Multibagger Sonata Software 700% Dividend, Revenue Up 55%: Brokerage Says Buy Stock

IT company Sonata Software declared to the stock exchanges that the management has decided to offer a 700% interim dividend to the shareholders, which amounts to Rs. 7 per share. The record date has been fixed to be on November 1 and the dividend payment date will be on or after November 14. Top brokerage firm HDFC Securities suggests buying the stock of Sonata Software with a target price of Rs. 680. The current market price of the company stood at around Rs. 511.30 up by 0.96%, on October 20.

The company stated, "Declared an interim dividend of Rs. 7.00 per share (700 % on par value of Re. 1) for the financial year 2022-23. The record date for payment of the interim dividend will be on 1st November 2022. The interim dividend will be paid to the registered shareholders on or after Monday, 14 November 2022, through electronic mode or by dividend warrants, as applicable." Prior to this, the company also offered a dividend of Rs. 13 Per Share, in June, 2022.

Sonata Software recently announced that its consolidated Q2 FY22-23 PAT stood at Rs. 112.7 crore, which increased by 24% YoY. Additionally, its revenues stood at Rs. 1,496.0 crore, which grew 55% YoY.

Sonata Software - stock performance on NSE

In the last 1 month its share price has fallen by 5.92%, in the last 6 months its share price fell by 14.62%. Similarly, in the last 1 year its share price fell by 25.71%. However, this multibagger stock has given 279.47% to investors in the last 5 years.

The 52-week high level of this stock is Rs. 768.68, and the 52-week low level of this stock is Rs. 457.58. This mid-cap company has a market capitalization of Rs. 7,173 crore.

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