Sonata Software Ltd. — Interim / Quarterly Report 2024

Jul 31, 2024

31° July, 2024

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: OUTCOME OF BOARD MEETING REF: DISCLOSURE UNDER REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("LISTING REGULATIONS")

We hereby inform that at the meeting of Board of Directors of Sonata Software Limited (the "Company") held today i.e. 31% July, 2024, the Board, inter-alia, has considered and approved the Unaudited Financial Results of the Company (standalone and consolidated) for the quarter ended 30" June, 2024.

Interms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose a copy of the Unaudited Financial Results for the quarter ended, 30" June, 2024 together with the Limited Review Report from Statutory Auditors of the Company. A copy of the press release is also enclosed for your reference.

The meeting commenced at 4:00 p.m. and concluded at 4:45 p.m. (IST). 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

Mangal Kulkarni Company Secretary, Compliance Officer and Head Legal

Encl.: As above

Sonata Software Limited - SSL Website: www.sonata-software.com Registered Office: 208, T V Industrial Estate, 2" Floor, S K Ahire Marg, Worli, Mumbai — 400 030 email: info@sonata-software.com Corporate Office: Tower-A, Sonata Towers, Global Village (Sattva Global City), RVCE Post, Kengeri Hobli, Mysore Road, Bengaluru - 560059, India Tel: +91 80 6778 1000 | CIN: L72200MH1994PLC082110

VY

Chartered Accountants No. 13/2, off Intermediate Ring Road Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999

Limited Review Report on unaudited standalone financial results of Sonata Software Limited for the quarter ended 30 June 2024 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

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 (hereinafter referred to as "the Company") for the quarter ended 30 June 2024 ('the Statement') in which, are included interim financial results of 6 branches and the employee welfare trust.
• This Statement, which is the responsibility of the Company's management and approved by its 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, as amended ('Listing Regulations'). Our responsibility is to issue a report on the Statement based on our review.
• 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.
• Attention is drawn to the fact that the figures for the three months ended 31 March 2024 as reported in the Statement 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.

Registered Office

BSR&Co. LLP

Limited Review Report (Continued)

Sonata Software Limited

1. Based on our review conducted as above, nothing 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.

ForBSR&Co. LLP

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

Ay

Amrit Bhansali Partner Bangalore Membership No.: 065155 31 July 2024 UDIN:24065155BKEYOR9619

SONATA SOFTWARE LIMITED

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

[Part ! ® in lakhs, except per share datal

	Registered Office: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030	SONATA SOFTWARE LIMITED
	Corporate Office: Sonata Towers, Global Village, RVCE Post, Mysore Road, Bengaluru - 560 059	CIN - L72200MH1994PLC082110
[Part !	www.sonata-software.com, Tel : +91-080-67781000, investor@sonata-software.com ® in lakhs, except per share datal
	Statement of unaudited standalone financial results for the quarter ended June 30, 2024
SI No.	Particul		Quarter ended		Year ended
9.	Particulars	June 30, 2024 Unaudited, ( )	March 31, 2024 (Unaudited) (Refer note 6)	June 30, 2023 Unaudited, ( )	March 31, 2024 (Audited, ( )
1 2	{Revenue from operations Other income	24,895 425	23,250 4,418	23,487 646	95,030 33,404
3 4	_ Total income (1 + 2) Expenses	25,320	27,668	24,133	128,434
	(a) Purchase of stock-in-trade (traded goods) (b) Changes in inventories of stock-in-trade (c) Employee benefits expense	77 - 17,697	1,507 - 16,470	2,944 (9) 17,025	7,539 - 67,024
	(d) Finance costs (e) Depreciation and amortization expense (f) Other expenses	108 522 3,288	141 550 3,260	122 492 3,115	492 2,113 13,289
5	Total expenses Profit before tax (3 - 4)	21,692 3,628	21,928 5,740	23,689 444	90,457 37,977
6	Tax expense (1) Current tax	1,030	391	57	1,984
	(2) Deferred tax Total tax expense	67 1,097	182 573	16 73	113 2,097
7 8	{Profit for the period (5 - 6) Other comprehensive income	2,531	5,167	371	35,880
	1 Items that will not be reclassified to profit/(loss) (a) Remeasurement of the defined benefit plans (b) Income tax relating to Items that will not be reclassified to profit/(loss)	488 (123)	83 (21)	198 (32)	408 (103)
	2 Items that will be reclassified to profit or (loss) (a) Exchange differences in translating the financial statements of foreign
	operations (b) Fair value changes on derivatives designated as cash flow hedge, net (c) Income tax relating to Items that will be reclassified to profit/(loss)	- 234 (58)	16 134 (37)	18 515 (87)	- 305 (76)
9	Total Total comprehensive income for the period (7 + 8)	541 3,072	175 5,342	612 983	534 36,414
10 11	Paid-up equity share capital (Face Value & 1/-) Other equity (Refer Note 5)	2,776 67,893	2,775 67,893	1,387 53,973	2,775 67,893

