CMS Info Systems Limited (CMSINFO)
₹217.95 -0.03% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, CMS Info's revenue was ₹635 Cr (+1.2% year on year, +0.3% on the previous quarter), and net profit ₹83.7 Cr (-10.6% year on year); the operating margin was 26.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹635 | +1.2% | +0.3% |
| Operating profit | ₹169 | +6.9% | +4.7% |
| Net profit | ₹83.7 | -10.6% | +5.8% |
| EPS (₹) | 5.10 | -10.4% | +6.0% |
| Operating margin | 26.6% | — | — |
CMSINFO delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 59.22% of the CMSINFO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 56.07%. That is close to its usual level. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 54.9% · 60.3% · 56.6% · 60.0% · 59.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
CMS Info Systems Limited announced that shareholders approved the appointment of Mr. William Poole VIII as an Independent Director at the 19th AGM on September 21, 2026. His 3-year term runs from August 10, 2026, to August 9, 2029, and he is not liable to retire by rotation. Mr. Poole brings extensive global technology experience, having previously managed Microsoft's $13 billion Windows client business and currently co-managing over $200 million in assets at Capria Ventures. The addition strengthens the board's technology and AI governance as CMS continues expanding high-margin Managed Services and Technology Solutions.
- Shareholder approval granted on September 21, 2026, for a 3-year term ending August 9, 2029
- Appointed director previously led Microsoft's USD 13 billion Windows client business
- Currently serves as Co-Founder and Managing Partner at Capria Ventures, managing over USD 200 million in assets
- The appointment is non-rotational and carries no relationship with existing directors or KMPs
CMS Info Systems announced the completion of its 19th Annual General Meeting held on September 21, 2026. All resolutions were approved with requisite majority, including the adoption of FY26 audited accounts, dividend approval, and director appointments. Institutional turnout was strong, with 88.75% of institutional shares voted on the accounts resolution and 100% in favour. The company operates with 0.0% promoter holding, making public shareholder participation key to governance.
- All resolutions passed at the 19th AGM held on September 21, 2026 via video conferencing
- Total shareholder count stood at 163,420 as of the cut-off date September 14, 2026
- 89,932,108 total votes polled (56.19% of outstanding shares) on Resolution 1, with 99.9978% voted in favour
- Institutional voting participation reached 88.75% (78,649,136 votes) on Resolution 1 with 100% support
CMS Info Systems Limited held its 19th Annual General Meeting on September 21, 2026, attended by 51 shareholders holding 10,839,618 shares. The key items placed for shareholder approval via e-voting included the adoption of FY26 financial statements and approval of a final dividend of ₹2.50 per share, supplementing the earlier interim dividend of ₹2.75 per share. Other ordinary and special business items included the appointment of Mr. William Poole as Independent Director and approvals for borrowing limits under Section 180(1)(c). Consolidated voting results are scheduled to be submitted within two working days.
- AGM attended by 51 shareholders representing 10,839,618 equity shares
- Approval sought for final dividend of ₹2.50 per share, alongside confirmation of ₹2.75 interim dividend for FY26
- Proposed appointment of Mr. William Poole as Independent Director for a 3-year term
- Special resolutions presented for borrowing limits and asset charge creation under Section 180 of Companies Act
- Consolidated e-voting results to be declared within 2 working days
CMS Info Systems Limited has notified the exchanges that its authorized representatives will participate in 'The Anand Rathi Annual Flagship Conference G-200 Summit 2026' on Tuesday, September 22, 2026. The meetings will be held in-person at Taj Santacruz from 10:00 AM to 05:00 PM. The company noted that all interactions will adhere to publicly available information without discussing any Unpublished Price Sensitive Information (UPSI).
