6-K 1 sify077_6k.htm FORM 6-K

United States Securities and Exchange Commission

Washington, DC 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

For the Month of November, 2025

Commission File Number 000-27663

SIFY TECHNOLOGIES LIMITED

(Translation of registrant’s name into English)

Tidel Park, Second Floor

No. 4, Rajiv Gandhi Salai, Taramani

Chennai 600 113, India

(91) 44-2254-0770

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20F þ Form 40 F ¨

SIFY TECHNOLOGIES LIMITED

FORM 6-K

For the half-year ended September 30, 2025

INDEX

*Part I* Financial Information

Item 1. Financial Statements
a) Unaudited Condensed Consolidated Interim Statement of Financial Position	4
b) Unaudited Condensed Consolidated Interim Statement of Profit or Loss	6
c) Unaudited Condensed Consolidated Interim Statement presenting Comprehensive Income	7
d) Unaudited Condensed Consolidated Interim Statement of Changes in Equity	8
e) Unaudited Condensed Consolidated Interim Statement of Cash Flows	9
f) Notes to the Unaudited Condensed Consolidated Interim Financial Statements	10

Item 2. Information on the Company	31

Item 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations	41

Item 4. Quantitative and Qualitative Disclosure About Market Risk	65

Item 5. Controls and Procedures	65

*Part II* Other Information	66

Item 1. Legal Proceedings	66

Item 1A. Risk Factors	66

Item 2 Unregistered Sale of Equity Securities and Use of Proceeds	66

Item 3. Defaults Upon Senior Securities	66

Item 4. Mine Safety Disclosures	66

Item 5. Other Information	66

Item 6. Exhibits	66

Currency of Presentation and Certain Defined Terms

Unless the context otherwise requires, references in this Report to “we,” “us,” the “Company,” “Sify” or “Satyam Infoway” are to Sify Technologies Limited, a limited liability Company organized under the laws of the Republic of India. References to “U.S.” or the “United States” are to the United States of America, its territories and its possessions. References to “India” are to the Republic of India. In January 2003, we changed the name of our Company from Satyam Infoway Limited to Sify Limited. In October 2007, we again changed our name from Sify Limited to Sify Technologies Limited. “Sify”, “SifyMax.in,”, “Sify e-ports” and “Sify online” are trademarks used by us for which we have already obtained registration certificates in India. All other trademarks or trade names used in this Report are the property of their respective owners. In this Report, references to “$,” “Dollars” or “U.S. dollars” are to the legal currency of the United States, and references to “Rs,”, “₹.”, “rupees” or “Indian rupees” are to the legal currency of India. References to a particular “fiscal” year are to our fiscal year ended March 31 of such year.

For your convenience, this Report contains translations of some Indian rupee amounts into U.S. dollars which should not be construed as a representation that those Indian rupee or U.S. dollar amounts could have been, or could be, converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate, the rate stated below, or at all. Except as otherwise stated in this Report, all translations from Indian rupees to U.S. dollars contained in this Report have been based on the reference rate in the City of Mumbai on September 30, 2025 for cable transfers in Indian rupees as published by the Reserve Bank of India (RBI), which was ₹ 88.7923 per $1.00.

Our financial statements are presented in Indian rupees and prepared in accordance with English version of International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. In this Report, any discrepancies in any table between totals and the sums of the amounts listed are due to rounding.

Information contained in our websites, including our corporate website, www.sifytechnologies.com, is not part of our Annual Report for the year ended March 31, 2025 or this Report.

Forward-looking Statements

In addition to historical information, this Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. For a discussion of some of the risks and important factors that could affect the Company’s future results and financial condition, please see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our Annual Report on Form 20 F for the fiscal year ended March 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on June 09, 2025.

The forward-looking statements contained herein are identified by the use of terms and phrases such as “anticipate”, believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “objectives”, “outlook”, “probably”, “project”, “will”, “seek”, “target” and similar terms and phrases. Such forward-looking statements include, but are not limited to, statements concerning:

•

our expectations as to future revenue, margins, expenses and capital requirements;

•

our exposure to market risks, including the effect of foreign currency exchange rates and interest rates on our financial results;

•

the effect of the international economic slowdown on our business;

•

our ability to generate and manage growth and to manage our international operations;

•

our ability to satisfy the standards for continued listing of our ADSs on the Nasdaq Capital Markets;

•

projections that our cash and cash equivalents, along with cash generated from operations will be sufficient to meet certain of our obligations; and

•

the effect of future tax laws on our business.

You are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date of this Report. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, you should carefully review the other information in this Report, our other periodic reports and other documents filed with the SEC from time to time. Our filings with the SEC are available on its website at www.sec.gov.

