• Sales of Cash management services segment has gone up 10.71% to Rs 388.19 crore (accounting for 59.46% of total sales).  Sales of Managed services segment has gone up 55.25% to Rs 237.39 crore (accounting for 36.36% of total sales).  Sales of Cards segment rose 61.88% to Rs 27.31 crore (accounting for 4.18% of total sales).  Inter-segment sales rose Rs 18.98 crore to Rs 25.80 crore.  
• Profit before interest, tax and other unallocable items (PBIT) has jumped 14.34% to Rs 141.79 crore.  PBIT of Cash management services segment rose 5.39% to Rs 98.40 crore (accounting for 69.39% of total PBIT).  PBIT of Managed services segment rose 33.21% to Rs 38.01 crore (accounting for 26.81% of total PBIT).  PBIT of Cards segment rose 154.63% to Rs 5.39 crore (accounting for 3.80% of total PBIT).  
• PBIT margin of Cash management services segment fell from 26.63% to 25.35%.  PBIT margin of Managed services segment fell from 18.66% to 16.01%.  PBIT margin of Cards segment rose from 12.55% to 19.73%.  Overall PBIT margin fell from 23.83% to 21.72%.  

 Full year results analysis.

Net sales (including other operating income) of CMS Info Systems has increased 18.28% to Rs 2264.68 crore.  Sales of Cash management services segment has gone up 11.17% to Rs 1,474.42 crore (accounting for 62.47% of total sales).  Sales of Managed services segment has gone up 30.30% to Rs 796.30 crore (accounting for 33.74% of total sales).  Sales of Cards segment rose 90.42% to Rs 89.35 crore (accounting for 3.79% of total sales).  Inter-segment sales rose Rs 69.60 crore to Rs 95.39 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 17.77% to Rs 542.50 crore.  PBIT of Cash management services segment rose 14.51% to Rs 385.10 crore (accounting for 70.99% of total PBIT).  PBIT of Managed services segment rose 19.33% to Rs 144.52 crore (accounting for 26.64% of total PBIT).  PBIT of Cards segment rose 298.24% to Rs 12.89 crore (accounting for 2.38% of total PBIT).  

PBIT margin of Cash management services segment rose from 25.36% to 26.12%.  PBIT margin of Managed services segment fell from 19.82% to 18.15%.  PBIT margin of Cards segment rose from 6.90% to 14.42%.  Overall PBIT margin fell from 23.21% to 22.99%.  

Operating profit margin has declined from 28.08% to 26.47%, leading to 11.48% rise in operating profit to Rs 599.47 crore.  Purchase of finished goods cost rose from 5.92% to 10.84%.   Employee cost increased from 13.86% to 14.31%.   Other expenses fell from 52.09% to 49.03%.   Selling and administration expenses fell from 28.25% to 26.43%.   

Other income rose 131.11% to Rs 34.02 crore.  PBIDT rose 14.67% to Rs 633.49 crore.  Provision for interest fell 17.38% to Rs 16.21 crore.    PBDT rose 15.85% to Rs 617.28 crore.  Provision for depreciation rose 13.96% to Rs 150.22 crore.  Profit before tax grew 16.47% to Rs 467.06 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 119.92 crore, compared to Rs 103.78 crore.  Effective tax rate was 25.68% compared to 25.88%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 16.79% to Rs 347.14 crore.  

Management Comments :

Commenting on the performance of the Company, Mr. Rajiv Kaul – Executive Vice Chairman, Whole Time Director and CEO, CMS Info Systems said, “This is our eighth consecutive quarter with 20%+ YoY earnings growth. Our Managed Services & Technology Solutions business segment now contributes 39% of our overall revenues. We are seeing strong growth in our Retail, AIoT Remote Monitoring Solution and Managed Services segments. We are reasonably confident of meeting the upper end of our FY25 revenue guidance of INR 2500- 2700 Cr.”  

Others

Equity capital increased from Rs 154.40 crore as of 31 March 2023 to Rs 162.76 crore as of 31 March 2024.  Per share face Value remained same at Rs 10.00.  

Loan funds declined from Rs 203.34 crore as of 31 March 2023 to Rs 180.86 crore as of 31 March 2024.  Inventories rose to Rs 126.86 crore as of 31 March 2024 from Rs 74.17 crore as of 31 March 2023.  Sundry debtors were higher at Rs 719.71 crore as of 31 March 2024 compared to Rs 526.00 crore as of 31 March 2023.  Cash and bank balance rose to Rs 267.01 crore as of 31 March 2024 from Rs 156.25 crore as of 31 March 2023.  Investments rose to Rs 485.14 crore as of 31 March 2024 from Rs 279.24 crore as of 31 March 2023 . Fixed assets declined from Rs 683.59 crore as of 31 March 2023 to Rs 647.93 crore as of 31 March 2024.  Intangible assets stood at Rs 206.08 crore.  

Cash flow from operating activities increased to Rs 439.89 crore for year ended March 2024 from Rs 406.76 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 108.38 crore, compared to Rs 193.32 crore during the year ended March 2023.