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Sonata Software Ltd. Earnings Release 2023
60845_rns_2023-05-13_0caaae9f-1dae-4b67-b5ce-62cc61161942.pdf
Earnings Release
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13" May, 2023
National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, Mumbai P.J. Towers, Dalal Street, Mumbai Kind Attn: Manager, Listing Department Kind Attn: Manager, Listing Department Stock Code - SONATSOFTW Stock Code - 532221
Dear Sirs / Madam,
Sub: Press Release
We are forwarding herewith a copy of press release dated 13°" May, 2023, titled — "Sonata Software — International Revenue in \$ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ." This information will be hosted on the Company's website, at https://www.sonata-software.com/
Kindly take the same on record.
Thanking you,
Yours faithfully, For Sonata Software Limited
~
Mangal Kulkarni Company Secretary, Compliance Officer and Head Legal
Encl.: as above
Registered Office: 208, T V Industrial estate, 2nd Floor, S K Ahire Marg, Worli, Mumbai — 400 030 email: [email protected] Corporate Office: APS Trust Building, Bull Temple Road, N. R. Colony, Bangalore - 560 004, India Tel: +91 80 6778 1999 | Fax: +91 80 26610972 | CIN: L72200MH1994PLC082110
Sonata Software — International Revenue in \$ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ.
Consolidated FY'23 PAT grew by 20% YoY. Delivered Q4'2023 PAT of % 113.8 cr (Normalized PAT after one time M&A expenses of % 126.8 cr). The Board recommends a final dividend of = 8.75 per share (FY'23 dividend % 15.75 per share).
Bengaluru, 13 May 2023
| WO SONATA |
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|---|---|---|---|---|---|---|---|---|
| Sonata Software — International Revenue in \$ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ. |
SONATA SOFTWARE | |||||||
| Consolidated FY'23 PAT grew by 20% YoY. Delivered Q4'2023 PAT of % 113.8 cr (Normalized PAT after one time M&A expenses of % 126.8 cr). The Board recommends a final dividend of = 8.75 per share (FY'23 dividend % 15.75 per share). Bengaluru, 13 May 2023 |
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| Sonata Software, a global IT services and technology solutions company, today reported its audited financial for its 4° quarter and year ended 31% March 2023. results |
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| aS 96113 | ||||||||
| Description | For the Quarter ended | For the Year ended | ||||||
| 31-Mar-23 | 31-Dec-22 | QoQ | 31-Mar-22 | YoY | 31-Mar-23 | 31-Mar-22 | YoY | |
| International IT Services | 533.5 | 489.6 | 9% | 413.9 | 29% | 1,920.4 | 1,493.8 | 29% |
| Domestic- Products & Services | 1,383.4 | 1,773.6 | -22% | 1,051.0 | 32% | 5,540.0 | 4,066.9 | 36% |
| Consolidated | 1,913.5 | 2,260.8 | -15% | 1,463.6 | 31% | 7,449.1 | 5,553.4 | 34% |
| International IT Services Domestic- Products & Services |
123.5 | 123.2 | 0% | 113.8 | 9% 37% |
482.0 | 425.0 | 13% 38% |
| Consolidated | 54.0 | 51.7 | 4% 2% |
39.5 | 15% | 196.8 | 142.4 | 19% |
| 176.7 | 172.8 | 153.1 | 675.0 | 565.7 | ||||
| AN | ||||||||
| International IT Services * | 74.8 | 81.3 | -8% | 72.4 | 3% | 310.7 | 274.5 | 13% |
| Domestic- Products & Services Consolidated " |
39.0 | 36.3 | 8% | 28.5 | 37% 13% |
141.2 | 101.8 | 39% 20% |
| Notes: International IT Services includes results of Quant Systems Inc. w.e.f. 10tt March 2023 being the date of completion of acquisition. 1. The PAT number includes one-time acquisition cost (net of taxes) of = 13 crores. The normalized PAT for Q4 2023 was % 126.8 2. crores. |
113.8 | 117.6 | -3% | 100.9 | 451.9 | 376.4 | ||
| Speaking on the quarterly results Mr. 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 \$160M. In addition, we completed the acquisition of Quant Systems in the quarter to strengthen our recently announced incubating BFSI and Healthcare verticals". |
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Speaking on the results Mr. Sujit Mohanty, MD & CEO of Sonata Information Technology Limited 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."
Performance Highlights for the quarter:
Consolidated:
- Revenues at 2 1,913.5 crores;
- VVVV VVVVVV V EBITDA at 2 176.7 crores; QoQ growth of 2%
- PAT at % 113.8 crores;
- Net Cash and equivalents of approximately = 451 Crores (net of borrowings).
International IT Services:
- Revenues at 2 533.5 crores; 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 2 123.5 crores;
- PAT at % 74.8 crores;
- Addition of 17 new customers
- International services DSO for FY 23 is 45 days.
- Overall strategy of delivering outcome-based Modernization services using our Domain-Led and technologybased Modernization anchored by GTMs executed through Platformation™
- Vv 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 choses Sonata as top SI partner for its new Agri-Food Cloud solution. Sonata is now 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:
- Revenues at 2 1,383.4 crores;
- EBITDA at % 54 crores; QoQ growth of 4%
- VVVV PAT at 2 39 crores; QoQ growth of 8%
- DSO days for FY 23 is 37 days
About Sonata Software
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 loT, 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.
For further information, please contact: Nandita Venkatesh Sonata Software Limited CIN- L72200MH1994PLC082110
A.P.S. Trust Building, Bull Temple Road, N.R. Colony Bangalore 560004, India Tel: +91 80 67781996 [email protected]