NON-IFRS MEASURES

We have disclosed our EBITDA in this Form 6-K, which is a non-IFRS financial measure. EBITDA should not be considered as an alternative to profit / (loss) for the period because it does not reflect certain costs involved in our operations, such as finance expenses, depreciation and taxes, any of which may have a significant effect on our profit / (loss) for the period. EBITDA is not a measurement of our financial performance under IFRS and should not be considered as an alternative to profit /(loss) for the period or any other performance measures derived in accordance with IFRS. For a reconciliation of EBITDA to the most comparable IFRS measure profit /(loss) for the period, see “Item 3. Management’s Discussion and Analysis of Financial Condition and Results of Operations”.

Sify Technologies Limited

Unaudited Condensed Consolidated Interim Statement of Financial Position

(In Millions of Rupees, except share data and as otherwise stated)

	Note	As at						As at September 30, 2025
		September 30, 2025 ₹			March 31, 2025* ₹			Convenience translation into US$ (In Millions)

ASSETS
Property, plant and equipment	4		41,516			38,915			468
Right of Use Assets	7A		9,266			8,822			104
Intangible assets	5		624			697			7
Other assets			3,073			5,555			35
Deferred contract costs			6			6			-
Other investments			1,330			1,230			15
Deferred tax assets			1,475			1,397			17
Total non-current assets			57,290			56,622			646

Inventories			3,956			3,959			45
Trade and other receivables, net	8A		16,290			14,844			183
Contract assets	8B		40			24			-
Deferred contract costs			210			139			2
Prepayments for current assets			1,202			832			14
Restricted cash	6		1,582			454			18
Other Bank deposits	6		-			1,307			-
Cash and cash equivalents	6		2,567			4,997			29
Total current assets			25,847			26,556			291
Total assets			83,137			83,178			937

EQUITY AND LIABILITIES
Equity
Share capital			4,358			4,354			49
Compulsorily Convertible Debentures			3,406			3,406			38
Share premium			19,798			19,780			223
Share based payment reserve			250			251			3
Other components of equity			178			144			2
Accumulated deficit			(8,468	)		(7,804	)		(95	)
Total Equity attributable to equity holders of the Company			19,522			20,131			220

Sify Technologies Limited

Unaudited Condensed Consolidated Interim Statement of Financial Position

(In Millions of Rupees, except share data and as otherwise stated)

	Note	As at				As at September 30, 2025
		September 30, 2025 ₹		March 31, 2025* ₹		Convenience translation into US$ (In Millions)

Liabilities
Borrowings			26,729		28,225		301
Lease liabilities	7B		3,495		3,617		39
Employee benefits	9		216		201		2
Contract liabilities	8B		3,787		3,290		43
Other liabilities			52		52		1
Total non-current liabilities			34,279		35,385		386

Borrowings			7,754		7,149		87
Lease liabilities	7B		414		193		5
Bank overdraft	6		69		326		1
Trade and other payables			17,165		17,171		194
Contract liabilities	8B		3,934		2,823		44
Total current liabilities			29,336		27,662		331

Total liabilities			63,615		63,047		717

Total equity and liabilities			83,137		83,178		937

The accompanying notes form an integral part of these unaudited condensed consolidated interim financial statements

* Derived from the audited consolidated financial statements

Sify Technologies Limited

Unaudited Condensed Consolidated Interim Statement of Profit or Loss

(In Millions of Rupees, except share data and as otherwise stated)

	Note	Quarter ended September 30,				Quarter ended September 30, 2025			Half year ended September 30,					Half year ended September 30, 2025
		2025 ₹		2024 ₹		Convenience translation into US$ (In Millions)			2025 ₹			2024 ₹		Convenience translation into US$ (In Millions)

Revenue	10		10,533		10,275		119			21,256			19,696		239
Cost of sales	11		(6,294)		(6,362)		(71)			(12,868)			(12,323)		(145)
Gross profit			4,239		3,913		48			8,388			7,373		94
Other operating income			81		135		1			166			223		2
Selling, general and administrative expense	12		(1,871)		(1,945)		(21)			(3,889)			(3,621)		(44)
Depreciation and amortization	4,5&7A		(1,740)		(1,323)		(20)			(3,419)			(2,629)		(39)
Operating profit			709		780		8			1,246			1,346		13
Investment income			16		2			-		16			60		-
Impairment provision on Investment			(4)					-		(26	)				-
Profit before financing and Income taxes			721		782		8			1,236			1,406		13
Finance income	13		-		-		-			1			-		-
Interest expenses on borrowings	13		(835)		(565)		(9)			(1,592)			(1,115)		(18)
Interest expenses on pension liabilities	13		(1)		(1)			-		(2)			(1)		-
Interest expenses on lease liabilities	13		(79)		(76)		(1)			(159)			(143)		(2)
Net finance income / (expense)			(915)		(642)		(10)			(1,752)			(1,259)		(20)

