Slide 1: Exchange cover letter: Earnings Call Presentation
CMSINFO/2502/003 February 05, 2025 To BSE Limited National Stock Exchange of India Limited Listing Department, Exchange Plaza, C-1, Block-G, Bandra 1st Floor, PJ Towers, Dalal Street, Kurla Complex, Bandra (East), Fort, Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 543441 Symbol: CMSINFO Sub: Earnin
Slide 2: Earnings Presentation Q3'FY25
Earnings Presentation Q3’FY25 G R O W T H T H R O U G H T R A N S F O R M A T I O N
Slide 3: FY25 Summary
FY25 Summary Year of consolidation following strong outperformance in FY21 – FY24 Market Backdrop Our Focus • Slowdown in consumption • Increase market share in cash logistics • Delay in PSU order book execution: 30% of last • Increased investments in tech and automation 5 Qtrs. wins (₹ 1,900 Crs) l
Slide 4: FY25 YTD Performance
FY25 YTD Performance ₹ Crs Revenue EBITDA PAT EBITDA % PAT % 28.3% 400 700 26.7% 27.2% 26.0% 30.0% 15.5% 15.3% 15.6% 15.2% 25.3% 350 14.1% 600 23.1% 12.9% 604 25.0% 300 347 500 541 20.0% 297 470 250 275 400 446 256 2,265 402 200 15.0% 224 300 150 1,915 302 10.0% 169 1,805 200 1,590 1,638 100 100 5.0
Slide 5: Q3'FY25: Maintaining strong margins
Q3’FY25 : Maintaining strong margins Revenue deferred due to slower order execution ₹ Crs Revenue EBITDA PAT Services Prdt. Automation EBITDA EBITDA % PAT PAT % 170 50.0% 100 30.0% 582 581 160 45.0% 95 93 160 6% 7% 25.0% 46 32 151 40.0% 90 87 150 35.0% 85 20.0% 30.0% 80 140 27.5% 25.0% 75 15.0% 25.9
Slide 6: FY25 Outlook
FY25 Outlook Revenue to be within 1-2% of lower range of guidance ₹ Crs Revenues 2,500 - 2,700 2,450 - 2,500 • Slowdown in Consumption 2,265 • Delay in contract roll-out 8-10% - Annual Rev. accrual ₹ 300-350 Crs; Impact of ₹ 150 Crs in FY25 - FY25 Capex estimated at ₹ 150-200 Crs against guidance of
Slide 7: Maintaining capital allocation and strong return profile leading to cash flow generation
Maintaining capital allocation and strong return profile leading to cash flow generation Disciplined capital Resulting in strong cash …delivering high …increasing allocation.. flow generation… RoCEs… dividends 74% 69% 500 75% 250 219 450 61% 63% 208 27.0% 25.4% 65% 23.96 200 24.3% 24.4% 400 440 55%
Slide 8: Cash Logistics Business – 150 BPS Revenue market share gain
Cash Logistics Business – 150 BPS Revenue market share gain Highest-ever currency Retail Currency Continued momentum handled in Q3 (₹ Tn) processed/store* stable in touch point addition (₹ Lacs/Month) Q3'24 Q3'25 3.6 45 45 6% 146,000 33 33 33 34 3.4 10% 133,000 Dec 2023 Dec 2024 Q3 FY24 Q3 FY25 Metr
Slide 9: Cash Logistics Financial Summary
Cash Logistics Financial Summary YTD 9% Revenue and 4% EBIT growth Revenue EBIT EBIT % ₹ Crs 1,181 26.4% 25.3% 9% 1,086 4% 299 9M FY25 287 9M-FY24 9M-FY25 9M-FY24 9M-FY25 9M-FY24 9M-FY25 8% 6% 26.0% 25.6% 404 98 103 375 Q3 FY25 Q3-FY24 Q3-FY25 Q3-FY24 Q3-FY25 Q3-FY24 Q3-FY25 8 G R O W T H T H R O U
Slide 10: Managed Services & Technology/AIoT RMS Business Update
Managed Services & Technology/ AIoT RMS Business Update Sector seeing consolidation trends • ATM network of large PSU and Pvt banks affected due to instability at an industry player; transitioning to stronger market players Breakthrough wins: ₹ 300 Crs wins in Q3; ₹ 700 Crs YTD • End to End Managed
Slide 11: Managed Services and Tech Business Financial Summary
Managed Services and Tech Business Financial Summary YTD 15% Revenue and 4% EBIT growth Revenue EBIT EBIT* % ₹ Crs 4% 118 114 18.4% 16.6% 15% 713 9M FY25 621 9M-FY24 9M-FY25 9M-FY24 9M-FY25 9M-FY24 9M-FY25 233 -10% 210 41 -9% 38 Q3 FY25 17.6% 17.9% Q3-FY24 Q3-FY25 Q3-FY24 Q3-FY25 Q3-FY24 Q3-FY25 Dip
Slide 12: CMS Business Services Platform
CMS Business Services Platform 7 high margin B2B Business lines with ₹ ~100 -1000 Crs revenue ~ 2 5 Revenue Split % AIoT RMS/Software ~84% • SaaS revenue model; 30%+ FY21-24 CAGR 16% ~15% subscription • ~10% revenue contribution by FY27 17% Managed Solutions ~25% Managed • Tech oriented with strong
