CMS Info Systems Limited — Investor Presentation 2022

May 10, 2022

May 10, 2022

==> picture [176 x 38] intentionally omitted <==

CMSINFO/2205/006

To BSE Limited Listing Department, 1st Floor, PJ Towers, Dalal Street, Fort, Mumbai – 400 001

Scrip Code: 543441

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

Symbol: CMSINFO

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

Dear Sir/Madam,

Pursuant to Regulation 30 of Listing Regulations, please find attached Investor Presentation on Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2022.

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

Thanking You,

Yours faithfully,

For CMS Info Systems Limited

==> picture [42 x 27] intentionally omitted <==

CS Praveen Soni

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

Encl: a/a

CMS Info Systems Limited |CIN: L45200MH2008PLC180479 | www.cms.com | E: contact@cms.com

1

==> picture [356 x 199] intentionally omitted <==

==> picture [356 x 188] intentionally omitted <==

==> picture [356 x 156] intentionally omitted <==

COMPANY OVERVIEW

==> picture [186 x 39] intentionally omitted <==

Leading B2B Outsourcing Company Catering To BFSI & Retail Sector

==> picture [186 x 39] intentionally omitted <==

==> picture [229 x 94] intentionally omitted <==

==> picture [223 x 94] intentionally omitted <==

==> picture [227 x 95] intentionally omitted <==

==> picture [227 x 95] intentionally omitted <==

==> picture [903 x 48] intentionally omitted <==

----- Start of picture text -----

Banking Automation
Cash Logistics Managed IT Services Technology Solutions
Solutions
----- End of picture text -----

Only Integrated Banking Solutions provider with end-to-end offerings

Largest Cash Management company in India

PAN India Footprint; 15K+ Pin codes covered

Servicing leading Highly qualified and banks like SBI, HDFC, experienced management ICICI & Axis supported by diverse board

INR 11.2 Tn Cash handled in FY22 150,000+ Servicing Business Points

4,000+ Cash Vans

25.14% FY22 EBITDA Margin 33% FY19-22 PAT CAGR INR 2,780 Mn FY22 Cash[(1)]

23.6% FY22 ROCE Zero Debt Company for 4 years with AA credit rating 0.55x FY22 OCF / EBITDA

3

(1) Cash & Investments is inclusive of Cash & Cash Equivalents, Bank balance & Investments

Offering End-to-end One Stop Solutions

==> picture [186 x 39] intentionally omitted <==

==> picture [592 x 56] intentionally omitted <==

----- Start of picture text -----

Banking
Automation/
Key Business Verticals
Product
Deployment
----- End of picture text -----

Financial Highlights

==> picture [903 x 402] intentionally omitted <==

----- Start of picture text -----

Deployment (INR Mn)
Cash Management
• End-to-end ATM replenishment – inclusive of cash withdrawal, ATM replenishment, cash 15,897
13,832
evacuation and deposition for BNA/recyclers, day-end reporting, reconciliation and 13,061 25.14%
11,462
settlement
22.48%
• Cash pick up and delivery from retail outlets and enabling settlement with retailers’ banks 18.36%
17.27%
• Currency movement inter/intra city for Banks 3,997
1,980 2,539 2,936
Managed Services FY19 FY20 FY21 FY22
Operational Revenue EBITDA
• Sales, deployment, and maintenance of ATMs EBITDA Margin
•
Brown label ATM Deployment
•
Managed Services for bank owned ATM networks Business Mix FY22
•
Management and personalization of cards
Cash
Management
Tech Solutions 69%
• Software solutions
Managed
• AI based Remote Monitoring Servcies &
Others [(1)]
31%
----- End of picture text -----

4

(1) Managed services revenue comprises of Managed services, Cards (other business) and Tech solutions revenues

CMS’ Presence Across The Cash Value Chain

==> picture [186 x 39] intentionally omitted <==

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

==> picture [912 x 429] intentionally omitted <==

----- Start of picture text -----

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
----- End of picture text -----

