Reported Earnings • Apr 14
Full year 2026 earnings released Full year 2026 results: Revenue: ₹44.9b (up 13% from FY 2025). Net loss: ₹1.36b (loss widened 73% from FY 2025). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Telecom industry in the US. New Risk • Apr 13
New major risk - Revenue and earnings growth Earnings have declined by 75% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 75% per year over the past 5 years. Announcement • Apr 06
Sify Technologies Limited to Report Fiscal Year 2026 Results on Apr 13, 2026 Sify Technologies Limited announced that they will report fiscal year 2026 results at 9:30 AM, US Eastern Standard Time on Apr 13, 2026 Reported Earnings • Jan 13
Third quarter 2026 earnings released Third quarter 2026 results: Revenue: ₹11.6b (up 11% from 3Q 2025). Net loss: ₹329.0m (loss widened 28% from 3Q 2025). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Telecom industry in the US. Announcement • Jan 05
Sify Technologies Limited to Report Q3, 2026 Results on Jan 12, 2026 Sify Technologies Limited announced that they will report Q3, 2026 results at 9:30 AM, US Eastern Standard Time on Jan 12, 2026 Reported Earnings • Oct 26
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: ₹10.5b (up 2.5% from 2Q 2025). Net loss: ₹275.0m (down 370% from profit in 2Q 2025). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Telecom industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Announcement • Oct 20
Sify Technologies Limited to Report Q2, 2026 Results on Oct 25, 2025 Sify Technologies Limited announced that they will report Q2, 2026 results at 9:30 AM, US Eastern Standard Time on Oct 25, 2025 New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings have declined by 51% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 51% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Jul 20
First quarter 2026 earnings released: ₹5.38 loss per share (vs ₹1.02 loss in 1Q 2025) First quarter 2026 results: ₹5.38 loss per share (further deteriorated from ₹1.02 loss in 1Q 2025). Revenue: ₹10.7b (up 14% from 1Q 2025). Net loss: ₹389.0m (loss widened ₹336.8m from 1Q 2025). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Telecom industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. New Risk • Jul 18
New major risk - Revenue and earnings growth Earnings have declined by 46% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Earnings have declined by 46% per year over the past 5 years. Announcement • Jul 11
Sify Technologies Limited to Report Q1, 2026 Results on Jul 18, 2025 Sify Technologies Limited announced that they will report Q1, 2026 results Pre-Market on Jul 18, 2025 Board Change • Jul 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Padmaja Chunduru was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 24
Sify Technologies Appoints Dr. Ram Sewak Sharma as Director on the Board Sify Technologies Limited has announced the appointment of Dr. Ram Sewak Sharma as a new Director on its Board. Dr. Sharma, a member of the Indian Administrative Service (IAS 1978, Jharkhand cadre), has a distinguished service record of over four decades, contributing significantly to India's policies in Information and Communication Technologies (ICTs). He was the founding Director General and Mission Director of the Unique Identification Authority of India (UIDAI), where he helped launch Aadhaar, the world's largest biometric identity system. Dr. Sharma has also served as Chairman of the Telecom Regulatory Authority of India (TRAI) and Secretary of the Department of Electronics and Information Technology. Dr. Sharma holds a master’s degree in mathematics from the Indian Institute of Technology (IIT), Kanpur, a master’s in computer science from University of California, Riverside, and a PhD from IIT, Delhi. Reported Earnings • Jun 13
Full year 2025 earnings released: ₹12.62 loss per share (vs ₹5.54 profit in FY 2024) Full year 2025 results: ₹12.62 loss per share (down from ₹5.54 profit in FY 2024). Revenue: ₹39.9b (up 12% from FY 2024). Net loss: ₹785.0m (down ₹953.9m from profit in FY 2024). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Telecom industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Announcement • Jun 10
