Sify Technologies Ltd
SIFY Nasdaq Services-Computer Programming, Data Processing, Etc. Financials FY2017–FY2026
Last close · Oct 23, 2026
$11.63
0.0%
Revenue
Total sales reported in the income statement.
$508M
7.6%
vs prior year
Operating margin
Operating income as a share of revenue.
6.7%
1.1 pts
Net income
Profit after all expenses, interest and tax.
−$15.5M
Free cash flow
Cash from operations minus capital spending.
−$54.1M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
4.4%
1.3 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$843M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.21 EPS (TTM)
What Sify Technologies Ltd does
No business description yet.
- Legal name
- SIFY TECHNOLOGIES LTD
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 20-F · Jun 26, 2026
- Accession · CIK
- 0001554855-26-001437
0001094324
Revenue and margins
Sify Technologies Ltd had $508M of revenue in fiscal 2026, up 7.6% on the year before.
FY17
Revenue $275M
FY18
Revenue $321M
FY19
Revenue $308M
FY20
Revenue $324M
FY21
Revenue $328M
FY22
Revenue $363M
FY23
Revenue $416M
FY24
Revenue $430M
FY25
Revenue $472M
FY26
Revenue $508M
FY17
Gross 35.6%
Operating 5.2%
Net 3.5%
FCF 0.8%
FY18
Gross 35.1%
Operating 6.2%
Net 4.5%
FCF 2.2%
FY19
Gross 36.9%
Operating 8.1%
Net 5.0%
FCF −10.9%
FY20
Gross 37.4%
Operating 8.2%
Net 3.1%
FCF 4.3%
FY21
Gross 39.5%
Operating 9.8%
Net 6.3%
FCF 17.7%
FY22
Gross 40.6%
Operating 10.6%
Net 4.7%
FCF −16.9%
FY23
Gross 36.0%
Operating 7.9%
Net 2.0%
FCF −10.5%
FY24
Gross 37.2%
Operating 6.7%
Net 0.5%
FCF −14.6%
FY25
Gross 37.5%
Operating 5.7%
Net −2.0%
FCF −6.1%
FY26
Gross 40.2%
Operating 6.7%
Net −3.0%
FCF −10.7%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY17
Net income $9.6M
FY18
Net income $14.3M
FY19
Net income $15.3M
FY20
Net income $9.9M
FY21
Net income $20.6M
FY22
Net income $16.9M
FY23
Net income $8.4M
FY24
Net income $2.0M
FY25
Net income −$9.3M
FY26
Net income −$15.5M
FY17
Diluted EPS $0.40
FY18
Diluted EPS $0.57
FY19
Diluted EPS $0.59
FY20
Diluted EPS $0.33
FY21
Diluted EPS $0.68
FY22
Diluted EPS $0.54
FY23
Diluted EPS $0.27
FY24
Diluted EPS $0.07
FY25
Diluted EPS −$0.15
FY26
Diluted EPS −$0.21
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY17
Return on capital 9.2%
Return on equity 7.5%
Return on assets 2.9%
FY18
Return on capital 12.4%
Return on equity 10.8%
Return on assets 4.1%
FY19
Return on capital 17.6%
Return on equity 10.4%
Return on assets 3.8%
FY20
Return on capital 8.1%
Return on equity 6.5%
Return on assets 2.2%
FY21
Return on capital 12.9%
Return on equity 12.5%
Return on assets 4.3%
FY22
Return on capital 7.8%
Return on equity 9.1%
Return on assets 3.0%
FY23
Return on capital 5.4%
Return on equity 4.5%
Return on assets 1.3%
FY24
Return on capital 3.6%
Return on equity 1.0%
Return on assets 0.3%
FY25
Return on capital 3.1%
Return on equity −4.1%
Return on assets −1.0%
FY26
Return on capital 4.4%
Return on equity −7.1%
Return on assets −1.6%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$54.1M in fiscal 2026, −10.7% of revenue. Cash from operations minus capital spending.