Notes:

The standalone financial results 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 relevant amendment rules issued thereafter. 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 31, 2024. The statutory auditors, B S R & Co. LLP have expressed an unmodified review opinion on standalone financial results.

The above unaudited standalone financial results are filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015 as amended from time to time and are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.sonata-software.com.

• The Company also publishes unaudited consolidated financial results in addition to unaudited standalone financial results. In accordance with Ind AS 108 Operating Segments, the Company has disclosed the segment information in the unaudited consolidated financial results.
• Earnings per share (EPS) for quarterly periods are not annualised.
• The Company has allotted 140,212,408 Equity Shares of Re. 1/- each, credited as fully paid as bonus equity shares to the eligible Members of the Company as on the record date of December 12, 2023 in the ratio of 01 (One) new fully paid-up equity share for every 01 (One) existing fully paid-up equity shares (1:1). The EPS for all the periods presented have been adjusted to this effect as required by "Ind AS 33: Earnings per Share".
• The other equity with respect to quarter ended June 30, 2024 and quarter ended March 31, 2024 represents balance as per the audited Balance Sheet of the previous year as required by SEBI (Listing and Other Disclosure Requirements) Regulations, 2015
• The figures for the quarter ended March 31, 2024, are balancing figures arrived based on audited results of the full financial year ended March 31, 2024 and published year to date unaudited figures for nine months ended December 31, 2023. The statutory auditors have performed a limited review on the results for the nine months ended December 31, 2023.

For and on behalf of the Board of Directors

A AWW Dey

Date : July 31, 2024 Managing Director & CEO

Place : Bengaluru Samir bhir

Chartered Accountants No. 13/2, off Intermediate Ring Road Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999

Limited Review Report on unaudited consolidated financial results of Sonata Software Limited for the quarter ended 30 June 2024 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 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 (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 30 June 2024 ("the Statement") in which, are included interim financial results of 10 branches, 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").
• 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 "/nterim 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.
• 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.

• The Statement includes the results of the entities as disclosed in Annexure | to the Statement.
• Attention is drawn to the fact that the figures for the three months ended 31 March 2024 as reported in the Statement 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.

BSR &Co (a pannership firm with Regisiration No BA61223) converled into BS R & Co LLP (a 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco

Limiled Liability Partnership with LLP Registration No. AAB-8181) with effeci fram October 14, 2013 Center Wester Express Highway, Goregaon (Easl), Mumbai - 400063 Page 1 of 4

Limited Review Report (Continued)

Sonata Software Limited

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing 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 Statement includes the interim financial results of 22 subsidiaries which have not been reviewed, whose interim financial results reflect total revenues (before consolidation adjustments) of Rs. 19,659 lakhs, total net profit after tax (before consolidation adjustments) of Rs. 1,703 lakhs and total comprehensive income (before consolidation adjustments) of Rs. 2,188 lakhs for the quarter ended 30 June 2024, 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.

ForBSR &Co. LLP

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

ely

Amrit Bhansali Partner Bangalore Membership No.: 065155 31 July 2024 UDIN:24065155BKEYOS8689

Limited Review Report (Continued) Sonata Software Limited

Annexure |

Ay

List of entities included in unaudited consolidated financial results.