- Participation scheduled for Tuesday, September 22, 2026
- Meeting window set between 10:00 AM and 05:00 PM
- In-person conference mode located at Taj Santacruz
- Interactions strictly restricted to publicly available information (no UPSI)
CMS Info Systems has scheduled its 19th Annual General Meeting for September 21, 2026, and fixed September 14, 2026, as the record date for final dividend entitlement and voting. The company has proposed a final dividend of ₹2.50 per equity share for FY26, subject to shareholder approval at the AGM. This follows an interim dividend of ₹2.75 per share, taking total FY26 dividend payout to ₹5.25 per share. Shareholders will also vote on regularizing the appointment of Mr. William Poole as Independent Director.
- Record date / cut-off date fixed as September 14, 2026 for final dividend and AGM voting eligibility
- Final dividend of ₹2.50 per fully paid-up equity share proposed for FY26
- Total FY26 dividend reaches ₹5.25 per share, including the ₹2.75 interim dividend already paid
- 19th Annual General Meeting scheduled for Monday, September 21, 2026, at 3:30 PM IST
CMS Info Systems Limited has issued the notice for its 19th Annual General Meeting (AGM) scheduled for Monday, September 21, 2026, via Video Conferencing. The Board has established September 14, 2026, as the cut-off date for determining voting rights and entitlement to a final dividend of ₹2.50 per share (in addition to ₹2.75 interim dividend already paid). Special business agendas include the appointment of Mr. William Poole as Independent Director for a 3-year term and approvals under Section 180(1)(c) for borrowing limits up to paid-up capital and free reserves.
- 19th AGM convened for Monday, September 21, 2026 at 3:30 PM IST via VC/OAVM
- Cut-off date for dividend entitlement and voting fixed as Monday, September 14, 2026
- Final dividend of ₹2.50 per equity share proposed for approval, following ₹2.75 interim dividend
- Appointment of Mr. William Poole as Non-Executive Independent Director for 3 years (Aug 10, 2026 to Aug 9, 2029)
- Borrowing limit resolution proposed up to aggregate Paid-up Capital, Free Reserves, and Securities Premium
CMS Info Systems Limited has informed the exchanges that its authorised representatives will participate in the 'Ashwamedh – Elara India Dialogue 2026' investor conference organized by Elara Capital. The event is scheduled to take place in-person on Wednesday, September 2, 2026, at Grand Hyatt, Santacruz East, Mumbai. The company noted that discussions will be limited to information already available in the public domain. This is a standard institutional interaction intimation with no direct financial impact.
- Participation in 'Ashwamedh – Elara India Dialogue 2026' organized by Elara Capital
- Scheduled date: Wednesday, September 2, 2026
- Mode and location: In-person at Grand Hyatt, Santacruz East, Mumbai (Pincode: 400055)
- Discussions to be restricted to publicly available information
CMS Info Systems reported a record services revenue of Rs 625 Cr for Q1 FY27, up 9.3% YoY, despite missing internal targets by Rs 25 Cr due to a severe currency supply squeeze. The company has lowered its FY27 services revenue guidance to Rs 2,650–2,750 Cr but raised its EBITDA margin guidance to 27% from 25-26% due to productivity gains. A significant order win of Rs 500 Cr was recorded in Q1, including a Rs 400 Cr contract from HDFC Bank. Management expects currency supply to normalize by the end of Q2 FY27.
- Q1 services revenue reached an all-time high of Rs 625 Cr, representing 9.3% YoY growth.
- Secured Rs 500 Cr in new orders during Q1, including a major Rs 400 Cr TCV contract from HDFC Bank for 6,000 ATMs.
- Currency supply squeeze by banks (fulfilling only 70% of demand) resulted in a Rs 25 Cr revenue shortfall in Q1.
- EBITDA margin guidance raised to 27% despite facing minimum wage hikes ranging from 6% to 60% in key states.
- Maintained dominant market share of 60% in ATM cash management and 38% in retail solutions.
CMS Info Systems has published the audio recording of its investor conference call held on August 11, 2026, following its Q1FY27 earnings declaration. The call addressed the company's business strategy and outlook, providing context to its TTM revenue of Rs 2,487 Cr and OPM of 21.7%. This disclosure is a standard regulatory requirement under SEBI LODR, allowing retail investors access to the same management commentary provided to institutional analysts.
