CMS Info Systems Limited — Investor Presentation 2022

Nov 1, 2022

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CMSINFO/2211/003

November 1, 2022

To,

BSE Limited

Listing Department, 1[st] Floor, PJ Towers, Dalal Street, Fort, Mumbai – 400 001 Scrip Code: 543441

National Stock Exchange of India Limited Listing Department, Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra(East), Mumbai – 400 051 Symbol: CMSINFO

Dear Sir/Madam,

Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

Pursuant to Regulation 30 of Listing Regulations, please find attached Investor Presentation on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2022.

You are requested to kindly take the same on your record.

Thanking You,

For CMS Info Systems Limited

PRAVEEN Digitally signed by PRAVEEN SONI SONI Date: 2022.11.01 23:12:22 +05'30'

CS Praveen Soni Company Secretary & Compliance Officer (Membership No. FCS 6495)

Encl: A/a

Regd. Office: T-151, 5th Floor, Tower No.10, Sector-11, railway station complex, CBD Belapur, Navi Mumbai- 400 614 | T: +91-22-4889 7400 | F: +91-22-4889 5177 CMS Info Systems Limited |CIN: L45200MH2008PLC180479 | www.cms.com | E: contact@cms.com

1

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COMPANY OVERVIEW

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Leading Business Services Company Catering To BFSI & Retail Sector

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Logistics Services Product Solutions Tech Outsourcing Services
ATM Cash Retail Cash Cash in Bank Automation ATM Managed Card Mgmt. Software Remote
Management Management Transit (CIT) Solutions Services Solutions Solutions Monitoring
Only Integrated Banking Largest Cash PAN India Footprint; Servicing leading Highly qualified and
Solutions provider Management 16K+ Pin codes banks like SBI, HDFC,
experienced management
with end-to-end offerings company in India covered ICICI & Axis
supported by diverse board
INR 11.2 Tn 25.14% 23.6%
Cash handled in FY22 FY22 EBITDA Margin FY22 ROCE
Zero Debt
150,000+ 33%
Company for 4 years with AA
Servicing Business Points FY19-22 PAT CAGR
credit rating
4,000+ INR 2,780 Mn 67%
Cash Vans FY22 Cash [(1)] 3 year Avg. OCF / EBITDA
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(1) Cash & Investments is inclusive of Cash & Cash Equivalents, Bank balance & Investments

Offering End-to-end One Stop Solutions

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Banking
Automation/
Product
Deployment
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Key Business Verticals

• Cash Management

• • End-to-end ATM replenishment – inclusive of cash withdrawal, ATM replenishment, cash evacuation and deposition for BNA/recyclers, day-end reporting, reconciliation and settlement

• Cash pick up and delivery from retail outlets and enabling settlement with retailers’ banks

• Currency movement inter/intra city for Banks

Managed Services

• Sales, deployment, and maintenance of ATMs

• Brown label ATM Deployment

• Managed Services for bank owned ATM networks

• Management and personalization of cards

• Tech Solutions

• • Software solutions • AI based Remote Monitoring

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Financial Highlights

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(INR Mn)
15,897
13,832 27.91%
13,061
25.14%
11,462
22.48% 9,250
18.36%
17.27%
3,997
1,980 2,539 2,936 2,582
FY19 FY20 FY21 FY22 H1-FY23
Operational Revenue EBITDA
EBITDA Margin
Business Mix FY22
Cash
Management
69%
Managed
Servcies &
Others [(1)]
31%
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(1) Managed services revenue comprises of Managed services, Cards (other business) and Tech solutions revenues

CMS’ Presence Across The Cash Value Chain

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Embedded into the clients' systems and process while offering a wide range of services at different stages of the cash cycle

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1
ATM
2 3
Branch
11 Cash-in-transit services to the banks that run currency chests
1
2 ATM cash management services to banks (on behalf of MSPs)
7 Bank chest 6 4 ATM deployment and maintenance services, Brown Label ATM
33 services, multi-vendor software solutions and remote
General Store monitoring services
44 Retail cash management services to retailers and other
4 corporates, as well as deployment of retail cash vaults
Reconciliation of ATM and retail cash balances and end-of-
5
day reporting
Coffee shop 4
5
4
Branch 66 Credit and debit card personalization services to banks
7 Currency chest automation
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5