Sify Technologies Ltd. Announces Resignation of Ajay Kumar from Board of Directors Sify Technologies Ltd. notified the Nasdaq Stock Market (Nasdaq) on May 21, 2025 that, consequent to the resignation of Dr. Ajay Kumar from the company’s Board of Directors (the “Board”), the company was in non-compliance with Nasdaq Listing Rule 5605(b)(1), requiring that the majority of the Board be composed of independent directors, and Nasdaq Listing Rule 5605(c)(2), requiring that there be at least three members of the Board’s audit committee. Dr. Kumar resigned to take charge of a constitutional responsibility pursuant to the order of the Hon'ble President of India. Further on June 5, 2025, the Company received a letter from the Listing Qualifications Department of Nasdaq indicating that, due to Dr. Kumar’s resignation, the Company no longer complies with Nasdaq’s independent director and audit committee requirements as set forth in Listing Rule 5605. The notice states that, consistent with Listing Rules 5605(b)(1)(A) and 5605(c)(4), the Company would be provided with a cure period to regain compliance. Such cure period will last until the earlier of the Company’s next annual shareholders’ meeting, or May 15, 2026; provided that, if the next annual shareholders’ meeting is held before November 11, 2025, then the Company must evidence compliance no later than November 11, 2025. The Company is actively engaged in identifying and evaluating the appointment of another independent director to the Board to fill the vacancies created by Dr. Kumar’s resignation and to regain compliance with the Nasdaq Listing Rules within the specified cure period. Announcement • May 20
Sify Technologies Limited Announces Pay-Per-Use Colocation Pricing At All Nvidia-Certified Ai-Ready Hyperscale Data Center Campuses Across India Sify Technologies Limited announced the launch of its unique Pay-per-use model to support the burgeoning requirements for AI Cloud Services. This follows the recent expansion of Sify's portfolio of DGX-Ready Data Centers, certified for up to 130 KW/rack capacity under NVIDIA's DGX-Ready Data Center program - Sify's latest hyperscale data centers in Chennai andoida have now been certified by NVIDIA, joining Sify's Navi Mumbai data center which was certified in 2024. Sify will offer this innovative, colocation pricing program at all three of these campus locations. The hourly pricing model is inclusive of hosting, power and infrastructure costs. By pricing its services on an hourly basis, Sify is removing the entry-cost barrier and fixed-cost infrastructure risk, enabling its GPU Cloud partners to set up and respond quickly to the growing AI market. Sify's converged ICT ecosystem will also offer an extensive array of services like Global connectivity, White Glove IT infrastructure and Managed Services. Initially, Sify will support the NVIDIA H100, H200, B200, GB200 NVL72, and GB300 NVL72 platforms, including liquid-cooled variants. Reported Earnings • Apr 21
Full year 2025 earnings released Full year 2025 results: Revenue: ₹39.9b (up 12% from FY 2024). Net loss: ₹785.0m (down ₹833.9m from profit in FY 2024). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Telecom industry in the US. New Risk • Apr 20
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (137% increase in shares outstanding). New Risk • Apr 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 137% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Shareholders have been substantially diluted in the past year (137% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Announcement • Apr 11
Sify Technologies Limited to Report Q4, 2025 Results on Apr 18, 2025 Sify Technologies Limited announced that they will report Q4, 2025 results on Apr 18, 2025 Reported Earnings • Jan 17
Second quarter 2025 earnings released: EPS: ₹1.99 (vs ₹0.74 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹1.99 (up from ₹0.74 loss in 2Q 2024). Revenue: ₹10.3b (up 17% from 2Q 2024). Net income: ₹101.9m (up ₹124.6m from 2Q 2024). Profit margin: 1.0% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Telecom industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Announcement • Jan 10
Sify Technologies Limited to Report Q3, 2025 Results on Jan 17, 2025 Sify Technologies Limited announced that they will report Q3, 2025 results Pre-Market on Jan 17, 2025 Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$2.63, the stock trades at a forward P/E ratio of 18x. Average trailing P/E is 19x in the Telecom industry in the US. Total loss to shareholders of 89% over the past three years. Reported Earnings • Oct 23
Second quarter 2025 earnings released Second quarter 2025 results: Net income: (up ₹40.0m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. New Risk • Oct 22
New major risk - Revenue and earnings growth Earnings have declined by 22% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (32% average weekly change). Earnings have declined by 22% per year over the past 5 years. Announcement • Oct 22
