CMS Info Systems (CMSINFO) Q4 21/22 earnings summary

Executive summary

• FY22 consolidated revenue rose 22% YoY to ₹15,896.71 million; EBITDA increased 33% to ₹4,017.24 million and PAT rose 33% to ₹2,240.38 million.

• Growth reflected stronger volumes and margins in Cash Management and Managed Services, supported by network density, automation, and value-added services.

• Currency handled reached ₹11.2 lakh crore, up 22% YoY; cash and cash equivalents, including mutual fund investments, stood at ₹2,780 million.

Financial highlights

• Consolidated revenue from operations was ₹15,896.71 million versus ₹13,060.90 million in FY21; PBT was ₹3,014.45 million versus ₹2,377.50 million.

• EBITDA was ₹4,017.24 million, up 33% YoY; EBITDA margin improved 210 bps to 25.3% from 23.2%.

• PAT was ₹2,240.38 million, up 33% YoY; PAT margin expanded 120 bps to 14.1% from 12.9%.

• Consolidated basic EPS was ₹15.07 versus ₹11.39; diluted EPS was ₹14.33 versus ₹11.09.

• Net cash flow from operations was ₹2,565.12 million, compared with ₹1,854.42 million in FY21.

Outlook and guidance

• FY25 revenue aspiration: ₹2,600 crore from a FY21 base of ₹1,308 crore, targeting 18% CAGR; expected mix 60% Cash Management, 30% Managed Services, and 10% AIoT and Software.

• FY25–FY30 aspiration is to double revenue to ₹5,200 crore through BFSI, Retail, and Logistics offerings, including incubation and M&A.

• A pipeline of 30,000+ ATMs and cash recyclers was expected over the next 12 months; addressable market opportunity cited at ₹25,000 crore over five years.

• FY23 annual revenue run rate target for the remote-monitoring business was ₹100 crore, backed by a ₹600 crore order book.