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.

Sonata Software Logo

 

































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 ₹ 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

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

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