EX-99.1 2 sify063_ex99-1.htm EXHIBIT 99.1


Exhibit 99.1



 

For immediate release Chennai, India

 

EARNING CALLS DETAILS

 

Event time: Monday, April 21, 2025 - 8:30 AM Eastern Time

 

To join: +1-888-506-0062 (Toll Free in the U.S. or Canada) or +1-973-528-0011 (International). Access code: 680924

 

On the call: Mr. Raju Vegesna, Chairman of the Board and Mr. M P Vijay Kumar, Executive Director & Group CFO

 

Live webcast: https://www.webcaster4.com/Webcast/Page/2184/52330

 

Archives: +1-877-481-4010 (Toll Free in the U.S. or Canada) or +1-919-882-2331 (International). Replay passcode 52330. Replay is available until April 21, 2026.


 

Sify reports Consolidated Financial Results for FY 2024-25

 

Revenues of INR 39886 Million. EBITDA of INR 7562 Million.

 

Loss for the Year was INR 785 Million.

 

HIGHLIGHTS

 

·

Revenue for the year was INR 39886 Million, an increase of 12% over last year.

·

EBITDA was INR 7562 Million, an increase of 12% over last year.

·

Loss before tax was INR 286 Million. Loss after tax was INR 785 Million. 

·

CAPEX for the year was INR 12745 Million.

 

MANAGEMENT COMMENTARY

 

Mr. Raju Vegesna, Chairman, said, “India’s emergence as a global growth hub is no longer a forecast. It is a present-day reality. India is set to become the third-largest economy by 2030-31 with projected annual growth of 6.7%, according to S&P Global.

 

This growth is underpinned by liberal economic reforms, a vibrant startup ecosystem, and a demographic dividend. With over 1.2 billion mobile phone users and the second-largest internet user base globally, India is now a important test-bed for emerging technologies such as AI, 5G, and cloud computing.

 

Government initiatives like ‘Digital India’ and ‘Startup India’ have further accelerated tech innovation, with India now home to over 100 unicorns. For global enterprises, the convergence of policy support, digital infrastructure, and deep talent positions India as a growth opportunity that is both immediate and immense.”.

 

Mr. M P Vijay Kumar, ED & Group CFO, said, “We remain committed to cost efficiency and fiscal discipline, aligning our financial strategies with long-term value creation across all our businesses. While we plan essential investments for future readiness, our current results face multiple headwinds of depreciation, interest expenses, and rising manpower costs. Our approach remains to invest to build resilience, enhance operational agility, and capture emerging opportunities.  The income tax expense includes tax, both current and deferred tax, of Rs.539 Million on profit of its data center subsidiary.

 

 

The cash balance at the end of the year was INR 6836 Million”.

 

BUSINESS HIGHLIGHTS 

 

·

The Revenue split between the businesses for the year was Data Center services 38%, Digital services 21% and Network services 41%.

·

As of March 31, 2025, Sify provides services via 1137 fiber nodes across the country, a 10% increase over last year.

·

As of March 31, 2025, Sify has deployed 1870 contracted SDWAN service points across the country.

 

CUSTOMER ENGAGEMENTS

 

Among the largest new contracts for the year were the following:

 

Data Center Services

 

·

One of India’s earliest Security SaaS companies migrated from a competitor’ data center to Sify Data Center.

·

One of the largest private banks in India nearly doubled their capacity for DR.

·

One of the largest Public Sector lenders in India has signed up for significant capacity in our latest hyperscale data center campus in the west.

 

Digital services

 

·

One of the largest private networks, the largest English media publishing group, an upcoming IT major and an MNC into heavy engineering signed up to migrate from their on-premise data center to multiple Cloud platforms.

·

The largest housing lender, the largest NBFC, a joint venture steel making major and private capital advisor signed up for Greenfield cloud implementation.

·

A subsidiary of an automobile major, a heavy engineering group, the largest MNC in India and a performance materials and specialty chemicals manufacturer signed up for services like DRaaS, PaaS and IaaS.

·

The largest insurance player and the National insurance regulator signed up for Private Cloud commissioning at their data center.

·

Multiple banks, a MNC in steel manufacturing, an NBFC and a retail major signed up for Managed services.

·

Three of the largest banks and a paint manufacturing major were the largest signups for Security services, including building their Security Operations Center.

 

 

Network Services

 

·

A Public Sector insurance major signed up for a full suite of Network connectivity services including SD-WAN services across 3500 locations.

·

A major ITeS player signed up for security services for their entire rooster of clients.

