Latest news with #Modernization
Business Standard
31-07-2025
- Business
- Business Standard
Sonata Software Q1 FY26 Consolidated PAT Grew 1.7% QoQ, And Announces First Interim Dividend of Rupees 1.25 Per Share
PRNewswire Mumbai (Maharashtra) [India], July 31: Sonata Software (NSE: SONATSOFTW) (BSE: 532221), a leading Modernization Engineering Company, today reported its unaudited financial results for the Quarter ended June 30, 2025. Commenting on the Q1 performance, Mr. Samir Dhir, MD & CEO of Sonata Software said, "International IT Services Q1 marked steady progress with revenue growth of 0.6% QoQ. We secured three large deals - two in BFSI and one in TMT - underscoring our focus on large deals and execution strength. Our focused investments in Healthcare and BFSI have scaled from 13% to 32% of revenue over three years, validating our diversification strategy. As clients accelerate modernization to stay competitive, we remain confident in our long-term growth trajectory." Mr. Sujit Mohanty, MD & CEO of Sonata Information Technology Limited added, "We gained new clients in cloud and data protection services. Our continued investments and partnerships with leading cloud providers position us well to grow revenue from cloud-managed services in the coming quarters." Financial Highlights for Q1'26: * International IT Services: * In USD terms, revenue for Q1'26 stood at $81.8 million, showing a growth of 0.6% QoQ and in CC terms, showing a decline of 0.9% QoQ. * In Rupee terms, revenue for Q1'26 stood at ₹699.9 crores, showing a decline of 0.3% QoQ. * EBITDA (before other income and forex) for Q1'26 stood at 16.6%, showing a growth of 0.1bps QoQ. * PAT for Q1'26 stood at ₹70.7 crores, showing a growth of 13.5% QoQ * DSO stood at 62 days in Q1'26, compared to 61 days in Q4'25. * ROCE stood at 14.7% in Q1'26, compared to 16.3% in Q4'25. * RONW stood at 20.9% in Q1'26, compared to 19.3% in Q4'25. * 7 new customers were added during the quarter, including a mega deal of $73 M AI-led Digital Modernization Deal with a Leading US TMT Company. * Domestic Products & Services: * Revenue for Q1'26 stood at ₹2274.7 crores, showing a growth of 18.6% QoQ. * Gross contribution for Q1'26 stood at ₹68.5 crores, showing a decline of 12.6% QoQ. * EBITDA (before other income and forex) for Q1'26 stood at ₹44.0 crores, showing a decline of 22.1% QoQ. * PAT for Q1'26 stood at ₹38.6 crores, showing a decline of 14.6% QoQ. * DSO stood at 63 days in Q1'26, compared to 46 days in Q4'25. * ROCE stood at 33.6% in Q1'26, compared to 43.2% in Q4'25. * RONW stood at 32.5% in Q1'26, compared to 47.7% in Q4'25. * Consolidated: * Revenue for Q1'26 stood at ₹2,965.2 crores, showing a growth of 13.3%. * EBITDA (before other income and forex) for Q1'26 stood at ₹159.6 crores, showing a decline of 7.6% QoQ. * PAT for Q1'26 stood at ₹109.3 crores, growth of 1.7% QoQ. * Cash and cash equivalents (gross) stood at INR 600 Crs. and (net) stood at negative ₹ 62.5 Crores in Q1'26. * ROCE stood at 18.5% in Q1'26, compared to 21.9% in Q4'25. * RONW stood at 24.0% in Q1'26, compared to 25.2% in Q4'25. About Sonata Software Limited In today's market, there is a unique duality in technology adoption. On one side, extreme focus on cost containment by clients, and on the other, deep motivation to modernize their Digital storefronts to attract more consumers and B2B customers. Sonata Software, with $1 billion revenue, is the leading Modernization company. Our unique Modernization approach through helps create efficient and agile digital businesses to drive intelligent ecosystems of the future. Our bouquet of Modernization Engineering services cuts across Data, Cloud, Dynamics, Automation, Cyber Security, and around newer technologies like Generative AI, Microsoft Fabric, and other modernization platforms. Our unique and innovative Responsible-first AI offering Sonata is a comprehensive platform powered by GenAI and encompasses a variety of industry solutions, service delivery platforms, and accelerators. It is distinguished by its embedded ethics, privacy, security, and compliance. We enable our clients to leverage AI in three different ways: i) driving efficiencies, ii) driving higher consumer experience/modern sales, and iii) driving innovative business models. Headquartered in Bengaluru, India, Sonata Software has a strong global presence, including key regions North America, UK, Europe, APAC, and ANZ. We are one of the fastest growing IT Services companies and a trusted partner of Fortune 500 companies in Banking, Financial Services and Insurance (BFSI); Healthcare and Lifesciences (HLS); Telecom, Media, and Technology (TMT); and Retail, Manufacturing and Distribution (RMD) space. Sonata Software boasts of a very strong partnership with Microsoft, AWS and many others. We are a proud member of Microsoft AI Partner Council and have also achieved AWS Generative AI Competency. Also, we are a member of the prestigious Inner Circle for Microsoft Business Applications and Featured and Launch Partner for Microsoft Fabric. About Sonata Information Technology Limited Sonata Information Technology Limited, our Domestic Business, partners with Indian enterprise customers in their digital transformation journeys. As a digital transformation partner, it helps enterprises adopt and scale cloud solutions, fostering innovation and growth. It also helps customers in managing & maintaining their Hybrid Cloud Platforms and related enterprise IT security environments.
