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Consolidated net sales (including other operating income) of CMS Info Systems for the quarter ended Dec 2023 has increased 19.25% to Rs 582.3 crore. Sales of Cash management services segment has gone up 10.85% to Rs 374.99 crore (accounting for 61.72% of total sales). Sales of Managed services segment has gone up 35.88% to Rs 212.59 crore (accounting for 34.99% of total sales). Sales of Cards segment rose 61.65% to Rs 19.97 crore (accounting for 3.29% of total sales). Inter-segment sales rose Rs 18.79 crore to Rs 25.25 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 17.65% to Rs 138.64 crore. PBIT of Cash management services segment rose 14.24% to Rs 97.58 crore (accounting for 70.38% of total PBIT). PBIT of Managed services segment rose 19.89% to Rs 37.59 crore (accounting for 27.11% of total PBIT). PBIT of Cards segment rose 221.57% to Rs 3.47 crore (accounting for 2.51% of total PBIT). PBIT margin of Cash management services segment rose from 25.25% to 26.02%. PBIT margin of Managed services segment fell from 20.04% to 17.68%. PBIT margin of Cards segment rose from 8.74% to 17.39%. Overall PBIT margin fell from 23.24% to 22.82%. Operating profit margin has declined from 27.74% to 25.90%, leading to 11.31% rise in operating profit to Rs 150.80 crore. Purchase of finished goods cost rose from 5.63% to 11.79%. Employee cost increased from 14.19% to 14.33%. Other expenses fell from 52.50% to 48.79%. Selling and administration expenses fell from 27.26% to 26.75%. Other income rose 63.81% to Rs 7.83 crore. PBIDT rose 13.10% to Rs 158.63 crore. Provision for interest fell 14.97% to Rs 3.92 crore. PBDT rose 14.05% to Rs 154.71 crore. Provision for depreciation rose 16.38% to Rs 37.73 crore. Profit before tax grew 13.32% to Rs 116.98 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 29.9 crore, compared to Rs 27.45 crore. Effective tax rate was 25.56% compared to 26.59%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 14.91% to Rs 87.08 crore. For year-to-date (YTD) results analysis.
Consolidated net sales (including other operating income) of CMS Info Systems for 9mFY24 has increased 15.87% to Rs 1637.6 crore. Sales of Cash management services segment has gone up 11.34% to Rs 1,086.23 crore (accounting for 63.63% of total sales). Sales of Managed services segment has gone up 21.97% to Rs 558.91 crore (accounting for 32.74% of total sales). Sales of Cards segment rose 106.43% to Rs 62.05 crore (accounting for 3.63% of total sales). Inter-segment sales rose Rs 50.63 crore to Rs 69.59 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 19.03% to Rs 400.71 crore. PBIT of Cash management services segment rose 18.01% to Rs 286.70 crore (accounting for 71.55% of total PBIT). PBIT of Managed services segment rose 15.05% to Rs 106.51 crore (accounting for 26.58% of total PBIT). PBIT of Cards segment rose 569.64% to Rs 7.50 crore (accounting for 1.87% of total PBIT). PBIT margin of Cash management services segment rose from 24.90% to 26.39%. PBIT margin of Managed services segment fell from 20.20% to 19.06%. PBIT margin of Cards segment rose from 3.73% to 12.09%. Overall PBIT margin rose from 23.00% to 23.47%. Operating profit margin has declined from 27.85% to 27.12%, leading to 12.81% rise in operating profit to Rs 444.04 crore. Purchase of finished goods cost rose from 6.46% to 7.43%. Employee cost increased from 14.08% to 14.83%. Other expenses fell from 51.56% to 50.79%. Selling and administration expenses fell from 28.45% to 27.39%. Other income rose 127.14% to Rs 22.85 crore. PBIDT rose 15.66% to Rs 466.89 crore. Provision for interest fell 13.23% to Rs 12.2 crore. PBDT rose 16.70% to Rs 454.69 crore. Provision for depreciation rose 14.66% to Rs 110.49 crore. Profit before tax grew 17.37% to Rs 344.20 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 88.48 crore, compared to Rs 75.95 crore. Effective tax rate was 25.71% compared to 25.90%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 17.68% to Rs 255.72 crore. Management Comments :
Commenting on the performance of the Company, Mr. Rajiv Kaul – Executive Vice Chairman, Whole Time Director and CEO said, “We are happy with the strong growth in revenue and PAT, driven by growth across our platform. We are seeing the benefits from both increased formalization and refresh cycle in the banking sector. Our integrated platform is helping us execute large order book. We have also won new orders and our total order book has grown to INR 4,400 Cr. Our solutions and technology automation capabilities are helping us forge deeper enterprise relationships. Basis the execution and order book, we aim to grow between 17% - 19% in FY24 and have total revenues in the range of Rs. 2250-2300 Cr revenues for FY24.”
