Sify Technologies Ltd. Option Vesting Details Filed

TL;DR

Sify's option plans have complex vesting schedules over 2-5 years, impacting future share count.

AI Summary

Sify Technologies Ltd. filed an amendment (20-F/A) on January 13, 2025, related to its fiscal year ending March 31, 2024. The filing details stock option vesting schedules for three different plans, with varying vesting periods and installments over two to five years from the grant date. For example, Option Plan I has 4,304,600 options with 3/5ths vesting after one year and the rest over the next two years.

Why It Matters

This filing provides clarity on the potential future dilution from stock options, which is important for existing shareholders to understand the ownership landscape.

Risk Assessment

Risk Level: medium — The detailed option vesting schedules indicate potential future share dilution, which can impact stock value.

Key Numbers

• 4,304,600 — Options (Plan I) (Represents a portion of Sify's outstanding stock options with specific vesting terms.)
• 6,612,700 — Options (Plan II) (Represents a portion of Sify's outstanding stock options with specific vesting terms.)
• 4,052,800 — Options (Plan III) (Represents a portion of Sify's outstanding stock options with specific vesting terms.)

Key Players & Entities

• Sify Technologies Ltd. (company) — Filer of the 20-F/A amendment.
• 0001575872-25-000052 (filing_id) — Accession number for the filing.
• March 31, 2024 (date) — End of the reported fiscal year.
• January 13, 2025 (date) — Filing date of the amendment.
• 4,304,600 (dollar_amount) — Number of options in Option Plan I.
• 6,612,700 (dollar_amount) — Number of options in Option Plan II.
• 4,052,800 (dollar_amount) — Number of options in Option Plan III.

FAQ

Filing Documents

• sify-20240331.htm (20-F/A) — 15534KB
• sify060_ex12-1.htm (EX-12.1) — 34KB
• sify060_ex12-2.htm (EX-12.2) — 34KB
• sify060_ex13-1.htm (EX-13.1) — 12KB
• sify060_ex13-2.htm (EX-13.2) — 12KB
• sify060_ex15-1.htm (EX-15.1) — 7KB
• 0001575872-25-000052.txt ( ) — 61103KB
• sify-20240331.xsd (EX-101.SCH) — 184KB
• sify-20240331_cal.xml (EX-101.CAL) — 90KB
• sify-20240331_def.xml (EX-101.DEF) — 566KB
• sify-20240331_lab.xml (EX-101.LAB) — 935KB
• sify-20240331_pre.xml (EX-101.PRE) — 830KB
• sify-20240331_htm.xml (XML) — 20344KB

Controls and Procedures

Controls and Procedures 2 4 Item 17.

Financial Statements

Financial Statements 2 6 Item 18.

Financial Statements

Financial Statements 2 6 Item 19. Exhibits 9 8 3 I tem 3. Key Information

Selected Financial Data

Selected Financial Data Summary of Consolidated Financial Data You should read the summary of consolidated financial data below in conjunction with the Company's consolidated financial statements and the related notes, as well as the section entitled "Operating and Financial Review and Prospects," all of which are included elsewhere in this Annual Report. The summary of consolidated statements of income data for the five years ended March 31, 2024, 2023, 2022, 2021, and 2020 and the summary of consolidated Statement of Financial Position as of March 31, 2024, 2023, 2022, 2021, and 2020 have been derived from our audited consolidated financial statements and related notes to the consolidated financial statements which were prepared and presented in accordance with International Financial Reporting Standards (IFRS) as issued by International Accounting Standards Board (IASB). The Consolidated Statement of Income for the year ended March 31, 2024 and Consolidated Statement of Financial Position as of March 31, 2024 and 2023 are amended in the below summary. Historical results are not necessarily indicative of future results. 4 Sify Technologies Limited Consolidated Statement of Income (In thousands of Rupees, except share and per share data and as otherwise stated) Year ended March 31, 2024 2023 2022 2021 2020 2024 (Restated) Convenience translation into US$ in thousands, except share and per share data (See Note 2 ) (Restated) Revenue 35,633,922 33,403,726 27,025,675 24,319,542 22,952,067 427,399 Cost of goods sold and services rendered (22,378,001 ) (21,379,429 ) (16,042,056 ) (14,702,534 ) (14,364,827 ) (268,405 ) Other income 184,613 131,840 130,728 155,993 97,155 2,214 Selling, general and administrative expenses (6,499,562 ) (5,733,634 ) (4,943,575 ) (4,546,756 ) (4,513,646 ) (77,957 ) Depreciation and amortization (4,773,414 ) (3,971,865 ) (3,283,452 ) (2,835,632 ) (2,290,777 ) (57,253

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations: ( in million, except share data and where otherwise stated) Overview We are among the largest integrated ICT solutions and services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common data network infrastructure reaching more than 1600 cities and towns in India. This network also connects 53 Data Centers across India including Sify's 12 concurrently maintainable Data Centers across the cities of Chennai, Mumbai, Kolkata, Delhi, Bengaluru and Hyderabad and other Data Centers. Our mission is building a world in which our converged ICT ecosystem and our bring it on' attitude will be the competitive advantage to our customers. Our 7 core values which are called The Sify way' are 1) Put customers' needs first, 2) Be accountable, 3) Treat others with dignity, 4) Be action oriented, 5) Have the courage to confront issues, 6) Always remember that you are a part of Sify's team, and 7) Protect Sify's interest always. Our primary geographic markets is India. Our revenue is derived from services to enterprise customers, comprising Network services, Data Center services, Cloud and Managed services, Technology Integration services and Applications Integration services. We were incorporated on December 12, 1995 in Andhra Pradesh, India as Satyam Infoway Private Limited, a Company under the Indian Companies Act to develop and offer connectivity-based corporate services in India. We shifted our registered office to Chennai, Tamil Nadu from April 1, 2003. We completed our initial public offering of ADSs in the United States in October 1999. We listed our ADS on the NASDAQ Global Market on October 19, 1999. In February 2000, we completed our secondary offering of ADSs in the United States. 8 Digital revolution is driving our customers and prospective customers to transformation in every aspect of their businesses, which would

View Full Filing

View this 20-F/A filing on SEC EDGAR