·

An upcoming regional player and a ITeS MNC signed up for Managed services for their clients in western and eastern India.

·

A co-operative bank signed a multi-year deal for on-site NOC support services.

·

The largest Indian clearing house for foreign currency settlement signed up for two different services in two regions.

·

One of the largest vendors operating the ID authentication for India’s airport regulatory authority signed up for SD-WAN at multiple airports.

 

FINANCIAL HIGHLIGHTS 

Unaudited Consolidated Income Statement as per IFRS (in INR Millions)

 

Description

 

Quarter ended

March 2025

 

 

Quarter ended

March 2024

(restated)

 

 

Year ended

March 2025

 

 

Year ended

March 2024

(restated)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

9,699

 

 

 

9,637

 

 

 

39,886

 

 

 

35,634

 

Cost of Sales

 

 

(5,869

)

 

 

(6,108

)

 

 

(24,917

)

 

 

(22,378

)

Gross Profit

 

 

3,830

 

 

 

3,529

 

 

 

14,969

 

 

 

13,256

 

Other Operating Income

 

 

76

 

 

 

183

 

 

 

363

 

 

 

378

 

Selling, General and Administrative Expenses

 

 

(1,977

)

 

 

(1,700

)

 

 

(7,442

)

 

 

(6,462

)

Depreciation and Amortisation expense

 

 

(1,558

)

 

 

(1,259

)

 

 

(5,633

)

 

 

(4,773

)

Operating Profit

 

 

371

 

 

 

753

 

 

 

2,257

 

 

 

2,399

 

Investment Income

 

 

76

 

 

 

25

 

 

 

188

 

 

 

156

 

Profit before financing and income taxes

 

 

447

 

 

 

778

 

 

 

2,445

 

 

 

2,555

 

Finance income

 

 

-

 

 

 

-

 

 

 

13

 

 

 

-

 

Interest expenses on borrowings and lease liabilities

 

 

(762

)

 

 

(590

)

 

 

(2,742

)

 

 

(2,202

)

Interest expenses on pension liabilities

 

 

-

 

 

 

(1

)

 

 

(2

)

 

 

(2

)

Profit/(Loss) before income taxes

 

 

(315

)

 

 

187

 

 

 

(286

)

 

 

351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Tax Expense

 

 

(263

)

 

 

(98

)

 

 

(499

)

 

 

(183

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit/(Loss) for the period

 

 

(578

)

 

 

89

 

 

 

(785

)

 

 

168

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit attributable to:

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation with Non-GAAP measure

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit/(Loss) for the period

 

 

(578

)

 

 

89

 

 

 

(785

)

 

 

168

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortisation expense

 

 

1,558

 

 

 

1,259

 

 

 

5,633

 

 

 

4,773

 

Net Finance Expenses

 

 

630

 

 

 

497

 

 

 

2,294

 

 

 

1,816

 

Current Tax

 

 

189

 

 

 

158

 

 

 

699

 

 

 

515

 

Deferred Tax

 

 

74

 

 

 

-

 

 

 

-

 

 

 

-

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred Tax

 

 

-

 

 

 

(60

)

 

 

(200

)

 

 

(332

)

Other Income (including exchange gain/loss)

 

 

28

 

 

 

(118

)

 

 

(79

)

 

 

(184

)

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

 

 

1,901

 

 

 

1,825

 

 

 

7,562

 

 

 

6,756

 

 

 

 

Management-defined Performance Measures (MPMs)

 

Sify uses Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) as the management-defined performance measure in its public communications. This measure is not specified by IFRS Accounting Standards and therefore might not be comparable to apparently similar measures used by other entities.

 

Management believes adjusting operating profit for these items provides comprehensive information of the company’s operating performance.

 

Reconciliation with Management-defined Performance Measures:

(In INR millions)

 

 

 

 

 

 

Quarter ended

 

 

 

 

 

Year ended

 

 

 

Quarter ended

 

 

March 2024

 

 

Year ended

 

 

March 2024

 

Description

 

March 2025

 

 

(restated)

 

 

March 2025

 

 

(restated)

 

Operating Profit

 

 

371

 

 

 

753

 

 

 

2,257

 

 

 

2,399

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortisation expense

 

 

1,558

 

 

 

1,259

 

 

 

5,633

 

 

 

4,773

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expenses on pension liabilities

 

 

-

 

 

 

(1

)

 

 

(2

)

 

 

(2

)

Other Income (including exchange gain/loss)

 

 

(28

)

 

 

(186

)

 

 

