Company to focus on aggressive debt repayment
Monday, May 30, 2016, Mumbai, India
Aurionpro Solutions Ltd (NSE: AURIONPRO) (BSE: 532668), a global technology solutions provider headquartered in Mumbai, announced its financial results for the fourth quarter ending March 31, 2016 and financial year FY15-16.
Q4 FY 15-16 Financial Highlights:
- Total revenue for the period was Rs.182.02 Crores, up 5.5% YoY
- Consolidated EBITDA for the quarter was Rs.23.85 Crores, up 1.9% YoY
- Consolidated net profit was Rs.12.01 Crores
FY 15-16 Financial Highlights:
- Total revenue for the financial year was Rs.710.43 Crores, down 3.6% YoY
- Consolidated EBITDA for the financial year was Rs.92.65 Crores*
- Consolidated net profit was Rs. 55.09 Crores
*For like to like comparison, FY15 EBITDA was Rs 113.83 Cr after removing capitalization impact.
“In FY 15-16, our aim was to simplify and sharpen focus on our core businesses – Digital Innovation, Enterprise Security and Banking Solutions. We have progressed well towards this goal. Revenues from Digital Innovation have grown significantly over the last 4 quarters. We signed a definitive agreement to acquire Spikes Security that will significantly expand our Cyber Security portfolio”, said Samir Shah, CEO of Aurionpro, “Simultaneously, we commenced exiting non-strategic businesses. Our recent sale of our US based IT consulting business to Saicon was a step in this direction. In FY 16-17, we will aggressively focus on debt repayment and streamlining financial structure to aid profitable revenue growth.”
The company has repaid debt to the tune of Rs. 26.54 Crores through the fiscal. Since the close of financials in March, company has paid down further Rs. 23.12 Crores ( $3.5 Mn) in US. The company will continue to focus on aggressive debt repayment throughout FY 16-17.
Q4 FY15-16 Key Highlights
Growth of Digital:
- Revenues from Digital Innovation rose to 28% of company revenues from 20% through the fiscal. Most of this revenue was derived from IP-sales
- Won purchase order valued at Rs. 121 Crores from Nagpur Metro for building and managing digital platform for running all operations
- Significantly scaled up operations for Queue Management solutions for a leading Indian Bank. Aurionpro helped Client engage customers Digitally through a dedicated App. Additionally, helped Client scale up to nearly 2500+ Kiosks in India
- The industry leading Interact DX product for client communications went live for five Financial services and Telco clients this quarter helping them bring interactivity and engagement to their communications with consumers and employees
- Signed definitive agreement to acquire Spikes Security expanding portfolio of offerings with cutting edge IP in Malware Isolation and Cyber Security. Closure of acquisition scheduled to be completed in six weeks
- Won a new client deal with leading Car Maker in USA and extended relationships with new projects at two leading US Banks
Banking Industry Solutions asserts leadership in Asia:
- Four new client wins across the year in ASEAN region. Four of the five regional banks in the ASEAN region are now Aurionpro customers
- Major win with leading Middle East bank firmly establishing Aurionpro as leaders in Asia
The board has recommended a dividend of Rs 3/- (30%) per equity share of the face value of Rs. 10 each in its meeting held on 30 May 2016 subject to approval of the members of the Company at the forthcoming Annual General Meeting.
Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) is an Aurionpro is global technology solutions leader that helps enterprises accelerate digital innovation, securely and efficiently. We combine core domain expertise, thought leadership in innovation, security and leverage industry leading IP to deliver measurable business results for global corporations.
With revenues of $110+ MN USD and employing more than 1,400 experts across North America, Asia, and Europe, the company has been named among the top 100 technology companies for Financial Services worldwide in 2015. For more information, visit www.aurionpro.com.