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CMS Info Systems Limited, India’s leading business services company offering banking logistics and technology services, announces its annual and fourth quarter FY23 financial results today.

FY23 Highlights:

The company achieved revenue of INR 1,915 crore, 20% growth YoY, while the operating profit (EBITDA) grew 36% from INR 408 crore to INR 552 crore in FY23.

Q4 FY23 Highlights:

The company achieved revenue of INR 501 crore, 13% growth over the same quarter last year, while the operating profit (EBITDA) grew 25% from INR 140 crore to INR 149 crore in the quarter.

Cash Logistics Business Highlights:

*       Highest ever currency throughput at INR 12.7 Lakh Crore in FY23, 16% growth YoY

*       11% YoY growth in total business commerce points for ATM and Retail (124,000 as of Mar’23)

*       16% YoY growth in critical service activities in FY23

Managed Services & Technology Business Highlights:

*       Managed Services business orderbook expands by INR 950 Crore in FY23

*       ATMs under Managed Services grown to 17,500 in Mar’23, 50% growth YoY

*       Achieved #1 market position in AIoT Remote Monitoring in banking with 21,000+ live sites

*       Technology Solutions ALGO MVS & ALGO OTC, today cover 25% and 30% ATMs respectively in India

Commenting on the performance of the Company, Mr. Rajiv Kaul – Executive Vice Chairman, Whole Time Director and CEO, CMS Info Systems said, “We continue to deliver high growth and earnings. Our FY23 PAT has grown by 33% and we have also crossed a milestone with revenues of Rs. 500 Cr in the last quarter. With robust growth in credit, banks are now investing in expanding and capturing a wider deposit share by deepening their geographical presence. In addition, the formalization of the economy and consumption increase in both metro and rural areas, along with our strong order book, positions us well for continuing to deliver to our target of doubling revenues from FY21 to FY25.”