Our Journey: Transforming into a Business Services Platform

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• 450 CMS T ~~ime~~ lineEBITDA* (Crs) Revenue: ₹ 1,590 Cr

• 400 EBITDA: ₹ 408 Cr 350 7x Revenue growth

• 300 8x EBITDA growth 250 200 150 Revenue: ₹ 216 Cr

• 100 EBITDA: ₹ 50 Cr 50 Restructure Growth Resilience Accelerated expansion

• 0 2008-09 2011-12 2015-16 2019-20 2021-22 *from continuing business

• • Rajiv Kaul Partners Blackstone to • Becomes the largest cash • Sees difficult times – demonetization, • On a fast-growth trajectory despite acquire majority stake management company in India after GST, NPA crisis COVID-19

• • Review and Restructuring of acquiring Securitrans • Acquires Clover Tech to enter BLA • 70,000 ATMs under cash Portfolio • Enters banking automation with sector management

• • Focus on Cash Management 7,000 deployment of 8,000 ATMs • Launches Software Solutions – Wins • IPO done in Dec 2021 ATMs • Demerges IT Infra division Multi Vendor software for SBI • Enters fast growing AIoT Remote Monitoring

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Highly Qualified Management With A Diverse Board And Strong Governance

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Experienced
Directors
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Strong
Management
With Deep
Industry
Know-How
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Shyamala Gopinath Tapan Ray Ms. Manju Agarwal Krzysztof Jamroz
Ex-Deputy Governor of MD & Group CEO of Gift City Executive Chairman at Roadrunner
RBI
Sayali Karanjkar Jimmy Mahtani Ashish Agrawal
Non-Executive Independent Managing Director at BPEA Managing Director at BPEA
Director, Co-founder of Paysense
Rajiv Kaul
Pankaj Khandelwal Anush Raghavan
Executive Vice Chairman, Whole President & CFO President – Cash Management
Time Director & CEO
27+ years of industry experience Business
24+ years of industry experience
14+ years of industry experience
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Anush Raghavan President – Cash Management Business 14+ years of industry experience

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Sanjay Singh Chief Human Resources Officer (CHRO)

Rohit Kilam CTO 20+ years of industry experience

Manjunath Rao

President – Managed Services Business 34+ years of industry experience

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7

Leader In Cash Management Services In India

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ATM Cash Management

Retail Cash Management Cash-in-Transit (CIT) and (RCM) Emerging Businesses

46% market share[(1)]

36% market share[(1)]

26% market share[(1)]

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36% market share [(1)] 26% market share [(1)]
Cash Management Revenue Cash Management EBIT & EBIT Margin
(INR Mn) (INR Mn)
11,108
2,654
9,776
9,094 2,040
8,906
1,666
1,575
1,403 23.9% 24.7%
22.4%
17.0%
6,373
15.8%
FY19 FY20 FY21 FY22 H1-FY23 FY19 FY20 FY21 FY22 H1-FY23
EBIT EBIT Margin
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(1) As per company estimates

Route Based Logistics With Extensive Distribution Across India

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Deep entrenchment to India’s hinterland, Logistical planning and Route productivity are fundamental to CMS’ successful track record

Cash Management Operations Cycle

97% coverage pan-India including remote areas[(3)]

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Cash 3 16K+
1 CMS Van 2 from bankswithdrawal Pincodes 6 Jammu & Kashmir, Ladakh
Branch office BranchOffice Crew 2 allocated Bank covered [(1)]
assigned Himachal Pradesh
4,000+ vans [(1)] Punjab 1
CMS 12 Uttarakhand
4
Haryana
3 8 Delhi
Cash 10 Bihar Assam
replenishment Rajasthan Uttar Pradesh
of different 8 3
13
5 bank ATMs 14
of retail collections Overnight vaulting CMS Gujarat Madhya Pradesh
and Jharkhand
daily reporting and 14 13 West Bengal
reconciliations 10
Chhattisgarh 2
Retail
Retail Maharashtra 12 Odisha Mix of ATM cash management
CMS 24 14 points FY21
CMS
4 Semi-Metro
Retail 15%
Outlets cash Andhra Pradesh
deposited Goa
Retai 13 and Telangana
l Retail 3
1
Cash pick-up Metro
CMS at different retail Karnataka 23%
22
outlets
SURU(2)
Kerala Tamil Nadu 62%
3 5 8 12
FLM at
ATM Branches
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(1) For FY22 (2) As of 31st March, 2022, on the basis of total number of ATM points (3) For FY22, on the basis of districts covered

