Sonata Software Ltd. — Interim / Quarterly Report 2022

Jul 25, 2022

25th July, 2022

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Mumbai Kind Attn: Manager, Listing Department

BSE Limited P.J. Towers, Dalal Street Mumbai Kind Attn: Manager, Listing Department

Stock Code – SONATSOFTW

Stock Code - 532221

Dear Sirs,

SUB: Outcome of Board Meeting

REF: Disclosures under Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

We wish to inform you that at the meeting of the Board of Directors of the Company held today i.e. 25th July, 2022, the Board, inter alia, has-

a) Considered and approved the Unaudited Financial Results of the Company (standalone and consolidated) for quarter ended 30th June, 2022 at its meeting held today i.e. 25th July, 2022.

In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose a copy of the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2022 together with Limited Review Report from our Statutory Auditors. A copy of the press release is enclosed for your reference.

b) The Board of Directors of the Company in the meeting held today i.e. 25th July, 2022 has accorded the in principle approval for merger of subsidiary of Sonata Software North America, Inc. viz. Sopris Systems LLC, with Sonata Software North America, Inc., wholly owned subsidiary of the Company. The information required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 has been attached herewith as Annexure I.

c) The Board considered, approved and recommended a bonus issue of 1 (one) equity share for every 3 (three) equity shares held by the Shareholders of the Company as on the record date. The bonus issue of equity shares will be subject to approval by the Shareholders through Postal Ballot, and any other applicable statutory and regulatory approvals. The Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted. The details pertaining to the Bonus issue of equity shares as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is provided in Annexure II.

The meeting commenced at 11:30 am and concluded at 04:05 p.m. Also note that the aforesaid information will be available on our website www.sonata-software.com.

This is for your information and records. Thanking you,

Yours faithfully, For Sonata Software Limited Mangal Kulkarni Company Secretary, Compliance Officer and Head Legal MANGAL KRISHNARAO KULKARNI Digitally signed by MANGAL KRISHNARAO KULKARNI Date: 2022.07.25 16:10:15 +05'30'

Encl: As above

ANNEXURE I

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sl. No.	Particulars in respect of the Event	Details/Information of the Event
1.	Name of the entity forming part of the	Sopris Systems LLC, is a US based Corporation,
	merger, details in brief such as size,	wholly-owned subsidiary of Sonata Software North
	turnover etc.	America, Inc.
		Turnover: US \$ 2,162,298 (as at 31st March, 2022)
2.	Whether the transaction would fall within	Not applicable
	related party transaction(s)? If yes,
	whether the same is done at "arm's
	length"
3.	Industry/area of business of the entity	Information Technology and Computer services
	being merged	activities.
4.	Rationale for merger	For operational convenience in the US.
5.	In case of cash consideration – amount or	Not applicable. It is proposed to merge Sopris
	otherwise share exchange ratio	Systems LLC with Sonata Software North America,
		Inc. a wholly owned subsidiary of the Company.
6.	Brief details of change in shareholding	There will be no change in shareholding pattern of
	pattern (if any) of listed entity	Sonata Software Limited.

ANNEXURE -II Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sl. No.	Particulars	Disclosure
1.	Type of securities proposed to be issued (viz. equity shares, convertibles etc.)	Equity Shares
2.	Type of issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified institutions placement, preferential allotment etc.)	Bonus Issue
3.	Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately)	35,053,102
4.	Whether bonus is out of free reserves created out of profits or share premium account	It will be from Share premium account
5.	Bonus ratio	1:3 (1 equity share for every 3 equity shares held by the Shareholders of the Company as on the record date)
6.	Details of share capital - pre and post bonus issue	Pre-Issue – 105,159,306 Post Issue – 140,212,408
7.	Free reserves and/ or share premium required for implementing the bonus issue	INR - 35,053,102, will be required from share premium account for implementing the bonus issue
8.	Free reserves and/ or share premium available for capitalization and the date as on which such balance is available	Security Premium available as on 31st March 2022 – INR 4,496 Lakhs
9.	Whether the aforesaid figures are audited	Yes
10.	Estimated date by which such bonus shares would be credited/dispatched	Within 2 months from the date of Board approval i.e. by 24th September 2022