Sify Technologies Regains Compliance with Nasdaq Minimum Bid Price Requirement Sify Technologies Ltd. (the ‘Company’) received a letter (the ‘Notification Letter’) from the Listing Qualifications Department of the Nasdaq Stock Market (‘Nasdaq’) on October 18, 2024, informing the Company that it has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2) (the ‘Minimum Bid Price Requirement’) and the matter is closed. As announced in July 2024, the Company was notified by Nasdaq that it was not in compliance with the Minimum Bid Price Requirement, as the closing bid price of the Company's American Depositary Shares (‘ADSs’) had been below $1.00 for 30 consecutive business days. Effective October 4, 2024, the Company effected a 1-for-6 ratio change of its ADSs. The Notification Letter confirmed that the Company evidenced a closing bid price of the Company’s ADSs on Nasdaq at or greater than the $1.00 per ADS minimum requirement for 10 consecutive business days from October 4, 2024 to October 17, 2024 and that the Company has regained compliance with the Minimum Bid Price Requirement. Announcement • Oct 15
Sify Technologies Limited to Report Q2, 2025 Results on Oct 22, 2024 Sify Technologies Limited announced that they will report Q2, 2025 results Pre-Market on Oct 22, 2024 Announcement • Oct 14
Sify Technologies Appoints Ms. Padmaja Chunduru as Director on the Board Sify Technologies Limited appointed Ms. Padmaja Chunduru as Director on the Board of the company. A Career Banker with a Reputation for Quiet, Efficient Disruption, Ms. Chunduru, Previously Led Important Functions At India’S Largest Bank, State Bank of India, Both in India and the United States. Post Sbi, as Md & CEO At Indian Bank, She Was Tasked with Its Merger with Allahabad Bank. the Seamless Execution Between Two Diametrically Opposite Indian Banking Institutions, Is Today an Essential Reference Point in M&A Studies and Is Chronicled as A Case Study "Merger of Equals" by Harvard Business School Publishing. These Gender-Defying Roles Led Her to the Corner Office of the National Securities Depository Limited (Nsdl) as the Md & Ceo, Where She Was Instrumental in Developing A Pioneering Dlt Blockchain Based Platform for Security and Covenant Monitoring of Corporate Debt. A Staunch Evangelist of Technology in Business, She Tapped into the Emerging Comfort Among Women with Fintech to Bring More of Them into the World of Securities While Simultaneously Laying the Roadmap for the Market Listing of Nsdl. Until Recently, She Was A Director on the Boards of Lic (Life Insurance Corporation of India), Npci (National Payments Corporation of India), Issa (International Securities Services Association) and Acg (Asia Pacific Central Depository Group), Institute of International Bankers and Asia Society, New York and Non-Executive Chairperson Nominee Director of Universal Sompo General Insurance Company Limited. She Is Currently A Member of the Insurance Advisory Committee of Irdai Insurance Regulatory and Development Authority of India and the Centre for Corporate Governance and Sustainability, Iim, Bangalore. Ms. Chunduru Is Also A Certified Associate of Indian Institute of Bankers. She Has Been Awarded Best CEO (Bfsi) for 2021 by Business Today and Best CEO 2021 for Women Leadership by Economic Times. She Has Been Acknowledged as One of the Most Powerful Women (Mpw) in Business by Fortune India and Business Today, for 2022 and 2023. This Wide Breadth of Transformative Knowledge Is Extremely Important in an Evolving Digital-Aware Market Like India. by Taking on This Responsibility, I Hope to Translate My Experience into Productive Mentoring, While Ensuring That Stakeholder Interests Are Safeguarded, and Corporate Governance Is Adhered to in Letter and Spirit.” About Sify Technologies A Multiple Times Golden Peacock Award Winner 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, Medium and Small 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 1600 Cities in India. Internationally, Sify Has Presence Across North America, the United Kingdom, Uae and Singapore. Announcement • Jul 26
