AION-Tech Solutions Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Software License: 86.4% • Information Technology/Software Services: 13.6%
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company has delivered good profit growth of 68.6% CAGR over last 5 years
- Company is almost debt free
- Company has delivered good sales growth of 19.8% CAGR over last 5 years
- Company comfortably covers its interest (25.4x coverage)
- Institutional investors have been accumulating - FII+DII up 6.3pp
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 71.5% versus prior year
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.57x)
- Company has a low return on equity of 9.9% over last 3 years
- Rich enterprise valuation - EV/EBITDA of 29.3x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2300.90 | 16.72 | 832485.76 | 4.78 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1130.00 | 15.14 | 458580.27 | 4.25 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1294.00 | 20.15 | 351148.26 | 4.17 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 176.80 | 13.25 | 175109.01 | 6.22 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1592.00 | 30.38 | 156037.29 | 3.20 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4550.00 | 25.80 | 134962.70 | 1.65 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 12067.35 | 30.79 | 105086.26 | 3.31 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5655.00 | 46.38 | 89207.62 | 0.71 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1967.45 | 49.61 | 87153.72 | 0.80 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2425.35 | 24.23 | 46294.46 | 2.56 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3492.45 | 28.07 | 37047.05 | 1.66 | 3571.00 | 1029.71 | 29401.00 | 1014.73 | 27.70 | 18.65 |
| GOLDTECH | 47.62 | 38.54 | 248.87 | 0.00 | -2.60 | -143.83 | 27.02 | 40.45 | 16.07 | 4.97 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 14 | 20 | 23 | 22 | 16 | 19 | 22 | 29 | 16 | 20 | 29 | 35 | 149 | |
| 13 | 20 | 21 | 21 | 15 | 19 | 22 | 29 | 17 | 20 | 26 | 31 | 162 | |
| Operating Profit | 0 | 0 | 2 | 1 | 1 | 0 | 0 | 0 | -1 | -0 | 3 | 4 | -13 |
| OPM % | 3.48% | 1.95% | 8.21% | 4.65% | 6.81% | 2.49% | 0.18% | 0.83% | -6.64% | -0.15% | 10.10% | 10.07% | -8.66% |
| 0 | 0 | 0 | 0 | 0 | 16 | 1 | 2 | 15 | 1 | 0 | 1 | 9 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 5 |
| Profit before Tax | 0 | 0 | 2 | 1 | 1 | 16 | 0 | 1 | 13 | 0 | 3 | 4 | -3 |
| Tax % | 43.33% | 13.64% | 34.32% | -31.82% | 30.43% | 12.39% | 411.11% | 41.86% | 16.97% | 0.00% | 23.08% | -21.83% | -0.86% |
| Net Profit | 0 | 0 | 1 | 1 | 0 | 14 | -0 | 1 | 11 | 0 | 2 | 5 | -4 |
| 0.05 | 0.05 | 0.32 | 0.26 | 0.14 | 4.01 | -0.08 | 0.22 | 2.39 | 0.06 | 0.38 | 0.86 | -0.07 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 24 | 22 | 25 | 34 | 35 | 42 | 55 | 75 | 79 | 87 | 99 | |
| 24 | 22 | 23 | 31 | 33 | 40 | 56 | 71 | 75 | 85 | 94 | |
| Operating Profit | -0 | -0 | 2 | 3 | 2 | 2 | -1 | 4 | 4 | 2 | 5 |
| OPM % | -0.07% | -0.03% | 8.28% | 9.02% | 5.33% | 4.84% | -1.65% | 5.02% | 4.80% | 2.17% | 5.16% |
| 0 | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 1 | 19 | 3 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 |
| Profit before Tax | -5 | -0 | 2 | 3 | 1 | 2 | 1 | 4 | 3 | 18 | 6 |
| Tax % | 81.39% | 1089.17% | -46.26% | 37.46% | 12.89% | 23.49% | 25.78% | 30.45% | 18.30% | 17.18% | -3.31% |
| Net Profit | -1 | 1 | 2 | 2 | 1 | 1 | 1 | 3 | 2 | 15 | 6 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.76 | 0.37 | 0.77 | 0.68 | 4.28 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 12%
- 5 Years:
- 20%
- 3 Years:
- 16%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 69%
- 3 Years:
- 148%
STOCK PRICE CAGR
- 10 Years:
- 19%
- 5 Years:
- 18%
- 3 Years:
- -19%
- 1 Year:
- -31%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 7%
- 3 Years:
- 10%
- Last Year:
- 21%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 35 | 35 | 35 | 35 |
| 35 | 5 | 8 | 10 | 11 | 12 | 20 | 23 | 25 | 47 | |
| 12 | 13 | 6 | 6 | 8 | 4 | 7 | 7 | 12 | 7 | |
| Trade Payables | 1 | 2 | 3 | 4 | 6 | 5 | 8 | 9 | 12 | 13 |
| 2 | 4 | 4 | 5 | 5 | 5 | 3 | 5 | 8 | 14 | |