Other key developments New business wins of INR 600 crore in the quarter, YTD new business wins now at INR 1,250
crore in Managed Services & Technology Solution business Won mandate for ALGO AIoT Remote Monitoring Solution for 2,000 new sites Added 4,000 business points in cash logistics, 10% YoY growth Continue to strengthen our infrastructure, added 500 vans to our fleet (YTD) Promoters’ stake was 26.69% as of 31 December 2023 ,compared to 60.98% as of 31 December 2022 .
| CMS Info Systems : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 582.30 | 488.32 | 19.25 | 1,637.60 | 1,413.29 | 15.87 | 1,914.73 | 1,589.67 | 20.45 | | OPM (%) | 25.90 | 27.74 | -185 bps | 27.12 | 27.85 | -74 bps | 28.08 | 25.15 | 294 bps | | OP | 150.80 | 135.48 | 11.31 | 444.04 | 393.62 | 12.81 | 537.74 | 399.77 | 34.51 | | Other Inc. | 7.83 | 4.78 | 63.81 | 22.85 | 10.06 | 127.14 | 14.72 | 7.91 | 86.09 | | PBIDT | 158.63 | 140.26 | 13.10 | 466.89 | 403.68 | 15.66 | 552.46 | 407.68 | 35.51 | | Interest | 3.92 | 4.61 | -14.97 | 12.20 | 14.06 | -13.23 | 19.62 | 14.39 | 36.34 | | PBDT | 154.71 | 135.65 | 14.05 | 454.69 | 389.62 | 16.70 | 532.84 | 393.29 | 35.48 | | Depreciation | 37.73 | 32.42 | 16.38 | 110.49 | 96.36 | 14.66 | 131.82 | 91.84 | 43.53 | | PBT | 116.98 | 103.23 | 13.32 | 344.2 | 293.26 | 17.37 | 401.02 | 301.45 | 33.03 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 116.98 | 103.23 | 13.32 | 344.2 | 293.26 | 17.37 | 401.02 | 301.45 | 33.03 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 116.98 | 103.23 | 13.32 | 344.2 | 293.26 | 17.37 | 401.02 | 301.45 | 33.03 | | Taxation | 29.9 | 27.45 | 8.93 | 88.48 | 75.95 | 16.50 | 103.78 | 77.41 | 34.07 | | PAT | 87.08 | 75.78 | 14.91 | 255.72 | 217.31 | 17.68 | 297.24 | 224.04 | 32.67 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 87.08 | 75.78 | 14.91 | 255.72 | 217.31 | 17.68 | 297.24 | 224.04 | 32.67 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 87.08 | 75.78 | 14.91 | 255.72 | 217.31 | 17.68 | 297.24 | 224.04 | 32.67 | | EPS (Rs)* | 5.56 | 4.84 | 14.91 | 16.32 | 13.87 | 17.68 | 18.97 | 14.30 | 32.67 | | | * EPS is on current equity of Rs 156.69 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| CMS Info Systems : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
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| Sales | | Cash management services | 61.72 | 374.99 | 338.30 | 10.85 | 63.63 | 1,086.23 | 975.63 | 11.34 | 66.84 | 1,326.28 | 1,110.81 | 19.40 | | Managed services | 34.99 | 212.59 | 156.46 | 35.88 | 32.74 | 558.91 | 458.22 | 21.97 | 30.80 | 611.13 | 489.63 | 24.81 | | Cards | 3.29 | 19.97 | 12.35 | 61.65 | 3.63 | 62.05 | 30.06 | 106.43 | 2.36 | 46.92 | 41.27 | 13.70 | | Total Reported Sales | 100.00 | 607.55 | 507.11 | 19.81 | 100.00 | 1,707.19 | 1,463.91 | 16.62 | 100.00 | 1,984.33 | 1,641.71 | 20.87 | | Less: Inter segment revenues | | 25.25 | 18.79 | 34.39 | | 69.59 | 50.63 | 37.46 | | 69.60 | 52.04 | 33.76 | | Net Sales | 100.00 | 582.30 | 488.32 | 19.25 | 100.00 | 1,637.60 | 1,413.29 | 15.87 | 100.00 | 1,914.73 | 1,589.67 | 20.45 | | PBIT | | Cash management services | 70.38 | 97.58 | 85.41 | 14.24 | 71.55 | 286.70 | 242.95 | 18.01 | 73.01 | 336.31 | 265.44 | 26.70 | | Managed services | 27.11 | 37.59 | 31.35 | 19.89 | 26.58 | 106.51 | 92.58 | 15.05 | 26.29 | 121.11 | 81.04 | 49.45 | | Cards | 2.51 | 3.47 | 1.08 | 221.57 | 1.87 | 7.50 | 1.12 | 569.64 | 0.70 | 3.24 | 3.19 | 1.35 | | Total PBIT | 100.00 | 138.64 | 117.84 | 17.65 | 100.00 | 400.71 | 336.65 | 19.03 | 100.00 | 460.66 | 349.67 | 31.74 | | Less : Interest | | 3.92 | 4.61 | -14.96 | | 12.20 | 14.06 | -13.25 | | 19.62 | 14.39 | 36.31 | | Add: Other un-allcoable | | -17.75 | -10.01 | -77.32 | | -44.31 | -29.32 | -51.11 | | -40.03 | -33.83 | -18.31 | | PBIT Margin(%) | | Cash management services | | 26.02 | 25.25 | 77.39 | | 26.39 | 24.90 | 149.26 | | 25.36 | 23.90 | 146.17 | | Managed services | | 17.68 | 20.04 | -235.72 | | 19.06 | 20.20 | -114.73 | | 19.82 | 16.55 | 326.69 | | Cards | | 17.39 | 8.74 | 864.90 | | 12.09 | 3.73 | 836.16 | | 6.90 | 7.74 | -84.06 | | PBT | 100.00 | 116.97 | 103.23 | 13.32 | 100.00 | 344.20 | 293.26 | 17.37 | 100.00 | 401.02 | 301.45 | 33.03 |
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