6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

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FORM 6-K

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REPORT OF FOREIGN PRIVATE ISSUER PURSUANTTO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

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For the month of July 2022

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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 20-F þ Form 40 F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). Yes o No þ

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7). Yes o No þ

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes o No þ

If “Yes” is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b). Not applicable.

Results of Operations and Financial Condition

On July 22, 2022, Sify Technologies Limited announced its unaudited consolidated results under the International Financial Reporting Standards (IFRS) for the first quarter of fiscal year 2022-23.

A copy of the press release is attached hereto as Exhibit 99.1, which exhibit shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 22, 2022

Sify Technologies Limited
By:	/s/ M P Vijay Kumar
Name:	M P Vijay Kumar
Title:	Chief Financial Officer

Exhibits filed with this Report

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Exhibit Number	Description
99.1	Press Release dated July 22, 2022

Exhibit 99.1

For immediate release Chennai, India, July 22, 2022

EARNING CALLS DETAILS	July 22, 2022	8:30 AM ET

On the call: Mr. Raju Vegesna-Chairman, Mr. Kamal Nath-CEO & Mr. M P Vijay Kumar-CFO

To join: +1-888-506-0062 (Toll Free in the U.S. or Canada) or +1-973-528-0011 (International)

Live broadcast over the Internet: https://www.webcaster4.com/Webcast/Page/2184/46130

Archives: +1-877-481-4010 (Toll Free in the U.S. or Canada) or +1-919-882-2331 (International). On prompt, please enter passcode 46130

Sify reports Consolidated Financial Resultsfor Q1 FY 2022-23

Revenues of INR 7709 Million. EBITDAof INR 1525 Million.

HIGHLIGHTS

·	Revenue was INR 7709 Million, an increase of 20% over the same quarter<br>last year.
·	EBITDA was INR 1525 Million, an increase of 5% over the same quarter<br>last year.
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·	Profit before tax was INR 395 Million, a decrease of 10% over the<br>same quarter last year.
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·	Profit after tax was INR 271 Million, a decrease of 18% over the same<br>quarter last year.
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·	CAPEX during the quarter was INR 2241 Million.
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(IN INR MILLION)	Q1 2022-23		FY 2021-22
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EQUITY		14753		14476
BORROWINGS
Long term		7702		7769
Short term		6855		7483

MANAGEMENT COMMENTARY

Mr. Raju Vegesna, Chairman, said, “The last couple months has seen shifting winds in the macroeconomics of the world. Right through, India has retained a strong outlook for investments and growth. This is in large part due to the consistent economic policies of the government and its stated ambition to pursue digital methods to deliver social benefits.

The technology landscape has been the biggest beneficiary of these policies, and this is reflected in the growing number of incoming requests for Digital Transformation. We see Indian enterprises using this opportunity to adopt the best practices from around the world”.

Mr. Kamal Nath, CEO, said, “Enterprises are displaying a growing comfort in digital adoption across all levels. They are leveraging digital transformation to spark innovation across the enterprise, and this is resulting in an increasing number of new initiatives delivered on a digital-only platform.

While earlier, our mandate was to accelerate our clients’ transformation goals, our cloud- focused Digital initiatives are now called upon to create new business processes, customer experiences and greater cost-effectiveness.

Enterprises’ increasing interest in outcome-based initiatives, incoming policies around data and the government’s aggressive adoption around all-things-digital should act as tailwinds for our Data Center, Network and Digital services”.

Mr. M P Vijay Kumar, CFO, said, “We remain committed to expanding our data center and network footprint and are gradually scaling up the adoption of renewable energy in our data centers. Investment into people and tools will be complimentary to this growth, without losing sight of our fiscal roadmap.

As we scale, our focus would be on ensuring that costs are optimized and revenues are improved across our service mix.

Cash balance at the end of the quarter was INR 3794 Million”.

BUSINESS HIGHLIGHTS

·	The Revenue split between the businesses for the quarter was Data<br>Center colocation services 34%, Digital services 26% and Network services 40%.
Business					% Growth
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Revenue (					Q1 2022-23 vs
Millions)	Q1 FY 2021-22		FY 2021-22		Q1 2021-22
Data Center services		1680		7494		56	%
Digital Services		2008		7520		1	%
Network services		2763		12012		11	%
TOTAL		6451		27026

All values are in Indian Rupees.