| Total Liabilities | 68 | 43 | 39 | 43 | 48 | 45 | 73 | 79 | 91 | 117 |
| 20 | 10 | 10 | 10 | 10 | 10 | 10 | 14 | 17 | 12 | |
| 9 | 9 | 9 | 9 | 9 | 9 | 9 | 24 | 24 | 25 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19 | 19 | |
| Cash & Bank | 1 | 1 | 1 | 3 | 1 | 1 | 32 | 16 | 20 | 29 |
| 37 | 22 | 19 | 21 | 28 | 25 | 22 | 24 | 11 | 31 | |
| Total Assets | 68 | 43 | 39 | 43 | 48 | 45 | 73 | 79 | 91 | 117 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | -0 | 2 | 4 | -1 | 4 | -2 | 2 | 3 | -16 | |
| Cash from Investing | 0 | 0 | -0 | -0 | 0 | 0 | -30 | -3 | -7 | 20 |
| Cash from Financing | -2 | 1 | 0 | -0 | 1 | -4 | 26 | 0 | 4 | -3 |
| -1 | -1 | 0 | 1 | -1 | -0 | -1 | 0 | -0 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -0.46 | 0.63 | 1.29 | 0.88 | 0.58 | 0.76 | 0.28 | 0.77 | 0.68 | 4.28 |
| Book Value (₹) | 28.52 | 12.82 | 14.19 | 15.16 | 15.76 | 16.59 | 15.86 | 16.66 | 17.34 | 23.68 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.99 | 0.85 | 1.49 | 1.08 | 0.75 | 0.93 | 0.39 | 0.98 | 1.14 | 4.95 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 0.92% | 1.68% | 9.37% | 9.76% | 5.41% | 5.72% | 3.33% | 6.53% | 4.80% | 2.17% |
| Net Margin % | -3.64% | 5.52% | 9.67% | 4.87% | 3.09% | 3.37% | 1.77% | 3.54% | 2.96% | 17.06% |
| ROE % | -1.60% | 3.06% | 9.56% | 6.03% | 3.75% | 4.67% | 2.26% | 4.71% | 3.98% | 20.88% |
| ROCE % | -6.64% | -0.09% | 7.28% | 9.98% | 4.89% | 6.41% | 3.23% | 7.13% | 5.66% | 25.19% |
| -1.21% | 2.14% | 5.91% | 4.03% | 2.38% | 3.03% | 1.64% | 3.49% | 2.75% | 14.26% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 95 | 87 | 90 | 78 | 101 | 95 | 82 | 76 | 84 | 81 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 147 | 155 | 175 | 110 | 110 | 82 | 64 | 62 | 70 | 70 |
| -52 | -68 | -84 | -32 | -9 | 14 | 18 | 15 | 14 | 11 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.22x | 0.06x | 0.08x | 0.08x | 0.14x | 0.00x | 0.07x | 0.00x | 0.06x | 0.03x |
| Interest Coverage (x) | -17.66x | -0.50x | 6.25x | 9.71x | 4.84x | 9.14x | 10.08x | 12.34x | 6.02x | 25.43x |
| 0.45x | 3.33x | 2.10x | 2.24x | 2.00x | 2.63x | 3.73x | 2.96x | 2.07x | 2.09x | |
| GROWTH | ||||||||||
| Revenue Growth % | -18.31% | -9.40% | 16.61% | 35.96% | 3.17% | 19.88% | 30.16% | 36.33% | 5.54% | 9.87% |
| Operating Profit Growth % | -95.44% | 65.29% | 549.45% | 41.56% | -42.82% | 26.90% | -24.27% | 167.47% | 2.78% | 4.97% |
| Net Profit Growth % | 77.24% | 237.21% | 104.30% | -31.51% | -34.50% | 30.51% | -31.69% | 173.09% | -11.70% | 533.30% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -11.70% | 533.26% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 190.12x | 12.22x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.41x | 2.21x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 85.17x | 29.27x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - AION-TECH SOLUTIONS LIMITED has informed the Exchange about Copy of Newspaper Publication confirming dispatch of the Notice of the 32nd Annual General Meeting
2026-09-03 - AION-TECH SOLUTIONS LIMITED has informed the Exchange about AnnualReport for the Financial Year 2025-26 under Regulation 30 and 34(1) of SEBI (LODR)Regulations, 2015
2026-09-03 - AION-TECH SOLUTIONS LIMITED has informed the Exchange regarding Notice of 32nd Annual General Meeting to be held on September 28, 2026
2026-08-29 - AION-TECH SOLUTIONS LIMITED has informed the Exchange about Copy of Newspaper Publication
2026-08-28 - AION-TECH SOLUTIONS LIMITED has informed the Exchange regarding Outcome of Board Meeting held on August 28, 2026.
2026-08-13 - AION-TECH SOLUTIONS LIMITED has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - AION-TECH SOLUTIONS LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-10 - AION-TECH SOLUTIONS LIMITED has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Regulations, 2015 for further investment in ROQIT GREENFLEET DIGITAL SOLUTIONS PRIVATE LIMITED (wholly owned subsidiary)- 10.07.2026
2026-07-10 - AION-TECH SOLUTIONS LIMITED has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Regulations, 2015 for further investment in ROQIT GREENFLEET DIGITAL SOLUTIONS PRIVATE LIMITED (wholly owned subsidiary)
News
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