9

One Of The Few Integrated Players In India With A Strong Technology Edge

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Banking Automation
Solutions
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Brown Label ATMs and Managed Services (BLA + MS)

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Software Solutions

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AI based Remote Monitoring

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Managed Services Revenue
(INR Mn)
4,896
3,622 3,641
3,018
1,972
FY19 FY20 FY21 FY22 H1-FY23
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Managed Services EBIT & EBIT Margin
(INR Mn)
810
20.3%
635
612
17.8% 547
17.5%
15.0% 16.5%
351
FY19 FY20 FY21 FY22 H1-FY23
EBIT EBIT Margin
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The CMS Edge

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An integrated, tech-led pan India business platform serving India's cash eco-system Leadership position across most segments, backed by operation excellence and robust financials Longstanding customer relationships leading to increased business opportunities Multi-year recurring predictable revenue streams Pan-India footprint with deep penetration in growing markets Strong track record of value accretive acquisitions Experienced and qualified management team

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India Is The World’s 3[rd] Largest ATM Market With Significant Underpenetration In SURU[(1) ] And Low Cash Velocity

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of ATMs deployed (2020) # of ATMs per 100K population (2020) Velocity of cash remains relatively low
(2020)
(In ‘000s) Cash Velocity = ATM Withdrawal / CIC
State/UT Penetration
625 123 9.5
Delhi 41
Tamil 35
Nadu
8 8
103
AP 21
95
Rajasthan 14
430
MP 13
UP 10
5.5
Bihar 7
62
300
255
47
210
3
∑ = 255
26 2
22
1.5
15
60 55 50 50
40
China US LatAm India Africa& ME Germany UK Spain France Italy USA Brazil China Mexico AverageGlobal Metro Avg. SURU(1) AfricaSouth Canada China Brazil Russia UK India
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Source: Outlookworld, FIS Global, RBI, SDG, Niti Aayog, Frost & Sullivan (1) SURU: Semi-Urban and Rural

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Cash Transactions in India to grow at higher CAGR than previous years

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….Leading To higher cash withdrawal transactions

Consistent growth in Cash in Circulation…

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(INR Tn)
47
43
38
33 33 33
29 29
25 24
22
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22E FY23E FY24E FY25E
13% CAGR
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(INR Tn)
42
38
34
31
28
24
21
17 18
14
13
15% 15%
14% 14% 14%
12% 12%
10% 10% 11%
9%
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23E FY24E FY25E
CIC CIC/Nominal GDP
To gain more insights on Cash Transactions, click on CMS Cash Index logo:
Supported by banking network growth…
(In ‘000s)
365
255
215
180
125
112
78
68
FY10 FY16 FY21 FY27E
ATMs Bank Branches
6% CAGR
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To gain more insights on Cash Transactions, click on CMS Cash Index logo:

… and Debit card transactions to grow at 9% CAGR

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(INR Tn)
51
47
42 43
39 39
36
34
27 27
23
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22E FY23E FY24E FY25E
~900 Mn debit cards used 6.7x at an ATM vs Point of Sale
9% CAGR
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Sources: Frost & Sullivan As of Aug ’21; RBI; CRISIL

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Growth Drivers: Formalization, Higher Outsourcing

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1
Economy formalization,
Consumption Growth –
Increase in Cash Wdls. and
RCM market
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2
Increase in advanced
Process Outsourcing
by Banks
Outsourced ATMs are expected to grow at a 10% CAGR
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Outsourced organized retail points are expected to grow at a
Outsourced ATMs are expected to grow at a 10% CAGR
12% CAGR
# of retail points in India # of ATMs in India
Total
3 mn 4 mn ~6%
addressable ~365K
CAGR
~780K
~110K
~ 255k
~490K
~570K
~102K
~380K
75% ~255K
~153K 60%
27% ~210K
~110K 22%
FY21 FY27 FY21 FY27
Outsourced organised retail points Other organised retail points Outsourced ATMs Other ATMs
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Sources: RBI, Frost & Sullivan, Secondary Sources