FY17
Free cash flow $2.3M
FY18
Free cash flow $7.0M
FY19
Free cash flow −$33.7M
FY20
Free cash flow $13.8M
FY21
Free cash flow $58.1M
FY22
Free cash flow −$61.2M
FY23
Free cash flow −$43.6M
FY24
Free cash flow −$62.6M
FY25
Free cash flow −$28.9M
FY26
Free cash flow −$54.1M
FY17
Cash from operations $26.1M
Capital spending $23.8M
FY18
Cash from operations $32.9M
Capital spending $25.9M
FY19
Cash from operations $20.6M
Capital spending $54.3M
FY20
Cash from operations $71.1M
Capital spending $57.3M
FY21
Cash from operations $93.8M
Capital spending $35.8M
FY22
Cash from operations $30.1M
Capital spending $91.3M
FY23
Cash from operations $101M
Capital spending $145M
FY24
Cash from operations $71.7M
Capital spending $134M
FY25
Cash from operations $102M
Capital spending $131M
FY26
Cash from operations $81.2M
Capital spending $135M
Cash from operations
Capital spending
Dividends, buybacks and share count
Sify Technologies Ltd returned $0.0M to shareholders in fiscal 2026. The diluted share count rose 16.4%.
FY17
Dividends $2.5M
Buybacks —
FY18
Dividends $3.2M
Buybacks —
FY19
Dividends $3.1M
Buybacks —
FY20
Dividends $3.2M
Buybacks —
FY21
Dividends $0.0M
Buybacks —
FY22
Dividends $0.0M
Buybacks —
FY23
Dividends $0.0M
Buybacks —
FY24
Dividends $0.0M
Buybacks —
FY25
Dividends $0.3M
Buybacks —
FY26
Dividends $0.0M
Buybacks —
Dividends
Buybacks
FY17
Diluted shares 0.02B
FY18
Diluted shares 0.03B
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.03B
FY23
Diluted shares 0.03B
FY24
Diluted shares 0.03B
FY25
Diluted shares 0.06B
FY26
Diluted shares 0.07B
Balance sheet
Cash, debt and the ratios that show how comfortably Sify Technologies Ltd can carry it.
FY17
Cash $25.0M
Debt $52.5M
FY18
Cash $30.6M
Debt $53.5M
FY19
Cash $28.0M
Debt $14.0M
FY20
Cash $30.6M
Debt $107M
FY21
Cash $69.7M
Debt $129M
FY22
Cash $49.9M
Debt $196M
FY23
Cash $44.4M
Debt $262M
FY24
Cash $49.2M
Debt $360M
FY25
Cash $58.5M
Debt $507M
FY26
Cash $43.7M
Debt $453M
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $49.9M | $44.4M | $49.2M | $58.5M | $43.7M |
| Debt incl. finance leases | $196M | $262M | $360M | $507M | $453M |
| Net debt / EBITDA | 1.8x | 2.6x | 3.6x | 4.8x | 3.5x |
| Debt / equity | 1.0x | 1.4x | 1.7x | 2.2x | 2.2x |
| Interest coverage | 2.6x | 1.6x | 1.1x | 0.8x | 0.8x |
| Current ratio | 1.0x | 1.0x | 1.0x | 0.9x | 0.7x |
| Quick ratio | 0.9x | 0.9x | 0.9x | 0.8x | 0.7x |
| Total assets | $621M | $698M | $851M | $975M | $966M |
| Total liabilities | $430M | $514M | $635M | $740M | $765M |
| Shareholders' equity | $191M | $184M | $217M | $236M | $202M |
| Net debt (− = net cash) | $146M | $217M | $311M | $448M | $409M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✕ | ✕ | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ |
| Current ratio rose | — | ✓ | ✓ | ✕ | ✓ | ✓ | ✕ | ✓ | ✕ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ |
| Gross margin rose | — | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | — | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✕ | ✕ | ✓ |
