SONATSOFTW

Sonata Software share price & financials

Price
₹297.4
Market cap
₹7.5k Cr
Sector
Information Technology
Calls analysed
6
Latest concall · Q1 FY27 · call held 07 Aug 2026

Sonata Software Limited Q1 FY27

Consolidated Revenue ₹3,279.1 cr +11%Consolidated PAT ₹108.61 cr −1%Consolidated EPS ₹3.9

What went well

  • Consolidated Revenue grew 29.3% QoQ and 10.6% YoY to Rs.3279.1 Crores.
  • Domestic Business Revenue grew strongly by 42.4% QoQ and 10.2% YoY to Rs.2505.6 Crores.
  • AI-led pipeline improved 21% and AI-led order wins increased 27% QoQ, reinforcing AI strategy.

What to watch

  • International Services EBITDA declined 4.8% QoQ to 15.4% due to unexpected large deal ramp-up delays, forex impact, and AI investments.
  • Consolidated PAT degrew 17.1% QoQ and 1.1% YoY to Rs.108.61 Crores, primarily due to a forex impact of Rs.35.4 Crores.
Read the full call →

What Sonata Software Limited does

Sonata Software is an IT services and engineering company that helps enterprises modernize legacy systems and adopt cloud, data and AI platforms, earning revenue from technology delivery contracts across International Services clients (US, Europe, Rest of World) and, through its India business SITL, from platform reselling, managed services and domestic IT services. It serves clients across four industry verticals -Technology/Media/Telecom (TMT), Retail/Manufacturing/Travel/Distribution (RMD), Banking/Financial Services/Insurance (BFSI), and Healthcare & Life Sciences (HLS). It operates as a long-standing Microsoft Cloud Solution Partner (Azure Expert MSP) and has built proprietary AI/agentic platforms and IP that it layers onto client engineering and modernization projects.

Segments

  • International Services (IITS)
  • Domestic Business (SITL)
Total employee headcount
6,283 (incl. domestic business, Q4 FY26)
Team on Microsoft technologies
3,500+
Active clients
400+ clients across USA, Europe, Asia, India, Australia and the Middle East
Microsoft partnership tenure
30+ years
Microsoft Advanced Specializations held
10 (Dynamics 365, Data Analytics, Teams, CAF, M365, Azure, Copilot)
Industry verticals served
TMT, RMD, BFSI, HLS
Founded 1994Headquarters Bengaluru, India (corporate office); Mumbai, India (registered office)Employees 6,283 (Q4 FY26 (31 March 2026)) Company website

Guidance record · Q4 FY26

what the last two calls moved 10 tracked 2 delivered 2 missed 6 open
  • EBITDA Margin delivered said Q1 FY26 Promised: closer to 20% margin by the end of the year Q4 FY26: International Services EBITDA margin hit 20.2%, meeting the target for end of year.
  • Total revenue went quiet said Q4 FY25 Promised: $1.5 billion in about three to four years time Q4 FY26: Not mentioned
  • Retail sector growth delayed said Q4 FY25 Promised: factoring in degrowth in the retail sector in Q1 and Q2 at least Q4 FY26: No update provided. Target for growth from Q1 FY27 remains.

All 10 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 10.6%, net profit down 0.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,170 2,843 2,617 2,965 2,119 −2%3,081 +8%2,536 −3%3,279 +11%
EBITDA177 164 173 160 173 −2%200 +22%209 +21%171 +7%
Net profit106 105 108 109 120 +13%104 −1%130 +20%108 −1%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −28.6% 1Y

₹200₹250₹300₹350₹400Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 6 Feb 2026Q4 FY26 — 11 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹372.4 on 10 Sept 2025 → ₹265.85. High ₹400.5 (18 Sept 2025), low ₹209.6 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−4.2%
7 Aug
Q4 FY26
−1.7%
11 May
Q3 FY26
−1.1%
6 Feb
Q2 FY26
−3.9%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 12.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 6.9%.

Year endingFY23FY24FY25FY26
Revenue₹7.5k Cr₹8.6k Cr₹10.2k Cr₹10.7k Cr
Operating profit₹605 Cr₹727 Cr₹690 Cr₹742 Cr
Operating margin8.1%8.4%6.8%6.9%
Interest₹19 Cr₹86 Cr₹65 Cr₹51 Cr
Depreciation₹60 Cr₹132 Cr₹121 Cr₹104 Cr
Net profit₹453 Cr₹308 Cr₹425 Cr₹463 Cr
Net margin6.1%3.6%4.2%4.3%
Cash from operations₹268 Cr₹281 Cr₹644 Cr₹538 Cr
Free cash flow₹227 Cr₹281 Cr₹577 Cr₹425 Cr
ROCE39.0%36.0%29.0%31.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹10 Cr₹10 Cr₹14 Cr₹28 Cr₹28 Cr₹28 Cr
Reserves₹895 Cr₹1.1k Cr₹1.3k Cr₹1.4k Cr₹1.7k Cr₹1.9k Cr
Borrowings₹185 Cr₹159 Cr₹590 Cr₹765 Cr₹739 Cr₹723 Cr
Other liabilities₹856 Cr₹1.3k Cr₹2.5k Cr₹2.9k Cr₹2.1k Cr₹2.4k Cr
Total liabilities₹1.9k Cr₹2.6k Cr₹4.4k Cr₹5.1k Cr₹4.6k Cr₹5.0k Cr
Fixed assets₹324 Cr₹427 Cr₹1.7k Cr₹1.7k Cr₹1.8k Cr₹1.8k Cr
Capital work in progress₹0 Cr₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹74 Cr
Investments₹76 Cr₹159 Cr₹220 Cr₹245 Cr₹72 Cr₹186 Cr
Other assets₹1.5k Cr₹2.0k Cr₹2.4k Cr₹3.1k Cr₹2.7k Cr₹2.9k Cr
Total assets₹1.9k Cr₹2.6k Cr₹4.4k Cr₹5.1k Cr₹4.6k Cr₹5.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +1.07 pp while DIIs trimmed −0.87 pp. The shareholder count shrank 2% to 2,01,974.