BSR&Co.LLP

Chartered Accountants

Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor Off Intermediate Ring Road Bengaluru 560 071 India

Telephone +91 80 4682 3000 +91 80 4682 3999 Fax

Limited Review Report on unaudited standalone financial results of Sonata Software Limited for the quarter ended 30 June 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Requlations. 2015

To the Board of Directors of Sonata Software Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Sonata Software Limited ("the Company") for the quarter ended 30 June 2022 ("the Statement").
• 1. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Attention is drawn to the fact that the figures for the three months ended 31 March 2022 as reported in these unaudited standalone financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

• Based on our review conducted as above, nothing has come to our attention that causes us to believe 5. that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

• The standalone financial statements of the Company for the year ended 31 March 2022 have been audited by the predecessor auditor whose report dated 29 April 2022 had expressed an unmodified opinion. The financial information of the Company for the corresponding quarter ended 30 June 2021 has been reviewed by the predecessor auditor whose report dated 04 August 2021 had expressed an unmodified opinion.

$\sim$

Our conclusion is not modified in respect of this matter.

For B S R & Co. LLP Chartered Accountants Firm's Registration No.: 101248W/W-100022

Supreet Sachdev Partner Membership No.: 205385 UDIN: 22205385ANNXNI9936

Bangalore 25 July 2022

SONATA SOFTWARE LIMITED

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

art I	₹ in lakhs, except per share data
	Statement of unaudited standalone financial results for the quarter ended June 30, 2022
		Quarter ended			Year ended
l No.	Particulars	June 30, 2022	March 31, 2022	June 30, 2021	March 31, 2022
		(Unaudited)	(Unaudited) (Refer Note 2)	(Unaudited)	(Audited)
1	Revenue from operations	21,851	19,437	18,886	75,814
$\overline{2}$	Other income	6,660	1,410	4,209	16,424
3	Total Revenue (1 + 2)	28,511	20,847	23,095	92,238
4	Expenses
	(a) Purchases of Stock-in-Trade	2,550	1,795	2,652	9,468
	(b) Employee benefits expense	12,395	11,487	10,089	41,499
	(c) Finance costs	189	196	251	878
	(d) Depreciation and amortization expense	442	437	464	1,755
	(e) Other expenses	2.857	2.822	2,218	10.615
	Total expenses	18,433	16,737	15,674	64,215
5	Profit before tax (3 - 4)	10,078	4,110	7,421	28,023
6	Tax expense
	(1) Current tax	1,293	1,057	1,195	4,197
	(2) Provision for tax relating to prior years	5
7	(3) Deferred tax Profit for the period (5 - 6)	(190) 8,970	(110) 3,163	237 5,989	307 23,519
8	Other comprehensive income
	1 (a) Items that will not be reclassified to profit or (loss)	(265)	(434)	(438)	(933)
	(b) Income tax relating to items that will not be reclassified to profit or (loss)	29	76	84	149
	2 Items that will be reclassified to profit or (loss)
	(a) Exchange differences in translating the financial statements of
	foreign operations	(42)	(17)	27	(14)
	(b) Exchange differences on forward cover	(757)	(150)	(156)	201
	(c) Income tax relating to items that will be reclassified to
	profit or (loss)	88	24	25	(30)
	Total	(947)	(501)	(458)	(627)
9	Total Comprehensive Income for the period $(7 + 8)$	8,023	2,662	5,531	22,892
10	Paid-up equity share capital (Face Value ₹ 1/-)	1,039	1,039	1,039	1.039
11	Other equity (Refer Note 4)	56,136	56,136	51,913	56,136
12	Earnings per equity share (of ₹1/- each) (Refer Note 5)
	(a) Basic	8.63	3.04	5.76	22.63
	(b) Diluted	8.63	3.04	5.76	2262

Notes:

Par

SLN

• 1 The statutory auditors, B S R & Co. LLP have expressed an unmodified review opinion. Amounts for the quarter ended March 31, 2022 and June 30, 2021 were reviewed by predecessor auditors and amounts for the year ended March 31, 2022 were audited by predecessor auditors, Deloitte Haskins & Sells LLP. The information presented above is prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016. These unaudited standalone financial results thereafter have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on July 25, 2022. The above unaudited standalone financial results are filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015 and are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.sonatasoftware.com.
• The figures for the quarter ended March 31, 2022, are balancing figures arrived based on audited results of the full financial year and published year to date unaudited $\overline{2}$ figures for nine months ended December 31, 2021. The predecessor auditors have performed a limited review on the results for the quarter ended March 31, 2022.

