Hem Securities report on Sonata Software
Sonata Software Q4 FY22 consolidated revenues came in at ₹1464 Cr, up 36.06% YoY and down 21.23% QoQ. PBIDT (Exc OI) for Q4FY22 stood at ₹108.1 Cr, up 4.87% YoY and down 17.90% QoQ. PBIDTM (Ex OI) for Q4FY22 came at 7.39%, -219 bps YoY and +30 bps QoQ. PAT for Q4FY22 stood at ₹100.9 Cr, up 21.48% YoY and up 3.31% QoQ.
Outlook
We initiate a “BUY” rating on the stock and value the stock at 17.5x FY24E earnings to arrive at the target of ₹839.
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