CMS Info Systems (CMSINFO) Q3 24/25 earnings summary

Executive summary

• Achieved 10.3% revenue growth and 7.5% PAT growth for 9M FY25, with steady performance and margin expansion despite external challenges and a year of consolidation after strong growth from FY21–FY24.

• Gained 150 bps market share in cash logistics, with revenue share rising to 42% and record cash volumes handled in Q3.

• Focused on recurring revenue, tech investments, and retail sector expansion, driving business momentum and strategic M&A.

• Maintained strong margins and robust cash generation, with a debt-free balance sheet and increased dividend payouts.

• Board approved declassification of Sion Investment Holdings Pte. Ltd. as promoter, subject to regulatory approvals.

Financial highlights

• Q3 FY25 revenue was INR 581.5 crore (₹5,815 Mn), flat year-on-year; 9M FY25 revenue at INR 1,805 crore (₹18,055 Mn), up 10.3% YoY.

• PAT for 9M FY25 grew 7.5% to INR 275 crore (₹2,749 Mn); Q3 PAT was INR 93 crore, up 7% YoY.

• Q3 FY25 EBITDA margin rose to 27.41%, with PAT margin at 16%.

• Interim dividend of INR 3.25 per share declared for FY25.

• Company remains debt-free with over ₹7,500 Mn in cash and equivalents as of Sep'24.

Outlook and guidance

• FY25 revenue expected to be slightly below initial guidance due to order execution delays, consumption slowdown, and contract deferrals.

• Targeting 60% order book execution by Q4 FY25, setting up for 15%+ services revenue growth in FY26.

• Medium-term services revenue CAGR projected at 13–17%, with cash logistics at 10–13% and managed services & tech at 15%+.

• FY25 capex estimated at ₹1,500–2,000 Mn, below initial guidance.