(326

)

 

 

(414

)

EBITDA

 

 

1,901

 

 

 

1,825

 

 

 

7,562

 

 

 

6,756

 


Segment Reporting:

(In INR millions)

 

 

 

2024-25

 

 

2023-24 (restated)

 

Particulars

 

Network

Services

(A)

 

 

Data

center

Services

(B)

 

 

Digital

Services

(C)

 

 

Total

(D=A+B+C)

 

 

Network

Services

(A)

 

 

Data

center

Services

(B)

 

 

Digital

Services

(C)

 

 

Total

(D=A+B+C)

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

External customers Revenue

 

 

15,781

 

 

 

14,196

 

 

 

9,909

 

 

 

39,886

 

 

 

14,661

 

 

 

11,054

 

 

 

9,919

 

 

 

35,634

 

Intersegment Revenue

 

 

-

 

 

 

88

 

 

 

222

 

 

 

310

 

 

 

-

 

 

 

88

 

 

 

222

 

 

 

310

 

Operating expenses

 

 

(13,920

)

 

 

(7,769

)

 

 

(10,612

)

 

 

(32,301

)

 

 

(12,319

)

 

 

(6,425

)

 

 

(10,105

)

 

 

(28,849

)

Intersegment expenses

 

 

(252

)

 

 

-

 

 

 

(58

)

 

 

(310

)

 

 

(252

)

 

 

 

 

 

(58

)

 

 

(310

)

Segment Result

 

 

1,609

 

 

 

6,515

 

 

 

(539

)

 

 

7,585

 

 

 

2,090

 

 

 

4,717

 

 

 

(22

)

 

 

6,785

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unallocated Expense (Support Service Unit Costs)

 

 

 

 

 

 

 

 

 

 

 

(58

)

 

 

 

 

 

 

 

 

 

 

 

8

 

Depreciation & Amortisation

 

 

 

 

 

 

 

 

 

 

 

(5,633

)

 

 

 

 

 

 

 

 

 

 

 

(4,773

)

Other income / (expense), net

 

 

 

 

 

 

 

 

 

 

 

551

 

 

 

 

 

 

 

 

 

 

 

 

535

 

Finance Income

 

 

 

 

 

 

 

 

 

 

 

13

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Finance Expense

 

 

 

 

 

 

 

 

 

 

 

(2,744

)

 

 

 

 

 

 

 

 

 

 

 

(2,204

)

Profit / (loss) before tax

 

 

 

 

 

 

 

 

 

 

 

(286

)

 

 

 

 

 

 

 

 

 

 

 

351

 

Income taxes (expense)/ benefit

 

 

 

 

 

 

 

 

 

 

 

(499

)

 

 

 

 

 

 

 

 

 

 

 

(183

)

Profit / (loss) for the year

 

 

 

 

 

 

 

 

 

 

 

(785

)

 

 

 

 

 

 

 

 

 

 

 

168

 

 

Equity and Debt:

(In INR millions)

 

 

 

31.03.2025

 

 

31.03.2024

 

EQUITY

 

 

16,725

 

 

 

15,349

 

BORROWINGS

 

 

 

 

 

 

Long term

 

 

28,237

 

 

 

23,350

 

Short term

 

 

7,304

 

 

 

7,152

 

Less: Cash Balance

 

 

6,836

 

 

 

5,835

 

Net Debt

 

 

28,705

 

 

 

24,667

 

 


About Sify Technologies

 

A multiple times award winner of the Golden Peacock from the Institute of Directors for Corporate Governance, 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 state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs 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 Digital services and conduct their business seamlessly from more than 1700 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore. Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.

 

Non-IFRS Measures 

 

This press release contains a financial measure not prepared in accordance with IFRS. In particular, EBITDA is referred to as “non-IFRS” measure. The non-IFRS financial measure we use may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies - refer to the reconciliation provided in the table labelled Financial Highlights for more information. In addition, these non-IFRS measures should not be considered in isolation as a substitute for, or as superior to, financial measures calculated in accordance with IFRS, and our financial results calculated in accordance with IFRS and reconciliation to those financial statements should be carefully evaluated.

 

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/A for the year ended March 31, 2024, 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

Mr. Praveen Krishna

Investor Relations & Public

Relations

+91 9840926523

praveen.krishna@sifycorp.com

20:20 Media

Nikhila Kesavan

+91 9840124036

nikhila.kesavan@2020msl.com

 

Weber Shandwick 

Lucia Domville

+1-212 546-8260

LDomville@webershandwick.com