NSE: AURIONPRO · BSE: 532668
AURIONPRO SOLN LTD
Provides enterprise software, technology products and digital infrastructure across banking, fintech, urban transit, and data centre verticals. Reports revenue under two segments: Sale of Software Services at 66.1% of segment revenue (₹932.7 crore), covering AI-native banking software, payment platform software, and cloud/DevOps services; and Sale of Equipment and Product License at 33.9% (₹478.4 crore), covering transit hardware such as automated fare collection systems and licensed technology products. Major wins disclosed in FY26 and early FY27 include a ₹350 crore hyperscaler data centre mandate, a USD 33 million three-year US engagement with a digital insurance payments platform (executed via subsidiary Aurionpro Fintech Inc.), and a ₹50 crore Mumbai Metro Line 5 automated fare collection order from MMRDA. The company entered FY27 with an order book exceeding ₹1,800 crore, of which management indicated ~70% (~₹1,260–1,300 crore) is executable during the year. Employee cost is the largest expense line at 41.7% of revenue, with other operating expenses at 38.2% and capex at 12.1% (₹170.1 crore), reflecting investment in a brownfield Mumbai data centre facility and AI-native product rebuilds. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Sale of Software Services (66%), Sale of Equipment and Product License (34%). IT services with growing data centre capex; people-intensive, low-debt (debt-to-equity 0.03)
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 505 | 659 | 887 | 1,173 | 1,411 |
| EBITDA (ex other income) | 112 | 145 | 193 | 242 | 276 |
| margin % | 22.1 | 21.9 | 21.8 | 20.6 | 19.6 |
| Owners' profit | 71 | 97 | 141 | 186 | 209 |
| EPS, as reported (₹) | 31.00 | 42.69 | 60.48 | 34.72 | 38.90 |
| ROE % · ROCE % | 18.7 · 22.8 | 19.8 · 23.5 | 15.1 · 18.4 | 12.5 · 14.7 | 12.1 · 14.7 |
| Debt / equity (x) | 0.13 | 0.14 | 0.07 | 0.01 | 0.03 |
| Cash from operations | 62 | 41 | 164 | 157 | 56 |
| Capex | (13) | (46) | (32) | (95) | (170) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 278 | 306 | 327 | 337 | 358 | 371 | 346 | 358 |
| Profit before tax | 53 | 59 | 59 | 60 | 69 | 56 | 68 | 52 |
| Net profit | 46 | 48 | 51 | 51 | 56 | 44 | 61 | 45 |
| EPS (₹) | 8.40 | 8.81 | 9.37 | 9.55 | 10.52 | 7.83 | 11.43 | 8.52 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Sale of Software Services | 933 | 66.1 |
| Sale of equipment and product license | 278 | 19.7 |
| Sale of Equipment and product license | 200 | 14.2 |
| Total, before eliminations | 1,411 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSULTANCY SERV LT | 8,87,298 | 17.8 | 8.18 | 12.2 | 45.6 | 53.9 | 10.2 | 26.9 |
| INFOSYS LIMITED | 4,55,550 | 15.2 | 4.88 | 9.6 | 31.6 | 38.6 | 12.2 | 25.7 |
| HCL TECHNOLOGIES LTD | 3,78,281 | 21.6 | 5.03 | 13.6 | 22.1 | 26.2 | 11.5 | 20.9 |
| WIPRO LTD | 1,82,720 | 14.6 | 2.07 | 8.7 | 15.0 | 17.1 | 8.4 | 22.9 |
| TECH MAHINDRA LIMITED | 1,74,293 | 30.7 | 5.79 | 19.5 | 16.0 | 18.8 | 8.5 | 16.8 |
| LTM LIMITED | 1,21,357 | 23.2 | 5.03 | 14.7 | 20.7 | 24.8 | 27.9 | 20.0 |
| PERSISTENT SYSTEMS LTD | 91,811 | 47.3 | 11.71 | 31.4 | 23.8 | 28.5 | 28.6 | 17.8 |
| COFORGE LIMITED | 86,606 | 39.8 | 8.95 | 30.9 | 18.0 | 17.2 | 28.6 | 18.6 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.1 | 15.0 | 28 of 65 | 58% |
| P/B | 1.7 | 2.6 | 21 of 65 | 69% |
| ROCE | 14.1 | 14.2 | 40 of 76 | 48% |
| ROE | 12.1 | 11.5 | 31 of 64 | 52% |
| Debt / Equity | 0.0 | 0.0 | 33 of 65 | 50% |
| EBITDA margin | 19.0 | 18.4 | 29 of 65 | 56% |
| Revenue growth | 6.3 | 10.6 | 41 of 63 | 36% |
| Profit growth | (11.1) | 6.7 | 43 of 62 | 31% |
| Market cap | 2894 | 419 | 25 of 76 | 68% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Aurionpro partners with Mastercard for North America transit payments | strategic transactions | medium | — | — |
| 14 Oct 2026 · Aurionpro wins Matkahuolto contract for Finland transit payments | business updates | high | — | — |
| 9 Oct 2026 · Q2 FY27 Earnings Call scheduled for November 2, 2026 | board shareholder meetings | low | — | — |
| 8 Oct 2026 · Compliance certificate on dematerialization for Sep 2026 quarter | compliance | minimal | — | — |
| 5 Oct 2026 · Aurionpro wins Rs 150 crore data centre order from global hyperscaler | compliance | low | — | — |
| 29 Sept 2026 · All 6 resolutions passed at Aurionpro AGM; final dividend Rs 2 per share approved | compliance | minimal | — | — |
| 29 Sept 2026 · 29th AGM held; final dividend of Rs 2 per share and key resolutions approved | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 until Q2 FY26 results declaration | compliance | minimal | — | — |
| 16 Sept 2026 · Aurionpro to participate in Anand Rathi conference on Sept 22 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Aurionpro 29th AGM notice published; e-voting facility announced | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.