BSR&Co.	LLP
		Limited Review Report (Continued)
Annexure		Sonata Software Limited
	List of entities included in unaudited consolidated financial results.
Sr. No	Name of component	Relationship
1	Sonata Software Limited	Parent
2	Sonata Information Technology Limited	Subsidiary
3	Sonata Software Solutions Limited	Subsidiary
4	Sonata Europe Limited	Subsidiary
5	Sonata Software North America Inc.	Subsidiary
'6	Sonata Australia Pty Ltd (formerly known as "Scalable Subsidiary Data Systems Pty Ltd")
7	Sonata Software (Qatar) LLC	Subsidiary
8	Encore IT Services Solutions Private Limited	Subsidiary
9	Sonata Software GmbH	Subsidiary
10	Sonata Software Intercontinental Limited	Subsidiary
11	Sonata Software Malaysia SDN. BHD.	Susbsidiary
12	Sonata known Software LLC (formerly as Systems merged with LLC Sonata Software North America w.e.f. 19 June 2024)	Sopris 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	Japan known Sonata Software KK (formerly Kabushiki Kaisha GAPbuster Japan)	as Step-down Subsidiary
17	GAPbuster Europe Limited	Step-down Subsidiary
18	GAPbuster Inc.	Step-down Subsidiary

BSR&Co. LLP

Limited Review Report (Continued)

Sonata Software Limited

BSR&Co.	LLP
		Limited Review Report (Continued)
		Sonata Software Limited
19	Sonata Software (Shanghai) Co. Ltd (formerly known Step-down Subsidiary as GAPbuster China Co. Limited)
20	Worldwide Sonata SDN. BHD. Software Malaysia (formerly known as GAPbuster Worldwide Malaysia SDN. BHD.)	Step-down Subsidiary
21	GAPbuster Worldwide Pty Ltd	Step-down Subsidiary
22	Sonata Latin America S. DE R.L. DE C.V,	Step-down Subsidiary
23	Quant Systems Inc.	Step-down Subsidiary
24	Quant Cloud Solutions Private Limited	Step-down Subsidiary
25	Woodshed LLC	Step-down Subsidiary
26	CRC Systems Sociedad Quant Inc Responsabilidad Limitada (CRC LLC)	de Step-down Subsidiary

SONATA SOFTWARE LIMITED Registered Office: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030 Corporate Office: Sonata Towers, Global Village, RVCE Post, Mysore Road, Bengaluru - 560 059 CIN - L72200MH1994PLC082110

		SONATA SOFTWARE LIMITED
	Registered Office: 208, T.V. Industrial Estate, S.K. Ahire Marg, Worli, Mumbai - 400 030 Corporate Office: Sonata Towers, Global Village, RVCE Post, Mysore Road, Bengaluru - 560 059
		CIN - L72200MH1994PLC082110
	www.sonata-software.com, Tel : +91-080-67781000, investor@sonata-software.com % in lakhs, except per share data
[Part I	Statement of unaudited consolidated financial results for the quarter ended June 30, 2024
	SINo. Particulars		Quarter ended		Year ended
		June 30, 2024 (Unaudited)	March 31, 2024 (Unaudited, (Unaudited) (Refer Note 5)	June 30, 2023 (Unaudited)	March 31, 2024 (Audited)
1	Revenue from operations	252,743	219,161	201,553	861,306
2	Other income 3 Total income (1 + 2)	1,887 254,630	5,470 224,631	2,813 204,366	12,555 873,861
4	Expenses (a) Purchase of stock-in-trade (traded goods)	180,566	147,846	134,459	588,887
	(b) Changes in inventories of stock-in-trade (c) Employee benefits expense (d) Finance costs	(1,841) 36,924 2,002	846 33,116 2,157	1,611 32,614 2,083	(6,918) 133,456 8,501
	(e) Depreciation and amortization expense (f) Other expenses	3,327 19,478	3,367 22,941	3,120 15,042	13,193 73,138
	Total expenses 5 Profit before exceptional item and tax (3 - 4)	240,456 14,174	210,273 14,358	188,929 15,437	810,257 63,604
6	Exceptional item (Refer Note 11)
	Changes in fair value of contingent consideration payable	-	-	-	17,466
7 8	Profit before tax (5 - 6) Tax expense	14,174	14,358	15,437	46,138
	(1) Current tax (2) Deferred tax	5,120 (1,509)	3,899 (577)	3,954 (529)	19,234 (3,946)
	Total tax expense 9 Profit for the period (7 - 8)	3,611 10,563	3,322 11,036	3,425 12,012	15,288 30,850
10	Other comprehensive income
	1 Items that will not be reclassified to profit/(loss) (a) Remeasurement of the defined benefit plans	525	(14)	211	256
	(b) Equity instruments through other comprehensive income (c) Income tax relating to Items that will not be reclassified to profit/(loss)	(249) (132)	- 3	- (49)	- (65)
	2 Items that will be reclassified to profit or (loss) (a) Exchange differences in translating the financial statements of foreign
	operations (b) Fair value changes on derivatives designated as cash flow hedge, net	172 659	(308) 322	(181) 1,122	171 669
	(c) Income tax relating to Items that will be reclassified to profit/(loss) Total	(209) 766	(3) -	(220) 883	(211) 820
	11 Total comprehensive income for the period (9 + 10) Of the total comprehensive income above, profit for the period attributable to:	11,329	11,036	12,895	31,670
	Owners of the Company Non - controlling interest	10,563 =	11,036 =	12,012 =	30,850 =
	Of the total comprehensive income above, other comprehensive income for the	10,563	11,036	12,012	30,850
	period attributable to: Owners of the Company Non - controlling interest	766 =	- =	883 =	820 =
	Of the total comprehensive income above, total comprehensive income attributable	766	:	883	820

