CMS Info Systems LimitedQ1 FY27 Results & Financial Update
CMS Info Systems Limited: Q1 FY27 consolidated results and company financials – revenue ₹634.70 Cr, PAT ₹83.68 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore CMS Info Systems Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Profit before tax was ₹104.99 Cr for the reported quarter. EPS was ₹5.10 for the reported quarter.
Q1 FY27 services revenue reached INR 625 crores, up 9.3% year-on-year and 2.6% sequentially, falling INR 25 crores short of the INR 650 crores target due to a severe currency supply squeeze where banks supplied about 70% of indented currency.
EBITDA rose 8.9% year-on-year to INR 173 crores with margins expanding 170 basis points sequentially to 27.2%, driven by route automation, yield management, and scaling high-margin Tech and Payments revenues.
Profit after tax was ₹83.68 Cr for the reported quarter. EPS was ₹5.10 for the reported quarter.
01 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹634.70 Cr |
| Total income | ₹649.81 Cr |
| Profit before tax | ₹104.99 Cr |
| Profit after tax | ₹83.68 Cr |
| EPS | ₹5.10 |
02 · Why it moved
Why the quarter looked the way it did
What drove margins
Management raised FY27 EBITDA margin guidance to about 27% from the previous 25% to 26% range, supported by technology-driven unit cost reductions and operational efficiencies.
03 · Demand, customers & order book
Where demand is coming from
Currency in circulation is up 12% year-on-year and retail same-store volumes remain constant, confirming the Q1 revenue shortfall is driven by a supply restriction rather than weakened consumer demand.
04 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Following a peak capex run-rate of INR 350 crores in FY26 driven by order execution and product development, FY27 capex is estimated to normalize significantly lower to the INR 100 crores to INR 125 crores range.
05 · Reported developments
What changed operationally
Retained 60% market share in ATM cash management and 38% in retail solutions, winning INR 500 crores of orders in Q1 including the 6,000 ATM HDFC Bank mandate across 5 years valued at INR 400 crores TCV.
Tech and Payments segment contribution expanded to 18% of services revenue, with HAWKAI Enterprise product successfully deployed nationally at a major PSU bank and ALGO MVS software going live in ICICI Bank in Q3 after SBI deployment.
06 · Pressure points & risks
What is not going smoothly
Severe currency chest shortfalls in Tier 2 and Tier 3 locations caused a 27% transaction drop in under-supplied ATMs, creating a INR 18 crores revenue loss in the brown label ATM business and INR 7 crores in cash logistics.
Faced very steep state-level minimum wage increases ranging from 6% to 60% across large states alongside an 8% increase in fuel costs, necessitating higher-than-average price increases.
07 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Completed a share buyback on June 19, 2026, repurchasing 49.39 lakh shares at INR 340 per share for a total cash outflow of INR 168 crores, leaving approximately INR 400 crores of cash on books.
08 · Management guidance & targets
What management is targeting from here
Services revenue goal adjusted to INR 2,650 crores - INR 2,750 crores (from INR 2,700 crores - INR 2,800 crores) and total revenue estimated at INR 2,750 crores - INR 2,850 crores, with platform growth rates expected at 11%-14% for ATM management and retail/currency logistics and 35%-40% for technology and payments.
09 · Management call deep dive
What management said on the conference call
Operating takeaways
7 key pointsManagement confirmed no near-term plans to enter the merchant acquiring space or pursue a payment aggregator license, citing extreme competitive intensity and low profitability.
Management stated intent to prune persistently underperforming brown label ATMs from the estate if currency supply and transaction levels fail to normalize.
Currency in circulation is up 12% year-on-year and retail same-store volumes remain constant, confirming the Q1 revenue shortfall is driven by a supply restriction rather than weakened consumer demand.
Following a peak capex run-rate of INR 350 crores in FY26 driven by order execution and product development, FY27 capex is estimated to normalize significantly lower to the INR 100 crores to INR 125 crores range.
Management raised FY27 EBITDA margin guidance to about 27% from the previous 25% to 26% range, supported by technology-driven unit cost reductions and operational efficiencies.
Completed a share buyback on June 19, 2026, repurchasing 49.39 lakh shares at INR 340 per share for a total cash outflow of INR 168 crores, leaving approximately INR 400 crores of cash on books.
Services revenue goal adjusted to INR 2,650 crores - INR 2,750 crores (from INR 2,700 crores - INR 2,800 crores) and total revenue estimated at INR 2,750 crores - INR 2,850 crores, with platform growth rates expected at 11%-14% for ATM management and retail/currency logistics and 35%-40% for technology and payments.
Important analyst Q&A
2 key pointsFSS deal contributed roughly INR 20 crores in revenue accruals for Q1, with contract novation processes underway and synergy benefits expected to flow starting in H2.
The Indian Banks' Association (IBA) has constituted a committee to review statutory cost increases and evaluate repricing legacy public sector bank contracts, with private sector discussions progressing toward expected Q2 closure.
10 · Key Q&A
The quarter, answered directly
What is the clearest takeaway from Q1 FY27?
Profit before tax was ₹104.99 Cr for the reported quarter. EPS was ₹5.10 for the reported quarter.
What drove revenue or demand?
Currency in circulation is up 12% year-on-year and retail same-store volumes remain constant, confirming the Q1 revenue shortfall is driven by a supply restriction rather than weakened consumer demand.
What mattered most for margins or profitability?
Management raised FY27 EBITDA margin guidance to about 27% from the previous 25% to 26% range, supported by technology-driven unit cost reductions and operational efficiencies.
What changed operationally beyond the headline numbers?
Following a peak capex run-rate of INR 350 crores in FY26 driven by order execution and product development, FY27 capex is estimated to normalize significantly lower to the INR 100 crores to INR 125 crores range.
What is management guiding or targeting from here?
Services revenue goal adjusted to INR 2,650 crores - INR 2,750 crores (from INR 2,700 crores - INR 2,800 crores) and total revenue estimated at INR 2,750 crores - INR 2,850 crores, with platform growth rates expected at 11%-14% for ATM management and retail/currency logistics and 35%-40% for technology and payments.
What are the main pressure points disclosed for the quarter?
Severe currency chest shortfalls in Tier 2 and Tier 3 locations caused a 27% transaction drop in under-supplied ATMs, creating a INR 18 crores revenue loss in the brown label ATM business and INR 7 crores in cash logistics.
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