Yahoo
26-07-2025
- Business
- Yahoo
HKTDC Research Report: Exploring Opportunities in Hong Kong's Proprietary Chinese Medicine Industry
International Conference of the Modernization of Chinese Medicine & Health Products to be held next month to foster progress in traditional medicine research - The implementation of streamlined approval procedures for Hong Kong- and Macao-registered proprietary Chinese medicines ("pCms") by mainland China presents significant opportunities for Hong Kong companies to expand into the Greater Bay Area and other mainland market.- A unified and comprehensive registration system strengthens the quality control of Hong Kong's pCms, reinforcing confidence among other regulatory bodies and stakeholders.- Hong Kong's first Chinese medicine hospital will gradually commence operations by year end. This will help promote the popularity of Chinese medicine and pCms. HONG KONG - July 25, 2025 (NEWMEDIAWIRE) - The Hong Kong Trade Development Council ("HKTDC") today released a report, "Challenges and Opportunities in Hong Kong's Proprietary Chinese Medicine Industry," that analyses the sector's development, challenges, and export potential of Hong Kong's pCm sector. With the completion of the transitional registration process for pCms in June this year, all pCms sold in Hong Kong now hold formal registration, marking a new era in the regulatory regime. The Chinese Medicine Hospital of Hong Kong is set to begin operations by late 2025 further popularising pCms. Additionally, mainland China has streamlined approval procedures for Hong Kong-registered traditional pCms, creating easier access to the mainland market. Hong Kong's pCms enjoy a strong reputation, with streamlined registration procedures facilitating expansion into the Mainland market Hong Kong currently has approximately 2,000 companies involved in pCms and Chinese herbal medicine-related businesses, including import/export trade, manufacturing, wholesale and retail. Among these, some 264 enterprises are listed as local pCm manufacturers. The majority of pCms produced in Hong Kong are geared toward the consumer market. In 2024, Hong Kong's pCm exports totaled HK$2.88 billion with 93% locally produced, setting the industry apart from re-export-driven sectors. Mainland China remains the largest export market, accounting for over 70% of exports, followed by Macao (20%), and ASEAN (6%). Wing Chu, Principal Economist (Greater China) of the HKTDC, stated: "Many Hong Kong proprietary Chinese medicines companies are eager to expand exports especially to the mainland market although pCm imports in mainland China are relatively small, with different pCms registration system and technical standards from those of Hong Kong. Notably, Hong Kong's pCms are highly regarded in Southern China and overseas Chinese communities, and streamlined approval procedures in mainland China for traditional pCms of Hong Kong and Macao offer significant opportunities for Hong Kong businesses to expand into the Greater Bay Area and other mainland markets. Additionally, the rise of online shopping enables companies to leverage cross-border e-commerce platforms to access mainland and overseas markets, provided they comply with the corresponding regulatory requirements." Comprehensive registration system drives standardisation of Chinese medicine The report indicates that, in recent years, the HKSAR Government has actively promoted the development of Chinese medicine. Key initiatives include the establishment of the Chinese Medicine Council of Hong Kong to oversee the registration and management of pCms, and continuous support for Chinese medicine services in areas such as education, medical treatment, and scientific research. These efforts have enabled Hong Kong to cultivate professional Chinese medicine talent and promote the modernisation of Chinese medicine. Earlier this month, some 345 Hong Kong enterprises, including traders, registered a total of 8,244 pCms. The report states that a unified and comprehensive registration system enhances the quality control of Hong Kong's pCms, further increasing the confidence of other regulatory bodies and stakeholders in these products. Hong Kong's first Chinese medicine hospital is set to open in late 2025, providing comprehensive diagnostic and treatment services with Chinese medicine, which will drive the popularisation of Chinese medicine and pCms. In addition, Hong Kong pCm companies and local universities are committed to developing new pCms to further expand the market. Recently, the Centre for Chinese Herbal Medicine Drug Development at Hong Kong Baptist University (HKBU), funded by the Innovation and Technology Commission of HKSAR Government under the InnoHK Research Clusters, developed a novel drug, CDD-2101, for the treatment of chronic constipation. The innovation is based on previous pilot clinical studies and basic research on the traditional Chinese herbal formulation "MaZiRenWan". For the first time, it has received authorisation for clinical research in the United States. Prof. BIAN Zhaoxiang, Director of the Centre for Chinese Herbal Medicine Drug Development and Associate Vice-President (Clinical Chinese Medicine) at HKBU, said: "Our goal is to collect sufficient safety and efficacy data to obtain FDA approval for CDD-2101 as a