Sify Technologies Ltd. Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency Sify Technologies Limited received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s American Depositary Shares (“ADSs”) for the last 31 consecutive business days, the Company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). The letter also indicated that, in accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company will be provided with a compliance period of 180 calendar days, or until January 15, 2025, to regain compliance with the bid price requirement. If at any time before January 15, 2025, the bid price of the ADSs closes at or above $1.00 per ADS for a minimum of ten consecutive trading days, Nasdaq will provide written notification that the Company has achieved compliance with the bid price requirement, and the matter will be closed. The notice has no immediate effect on the listing of the ADSs, which continue to trade on the Nasdaq Capital Market under the symbol “SIFY”. In the event the Company does not regain compliance by January 15, 2025, the Company may be eligible for additional time to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the bid price requirement. The Company would also be required to provide written notice to Nasdaq of its intent to cure the deficiency during this second compliance period. If it appears to the Nasdaq staff that the Company will not be able to cure the deficiency or if the Company is otherwise not eligible, Nasdaq would provide notice to the Company that its ADSs would be subject to delisting. At that time, the Company may appeal the Nasdaq staff’s delisting determination to a Nasdaq Hearings Panel. The Company intends to actively monitor the closing bid price of its ADSs and will evaluate available options to regain compliance with the bid price requirement. However, there can be no assurance that the Company will be able to regain compliance with the bid price requirement or maintain compliance with any of the other Nasdaq continued listing requirements. Reported Earnings • Jul 22
First quarter 2025 earnings released: ₹0.57 loss per share (vs ₹0.35 profit in 1Q 2024) First quarter 2025 results: ₹0.57 loss per share (down from ₹0.35 profit in 1Q 2024). Revenue: ₹9.42b (up 10% from 1Q 2024). Net loss: ₹105.0m (down 262% from profit in 1Q 2024). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Telecom industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Announcement • Jul 13
Sify Technologies Limited to Report Q1, 2025 Results on Jul 19, 2024 Sify Technologies Limited announced that they will report Q1, 2025 results Pre-Market on Jul 19, 2024 Announcement • Jul 08
Sify Technologies Limited Appoints Tom Bradicich to Its Board of Directors Sify Technologies Limited announced the appointment of Dr. Tom Bradicich as the incoming Director on the board of the company. Dr. Bradicich previously served on several boards, including that of Aspen Technology (AZPN) and the Advisory Boards of SparkCognition. Dr. Bradicich’s professional career was spent in global leadership roles at Fortune 500 IT companies such as IBM and HPE where he and his team developed and launched dozens of software and systems products, received many patents, and conceived the trademarks HPE Edgeline™ Systems, IBM xArchitecture™ Systems, IBM MXT™ Memory, and National Instruments Big Analog Data™ Solutions. He was three times named CRN’s Top 100 Executives and Top 25 Disrupters, elected to the IBM Academy of Technology, honored as a Life Member of the IEEE, and inducted into the North Carolina State University Alumni Hall of Fame. Active in charity work, he served as executive sponsor to The Salvation Army, and founded sockrelief.com, serving the homeless and children in need. A globally feted technologist, Dr. Bradicich is a recipient of many awards, including the IBM Chairman’s Award, CRN Product of the Year, Frost & Sullivan Best Practice, Gartner Magic Quadrant Leader, Network World Product of the Year, Mobile World Congress Best of Show and Automation World Leadership Award. He is currently writing a book, The 1st Mover, a collection of his vast experience in business leadership, creating new product categories and technical innovation. Announcement • Jul 04
Sify Technologies Limited Appoints Ajay Kumar as Director on the Board Sify Technologies Limited announced the appointment of Dr. Ajay Kumar as the incoming Director on the Board of the company. An Indian Administrative Service officer of the 1985 batch, Dr. Ajay Kumar last served as the Defence Secretary for the Government of India and has deep expertise in the technology and policy domains. Previously, as head of several government enterprises, he has scripted major successes in defence industry ecosystem including defence startup ecosystem through iDEX between 2017-2022, Digital India initiatives including Aadhaar, UPI, Jeevan Pramaan between 2014-2017 among others. Dr. Kumar has been instrumental in boosting performance of Defence PSUs during 2018-2022 and promoting startups in the drone and space sector between 2020-2021. Dr. Kumar holds a B.Tech in electrical engineering, a Master's degree in applied economics from the University of Minnesota and a PhD in business administration from the Carlson School of Management at the University of Minnesota. New Risk • Jun 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$81.6m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (US$81.6m market cap). New Risk • May 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Profit margins are more than 30% lower than last year (0.1% net profit margin). Reported Earnings • Apr 23