| F-score | — / 3 | 7 / 9 | 6 / 9 | 5 / 9 | 6 / 9 | 5 / 9 | 5 / 9 | 6 / 9 | 3 / 9 | 5 / 9 |
| Accruals ratio | −5.0% | −5.3% | −1.3% | −13.8% | −15.4% | −2.4% | −14.0% | −9.0% | −12.2% | −10.0% |
| Altman Z'' | −0.70 | −0.07 | 0.40 | −0.03 | 0.30 | 0.49 | 0.34 | 0.34 | −0.00 | −0.46 |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $275M | $321M | $308M | $324M | $328M | $363M | $416M | $430M | $472M | $508M |
| Gross profit | $97.8M | $112M | $114M | $121M | $130M | $147M | $150M | $160M | $177M | $204M |
| Operating income | $14.3M | $20.0M | $25.1M | $26.5M | $32.2M | $38.6M | $33.0M | $29.0M | $26.7M | $34.1M |
| Interest expense | $6.5M | $7.7M | $10.4M | $14.9M | $13.0M | $14.7M | $20.9M | $26.6M | $32.5M | $44.8M |
| Pretax income | $9.6M | $14.3M | $15.3M | $14.4M | $21.6M | $24.8M | $12.7M | $4.3M | −$3.4M | −$10.6M |
| Income tax | $0.0M | $0.0M | $0.0M | $4.4M | $0.9M | $7.9M | $4.3M | $2.2M | $5.9M | $4.8M |
| Net income | $9.6M | $14.3M | $15.3M | $9.9M | $20.6M | $16.9M | $8.4M | $2.0M | −$9.3M | −$15.5M |
| Net income to common | $9.6M | $14.3M | $15.3M | $9.9M | $20.6M | $16.9M | $8.4M | $2.0M | −$9.3M | −$15.5M |
| Diluted EPS | $0.40 | $0.57 | $0.59 | $0.33 | $0.68 | $0.54 | $0.27 | $0.07 | −$0.15 | −$0.21 |
| Diluted shares | 0.02B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.06B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | $26.1M | $32.9M | $20.6M | $71.1M | $93.8M | $30.1M | $101M | $71.7M | $102M | $81.2M |
| Capital expenditure | $23.8M | $25.9M | $54.3M | $57.3M | $35.8M | $91.3M | $145M | $134M | $131M | $135M |
| Free cash flow | $2.3M | $7.0M | −$33.7M | $13.8M | $58.1M | −$61.2M | −$43.6M | −$62.6M | −$28.9M | −$54.1M |
| Depreciation and amortization | $26.2M | $27.2M | $21.9M | $32.3M | $38.2M | $44.1M | $49.4M | $57.7M | $66.6M | $82.3M |
| Stock-based compensation | $0.3M | $0.1M | $0.1M | $0.7M | $0.5M | $0.3M | $0.2M | $0.1M | $0.0M | $0.6M |
| Dividends paid | $2.5M | $3.2M | $3.1M | $3.2M | $0.0M | $0.0M | $0.0M | $0.0M | $0.3M | $0.0M |
| Dividends and buybacks | $2.5M | $3.2M | $3.1M | $3.2M | $0.0M | $0.0M | $0.0M | $0.0M | $0.3M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $25.0M | $30.6M | $28.0M | $30.6M | $69.7M | $49.9M | $44.4M | $49.2M | $58.5M | $43.7M |
| Total debt | $52.5M | $53.5M | $14.0M | $107M | $129M | $196M | $262M | $360M | $507M | $453M |
| Current assets | $187M | $216M | $247M | $220M | $235M | $290M | $272M | $290M | $294M | $265M |
| Current liabilities | $176M | $187M | $209M | $218M | $231M | $278M | $268M | $283M | $326M | $360M |
| Inventory | $18.2M | $9.9M | $24.8M | $17.2M | $19.3M | $31.8M | $23.6M | $40.7M | $46.3M | $30.8M |
| Property and equipment, net | $102M | $111M | $125M | $156M | $171M | $220M | $271M | $386M | $456M | $463M |
| Goodwill | $0.2M | $0.2M | $0.2M | $0.2M | $0.2M | $0.0M | $0.0M | $0.0M | — | — |
| Intangible assets | — | — | — | — | $32.7M | — | — | — | $8.1M | $6.4M |
| Total assets | $332M | $375M | $433M | $453M | $501M | $621M | $698M | $851M | $975M | $966M |
| Total liabilities | $204M | $237M | $277M | $303M | $321M | $430M | $514M | $635M | $740M | $765M |