·	During the quarter, Sify has invested USD 150,000 in startups in the<br>Silicon Valley area as part of our Corporate Venture Capital initiative. To date, the cumulative investments stand at USD 3.44<br>Millions.
·	Sify commissioned incremental capacity of 4MW across Noida and Hyderabad<br>data center facilities in the quarter.
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·	As on June 30, 2022, Sify provides services via 824 fiber nodes and<br>1910 wireless base stations across the country, a 11% and 5% increase respectively over the same quarter last year.
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·	The network connectivity services crossed a critical milestone of<br>deploying more than 5000 SDWAN service points across the country.
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CUSTOMER ENGAGEMENTS

Among the most prominent new contracts during the quarter were the following:

Data Center Services

·	International players who colocated in Sify Data Center included a<br>cloud security company, multiple cloud contact center software providers and an application security and multi-cloud management<br>player.
·	Among those who opted to migrate from on-premise DC to Sify DC were<br>an international digital studio, a private bank and a co-operative society.
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·	A domestic banking major expanded their DC and DR infrastructure with<br>hosting in Sify DC.
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Digital services

·	One of the country’s premier steel major contracted to refresh<br>and augment their network managed services.
·	Industry majors from Steel, Life Insurance, eCommerce and infrastructure<br>contracted to migrate from on-premise DC to our Cloud platform.
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·	A MNC steel player and a private health care provider contracted for<br>Greenfield cloud projects.
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·	An apex body for insurance information contracted to augment and refresh<br>of their infrastructure managed services.
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·	A power regulatory authority contracted to set up a Security Operations<br>Center and for managed services.
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·	Contracts for services such as DRaaS, PaaS and IaaS included major<br>players from the hosiery, IT, Renewable energy, health care and banking sectors.
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·	The regulatory body for insurance, a consumer durables manufacturer,<br>an insurance player and a logistics major contracted for managed services.
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·	A home-grown chemical major signed a multiyear managed security services<br>contract.
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·	Multiple players from Insurance, one of the country’s premier<br>stock exchanges, a shipping major, one of the the largest public sector banks and an investigation agency contracted for Hardware<br>Security modules for data protection.
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Network Services

·	A subsidiary of the Central bank responsible for payment infrastructure<br>contracted for Data Center Interconnect, network for storage replication and DC Traffic.
·	One of the oldest international names in the financial media industry,<br>a multinational investment bank and an international car major contracted for an independent network.
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·	One of the oldest supply chain management players contracted for a<br>full refresh of their network connectivity.
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·	AMS-IX India, a carrier-neutral, open Internet Exchange, is now operational<br>at Kolkata and Hyderabad.
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FINANCIAL HIGHLIGHTS

Unaudited Consolidated Income Statement as per IFRS

(In INR millions)

	Quarter ended			Quarter ended			Quarter ended			Year ended
	June			June			March			March
Description	2022			2021			2022			2022
										(Audited)
Revenue		7,709			6,451			6,805			27,026
Cost of Revenues		(4,910	)		(3,906	)		(4,076	)		(16,042	)
Selling, General and Administrative Expenses		(1,274	)		(1,091	)		(1,194	)		(4,944)
EBITDA		1,525			1,454			1,535			6,040
Depreciation and Amortisation expense		(927	)		(802	)		(855	)		(3,298	)
Net Finance Expenses		(281	)		(227	)		(268	)		(1,025	)
Other Income (including exchange gain)		78			17			56			131
Other Expenses (including exchange loss)		-			(2	)		-			-
Profit before tax		395			440			468			1,848
Current Tax		(163	)		(118	)		(185	)		(640	)
Deferred Tax		39			7			42			50
Profit for the period		271			329			325			1,258
Profit attributable to:
Reconciliation with Non-GAAP measure
Profit for the period		271			329			325			1,258
Add:
Depreciation and Amortisation expense		927			802			855			3,298
Net Finance Expenses		281			227			268			1,025
Other Expenses (including exchange loss)		-			2			-			-
Current Tax		163			118			185			640
Less:
Deferred Tax		(39	)		(7	)		(42	)		(50	)
Other Income (including exchange gain)		(78	)		(17	)		(56	)		(131	)
EBITDA		1,525			1,454			1,535			6,040

About Sify Technologies

A Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses.

Sify’s infrastructure comprising the largest MPLS network, top-of-the-line DCs, partnership with global technology majors, vast expertise in business transformation solutions modelled on the cloud make it the first choice of start-ups, incoming Enterprises and even large Enterprises on the verge of a revamp.

More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Security services and conduct their business seamlessly from more than 1600 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.

Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange 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. Sify undertakes no duty to update any forward-looking statements.

For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2022, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.

For further information, please contact:

Sify Technologies Limited	Grayling Investor Relations	20:20 Media
Mr. Praveen Krishna<br><br> <br>Investor Relations & Public<br><br> <br>Relations<br><br> <br>+91 44 22540777 (ext.2055)<br><br> praveen.krishna@sifycorp.com	Lucia Domville<br><br> <br>+1-646-824-2856<br><br> Lucia.Domville@grayling.com	Nikhila Kesavan<br><br>+91 9840124036<br><br>nikhila.kesavan@2020msl. com