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Shares of Aurionpro Solutions were locked in 10 per cent upper circuit of 10 per cent at Rs 581.50 in Wednesday's intra-day trade, on strong growth outlook.
In the past 11 weeks, the market price of Aurionpro Solutions has nearly been doubled or zoomed 100 per cent from Rs 190.80 on March 28. The stock of technology solutions company hit a multi-year high and traded at its highest level since 2008. Earlier, it had hit a record high of Rs 614.75 on January 4, 2008.
Aurionpro Solutions caters to needs of banking, mobility, payments, and government sectors. The management believes that the company is in a great position to continue its strong growth trajectory and expect FY24 growth to be in the range of 30-35 per cent.
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With a strong order book of over Rs 820 crore, the management expects sustainable growth trajectory going forward. The company is a dominant player in the banking & fintech industry in Asia and one of the few integrated global players in the Automated Fare Collection (AFC) space.
“We enter the current year with a strong combination of favorable factors that should allow us to accelerate further and continue to lead the industry in terms of both growth and margins. We have started FY24 with a growing pipeline, a strong order book, a slate of market leading products, and an execution machine that has now delivered two consecutive years of high growth since we revamped our strategic framework,” the management said.
Meanwhile, the company’s January-March (Q4FY23) quarter growth meaningfully exceeded its guidance and delivered full-year results slightly above the high end of its guided range of 25-30 per cent growth.
In Q4FY23, the company’s consolidated revenue grew 39 per cent year-on-year (YoY) and 13 per cent quarter-on-quarter (QoQ) to Rs 191 crore. The company saw consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) rise 33 per cent YoY to Rs 40 crore; Ebitda margin stood at 21 per cent, as against 22 per cent in Q4FY22. Profit after tax, too, increased 23 per cent YoY at Rs 27 crore.