| Shareholders' equity | $127M | $138M | $156M | $150M | $180M | $191M | $184M | $217M | $236M | $202M |
| Margins | ||||||||||
| Gross margin | 35.6% | 35.1% | 36.9% | 37.4% | 39.5% | 40.6% | 36.0% | 37.2% | 37.5% | 40.2% |
| Operating margin | 5.2% | 6.2% | 8.1% | 8.2% | 9.8% | 10.6% | 7.9% | 6.7% | 5.7% | 6.7% |
| EBITDA margin | 14.7% | 14.7% | 15.3% | 18.2% | 21.5% | 22.8% | 19.8% | 20.1% | 19.8% | 22.9% |
| Net margin | 3.5% | 4.5% | 5.0% | 3.1% | 6.3% | 4.7% | 2.0% | 0.5% | −2.0% | −3.0% |
| FCF margin | 0.8% | 2.2% | −10.9% | 4.3% | 17.7% | −16.9% | −10.5% | −14.6% | −6.1% | −10.7% |
| Returns | ||||||||||
| Return on capital | 9.2% | 12.4% | 17.6% | 8.1% | 12.9% | 7.8% | 5.4% | 3.6% | 3.1% | 4.4% |
| Return on capital employed | 9.2% | 10.7% | 11.2% | 11.3% | 11.9% | 11.3% | 7.7% | 5.1% | 4.1% | 5.6% |
| Return on equity | 7.5% | 10.8% | 10.4% | 6.5% | 12.5% | 9.1% | 4.5% | 1.0% | −4.1% | −7.1% |
| Return on assets | 2.9% | 4.1% | 3.8% | 2.2% | 4.3% | 3.0% | 1.3% | 0.3% | −1.0% | −1.6% |
| Return on tangible equity | 7.5% | 10.4% | 9.8% | 6.6% | 14.0% | 8.8% | 4.6% | 0.9% | −4.1% | −7.9% |
| Growth | ||||||||||
| Revenue growth | — | 16.7% | −4.0% | 5.1% | 1.2% | 10.7% | 14.6% | 3.5% | 9.6% | 7.6% |
| Net income growth | — | 49.5% | 6.7% | −34.9% | 107.5% | −18.2% | −50.3% | −75.7% | −554.8% | — |
| EPS growth | — | 42.8% | 3.5% | −43.9% | 106.9% | −20.7% | −49.8% | −75.7% | −325.5% | — |
| FCF growth | — | 209.5% | −580.5% | — | 320.0% | −205.3% | — | — | — | — |
| Share count change | — | 4.5% | 3.1% | 16.0% | 0.3% | 3.2% | −0.7% | −0.3% | 101.7% | 16.4% |
| Financial health | ||||||||||
| Net debt / EBITDA | 0.7x | 0.5x | −0.3x | 1.3x | 0.8x | 1.8x | 2.6x | 3.6x | 4.8x | 3.5x |
| Debt / equity | 0.4x | 0.4x | 0.1x | 0.7x | 0.7x | 1.0x | 1.4x | 1.7x | 2.2x | 2.2x |
| Interest coverage | 2.2x | 2.6x | 2.4x | 1.8x | 2.5x | 2.6x | 1.6x | 1.1x | 0.8x | 0.8x |
| Current ratio | 1.1x | 1.2x | 1.2x | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x | 0.9x | 0.7x |
| Quick ratio | 1.0x | 1.1x | 1.1x | 0.9x | 0.9x | 0.9x | 0.9x | 0.9x | 0.8x | 0.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 8.7% | 8.1% | 17.6% | 17.7% | 10.9% | 25.2% | 34.8% | 31.2% | 27.8% | 26.6% |
| Stock comp / revenue | 0.1% | 0.0% | 0.0% | 0.2% | 0.2% | 0.1% | 0.0% | 0.0% | 0.0% | 0.1% |
| Payouts / FCF | 111.8% | 46.2% | — | 22.8% | 0.0% | — | — | — | — | — |
| Quality scores | ||||||||||
| Piotroski F-score | — | 7.0 | 6.0 | 5.0 | 6.0 | 5.0 | 5.0 | 6.0 | 3.0 | 5.0 |
| Altman Z'' | −0.7 | −0.1 | 0.4 | −0.0 | 0.3 | 0.5 | 0.3 | 0.3 | −0.0 | −0.5 |
| Accruals ratio | −5.0% | −5.3% | −1.3% | −13.8% | −15.4% | −2.4% | −14.0% | −9.0% | −12.2% | −10.0% |
Source: SEC EDGAR XBRL filings (CIK 0001094324). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in INR under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. Per-share figures are per US-listed share (1 ADS = 6 ordinary shares). For information only — not investment advice. Check the original filings before relying on any figure.