Net sales (including other operating income) of CMS Info Systems has declined 1.28% to Rs 619.07 crore in Q4FY2025. Sales of Cash management services segment has gone up 6.60% to Rs 413.83 crore (accounting for 62.87% of total sales). Sales of Managed services segment has declined 4.51% to Rs 226.67 crore (accounting for 34.44% of total sales). Sales of Cards segment fell 35.19% to Rs 17.70 crore (accounting for 2.69% of total sales). Inter-segment sales rose Rs 25.80 crore to Rs 39.13 crore. Profit before interest, tax and other unallocable items (PBIT) has slumped 0.65% to Rs 140.88 crore. PBIT of Cash management services segment rose 3.68% to Rs 102.02 crore (accounting for 72.42% of total PBIT). PBIT of Managed services segment fell 10.15% to Rs 34.15 crore (accounting for 24.24% of total PBIT). PBIT of Cards segment fell 12.56% to Rs 4.71 crore (accounting for 3.34% of total PBIT).

PBIT margin of Cash management services segment fell from 25.35% to 24.65%. PBIT margin of Managed services segment fell from 16.01% to 15.07%. PBIT margin of Cards segment rose from 19.73% to 26.62%. Overall PBIT margin fell from 21.72% to 21.40%.

Operating profit margin has jumped from 24.78% to 26.18%, leading to 4.29% rise in operating profit to Rs 162.08 crore. Purchase of finished goods cost fell from 19.16% to 10.74%. Employee cost increased from 13.03% to 13.49%. Other expenses rose from 44.74% to 49.89%. Selling and administration expenses rose from 17.64% to 19.98%.

Other income rose 23.63% to Rs 13.81 crore. PBIDT rose 5.58% to Rs 175.89 crore. Provision for interest rose 13.72% to Rs 4.56 crore. Loan funds rose to Rs 189.53 crore at end March 2025 from Rs 180.86 crore at end March 2024. Inventories declined from Rs 126.86 crore at end March 2024 to Rs 79.58 crore at end March 2025. Sundry debtors were higher at Rs 814.56 crore at end March 2025 compared to Rs 719.71 crore at end March 2024. Cash and bank balance rose to Rs 295.66 crore at end March 2025 from Rs 267.01 crore at end March 2024. Investments rose to Rs 616.31 crore at end March 2025 from Rs 485.14 crore at end March 2024.

PBDT rose 5.38% to Rs 171.33 crore. Provision for depreciation rose 7.50% to Rs 42.71 crore. Fixed assets increased to Rs 815.76 crore at end March 2025 from Rs 647.93 crore at end March 2024. Intangible assets stood at Rs 206.08 crore.

Profit before tax grew 4.70% to Rs 128.62 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 31.06 crore, compared to Rs 31.43 crore. Effective tax rate was 24.15% compared to 25.58%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 6.72% to Rs 97.56 crore.

Commenting on the performance of the company, Rajiv Kaul - Exec. Vice Chairman, WTD and CEO said, 'Growth in Q4 accelerated with a 6.5% increase in revenue over Q3. New order wins gained momentum crossing INR 500 crore for the quarter. FY25 has been a year of consolidation and modest growth, following three years of outperformance. We maintained high PAT margins, gained market share and expanded our addressable market in retail and Vision AI. With the order win momentum and industry consolidation, we aim for a 14-17% services revenue CAGR over the next couple of years.'

Full year results analysis

Net sales (including other operating income) of CMS Info Systems has increased 7.06% to Rs 2424.53 crore in FY2025. Sales of Cash management services segment has gone up 8.19% to Rs 1,595.18 crore (accounting for 62.49% of total sales). Sales of Managed services segment has gone up 11.20% to Rs 885.49 crore (accounting for 34.69% of total sales). Sales of Cards segment fell 19.47% to Rs 71.95 crore (accounting for 2.82% of total sales). Inter-segment sales rose Rs 95.39 crore to Rs 128.09 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 2.94% to Rs 558.45 crore. PBIT of Cash management services segment rose 4.23% to Rs 401.38 crore (accounting for 71.87% of total PBIT). PBIT of Managed services segment fell 5.54% to Rs 136.52 crore (accounting for 24.45% of total PBIT). PBIT of Cards segment rose 59.46% to Rs 20.55 crore (accounting for 3.68% of total PBIT).

PBIT margin of Cash management services segment fell from 26.12% to 25.16%. PBIT margin of Managed services segment fell from 18.15% to 15.42%. PBIT margin of Cards segment rose from 14.42% to 28.56%. Overall PBIT margin fell from 22.99% to 21.88%.

Operating profit margin has declined from 26.47% to 25.85%, leading to 4.56% rise in operating profit to Rs 626.82 crore. Purchase of finished goods cost fell from 10.84% to 8.21%. Employee cost increased from 14.31% to 14.47%. Other expenses rose from 49.03% to 51.00%. Selling and administration expenses rose from 19.36% to 20.24%.

Other income rose 48.97% to Rs 50.68 crore. PBIDT rose 6.95% to Rs 677.5 crore. Provision for interest rose 12.28% to Rs 18.2 crore. Loan funds rose to Rs 189.53 crore at end March 2025 from Rs 180.86 crore at end March 2024. Inventories declined from Rs 126.86 crore at end March 2024 to Rs 79.58 crore at end March 2025. Sundry debtors were higher at Rs 814.56 crore at end March 2025 compared to Rs 719.71 crore at end March 2024. Cash and bank balance rose to Rs 295.66 crore at end March 2025 from Rs 267.01 crore at end March 2024. Investments rose to Rs 616.31 crore at end March 2025 from Rs 485.14 crore at end March 2024.

PBDT rose 6.81% to Rs 659.3 crore. Provision for depreciation rose 7.48% to Rs 161.46 crore. Fixed assets increased to Rs 815.76 crore at end March 2025 from Rs 647.93 crore at end March 2024. Intangible assets stood at Rs 206.08 crore.

Profit before tax grew 6.59% to Rs 497.84 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 125.38 crore, compared to Rs 119.92 crore. Effective tax rate was 25.18% compared to 25.68%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 7.29% to Rs 372.46 crore.

CMS Info Systems : Consolidated Results
Particulars	2503 (3)	2403 (3)	Var %	2503 (12)	2403 (12)	Var %
Net Sales (including other operating income)	619.07	627.08	-1	2424.53	2264.68	7
OPM (%)	26.18	24.79	'	25.85	26.47	'
OP	162.08	155.43	4	626.82	599.47	5
Other Inc.	13.81	11.17	24	50.68	34.02	49
PBIDT	175.89	166.60	6	677.5	633.49	7
Interest	4.56	4.01	14	18.2	16.21	12
PBDT	171.33	162.59	5	659.3	617.28	7
Depreciation	42.71	39.73	8	161.46	150.22	7
PBT	128.62	122.86	5	497.84	467.06	7
Share of Profit/(Loss) from Associates	0.00	0.00	-	0	0	-
PBT before EO	128.62	122.86	5	497.84	467.06	7
EO Income	0.00	0.00	-	0	0	-
PBT after EO	128.62	122.86	5	497.84	467.06	7
Taxation	31.06	31.44	-1	125.38	119.92	5
PAT	97.56	91.42	7	372.46	347.14	7
Minority Interest (MI)	0.00	0.00	-	0	0	-
Net profit	97.56	91.42	7	372.46	347.14	7
EPS (Rs)*	23.9	22.4	'	22.8	21.3	'
* EPS is on current equity of Rs 163.18 crore, Face value of Rs 10, Excluding extraordinary items.
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

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