India · Delayed Price · Currency is INR CMS Info Systems Earnings Call Transcripts
Fiscal Year 2026
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Q3 saw modest revenue growth but improved quality, with EBITDA margin expansion and strong order wins. FY27 guidance targets INR 2,800–2,900 crore revenue and 25–26% EBITDA margin, supported by segment recovery, tech growth, and active M&A.
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Q2 FY2026 saw a 3% sequential revenue decline due to lower ATM volumes and network utilization, but managed services and tech grew 5%. H2 is expected to recover with new contracts, margin improvements, and strong growth in the Hawkai platform and retail business.
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Q1 FY26 saw 5% revenue and 3% PAT growth despite industry headwinds, with strong order wins and a strategic acquisition of Securens Systems. Margins were pressured by wage hikes and lower ATM transactions, but management expects normalization as the year progresses.
Fiscal Year 2025
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FY 2025 saw modest 7% revenue growth amid industry disruptions, but margins and cash flow remained strong. Order execution improved to 52%, with robust order wins and a growing recurring revenue base. Outlook is positive, with double-digit CAGR guidance and strong CapEx plans.
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Revenue and PAT grew 10% and 7% respectively for the nine months, with strong cash logistics and retail performance. Order execution delays impacted FY25 revenue, but 60% order book execution is targeted by Q4, setting up for 15%+ services growth in FY26.
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Revenue grew 15% in Q2, led by managed services, but order execution delays and macro headwinds impacted margins. FY25 revenue guidance is maintained, with H2 expected to benefit from improved execution and a strong order book. Cash logistics and managed services remain key growth drivers.
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Q1 FY25 saw 17% revenue and 13% adjusted PAT growth, with strong managed services and tech momentum. CapEx for FY25 is guided at INR 300 crore, and the company remains confident in meeting its 15–19% annual growth target.