Aion-Tech borrowings rise to Rs 137.471 crore by September

AION-TECH SOLUTIONS LIMITED reported consolidated borrowings of Rs 137.471 crore at September 30, 2026, up from Rs 73.2031 crore at March 31, 2026, while its six-month net operating cash outflow was Rs 42.21 crore. Higher long-term and short-term debt, together with Rs 41.842 crore of financing cash inflow, supported the group’s cash movements.

How much did Aion-Tech’s borrowings increase by September 2026?

Aion-Tech’s consolidated borrowings increased by Rs 64.2679 crore from Rs 73.2031 crore at March 31, 2026 to Rs 137.471 crore at September 30, 2026. Non-current borrowings rose to Rs 60.4779 crore from Rs 17.7285 crore, while current borrowings increased to Rs 76.9931 crore from Rs 55.4746 crore, according to the unaudited consolidated balance sheet.

The borrowing increase included a larger rise in non-current debt than in current debt. Non-current borrowings increased by Rs 42.7494 crore during the six months, compared with a Rs 21.5185 crore increase in current borrowings. Current borrowings nevertheless remained the larger component at September 30, at Rs 76.9931 crore versus Rs 60.4779 crore of non-current borrowings.

Why did Aion-Tech report an operating cash outflow?

Aion-Tech used Rs 42.21 crore in operating activities in the six months ended September 30, 2026, compared with an operating cash outflow of Rs 39.308 crore in the corresponding 2025 period. Cash generated from operations was negative Rs 41.179 crore and income taxes paid were Rs 1.031 crore, resulting in the reported net operating outflow.

The largest disclosed working-capital movement was a Rs 47.492 crore increase in other current assets. That use of cash was partly offset by a Rs 5.749 crore increase in trade payables, while loans used Rs 5.046 crore and current other financial assets used Rs 1.807 crore. Trade receivables released Rs 1.102 crore of cash, and operating profit before working-capital changes was Rs 6.853 crore, compared with Rs 7.5 lakh a year earlier.

How did Aion-Tech finance its six-month cash movements?

Aion-Tech generated Rs 41.842 crore of net financing cash in the six months ended September 30, 2026, compared with Rs 16.86 crore in the corresponding previous-year period. Net proceeds from long-term borrowings were Rs 42.749 crore and net proceeds from short-term borrowings were Rs 21.519 crore, together exceeding the Rs 42.21 crore operating cash outflow.

Financing inflows were reduced by Rs 19.679 crore of lease-liability payments, Rs 2.679 crore of interest paid on borrowings and charges, and Rs 6.8 lakh of bank charges. The cash-flow reconciliation also recorded Rs 1.664 crore of interest on lease liabilities. Consolidated finance cost was Rs 4.414 crore for the six months, compared with Rs 1.904 crore in the corresponding 2025 period.

Aion-Tech said it availed a Rs 10 crore overdraft facility from ICICI Bank at 9% per annum, comprising a 5.25% repo rate and a 3.75% spread. The company said it consequently closed a Rs 50 lakh overdraft facility with Union Bank of India. The filing does not state how much of the ICICI Bank facility had been drawn at September 30, 2026.

What did Aion-Tech’s operating results show alongside the funding change?

Aion-Tech’s revenue from operations rose to Rs 60.414 crore for the six months ended September 30, 2026 from Rs 52.72 crore in the comparable 2025 period. Software Licenses Resale revenue increased to Rs 35.669 crore from Rs 31.831 crore, while E-Vehicle Mobility revenue rose to Rs 21.097 crore from Rs 16.467 crore. Information Technology Service and Software Services revenue declined to Rs 3.844 crore from Rs 4.447 crore.

Aion-Tech recorded a consolidated loss after tax of Rs 3.584 crore for the six months, compared with profit after tax of Rs 5.461 crore in the prior-year period. The earlier period included Rs 13.694 crore of profit on sale of land, whereas no such exceptional item was reported for the 2026 six-month period. The reported loss before tax was Rs 3.571 crore, against profit before tax of Rs 7.62 crore a year earlier.

The E-Vehicle Mobility segment reported a Rs 3.166 crore loss after finance costs and depreciation, compared with a Rs 5.355 crore loss a year earlier. Its finance costs increased to Rs 3.968 crore from Rs 1.595 crore and depreciation rose to Rs 6.409 crore from Rs 4.469 crore. The combined Information Technology Service, Software Services and Software Licenses segment reported a loss of Rs 40.5 lakh, compared with Rs 71.9 lakh in the prior-year period.

What else changed on Aion-Tech’s balance sheet?

Aion-Tech’s total consolidated assets stood at Rs 495.1871 crore at September 30, 2026, compared with Rs 446.9811 crore at March 31, 2026. Other current assets increased to Rs 52.9575 crore from Rs 5.4658 crore, consistent with the Rs 47.492 crore operating cash outflow identified in that line of working capital. Cash and cash equivalents rose to Rs 16.9326 crore from Rs 10.5314 crore.

Equity share capital was unchanged at Rs 52.2618 crore, while other equity declined to Rs 251.3267 crore at September 30 from Rs 253.4056 crore at March 31. Trade payables increased to Rs 23.7604 crore from Rs 18.0118 crore. Non-controlling interest declined to Rs 4.9209 crore from Rs 6.1469 crore over the same six-month period.

Conclusion

Aion-Tech’s September 2026 consolidated statements show that new borrowing was a central source of funding during the six months. Long-term and short-term borrowing proceeds supported cash movements alongside a Rs 42.21 crore operating cash outflow, taking total borrowings to Rs 137.471 crore while cash and cash equivalents ended at Rs 16.9326 crore.

The next reporting period will show whether the Rs 47.492 crore increase in other current assets converts into operating cash flow and how the Rs 10 crore ICICI Bank overdraft facility affects borrowings and finance costs. Aion-Tech also said GTL Aion IT Solutions L.L.C., its Dubai subsidiary, had not commenced operations because of geopolitical uncertainties, leaving the timing of its operations unresolved.