(a) Basic (in 2) 3.81 3.97 4.33 11.12 (b) Diluted (in 2) 3.80 3.97 432 11.10

11 | Total comprehensive income for the period (9 + 10) 11,329 11,036 12,895 31,670 Of the total comprehensive income above, profit for the period attributable to: Owners of the Company 10,563 11,036 12,012 30,850 Non - controlling interest = = = = 10,563 11,036 12,012 30,850 Of the total comprehensive income above, other comprehensive income for the period attributable to: Owners of the Company 766 - 883 820 Non - controlling interest = = = = 766 : 883 820 Of the total comprehensive income above, total comprehensive income attributable to: Owners of the Company 11,329 11,036 12,895 31,670 Non - controlling interest = = = = 11,329 11,036 12,895 31,670 12 | Paid-up equity share capital (Face Value % 1/-) 2,776 2,775 1,387 2,775 13 |Other equity (Refer Note 6) 137,854 137,854 128,678 137,854 14 | Earnings / (loss) per equity share (of = 1/- each) (Refer Note 3 & 4)

See accompanying notes to the consolidated financial results

Notes:

The consolidated financial results 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 relevant amendment rules issued thereafter. 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 31, 2024. The statutory auditors, BS R & Co. LLP have expressed an unmodified review opinion on the consolidated financial results.

The above unaudited Consolidated financial results are filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015 as amended from time to time and are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.sonata-software.com.