marketable new drug and successfully launch it in the United States. This represents not only a major breakthrough in the research and development of Chinese medicine in Hong Kong but also an important step in driving the standardisation and internationalisation of Chinese medicine." Mainland market surpasses RMB450 billion Mainland China, the world's largest pCm market valued at RMB450 billion, streamlined registration and approval procedures in 2021 for traditional pCms for external use being sold in Hong Kong and Macao. In January 2025, the National Medical Products Administration further simplified the approval process for traditional pCms for oral use, provided they have been in use in Hong Kong for more than 15 years and whose production processes comply with Good Manufacturing Practice (GMP) requirements. Relevant application materials and technical requirements were also released in April this year. The report notes that the implementation of the streamlined registration procedures opens a more convenient channel for Hong Kong companies to expand into the Greater Bay Area and other mainland markets. The recognition and acceptance of pCms differ across overseas regions. In many international markets, pCms are categorised and regulated as herbal medicines, health foods or dietary supplements. However, many Southeast Asian countries have specific, similar legal requirements for pCms, providing a clear pathway to enter these markets. The rapid growth of global e-commerce has created new sales channels for Hong Kong's pCms through cross-border e-retail. For the mainland market, the report points out that certain pCms for external use, such as Chinese medicinal wines and cooling oils, have been incorporated in the Cross-border E-commerce Retail Import Commodity List, allowing relevant products to be sold to mainland China through cross-border e-commerce channels. In overseas markets, the e-commerce retail sector in ASEAN is experiencing significant growth, fueled by robust demand for herbal and health-related products in local markets. By adhering to local regulations, Hong Kong pCm enterprises can capitalise on additional business opportunities through online channels. Annual Chinese Medicine Conference to Share Latest Research Findings To foster the development of the Chinese medicine industry, the International Conference of the Modernization of Chinese Medicine & Health Products will be held at the Hong Kong Convention and Exhibition Centre from 15 to 16 August 2025. The conference is jointly organised by the Modernized Chinese Medicine International Association, the HKTDC and 10 scientific research institutions. During the event, 21 scholars and experts from medical schools, research institutions, pharmaceutical companies and organisations from mainland China, Hong Kong, Malaysia and Thailand will discuss the latest research progress in the prevention and treatment of tumors, inflammation, and cardiovascular and cerebrovascular diseases using traditional medicine. They will also present a number of related clinical research results and share successful cases. For more details, please visit: Report and photo download: Media Enquiries Ogilvy Public Relations Chole Chan Tel: (852) 6809 6633 Email: Leanne Pok Tel: (852) 9379 9694 Email: HKTDC's Communications and Public Affairs Department Stanley So Tel: (852) 2584 4049 Email: Serena Cheung Tel: (852) 2584 4272 Email: Clayton Lauw Tel: (852) 2584 4472 Email: Media Room: About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
25-07-2025
- Business
- Forbes
How AI Can Be A Force Multiplier For Limited Partner Investors
Hank Boughner is the CEO of Dynamo Software, an end-to-end cloud platform for the alternatives investing ecosystem. Capital allocation has always been a high-stakes endeavor. But in today's environment, several market realities are forcing a reckoning for limited partner (LP) investors: outdated processes have become a risk of their own. A rapidly expanding investment landscape, shifting economic dynamics and soaring talent costs are pushing endowments, pensions and family offices to modernize so they can do more with less. Some of the modernization forces LPs are exploring include restructuring teams, evolving capital deployment strategies and streamlining operational workflows. But even as early efforts are having an impact, many LPs are seeking faster return on investment (ROI) and higher multiples on invested capital (MOICs). In essence, they're searching for a force multiplier to accelerate modernization, and AI has the potential to be that force multiplier. The Hunt For A Force Multiplier Ends With AI Most LPs feel their tech stack urgently needs a boost. A 2024 private markets survey by my company, Dynamo Software, in partnership with Northfield Information Services, revealed that 57% of LPs planned to increase their technology budgets over the next 12 months, up 8 points from the previous year. The report surveyed more than 100 global LPs and asset allocators between July and August of last year, 80% of whom were located in the U.S. and Canada. The top two tech priorities cited by LP respondents tell an interesting story. 