Mumbai, India – August 31, 2011: aurionPro Solutions Ltd (NSE: AURIONPRO, BSE: 532668) today announced financial year ended March 31, 2011.
Financial Highlights:
Consolidated performance include numbers standalone and of all the subsidiaries of the company for the year including Aurionpro Solutions Pte. Ltd., Singapore, Integro Technologies Pte. Ltd, Singapore, Integro Technologies SDN. BHD, Aurionpro Solutions INC, USA, Aurionpro Solutions SPC, Bahrain, E2E Infotech Limited, UK, Aurionpro Solutions (Hong Kong) Limited, Auroscient Outsourcing Limited, India, Aurofidel Outsourcing Limited, India, SENA Systems Pvt Ltd, India, Aurionpro Solutions PTY Ltd, Australia, Aurionpro SCM Pte Ltd, Singapore in the year ended 31st March, 2011.
aurionPro has proven strong growth over the past year, delivering software solutions that drive efficiencies at more than 300 clients. Commenting on the results, Mr. Banesh Prabhu, Chairman & CEO, said “We have achieved impressive growth across our software and services businesses during our 2010-2011 fiscal year, throughout which the Company has continued our planned business trajectory.”
Positive results were achieved consistently across all geographies and all Practices. Much of the success was due to a number of key hires and organizational changes, subsidiary consolidation proceedings, and dynamic activities with our strategic Partners.
NEW DEVELOPMENTS AMONG SUBSIDIARIES:
Several milestones were completed over the course of the year focused on streamlining operational overhead through the consolidation of subsidiary entities. Silicon Tech Corp, USA and SENA Systems Inc, USA were both merged with aurionPro Solutions Inc, USA with effect from 01st April, 2010 and 01st July, 2010 respectively.
Further, the shareholders and unsecured creditors of the Company have approved the Scheme of Amalgamation of E2E INFOTECH (INDIA) PVT. LTD and KAIROLEAF ANALYTICS PVT LTD. with AURIONPRO SOLUTIONS LTD. with the requisite majority at their meeting held on 24th January, 2011. The Company has filed the necessary documents with the Court and the Court have approved the scheme vide its order dated 10th June, 2011. Accordingly the shareholders of Kairoleaf Analytics Pvt Ltd have been allotted 10,81,961 shares of Aurionpro Solutions Ltd.
NEW INITIATIVES:
Several key individuals were added to the aurionPro management team over the course of the year. Mr. Banesh Prabhu joined as the global CEO for the aurionPro Group of companies and as Chairman of the Board for aurionPro Solutions Ltd. Banesh brings 25 years of global experience to his roles, previously serving as the International Head of Consumer Operations for Citigroup Operations and Technology where he led Banking operations for more than 50 countries. Banesh brings global leadership experience and a deep understanding of the Banking and Financial Services industries to continue the expansion of aurionPro’s software and services offerings.
Significant organizational changes were also made in order to increase aurionPro’s visibility in the market while maintaining the highest level of customer satisfaction. A Global Customer Satisfaction and Delivery Group has been formed to deliver the highest level of service to our Clients. Mr. Shafi Shaikh has been appointed as the chair of this team, to which he will bring more than 20 years of experience in global service delivery and operational best practices. Shafi and his team will work closely together with each of aurionPro's Practice-focused and regionally organized resources by sharing best practices and leveraging common standards, infrastructure and capabilities.
Similarly, aurionPro has streamlined its Corporate Marketing function to improve the consistency and effectiveness of how aurionPro positions and messages its capabilities across customer, prospect, partner, employee, recruiting, and investment communities. Jonathan Bank, previously the Global Head of aurionPro’s Web Solutions/ECM Practice, is leading this new corporate function as the Executive Vice President and Group Director – Marketing. Jonathan brings extensive Consulting and Software Sales & Marketing, Product Management, and Business Development Leadership experience to this critical role.
REVIEW OF OPERATIONS:
Alliances are a core component of aurionPro’s business strategy and the Company was extremely active with our Partner community in 2010-2011. Dozens of co-marketing events, conferences, and client round tables were completed, including: co-hosting a client round table with Microsoft on the topic of the “Real-Time Enterprise”, being invited to be a key speaker at the inaugural Cloud Security Alliance meeting in Boston, and leading and participating in a number of Oracle, IBM, Microsoft, Open Text, Misys, and EMC conferences and webinars over the course of the year.
aurionPro’s SENA Systems business, a Gold Level Oracle Partner, was recognized as one of the most respected partners in Oracle’s network by being awarded an Honorable Mention for the Oracle 2010 North American Titan Award for Excellence in Security and Identity Management. Oracle's Titan Awards recognize leading partners in North America, honoring solutions delivered in 2010. This is the third consecutive year that SENA has featured in the Oracle Titan Awards, this year being recognized for its Oracle Entitlement Solution implementation with a major global financial institution.
aurionPro added to its stable of partnerships by entering into a global partner agreement through E2E Infotech (India) Pvt Ltd, a wholly owned subsidiary, with CameronTec, the financial industry’s leading provider of FIX infrastructure and connectivity solutions. The terms of this agreement gives E2E specific CameronFIX Reseller rights for the Middle East and Indian markets.
aurionPro worked with more than 300 customers during our 2010-2011 fiscal year, adding a number of top tier corporations to our client list. Highlights included:
Commenting on the operations, Mr. Prabhu added “International projects are helping us to further improve our processes, capabilities, and profit margins. We expect to leverage the enhanced strengths of aurionPro’s global operations to continue our growth momentum in the coming years.”
About aurionPro
aurionPro Solutions (NSE: AURIONPRO) (BSE: 532668) delivers software solutions that drive efficiencies in the secure exchange of information, financial assets, and goods across the globe. Headquartered in Mumbai, the company was recently recognized by Deloitte and Forbes as one of the fastest growing technology companies in India. aurionPro has demonstrated consistent growth since its inception in 1997 and currently employs more than 1200 individuals across Asia, Europe, and the United States. For more information, visit www.aurionpro.com.
For further information please contact:
Tel: + 91 22 6770 7713
Email: info@aurionpro.com
For aurionPro Solutions Limited:
Mehul Raval
Company Secretary
