Sify Technologies Files Half-Year Financials

TL;DR

Sify Tech dropped its 6-K with Sept 30 financials, check the balance sheet.

AI Summary

Sify Technologies Limited filed a Form 6-K for the half-year ended September 30, 2024. The filing includes unaudited condensed consolidated interim financial statements, specifically the statement of financial position. The company is registered in India and its principal executive office is located in Chennai.

Why It Matters

This filing provides investors with an update on Sify Technologies' financial health and position as of September 30, 2024, allowing for assessment of recent performance.

Risk Assessment

Risk Level: low — This is a routine financial filing providing interim financial statements, not indicating any immediate operational or financial distress.

Key Players & Entities

• Sify Technologies Limited (company) — Registrant
• September 30, 2024 (date) — Reporting period end date
• Chennai, India (location) — Principal executive office location

FAQ

Key Financial Figures

• $ — s. In this Report, references to “$,” “Dollars” or &ldquo
• $1.00 — k of India (RBI), which was 83.7888 per $1.00. Our financial statements are presente

Filing Documents

• sify061_6k.htm (6-K) — 1147KB
• 0001575872-25-000058.txt ( ) — 1148KB

Financial Statements

Item 1. Financial Statements a) Unaudited Condensed Consolidated Interim Statement of Financial Position 4 b) Unaudited Condensed Consolidated Interim Statement of Income 6 c) Unaudited Condensed Consolidated Interim Statement of Comprehensive Income 7 d) Unaudited Condensed Consolidated Interim Statement of Changes in Equity 8 e) Unaudited Condensed Consolidated Interim Statement of Cash Flows 9 f) Notes to the Unaudited Condensed Consolidated Interim Financial Statements 11

Information on

Item 2. Information on the Company 33

Management’s

Item 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations 44 Item 4. Quantitative and Qualitative Disclosure About Market Risk 65 Item 5. Controls and Procedures 66

Other

Part II Other Information 67 Item 1. Legal Proceedings 67 Item 1A. Risk Factors 67 Item 2 Unregistered Sale of Equity Securities and Use of Proceeds 67 Item 3. Defaults Upon Senior Securities 67 Item 4. Mine Safety Disclosures 67 Item 5. Other Information 67 Item 6. Exhibits 68 2 of 69 Currency of Presentation and Certain Defined Terms Unless the context otherwise requires, references in this Report to “we,” “us,” the “Company,” “Sify” or “Satyam Infoway” are to Sify Technologies Limited, a limited liability Company organized under the laws of the Republic of India. References to “U.S.” or the “United States” are to the United States of America, its territories and its possessions. References to “India” are to the Republic of India. In January 2003, we changed the name of our Company from Satyam Infoway Limited to Sify Limited. In October 2007, we again changed our name from Sify Limited to Sify Technologies Limited. “ Sify”, “SifyMax.in,”, “Sify e-ports” and “Sify online” are trademarks used by us for which we have already obtained registration certificates in India. All other trademarks or trade names used in this Report are the property of their respective owners. In this Report, references to “$,” “Dollars” or “U.S. dollars” are to the legal currency of the United States, and references to “Rs,”, “.”, “rupees” or “Indian rupees” are to the legal currency of India . References to a particular “fiscal” year are to our fiscal year ended March 31 of such year. For your convenience, this Report contains translations of some Indian rupee amounts into U.S. dollars which should not be construed as a representation that those Indian rupee or U.S. dollar amounts could have been, or could be, converted into U

Forward-looking Statements

Forward-looking Statements In addition to historical information, this Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities 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. For a discussion of some of the risks and important factors that could affect the Company’s future results and financial condition, please see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our Annual Report on Form 20-F/A for the fiscal year ended March 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on January 13, 2025. The forward-looking statements contained herein are identified by the use of terms and phrases such as “anticipate”, believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “objectives”, “outlook”, “probably”, “project”, “will”, “seek”, “target” and similar terms and phrases. Such forward-looking • our expectations as to future revenue, margins, expenses and capital requirements; • our exposure to market risks, including the effect of foreign currency exchange rates and interest rates on our financial results; • the effect of the international economic slowdown on our business; • our ability to generate and manage growth and to manage our international operations; • our ability to satisfy the standards for continued listing of our ADSs on the Nasdaq Capital Markets;

Financial Statements have been approved for issue by the Board of Directors on January 13, 2025

Financial Statements have been approved for issue by the Board of Directors on January 13, 2025. b. Functional and presentation currency Items included in the financial statements of each Group entity are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). Indian rupee is the functional currency of Sify and its Indian subsidiary. US dollar is the functional currency of Sify’s foreign subsidiaries located in the US and Singapore. The Unaudited Condensed Consolidated Interim Financial Statements are presented in Indian Rupees which is the Group’s presentation currency. All financial information presented in Indian Rupees has been rounded up to the nearest thousand except where otherwise indicated. Convenience translation: Solely for the convenience of the reader, the financial statements as of and for the quarter and half year ended September 30, 2024 have been translated into United Mumbai on September 30, 2024 for wire transfers in Indian rupees as published by the Reserve Bank of India which was 83.7888 per $1.00. No representation is made that the Indian rupee amounts have been, could have been or could be converted into United States dollar at such a rate or at any other rate on September 30, 2024 or at any other date. c. Use of estimates The preparation of these Unaudited Condensed Consolidated Interim Financial Statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses during the period. Accounting estimates could change from period to period. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisio

financial statements as at and for the year ended March 31, 2024

financial statements as at and for the year ended March 31, 2024. Early adoption of IFRS-18- Presentation and Disclosure in Financial Statements The International Accounting Standard Board’s (“IASB”) issued IFRS 18 (Presentation and Disclosure in Financial Statements) replacing IAS 1 (Presentation of Financial categories - operating, investing and financing, and (ii) the presentation of subtotals for operating profit or loss and profit or loss before financing and income taxes. Although the IASB set an effective date as January 1, 2027, the Company has begun adhering to IFRS 18 with its unaudited consolidated financial statements from the quarter ended June 30, 2024. All prior periods presented herein have been presented in accordance with the new structure. There is no change in total income or net profit. Basis of consolidation The financial statements of the Group companies are consolidated on a line-by-line basis. Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated. These financial statements are prepared by applying uniform accounting policies in use at the Group. Subsidiaries are entities controlled by the Company. Control exists when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Thus, the Company controls an investee if and only if the Company has all the following: (a) power over the investee; (b) exposure, or rights, to variable returns from its involvement with the investee; and (c) the ability to use its power over the investee to affect the amount of the Company’s returns. Generally, there is a presumption that majority of voting rights results in control. To support this presu

View Full Filing

View this 6-K filing on SEC EDGAR