Aurionpro Q2 revenue rises 16% as EBITDA margin falls 296 bps

Aurionpro reported Q2FY27 revenue from operations of Rs 415 crore, up 16.0% year on year, but earnings before interest, tax, depreciation and amortisation (EBITDA) declined 1.0% to Rs 71 crore. EBITDA margin fell 296 basis points to 17.2%, while profit after tax (PAT) from continued operations declined 11.4% to Rs 50 crore.

Why did Aurionpro’s Q2 revenue growth not lift profit?

Aurionpro’s Q2FY27 revenue growth did not lift profit because expenses rose faster than revenue on a year-on-year basis. Revenue from operations increased by Rs 57 crore from Rs 358 crore in Q2FY26 to Rs 415 crore in Q2FY27, while total expenses increased by Rs 58 crore from Rs 286 crore to Rs 344 crore. As a result, EBITDA was Rs 71 crore, compared with Rs 72 crore a year earlier.

Quarter on quarter, the picture was different. Revenue rose 15.9% from Rs 358 crore in Q1FY27, EBITDA rose 15.8% from Rs 61 crore, and PAT increased 11.5% from Rs 45 crore. EBITDA margin was effectively unchanged at 17.2% from Q1FY27, but below the 20.1% reported in Q2FY26. PAT margin declined to 12.1% from 15.8% a year earlier and 12.6% in the preceding quarter.

How did Aurionpro’s Q2 sales mix change?

Aurionpro’s Q2FY27 sales mix shifted toward equipment and product licences relative to Q2FY26, while software service sales also increased. Software service sales rose by Rs 19 crore to Rs 226 crore from Rs 207 crore a year earlier. Sale of equipment and product licences increased by Rs 38 crore to Rs 189 crore from Rs 151 crore, accounting for most of the Rs 57 crore increase in quarterly revenue.

Measured against Q2FY27 revenue of Rs 415 crore, software service sales represented about 54.5% and equipment and product licences represented about 45.5%. In Q2FY26, the respective sales amounts were Rs 207 crore and Rs 151 crore out of Rs 358 crore. Sequentially, software service sales fell from Rs 273 crore in Q1FY27 to Rs 226 crore, while equipment and product licence sales rose from Rs 85 crore to Rs 189 crore. The presentation reports the category movements but does not attribute the margin decline to the mix change.

What does Aurionpro’s first-half performance show?

Aurionpro’s H1FY27 results show revenue growth alongside lower operating and net profit than in H1FY26. Revenue from operations rose 11.3% to Rs 773 crore from Rs 694 crore, but total expenses increased 15.5% to Rs 640 crore from Rs 554 crore. EBITDA consequently declined 5.3% to Rs 133 crore, and the EBITDA margin contracted 301 basis points to 17.2% from 20.2%.

PAT from continued operations declined 11.9% to Rs 95 crore in H1FY27 from Rs 108 crore in H1FY26, reducing PAT margin to 12.3% from 15.6%. Profit before tax declined 13.4% to Rs 113 crore from Rs 131 crore. Depreciation and amortisation rose to Rs 25 crore from Rs 19 crore, finance cost rose to Rs 9 crore from Rs 3 crore, and other income increased to Rs 15 crore from Rs 13 crore. Basic earnings per share fell to Rs 17.63 from Rs 19.97.

What changed in Aurionpro’s balance sheet by September 2026?

Aurionpro’s total assets increased to Rs 2,609 crore in September 2026 from Rs 2,316 crore in March 2026, while current assets rose to Rs 1,490 crore from Rs 1,233 crore. Trade receivables increased by Rs 41 crore to Rs 418 crore, inventories rose by Rs 56 crore to Rs 89 crore, and other current assets increased by Rs 83 crore to Rs 388 crore. Cash and cash equivalents declined to Rs 83 crore from Rs 132 crore over the same period.

Aurionpro’s current liabilities increased to Rs 705 crore in September 2026 from Rs 503 crore in March 2026. Current borrowings rose to Rs 151 crore from Rs 50 crore, trade payables increased to Rs 202 crore from Rs 104 crore, and other current liabilities increased to Rs 169 crore from Rs 111 crore. Equity attributable to equity shareholders rose to Rs 1,825 crore from Rs 1,738 crore, while total equity increased to Rs 1,833 crore from Rs 1,745 crore.

What should readers monitor in Aurionpro’s next results?

Aurionpro’s next results will indicate whether revenue growth is accompanied by a change from the 17.2% EBITDA margin reported in both Q1FY27 and Q2FY27. The immediate operating comparison is software service sales, which were Rs 226 crore in Q2FY27 after Rs 273 crore in Q1FY27, and equipment and product licence sales, which rose to Rs 189 crore from Rs 85 crore.

Aurionpro identifies global corporate banking upgrades powered by AurionAI as a strategic driver intended to support client return on investment and recurring annuity revenues. It also cites demand for mobility infrastructure and enterprise data-centre capacity, while its Arya.AI portfolio was deployed across more than 100 live institutions and included more than 100 AI models. The presentation provides no numerical margin target or timing for these initiatives.

Conclusion

Aurionpro delivered higher Q2FY27 revenue of Rs 415 crore and H1FY27 revenue of Rs 773 crore, but year-on-year expense growth exceeded revenue growth in both periods. That divergence was reflected in Q2 EBITDA of Rs 71 crore versus Rs 72 crore a year earlier, a 296-basis-point EBITDA-margin decline, and PAT of Rs 50 crore versus Rs 57 crore.

The next point to watch is execution of Aurionpro’s stated corporate banking upgrade strategy using AurionAI and its aim for recurring annuity revenues, alongside mobility and data-centre offerings. Five key go-lives occurred during Q2FY27, while Arya.AI was deployed across more than 100 live institutions; neither disclosure includes a quantified earnings target or scheduled financial milestone.