Sonata Software, a mid-tier IT firm, in a bid to scale significantly, plans to increase investments in its technological capabilities and extend its presence in different industry verticals and geographies, said Samir Dhir, CEO at Sonata Software.
Dhir told businessline, “As we move forward, we will double down investments to improve our tech capabilities and build a partnership ecosystem from a cloud and data perspective because the market is changing rapidly.”
Foraying into different verticals
The company also plans to foray deeper into different industry verticals such as healthcare and BFSI. “We wish to double down on the consumer-facing industry verticals as we move forward in order to accelerate growth,” Dhir said. The firm is currently strong in the high tech-which contributes to 30 per cent of revenue, retail, manufacturing and distribution sectors.
It intends to establish its presence in different geographies as well. While it is currently present in the US, UK, and Australian markets, it intends to explore the European countries going forward, according to Dhir.
Dhir says Sonata Software, traditionally strong in modernising the estates of its customers, whether it involves moving them from on-prem to the cloud, monetizing data ecosystems, or monetising supply chain operations. “We will continue to focus on modernisation as it has pivoted on a high degree of automation and driving agility in the customer landscape to deliver value faster,” he added.
He also said that the company believes the larger trend of a probable slowdown in the IT sector won’t affect the modernisation agenda of its customers in the long term. “There might be a slowdown in the next few quarters, but in general, the product line will be looking upwards,” Dhir said.
In the last quarter, Sonata Software reported revenues of ₹1,778.9 crore, a YoY growth of 40 per cent, and profit after tax stood at ₹107.8 crore; a YoY growth of 24 per cent.