You are here » Home » Companies » Company Overview » Sonata Software Ltd

Sonata Software Ltd.

BSE: 532221 Sector: IT
NSE: SONATSOFTW ISIN Code: INE269A01021
BSE 12:05 | 26 Apr 352.80 -11.35
(-3.12%)
OPEN

365.05

HIGH

373.35

LOW

350.40

NSE 11:59 | 26 Apr 352.50 -13.05
(-3.57%)
OPEN

366.00

HIGH

374.70

LOW

350.10

OPEN 365.05
PREVIOUS CLOSE 364.15
VOLUME 38353
52-Week high 386.40
52-Week low 142.95
P/E 27.22
Mkt Cap.(Rs cr) 3,711
Buy Price 352.20
Buy Qty 145.00
Sell Price 353.85
Sell Qty 73.00
OPEN 365.05
CLOSE 364.15
VOLUME 38353
52-Week high 386.40
52-Week low 142.95
P/E 27.22
Mkt Cap.(Rs cr) 3,711
Buy Price 352.20
Buy Qty 145.00
Sell Price 353.85
Sell Qty 73.00

Sonata Software Ltd. (SONATSOFTW) - Company History

Sonata Software Ltd (SSL), initially set up in 1986 as a division of Indian Organic Chemicals Ltd (IOCL). Promoters viz. Bhupati Investments and Finance Ltd, S B Ghia, M D Dalal, Rajan Raheja & family have acquired the stake in SSL over a period of time. Sonata,a division of IOCL was later spun off as an independent company namely, Sonata Software Ltd, in October 1994 for a consideration of Rs 8.14 crs. As a part of restructuring plan, IOCL was disposed of and sold its equity holding in SSL to the present promoters for a consideration of Rs 78 per share and Rs 87 per share based on the valuation certificate issued by IOCL's auditors and in consultation with financial institution. The subsidiaries of Sonata are Sonata Information Technology Ltd, Offshore Digital Services Inc., Abisko Development Ltd and Sonata Software GmbH. In September 1998, the company issued bonus issue at a ratio of 13 shares for every 10 shares held. To provide funds for expansion of the computing and communication infrastructure of software development facalities for exports at Bangalore, the company came out with the public issue of 25,22,000 Equity shares of Rs 10 each at a premium of Rs 80 per share aggregating to Rs 22.70 Crs. Sonata is giving more importance in specific areas in R&D centre, like Focus in Technology, Software Engineering, Productizing and Branding Services. For technology company having strong alliance with Global IT companies like Microsoft, Oracle & Lotus to access to technology by participating in beta programme and business partner programme. The company has been doing research in the area of e-commerce which lead to enolving a set of services Viz-web-enablement, Business Intelligence & Technology deployment service branded as 'e-Sonata'. With the efforts spend in R&D, company has to executing large project in area of EJB, DCOM & J2EE, Java. New branded e-Sonata executing medium to large e-commerce projects & several new addition to the portfolio of international customers in the area of B2B and B2C. On 29th Jun. 2000, it floated a wholly-owned subsidiary- Sonata Information Technology, to take over the Indian operations business of Sonata comprising of Product Reselling. It has also picked up 26% ie. 8.33 mln Fully Convertible Preferred stocks in SpinAway eBusiness Solutions Inc. USA for $2 mln funded entirely from internal resources. The company has achieved Level 5, the highest possible through an assessment on the Capability Maturity Model (CMM) Based Appraisal or Internal Process Improvement (CBA-IPI) developed at Carnegia Mellon University's Software Engineering Institute (SEI). During 2001-02 the company has invested Rs.106.80 lacs in Offshore Digital Services Inc (USA),whereby the ODSI became a subsidiary of Sonata. It has also invested US$ 6.5 Mn in 65,00,000 shares of Series A Redeemable Preferred Stock of ODSI. The company has been expanding its customized vertical focused family of frameworks,SONNETS,on Microsoft Business Solutions-Axapta and Microsoft Business Solutions CRM.The first wave of solution frameworks is targeted to address the unique requirements of the Consumer Packaged Goods(CPG) and Independent Software Vendors(ISV) verticals. With this expansion of SONNETS,the company is in business applications space. During 2004-05 the company has setup its 3rd development center in Bangalore and this was setup as a new STP unit with a total area of 35000 sq.feet with a capacity of almost 300 people. Further the company has setup a new STP unit in Hyderabad with a total area of 78,000 Sq.feet with a capacity of 800 people. During October 2004 the company has setup Sonata Software GmbH, a wholly owned subsidiary in Frankfurt, Germany. In October 2005 the company has setup a offshore development center for Cramer and under this agreement the company will provide development,testing, product maintenance and customer support services to Cramer. In 2006, The company has set-up new Campus/Development Center in Poppalguda, Hyderabad. The Andhra Pradesh Government was allotted eight acre land at poppalguda, Hyderabad.