Promoters
28.2%
FIIs
9.2%
DIIs
24.7%
Public
36.7%
Others
1.3%

Since Jun 2025

  • Public +1.07 pp
  • DIIs −0.87 pp
  • FIIs −0.51 pp

How it drifted, 12 quarters

Over this window DIIs went from 16.4% to 24.7% — +8.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 28.2%, FIIs 15.0%, DIIs 16.4%, Public 39.4%, Others 1.0%.Dec '23: Promoters 28.2%, FIIs 14.5%, DIIs 17.6%, Public 38.7%, Others 1.0%.Mar '24: Promoters 28.2%, FIIs 13.9%, DIIs 19.1%, Public 37.8%, Others 1.0%.Jun '24: Promoters 28.2%, FIIs 12.4%, DIIs 21.6%, Public 36.9%, Others 1.0%.Sep '24: Promoters 28.2%, FIIs 12.1%, DIIs 23.4%, Public 35.3%, Others 1.0%.Dec '24: Promoters 28.2%, FIIs 12.3%, DIIs 24.3%, Public 34.2%, Others 1.0%.Mar '25: Promoters 28.2%, FIIs 10.8%, DIIs 25.9%, Public 34.2%, Others 1.0%.Jun '25: Promoters 28.2%, FIIs 9.7%, DIIs 25.6%, Public 35.6%, Others 1.0%.Sep '25: Promoters 28.2%, FIIs 8.8%, DIIs 26.3%, Public 35.6%, Others 1.1%.Dec '25: Promoters 28.2%, FIIs 8.8%, DIIs 26.3%, Public 35.6%, Others 1.1%.Mar '26: Promoters 28.2%, FIIs 8.7%, DIIs 25.6%, Public 36.2%, Others 1.3%.Jun '26: Promoters 28.2%, FIIs 9.2%, DIIs 24.7%, Public 36.7%, Others 1.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Sonata Software Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
HDFC Mutual Fund-HDFC Nifty Smallcap 250 ETF Mutual fund9.74%newly disclosed
Hemendra M Kothari 9.13%unchanged
Viren Rajan Raheja 7.85%unchanged
Akshay Rajan Raheja 7.85%unchanged
Suman R Raheja 6.56%unchanged
Invesco India Contra Fund Mutual fund4.77%unchanged
Rajan B Raheja 4.55%unchanged
Nippon Life India Trustee Ltd-A/C Nippon India Mul Mutual fund2.14%−0.19 pp
Tata Digital India Fund Mutual fund1.87%−0.21 pp
Aditya Birla Sun Life Trustee Private Limited A/C Mutual fund1.66%unchanged
Motilal Oswal Nifty Smallcap 250 ETF Mutual fund1.58%newly disclosed
Globus Stores Private Limited 1.37%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in SONATSOFTW

Filings to Aug 2026

0 new, 4 added, 2 trimmed, 0 sold out — net +0.05 L shares (+0.0%).

Held by funds
₹995 Cr
14 schemes
Biggest holder
HDFC Small Cap Fund
₹648 Cr · 1.6% of that fund
SchemeHoldingLast month
HDFC Small Cap Fund HDFC Mutual Fund₹648 Crheld
HDFC Children's Fund HDFC Mutual Fund₹97 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹92 Crheld
Nippon India Value Fund Nippon India Mutual Fund₹48 Crheld
HDFC Technology Fund HDFC Mutual Fund₹44 Crheld
HDFC Multi Cap Fund HDFC Mutual Fund₹41 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹9 Cr+0.04 L
HDFC Retirement Savings Fund - Hybrid-Equity Plan HDFC Mutual Fund₹7 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 2 trimmed — net +5,367 shares (+0.0%)

Funds are sitting on
-23%
vs est. average cost
Held by funds
₹995 Cr
14 schemes · ≈ 12% of the company
Biggest holder
HDFC Small Cap Fund
₹648 Cr · 1.6% of that fund
Longest holder
Nippon India Nifty Smallcap 250 Index Fund
5y 11m · since Oct '20

Shares held by these funds +48%

Aug '23 3.14 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹266, this stock must grow earnings at 8% every year for 7 years. Our analysis caps realistic growth at ~1%. At that growth it is worth ₹176 — downside of 34%.

Growth the price implies
8.4% a year
for 7 years, fading to 4%
It has actually compounded at
0.7% a year
net profit, FY23–FY26 · EPS 0.9%
The gap
0.1 pp
-34% downside if it only repeats history
Price today ₹265.85 Value at the reference growth ₹176.37

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Sonata Software Limited

Guides on how to read this kind of business and the numbers that matter.