• Unaudited consolidated financial results include financial results of subsidiaries i.e., Sonata Information Technology Limited, Sonata Software North America Inc. (SSNA), Sonata Software GmbH, Sonata Europe Limited (SEL), Sonata Software FZ-LLC (Closed w.e.f. May 19, 2023), Sonata Software (Qatar) LLC, Sonata Australia Pty Ltd, Sonata Software LLC (formerly known as Sopris Systems LLC) (merged with SSNA with effect from May 06, 2024), Sonata Software Solutions Limited, Sonata Software (Shanghai) Co., Ltd (formerly known as GAPbuster China Co. Ltd), GAPbuster Europe Limited (merged with SEL with effect from July 16, 2024), GAPbuster Inc., GAPbuster Limited (merged with SEL with effect from July 16, 2024), Sonata Software Worldwide Malaysia SDN. BHD. (formerly known as GAPbuster Worldwide Malaysia SDN BHD), GAPbuster Worldwide Pty Limited, Sonata Software Japan KK (formerly known as Kabushiki Kaisha GAPbuster Japan), Encore Software Services, Inc., Encore IT Services Solutions Private Limited, Sonata Software Intercontinental Limited, Sonata Software Canada Limited, Sonata Latin America S. DE R.L. DE C.V., Quant Systems Inc., Quant Systems CRC Inc Sociedad De Responsabilidad Limitada (CRC LLC), Quant Cloud Solutions Private Limited, Woodshed LLC, Sonata Software Malaysia SDN. BHD (w.e.f. June 13, 2023) and Sonata Software Solutions, Egypt (w.e.f May 12, Profit after tax 2,531 5,167 371 35,880
• w EPS for quarterly periods are not annualised.
• Sonata Software Limited (Holding Company) allotted 140,212,408 Equity Shares of Re. 1/- each, credited as fully paid as bonus equity shares to the eligible Members of the Holding Company whose names appear in the Register of Members of the Company as on the record date of December 12, 2023 in the ratio of 01 (One) new fully paid-up equity share for every 01 (One) existing fully paid-up equity shares (1:1). The EPS for all the periods presented have been adjusted to this effect as required by "Ind AS 33: Earnings Per Share".
• The figures for the quarter ended March 31, 2024, are balancing figures arrived based on audited results of the full financial year ended March 31, 2024 and published year to date unaudited figures for nine months ended December 31, 2023. The statutory auditors have performed a limited review on the results for the nine months ended December 31, 2023.
• The other equity with respect to each quarter ended June 30, 2024 and March 31, 2024 represents balance as per the audited consolidated Balance Sheet of the previous year as required by SEBI (Listing and Other Disclosure Requirements) Regulations, 2015.
• During the quarter, Sonata Software Solutions has been incorporated in Egypt as a wholly owned subsidiary of Sonata Software Solutions Limited w.e.f. May 12, 2024.
• During the current quarter, Sonata Software LLC (formerly known as Sopris Systems LLC)., a subsidiary of SSNA got merged in the USA with SSNA, wholly-owned subsidiary of Sonata Software Limited effective May 06, 2024. The merger is in the nature of business combination of entity under common control as per Ind AS 103 Business Combinations, accounted as per pooling of inetrest method. GAPbuster Europe Limited and GAPbuster Limited., a subsidiary of SEL got merged in the UK with SEL, wholly-owned subsidiary of Sonata Software Limited effective July 16, 2024. The merger is in the
• 10 nature of business combination of entity under common control as per Ind AS 103 Business Combinations, accounted as per pooling of inetrest method. Unaudited standalone financial results (2 in lakhs)

and Other Disclosure Requirements) Regulations, 2015.
During the quarter, Sonata Software Solutions has been incorporated in Egypt as a wholly owned subsidiary of Sonata Software Solutions Limited w.e.f. May 12, 2024.
During the current quarter, Sonata Software LLC (formerly known as Sopris Systems LLC)., a subsidiary of SSNA got merged in the USA with SSNA, wholly-owned subsidiary of Sonata Software Limited
effective May 06, 2024. The merger is in the nature of business combination of entity under common control as per Ind AS 103 Business Combinations, accounted as per pooling of inetrest method.
GAPbuster Europe Limited and GAPbuster Limited., a subsidiary of SEL got merged in the UK with SEL, wholly-owned subsidiary of Sonata Software Limited effective July 16, 2024. The merger is in the
nature of business combination of entity under common control as per Ind AS 103 Business Combinations, accounted as			per pooling of inetrest method.
Unaudited standalone financial results						(2 in lakhs)
				Quarter ended		Year ended
Particulars	March 31, 2024 June 30, 2024		June 30, 2023	March 31, 2024
			lited) (t	jited) (t	lited) (t	(Audited)
				(Refer Note 5)
Revenue from operations			24,895	23,250	23,487	95,030
Profit before tax			3,628	5,740	444	37,977
The results for the quarter ended June 30, 2024, are available on the Company's website at www.sonata-software.com and also on the website of BSE Limited at www.bseindia.com and National Stock Exchange of India Limited at www.nseindia.com, where the shares of the Company are listed. Sonata Software North America Inc., (SSNA) a wholly owned subsidiary of Sonata Software Limited, acquired 100% stake in the Quant systems inc., (Quant) on March 10, 2023 for a purchase consideration of USD 159 mn (INR 130,348 Lakhs) (net of working capital) including cash consideration of USD 70.70 mn (INR 57,960 Lakhs) and USD 88.30 mn (INR 72,388 Lakhs) of contingent consideration payable over 2 years. During the quarter ended December 31, 2023, the Company has re-measured the fair value of the contingent consideration payable to be USD 105.42 mn (INR 87,719 Lakhs), thereby an increase of USD 17.12 mn (INR 14,244 Lakhs). Similarly, the Company has re-measured the fair value of the contingent consideration payable with respect to an earlier acquisition, which has resulted in the change in fair value by USD 3.87 mn (INR 3,222 Lakhs). The above changes in fair value of contingent consideration payable amounting to USD 20.99 mn (INR 17,466 Lakhs) is owing to better financial performance of the acquired entities and are recorded in the Statement of Profit and Loss during the quarter ended December 31, 2023. The Management has disclosed, the above changes in fair value as an 'exceptional item' in the results for the previous year ended March 31, 2024, considering the significance of the amount and its non-recurring nature. The CEO & MD of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by Ind AS 108, Operating Segments. Information reported to the CODM for the purposes of resource allocation and assessment of segment performance focuses on geographical territory. Accordingly, the reportable segments are "India" and "Other than India". The consolidated segment wise revenue and results are as follows :				(2 in lakhs)
Particulars		Quarter ended		Year ended
	June 30, 2024	March 31, 2024	June 30, 2023	March 31, 2024

