Mid-Cap IT Software Stock To Issue Bonus Share

Sonata Software Ltd has come into existence in 1994 and operates in IT Software sector. It has a market capitalization of Rs 7505 crore at the time of writing the story. As world leaders in digital technologies including IoT, Artificial Intelligence, Machine Learning, Robotic Process Automation, Chatbots, Block Chain and Cyber Security, Sonata's people and systems seek to deliver on its commitment to excellence in business technology solutions.

Now the board of directors of Sonata Software has approved and recommended bonus issue. Check key details below:

Sonata Software Ltd To Issue Bonus Share

The board of directors of the company in their BSE filing dated July 25 said, "The Board considered, approved and recommended a bonus issue of 1 (one) equity share for every 3 (three) equity shares 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. The details pertaining to the Bonus issue of equity shares as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is provided in Annexure II."

Therefore, the shareholder with 3 equity shares will now get one bonus share.

2. Sonata Software Ltd Stock Outlook

The current market price of the stock is Rs 713 apiece with a gain of 1.18% at the time of writing the report. The 52-week high of the stock is Rs 1030 apiece and 52-week low is Rs 610 apiece. The ROE of the stock is 46 and PE is 28. The stock has fallen 7.56% in last 1 year. It has given a return of 129% in last 3 years and 325% in last 5 years.

3. Sonata Software Ltd Q1 FY23 Results

The company announced its results for the quarter ended June 2022 and registered a robust growth. It declared consolidated revenue of Rs1,778.90 crore in Q1FY23 as against Rs 1,268.50 crore in the previous corresponding quarter, with a growth of 40% yoy. It registered a growth of 22% sequentially against revenue at Rs1,463.60 crore in quarter ended March 2022. Sonata's consolidated EBITDA during the quarter under review stood at Rs159.80 crore, as against Rs129.10 crore in the quarter ended June 2021, with a growth of 24% yoy, and 4% on a QoQ basis.

4. Sonata Software Overview

It leverages the power of platforms to help clients create and implement platform-based business models. By combining engineering excellence with industry experience, niche horizontal expertise, platform assets& IPs - Sonata helps build open, connected, intelligent and scalable platforms that form the core of modern digital businesses today. Platformation facilitates interaction between enterprises, consumers andecosystem players thereby unlocking value. It enables swift response to changing customer demands through innovative services/ product propositions creating value to all stakeholders, according to the company's official website.