1,120.5	928.5	21%
Domestic- Products & Services	536.6	563.2	-5%	388.7	38%	1,862.8	1,546.8	20%
Consolidated	835.5	844.0	-1%	62S.8	34%	2,960.9	2,453.9	21%
EBITDA
International IT Services	75.8	76.0		59.8	27%	292.0	219.1	33%
Domestic- Products & Services	21.2	19.5	9%	15.8	35%	75.1	60.4	24%
Consolidated	96.8	95.1	2%	75.4	28%	365.6	277.6	32%
International IT Services	52.5	52.1	1%	45.1	16%	203.0	156.7	30%
Domestic- Products & Services	12.9	12.0	7%	9.7	33%	46.3	35.8	30%
Consoli dated	65.4	64.1	2%	54.8	19%	249.3	192.5	29%

Speaking on the results Mr. Srikar Reddy, Managing Director & CEO of the Company said:

"We have been able to post a robust YoY 21% topline and 29% PAT growth as we remain focused on our longterm goal to be digital transformation partners of choice for our customers while we deliver world-class services through our unique Platformation™ methodology. In line with our above strategy and ensuring we monetise the strong growth in the Microsoft technology-led digital transformation opportunity, we made significant investments inorganically by the acquisition of Scalable Data Systems in Australia and Sopris Systems in US. We also made a strategic investment in real time retail data platform Retail lOX that will enhance our retail and consumer goods platform story.

We continued to make significant investments in new technologies like Robotic Process Automation, Artificial Intelligence, Machine Learning and Platform Engineering for the Cloud, that are aligned to our Platformation ™ concept of digital transformation, besides making investments in new t alent globally, both organically and inorganically.

Over all we believe it has been a satisfying year qualitatively and quantitatively and has created a much stronger platform for growth.

www .sonata-software.com Sonata Software Limited

Performance Highlights for the quarter:

• Consolidated:

• ► Revenues at, 835.5 Crores;
• ► EBITDA at, 96.8 Crores : growth of 2% QoQ;
• ► PAT at, 65.4 Crores: growth of 2% QoQ;
• ► Cash and equivalents of approximately, 321 Crores (net of borrowings).

• International IT Services:

• ► Revenues at 'l.' 304.1 crores;
• ► EBITDA at 'l.' 75.8 Crores ;
• ► PAT at, 52.5 Crores;
• ► Addition of 3 new customers.

• Domestic Products& Services :

• ► Revenues at, 536.6 crores;
• ► EBITDA at, 21.2 Crores: growth of 9% QoQ;
• ► PAT at, 12.9 Crores: growth of 7% QoQ;

About Sonata Software

Sonata Software is a global IT solutions firm focused on catalysing business transformation initiatives of its clients through deep domain knowledge, technology expertise and customer commitment. The company delivers strategic technology solutions for Travel, Retail & Distribution and Software Product companies to drive enhanced customer engagement, operations efficiency and return on IT investments. Sonata brings its own proprietary platforms, products and services in digital technology areas such as Omni-channel commerce, Mobility, Analytics, Cloud and ERP to enable speed and reliability of IT led innovation. A trusted long-term service provider to Fortune 500 companies across both the software product development and enterprise business segments, Sonata seeks to add differentiated value to leadership to those who want to make an impact on their businesses, with IT.

For further information, please contact:

Nandita Venkatesh Sonata Software Limited CIN- L72200MH1994PLC082110 A.P.S. Trust Building, Bull Temple Road, N.R. Colony Bangalore 560019, India Tel: +9180 67781999 nandita.v@sonata-software.com

www.sonata-software.com Sonata Software Limited

' . I

SONATA SOFTWARE LIMITED 30th May, 2019

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Mumbai Kind Attn: Manager, Listing Department Email Id: neaps@nse.co.in Stock Code - SONATSOFTW

BSE Limited P.J. Towers, Dalal Street Mumbai Kind Attn: Manager, Listing Department Email Id: listing.centre@bseindia.com Stock Code - 532221

Dear Sirs,

SUB: Declaration on Independent Audit Reports with unmodified opinion pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

• --- - - -- - - ------------- - - - - - --- - - - - ---------..- -----~--.--------------- ----------

This is to confirm that Deloitte Haskins & Sells, LLP, {FRN -117366W), Statutory Auditors of the Company, have issued Independent Audit Reports with unmodified opinion on the Standalone and Consolidated financial results for the year ended March 31, 2019.

This declaration is provided pursuant to Regulation 33 (3) (d) SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kindly take the same on record.

Thanking you,

For Sonata Software Limited

Prasanna Oke Chief Financial Officer