
Sify Technologies Limited remains rated Hold as long-term growth potential is offset by persistent financial and execution risks. SIFY's aggressive data center expansion boosts capacity but strains free cash flow and profitability, with capital spending at 26% of sales and negative free cash flow. Despite 15% YoY revenue and 42% EBITDA growth, SIFY's premium valuation (700x forward earnings) is difficult to justify given negative cash flows and high leverage.