The Company prepares standalone and consolidated financial results, and accordingly the Company has availed exemption as per paragraph 4 of Ind AS 108 Operating 3 Segments and has not disclosed segment information in respect of standalone financial results. Segment information has been disclosed in the consolidated financial results.

• $\overline{4}$ The other equity with respect to each quarter and year ended represents balance as per the audited Balance Sheet of the previous year as required by SEBI (Listing and Other Disclosure Requirements) Regulations, 2015.
• $\overline{5}$ EPS for quarterly periods is not annualised.

See accompanying notes to the financial results

• Mr. Samir Dhir, Chief Executive Officer of the Company, has been appointed as an Additional Director and as a Whole-Time Director of the Company by the Board of 6 Directors with effect from May 9, 2022 and approved by the shareholders in the AGM held on June 24, 2022.
• The management has considered the possible effects of the pandemic relating to COVID-19 on the carrying amounts of receivables, investments and other financial $\overline{7}$ assets as at June 30, 2022. In developing the assumptions relating to the recoverability of these assets, the management has considered the global economic conditions prevailing at the date of approval of these financial results and has used internal and external sources of Information including credit reports to the extent determined by it. The eventual outcome of impact of the global health pandemic may be different from those estimated as on the date of approval of these financial results.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS Srikar Palem

Srikar Palem

Beddy

Beddy

Date: 2022.07.25 Reddy 15:01:47 +05'30" P SRIKAR REDDY MANAGING DIRECTOR

22.63 22.62

BSR&Co.LLP

Chartered Accountants

Embassy Golf Links Business Park, Pebble Beach, B Block, 3rd Floor, No. 13/2, Off Intermediate Ring Road, Bengaluru-560 071 India

Telephone: +91 80 4682 3000 + 91 80 4682 3999 Fax:

Limited Review Report on unaudited consolidated financial results of Sonata Software Limited for the quarter ended 30 June 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Requiations, 2015, as amended

To the Board of Directors of Sonata Software Limited

• 1. We have reviewed the accompanying Statement of unaudited 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 quarter ended 30 June 2022 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
• 1. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

• 1. The Statement includes the results of the entities as disclosed in Annexure I to the Statement.
• 1. Attention is drawn to the fact that the figures for the three months ended 31 March 2022 as reported in these unaudited consolidated financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
• Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing $6₁$ has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The consolidated financial statements of the Group for the year ended 31 March 2022 have been audited by the predecessor auditor whose report dated 29 April 2022 had expressed an unmodified opinion. The financial information of the Group for the corresponding quarter ended 30 June 2021 has been reviewed by the predecessor auditor whose report dated 04 August 2021 had expressed an unmodified opinion.

Our conclusion is not modified in respect of this matter.

Registered Office

B S R & Co (a partnership firm with Registration No BA61223) converted into B S R & Co LLP Limited Liability Partnership with LLP Registration No AAB-8181) with effect from October 14, 2013 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco
Center, Western Express Highway, Goregaon (East), Mumbai - 400063

BSR&Co.LLP

1. The Statement includes the interim financial results of 18 subsidiaries (including step-down subsidiaries) which have not been reviewed, whose interim financial results reflects total revenues of Rs. 9,504.92 lakhs, total net profit after tax of Rs. 412.91 lakhs and total comprehensive income of Rs. 452.44 lakhs for the quarter ended 30 June 2022, as considered in the Statement. According to the information and explanations given to us by the Parent's management, these interim financial results are not material to the Group.

Our conclusion is not modified in respect of this matter.

