Sonata Software Ltd. — Investor Presentation 2018

Nov 2, 2018

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2[nd] November, 2018

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 Sir/Madam,

SUB: Investors’ Presentation

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing Investors’ Presentation for the quarter and half year ended 30[th] September, 2018.

The details of above said presentation is also made available at the Company’s website www.sonatasoftware.com.

Kindly take the same on record.

Thanking you,

Yours faithfully,

For Sonata Software Limited

KUNDA Digitally signed by KUNDAN K LAL Date: 2018.11.02 N K LAL 16:41:02 +05'30' Kundan K. Lal Company Secretary and Compliance Officer

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Pioneering with PLATFORMATION

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Platform-based Digital Business Transformation

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Sonata Software Investor Deck Q2 FY 18-19

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Disclaimer

This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events and involves known and unknown risks, uncertainties and other factors. Sonata Software Limited (The “Company”) cannot guarantee that these assumptions and expectations are accurate or exhaustive or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forwardlooking statements. No obligation is assumed by the Company to update the forward-looking statements contained herein.

The information contained in these materials have not been independently verified. None of the Company, its Directors, Promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or omission or otherwise whatsoever in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. The Company undertake no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events, developments or otherwise. Any opinions or information expressed in this presentation are subject to change without notice.

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Sonata Vision

A world class firm that is a benchmark for Catalyzing Business Transformation for our Clients, Fulfilling Employee Aspirations & Caring for our wider Community through Depth of: Thought Leadership Customer Centricity Execution Excellence

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For the Customers IT Partner of choice for transformation thru deeper industry, technology & customer focus

For the Employee A fun & fearless environment where the potential & passion for work flourishes

For the Community CSR initiatives to support IT needs of projects with Social impact

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Sonata - Evolution

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|||
|---|---|
|’86-’92 : Indian Software Product Pioneer|
|’92 – ’12 : 360 IT Service Provider|
|Produced and|
|distributed its own|’13 – ’16 Digital|
|Extends core|
|portfolio of|
|’17+Platformation|
|capability to|
|software products|
|Industry focused|
|services in|
|global digital|
|Software|
|Platform and IP|
|solutions provider|
|Engineering,|
|Led Digital|
|Implementation|
|and Redistribution|

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Sonata Opportunity

Global trends reshaping Business and IT

Digital

• On agenda of 2/3[rd] of Global 2000 Cos CEOs

• • 80% of all incremental IT spend, USD 2.4 Tn market by 2025 on Digital

Platform

• Over 30+ ‘born digital’ platform cos in S&P 500 by 2020.

• Two thirds of all new applications to be Cloud native architected, CD CI enabled in next two years.

• Five fold increase in Cloud Industry platforms by 2018

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Born Digital Platform Unicorns

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OPEN SCALABLE CONNECTED INTELLIGENT

Global Online Retail Top P2P Hospitality Leader Marketplace Top Chinese B2B World Leading Taxi Commerce Marketplace Hailing App

Helping traditional Businesses make the transition to digital & platform

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Sonata strategy : Platformation

Industry specific Focus

Sonata Platform based Technology

• Travel

• Retail

• Ready -Industry Platform IP

• Distribution

• Accelerate - ISV Partner Platform

• ISV

• Custom Platform

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Growth Engines led
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• Vertical

• IP led

• Alliance Led

• Existing Customer Led

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• Digital Infrastructure
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Industry specific Digital Transformation thru Platforms Open , Connected, Scalable, Intelligent Businesses

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Execution – Proprietary Methodology to enable Platforms

Sonata READY

Sonata CUSTOM

Sonata ACCELERATE

• Popular horizontal ISV partner platforms with Sonata adding required functionality

• Sonata engineers custom platforms that deliver unique digital capability and scalability

• End-to-end, industryspecific Sonata digital business platform IP

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RAPID

Dynamics 365

DevOps & Unified Enterprise CloudOps Platform Mobility Platform

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Cortana Intelligence

Omni channel reservation system for a large Australian rail network built on Rezopia platform

