1. At a Glance – Blink and You’ll Miss Something
Aurionpro Solutions is what happens when an IT company wakes up one morning and decides it doesn’t want to be just IT anymore. At a market cap of ₹5,035 Cr, a current price of ₹911, and a 3-month return of -16%, the stock market is currently giving Aurionpro the silent treatment. And yet, under the hood, the company quietly posted Q3 FY26 revenue of ₹371 Cr with 21% YoY growth, while PAT came in at ₹47.8 Cr, almost flat YoY thanks to exceptional charges playing spoilsport.
Margins are still holding up like a disciplined gym bro — OPM ~20%, ROCE 18.1%, ROE 15.3%, debt practically nonexistent at ₹29.7 Cr, and interest coverage at a comical 38x. The real flex? An order book of ₹1,150 Cr, split 40:60 between Banking & Fintech and TIG, basically giving management visibility that most mid-cap IT companies would sell a kidney for.
But then there’s the elephant in the room — promoter holding at 26.9%, steadily sliding over the years. So yes, Aurionpro is growing, diversifying, acquiring globally, and signing multi-year metro + banking contracts… while the stock sulks like it didn’t get dessert.
Curious yet? You should be.
2. Introduction – From IT Vendor to “Bro, We Do Everything”
Founded in 1997, Aurionpro started life like most Indian IT companies — software + services for banks. Over time, instead of choosing a single high-conviction lane, management decided to open a full buffet. Today, Aurionpro spans transaction banking platforms, fintech products, customer experience systems, smart cities, smart transportation, cybersecurity, data centers, and AI explainability.
If this sounds confusing, congratulations — you’re thinking like the market.
But here’s the twist: unlike many “strategy deck champions,” Aurionpro actually converts PowerPoint into purchase orders. Banks deploy its iCashpro+, SmartLender, Omnifin, FXConnect, metros use its AFC and PSD systems, and municipalities sign Safe City contracts. This isn’t vaporware.
FY25 has been particularly spicy. Banking & Fintech revenue grew 51% YoY in H1, TIG grew 13% YoY, and management is openly chasing 30%+ growth, both organic and
inorganic. The acquisitions of Arya.ai and Fenixys weren’t vanity buys — they directly plug into AI, risk analytics, and capital markets consulting.
So why the stock pain? Because markets hate complexity, hate low promoter holding, and hate anything that doesn’t fit neatly into a one-line description.
Aurionpro is not boring. And boring is what the market usually prefers.
3. Business Model – WTF Do They Even Do?
Let’s simplify this without lying.
Banking & Fintech (56% of H1 FY25 revenue)
This is Aurionpro’s bread, butter, and occasional dessert. The company sells transaction banking platforms, cash management systems, lending platforms, onboarding tools, and payment solutions to banks across India, MEA, APAC, and Europe.
Think:
- Corporate cash management (iCashpro+)
- Lending platforms (SmartLender)
- Digital onboarding (Auro Check)
- Payment ecosystems (AuroPay, AuroPaybiz)
These are sticky, multi-year contracts with licensing + AMC + upgrades. Once embedded, banks don’t casually rip these out like a mobile app.
Technology Innovation Group (44%)
This is where things get… interesting.
TIG includes:
- Smart city & safe city projects
- Metro rail AFC & PSD systems
- Data center design & build
- Hybrid cloud & infra solutions
- Platforms like Aurobees, Interact DX, Arya.ai
Yes, this mixes software margins with infra-style execution. Risky? Potentially. But it also gives Aurionpro access to large-ticket government and enterprise contracts, including multi-year metro projects worth ₹150–250 Cr.
In short: Banking pays the bills, TIG fuels ambition.
Question for you: would you rather be boringly predictable or messily ambitious?
