Sify reports Consolidated Financial Results for FY 2025-26
Rhea-AI Summary
Sify (SIFY) reported FY 2025-26 revenue of INR 44,877 million, up 13% year-over-year, and EBITDA of INR 9,871 million, up 31% year-over-year. The group recorded a loss after tax of INR 1,366 million and CAPEX of INR 13,282 million for the year.
Data center momentum included 17MW sold during the year and 81MW contracted for delivery in FY 2026-27. Cash balance stood at INR 5,071 million and net debt was INR 33,534 million as of March 31, 2026.
Positive
- Revenue +13% YoY to INR 44,877 million
- EBITDA +31% YoY to INR 9,871 million
- Data center sold 17MW during FY 2025-26
- 81MW contracted for delivery in FY 2026-27
- Equity increased to INR 24,994 million
Negative
- Loss after tax INR 1,366 million
- Net debt INR 33,534 million (cash INR 5,071 million)
- Short-term borrowings rose to INR 15,400 million
- Digital services revenue -2% and segment result down 67%
News Market Reaction – SIFY
In the Apr 13 session, SIFY declined 5.88%, reflecting a notable negative market reaction. Argus tracked a trough of -18.4% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. Trading volume was elevated at 2.2x the daily average, suggesting increased selling activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jan 12 | Q3 FY25-26 earnings | Positive | +0.1% | Q3 revenue and EBITDA grew double digits despite reporting a quarterly loss. |
| Oct 25 | Q2 FY25-26 earnings | Positive | -1.8% | Q2 results showed revenue and EBITDA growth but continued losses and higher net debt. |
| Jul 18 | Q1 FY25-26 earnings | Positive | -3.8% | Q1 delivered 14% revenue growth and higher EBITDA yet remained net loss-making. |
| Apr 18 | FY 2024-25 results | Positive | -2.4% | FY 2024-25 revenue and EBITDA rose but the company still posted a loss after tax. |
| Jan 17 | Q3 FY24-25 earnings | Positive | -9.1% | Q3 revenue grew 21% with higher EBITDA, yet losses persisted and shares fell sharply. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases often showed revenue and EBITDA growth but were followed by predominantly negative next-day moves.
Over the last five earnings-related announcements, SIFY consistently reported revenue and EBITDA growth but remained loss-making. Quarterly updates highlighted expanding data center capacity, rising SDWAN deployments, and growing fibre nodes. The prior full-year FY 2024-25 results showed revenue of INR 39,886 Million and EBITDA of INR 7,562 Million with a loss after tax. Today’s FY 2025-26 results, with higher revenue and EBITDA yet another annual loss, extend this pattern of growth-focused but margin-pressured performance.
Key Terms
ebitda financial
ifrs financial
sdwan technical
sase technical
drhp regulatory
ipo regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Revenues of INR 44,877 Million. EBITDA of INR 9,871 Million.
Loss for the year INR 1,366 Million.
CHENNAI, India, April 13, 2026 (GLOBE NEWSWIRE) --
DETAILS OF EARNING CALL April 13, 2026 | 8:30 AM ET | 06:00 PM IST
Participant Dial in:
To join: +1-888-506-0062 (Toll Free in the U.S. or Canada) or +1-973-528-0011 (International) | Access Code: 877273
On the call: Mr. Raju Vegesna, Chairman of the Board and Mr. M P Vijay Kumar, Executive Director & Group CFO
Live webcast: https://www.webcaster5.com/Webcast/Page/2184/53862
Archives: +1-877-481-4010 (Toll Free in the U.S. or Canada) or +1-919-882-2331 (International). Passcode 53862
Replay is available until April 27, 2026.
HIGHLIGHTS
- Revenue was INR 44,877 Million, an increase of
13% over last year. - EBITDA was INR 9,871 Million, an increase of
31% over last year. - Loss before tax was INR 941 Million. Loss after tax was INR 1,366 Million.
- CAPEX for the year was INR 13,282 Million.
MANAGEMENT COMMENTARY
Mr. Raju Vegesna, Chairman, said, “India’s digital journey continues to accelerate with renewed clarity and purpose. The convergence of resilient infrastructure, progressive policy frameworks, and an increasingly innovation-driven enterprise ecosystem is positioning India as a cornerstone of the global digital space.
Enterprises today are moving beyond adoption to technology optimization. This evolution is not only strengthening businesses but also enabling inclusive growth, expanding opportunities across sectors and communities.
The recent Union Budget has recommended a tax holiday for foreign cloud players who utilize Indian data centers to serve global customers. This is expected to add to the tailwinds for domestic data center growth.
With sustained investments in digital infrastructure and such strong regulatory vision, India is reinforcing its credentials as technology hub. In this environment, Sify is uniquely positioned to partner with enterprises in their next phase of transformation, delivering integrated solutions that power growth and resilience.
I remain confident that our strategic direction, combined with India’s enduring strengths, will enable us to play a pivotal role in shaping a future-ready digital ecosystem.”
Mr. M P Vijay Kumar, ED & Group CFO, said, “Our businesses continue to deliver focused growth, with each unit capitalizing on its distinct market opportunities, attracting strategic investments, and building meaningful partnerships.
