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).
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:
- International IT Services includes results of Quant Systems Inc. w.e.f. 10th March 2023 being the date of completion of acquisition.
- 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
[email protected]
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