India · Delayed Price · Currency is INR CMS Info Systems Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw modest revenue growth amid significant headwinds, but strong Q4 recovery and major contract wins position the business for 13–21% revenue growth in FY 2027. Margin expansion, technology investments, and a shift to fixed fee models underpin the outlook.
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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 16% in H1 FY25, with strong momentum despite macro headwinds. Managed services and technology saw 28% YoY growth, while cash logistics rose 8% YoY. Order execution delays impacted margins, but H2 is expected to be stronger as projects go live and festive demand picks up.
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Q1 FY25 saw 17% revenue and 13% adjusted PAT growth, with strong managed services and tech momentum. FY25 revenue guidance of INR 2,600–2,800 crore is maintained, and CapEx is set at INR 300 crore to support growth and tech investments.