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CMS is the largest cash management company in India and majorly serves 2 verticals. 1. Cash management services (61% of revenue) - wherein company mainly caters to different Banks by helping them in managing cash for ATM & retail services. 2. Managed & Technology Solutions (39% of rev), which majorly includes end-to-end Brown Label deployment, Software solution, Banking automation solution, AI based Remote Monitoring, Security Software solutions.

* Company has strong management with proven track record wherein Mr Rajiv Kaul who is executive VC and CEO has been associated with the Company since July 1, 2009. Prior to turning around CMS, Rajiv was CEO of Microsoft India at the age of 33.

* AGS Transact which is peer to the company is facing liquidity issues affecting its ATM services business (32,000 ATM Machines). CMS Info which manages nearly ~ 73,000 machines is expected to be a major beneficiary with banking clients to look for alternative arrangements to service ATMs.

* RBI has approved an increase in ATM interchange fees (from Rs.17 to Rs.19 for cash withdrawals), set to take effect on May 1, 2025. This move will see growth in self bank ATM transactions and potential outsourcing by PSU banks, thus benefitting CMS.

* CMS provides SaaS based AI Remote Monitoring Service (RMS) to BFSI branches including ATMs, Banks and NBFCs and further has expanded into Retail, EV Charging, QSR sectors as well. This new business has grown at a CAGR of 30% during FY21-24 and is expected to keep the growth momentum. In addition, Co also provides tech solutions for retail chains like inventory solutions, automated cash reconciliation, etc.

* CMS info system is well poised for growth which will be driven by Retail cash management and Managed Services. Company is debt free and is expected to grow at a CAGR of 15%. At CMP, stock is trading at a P/E of 15x FY27 expected earnings and looks attractive

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SEBI Registration number is INH00000176