1

Growth Drivers: Regulation, Banking Expansion & Consolidation

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3
Regulatory focus on
Access, Quality and
Safety
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4
Banking Refresh
and Expansion
Cycle
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India Added 15k ATMs in last 15 months

Increase in ATM Interchange (2021)

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253.2k
238.6k
40k
28k
WLA/Others
73k 75k
Pvt. Sector
74k 73k PSU (Ex SBI)
SBI
63k 66k
Mar'21 Jun'22
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n INR 15 to INR 17 per txn

RBI/MHA Compliance Standards for Currency Management (2019…)

n Minimum net worth, scale

• n Stringent SOPs

Enhanced Security Standards

n Cassette Swap” Process

• 40k ATMs Pipeline for next 12-18 months

• Shift to end-to-end outsourcing

Strict adherence to RBI Compliances

• Large multi-year recurring streams similar to IT Services companies

n 2 WLA Operator licenses revoked

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5
Market Consolidation
(Shift to High Quality
Players)
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India Cash Management Consolidation Trends

ATM Cash Management Market Share (%)

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Others
Others 28%
40%
#2
Player, Top 2
31% Players
~72%
Top 2 Market
Players
Share
~60% CMS
41%
FY18 FY21
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Source: RBI, Frost and Sullivan.

15

FY27 TAM: Opportunity of ~ ₹ 22,000 Crore

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CMS has continuously expanded its TAM
CAGR
2.6x 22,000
INR Crs
Remote Monitoring
3,000 25%
Solutions
Brown Label ATM
11,620 17%
Deployment
2.8x 8,500
Banking Automation &
4,600 19%
Software Services
4,570
Cash Management
3,000 7,900 19%
1,650 Solutions
1,000
2,730
2,000
FY15 FY21 FY27
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**FY21-FY27 CAGR for the market opportunity

*Total TAM is lower than gross sum because of some overlap between Cash Management and BLA

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Regulatory Tailwind And Contract Refresh Cycle To Drive Volume And Pricing Growth

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• Refresh and Expansion Infra, Compliances, economy

• cycle Financial inclusion

• • • • Preferred Asset Light model RBI’s stricter compliance Growth in organized retail resulting in Capex to Opex model standards • Increasing utilization of cash

• shift • Strict ATM security requirements though banking channels and

• • End-to-end outsourcing • higher outsourcing ATM interchange increase

• • Large multi-year recurring deal • Consumption growth flow in Managed Services

Sources: RBI, Frost & Sullivan, Secondary Sources

17

Our Playbook

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Market Leadership in Core Business Invest in Adjacencies and Tech to Expand TAM
Focus on large &
Drive innovation at
complex projects to
scale and attract
deepen customer
best talent
engagement
Establish right-to-win
World class quality Accelerate Growth Create Long-term
through end-to-end
benchmarks Recurring Revenue
and Profitability
integrated offerings
Streams
Lowest unit
Faster payback
economics driven by
periods resulting in
scale and productivity
high FCF
gains
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Q2/H1-FY23 FINANCIAL OVERVIEW

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Q2/H1-FY23 Financial Highlights

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Revenue EBITDA
(INR Mn) (INR Mn)
27% 40% 42%
4,717 1,342
82
3,721
1,556
96 942
986
28.5%
25.3%
3,079
2,639
Q2-FY22 Q2-FY23 Q2-FY22 Q2-FY23
Cash Mgmt. Managed Others EBITDA EBITDA Margin (%)
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Cash Mgmt. Managed Others
Services Services
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25%
9,250
177
7,419
202 3,018
2,246
6,055
4,971
H1-FY22 H1-FY23
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44%
2,582
1,787
27.9%
24.1%
H1-FY22 H1-FY23
EBITDA EBITDA Margin (%)
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PAT
(INR Mn)
37%
725
528
15.4%
14.2%
Q2-FY22 Q2-FY23
PAT PAT Margin (%)
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42%
1,415
998
15.3%
13.5%
H1-FY22 H1-FY23
PAT PAT Margin (%)
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Cash Mgmt. Managed Others Services Services

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Q2/H1-FY23 Operational Highlights: Cash Management Business

