Sify Technologie Stock Price, News & Analysis

Sify Technologies (Nasdaq: SIFY) has announced a significant change to its American Depositary Shares (ADS) ratio. Effective October 4, 2024, the company will implement a 1:6 ADS ratio change, where one ADS will represent six equity shares, compared to the current 1:1 ratio. This change will have the same effect as a one-for-six reverse ADS split for ADS holders.

Key points:

• No change to the company's equity shares
• No impact on ADS holders' proportional equity interest
• Automatic exchange for uncertificated ADSs
• Certificated ADS holders must surrender for cancellation
• Fractional ADSs will be sold, with net proceeds distributed to holders
• Trading continues on NASDAQ under 'SIFY' symbol
• ADS price expected to increase proportionally, but not guaranteed

Sify Technologies (NASDAQ: SIFY) has become India's first NVIDIA DGX-Ready Data Center certified partner for liquid cooling. This certification validates Sify's data center deployment solution to support 130 KW/rack capacity, complying with ASHRAE's 30-year ambient temperature guidelines. The partnership enables Sify to offer high-density supercomputing and powerful performance through scalable AI infrastructure solutions.

Sify's CEO, Sharad Agarwal, highlighted that this certification allows the company to provide complete NVIDIA DGX-powered colocation along with advanced enterprise AI and data science software at their Mumbai-Rabale campus and upcoming facilities in Noida and Chennai-Siruseri. This move positions Sify as a key player in supporting the emerging AI ecosystem in the data center industry.

Sify Technologies (NASDAQ: SIFY) has announced the appointment of Sharad Agarwal as the new CEO of Sify Infinit Spaces , its wholly owned subsidiary. Agarwal brings a wealth of experience in technopreneurship across various domains including ecommerce, logistics, retail, Cloud, and Data Center. Prior to joining Sify, he worked at Vantage and Amazon Web Services, where he gained valuable experience in Data Center business development and capacity delivery.

Raju Vegesna, Chairman of Sify, expressed confidence in Agarwal's ability to drive strategic initiatives and operational excellence. Agarwal himself stated his commitment to maximizing Sify's potential across the entire ICT value chain, focusing on strategic growth, operational efficiency, and delivering cutting-edge solutions to clients and stakeholders.

Sify Technologies (NASDAQ: SIFY) has appointed C R Srinivasan as the CEO of Sify Digital Services , a wholly owned subsidiary. Srinivasan brings over 30 years of experience in global telecom, IT, cybersecurity, and digital services. He has a proven track record in large enterprises, start-ups, and platform-based businesses, with expertise in leveraging technology to enhance customer experiences and develop unique business models.

Prior to joining Sify, Srinivasan led Tata Communications' Cloud and Cybersecurity businesses and co-founded Sevenstrata IT Services. He was also part of the initial team that established Sify's network services. In his new role, Srinivasan will be responsible for building the business both in India and expanding into new territories, focusing on realizing Sify's potential in digital services and contributing to its position as a converged ICT ecosystem leader.

Sify Technologies (Nasdaq: SIFY) has received a notification from Nasdaq regarding a minimum bid price deficiency. The company's American Depositary Shares (ADSs) have not met the required $1.00 per share minimum bid price for continued listing on The Nasdaq Capital Market. Sify has been granted a 180-day compliance period until January 15, 2025, to regain compliance.

If the ADS bid price closes at or above $1.00 for at least ten consecutive trading days before the deadline, Sify will regain compliance. The company's ADSs continue to trade under the symbol 'SIFY'. If compliance is not achieved by January 15, 2025, Sify may be eligible for additional time, subject to meeting other listing requirements. The company is actively monitoring the situation and evaluating options to regain compliance, though there is no guarantee of success.

Sify Technologies (NASDAQ: SIFY), India's leading Digital ICT solutions provider, has announced its Q1 FY 2024-25 earnings call for Tuesday, July 23, 2024, before market opening. The call, previously deferred, will feature key executives including Chairman Raju Vegesna, Executive Director & Group CFO M P Vijay Kumar, and CEO Kamal Nath.

Participants can join via phone at +1-888-506-0062 (US/Canada Toll-Free) or +1-973-528-0011 (International). The call will be simulcast online at Sify's investor relations website. A replay will be available until July 30, 2024, accessible by phone or online archive.

Sify Technologies (NASDAQ: SIFY), a leading Digital ICT solutions provider in India, has announced the postponement of its Q1 earnings call originally scheduled for July 19, 2024, at 8:30 AM ET. The delay is attributed to technical issues on the teleconference vendor platform, which were beyond the company's control. Sify has expressed regret for the inconvenience caused to investors and stakeholders. The company has committed to announcing a new date for the earnings call as soon as the technical problems are resolved, ensuring that investors will receive the quarterly financial update at the earliest possible time.

Sify Technologies (NASDAQ: SIFY) reported its Q1 FY 2024-25 financial results, showing mixed performance. Revenue increased 10% year-over-year to INR 9,421 Million, while EBITDA grew 3% to INR 1,784 Million. However, the company reported a loss after tax of INR 105 Million.

Key highlights include:

• CAPEX of INR 2,656 Million
• Commissioned 6.5 MW data center capacity in Mumbai
• Revenue split: Data Center colocation services 36%, Digital services 23%, Network services 41%
• 1055 fiber nodes across India, up 16% YoY
• 9415 SDWAN service points deployed

Management remains optimistic about India's growth prospects and Sify's position to capitalize on digital transformation opportunities.

Sify Technologies (NASDAQ: SIFY), a premier Digital ICT solutions provider in India, will release its unaudited IFRS financial results for Q1 FY 2024-25 on July 19, 2024, before market open. The report will cover the quarter ending June 30, 2024.

A conference call hosted by Chairman Raju Vegesna, Group CFO M P Vijay Kumar, and CEO Kamal Nath will take place at 8:30 AM ET. Stakeholders can participate by dialing toll-free numbers in the U.S. or Canada or joining an online webcast.

The webcast will be available live and archived on Sify's investor website. A replay of the conference call will be accessible until July 26, 2024.