'Creating efficiencies and optimizing workflows' ranked first, followed by 'empowering teams to leverage technology.' Apparently, LPs aren't focused solely on operational improvements. They also see tech as a valuable partner to their people. This is among the greatest strengths of AI—augmenting human capabilities. Indeed, a core benefit of AI is surfacing insights that account for many more variables than humans ever could. This is a crucial capability for LPs, who are inundated with high volumes of financial reports and market data. Every deal generates vast amounts of unstructured data from diverse sources and formats, flooding inboxes with can't-miss information. While Outlook, Excel and PowerPoint have been powerful organizers, they require manual effort that simply can't keep up with today's private markets. Another key dynamic for LPs is the human cost of manual processes. Jeff Bezos famously believes people in high-pressure jobs need to carve out time for critical thinking. Transformative thinking requires protected time, which can be next to impossible when talent is buried in low-value, brain-draining work. AI—and the automation it enables—unlocks the value of those hours. How AI Is Already Delivering Results The good news is that AI adoption in private markets is well underway, and its impact is rapidly becoming visible among early adopters. AI and automation are transforming workflows in meaningful ways. With the assistance of these technologies, LPs can reposition their internal efforts toward value-added activities. Among the results is improved alpha. In a separate survey of 100 LPs and general partner (GP) participants that took place between August and September of last year, 47% of those using AI reported improved portfolio performance. Beyond a performance optimizer, LPs are also considering AI as an enabler of beating others to a deal. By widening the gap between users and non-users, AI helps LPs capture top-tier deals sooner and deploy capital faster. Improving Processes Where LPs Need It Most Crucial to realizing measurable success with AI is deploying it in places where LPs need it most. For now, there are plenty of low-hanging fruit tasks to tackle, including email logging, data gathering and spreadsheet management. Two forms of AI in particular, machine learning (ML) and large language models (LLMs), are well-suited to streamlining tasks without losing nuance and context. ML is effective at using pattern recognition for managing rule-based tasks. Over decades of iteration, the technology has become superior at probability-driven analysis, using statistical frameworks to do things like capturing key details from an email and adding them to just the right spot in a customer relationship management (CRM) platform. For their part, LLMs are great at extracting information from unstructured documents, like PDFs, and importing the information into databases. Once data is in a structured format, teams are empowered with expanded functionality and opportunities for analysis. New LP use cases for AI are developing daily, as private-market players are only getting started with the technology. The private markets survey revealed that 60% of LPs and GPs are just beginning to explore AI. That said, a growing number of firms are building on early AI deployments. Twenty percent have incorporated AI into some of their standard processes, and 7% are using AI extensively. Best Practices For Implementing AI In The Investment Process Integrating AI is not always simple, but the need for the automation it enables is undeniable. For the third year in a row, automating manual processes was named as a top challenge for the LPs who participated in a Dynamo Software survey. Based on my experience walking alongside LPs enhancing their tech stacks with AI and automation, I've observed several best practices: • Create a data automation/AI team that meets regularly. AI is developing rapidly, and frequent team meetings ensure that technology ROI is being evaluated in real time. Discussion of quick wins (singles and doubles are a great place to start) is critical. • Use APIs to bridge cross-system gaps. LPs enhance data analysis by adding API-capable platforms, mapping their tech stack and addressing high-friction handoffs. This allows vendors to recommend integrations and configure endpoints aligned with workflows. • Prioritize security. Automated workflows can pose cybersecurity risks, especially when sensitive data is at play. Partnering with trusted vendors ensures safer data collection, analysis and sharing. Properly managing data deletion, particularly personally identifiable information (PII), is critical. • Focus on change management. Investment teams often resist change. Applying change management principles, like gaining early buy-in, offering dedicated support and providing proper training, can turn hesitation into enthusiasm and drive successful transformation. A Call To Adapt And Lead Success in today's private markets requires smart, talented people making fast, but informed, investment decisions. AI and automation are redefining the playbook, accelerating insights with streamlined data and operational workflows. For those ready to adapt and who understand how to do so effectively, the rewards can be significant. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Business Recorder
22-07-2025
- Business
- Business Recorder
Loss-making chemical maker in Pakistan pegs revival hopes on BMR