Enabled a US-based travel company innovate on membership-based business models

Retail store and e-Comm integration for a US fashion brand using Dynamics retail platform

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Execution – Enabling Digital Platform Infrastructure

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Datacenter Cloud Advanced Enterprise
Modernization Computing Analytics Mobility
Consult Procure Deploy Support
Productivity & Enterprise Security
Collaboration Applications Solutions
Core Enterprise Infrastructure migration Patient care enhancement thru Enhanced business responsiveness
to Cloud Platforms for cost optimization collaborative work tools for doctors thru next gen IT Appliances
Leading Brewery Company Leading Hospital Chain Leading Bank
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Execution - Innovative engagement models

Customer-Specific Center of Excellence

• Governance

• Value Co-creation

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• Leadership role

• SLAs and outcomes

• Strategic metrics • Co-investment in IP

TECHNOLOGY | SKILLS | ASSETS | PROCESSES

Domain Knowledge | Technical Knowledge | Knowledge Management | Charter Innovation | Process & Capability | Reusability

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Sonata is a very important extension of the team and over the years has made a significant contribution to our success in serving our customers better than anyone else in our business sector. Director IT Fortune 500 Travel Co

Decade+ Relationships with marquee Fortune 500 Customers

World Leading Tour Global F&B CPG Operator Leader

Global Retail Leader

Global Software Technology Leader

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Execution - Strong Alliances

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• Gold Partner for 13 Competencies including ERP, Analytics, Cloud, Productivity & Communications.

• 3 Industry specific IP live on Microsoft AppSource – Brick & Click Retail, Modern Distribution and Rezopia. GISV status.

• Select ISV Dev Centre Partner with unique Dynamics Operations & CRM capability

• Country Partner of Year India 2013,15,16. Industry Partner of Year US 2015.

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• Global Silver Partner for SAP Hybris Commerce.

• Travel, Retail and Distribution industry specific solutions capability

• SAP Pinnacle Award 2013, SAP Hybris Most Innovative Partner of Year 2012

• • Extended SAP Cloud for Customer solutions capability

Sonata has been an important partner in our journey for over a decade. The expertise they bring to the table makes them a valuable part of the ecosystem.., its partners, and customers, who seek to get more out of our enterprise-class business solution.

VP – Engineering, Leading Global Software Company

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Execution - Strategic Acquisitions

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Halosys

Rezopia

• Unified Enterprise Mobility Platform

• Cloud based travel ERP SaaS

• Enhanced to wider digital travel platform with Commerce, Mobility & Analytics

• Integrated to Sonata industry specific platform IP to extend their mobile capability

• Sub vertical specific solutions – Tour Operator, Corporate, Rail

• Pre-built industry specific Apps – Shopping, Mass Distribution, Travel Assistant

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IBIS Inc.

• Advanced Supply Chain Management Software for Dynamics

• Extended to Modern Distribution Platform with Commerce and Field Sales Apps

• Dynamics capability & US Geo footprint

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Enablers - Strong People and Processes Foundation

Deeper roles	Regular exposure to newer technologies, evolving business scenarios, and building cross-functional expertise
Customer	Continuous exposure to clients to assess business impact
Impact	of solutions delivered
Freedom	Our flexible working style encourages ideation within
to contribute	broad boundaries
Growth	Early identification, mentoring and nurturing of talent for growth by senior leaders

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SEI CMMI L5, ITIL, ISO 27000 certified processes Agile & DevOps Capable

We need to take a pause and appreciate the drive and determination we have seen from every player on what is a complex effort and delivery. We commend you all for your effort…keep up the good work!