Our investment philosophy remains consistent and forward-looking—expanding our Data Center footprint into new and emerging locations for long-term growth, augmenting capacity at existing facilities to address immediate demand, and further strengthening our network and cloud interconnect ecosystem. In parallel, we continue to invest in our people, equipping them with the right skills, tools, and processes to drive innovation, efficiency, and customer success.
All these initiatives are being executed with a sharp focus on cost competitiveness, cash flow optimization, and fiscal discipline, ensuring that we maintain a strong financial foundation while supporting our growth ambitions.
In accordance with the Amendment Agreement to the Debenture Subscription Agreement with Kotak, the additional coupon payable on CCDs pursuant to the conversion as equity in February 2026 is recognised as expense in the Statement of Income.
We have received the final observations from SEBI on our DRHP for our Data Center subsidiary, Sify Infinit Spaces Limited, and will time the issue to a conducive market environment.
The cash balance at the end of the year was INR 5071 Million.”
BUSINESS HIGHLIGHTS
- The Revenue split between the businesses for the year was Network services
39% , Data Center services39% and Digital services22% . - Segment revenue for the year has increased by
12% in Network services,23% in Data Center services and it has decreased by2% in Digital Services. - Segment results for the year have increased by
91% in Network services,24% in Data Center services and it has decreased by67% for Digital Services. - The data center subsidiary sold 17MW of data center capacity in the year. Cumulatively, sold capacity stands at 129 MW.
- The business has contracted an additional 81MW to be delivered in FY 2026-27.
- As of March 31, 2026, Sify provides services via 1224 fibre nodes, an
8% increase over same quarter last year. - As of March 31, 2026, Sify has deployed 10340 SDWAN service points across the country.
CUSTOMER ENGAGEMENTS
Among the most prominent new contracts were the following:
Network Services
- Sify commissioned NLD capacity between Noida and Chandigarh and Hyderabad and Chennai.
- Sify was awarded a provisional approval that allows it to commence work to land an incoming international sub-sea cable.
- Sify was awarded a multi-terabit order on its national long-distance network.
- One of the largest global specialty generic pharmaceutical companies signed up for a multiyear contract for interconnects to the cloud at major DCs and branch network integration with Cloud backup solution.
- One of the fastest growing digital-first mutual funds contracted for network integration between data center, cloud and their offices. The contract also involves integrating multi service provider network for the customer to connect to a private cloud environment.
- A private health insurance major contracted for network integration and managed services using branch connectivity, SDWAN and SASE.
- One of India’s largest PSU Insurance players contracted for enhanced network capacity in branch locations and integrated managed services solutions.
Data Center Services
- A global hyperscaler contracted for their largest single-building liquid cooled capacity in the Indian subcontinent and another, signed up for their first core capacity in India.
- A global leader in cloud enterprise security provider has contracted to expand their capacity with Sify.
- Multiple contracts were also signed by a hyperscaler for their new Availability Zone (AZ) and by another for capacity expansion.
- A US based multinational internet service provider entering India, contracted with Sify for colocation space.
- A private network service player moved from the competition to Sify’s DC.
- An AI native programming platform and a digital wallet platform moved from their on-premise data center to Sify’s data center.
- The largest private sector bank signed a fresh contract to expand their capacity.
- A public sector has contracted to consolidate their DC, DR and NDR while another has contracted for expansion of their capacity.
Digital services
- The Cloud business signed its first North American customer for Private Cloud services, marking a key milestone in global customer acquisition.
- One of India’s largest automotive finance company contracted to expand its cloud footprint.
- Among the country’s oldest infrastructure players and a couple of private health insurance majors contracted with Sify to move their data center workload from on-premise to a hyperscale cloud.
- A private microcredit entrant contracted to move their workload to Sify cloudinfinit platform along with DRaaS.
- A scheduled bank contracted for backup-as-a-service (BaaS).
- A private health insurance major contracted for a complete rehaul of hardware and licenses.
