Sonata Software Results – International Revenue in $ grew by 8.6% QoQ, and Domestic Gross Contribution grew by 2.9% QoQ.

 

Consolidated FY’23 PAT grew by 20% YoY. Delivered Q4’2023 PAT of Rs 113.8 cr (Normalized PAT after one time M&A expenses of Rs 126.8 cr). The Board recommends a final dividend of Rs 8.75 per share (FY’23 dividend Rs 15.75 per share).

15 May, 2023 : Sonata Software, a global IT services and technology solutions company, has reported its audited financial results for its 4^th quarter and year ended 31^st March 2023.

1. International IT Services includes results of Quant Systems Inc. w.e.f. 10^th March 2023 being the date of completion of acquisition.
2. The PAT number includes one-time acquisition cost (net of taxes) of Rs 13 crores. The normalized PAT for Q4 2023 was Rs 126.8 crores.

Speaking on the quarterly results Samir Dhir, MD & CEO of the Company said, “We are excited to report yet another quarter of Industry-leading growth. Our Rupee Revenue for Q4 FY’23 grew by 9% QoQ (8.6% in Dollar terms). Full-year rupee Revenue grew by 29%. (18.1 % in USD terms). Consolidated PAT for FY’23 grew by 20% YoY. Our modernization-driven solutions enabled three large deal wins, including our

largest-ever deal win of $160M. In addition, we completed the acquisition of Quant Systems in the quarter to strengthen our recently announced incubating BFSI and Healthcare verticals”.

Speaking on the results Sujit Mohanty, MD & CEO of Sonata Information Technology Limited said,         

“Our domestic products and services division had an outstanding year of financial performance. Our Gross Contribution grew by 2.9% QoQ and 29% YoY on full year basis. Our FY’23 PAT grew by 39% YoY. We are seeing the positive results of our focus on multi-year annuity enterprise sales and will continue to prioritize enterprise clients to drive further growth.”

Performance Highlights for the quarter:                                                                                              

• Consolidated:
• Revenues at Rs 1,913.5 crores;
• EBITDA at Rs 176.7 crores; QoQ growth of 2%
• PAT at Rs 113.8 crores;
• Net Cash and equivalents of approximately Rs 451 Crores (net of borrowings).

 

• International IT Services:
• Revenues at Rs 533.5 crores; QoQ growth of 9%
• Revenue in USD at 65.8 Million, Revenue growth of QoQ of 8.6% & YoY 18.1% in USD terms,
• EBITDA at Rs 123.5 crores;
• PAT at Rs 74.8 crores;
• Addition of 17 new customers
• International services DSO for FY 23 is 45 days.
• Overall strategy of delivering outcome-based Modernization services using our Domain-Led and technology-based Modernization anchored by GTMs executed through ‘Platformation^’
• Strong growth from digital based competencies like Managed cloud services and Digital Platformation Services (Microsoft & Open source) and focused verticals like TMT, Healthcare & Life Sciences, Manufacturing, Retail / CPG/ TTH, BFSI and Emerging.
• Bayer choses Sonata as top SI partner for its new Agri-Food Cloud solution. Sonata is now global partner for Sinequa.
• Our pipeline continues to be healthy and strong through multiple new digital wins from existing and new customers.

 

• Domestic Products & Services:
• Revenues at Rs 1,383.4 crores;
• EBITDA at Rs 54 crores; QoQ growth of 4%
• PAT at Rs 39 crores; QoQ growth of 8%
• DSO days for FY 23 is 37 days