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Revenue EBIT
INR Mn INR Mn
23%
17%
3,242
2,764 806
656
24.9%
23.7%
Q2-FY22 Q2-FY23 Q2-FY22 Q2-FY23
EBIT EBIT %
23% 32%
6,373
5,196
1,575
1,191
24.7%
22.9%
H1-FY22 H1-FY23 H1-FY22 H1-FY23
EBIT EBIT %
Q2-FY23
H1-FY23
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Cash Management: Operational Highlights

• Cash management activities up +6% QoQ in Q2 despite slowdown in consumption, particularly in rural India

• Currency handled in the quarter up 12% YoY

• On track to achieve the company’s annual compliance target

21

Q2/H1-FY23 Operational Highlights: Managed Services Business

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Revenue EBIT
INR Mn INR Mn
119%
58%
1,556
316
986
144
20.3%
14.6%
Q2-FY22 Q2-FY23 Q2-FY22 Q2-FY23
EBIT EBIT %
34% 82%
3,018
612
2,246
337
20.3%
15.0%
H1-FY22 H1-FY23 H1-FY22 H1-FY23
EBIT EBIT %
Q2-FY23
H1-FY23
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Managed Services: Operational Highlights

• Total orderbook expands to INR 2,800 Crore+ with INR 600 Crore+ new wins in H1

• AI-based remote monitoring base crosses 18,500 sites in Sep’22

• Conducting pilots with new customers in banking and NBFC space in Remote monitoring

22

Quarterly Consolidated Financial Performance

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Particulars (All figures in INR Mn)	Q2-FY23	Q1-FY23	Q-o-Q	Q2-FY22	Y-o-Y
Operating Income	4,717	4,533	4.1%	3,721	26.8%
Expenses	3,375	3,294	2.5%	2,779	21.4%
Operating EBITDA	1,342	1,239	8.3%	942	42.5%
Operating EBITDA Margins (%)	28.45%	27.33%	112 bps	25.32%	313 bps
Finance costs	50	45	11.1%	39	28.2%
Depreciation and amortisation expense	342	297	15.2%	225	52.0%
Other Income	29	24	20.8%	21	38.1%
Profit before tax	979	921	6.3%	699	40.1%
Tax	254	231	10.0%	171	48.5%
Profit After Tax	725	690	5.1%	528	37.3%
PAT Margins (%)	15.37%	15.22%	15 bps	14.19%	118 bps
Other Comprehensive income for the year	1	0	NA	0	NA
Total Comprehensive Income for the year	727	690	5.4%	528	37.7%
Earning per equity share (nominal value of share Rs 10) – Diluted	4.56	4.37	4.3%	3.42	33.3%

23

Half Yearly Consolidated Financial Performance

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Particulars (All figures in INR Mn)	H1-FY23	H1-FY22	Y-o-Y
Operating Income	9,250	7,419	24.7%
Expenses	6,668	5,632	18.4%
Operating EBITDA	2,582	1,787	44.5%
Operating EBITDA Margins (%)	27.91%	24.09%	382 bps
Finance costs	95	71	33.8%
Depreciation and amortisation expense	640	420	52.4%
Other Income	53	38	39.5%
Profit before tax	1,900	1,334	42.4%
Tax	485	336	44.3%
Profit After Tax	1,415	998	41.8%
PAT Margins (%)	15.30%	13.45%	185 bps
Other Comprehensive income for the year	2	0	NA
Total Comprehensive Income for the year	1,417	998	42.0%
Earning per equity share (nominal value of share Rs 10) – Diluted	8.90	6.47	37.6%

24

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HISTORICAL FINANCIAL OVERVIEW

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Historical Consolidated Income Statement

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Particulars (All figures in INR Mn)	FY19	FY20	FY21	FY22	H1-FY23
Operating Income	11,462	13,832	13,061	15,897	9,250
Expenses	9,482	11,293	10,125	11,900	6,668
Operating EBITDA	1,980	2,539	2,936	3,997	2,582
Operating EBITDA Margins (%)	17.27%	18.36%	22.48%	25.14%	27.91%
Finance costs	74	73	82	144	95
Depreciation and amortisation expense	537	566	635	918	640
Other Income	131	50	158	79	53
Profit before tax	1,499	1,951	2,378	3,014	1,900
Tax	538	604	692	774	485
Profit After Tax	961	1,347	1,685	2,240	1,415
PAT Margins (%)	8.38%	8.21%	12.89%	14.09%	15.30%
Other Comprehensive income for the year	(1)	(11)	(1)	4	2
Total Comprehensive Income for the year	960	1,336	1,684	2,244	1,417
Earning per equity share (nominal value of share Rs 10) – Diluted	6.33	8.87	11.09	14.33	8.90

