CMS Info Systems (CMSINFO) Q3 25/26 earnings summary

Executive summary

• Achieved key operating goals in FY22–24, including revenue growth, margin expansion, and market share gains, with Q3 FY26 services revenue at ₹577 Cr, up 4% QoQ, and major contract wins such as a ₹1,000 Cr SBI deal.

• Restructured into three platforms: ATM management, retail & currency logistics, and tech & payment solutions, each with strong market positions.

• Retail cash volumes rebounded post-GST rate reduction, with significant increases across retail segments and positive momentum entering CY26.

• Approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, with interim dividend of ₹2.75 per share declared.

• Major long-term order wins (SBI, ICICI, India Post) and new tech solutions position the business for strong sequential gains.

Financial highlights

• Q3 FY26 consolidated revenue at ₹6,182 million (₹618 crore), up 2% QoQ; services revenue up 4% QoQ; business EBITDA at ₹1,580 million (₹158 crore), up 9% QoQ with margin at 25.5%.

• Managed services and technology revenue up 18% QoQ to ₹254 crore; Card Management Solutions revenue up 37% QoQ.

• Q3 FY26 PBT before exceptional items was ₹880 million, down 8% QoQ due to prior quarter one-off benefits; PAT after exceptional items at ₹574 million, including a one-time labor code provision.

• For nine months ended Dec 31, 2025: revenue ₹18,542 million, net profit ₹2,243 million.

• Standalone Q3 FY26 revenue: ₹5,601 million; net profit: ₹559 million.

Outlook and guidance

• FY27 revenue guidance: ₹28,000–29,000 million, with services revenue at ₹27,000–28,000 million; EBITDA margin expected to improve to 25–26%.

• ATM Management Solutions projected 11% CAGR to FY30; Retail & Currency Logistics and Technology & Payment Solutions forecast 11% and 20%+ CAGR respectively to FY30.

• Q4 expected to be strong, with key deals under negotiation and a services run rate target of ₹6,500 million per quarter.

• Targeting 'Rule of 35' (revenue growth + EBITDA margin >35%) by FY30.