Profit / (Loss) before tax			(194)		140		(2)			(516)			147		(7)
Income tax (expense)/ benefit			(81)		(38)		(1)			(148)			(97)		(2)
Profit / (Loss) after tax			(275)		102		(3)			(664)			50		(9)
Basic earnings per share	14		(0.63)		0.33		-			(1.53)			0.16		(0.02)
Diluted earnings per share	14		(0.63)		0.32		-			(1.53)			0.15		(0.02)

The accompanying notes form an integral part of these unaudited condensed consolidated interim financial statements.

Sify Technologies Limited

Unaudited Condensed Consolidated Interim Statement presenting Comprehensive Income
(In Millions of Rupees, except share data and as otherwise stated)

		Quarter ended September 30				Quarter ended September 30, 2025		Half year ended September 30				Half year ended September 30, 2025
	Note	2025 ₹		2024 ₹		Convenience translation into US$ (In Millions)		2025 ₹		2024 ₹		Convenience translation into US$ (In Millions)

Profit / (Loss) for the Quarter/Half year			(275)		102		(3)		(664)		50		(9)

Other comprehensive income/(loss)
Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans (net of tax)			4		(5)		-		8		8		-
Items that will be reclassified to profit or loss
Foreign currency translation differences of foreign operations			40		2		-		25		3		-
Other comprehensive income/(loss) for the Quarter/Half year			44		(3)		-		33		11		-

Total comprehensive income for the Quarter/Half year			(231)		99		(3)		(631)		61		(9)

The accompanying notes form an integral part of these unaudited condensed consolidated interim financial statements.

Sify Technologies Limited

Unaudited Condensed Consolidated Interim Statement of Changes in Equity

(In Millions of Rupees, except share data and as otherwise stated)

For the half year ended September 30, 2025

Particulars

Share
capital

Share
premium

Share

based payment reserve

Other
components
of equity

Retained
Earnings/
(accumulated deficit)

Total

Non-
controlling
interest

Compulsorily Convertible

Debentures

Total
Equity

Balance at April 1, 2025

4,354

19,780

251

144

(7,804)

16,725

3,406

20,131

Total comprehensive income/ (loss) for the Half year

(664)

(631)

(631)

Shares issued on exercise of ESOP

Transferred from share-based payment reserve on account of exercise of ESOP

(1)

Share-based payment transaction

Balance as at September 30, 2025

4,358

19,798

250

178

(8,468)

16,116

3,406

19,522

*less than the rounding off norm adopted by the Company

For the year ended March 31, 2025

Particulars	Share capital		Share premium		Share based payment reserve			Other components of equity		Retained earnings / (accumulated deficit)			Total			Non- controlling interest		Compulsorily Convertible Debentures		Total equity
Balance on April 1, 2024		1,846		19,733		353			44		(6,626	)		15,350			-		2,724		18,074

Total comprehensive income / (loss) for the year		-		-		-			13		(785	)		(772	)		-		-		(772	)
Compulsorily Convertible Debentures presented as Equity		-		-		-			-		-			-			-		682		682
Shares issued on exercise of ESOP		8		24		-								32					-		32
Rights issue of shares		2,500												2,500							2,500
Transaction costs related to rights issue of shares											(52	)		(52	)				-		(52	)
Debenture premium on issue of Non-Convertible Debentures				6										6							6
Dividend paid on Non-Cumulative Compulsorily Convertible Preference Shares											(22	)		(22	)						(22	)
Acquisition of equity shares in subsidiary without change in control											(88	)		(88	)						(88	)
Acquisition of preference shares in subsidiary without change in control											(231	)		(231	)						(231	)
Transferred from share based payment reserve on exercise of ESOP				17		(104	)		87					-					-		-
Share-based payment transactions						2								2					-		2
Balance on March 31, 2025		4,354		19,780		251			144		(7,804	)		16,725			-		3,406		20,131

For the year ended March 31, 2024

Particulars	Share capital		Share premium		Share based payment reserve			Other components of equity			Retained earnings / (accumulated deficit)			Total		Non- controlling interest	Compulsorily Convertible Debentures		Total equity
Balance on April 1, 2023		1,841		19,685		361			53			(6,795	)		15,145					15,145

Total comprehensive income / (loss) for the year									(14	)		169			155					155

Compulsorily Convertible Debentures presented as Equity																		2,724		2,724

Shares issued on exercise of ESOP		5		37											42					42
Transferred from share based payment reserve on exercise of ESOP				11		(16	)		5

SEC Form 6-K filed by Sify Technologies Limited