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 /PRNewswire/ -- 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. | ||||||||||||||||
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 ₹ 1,913.5 crores;
- EBITDA at ₹ 176.7 crores; QoQ growth of 2%
- PAT at ₹ 113.8 crores;
- Net Cash and equivalents of approximately ₹ 451 Crores (net of borrowings).
- International IT Services:
- 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
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
[email protected]
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