- Conference call conducted on August 11, 2026, at 02:00 P.M. IST
- Discussion covered Q1FY27 earnings and future business strategy
- Company maintains a leading 42% market share in the cash management business
- Management targets a 20%+ ROCE and 18-20% ROE through high-margin Managed Services
- Managed Services and Tech solutions currently contribute 32.4% of revenue
CMS Info Systems reported a resilient Q1FY27 with record services revenue of Rs 625 Cr, up 9% YoY, despite a Rs 25 Cr hit from industry-wide currency supply disruptions. EBITDA margins expanded significantly to 27.2%, up 170 bps sequentially, driven by a shift toward high-margin managed services. A major 5-year, Rs 400 Cr contract with HDFC Bank for 6,000 ATMs is now live, representing approximately 16% of TTM revenue. The company has sharply reduced its FY27 capex guidance to Rs 100-125 Cr while maintaining an ambitious FY30 revenue goal of ~Rs 3,850 Cr.
- Services revenue reached a record Rs 625 Cr, growing 9% YoY despite a Rs 25 Cr negative impact from cash supply issues
- EBITDA margins expanded to 27.2%, a 170 bps sequential increase from Q4FY26
- Commenced a Rs 400 Cr TCV managed services contract with HDFC Bank covering 6,000 ATMs for 5 years
- FY27 Capex guidance reduced to Rs 100-125 Cr, down from Rs 351 Cr in FY26
- Product revenue hit a cyclical trough of Rs 10 Cr compared to Rs 56 Cr in the previous year
CMS Info Systems reported its highest-ever quarterly services revenue of ₹625 Cr in Q1FY27, up 9% YoY, despite a ₹25 Cr impact from bank currency supply disruptions. EBITDA margins expanded significantly to 27.2%, up 170 bps sequentially, driven by a shift toward high-margin Managed Services. While PAT grew 5.8% QoQ to ₹84 Cr, it declined 10.6% YoY due to higher depreciation and wage inflation. The company successfully went live with a ₹400 Cr, 5-year managed services contract for HDFC Bank covering 6,000 ATMs.
- Services revenue reached a record ₹625 Cr, representing a 9% YoY and 3% QoQ growth.
- EBITDA margins improved to 27.2%, a 170 bps sequential and 190 bps YoY expansion.
- Commenced a ₹400 Cr TCV managed services contract with HDFC Bank for 6,000 ATMs over 5 years.
- Tech and Payments solutions now contribute 16% of services revenue, up from 7% in FY22.
- Management set a FY30 revenue aspiration of ₹3,750–3,950 Cr, targeting a shift in platform mix.
CMS Info Systems reported a mixed Q1 FY27 with total revenue of ₹635 Cr, up 1.2% YoY, while PAT declined 10.6% YoY to ₹84 Cr due to higher depreciation and currency-supply disruptions. However, the company achieved its highest-ever quarterly services revenue of ₹625 Cr and secured ~₹500 Cr in new orders, representing approximately 20% of TTM revenue. EBITDA margins improved significantly to 27.2%, up 170 bps sequentially, despite cost inflation from wage hikes and fuel.
- Highest-ever quarterly services revenue of ₹625 Cr, growing 9.3% YoY and 2.6% QoQ
- New order wins totaling ~₹500 Cr, including a major integrated mandate from HDFC Bank
- EBITDA margin expanded to 27.2%, a 170 bps sequential increase from Q4 FY26
- Managed Services & Technology Solutions revenue grew 18% YoY to ₹305 Cr
- PAT stood at ₹84 Cr, reflecting a 10.6% YoY decline but a 5.8% QoQ recovery
CMS Info Systems reported a resilient Q1 FY27 with record services revenue of ₹625 Cr, up 9.3% YoY, despite currency supply disruptions impacting ATM volumes. While PAT fell 10.6% YoY to ₹84 Cr due to wage inflation and higher depreciation, it grew 5.8% sequentially. The company secured ~₹500 Cr in new orders, equivalent to ~20% of its TTM revenue, highlighted by a major HDFC Bank mandate. EBITDA margins showed strength, expanding 170 bps sequentially to 27.2% through pricing discipline and growth in high-margin Managed Services.