Slide 13: Medium Term Outlook
Medium Term Outlook Opportunity to compound Services revenue @ 14 - 17% • 100,000 ATMs yet to be O/S Feb 04, 2025 Cash Logistics • Growth in organised retail; increase in RBI considering hiking ATM cash transaction, penetration interchange fees Retail Opportunity in 10-13% CAGR • Bank branch expansi
Slide 14: Strong track record of value creation through programmatic M&A
Strong track record of value creation through programmatic M&A Active pipeline in identified sectors Proven track record of buying at attractive multiples with avg. payback Sectors of Interest period of <3 years Service capabilities Year Acquisition added Specialized Logistics 2012 Cash Logistics SI
Slide 15: Capital Market Information
Capital Market Information (BSE: CMSINFO | 543441, NSE: CMSINFO) Share Price Movement (Up to 31st December, 2024) 80.00% 45.00% 10.00% -25.00% Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 CMS BSE Sensex BSE Small Cap Share Price Data (As on 31st December, 2024)
Slide 16: Annexures
Annexures 15 G R O W T H T H R O U G H T R A N S F O R M A T I O N
Slide 17: CMS platform expansion driving growth
CMS platform expansion driving growth Through depth and breadth of wins Deepening enterprise engagement Gaining wallet share Managed Services & Tech Solutions Number of Large BFSI Accounts Bank Cash Logistics (₹ 100 Cr+ Annual Revenue) Banking ATM-as- ALGO Software ALGO AIoT Payment Cards Automation
Slide 18: Experienced board; Seasoned leadership
Experienced board; Seasoned leadership New Nomination Sunil Mehta Former MD & CEO - PNB, Shyamala Gopinath Tapan Ray MD & Group CEO of Gift City CEO Indian Banks’ Association Former Deputy Governor, RBI Experienced Directors Rajiv Kaul Krzysztof Jamroz Executive Vice Chairman, Whole Time Executive C
Slide 19: Recognised for our financial strength & governance
Recognised for our financial strength & governance Best CFO 2024 - Medium Sized Enterprise The Award was presented by Union minister for Electronics & IT, I & B and Railways, Shri Ashwini Vaishnaw. The FE CFO Awards, now in its 7th year, was presented to 14 institutions in recognition of their pione
Slide 20: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (All figures in ₹ Mn) Q3’FY25 Q2’FY25 Q-o-Q Q3’FY24 Y-o-Y Operating Income 5,815 6,245 (6.9)% 5,823 (0.1)% Expenses 4,221 4,716 (10.5)% 4,315 (2.2)% Operating EBITDA 1,594 1,530 4.2% 1,508 5.7% EBITDA Margins (%) 27.41% 24.50% 291 Bps 25.90% 1
Slide 21: YTD Consolidated Financial Performance
YTD Consolidated Financial Performance Particulars (All figures in ₹ Mn) 9M-FY25 9M-FY24 Y-o-Y Operating Income 18,055 16,376 10.3% Expenses 13,409 11,936 12.3% Operating EBITDA 4,646 4,440 4.6% EBITDA Margins (%) 25.73% 27.11% (138) Bps Finance costs 136 122 11.5% Depreciation and amortisation expe
Slide 22: Historical Consolidated Income Statement
Historical Consolidated Income Statement Particulars (All figures in ₹ Mn) FY21 FY22 FY23 FY24 Operating Income 13,061 15,897 19,147 22,647 Expenses 10,125 11,900 13,770 16,652 Operating EBITDA 2,936 3,997 5,377 5,995 EBITDA Margins (%) 22.48% 25.14% 28.08% 26.47% Finance costs 82 144 196 162 Deprec
Slide 23: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet (All figures in ₹ Mn) FY22 FY23 FY24 H1”FY25 (All figures in ₹ Mn) FY22 FY23 FY24 H1’FY25 Assets Equity share capital 1,531 1,544 1,628 1,631 Non-current assets Other equity 11,030 14,081 17,840 19,389 Property, plant and 3,470 4,697 4,677 4,407 Total equity att
Slide 24: Historical Consolidated Cash Flow Statement
Historical Consolidated Cash Flow Statement (All figures in ₹ Mn) FY22 FY23 FY24 (All figures in ₹ Mn) FY22 FY23 FY24 Cash flow from operating activities: Cash flow from investing activities Profit before tax 3,014 4,010 4,671 Proceeds from sale of property, plant and Adjustments to reconcile profit
Slide 25: Safe Harbour Statement
Safe Harbour Statement No representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current