Aurionpro delivers another year of strong growth, driven by market expansion and accelerating adoption of next generation platforms

Q4 FY23 Revenue grows 39% YoY & Ebitda expands 33% YoY
Full Year FY23 Revenue grows 31% & Ebitda expands 30%

Q4 & FY23 Financial Results & Business Updates

Mumbai, May 16, 2023

Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO), announced its unaudited financial results for the quarter and year ending 31st March, 2023.The Company has posted strong YoY performance and these results demonstrate the strong growth momentum in the business.

Results Highlights:

• Revenue for the quarter stood at INR 191 Cr, a significant growth of 39% on a YoY basis and 13% on a QoQ basis.
• EBITDA for Q4FY23 stood at INR 40 Cr as compared to INR 30 Cr in Q4FY22, a growth of 33% on a YoY basis and 9% on a QoQ basis. EBITDA margins for the quarter stood at 21%
• PAT for Q4FY23 stood at INR 27 Cr, which is a growth of 23% on a YoY basis and 2% on a QoQ basis
• In FY23, the company achieved it’s revenue target of INR 659 Cr with a growth of 31% YoY
• EBITDA & PAT for FY23 was higher by 30% & 35% respectively on a YoY basis
• EPS for Q4FY23 stood at INR 11 and for FY23 it stood at INR 42.69, which was an increase of 38% on a YoY basis

Operational Highlights:
Banking & Fintech

• • Aurionpro’s subsidiary Integro signs partnership with Finastra, a global provider of financial software applications and marketplaces, to offer Integro’s SmartLender Trade Limits solution alongside its own Trade Innovation solution.
  • A leading bank in the Middle-East selects Auro-Digi, our latest product offering, becoming first customer for this newly launched product.
  • Aurionpro Payment Solutions Pvt. Ltd., a wholly owned subsidiary received an in-principle approval from the Reserve Bank of India (RBI) to set up Payment Aggregator business.

Technology Innovation Group

• Aurionpro partners with Webwerks to successfully operationalize Tier 3 data centers (DC) in Navi Mumbai, Hyderabad and Bangalore. Aurionpro is supporting Webwerks with DC Design, Consultancy, Master Planning and also DC turnkey build, in these projects.
• Successful go-live of “IoT based Integrated Bus ticketing System” for the Uttar Pradesh State Road Transport Corporation (UPSRTC)
• SME Chamber of India recognizes Aurionpro with BEST ENTERPRISE OF THE YEAR AWARD IN IT SECTOR, for Aurobees, its innovative platform focused on SMEs.

Management Commentary
Mr. Ashish Rai, Vice-Chairman & Director said:

“We are delighted to announce these results which underline continuing strong growth momentum across all our key businesses. Q4 growth meaningfully exceeded our guidance and we delivered full-year results slightly above the high end of our guided range of 25-30% growth. Our strategy to build highly differentiated global products and platforms continues to gain traction and FY23 was a landmark year in demonstrating the ability of our chosen playbook to drive industry leading growth and margins. Both of our core divisions exceeded their operational targets for the year, which points to an exceptional execution from Aurionpro teams across the world.

What makes this performance truly special is that the businesses have delivered this performance while also meeting our long-term objectives of accelerating R&D to create next generation platforms as well as creating a best-in-class global sales channel to fuel our next leg of expansion. We have also made great progress in adding capacity across the enterprise. Taken together, these achievements allow us to be ready for a phase of rapid, sustained growth powered by increasing market share in our home markets as well as expansion in identified growth markets.

Our execution focus for the next year will be to step up our R&D investments to capitalize on the immense growth opportunities for our products that come with planned market expansion as well as offering expansions. Many of our key offerings and platforms are fast approaching inflection point where they go from being regional leaders in Asia to credible global leaders in their chosen segments. This reinforces our strong conviction that the best way to expand long term intrinsic value of Aurionpro is by creating highly valuable, market leading IP that drives long term value for our clients as well as drives sticky, high margin revenue streams for us.

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. We believe we are in a great position to continue our strong growth trajectory and we expect FY 24 growth to be in the range of 30 – 35%. As we navigate the tremendous growth opportunities in front of us, our capital allocation strategy will continue to get more stringent, setting a high bar for expected ROI on all reinvested capital. This will ensure we stay focused on initiatives that capitalize on the most rewarding growth opportunities and continue to create enduring, long term value for all our stakeholders”.