27, Oct 2023
CMS Info Systems reports 25 Percent PAT & 15 Percent Revenue YoY growth in Q2’FY24

Mumbai, 27th October 2023: CMS Info Systems Limited, India’s leading business services company offering banking logistics and technology services, announces its results for Q2-FY2024.

Q2-FY2024 Consolidated Financial Performance:



INR 544 Crore

YoY Growth: 15%



INR 157 Crore

YoY Growth: 15%

Adj. PAT*


INR 92 Crore

YoY Growth: 25%


Adj. PAT Margin*



YoY Growth: 130 BPS


Q2-FY2024 Segmental Performance:


Cash Logistics Business:                                                   Managed Services & Technology Solution Business#:



INR 361 Crore

YoY Growth: 11%




INR 95 Crore

YoY Growth: 18%



INR 206 Crore

YoY Growth: 26%



INR 39 Crore

YoY Growth: 23%


#Including Cards Services.

Q2-FY2024 Operational Highlights:

  • New business wins of INR 500 crore in the quarter, H1’FY24 new business wins now at INR 650 crore in Managed Services
  • Business points for Cash Logistics at 129,000, up 12% YoY
  • Phase 1 of cassette swap roll-out on ~15% ATMs successfully completed

Commenting on the performance of the Company, Mr. Rajiv Kaul – Executive Vice Chairman, Whole Time Director, and CEO said, “Q2’FY24 is our sixth consecutive quarter with 20%+ YoY earnings growth. Our H1 revenue growth of 14% highlights the growth opportunity in the Banking and Retail sectors. Banks are focusing on expansion and refresh of their physical infrastructure, and we are seeing the organized retail category growing well post-COVID. Our consistent performance is testimony to our strong quality and execution of our order book.”

*Adjusted for share-based payment to employees. Calculation of Adj. PAT below.

INR Cr. Q2’FY24 Q1’FY24 Q2’FY23
Reported PAT 84.4 84.3 72.5
Add : Non-cash ESOP Expenses

(Net of Tax)

7.9 2.5 1.6
Adj. PAT 92.3 86.8 74.1


Results for the quarter ending September 30, 2023, prepared under Ind AS, along with segment results, are available in the Investor Relations section of our website www.cms.com.

Quarterly Conference Call:

The earnings conference call will be held on Thursday, October 26, 2023, at 12:00 noon (IST) to discuss the Financial Results and performance of the Company for the quarter and half-year ended September 30, 2023. The earnings conference call will be accessible from all networks and countries through universal access dial-ins +91 22 6280 1342 / +91 22 7115 8243 also accessible here. Further, the analyst(s)/institutional investor(s) presentation will be submitted to Stock Exchanges and hosted on the Company’s website at www.cms.com.

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