• 11 Sonata Software North America Inc., (SSNA) a wholly owned subsidiary of Sonata Software Limited, acquired 100% stake in the Quant systems inc., (Quant) on March 10, 2023 for a purchase consideration of USD 159 mn (INR 130,348 Lakhs) (net of working capital) including cash consideration of USD 70.70 mn (INR 57,960 Lakhs) and USD 88.30 mn (INR 72,388 Lakhs) of contingent consideration payable over 2 years. During the quarter ended December 31, 2023, the Company has re-measured the fair value of the contingent consideration payable to be USD 105.42 mn (INR 87,719 Lakhs), thereby an increase of USD 17.12 mn (INR 14,244 Lakhs). Similarly, the Company has re-measured the fair value of the contingent consideration payable with respect to an earlier acquisition, which has resulted in the change in fair value by USD 3.87 mn (INR 3,222 Lakhs). The above changes in fair value of contingent consideration payable amounting to USD 20.99 mn (INR 17,466 Lakhs) is owing to better financial performance of the acquired entities and are recorded in the Statement of Profit and Loss during the quarter ended December 31, 2023. The Management has disclosed, the above changes in fair value as an 'exceptional item' in the results for the previous year ended March 31, 2024, considering the significance of the amount and its non-recurring nature.
• 12 The CEO & MD of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by Ind AS 108, Operating Segments. Information reported to the CODM for the purposes of resource allocation and assessment of segment performance focuses on geographical territory. Accordingly, the reportable segments are "India" and "Other than India".