Full year 2024 earnings released Full year 2024 results: Revenue: ₹35.6b (up 6.7% from FY 2023). Net income: ₹49.0m (down 93% from FY 2023). Profit margin: 0.1% (down from 2.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Telecom industry in the US. Major Estimate Revision • Apr 23
Consensus forecasts updated The consensus outlook for fiscal year 2025 has been updated. Telecom industry in the US expected to see average net income growth of 25% next year. Consensus price target down from US$7.00 to US$3.00. Share price fell 4.0% to US$1.19 over the past week. Announcement • Apr 16
Sify Technologies Limited to Report Fiscal Year 2024 Results on Apr 22, 2024 Sify Technologies Limited announced that they will report fiscal year 2024 results Pre-Market on Apr 22, 2024 Announcement • Mar 23
Sify Technologies Limited has filed a Follow-on Equity Offering in the amount of $30 million. Sify Technologies Limited has filed a Follow-on Equity Offering in the amount of $30 million.
Security Name: American Depositary Shares
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 250,000,000
Price\Range: $0.12
Transaction Features: Rights Offering Reported Earnings • Jan 18
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₹8.66b (down 2.7% from 3Q 2023). Net loss: ₹14.0m (down 105% from profit in 3Q 2023). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Telecom industry in the US. Announcement • Jan 12
Sify Technologies Limited to Report Q3, 2024 Results on Jan 18, 2024 Sify Technologies Limited announced that they will report Q3, 2024 results Pre-Market on Jan 18, 2024 Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$1.87, the stock trades at a forward P/E ratio of 62x. Average forward P/E is 9x in the Telecom industry in the US. Total returns to shareholders of 72% over the past three years. Reported Earnings • Nov 22
Second quarter 2024 earnings released: EPS: ₹0.082 (vs ₹0.61 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.082 (down from ₹0.61 in 2Q 2023). Revenue: ₹8.79b (up 11% from 2Q 2023). Net income: ₹15.0m (down 87% from 2Q 2023). Profit margin: 0.2% (down from 1.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Telecom industry in the US. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Major Estimate Revision • Oct 27
Consensus EPS estimates fall by 67% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₹2.49 to ₹0.831 per share. Revenue forecast steady at ₹46.8b. Net income forecast to grow 24% next year vs 60% decline forecast for Telecom industry in the US. Consensus price target of US$7.00 unchanged from last update. Share price fell 9.1% to US$1.49 over the past week. Reported Earnings • Oct 20
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₹8.79b (up 11% from 2Q 2023). Net income: ₹15.0m (down 87% from 2Q 2023). Profit margin: 0.2% (down from 1.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Telecom industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Oct 14
Sify Technologies Limited to Report Q2, 2024 Results on Oct 20, 2023 Sify Technologies Limited announced that they will report Q2, 2024 results Pre-Market on Oct 20, 2023 Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.99, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 32x in the Telecom industry in the US. Total returns to shareholders of 66% over the past three years. Major Estimate Revision • Jul 27
Consensus EPS estimates fall by 25% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₹3.28 to ₹2.46 per share. Revenue forecast steady at ₹46.3b. Net income forecast to grow 19% next year vs 34% decline forecast for Telecom industry in the US. Consensus price target of US$7.00 unchanged from last update. Share price fell 13% to US$2.05 over the past week. Reported Earnings • Jul 20
First quarter 2024 earnings released: EPS: ₹0.52 (vs ₹1.48 in 1Q 2023) First quarter 2024 results: EPS: ₹0.52 (down from ₹1.48 in 1Q 2023). Revenue: ₹8.55b (up 11% from 1Q 2023). Net income: ₹95.0m (down 65% from 1Q 2023). Profit margin: 1.1% (down from 3.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Telecom industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • Jul 14
