CMS Info Systems (CMSINFO) Q1 24/25 earnings summary

Executive summary

• Achieved 17% year-over-year revenue growth in Q1 FY25, reaching INR 5,994 million, with adjusted PAT up 13% and strong margins despite seasonality and election-related impacts.

• Adjusted EBITDA increased 8% year-over-year to INR 1,640 million, with margins at 27.3%.

• Added 3,000 new touchpoints in cash logistics, reaching a total of 140,000 points (+11% YoY).

• Secured robust order wins of INR 2,000 million in managed services and tech business, including a major AIoT RMS project at a leading bank.

• Maintained a 17% revenue CAGR from FY09 to FY24.

Financial highlights

• Q1 FY25 consolidated revenue: INR 5,994 million, up 17% year-over-year.

• Adjusted PAT for Q1 FY25: INR 990 million, up 13% YoY; adjusted PAT margin at 16.4%.

• Adjusted EBITDA margin was 27.3% for Q1 FY25.

• Cash logistics revenue up 10% YoY to INR 3,870 million; EBIT up 5% to INR 990 million.

• Managed services and tech solutions revenue up 31% YoY to INR 2,390 million; EBIT up 20% to INR 410 million.

Outlook and guidance

• FY25 revenue guidance maintained at INR 26,000–28,000 million, implying 15–19% annual growth.

• Managed Services & Technology Solutions business is on track to surpass INR 10,000 million in FY25.

• Expect improvement in consumption trends in Q2 and Q3, driven by festive season.

• Majority of order book from FY24 expected to go live in the next two quarters.

• FY27 total addressable market projected at INR 22,000 crore, with strong expansion in BFSI and retail.