Sify Technologies posted full-year FY 2025-26 revenue of INR 44,877 million (+13% YoY) and EBITDA of INR 9,871 million (+31% YoY). The company reported a net loss of INR 1,366 million, widening from INR 785 million the prior year, driven by higher finance costs. After-hours stock movement was modestly negative, with SIFY pre-market on April 13, 2026 trading at $13.40, down ~2.7% from the prior close of $13.77.
About Sify Technologies
Sify Technologies Limited (NASDAQ: SIFY) is India’s most comprehensive ICT service and solutions provider, headquartered in Chennai, India. Founded in 1995, the company operates at the intersection of Data Centers, Networks, Cloud, and Digital services – offering an integrated “single pane” approach to enterprise digital infrastructure. As of April 2026, Sify commands a market capitalization of approximately $996 million (~INR 83 billion), placing it in the small-cap category, with an enterprise value of approximately $1.40 billion.
The company serves more than 10,000 businesses across 1,700+ cities in India, with international presence in North America, the United Kingdom, and Singapore. Sify’s employee count stands at approximately 4,406, and the stock carries no dividend yield. The trailing P/E ratio is not applicable given the company’s current net loss position. Sify’s 52-week trading range spans $3.80 to $17.85, reflecting a remarkable +248% one-year stock return through April 2026.
Top Financial Highlights
- Total revenue reached INR 44,877 million, increasing 13% from INR 39,886 million in the prior year.
- EBITDA stood at INR 9,871 million, rising 31% from INR 7,562 million, reflecting improved operating performance.
- Gross profit totaled INR 18,034 million, compared to INR 14,969 million in FY 2024–25, with gross margin at approximately 40.2%.
- Operating profit was INR 3,013 million, up from INR 2,257 million in the previous year.
- Net loss widened to INR 1,366 million, with loss attributable to owners at INR 1,355 million, compared to INR 785 million in the prior year.
- Loss before tax reached INR 941 million, compared to a loss of INR 286 million in FY 2024–25.
- Interest expenses increased to INR 3,950 million, up from INR 2,742 million, remaining the primary driver of higher losses.
- Capital expenditure for FY 2025-26 was INR 13,282 million, reflecting ongoing infrastructure expansion.
- Cash balance as of March 31, 2026 stood at INR 5,071 million, down from INR 6,836 million a year earlier.
- Net debt increased to INR 33,534 million, compared to INR 28,705 million in the prior year.
- Equity expanded to INR 24,994 million, up from INR 16,725 million, indicating strong capital infusion.
- Q4 FY26 revenue reached INR 12,025 million, rising 24% from INR 9,699 million in Q4 FY25.
- The data center subsidiary received final regulatory observations for its IPO, with timing dependent on market conditions.
- The contracted pipeline includes 81 MW of additional data center capacity planned for delivery in FY 2026-27.
Beat or Miss?
Analyst consensus estimates for the full year were not publicly detailed in the press release. The table below compares reported metrics against prior guidance or consensus where available:
| Metric | Reported (FY 2025-26) | Estimated / Prior Guidance | Difference / Analysis |
| Total Revenue | INR 44,877 Million | INR ~43,900M (implied from Q3 run-rate) | Slight beat; 13% YoY growth achieved |
| EBITDA | INR 9,871 Million | N/A (no public guidance) | +31% YoY; strong margin expansion |
| Net Loss | INR (1,366) Million | Analysts forecast $0 EPS (consensus) | Wider-than-expected loss due to finance charges |
| Q4 Revenue | INR 12,025 Million | INR ~11,500M (analyst est. ~$16.3B INR) | Beat; +24% QoQ growth |
| CAPEX | INR 13,282 Million | N/A | Reflects continued aggressive expansion |
| Cash on Hand | INR 5,071 Million | N/A | Down YoY as investment cycle continues |
What Leadership Is Saying?
Chairman – Mr. Raju Vegesna
“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.
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. 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.”
Group CFO – Mr. M P Vijay Kumar (ED & Group CFO)
“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.
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. 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 5,071 Million.”
Historical Performance (FY YoY Comparison)
| Category | FY 2025-26 | FY 2024-25 | Change (%) |
| Total Revenue | INR 44,877 Million | INR 39,886 Million | +13% |
| Gross Profit | INR 18,034 Million | INR 14,969 Million | +20.5% |
| EBITDA | INR 9,871 Million | INR 7,562 Million | +30.5% |
| Operating Profit | INR 3,013 Million | INR 2,257 Million | +33.5% |
| Net Loss | INR (1,366) Million | INR (785) Million | -74% (loss widened) |
| Interest Expenses | INR 3,950 Million | INR 2,742 Million | +44% |
| D&A Expense | INR 7,274 Million | INR 5,633 Million | +29.1% |
| CAPEX | INR 13,282 Million | N/A | – |
| Cash Balance | INR 5,071 Million | INR 6,836 Million | -25.8% |
| Net Debt | INR 33,534 Million | INR 28,705 Million | +16.8% |
| Equity | INR 24,994 Million | INR 16,725 Million | +49.4% |
Segment Performance (FY 2025-26 vs. FY 2024-25)
| Segment | FY 2025-26 Revenue | FY 2024-25 Revenue | Change (%) | Segment Result FY26 | Segment Result FY25 | Result Change |
| Network Services | INR 17,634M | INR 15,781M | 12% | INR 3,073M | INR 1,609M | +91% |
| Data Center Services | INR 17,519M | INR 14,196M | 23% | INR 8,063M | INR 6,515M | +24% |
| Digital Services | INR 9,724M | INR 9,909M | -2% | INR (902)M | INR (539)M | Deteriorated |
| Total | INR 44,877M | INR 39,886M | 13% | – | – | – |
Competitor YoY Comparison
This table benchmarks Sify’s data center and digital infrastructure segment against key Indian peers for FY 2024-25 (the most recent period for which competitor full-year data is available)
| Company | FY 2024-25 Revenue | FY 2023-24 Revenue | YoY Change | Key Metric |
| Sify Technologies (Data Center only) | INR 17,519M (~INR 1,752 Cr) | INR 14,196M (~INR 1,420 Cr) | +23% | 129 MW cumulative capacity sold |
| STT GDC India (Data Center) | INR 2,354 Cr (~INR 23,540M) | INR 1,998 Cr | +17.9% | Operating margin ~46% |
| CtrlS Datacenters | INR 1,567 Cr (~INR 15,670M) | INR 1,339 Cr | +17% | ~130 MW capacity as of Aug 2025 |
| NTT India (DC + IT Services combined) | ~INR 46,490M (~₹4,649 Cr) | ~INR 38,105M (~₹3,810 Cr) | +22% | Crossed $550M combined revenue in FY24 |
How the Market Reacted?
Sify reported its FY 2025-26 results before market open on April 13, 2026 – today’s session. Prior to the earnings release, the stock was trading in pre-market at approximately $13.40, down about 2.7% from its prior close of $13.77 on April 10, 2026. SIFY’s stock has been on a significant upward trajectory over the past year, with a one-year return of approximately +248% to +253%, rising from a 52-week low of $3.80 to a high of $17.85.
The initial reaction to the FY26 full-year results appears cautiously mixed: while top-line growth (+13% revenue, +31% EBITDA) is constructive, the widening net loss (INR 1,366 million vs. INR 785 million) driven by surging finance costs may weigh on sentiment in the near term. A key positive catalyst is the SEBI green light on the DRHP for the Data Center subsidiary IPO (Sify Infinit Spaces Limited), which could serve as a significant value unlock event for shareholders once market conditions are favorable.
