8/8/2024, 2:02:03 pm

Accumulate Sonata Software; target of Rs 694: KR Choksey

Sonata Software's Q1FY25 results beat estimates with 25.4% YoY revenue growth, driven by domestic business, despite a 12.1% YoY decline in adjusted profit due to higher raw material costs. The target price is increased to INR 694, but the stock is downgraded to "ACCUMULATE" from "BUY" due to limited upside potential. Sonata Software's Q1FY25 results beat estimates with 25.4% YoY revenue growth.