FINANCIAL HIGHLIGHTS
| Unaudited Consolidated Income Statement as per IFRS | ||||||||
| (in INR millions) | ||||||||
| Description | Quarter ended | Year ended | ||||||
| March 2026 | March 2025 | March 2026 | March 2025 | |||||
| Revenue | 12,025 | 9,699 | 44,877 | 39,886 | ||||
| Cost of Sales | (7,023 | ) | (5,869 | ) | (26,843 | ) | (24,917 | ) |
| Gross Profit | 5,002 | 3,830 | 18,034 | 14,969 | ||||
| Other Operating Income | 118 | 76 | 376 | 363 | ||||
| Selling, General and Administrative Expenses | (2,062 | ) | (1,977 | ) | (8,123 | ) | (7,442 | ) |
| Depreciation and Amortisation expense | (1,968 | ) | (1,558 | ) | (7,274 | ) | (5,633 | ) |
| Operating Profit | 1,090 | 371 | 3,013 | 2,257 | ||||
| Investment Income | 11 | 76 | 34 | 188 | ||||
| Impairment loss on Investment | - | - | (26 | ) | - | |||
| Profit before financing and income taxes | 1,101 | 447 | 3,021 | 2,445 | ||||
| Finance income | - | - | 1 | 13 | ||||
| Interest expenses on borrowings and lease liabilities | (1,259 | ) | (762 | ) | (3,950 | ) | (2,742 | ) |
| Interest expenses on pension liabilities | (10 | ) | - | (13 | ) | (2 | ) | |
| Profit/(Loss) before income taxes | (168 | ) | (315 | ) | (941 | ) | (286 | ) |
| Income Tax Expense | (204 | ) | (263 | ) | (425 | ) | (499 | ) |
| Profit/(Loss) for the period | (372 | ) | (578 | ) | (1,366 | ) | (785 | ) |
| Profit/(Loss) attributable to: | ||||||||
| Owners of the Group | (361 | ) | (578 | ) | (1,355 | ) | (785 | ) |
| Non-controlling interest | (11 | ) | - | (11 | ) | - | ||
| Reconciliation with Non-GAAP measure | ||||||||
| Profit/(Loss) for the period | (372 | ) | (578 | ) | (1,366 | ) | (785 | ) |
| Add: | ||||||||
| Depreciation and Amortisation expense | 1,968 | 1,558 | 7,274 | 5,633 | ||||
| Net Finance Expenses | 1,259 | 630 | 3,949 | 2,294 | ||||
| Current Tax | 141 | 189 | 487 | 699 | ||||
| Deferred Tax | 63 | 74 | - | - | ||||
| Less: | ||||||||
| Deferred Tax | - | - | (62 | ) | (200 | ) | ||
| Other Income (including exchange gain/loss) | (129 | ) | 28 | (411 | ) | (79 | ) | |
| EBITDA | 2,930 | 1,901 | 9,871 | 7,562 | ||||
Segment Reporting:
| Particulars | 2025-26 | 2024-25 | ||||||||||||||
| Network Services (A) | Data center Services (B) | Digital Services (C) | Total (D=A+B+C) | Network Services (A) | Data center Services (B) | Digital Services (C) | Total (D=A+B+C) | |||||||||
| Revenue | ||||||||||||||||
| External customers Revenue | 17,634 | 17,519 | 9,724 | 44,877 | 15,781 | 14,196 | 9,909 | 39,886 | ||||||||
| Intersegment Revenue | 88 | 222 | 310 | - | 88 | 222 | 310 | |||||||||
| Operating expenses | (14,309 | ) | (9,544 | ) | (10,790 | ) | (34,643 | ) | (13,920 | ) | (7,769 | ) | (10,612 | ) | (32,301 | ) |
| Intersegment expenses | (252 | ) | - | (58 | ) | (310 | ) | (252 | ) | - | (58 | ) | (310 | ) | ||
| Segment Result | 3,073 | 8,063 | (902 | ) | 10,234 | 1,609 | 6,515 | (539 | ) | 7,585 | ||||||
| Unallocated Expense (Support Service Unit Costs) | (349 | ) | (58 | ) | ||||||||||||
| Depreciation & Amortisation | (7,274 | ) | (5,633 | ) | ||||||||||||
| Other income / (expense), net | 410 | 551 | ||||||||||||||
| Finance Income | 1 | 13 | ||||||||||||||
| Finance Expense | (3,963 | ) | (2,744 | ) | ||||||||||||
| Profit / (loss) before tax | (941 | ) | (286 | ) | ||||||||||||
| Income taxes (expense)/ benefit | (425 | ) | (499 | ) | ||||||||||||
| Profit / (loss) for the year | (1,366 | ) | (785 | ) | ||||||||||||
Equity and Debt:
| (In INR millions) | ||
| Particulars | Year ended | |
| Mar-26 | Mar-25 | |
| EQUITY | 24,994 | 16,725 |
| BORROWINGS | ||
| Long term | 23,205 | 28,237 |
| Short term | 15,400 | 7,304 |
| Less: Cash Balance | 5,071 | 6,836 |
| Net Debt | 33,534 | 28,705 |
About Sify Technologies
A multiple times award winner of the Golden Peacock from Institute of Directors for Corporate Governance, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses.
Sify’s infrastructure comprising state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs and even large Enterprises on the verge of a revamp.
More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Digital services and conduct their business seamlessly from more than 1700 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore. Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.
Non-IFRS Measures
This press release contains a financial measure not prepared in accordance with IFRS. In particular, EBITDA is referred to as “non-IFRS” measure. The non-IFRS financial measure we use may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies - refer to the reconciliation provided in the table labelled Financial Highlights for more information. In addition, these non-IFRS measures should not be considered in isolation as a substitute for, or as superior to, financial measures calculated in accordance with IFRS, and our financial results calculated in accordance with IFRS and reconciliation to those financial statements should be carefully evaluated.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.
For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2025, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.
For further information, please contact:
| Sify Technologies Limited Praveen Krishna Investor Relations & Public Relations +91 9840926523 praveen.krishna@sifycorp.com | 20:20 Media Nikhila Kesavan +91 9840124036 nikhila.kesavan@2020msl.com | Luri Group Lucia Domville 646.824.2856 lucia.domville@lurigroup.com |