Sify Technologies Limited to Report Q1, 2024 Results on Jul 20, 2023 Sify Technologies Limited announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on Jul 20, 2023 New Risk • Jul 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (2.0% net profit margin). Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to US$2.75, the stock trades at a forward P/E ratio of 69x. Average forward P/E is 50x in the Telecom industry in the US. Total returns to shareholders of 164% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to US$1.75, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 37x in the Telecom industry in the US. Total returns to shareholders of 123% over the past three years. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$1.33, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 33x in the Telecom industry in the US. Total returns to shareholders of 43% over the past three years. Reported Earnings • Apr 25
Full year 2023 earnings released Full year 2023 results: Revenue: ₹33.4b (up 24% from FY 2022). Net income: ₹674.0m (down 46% from FY 2022). Profit margin: 2.0% (down from 4.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Telecom industry in the US. Major Estimate Revision • Apr 23
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₹6.57 to ₹5.74 per share. Revenue forecast steady at ₹41.4b. Net income forecast to grow 20% next year vs 55% decline forecast for Telecom industry in the US. Consensus price target of US$7.00 unchanged from last update. Share price fell 2.8% to US$1.40 over the past week. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$1.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Telecom industry in the US. Total returns to shareholders of 92% over the past three years. Reported Earnings • Jan 27
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₹8.90b (up 31% from 3Q 2022). Net income: ₹258.0m (down 25% from 3Q 2022). Profit margin: 2.9% (down from 5.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Telecom industry in the US. Announcement • Jan 19
Sify Technologies Limited to Report Q3, 2023 Results on Jan 25, 2023 Sify Technologies Limited announced that they will report Q3, 2023 results at 9:30 AM, US Eastern Standard Time on Jan 25, 2023 Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 17% share price gain to US$1.32, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Telecom industry in the US. Total returns to shareholders of 6.5% over the past three years. Reported Earnings • Nov 19
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₹7.94b (up 14% from 2Q 2022). Net income: ₹112.0m (down 69% from 2Q 2022). Profit margin: 1.4% (down from 5.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 1.7% growth forecast for the Telecom industry in the US. Price Target Changed • Nov 17
Price target increased to US$7.00 Up from US$6.00, the current price target is provided by 1 analyst. New target price is 358% above last closing price of US$1.53. Stock is down 61% over the past year. The company is forecast to post earnings per share of ₹6.62 for next year compared to ₹6.89 last year. Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. Independent Director Arun Seth was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Oct 28
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from ₹8.28 to ₹6.62 per share. Revenue forecast steady at ₹41.7b. Net income forecast to grow 38% next year vs 6.5% growth forecast for Telecom industry in the US. Consensus price target of US$7.00 unchanged from last update. Share price was steady at US$1.61 over the past week. Reported Earnings • Oct 22
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₹7.94b (up 14% from 2Q 2022). Net income: ₹112.0m (down 69% from 2Q 2022). Profit margin: 1.4% (down from 5.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 1.3% growth forecast for the Telecom industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 29
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from ₹39.4b to ₹39.9b. EPS estimate increased from ₹7.18 to ₹7.98 per share. Net income forecast to grow 20% next year vs 3.8% growth forecast for Telecom industry in the US. Consensus price target of US$7.00 unchanged from last update. Share price rose 2.7% to US$2.27 over the past week. Reported Earnings • Jul 22
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: ₹1.48. Revenue: ₹7.71b (up 20% from 1Q 2022). Net income: ₹271.0m (down 18% from 1Q 2022). Profit margin: 3.5% (down from 5.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 44% compared to a 6.2% decline forecast for the industry in the US. Reported Earnings • Jun 16
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: ₹27.0b (up 11% from FY 2021). Net income: ₹1.35b (down 12% from FY 2021). Profit margin: 5.0% (down from 6.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 41% compared to a 6.2% decline forecast for the industry in the US. 
