This small-cap stock announced a significant order win from India’s largest commercial bank, State Bank of India (SBI), worth approximately Rs. 100 crore.
With a market cap of Rs. 5,012.6 crore, the shares of Aurionpro Solutions Limited opened at Rs. 2,038 on March 12th, compared to its previous closing price of Rs. 2,058.3.
In the last one year, the company has delivered about 510.9 percent of multibagger returns and nearly 65.7 percent in the last six months. So far in 2024, it has delivered negative returns of around 10.7 percent.
According to the recent filings on the stock exchanges, Aurionpro Solutions Limited received an order from the State Bank of India (SBI) for the license, implementation and support of iCashpro+, next-gen cash management and transaction banking platform.
Aurionpro’s iCashpro+ solution is built on modern cloud technology and a microservices-based architecture that includes the latest market features, making it extremely flexible, parameterized, robust, scalable, and agile.
The order, worth about Rs. 100 crores comprises license and implementation, which will be delivered in phases over 12 months, followed by maintenance and support for 6 years.
This will work smoothly with SBI’s core banking systems, Payments Hub, and a variety of internal and external platforms.
This integration will further allow SBI to interact with leading ERP solutions, fintechs, and open banking platforms, enabling it to meet changing customer expectations and industry standards.
SBI selected iCashpro+ to upgrade its present Cash Management Product (CMP) platform to address the growing demands of its business.
In terms of financials, the revenue from operations of the company grew by 9.4 percent QoQ from Rs. 211 crore in Q2 FY23-24 to Rs. 231 crore in Q3 FY23-24.
Further, the company also witnessed an increase in the net profit on a quarter-on-quarter basis by nearly 11.7 percent to Rs. 38 crore in Q3 FY23-24 from Rs. 34 crore in Q2 FY22-23.
Headquartered in Mumbai, Aurionpro Solutions Limited is an advanced technology solutions company serving the needs of the banking, mobility, payments, and government sectors.
Written by Shivani Singh
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