Sonata Software - 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 ₹ 113.8 cr (Normalized PAT after one time M&A expenses of ₹126.8 cr).The Board recommends a final dividend of ₹ 8.75 per share (FY'23 dividend ₹ 15.75 per share).

BANGALORE,India,May 15,2023 -- 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 2023.

in ₹Crores

Description

For the Quarter ended

For the Year ended

31-Mar-23

31-Dec-22

QoQ

31-Mar-22

YoY

31-Mar-23

31-Mar-22

YoY

Revenues

International IT Services

533.5

489.6

9%

413.9

29%

1,920.4

1,493.8

29%

Domestic- Products & Services

1,383.4

1,773.6

-22%

1,051.0

32%

5,540.0

4,066.9

36%

Consolidated

1,913.5

2,260.8

-15%

1,463.6

31%

7,449.1

5,553.4

34%

EBITDA

International IT Services

123.5

123.2

0%

113.8

9%

482.0

425.0

13%

Domestic- Products & Services

54.0

51.7

4%

39.5

37%

196.8

142.4

38%

Consolidated

176.7

172.8

2%

153.1

15%

675.0

565.7

19%

PAT

International IT Services 1

74.8

81.3

-8%

72.4

3%

310.7

274.5

13%

Domestic- Products & Services

39.0

36.3

8%

28.5

37%

141.2

101.8

39%

Consolidated 2

113.8

117.6

-3%

100.9

13%

451.9

376.4

20%

Notes:

1. International IT Services includes results of Quant Systems Inc. w.e.f. 10th March 2023 being the date of completion of acquisition.

2. The PAT number includes one-time acquisition cost (net of taxes) of ₹ 13 crores. The normalized PAT for Q4 2023 was ₹ 126.8 crores.

Speaking on the quarterly results Mr. 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 Mr. 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 ₹ 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 ₹ 123.5 crores;

PAT at ₹ 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 PlatformationTM

Strong growth from digital based competencies like Managed cloud services and Digital PlatformationTM 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 ₹ 1,383.4 crores;

EBITDA at ₹ 54 crores; QoQ growth of 4%

PAT at ₹ 39 crores; QoQ growth of 8%

DSO days for FY 23 is 37 days

About Sonata Software

For further information,please contact:

Nandita Venkatesh

Sonata Software Limited

CIN- L72200MH1994PLC082110

A.P.S. Trust Building,

Bull Temple Road,N.R. Colony

Bangalore 560004,India

Tel: +91 80 67781996

nandita.v@sonata-software.com