Director – Platform Systems, US Travel Leader

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Enablers – Strong Governance and financials

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• Listed Company ( NSE and BSE)

• Best-in-Class Board and Top management Profiles

• Consistent Track record of Growth, profitability

and Dividend

• RoE and RoCE > 25%

• Revenue Growth at 15%+ CAGR over last 4 years

• PAT growth at 25%+ CAGR for 4 years

• Strong Balance sheet

• Regular Dividend payout

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A responsible corporate citizen - Platforms for social good

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Designed and developed an omnichannel-enabled craft storefront to drive market access for handicraft producers

Built a multipurpose technology platform combining storefront, virtual classrooms, and digital archives

Fostering next-gen business ideas through technology incubation in a top Indian engineering college Partner: CEDI-NITT

Partner: WomenWeave - The Handloom School

Partner: Industree Crafts Foundation

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Financials (Q2 2018-19)

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INR Crores

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Result Snapshot – Q2 FY 19

	₹ in Crores
Description	30-Sep-18 30-Jun-18 30-Sep-17 QoQ YoY 30-Sep-18 30-Sep-17 YoY For the Quarter ended For the half year ended
Revenues
International IT Services Domestic- Products & Services Consolidated	275.3 257.1 234.6 7% 17% 532.4 445.8 19%
	325.9 437.1 199.7 -25% 63% 763.1 627.8 22%
	593.1 688.3 426.9 -14% 39% 1,281.4 1,061.4 21%
EBITDA
International IT Services Domestic- Products & Services Consolidated	73.5 66.7 52.7 10% 40% 140.1 102.6 36%
	17.7 16.7 14.0 6% 26% 34.4 29.1 18%
	90.7 83.1 66.1 9% 37% 173.8 130.6 33%
PAT
International IT Services Domestic- Products & Services Consolidated	51.2 47.2 37.0 9% 38% 98.5 71.5 38%
	11.0 10.4 8.4 6% 31% 21.4 16.9 26%
	62.2 57.6 45.4 8% 37% 119.8 88.4 36%

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Consolidated – Financials

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INR Crores
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Revenue - by Quarter

EBIDTA - by Quarter

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800.0
600.0
766.7
400.0 625.8 688.3 593.1
426.9
200.0
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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75.0
60.0
45.0 71.6 75.4 83.1 90.7
66.1
30.0
15.0
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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PAT - by Quarter

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50.0
40.0
30.0
49.3 54.8 57.6 62.2
45.3
20.0
10.0
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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17

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Consolidated – Human Capital

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3,628 3,459 3,476 3,615 3,836
4,000 157
164 161
163 163
3,500
3,000
2,500
2,000 3,464 3,296 3,313 3,454 3,679
1,500
1,000
500
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
International Service Domestic Products & Service
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Diversity

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120.0%
100.0%
25.0% 24.6% 24.5% 24.6% 25.3%
80.0%
60.0%
40.0% 75.0% 75.4% 75.5% 75.5% 74.7%
20.0%
0.0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
Men Women
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Attrition %

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30%
25%
20% 18% 17%
15% 16% 16%
15%
10%
5%
0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
Head Count Mix
4,000 3,628 3,459 3,476 3,615 3,836
3,500 423
410 414
410 416
3,000
2,500
2,000
1,500 3,218 3,049 3,060 3,201 3,413
1,000
500
-
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
Delivery SG&A Total
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18

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Consolidated – ROCE & RONW

ROCE

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50%
38%
40% 33% 36% 35%
29%
35%
30% 34% 33%
31%
28%
26%
20%
25%
26%
21%
10% 20%
0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
Consolidated Intl Serv Domestic
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RONW

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50%
40%
38%
37%
36%
40%
32%
36%
35%
30% 34%
30% 33%
20%
23% 24% 24% 25% 25%
10%
0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
Consolidated Intl Serv Domestic
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19

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Days Sales Outstanding

Consolidated- Average DSO

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60
53
48
50
45 45
42
40
30
20
Q218 Q318 Q48 Q119 Q219
International Services – Average DSO Domestic – Average DSO
50
46 46
59
55
60
42
40 41 49 48
40
38
40
30
20
20 0
Q218 Q318 Q48 Q119 Q219 Q218 Q318 Q48 Q119 Q219
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International IT services - Financials

Revenue - by Quarter

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300.0
250.0
200.0 275.3
257.1
234.6 240.8 241.8
150.0
100.0
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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Revenue $ mn

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40.0
38.0
36.0
34.0
32.0
39.1
37.4 37.4 37.8
30.0 36.4
28.0
26.0
24.0
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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INR Crores
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EBIDTA - by Quarter

