Shares of Aurionpro Solutions locked in a 10% upper circuit at Rs 581.50 in intraday trade on Wednesday on strong growth prospects.

In the last 11 weeks, Aurionpro Solutions’ market price has nearly doubled or 100% from Rs 190.80 on March 28. Shares of the technology solutions company hit multi-year highs, trading at levels not seen since 2008. Earlier, it hit an all-time high of Rs 614.75 on January 4, 2008.

Aurionpro solutions address the needs of the banking, mobile, payments and government sectors. Management believes the company is well-positioned to continue its strong growth trajectory and expects FY24 growth to be in the range of 30% to 35%.

With a strong order book of over Rs 820 crore, management expects sustainable growth going forward. The company is a dominant player in the banking and fintech industries in Asia and one of the few global conglomerates in the automated ticketing (AFC) space.

“This year, we enter the year with a strong combination of favourable factors that will allow us to accelerate further and continue to lead the industry in terms of growth and margins. We have a growing pipeline from FY24, strong orders, a portfolio of market-leading products, and an execution machine that has delivered two consecutive years of high growth since our revamped strategic framework,” management said.

Meanwhile, the company’s quarterly growth in January-March (Q4FY23) significantly exceeded its guidance, and its full-year results were slightly above the high end of its 25-30% growth guidance range.

In Q4FY23, the company’s consolidated revenue rose 39% YoY and 13% QoQ to Rs 1.91 crore. The company’s comprehensive Ebitda rose 33% year-on-year to Rs 40 crore. Ebitda margin was 21% compared to 22% in Q4FY22. Profit after tax also rose 23% year-on-year to Rs 27 crore.