SIFY TECHNOLOGIES LTD financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data SIFY TECHNOLOGIES LTD files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	318	312	304	331	357	406	427	466
Cost of revenue	207	197	191	200	212	260	268	291
Gross profit	111	115	114	131	145	146	159	175
Selling, general and administrative	67.6	70.5	59.9	61.9	65.2	69.7	78	87
Operating income	19.9	25.3	24.9	32.5	37.9	29.8	26	26.4
Interest expense	7.64	10.5	14	13.1	14.5	20.1	25.8
Interest income	1.99	0.67	2.57	2.34	0.97	2.71	4.05	0.15
Pre-tax income	14.2	15.5	13.5	21.8	24.4	12.4	4.22	-3.35
Income tax	0	0.04	4.17	0.93	7.79	4.21	2.2	5.83
Net income to minority interests	0	0	0	0	0	0	0	0
Net income	14.2	15.5	9.36	20.8	16.6	8.2	2.03	-9.17
EBITDA	46.8	47.5	55.3	71.1	81.2	78.1	83.3	92.2
EPS, basic	0.09	0.10	0.05	0.12	0.10	0.04	0.01	-0.02
EPS, diluted	0.09	0.10	0.05	0.11	0.09	0.04	0.01	-0.02

Balance sheet

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	30.6	28	30.8	69.4	49.9	44.4	49.2	58.4
Receivables	165	183	160	132	185	178	169	173
Inventory	9.93	24.8	17.3	19.2	31.8	23.6	40.7	46.3
Total current assets	216	247	221	234	290	272	290	310
Property, plant and equipment	111	125	157	170	220	271	386	455
Lease right-of-use assets			51.3	61.8	58.2	69.2	87.1	103
Total assets	376	433	454	499	621	698	851	972
Accounts payable	113	118	120	125	150	156	168	201
Short-term debt	22.6	48.1	57.9	78.5	93.8	69.5	79.9	83.5
Total current liabilities	188	209	219	230	278	268	283	323
Lease liabilities			19.5	24.1	22.6	22.7	31.9	42.3
Total liabilities	238	277	304	320	430	490	635	737
Paid-in capital	287	280	257	267	260	239	237	231
Retained earnings	-178	-155	-136	-119	-98.5	-82.6	-79.5	-91.2
Shareholders' equity	138	156	151	179	191	209	217	235
Total equity	138	156	151	179	191	209	217	235
Total liabilities and equity	376	433	454	499	621	698	851	972

Cash flow statement

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	14.2	15.5	9.36	20.8	16.6	8.2	2.03	-9.17
Depreciation and amortization	27	22.2	30.4	38.6	43.3	48.3	57.3	65.8
Cash from operations	32.6	20.8	66.9	94.8	29.6	101	59.8	101
Capital expenditures	-25.7	-54.9	-53.9	-36.1	-89.7	-141	-133	-130
Cash from investing	-27.6	-57.4	-57.4	-49.2	-100	-165	-147	-144
Stock issued	0.19	13.5	0	0
Dividends paid	-3.21	-3.15	-2.97	0	0
Cash from financing	-16.1	44.2	0.05	8.14	55	60.1	89.3	55.3
Exchange rate effect	-0.07	0.09	0	-0.05	0.03	0.02	0.02	-0.01
Free cash flow	6.94	-34	13	58.7	-60.1	-39.9	-73.6	-28.6
Income taxes paid	0.71	8.2	-3.97	1.46	16.8	16.6	15.4	8.44

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $13.35 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	37.5%	Gross profit / revenue.
Operating margin	5.7%	Operating income / revenue.
EBITDA margin	19.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.7%	Pre-tax income / revenue.
Net margin	-2.0%	Net income / revenue.
FCF margin	-6.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.7%	Cash from operations / revenue.
Return on equity (ROE)	-4.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.0%	Net income / average total assets.
Return on invested capital (ROIC)	12.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	18.7%	Selling, general and administrative expense / revenue.
Capex / revenue	27.8%	Capital expenditures / revenue.
D&A / revenue	14.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	1.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-11.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	1.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	10.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	10.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-552.4%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-300.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	69.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	50.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	8.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	14.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	16.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	16.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.96x	Current assets / current liabilities.
Quick ratio	0.72x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.18x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	75.8%	Total liabilities / total assets.
Working capital	-$12.9M	Current assets - current liabilities.
Tangible book value	$235.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.51x	Revenue / average total assets.
Fixed asset turnover	1.11x	Revenue / average property, plant and equipment.
Inventory turnover	6.70x	Cost of revenue / average inventory.
Days inventory	55 days	365 x average inventory / cost of revenue.
Receivables turnover	2.72x	Revenue / average receivables.
Days sales outstanding	134 days	365 x average receivables / revenue.
Days payables	231 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-42 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	128.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.02	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.02	Net income per basic share, as reported (split-adjusted).

Valuation

Metric	Value	How it is calculated
Market cap	$967.0M	Share price x shares outstanding.
Enterprise value	$908.6M	Market cap + total debt - cash - short-term investments.
P/S	2.07x	Market cap / revenue.
P/B	4.11x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.11x	Market cap / tangible book value, when positive.
P/OCF	9.57x	Market cap / cash from operations, when positive.
EV/Sales	1.95x	Enterprise value / revenue.
EV/EBIT	34.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.86x	Enterprise value / EBITDA, when both are positive.
FCF yield	-3.0%	Free cash flow / market cap.
Earnings yield	-0.9%	Net income / market cap (the inverse of P/E).

What was SIFY TECHNOLOGIES LTD's revenue in fiscal 2025?

SIFY TECHNOLOGIES LTD reported revenue of $466.1M for fiscal 2025, 9% higher than the year before.

Was SIFY TECHNOLOGIES LTD profitable in fiscal 2025?

No. It reported a net loss of $9.2M.

How much free cash flow did SIFY TECHNOLOGIES LTD generate in fiscal 2025?

Cash from operations of $101.0M minus capital expenditures of $129.6M left free cash flow of -$28.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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