- New order wins of ~₹500 Cr in Q1, including a large integrated managed services mandate from HDFC Bank.
- Highest-ever quarterly services revenue of ₹625 Cr, representing 98% of total revenue.
- EBITDA margin expanded to 27.2%, up 170 bps sequentially despite absorbing minimum-wage hikes.
- Completed a share buyback of 4,939,126 equity shares at ₹340 per share, totaling ₹169.98 Cr.
- Managed Services & Technology Solutions segment revenue grew 18% YoY to ₹305 Cr.
CMS Info Systems has appointed Will Poole, a former Microsoft Corporate VP and co-founder of Capria Ventures, as an Additional Director (Independent). Poole previously managed Microsoft's $13 billion Windows desktop business and currently serves as a global AI investor. This appointment is strategically aligned with CMS's goal to accelerate its Technology & Payment Solutions segment, which currently accounts for 32.4% of revenue, and its focus on Vision AI and automation.
- Appointed Will Poole, former Microsoft Corporate VP who managed the $13 billion Windows desktop business.
- Poole is the co-founder of Capria Ventures and a specialist in AI investing, supporting CMS's 'Vision AI' initiatives.
- CMS aims to scale its high-margin Managed Services and Tech Solutions to achieve 18-20% growth targets.
- The company currently holds a 42% market share in the Indian cash management business.
CMS Info Systems has appointed Mr. William Poole VIII as an Additional Independent Director for a three-year term effective August 10, 2026. Mr. Poole is a technology veteran who previously led Microsoft's $13 billion Windows client business and currently manages over $200 million in assets at Capria Ventures. This appointment is strategically significant as the company aims to scale its AI-driven workflows and high-margin Managed Services, which currently account for 32.4% of revenue.
- Appointment of Mr. William Poole VIII as Independent Director for a 3-year term starting August 10, 2026.
- Appointee previously managed a $13 billion business line as Corporate Vice President at Microsoft.
- Mr. Poole currently oversees more than $200 million in assets as Managing Partner of Capria Ventures.
- The appointment aligns with CMS's strategy to scale its Technology Solutions and Managed Services (32.4% of revenue).
- CMS maintains a 42% market share in cash management and targets 18-20% growth through tech-led platforms.
Financial Performance
Revenue Growth by Segment
Managed Services revenue contribution grew to 32.4% in 9M FY23 from 17.2% in FY19. H1 FY26 service revenue grew 5% YoY, while the service component of Managed Services & Tech grew 18% YoY. Overall revenue grew 18.3% in FY24, though H1 FY26 saw a slower growth of 1% YoY to INR 1,236 Cr.
Geographic Revenue Split
Pan-India presence with a network of 1,46,000 business points as of December 2024; specific regional percentage split is not disclosed in available documents.
Profitability Margins
Operating margins were 27.8% in 9M FY23 and 28.2% in FY23. Q2 FY26 PAT margin stood at 12.06%, a decline of 250 bps YoY from 14.56% in Q2 FY25, primarily due to a temporary dip in ATM logistics volume and higher wage costs.
EBITDA Margin
EBITDA margin was 22.58% in Q2 FY26, down 190 bps from 24.48% in Q2 FY25. Core profitability is supported by increasing operating leverage and network density, though impacted by a changing business mix.
Capital Expenditure
FY25 capital expenditure was INR 154 Cr, significantly lower than the initial guidance of INR 300 Cr due to strict control measures. Capex is primarily directed toward RBI compliance and technology solutions.