effective May 06, 2024. The merger is in the nature of business combination of entity under common control as per Ind AS 103 Business Combinations, accounted as per pooling of inetrest method. GAPbuster Europe Limited and GAPbuster Limited., a subsidiary of SEL got merged in the UK with SEL, wholly-owned subsidiary of Sonata Software Limited effective July 16, 2024. The merger is in the nature of business combination of entity under common control as per Ind AS 103 Business Combinations, accounted as per pooling of inetrest method. Unaudited standalone financial results March 31, 2024 Particulars June 30, 2024 (Refer Note 5) Revenue from operations 24,895 23,250 Profit before tax 3,628 5,740 The results for the quarter ended June 30, 2024, are available on the Company's website at www.sonata-software.com and also on the website of BSE Limited at www.bseindia.com and National Stock Exchange of India Limited at www.nseindia.com, where the shares of the Company are listed. Sonata Software North America Inc., (SSNA) a wholly owned subsidiary of Sonata Software Limited, acquired 100% stake in the Quant systems inc., (Quant) on March 10, 2023 for a purchase consideration of USD 159 mn (INR 130,348 Lakhs) (net of working capital) including cash consideration of USD 70.70 mn (INR 57,960 Lakhs) and USD 88.30 mn (INR 72,388 Lakhs) of contingent consideration payable over 2 years. During the quarter ended December 31, 2023, the Company has re-measured the fair value of the contingent consideration payable to be USD 105.42 mn (INR 87,719 Lakhs), thereby an increase of USD 17.12 mn (INR 14,244 Lakhs). Similarly, the Company has re-measured the fair value of the contingent consideration payable with respect to an earlier acquisition, which has resulted in the change in fair value by USD 3.87 mn (INR 3,222 Lakhs). The above changes in fair value of contingent consideration payable amounting to USD 20.99 mn (INR 17,466 Lakhs) is owing to better financial performance of the acquired entities and are recorded in the Statement of Profit and Loss during the quarter ended December 31, 2023. The Management has disclosed, the above changes in fair value as an 'exceptional item' in the results for the previous year ended March 31, 2024, considering the significance of the amount and its non-recurring nature. The CEO & MD of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by Ind AS 108, Operating Segments. Information reported to the CODM for the purposes of resource allocation and assessment of segment performance focuses on geographical territory. Accordingly, the reportable segments are "India" and "Other than India". The consolidated segment wise revenue and results are as follows : (2 in lakhs) Particulars Quarter ended Year ended March 31, 2024 March 31, 2024 June 30, 2024 June 30, 2023 (Unaudited) (Unaudited) (Unaudited) (Audited) (Refer Note 5) 1. Segment revenue 491,261 162,585 119,223 117,206 a. India 371,844 b. Other than India 91,193 100,133 85,377 253,778 219,356 202,583 863,105 Less : Inter segment revenue (1,035) (1,030) (1,799) (195) Revenue from operations 252,743 219,161 201,553 861,306 2. Segment results Profit before tax, interest, depreciation and amortization 5,501 4,964 4,585 19,733 a. India b. Other than India 13,799 13,764 13,909 59,348 19,300 18,728 18,494 79,081 Less: Depreciation and amortization (3,327) (3,367) (3,120) (13,193) Less: Finance costs (2,002) (2,157) (2,083) (8,501) Add: Unallocable income net of unallocable expenditure 203 1,154 2,146 6,217 3. Profit before exceptional item and tax 14,174 14,358 15,437 63,604 Exceptional item - Changes in fair value of contingent consideration payable 17,466 : : : 14,174 14,358 15,437 46,138 4. Profit before tax The consolidated segment wise assets and liabilities are as follows : (2 in lakhs) March 31, 2024 June 30, 2024 June 30, 2023 Particulars (Audited) (t Jited) Jited) (L 4. Segment assets 182,475 145,582 111,907 a. India 304,562 334,545 303,439 b. Other than India c. Unallocable 35,440 34,785 24,002 522,477 514,912 439,348 Total assets 5. Segment liabilities 167,826 143,509 99,192 a. India 205,357 b. Other than India 172,311 171,079 c. Unallocable 30,098 25,417 25,850 370,235 374,283 296,121 Total liabilities 6. Capital employed (4-5) 152,242 140,629 143,227	During the quarter, Sonata Software Solutions has been incorporated in Egypt as a wholly owned subsidiary of Sonata Software Solutions Limited w.e.f. May 12, 2024. During the current quarter, Sonata Software LLC (formerly known as Sopris Systems LLC)., a subsidiary of SSNA got merged in the USA with SSNA, wholly-owned subsidiary of Sonata Software Limited
	Total
	Total

Particulars
	(t Jited)	(Audited)	Jited) (L
4. Segment assets
a. India	182,475	145,582	111,907
b. Other than India	304,562	334,545	303,439
c. Unallocable	35,440	34,785	24,002
Total assets	522,477	514,912	439,348
5. Segment liabilities
a. India	167,826	143,509	99,192
b. Other than India	172,311	205,357	171,079
c. Unallocable	30,098	25,417	25,850
Total liabilities	370,235	374,283	296,121

For and on behalf of the Board of Directors

^A4 i ( VW Samir Dhir

Managing Director & CEO

Sonata Software: International Services Dollar revenue for Q1'25 of 82.7 Mn grew 1.3% QoQ and EBITDA grew by 1.4%. Domestic business delivered Gross contribution for Q1'25 of 68.5 Cr 5.8% QoQ

Bengaluru, July 31, 2024

Sonata Software [NSE: SONATSOFTW, BSE: 532221], a leader in Modernization Engineering, today reported its unaudited financial results for its Quarter ended June 30, 2024.

