SIFY

MKT CAP:$1B

Sify Technologies Limited

Market Cap

$1B

Communication Services·Telecommunications Services·🇮🇳 India·NASDAQ

Communication·Telecommunications·🇮🇳·NASDAQ

Stock Price

$15.55+$3.27 (+26.57%)

Apr 24, 2026

Company Details

Sify Technologies Limited provides integrated ICT solutions and services in India and internationally. It operates through Network Centric Services, Data Center Services, and Digital Services segments. The Network Centric Services segment o...

CEO

Raju Vegesna

IPO Date

Oct 19, 1999

Website

www.sifytechnologies.com

Key Metrics TTM

Revenue

$479M

+15.5% YoY

Net Income

-$14M

EPS (Diluted)

-$0.21

Free Cash Flow

$0

Revenue / Share

$6.61

Gross Margin

35.8%

Operating Margin

6.5%

Net Margin

-3.0%

FCF Margin

0.0%

P/S

2.4x

P/E

—

Earnings Reports

FY 2026

Mar 30, 2026

$501MEPS -$0.21

Q4 2026

Mar 30, 2026

$130M+25.9%EPS -$0.06

Q3 2026

Dec 31, 2025

$123M+10.5%EPS -$0.05

Q2 2026

Nov 4, 2025

$112M+2.5%EPS -$0.04

Q1 2026

Jul 18, 2025

$114MEPS -$0.06

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$63M	$23M	$5M
Q4 20	$61M	$24M	$5M
Q1 21	$56M	$23M	$12M
Q2 21	$63M	$24M	$6M
Q3 21	$66M	$17M	$6M
Q2 22	$74M	$30M	$8M
Q3 22	$72M	$21M	$8M
Q4 23	$94M	$22M	$6M
Q1 24	$91M	$34M	$7M
Q2 25	$109M	$42M	$8M
Q3 25	$111M	$40M	$6M
Q4 25	$103M	$41M	$4M
Q1 26	$114M	$44M	$6M
Q2 26	$112M	$45M	$8M
Q3 26	$123M	$49M	$7M
Q4 26	$130M	$33M	$10M

Valuation

Quarter	P/S	P/E
Q3 20	0.9x	23.0x
Q4 20	0.6x	18.2x
Q1 21	0.6x	20.2x
Q2 21	0.8x	23.9x
Q3 21	0.8x	22.3x
Q2 22	2.5x	58.1x
Q3 22	2.3x	49.0x
Q4 23	0.7x	21.0x
Q1 24	1.2x	46.8x
Q2 25	0.2x	11.4x
Q3 25	0.2x	—
Q4 25	0.6x	—
Q1 26	0.7x	—
Q2 26	2.0x	—
Q3 26	1.8x	—
Q4 26	1.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	$21M	-$4M
Q3 20	$0	$0
Q4 20	$32M	$10M
Q1 21	$0	$0
Q2 21	$0	$0
Q3 21	$0	$0
Q2 22	$0	$0
Q3 22	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 25	$0	$0
Q3 25	$0	$0
Q4 25	$0	$0
Q1 26	$0	$0
Q2 26	$0	$0
Q3 26	$0	$0

Capital Expenditures

Quarter	CapEx
Q2 20	$25M
Q3 20	$0
Q4 20	$22M
Q1 21	$0
Q2 21	$0
Q3 21	$0
Q2 22	$0
Q3 22	$0
Q4 23	$0
Q1 24	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0
Q1 26	$0
Q2 26	$0
Q3 26	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	+2.8%	+1.5%
Q4 20	+2.0%	+4.5%
Q1 21	-4.7%	-20.3%
Q2 21	+1.6%	+1.5%
Q3 21	+6.1%	+5.2%
Q2 22	+21.8%	+18.8%
Q3 22	+28.2%	+46.4%
Q4 23	+50.0%	+55.4%
Q1 24	+36.8%	+38.7%
Q2 25	+47.1%	+51.4%
Q3 25	+55.6%	+65.6%
Q4 25	+9.6%	+12.3%
Q1 26	+25.5%	+29.5%
Q2 26	+2.5%	+3.5%
Q3 26	+10.5%	+9.7%
Q4 26	+25.9%	+20.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$153.6K	0.2%
Q3 20	$0	0.0%
Q4 20	$335.0K	0.6%
Q1 21	$0	0.0%
Q2 21	$154.6K	0.2%
Q3 21	$0	—
Q2 22	$54.2K	0.1%
Q3 22	$0	0.0%
Q4 23	$87.6K	0.1%
Q1 24	$28.7K	0.0%
Q2 25	$6.5K	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%
Q1 26	$0	0.0%
Q2 26	$0	0.0%
Q3 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q3 20	—	—	$11M
Q4 20	—	—	$13M
Q1 21	—	—	$11M
Q2 21	—	—	$11M
Q3 21	—	—	$11M
Q2 22	—	—	$15M
Q3 22	—	—	$13M
Q4 23	—	—	$16M
Q1 24	—	—	$15M
Q2 25	$14M	$446.0K	—
Q3 25	—	—	$20M
Q1 26	—	—	$21M
Q2 26	$13M	$350.4K	—
Q3 26	—	—	$23M
Q4 26	—	—	$22M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$0	$41M	$41M
Q4 22	$40M	$0	$40M
Q1 23	$0	$80M	$80M
Q2 23	$15M	$0	$15M
Q3 23	$0	$31M	$31M
Q4 23	$39M	$0	$39M
Q1 24	$0	$78M	$78M
Q2 24	$41M	$0	$41M
Q3 24	$0	$82M	$82M
Q4 24	$44M	$14M	$57M
Q1 25	$0	$115M	$115M
Q2 25	$48M	$28M	$76M
Q3 25	$76M	$0	$76M
Q4 25	$53M	$14M	$67M
Q1 26	$41M	$0	$41M
Q2 26	$27M	$0	$27M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	60M	-0.7%	+0.4%
Q4 20	60M	+0.0%	+0.0%
Q1 21	60M	-0.4%	-0.4%
Q2 21	60M	+0.5%	-0.5%
Q3 21	60M	-0.1%	+0.0%
Q2 22	62M	+4.4%	+4.4%
Q3 22	60M	-4.3%	+0.4%
Q4 23	64M	+6.7%	+6.6%
Q1 24	64M	0.0%	+6.7%
Q2 25	72M	+13.4%	+15.8%
Q3 25	72M	+0.1%	+21.1%
Q4 25	72M	0.0%	+13.5%
Q1 26	72M	0.0%	+13.5%
Q2 26	72M	+0.1%	+0.2%
Q3 26	72M	0.0%	+0.1%
Q4 26	72M	0.0%	+0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	$23.6K	3K
Q4 20	$21.8K	3K
Q1 21	$20.0K	3K
Q2 21	$22.4K	3K
Q3 21	$23.7K	3K
Q2 22	$26.1K	3K
Q3 22	$25.2K	3K
Q4 23	$21.2K	4K
Q1 24	$20.4K	4K
Q2 25	$25.3K	4K
Q3 25	$25.8K	4K
Q4 25	$22.8K	5K
Q1 26	$25.3K	5K
Q2 26	$24.8K	5K
Q3 26	$27.3K	5K
Q4 26	$28.8K	5K

Revenue / Employee