5

CMS’ Journey: Strengthened The Core And Expanded TAM

==> picture [186 x 39] intentionally omitted <==

==> picture [29 x 186] intentionally omitted <==

==> picture [21 x 21] intentionally omitted <==

==> picture [24 x 24] intentionally omitted <==

==> picture [23 x 22] intentionally omitted <==

2010 - 2014 2015 - 2020 2021 Market leadership in Cash Expansion into adjacencies Scale with higher growth Management Remote Monitoring Financial Services Distribution/collection

==> picture [24 x 24] intentionally omitted <==

Brown Label ATMs Banking Automation Sales & Software Solutions Service

==> picture [24 x 24] intentionally omitted <==

==> picture [24 x 24] intentionally omitted <==

ATM Cash Management Retail Cash Management & CIT Banking Automation Sales & Service

==> picture [92 x 72] intentionally omitted <==

----- Start of picture text -----

Key
updates
----- End of picture text -----

==> picture [92 x 79] intentionally omitted <==

----- Start of picture text -----

Market
backdrop
----- End of picture text -----

• 2009 : Blackstone FP Capital Partners ▪ 2015 : Asia’s largest private equity (Mauritius) V acquired 56.67% firm, Baring Private Equity acquired

• shareholding of our company 100% stake in CMS

• 2011 : Acquired Securitrans India Pvt. ▪ 2017: Acquired BLA business Ltd. ▪ 2020: Acquired Logicash

• ATM base ~70K in 2010 ▪ Demonetization, bank NPA issues

• ▪ NPCI takes over ATM switching ▪ PSU bank mergers ▪ COVID-19

• 2021 : IPO of INR 11 Bn; Listed on NSE & BSE

• 2021 : Acquired Remote Monitoring Tech company

• RBI increases ATM interchange fee (INR 15 to INR 17 per transaction)

• Strong RBI compliance guidelines for currency operations across ATM, retail and CIT

6

Cash Management Business Managed Services Business

New Adjacencies

Highly Qualified Management With A Diverse Board And Strong Governance

==> picture [186 x 39] intentionally omitted <==

==> picture [103 x 222] intentionally omitted <==

----- Start of picture text -----

Experienced
Directors
----- End of picture text -----

==> picture [103 x 217] intentionally omitted <==

----- Start of picture text -----

Strong
Management
With Deep
Industry
Know-How
----- End of picture text -----

==> picture [834 x 330] intentionally omitted <==

----- Start of picture text -----

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
----- End of picture text -----

Anush Raghavan President – Cash Management Business 14+ years of industry experience

==> picture [80 x 81] intentionally omitted <==

==> picture [80 x 81] intentionally omitted <==

==> picture [80 x 80] intentionally omitted <==

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

==> picture [45 x 28] intentionally omitted <==

==> picture [54 x 22] intentionally omitted <==

==> picture [27 x 26] intentionally omitted <==

==> picture [26 x 26] intentionally omitted <==

==> picture [34 x 19] intentionally omitted <==

==> picture [49 x 19] intentionally omitted <==

==> picture [25 x 25] intentionally omitted <==

==> picture [45 x 13] intentionally omitted <==

==> picture [65 x 13] intentionally omitted <==

7

Leader In Cash Management Services In India

==> picture [186 x 39] intentionally omitted <==

ATM Cash Management

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

==> picture [138 x 12] intentionally omitted <==

----- Start of picture text -----

46% market share [(1)]
----- End of picture text -----

36% market share[(1)]

26% market share[(1)]

==> picture [149 x 106] intentionally omitted <==

==> picture [659 x 330] intentionally omitted <==

----- Start of picture text -----

36% market share [(1)] 26% market share [(1)]
Cash Management EBIT & EBIT Margin
(INR Mn)
11,108
2,654
9,094 2,040
1,666
1,403
22.4% 23.9%
17.0%
15.8%
FY21 FY22 FY19 FY20 FY21 FY22
EBIT EBIT Margin
----- End of picture text -----