					in $\bar{\epsilon}$ Crores
Description	For the Quarter ended
	30-Jun-24	31-Mar-24	QoQ	30-Jun-23	YoY
Revenues
International IT Services	687.8	679.0	1%	633.8	9%
Domestic- Products & Services	1,849.4	1,514.5	22%	1,391.8	33%
Consolidated	2,527.4	2,191.6	15%	2,015.5	25%
EBITDA #
International IT Services	128.8	117.6	9%	133.5	$-3%$
Domestic-Products & Services	47.3	$26.5$ *	79%	44.8	6%
Consolidated	176.2	144.1	22%	178.2	$-1\%$
PAT
International IT Services	65.1	70.3	$-7%$	79.9	$-18%$
Domestic-Products & Services	40.5	40.1	1%	40.2	1%
Consolidated	105.6	110.4	$-4%$	120.1	$-12%$

EBITDA (before other income)

*Includes one-time expense for bad debts

Speaking on the quarterly results Mr. Samir Dhir, MD & CEO of the Company said, "In Q1 25, our international business delivered 1.3% QoQ growth. We won three large deals during the quarter, including a healthcare deal. Our "responsible first" differentiated Harmoni.AI offering is enabling growth for Sonata resulting in new logo wins within the quarter. We remain optimistic about our long-term vision and growth prospects ".

Speaking on the results Mr. Sujit Mohanty, MD & CEO of Sonata Information Technology Limited said, "We continue to make progress and renewed multiple existing client contracts with enhanced contract values, despite industry head winds in ITeS sector. Our consistent focus on SI business is enabling us to deliver better Gross Contribution YoY."

Performance Highlights for the Q1'25:

• Consolidated:

• Revenues for Q1'25 at ₹ 2,527.4 crores; QoQ growth of 15.3%.
• EBITDA for Q1'25 is ₹ 176.2 crores; QoQ growth of 22.2%.
• PAT for Q1'25 stood at ₹ 105.6 Crores; QoQ de-growth of 4.3%.
• Net Cash and equivalents of approximately ₹ 122.9 Crores (net of borrowings).

• International IT Services:

• Revenues for Q1'25 at ₹ 687.8 crores; QoQ growth of 1.3%.
• Revenue for Q1'25 in USD at 82.7 Mn, QoQ growth of 1.3% and YoY growth of 6.9%.
• EBITDA for Q1'25 at ₹ 128.8 crores; QoQ growth of 9.5%.
• PAT for Q1'25 stood at ₹ 65.1 Crores; QoQ de-growth of 7.3%.
• DSO at 45 days (same as Q4'24)
• 14 New Customer added during the quarter.
• Growth from verticals like MS Sell to, HLS and BFSI.
• Our pipeline continues to be healthy with multiple modernization deals both from existing and new customers.

• Domestic Products & Services:

• Revenues for Q1'25 at ₹ 1,849.4 crores; QoQ growth of 22.1%.
• Gross contribution for Q1'25 at ₹ 68.5 Crs; QoQ growth of 5.8%.
• EBITDA for Q1'25 at ₹ 47.3 crores; QoQ growth of 78.7%.
• PAT for Q1'25 at ₹ 40.5 crores; QoQ growth of 0.9%.
• DSO at 35 days (Q4'24 at 36 days)

About Sonata Software

In today's market, there is a unique duality in technology adoption. On one side, extreme focus on cost containment by clients, and on the other, deep motivation to modernize their Digital storefronts to attract more consumers and B2B customers.

As a leading Modernization Engineering company, we aim to deliver modernization-driven hypergrowth for our clients based on the deep differentiation we have created in Modernization Engineering, powered by our Lightening suite and 16-step Platformation™ playbook. In addition, we bring agility and systems thinking to accelerate time to market for our clients.

Headquartered in Bengaluru, India, Sonata has a strong global presence, including key regions US, UK, Europe, APAC, and ANZ. We are a trusted partner of world-leading companies in TMT (Telecom, Media, and Technology), Retail & CPG, Manufacturing, BFSI (Banking, Financial Services and Insurance), and HLS (Healthcare and Lifesciences) space. Our bouquet of Modernization Engineering Services cuts across Cloud, Data, Dynamics, Contact Centers, and around newer technologies like Generative AI, MS Fabric, and other modernization platforms.

For more information, please visithttps://www.sonata-software.com/

Media contact: Vinitha Oommen vinitha.oommen@sonata-software.com