Mumbai, 12th May, 2021 : 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 2021.
Speaking on the results, Srikar Reddy Managing Director & CEO of the Company said: The results for the year have shown significant growth quarter on quarter over the year both in revenues and profits across all business operations, geographies, digital services and industry verticals, and indicate that we are now on a path of sustained growth.
This is a clear indication that our overall strategy of building digital enterprises by creating platforms through our unique Platformation methodology is more relevant in the current context with greater investments by enterprises in digitization and automation. We have become a much stronger organization in the quality of clients, relationships, and internal investments, in creating world class competencies aligned to Platformationa cross platform engineering, cloud transformation, data analytics and Microsoft Dynamics. We specifically would like to mention the GBW investment we made which is focused on delivering platform based CX (customer experience) which continues to show promise with addition of some marquee clients and adds differentiation to our digital offering.
With clear visibility and growing long term business opportunity, we are focused now on investing for growth, in talent acquisition across the world, building IP and competency development, investing in sustained brand building.
We are also focused currently especially in India to ensure the safety and health of all Sonatians. The company has taken a slew of measures aimed at supporting people like free vaccinations, tie-up with Covid centers, access to medical attention and procurement of oxygen concentrators.
Performance Highlights for the quarter:
Ø Revenues at Rs1075.7crores;
Ø EBITDA at Rs122 crores; QoQ growth of 7%
Ø PAT at Rs83.1 crores; QoQ growth of 54%
Ø DSO days improved from 47 days to 43 days
Ø Cash and equivalents of approximately Rs648Crores (net of borrowings).
- International IT Services:
Ø Revenues at Rs319 crores; QoQ growth of 6%
Ø Revenue in USD at 43.8 Million, QoQ revenue growth of 7.0% in USD terms and constant currency growth of 6.2%.
Ø Growth across all geographies (USA 5.3%, Europe 4.5%, Rest of World 13.1% ) .
Ø EBITDA atRs 90.5crores; QoQ growth of 4%
Ø PAT at Rs60.5crores; QoQ growth of 46%
Ø Addition of 10 new customers.
Ø Overall strategy of creating digital enterprises by creating platform through our unique Platformation methodology are yielding results.
Ø Strong growth from digital based competencies like Managed cloud services and Digital Platformation Services (Microsoft & Open source) and focused verticals like ISV, Retail (Essential), Distribution and Manufacturing and Commodity Business & Service Industry.
Ø Strong cash and liquidity positions maintained. Improvement in DSO to 36 days.
Ø Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new
- Domestic Products & Services:
Ø Revenues at Rs 761.5crores;
Ø DSO days improved from 57 days to 49 days
Ø EBITDA at Rs31.8 crores; QoQ growth of 16%
Ø PAT at Rs22.6 crores; QoQ growth of 83%