Credit Rating & Borrowing
ICRA has assigned a Stable outlook; the company maintains a net debt-free status (excluding lease liabilities) with a net worth of INR 1,397.5 Cr as of September 2022. Borrowing costs are minimal due to the debt-free structure.
Operational Drivers
Raw Materials
Employee wages and network costs (primary drivers, specific % not disclosed); Hardware for ATM/Tech (approx. 7-10% of revenue).
Capacity Expansion
Current capacity includes 1,46,000 business points as of December 2024, up from 1,33,000 in December 2023. Planned expansion is driven by scaling gig operations for retail and capturing increased ATM outsourcing from private banks.
Raw Material Costs
Wages and network costs are the primary drivers; wages are subject to long-term settlements every 3-4 years, which recently impacted H1 FY26 margins.
Manufacturing Efficiency
Efficiency is driven by network density and operating leverage; the company is extensively leveraging AI agents, bots, and machine learning for route optimization to deliver cost savings.
Logistics & Distribution
Network costs are a primary expense; the company is using machine learning to design routes and tips across the network to improve distribution efficiency.
Strategic Growth
Expected Growth Rate
18-20%
Growth Strategy
Growth will be achieved by scaling three core platforms: ATM Cash, Retail Solutions, and Tech Solutions. The company targets a 20%+ ROCE and 18-20% ROE by focusing on high-margin Managed Services (32.4% of revenue) and Technology solutions (target 10% of revenue). Cost optimization is being pursued through AI agents and machine learning for route optimization to offset wage inflation.
Products & Services
ATM cash logistics, retail cash management, remote monitoring, technology solutions, and software solutions.
Brand Portfolio
CMS Info Systems, SIPL (subsidiary).
New Products/Services
AI agents and bots for automated workflows, machine learning for route design, and premium delivery models for high-value customers.
Market Expansion
Scaling gig operations for the retail sector and expanding managed services to capture private bank branch growth across India.
Market Share & Ranking
42% market share in the cash management business, maintaining a leading player position.
External Factors
Industry Trends
The industry is growing through increased outsourcing by banks and branch expansion. RBI's stringent operating requirements are expected to lead to a 40% increase in rate realizations for compliant players. The company is positioning itself by shifting from pure cash management to a technology-led managed services model.
Competitive Landscape
Leading player with 42% market share; competitors include other cash management and managed service providers in the BFSI and retail segments.
Competitive Moat
CMS maintains a 42% market share and a network of 1,46,000 business points, creating significant network density and cost leadership. This moat is sustainable because the high cost of RBI compliance and the scale required for pan-India logistics create high entry barriers.
Macro Economic Sensitivity
Sensitive to banking sector outsourcing trends, ATM penetration in India, and retail sector growth.
Consumer Behavior
Shift toward bank outsourcing and demand for technology-integrated cash solutions in the retail sector.
Geopolitical Risks
Low impact due to a primary focus on domestic Indian operations.
Regulatory & Governance
Industry Regulations
RBI guidelines for cash management operations, including security and vehicle standards, which require ongoing compliance capex and drive industry consolidation.
Taxation Policy Impact
Effective tax rate was approximately 23.2% in Q2 FY26 (INR 22.2 Cr tax on INR 95.6 Cr PBT).
Risk Analysis
Key Uncertainties
Operational risks like armed robbery or fraud (potential impact not quantified), and potential revenue decline if cash usage drops significantly due to digital payment shifts.
Geographic Concentration Risk
Pan-India presence with 1,46,000 business points; no single region is highlighted as a concentration risk.
Third Party Dependencies
Reliance on third-party service providers for personnel, exposing the company to embezzlement or theft risks.
Technology Obsolescence Risk
Risk of digital payments reducing cash logistics demand; mitigated by expanding into technology-led managed services and remote monitoring.
Credit & Counterparty Risk
Strong credit quality with major banks like SBI as primary customers, ensuring high receivables quality.