For B S R & Co. LLP

Chartered Accountants Firm's Registration No.: 101248W/W-100022

Supreet Sachdev Partner Membership No.: 205385 UDIN:22205385ANNXRD9043

Bangalore 25 July 2022

B S R & Co. LLP

Annexure I

List of entities included in unaudited consolidated financial results.

Sr. No	Name of component	Relationship
1	Sonata Information Technology Limited	Subsidiary
$\overline{2}$	Sonata Software Solutions Limited	Subsidiary
3	Sonata Software FZ LLC	Subsidiary
4	Sonata Software (Qatar) LLC	Subsidiary
5	Sonata Europe Limited	Subsidiary
6	Sonata Software North America, Inc.	Subsidiary
$\overline{7}$	Scalable Data Systems PTY Ltd	Subsidiary
8	Encore IT Services Solutions Private Limited	Subsidiary
9	Sonata Software GmbH	Subsidiary
10	Sonata Software Intercontinental Limited	Subsidiary
11	Interactive Business Information System, Inc.	Step-down Subsidiary
12	Sopris Systems LLC	Step-down Subsidiary
13	Encore Software Services, Inc.	Step-down Subsidiary
14	Sonata Software Canada Limited	Step-down Subsidiary
15	GAPbuster Limited	Step-down Subsidiary
16	GAPbuster Europe Limited	Step-down Subsidiary
17	GAPbuster Inc.	Step-down Subsidiary
18	Kabushiki Kaisha GAPbuster Japan	Step-down Subsidiary
19	GAPbuster China Co. Limited	Step-down Subsidiary
20	GAPbuster Worldwide Malaysia Sdn Bhd	Step-down Subsidiary
21	GAPbuster Worldwide Pty Ltd	Step-down Subsidiary

B S R & Co. LLP

Sr. No	Name of component	Relationship
22	Sonata Latin America S. DE R.L. DE C.V.	Step-down Subsidiary

Ď

SONATA SOFTWARE LIMITED

SONATA SOFTWARE LIMITED
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 - L72200M

Part I	www.sonata-sonware.com	TUL-000-Z0001J07.IIIVESL0I			₹ in lakhs, except per share data
	Statement of unaudited consolidated financial results for the quarter ended June 30, 2022
SINo.	Particulars	Quarter ended			Year ended
		June 30, 2022	March 31, 2022	June 30, 2021	March 31, 2022
		(Unaudited)	(Unaudited) (Refer Note 6)	(Unaudited)	(Audited)
$\mathbf{1}$	Revenue from operations	177,886	146,363	126,854	555,337
$\overline{2}$	Other income	1,819	4,503	2,815	10,198
3	Total Revenue (1 + 2)	179,705	150,866	129,669	565,535
$\overline{4}$	Expenses
	(a) Purchases of Stock-in-Trade	132,070	103,607	93,461 16,775	402,307 73,702
	(b) Employee benefits expense (c) Finance costs	21,428 373	20,532 423	442	1,805
	(d) Depreciation and amortization expense	1,297	1,307	989	4,732
	(e) Other expenses	10,224	11,414	6,520	32,953
	Total expenses	165,392	137,283	118,187	515,499
5	Profit before tax (3 - 4)	14,313	13,583	11,482	50,036
6	Tax expense
	(1) Current tax	3,731	4,692	3,131	14,547
	(2) Provision for tax relating to prior years (2) Deferred tax	20 (214)	(1, 199)	(322)	(2, 154)
$\overline{I}$	Profit for the period (5 - 6)	10,776	10,090	8,673	37,643
8	Other comprehensive income 1 (a) Items that will not be reclassified to profit or (loss)	(404)	(475)	(526)	(1, 111)
	(b) Income tax relating to items that will not be reclassified
	to profit or (loss)	99	122	129	278
	2 Items that will be reclassified to profit or (loss)
	(a) Exchange differences in translating the financial statements
	of foreign operations	31	570	112	478
	(b) Exchange differences on forward cover	(2, 134)	(144)	(153)	1,166
	(c) Income tax relating to Items that will be reclassified to profit or (loss)	517	(114)	10	(411)
	Total	(1, 891)	(41)	(428)	400
9	Total Comprehensive Income for the period $(7 + 8)$	8,885	10,049	8,245	38,043
	Of the Total Comprehensive Income above, total comprehensive income
	attributable to:
	Owners of the parent	8,885	10,049	8,245	38,043
	Non - controlling interest
		8,885	10,049	8,245	38,043
	Of the Total Comprehensive Income above, Profit for the period attributable to:
	Owners of the parent	10,776	10,090	8,673	37,643
	Non - controlling interest
		10,776	10,090	8,673	37,643
	Of the Total Comprehensive Income above, Other Comprehensive Income
	for the period attributable to:
	Owners of the parent Non - controlling interest	(1,891)	(41)	(428)	400
		(1, 891)	(41)	(428)	400
10	Paid-up equity share capital (Face Value ₹ 1/-)	1,039	1,039	1,039	1,039
11	Other equity (Refer Note 4)	108,881	108,881	89,508	108,881
12	Earnings per equity share (of ₹ 1/- each) (Refer Note 3)
	(a) Basic	10.37	9.71	8.35	36.23
	(b) Diluted	10.37	9.70	8.34	36.21
	See accompanying notes to the consolidated financial results

