Sonata Software Share Price Live

Sonata Software Ltd mainly provides Information Technology (IT) services and solutions to its various customers in the United States of America, Europe, the Middle East, Australia and India. Sonata was initially set up as a division of Indian Organic Chemicals Ltd in 1986  and spun off into a separate company for consideration in 1993. In 1998, the company developed collaborative applications based on the robust Microsoft platform for easy messaging integration with the Internet. The company went public and was listed on the stock exchanges in 1999.

In 2000, the company signed a joint development agreement with an IT software company based in Milan, Italy, to provide IT software for e-finance projects with the development services of Sonata Software. The company entered a strategic alliance with TechDiscovery, an Atlanta-based software engineering firm, in 2004. In 2012, the company entered a strategic alliance with TIBCO to jointly offer Application Integration solutions.

In 2014, the company acquired the business of Xyka India Private Limited, a Bangalore-based company. It continued its business growth and signed an agreement to acquire Scalable Data Systems in 2018. In addition, the company’s Digital Travel Software Platform, Rezopia, won World Travel Award during the same year. In 2022,  the company won “The ‘Golden Peacock Award “ for excellence in Corporate Governance’ for 2021.

Business Segments

The company operates its whole business through 2 business segments listed below:

• International IT Services: Under this segment, the company provides  IT services to its customers in the US, UK, Europe, Asia Pacific, and ANZ. During FY 2023, the segment generated 26% of total revenue.
• Domestic IT Products: The company is engaged in the distribution of IT products in India under this segment. This segment contributed 74% of total revenue in FY 2023. 

Subsidiaries

As of March 31, 2023, the company had 26 subsidiaries (including IBIS Inc., the merged entity and Sonata Software FZ-LLC, the liquidated entity), and a few of them are listed below:

• Sonata Information Technology Limited: It is a wholly owned subsidiary that provides software applications, such as breed software, technical expertise, etc.
• Sonata Software Solutions Limited: This wholly-owned subsidiary provides services in business intelligence and analytics, application development management, mobility, cloud, social media, testing, enterprise services, and infrastructure management services.

Key Personnel

Pradip P. Shah, Chairman

Mr. Pradip Shah is a non-executive Independent Director and Chairman of the company. In 1977, he contributed to the establishment of the Housing Development Finance Corporation (HDFC). He founded India’s first and biggest credit rating agency, Credit Rating Information Services of India (CRISIL). He also founded IndAsia, a corporate finance and private equity consulting firm, in April 1998.  He holds a degree in commerce and is an ACA, AICWA and MBA from Harvard University, USA.

Corporate Actions

• In 2022, the company announced a bonus issue of shares in the ratio of 1:3 with a record date of September 08, 2022.
• Sonata announced a bonus issue of shares in the ratio of 1:1 with a record date of December 12, 2023.