26

Historical Consolidated Balance Sheet

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(All figures in INR Mn)	FY21	FY22	H1-FY23		(All figures in INR Mn)	FY21	FY22	H1-FY23	27
Assets					Equityshare capital	1,480	1,531	1541
Non-current assets					Other equity	8,365	11,030	12,434
Property, plant and equipment	1,897	3,470	4,393		Total equity attributable to equity holders	9,845	12,561	13,975
Capital work-in-progress	227	436	471
Right-of-use assets	1,211	1,800	1,953		Liabilities
Goodwill	2,034	2,061	2,061		Non-current liabilities
Other Intangible assets	190	173	129		Financial liabilities
Intangible assets under development	5	1	4		Lease liabilities	945	1,468	1,623
					Provisions	191	201	212
Financial assets					Other Liabilities	-	9	9
Investments	0	0	0		Total of Non-current liabilities	1,136	1,678	1,844
Other financial assets	259	331	356
Deferred tax assets(net)	248	304	321		Current liabilities
Income tax assets(net)	99	226	164		Financial liabilities
Other non-current assets	146	210	135		Lease liabilities	321	461	501
Total of Non-current assets	6,315	9,012	9,987		Trade Payables
					Dues of micro enterprises and small enterprises	45	80	53
Current assets
Inventories	895	635	845
					Dues of creditors other than micro enterprises and small enterprises	3,016	2,379	2,444
Financial assets
Investments	1,123	1,235	748
Trade receivables	5,007	4,993	5,509		Other financial liabilities	1,410	1,066	695
Cash and cash equivalents	1,335	643	722		Provisions	29	36	37
					Other current liabilities	315	296	153
Bank balances other than above	610	774	882
					Income tax liabilities (net)	-
Other financial assets	41	276	67
					Total of Current liabilities	5,137	4,318	3,883
Other current assets	792	989	943
Total of Current assets	9,803	9,545	9,715		Total Liabilities	6,273	5,996	5,727
Total Assets	16,118	18,557	19,702		Total Equity & Liabilities	16,118	18,557	19,702

Historical Consolidated Cash Flow Statement

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(All figures in INR Mn)	FY21	FY22	H1-FY23		(All figures in INR Mn)	FY21	FY22	H1-FY23	28
Cash flow from operating activities:					Cash flow from investingactivities
Profit before tax	2,378	3,014	1,900
					Proceeds from sale of property, plant and equipment	49	7	9
Adjustments to reconcile profit before tax to net cash flow:
Depreciation and amortisation on Property, plant and equipment and Intangible asset	413	581	434		Purchase of property, plant and equipment, Intangible assets (including CWIP and capital advances)	(551)	(2,840)	(1,326)
Depreciation on Right-of-use assets	221	338	205
Unrealised foreign exchange (gain) / loss	(3)	(1)	3		Purchase consideration paid on acquisition of business	-	-	-
Lease rent concession	(20)	(2)	(2)
					Investment in mutual funds	(3,356)	(8,304)	(4,694)
Impairment allowance for bad and doubtful receivables and deposits	206	595	432
					Proceeds from redemption of mutual funds	2,812	8,217	5,192
Advances written off	-	-	-
					Loan given to Others	-	(144)	-
Bad debts written off	223	204	6
					Investment in deposits with banks	(2,522)	(844)	(331)
Debit balance written off	1	21	-
(Profit)on disposal ofproperty, plant and equipment(net)	(1)	(5)	(9)		Proceeds from maturity of deposits with banks (including interest)	2,075	646	325
Sundry balances writtenback	(53)	(8)	(5)
Impairment for doubtful claims receivables	-	8	4		Net cash flow (used in) / from investing activities	(1,493)	(3,262)	(825)
Bad debts written back	-	14	-
Insurance claims receivables written off	1	-	6
Finance income	(53)	(33)	(27)
					Cash flows from financingactivities
Profit on sale of current investments	(8)	(20)	(6)
					Proceeds from Issue of Equity Shares	-	637	114
Net change in fair value of current investments measured at FVTPL	(4)	(4)	(4)
					Dividend paid	(363)	(226)	(154)
Employee stock option compensation cost	19	61	46		Finance costs	(9)	(0)	(0)
Finance costs	82	144	95
					Finance costs on lease liability	(73)	(144)	(95)
Operating profit before workingcapital changes	3,402	4,907	3,078
Movement in working capital					Payment of principal portion of lease liabilities	(172)	(262)	(162)
Increase / (Decrease) in trade payables and other liabilities	282	(421)	(412)
					Net cash flow (used in) financing activities	(617)	5	(297)
Increase / (Decrease) in provisions	1	21	15
(Increase) in inventories	(464)	265	(210)
(Increase) in trade receivables	(950)	(724)	(954)		Net (decrease) / increase in cash and cash equivalents	(256)	(692)	78
(Increase) / Decrease in other assets and prepayments	152	(507)	123
					Cash and cash equivalents at the beginning of the year	1,591	1,335	643
Cash flowgenerated from operations	2,423	3,541	1,640
Direct taxes paid (net of refunds)	(569)	(976)	(440)		Cash and cash equivalents at the end of the year	1,335	643	722
Netcash flow fromoperatingactivities	1,854	2,565	1,200

