1:1 Bonus Issue, Rs 7/Share Dividend: Multibagger IT Stock Reports 10% YoY Surge In Net

Mid cap IT Software sector stock, Sonata Software Ltd on Wednesday declared an interim dividend of Rs 7/share (700% on par value of Rs 1/-) for the FY 2023-24. The company has already fixed November 7, 2023 as record date for interim dividend.

The company also considered and approved bonus share in the proportion of 1:1. Record date for bonus issue is yet to be declared. Earlier, Sonata Software shares declined 3.23% intraday to end at Rs 1042.40 per share. Sonata Software shares surged 105% in last 1-year. Check details below:

Sonata Software Declares 700% Interim Dividend: According to the BSE filing of the company issued today, "Declared an Interim Dividend of Rs. 7 per share (700% on par value of Rs. 1/-) for the financial year 2023-24. The Record date for the purpose of payment of the Interim Dividend will be on Tuesday, 7th November, 2023. The Interim Dividend will be paid to the registered shareholders on or after Wednesday, 22nd November, 2023 through Electronic mode or by dividend warrants, as applicable."

Sonata Software Recommends 1:1 Bonus Issue: As per the exchange filing of the company issued on October 25, "Considered, approved and recommended a bonus issue of 1 (one) equity share for every 1 (one) equity share held by the Shareholders of the Company as on the record date. The bonus issue of equity shares will be subject to approval by the Shareholders through Postal Ballot, and any other applicable statutory and regulatory approvals. The Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted."

Sonata Software Q2 Results: The company for the quarter ended September 30, 2023 declared a surge 10% YoY in its net profit at Rs 124.2 crore from Rs 112.7 crore declared in the corresponding period an year ago, as per the exchange filing. The company announced its total revenue at Rs 1912.6 crore, up 28% against Rs 1496.0 crore declared last fiscal. The company announced a surge of 33% in its EBITDA at operating level to Rs 220.5 crore for the quarter under consideration as compared to Rs 165.7 crore declared in the preceding fiscal.

Sonata Software Stock Performance & Return: Last trading price of Sonata Software share on BSE is Rs 1042.40 apiece with intraday fall of 3.23%. Its 52-week high price is Rs 1156.00 per share and 52-week low price is Rs 506.50 per share, respectively. The company's market capitalisation is Rs 14,615.74 crore.

Sonata Software shares declined over 4% in last 1-week, soared 105% in last 1-year, jumped 76% in last 2-years, and gave shareholders a return of 276% return in last 3-years. In last 5-years, Sonata Software shares gained 415% and rose 4516% in last 10-years.

Sonata Software About: Sonata Software Limited is a leading Modernization engineering company, headquartered in Bangalore. Sonata provides modernization services using its proprietary Platformation^TM approach. It specializes in cloud and data modernization, Microsoft Dynamics Modernization, Digital contact center setup and management, managed cloud services and digital transformation services. Founded in 1986, the company has since grown to have a presence in North America, Europe, ANZ and Asia-Pacific, according to its official website.

Disclaimer: The stock just highlights the dividend, bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.