Business
Sonata Software – Consolidated FY 2022 PAT at ₹ 376 Crores; 54% YoY growth; Board has recommended final dividend of ₹ 13 giving total dividend for year at ₹ 21 per share
29 April 2022 : Sonata Software, a global IT services and technology solutions company, today reported its audited financial results for its 4th quarter and year ended 31st March 2022.
P Srikar Reddy
Commenting on the results Mr. Srikar Reddy, Managing Director of the Company said:
The results show that we continue to execute well on our goal of enabling our clients to build world class digital enterprises through our unique ‘Platformation’ methodology.
Over the financial year we have continued to invest in and build world class competencies in platform engineering, cloud transformation, data analytics and Microsoft digital platform and aligning them to ‘Platformation’.
To serve our international clients better we have set up global delivery centers in Canada and Ireland.
Our India business has continued to show robust growth with increasing percentage of cloud and digital infrastructure contracts.
We have a comprehensive approach to our human capital. We have initiated a number of initiatives to improve employee training and development, engagement and retention, building up capacity for future growth through new hires and upgrading of existing capabilities. We have increased our near shore delivery presence for different geographical regions.
We are excited to announce the appointment of Samir Dhir as new CEO of the company. Samir joined us in April 2022 and is based in the USA. Board has appointed Samir as Whole-time Director today w.e.f 9th May 2022. He has a very impressive record of scaling up organizations in international services. In addition to Samir, we have invested significantly in attracting senior talent globally in Marketing, Business Development and Delivery, to be announced shortly and during the current year.
Performance Highlights for the quarter:
- Consolidated:
- Revenues at ₹ 1,463.6 crores;
- EBITDA at ₹ 153.1 crores; QoQ growth of 4%
- PAT at ₹ 100.9 crores; QoQ growth of 3%
- DSO days at 39.
- Cash and equivalents of approximately ₹ 866 Crores (net of borrowings).
- International IT Services:
- Revenues at ₹ 413.9 crores; QoQ growth of 5%
- Revenue in USD at 55.7 Million, QoQ revenue growth of 4.3% in USD terms.
- EBITDA at ₹ 113.8 crores; QoQ growth of 3%
- PAT at ₹ 72.4 crores; QoQ growth of 2%
- Addition of 12 new customers.
- International services DSO improved from 43 days to 40 days.
- Overall strategy of creating digital enterprises by creating platform through our unique PlatformationTM methodology are yielding results.
- Strong growth from digital based competencies like Managed cloud services and Digital PlatformationTM Services (Microsoft & Open source) and focused verticals like ISV, Retail (Essential), Distribution and Manufacturing and Commodity Business & Service Industry.
- Strong cash and liquidity positions maintained. Improvement in DSO to 40 days from 43 days.
- Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers.
- Domestic Products & Services:
- Revenues at ₹ 1,051.0 crores;
- DSO days at 38 days
- EBITDA at ₹ 39.5 crores; QoQ growth of 7%
- PAT at ₹ 28.5 crores; QoQ growth of 8%