CMS Info Systems Q2 FY24 sees 25% PAT growth and 15% revenue surge

CMS Info Systems Limited, one of India‘s forefront business services firms specializing in banking logistics and technology offerings, has released its financial performance for Q2-FY2024. The company’s consolidated revenue for this quarter stood at INR 544 Crore, marking a 15% YoY growth. Furthermore, its Adjusted EBITDA and PAT registered at INR 157 Crore and INR 92 Crore respectively, both reflecting significant YoY growth rates.

Core Financial Highlights for Q2-FY2024

Overall Financial Metrics

The Adjusted EBITDA showcased a YoY growth of 15%, aligning with the revenue growth rate. On the other hand, the Adjusted PAT growth was substantially higher, at 25%. This robust performance pushed the Adjusted PAT Margin to 17%, with a YoY growth of 130 BPS.

Segmental Performance Insights

Cash Logistics Business and Managed Services & Technology Solution Business highlighted a strong revenue performance with INR 361 Crore, growing at 11% YoY. Moreover, its EBIT stood at INR 95 Crore, marking an 18% YoY growth.

Operational Milestones for Q2-FY2024

Key operational achievements for CMS Info Systems this quarter included:

• Capturing new business worth INR 500 Crore.
• Attaining a total of INR 650 Crore in Managed Services as new business wins in H1’FY24.
• Achieving a 12% YoY increase in business points for Cash Logistics, culminating at 129,000.
• Successfully executing Phase 1 of the cassette swap on approximately 15% of ATMs.

Regarding the company’s achievements, Rajiv Kaul, the Executive Vice Chairman, Whole Time Director, and CEO of CMS Info Systems, remarked: “Q2’FY24 is our sixth consecutive quarter with 20%+ YoY earnings growth. Our H1 revenue growth of 14% underscores the growing opportunities in the Banking and Retail sectors. The focus of banks on physical infrastructure expansion and the evident growth in the organized retail segment post-COVID validate our consistent performance and quality execution.”

About CMS Info Systems Limited

CMS Info Systems Limited is an industry leader in business services, offering diverse logistics and technology solutions, particularly catering to banks, financial entities, organized retail, and e-commerce sectors in India. With a vast spectrum of services ranging from ATM management to AI-based remote monitoring, CMS stands as India’s dominant cash management enterprise, backed by its extensive ATM points and retail pick-up locations.