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Name | Symbol | Market | Type |
---|---|---|---|
Sify Technologies Limited | NASDAQ:SIFY | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.016 | -1.25% | 1.264 | 1.26 | 1.28 | 1.29 | 1.25 | 1.29 | 22,600 | 18:34:18 |
HIGHLIGHTS
(IN INR MILLION) | FY 2022-23 | FY 2021-22 |
EQUITY | 15,144 | 14,476 |
BORROWINGS | ||
Long term | 14,809 | 7,769 |
Short term | 7,367 | 7,483 |
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman, said, “The digital tsunami that swept India during Covid has settled into a steady adoption by both public and private enterprises. Enterprises are eager to unlock the power of digital automation measures to transition to the next phase of growth.
Sify is in the right place with the right set of assets and skills to help them realise their digital ambitions.”
Mr. Kamal Nath, CEO, said, “FY 2023 has set the tone for a massive digitalization drive among all sections of Enterprises, Public sector and Government customers. This puts Sify on the fast track to meet customer demands, which in turn offers potential for accelerated growth.
There has never been a previous period of uniform, accelerated growth opportunities for each of our three major service lines like Data Center infrastructure, Network infrastructure and Digital services.
The unique opportunity for Sify in the coming years is our ability to deliver transformational outcomes using a combination of these three services.”
Mr. M P Vijay Kumar, ED & Group CFO, said, “Our strategy to separate the business into three units is bearing fruit, with each business focussed on its unique opportunities and attracting appropriate business investments and partnerships.
Our investment philosophy is multi-pronged. Invest in new locations for Data Centers for long-term growth, expand capacity at current Data Centers to capture immediate demand, strengthen our network and cloud interconnects, while expanding our people strength with the necessary skills, tools and processes.
All of this while staying cost-competitive and fiscally diligent.
Cash balance at the end of the year was INR 4,579 Million.”
BUSINESS HIGHLIGHTS
Business Revenue (INR Millions) | FY 2022-23 | FY 2021-22 | Q4 2022-23 | % Growth FY 2022-23 vs FY 2021-22 |
Data Center services | 10,125 | 7,494 | 2,554 | 35% |
Digital Services | 9,988 | 7,520 | 2,792 | 33% |
Network services | 13,291 | 12,012 | 3,515 | 11% |
TOTAL | 33,404 | 27,026 | 8,861 | 24% |
CUSTOMER ENGAGEMENTS
Among the most prominent new contracts during the quarter were the following:
Data Center Services
Digital services
Network Services
FINANCIAL HIGHLIGHTS
Unaudited Consolidated Income Statement as per IFRS | ||||||||
(In INR millions) | ||||||||
Quarter ended | Quarter ended | Year ended | Year ended | |||||
Description | March | March | March | March | ||||
2023 | 2022 | 2023 | 2022 | |||||
(Audited) | ||||||||
Revenue | 8,861 | 6,805 | 33,404 | 27,026 | ||||
Cost of Revenues | (5,714 | ) | (4,076 | ) | (21,379 | ) | (16,042 | ) |
Selling, General and Administrative Expenses | (1,510 | ) | (1,194 | ) | (5,734 | ) | (4,944 | ) |
EBITDA | 1,637 | 1,535 | 6,291 | 6,040 | ||||
Depreciation and Amortisation expense | (1,092 | ) | (855 | ) | (3,972 | ) | (3,298 | ) |
Net Finance Expenses | (367 | ) | (268 | ) | (1,430 | ) | (1,025 | ) |
Other Income (including exchange gain) | 2 | 56 | 132 | 131 | ||||
Profit before tax | 180 | 468 | 1,021 | 1,848 | ||||
Current Tax | (105 | ) | (188 | ) | (526 | ) | (640 | ) |
Deferred Tax | (41 | ) | (53 | ) | 179 | 50 | ||
Profit for the period | 34 | 227 | 674 | 1,258 | ||||
Profit attributable to: | ||||||||
Reconciliation with Non-GAAP measure | ||||||||
Profit for the period | 34 | 227 | 674 | 1,258 | ||||
Add: | ||||||||
Depreciation and Amortisation expense | 1,092 | 855 | 3,972 | 3,298 | ||||
Impairment | ||||||||
Net Finance Expenses | 367 | 268 | 1,430 | 1,025 | ||||
Less: | ||||||||
Current Tax | 105 | 188 | 526 | 640 | ||||
Deferred Tax | 41 | 53 | (179 | ) | (50 | ) | ||
Other Income (including exchange gain) | (2 | ) | (56 | ) | (132 | ) | (131 | ) |
EBITDA | 1,637 | 1,535 | 6,291 | 6,040 | ||||
About Sify TechnologiesA Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses.
Sify’s infrastructure comprising the largest MPLS network, top-of-the-line DCs, partnership with global technology majors, vast expertise in business transformation solutions modelled on the cloud make it the first choice of start-ups, incoming Enterprises and even large Enterprises on the verge of a revamp.
More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Security services and conduct their business seamlessly from more than 1600 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.
Sify, www.sify.com, Sify Technologies, Sify Infinit Spaces limited, Sify Digital Services limited and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.
For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2022, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.
For further information, please contact:
Sify Technologies Limited | Grayling Investor Relations | 20:20 Media |
Mr. Praveen KrishnaInvestor Relations & Public Relations+91 44 22540777 (ext.2055)praveen.krishna@sifycorp.com | Lucia Domville+1-646-824-2856Lucia.Domville@grayling.com | Nikhila Kesavan+91 9840124036nikhila.kesavan@2020msl.com |
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