Notes:

The statutory auditors, B S R & Co. LLP have expressed an unmodified review opinion. Amounts for the quarter ended March 31, 2022 and June 30, 2021 were $\mathbf{1}$ reviewed by predecessor auditors and amounts for the year ended March 31, 2022 were audited by predecessor auditors, Deloitte Haskins & Sells LLP. The information presented above is prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016. These unaudited consolidated financial results thereafter have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on July 25, 2022.

The above unaudited consolidated financial results are filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015 and are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.sonatasoftware.com.

• Unaudited consolidated financial results include financial results of subsidiaries i.e, Sonata Information Technology Limited, Sonata Software North America Inc., $\overline{2}$ Interactive Business Information Systems Inc., Sonata Software GmbH, Sonata Europe Limited, Sonata Software FZ-LLC, Sonata Software (Qatar) LLC, Sonata Australia Pty Ltd (formarly known as Scalable Data Systems Pty Ltd), Sopris Systems LLC, Sonata Software Solutions Limited, GAPbuster China Co. Ltd, GAPbuster Europe Limited, GAPbuster Inc., Gapbuster Limited, GAPbuster Worldwide Malaysia Sdn Bhd, GAPbuster worldwide Pty Limited, Kabushiki Kaisha GAPbuster Japan, Encore Software Services, Inc., Encore IT Services Solutions Private Limited, Sonata Software Intercontinental Limited, Sonata Software Canada Limited and Sonata Latin America S. DE R.L. DE C.V.
• EPS for quarterly periods is not annualised. $\overline{3}$
• The other equity with respect to each quarter and year ended represents balance as per the audited Balance Sheet of the previous year as required by SEBI (Listing $\overline{a}$ and Other Disclosure Requirements) Regulations, 2015.
• 5 During the quarter Sonata Latin America S. de R.L. de C.V. has been incorporated in Mexico as a wholly owned subsidiary of Sonata Software North America with effect from 5th May, 2022.
• The figures for the quarter ended March 31, 2022, are balancing figures arrived based on audited results of the full financial year and published year to date 6 unaudited figures for nine months ended December 31, 2021 respectively. The predecessor auditors have performed a limited review on the results for the quarter ended March 31, 2022.
• $\overline{7}$ Mr. Samir Dhir, Chief Executive Officer of the Company, has been appointed as an Additional Director and as a Whole-Time Director of the Company by the Board of Directors with effect from May 9, 2022 and approved by the shareholders in the AGM held on June 24, 2022.
• 8 The management has considered the possible effects of the pandemic relating to COVID-19 on the carrying amounts of receivables, investments and other financial assets as at June 30, 2022. In developing the assumptions relating to the recoverability of these assets, the management has considered the global economic conditions prevailing at the date of approval of these financial results and has used internal and external sources of Information including credit reports to the extent determined by it. The eventual outcome of impact of the global health pandemic may be different from those estimated as on the date of approval of these financial results. $\sqrt{7}$ in lakhs)
• $\mathsf{q}$ The consolidated segment wise revenue and results are as follows :