==> picture [197 x 13] intentionally omitted <==

----- Start of picture text -----

Cash Management Revenue
----- End of picture text -----

==> picture [338 x 160] intentionally omitted <==

----- Start of picture text -----

(INR Mn)
11,108
9,776
9,094
8,906
FY19 FY20 FY21 FY22
----- End of picture text -----

8

(1) As per company estimates

Route Based Logistics With Extensive Distribution Across India

==> picture [186 x 39] intentionally omitted <==

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

Cash Management Operations Cycle

96% coverage pan-India including remote areas[(3)]

==> picture [892 x 379] intentionally omitted <==

----- Start of picture text -----

Cash 3 15K+
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
----- End of picture text -----

(1) For FY21 (2) As of 31st March, 2021, on the basis of total number of ATM points (3) For FY21, on the basis of districts covered

9

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

==> picture [186 x 39] intentionally omitted <==

==> picture [453 x 446] intentionally omitted <==

----- Start of picture text -----

Banking Automation Brown Label ATMs and
Solutions Managed Services (BLA + MS)
Managed Services Revenue
(INR Mn)
4,896
3,622 3,641
1,972
FY19 FY20 FY21 FY22
----- End of picture text -----

AI based Remote Software Solutions Monitoring

==> picture [219 x 152] intentionally omitted <==

==> picture [221 x 152] intentionally omitted <==

==> picture [402 x 234] intentionally omitted <==

----- Start of picture text -----

Managed Services EBIT & EBIT Margin
(INR Mn)
810
635
17.8% 547
17.5%
15.0% 16.5%
351
FY19 FY20 FY21 FY22
EBIT EBIT Margin
----- End of picture text -----

10

The CMS Edge

==> picture [186 x 39] intentionally omitted <==

==> picture [52 x 52] intentionally omitted <==

==> picture [113 x 62] intentionally omitted <==

==> picture [52 x 52] intentionally omitted <==

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

11

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

==> picture [186 x 39] intentionally omitted <==

==> picture [923 x 449] intentionally omitted <==

----- Start of picture text -----

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
----- End of picture text -----

Source: Outlookworld, FIS Global, RBI, SDG, Niti Aayog, Frost & Sullivan (1) SURU: Semi-Urban and Rural

12

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

==> picture [186 x 39] intentionally omitted <==

….Leading To higher cash withdrawal transactions

Consistent growth in Cash in Circulation…

==> picture [415 x 161] intentionally omitted <==

----- Start of picture text -----

(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
----- End of picture text -----

==> picture [442 x 430] intentionally omitted <==

----- Start of picture text -----

(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 FY22E 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
----- End of picture text -----

==> picture [118 x 17] intentionally omitted <==

To gain more insights on Cash Transactions, click on CMS Cash Index logo:

… and Debit card transactions to grow at 9% CAGR

==> picture [411 x 174] intentionally omitted <==

----- Start of picture text -----

(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
----- End of picture text -----

Sources: Frost & Sullivan As of Aug ’21; RBI; CRISIL

13

Growth In Retail Market Size And Shift To Organized Retail To Drive RCM[(1)] Growth

==> picture [186 x 39] intentionally omitted <==

Share of organized retail in India one of the lowest

Accelerated Retail Market Size Growth Expected

==> picture [837 x 159] intentionally omitted <==

----- Start of picture text -----

85% (INR Bn)
1,750
55%
40% 1,200
30%
20%
672
7% 490
US Malaysia Thailand Indonesia China India
FY13 FY17 FY21E FY26E
8% CAGR
----- End of picture text -----