The management of loss-making Sitara Peroxide Limited (SPL), a chemical manufacturer, is pinning its revival hopes on a planned Balancing, Modernization, and Replacement (BMR) initiative, backed by fresh capital injection and bank financing. As per the report, made available to the exchange on Tuesday, the company's sponsors have planned to further inject Rs355 million in the company through disposal of assets of associated company which shall be utilized for Balancing, Modernization and Replacement (BMR) in addition to financing from banks. 'This BMR include implementing the latest and most efficient production technology through the conversion to slurry bed catalyst technology from fix bed catalyst technology. 'This upgrade will allow for greater efficiency and productivity in the production process and will enhance the production capacity of existing plant by 40% and will result in significant reduction in cost of production of the company,' read the report. Sitara Peroxide looks to 'generate funds through various sources' as shutdown bites While sharing the financial results for the of half year ended on December 31, 2023, Sitara Peroxide said the company incurred a net loss of Rs76.371 million in comparison with loss for the corresponding half year at Rs220.06 million. Meanwhile, it said that the BMR will enhance current production capacity of plant from 30,000 tons per annum to 40,000 tons per annum along with better yield and efficiency. The listed company shared that it remains in active negotiations with the technology and plant & machinery suppliers and has already made certain advance payment. 'The management of the company is confident for BMR and viable operations,' it said. Sitara Peroxide Limited incorporated in Pakistan as a public limited Company under the Companies Ordinance, 1984 (Repealed with the enactment of the Companies Act 2017 on May 30, 2017) and is listed on Pakistan stock exchange. The principal activity of the company is manufacturing and sale of hydrogen peroxide (H2O2) and Sitara Safe (disinfectant).
CBS News
21-07-2025
- Business
- CBS News
4 CTA Red Line stops reopen after rebuilding
Commuters on the CTA Red Line on Chicago's North Side had four shiny new stops available on Sunday. A ceremonial train busted through a banner Sunday morning at the Berwyn station, above Berwyn Avenue just east of Broadway in the Edgewater neighborhood, to celebrate the reopening. The Berwyn station has been closed as part of the Chicago Transit Authority Red and Purple Modernization Project since 2021. The Lawrence station, over Lawrence Avenue just east of Broadway, has also been closed altogether since 2021. Two other stops, the Bryn Mawr and Argyle stations — over Bryn Mawr Avenue and Argyle Street, and also just east of Broadway — had temporary stations open while being rebuilt. "There's a wider platform at each station. The concrete structure is going to allow for a smoother ride. They're fully accessible. There's elevators and escalators at all the station — accessible to everyone," said CTA senior communications representative Andrew Gavrilos. Gavrilos said the concrete structure is more wind and noise resistant, and there are also wider canopies at the top for weather protection. "Well worth the wait," Gavrilos said. The $2.1 billion Red and Purple Modernization Project has been replacing century-old tracks, signals, and platforms that had all reached the end of their service lives. At the Bryn Mawr station, a new entrance has also opened a block north at Hollywood Avenue. According to the Chicago - history site — which is not affiliated with the CTA, but was built by CTA historian and expert Graham Garfield, who now serves as the CTA's general manager for Red and Purple Modernization operations and communication coordination — the Berwyn stop was first constructed in 1916 as the Edgewater Beach station on the Northwestern Elevated Railroad. The station was renamed Berwyn, for Berwyn Avenue, in 1960, according to Berwyn Avenue in turn was named by developer and Edgewater community developer John L. Cochran, a Philadelphia native, for the Philadelphia Main Line suburban community of Berwyn. The west Chicago suburb of Berwyn, which Berwyn Avenue does not run anywhere near, was named for the same Philadelphia suburb by different developers. There has been a rapid transit station at Bryn Mawr Avenue, three blocks north of Berwyn Avenue, since 1908, according to Bryn Mawr is another Philadelphia Main Line suburb that got a street name in Chicago thanks to Cochran, according to the book Streetwise Chicago. The Argyle station — serving the Asia on Argyle district that was transformed in the 1970s by Vietnamese, Laotian, Cambodian, and Chinese entrepreneurs — also dates back to 1908, according to Published reports note that community leader Charlie Soo persuaded the CTA to take on a $250,000 renovation for the station in the 1980s, and a pagoda was added in 1991. The pagoda and an "Asia on Argyle" sign were removed for the reconstruction of the station, and the CTA said it is working with the local alderperson and the community to relocate both. The Lawrence station — serving such venues as the Aragon Ballroom, the Riviera Theater, and The Green Mill — came later, opening in 1923, according to