Particulars	Quarter ended			Year ended
	June 30, 2022	March 31, 2022	June 30, 2021	March 31, 2022
	(Unaudited)	(Unaudited) (Refer Note 6)	(Unaudited)	(Audited)
1. Segment revenue
a. India	111,782	94,428	76,756	352,234
b. Other than India	66,160	52,060	50,259	203,838
Total	177,942	146,488	127,015	556,072
Less : Inter segment revenue	(56)	(125)	(161)	(735)
Revenue from operations	177,886	146,363	126,854	555,337
2. Segment results
Profit before tax and interest
a. India	4,720	4,156	3,291	14,113
b. Other than India	8,849	6,181	6,141	28,981
Total	13,569	10,337	9,432	43,094
Less: Finance costs	(373)	(423)	(442)	(1,805)
Add: Unallocable income net of unallocable expenditure	1,117	3,669	2,492	8,747
3. Profit before tax	14,313	13,583	11,482	50,036

			(₹ in lakhs)
Particulars	June 30, 2022	March 31, 2022	June 30, 2021
	(Unaudited)	(Audited)	(Unaudited)
4. Segment assets
la. India	128,588	106,325	82,299
b. Other than India	123,100	121,223	118,158
c. Unallocable	20,226	27,971	25,269
Total Assets	271,914	255,519	225,726
5. Segment liabilities
la. India	114,189	92,288	78,763
b. Other than India	44,820	47,484	42,221
lc. Unallocable	7,608	5,827	5,938
Total Liabilities	166,617	145,599	126,922
6. Capital Employed (4-5)	105,297	109,920	98,804

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS Srikar Palem Digitally signed by Srikar Date: 2022.07.25 Reddy 15:01:02 +05'30 P SRIKAR REDDY MANAGING DIRECTOR

Sonata Software - Consolidated Q1 FY 22-23 PAT at ₹ 107.8 Crores, YoY growth of 24% announces one bonus share for every three equity shares held. Bengaluru, July 25, 2022

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

					in ₹ Crores
	For the Quarter ended
Description	30-Jun-22	31-Mar-22	QoQ	30-Jun-21	YoY
Revenues
International IT Services	436.8	413.9	6%	323.9	35%
Domestic- Products & Services	1,343.1	1,051.0	28%	946.2	42%
Consolidated	1,778.9	1,463.6	22%	1,268.5	40%
EBITDA
International IT Services	116.1	113.8	2%	97.1	20%
Domestic- Products & Services	44.0	39.5	11%	32.4	36%
Consolidated	159.8	153.1	4%	129.1	24%
PAT
International IT Services	76.0	72.4	5%	63.7	19%
Domestic- Products & Services	31.8	28.5	12%	23.0	38%
Consolidated	107.8	100.9	7%	86.7	24%

Speaking on the results Mr. 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 PlatformationTM 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.

Performance Highlights for the quarter:

• Consolidated:
• Revenues at ₹ 1778.9 crores; YoY growth of 40%
• EBITDA at ₹ 159.8 crores; YoY growth of 24%
• PAT at ₹ 107.8 crores; YoY growth of 24%
• DSO days is at 40 days.
• Cash and equivalents of approximately ₹ 508.2 Crores (net of borrowings).

• International IT Services:

• Revenues at ₹ 436.8 crores; YoY growth of 35%
• Revenue in USD at 56.8 Million, YoY revenue growth of 27.7% in USD terms
• Sonata's approach to Digitizing business using Platformation™
• EBITDA at ₹ 116.1 crores; YoY growth of 20%
• PAT at ₹ 76 crores; YoY growth of 19%
• Addition of 10 new customers.
• Strong cash and liquidity positions maintained. DSO is at 41 days.
• Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers.
• Domestic Products & Services:
• Revenues at ₹ 1343.1 crores; YoY growth of 42%
• DSO days at 38 days.
• EBITDA at ₹ 44.0 crores; YoY growth of 36%
• PAT at ₹ 31.8 crores; YoY growth of 38%

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 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.

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: +91 80 67781999 nandita.v@sonata-software.com