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50.0
40.0
30.0 52.7 56.8 59.8 66.7 73.5
20.0
10.0
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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PAT - by Quarter

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55.0
45.0
35.0
51.2
45.1 47.2
25.0 37.0 40.1
15.0
5.0
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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International IT services – Revenue Mix

Geography

Vertical

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100%
14% 14% 14% 11% 12%
80%
27% 27% 28% 29% 30%
60%
40%
59% 59% 58% 60% 58%
20%
0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
USA Europe incl UK Rest of World
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100%
18% 17% 20% 20% 17%
80%
26% 27% 25% 25% 26%
60%
40% 27% 28% 27% 27% 29%
20%
29% 28% 28% 28% 28%
0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
OPD TTL Retail Distribution Others
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Onsite / Offshore

Revenue Type

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100%
80%
55% 55% 59% 56% 58%
60%
40%
20% 45% 45% 41% 44% 42%
0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
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100%
95% 10% 12% 12% 12% 11%
90%
85% 90% 88% 88% 88% 89%
80%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
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22

Onsite Offshore

T&M FP

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International IT services – Revenue by Competency

Competency

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100%
5% 4% 4% 3% 3%
5% 5% 6% 7%
90% 6%
7% 8% 7% 8% 8%
80% 35%
17% 17% 19% 17% 16%
70% from
5% 4% 5% 4% 4%
60% Digital
50% 19% 20% 19% 18% 20%
40%
17%
18% 19% 18% 17%
30%
20%
23% 23% 24% 26% 25%
10%
0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
ADM Test AX ERP
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IP Lead Revenue

Trend - IP Led Revenues

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18.5%
18.0%
17.5% 18.0%
17.0%
16.5%
16.0% 16.3%
15.5%
15.6%
15.0%
15.2%
14.5%
14.0%
13.5%
Q3'18 Q4'18 Q1'19 Q2'19
% of International Services Revenue
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International IT services – Revenue by Customers

New Customers

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12
10
8
6 12
11
10
4 8
2 4
0
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
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Revenue from Top Customers

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85%
80%
75% 78% 79% 79% 80%
77%
70%
65% 69% 71% 69% 70% 69%
60%
60% 62% 61% 61%
61%
55%
50%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
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Customer Category

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30 25 25 26 2427 2627
25 2021 2022 2121 21 22
20
15
10
5
0
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
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Top 5 Customer Top 10 Customer Top 20 Customer

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of Fortune 500 accounts

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of million dollar clients

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No. of Global 2000 customers

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No. of customers by Geo

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Asia
Middle
East ANZ, 7 5
2
Europe
India
24
16
US
58
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No. of customers by Vertical

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OPD
Others 14 TTL
39 12
Retail
Distribution
47
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25

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Forward Cover Realization Rates/ Utilization

Effective Realization Rates

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100.00
92 91
89
87 87
90.00
82
79 77 76 78
80.00
70.00
60.00 70 69 69 67 67
50.00
40.00
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
US Dollar Euro GBP
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Utilisation

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86.5%
85.9%
85.7%
86.0% 85.6%
85.5%
85.3%
85.5%
85.0%
84.5%
84.0%
83.5%
83.0%
82.5%
82.0%
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19
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Domestic Product & Services - Financials

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INR Crores
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Revenue - by Quarter

EBIDTA - by Quarter

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600.0
400.0
530.3
437.1
388.7
200.0 325.9
199.7
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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20.0
15.0
10.0 14.0 15.4 15.8 16.7 17.7
5.0
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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PAT - by Quarter
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12.0
10.0
8.0
6.0 10.4 11.0
9.2 9.7
8.4
4.0
2.0
-
Q2-18 Q3-18 Q4-18 Q1-19 Q2-19
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Pioneering with PLATFORMATION

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CONTACT US:

INVESTOR ENQUIRIES Karvy Consultants Ltd Tel : 91-80-2662 0003/4/5 Fax : 91-80-2662 1169 info@sonata-software.com

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