Strong Growth Track Record And Resilience During Covid-19 Period

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Revenue EBITDA PAT [(1)]
(INR Mn) (INR Mn) (INR Mn)
15,987
413 2,240
13,832 3,997
13,061
434
11,462 459 4,896
1,685
1,972 584 3,622 3,641 9,250177 2,539 2,936 2,582 1,347 1,415
3,018 1,980 961 14.02% 15.21%
27.91% 12.75%
25.14%
10,588 22.48%
8,906 9,776 8,961 17.27% 18.36% 8.30% 9.70%
6,055
FY19 FY20 FY21 FY22 H1-FY23 FY19 FY20 FY21 FY22 H1-FY23 FY19 FY20 FY21 FY22 H1-FY23
Cash Mgmt. Services Managed Services Others
Net Cash Flow From Operating [(2)] Net Worth Return On Equity
(INR Mn) (INR Mn)
13,975
2,565
12,561 20.0%
2,142 18.4%
16.9%
1,854 9,845
8,504
12.9%
7,459
1,200
1,018
FY19 FY20 FY21 FY22 H1-FY23 FY19 FY20 FY21 FY22 H1-FY23 FY19 FY20 FY21 FY22
36% CAGR (FY19-22)
12% CAGR (FY19-22)
19% CAGR (FY19-22)
26% CAGR (FY19-22) 33% CAGR (FY19-22)
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(1) PAT margin has been calculated as PAT / Total income (Revenue from operations + Other income) (2) Higher inventory of ATM equipment (due to more orders in hand & Covid-19 induced delay in installations) resulted in lower cash flow in FY21

29

Capital Market Information (BSE - CMSINFO | 543441, NSE – CMSINFO)

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Share Price Movement (Up to 30 [th] September, 2022)
35%
25%
15%
5%
-5%
-15%
-25%
31-Dec-21 31-Jan-22 28-Feb-22 31-Mar-22 30-Apr-22 31-May-22 30-Jun-22 31-Jul-22 31-Aug-22 30-Sep-22
CMS BSE Sensex BSE Small Cap
Share Price Data Shareholding Pattern (30 [th] September, 2022)
(As on 30 [th] September, 2022)
Face value (INR) 10.0 Mutual Funds 9.8%
Market Price (INR) 269.95 AIF 1.8%
Promoters
63.0%
52 Week H/L (INR) 317.9/212.55 (Barings Private FII 10.6%
Equity Asia)
Insurance Companies 0.5%
Market Cap (INR Mn) 41,590
Others 14.3%
Equity Shares Outstanding (Mn) 154.06
Avg. trading volume (‘000) 200.61
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30

Disclaimer

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CMS Info Systems Limited Disclaimer:

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 after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of CMS Info Systems Limited (CMS), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forwardlooking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.

This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

For further details, please feel free to contact our Investor Relations Representatives:

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Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903-9500 Email: cms@valoremadvisors.com

31

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THANK YOU

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