Organized retail is expected to grow rapidly at 20-25% p.a. in India…

… and Cash is expected to remain the predominant mode of payment…

… Resulting in massive growth in RCM market size

==> picture [558 x 178] intentionally omitted <==

----- Start of picture text -----

India
Retail 7% Payment methods in the economy (FY25)
20%
Market 18% Credit
Card
Debit 10%
30%
Card
6%
75%
UPI +
50% Wallet Cash
17%
60%
FY 21 FY 25 Bank
note
Unorganized Organized 7%
----- End of picture text -----

==> picture [238 x 184] intentionally omitted <==

----- Start of picture text -----

of Retail FY21 FY2
Touchpoints in
7
India (in 000s)
4,000
Addressable
Retail Touch 3,000
Points
780
Organized
Retail Touch
Points
490
Retail Points
Using Cash 210
110
Management
1.9x
1.6x
1.3x
----- End of picture text -----

14

Sources: IBEF, RBI, Frost & Sullivan, Secondary Sources (1) Retail Cash Management

Outsourced ATM And Retail Cash Management To Grow At 10%+ CAGR

==> picture [186 x 39] intentionally omitted <==

==> picture [940 x 426] intentionally omitted <==

----- Start of picture text -----

Outsourced ATMs are expected to grow at a 10% Outsourced organized retail points are expected to grow
CAGR at a 12% CAGR
# of ATMs in India
# of retail points in India
Cumulative
~6% ~365K 4 mn
demand of 110K
CAGR
new and ~200K
replacement ~780K
ATMs
~110K
~255k Total
3 mn
addressable
~570K
~490K
~102K
~380K
75% ~255K
~153K 60%
27%
~210K
22%
~110K
FY21 FY27 FY21 FY27
O/S ATMs Non O/S ATMs O/S organised retail points Non-O/S organised retail points
----- End of picture text -----

Sources: RBI, Frost & Sullivan, Secondary Sources, O/S – Outsourced for cash management

15

Significant TAM Opportunity

==> picture [186 x 39] intentionally omitted <==

==> picture [942 x 382] intentionally omitted <==

----- Start of picture text -----

Cash Management ATM Managed Services Remote Monitoring Tech
TAM [(2) ] : INR 79,000 Mn [(1)] by FY27 TAM [(2)] : INR 171,000 Mn [(1)] by FY27 TAM [(2)] : INR 105,000 Mn [(1)] by FY27
(INR Mn) (INR Mn) (INR Mn)
2.5x 17,100
2.9x 78,900 3.7x
105,000
30,000
14,200
2,730
20,400
75,000
1,14,150
6,800
27,700
8,000
2,000 28,000
6,600
44,300
6,800 46,890
20,000
30,000
37,940
14,300
13,790 8,000
FY21 FY27 FY21 FY27 FY21 FY27
ATM Retail CIT Banking Automation BLA & MS
BFSI Non BFSI
Software Solutions Remote Monitoring
----- End of picture text -----

Growing TAM and bank preference for end-to-end outsourcing expected to benefit integrated players

Sources: RBI, Frost & Sullivan, Secondary Sources

(1) The total available market for cash management (ATM cash management, RCM and DCV) product sales (including AMC), ATM managed services (managed serviced ATMs and BLAs), MVS and remote monitoring stood at INR 85,310 Mn in Fiscal Year 2021 and is estimated to reach a size of INR 214,120 Mn in Fiscal Year 2027 because of some overlap between cash management and Managed Services

(2) TAM refers to the Total Addressable Market

16

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

==> picture [186 x 39] intentionally omitted <==

• 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

The CMS Growth Strategy Playbook

==> picture [186 x 39] intentionally omitted <==

4

1

Capitalize on the growing cash cycle

2

Leverage scale and integrated offerings and increase profitability

3

Expand into Value added Banking Solution adjacencies

Grow through selective value accretive acquisitions

==> picture [901 x 87] intentionally omitted <==

18

==> picture [356 x 199] intentionally omitted <==

==> picture [356 x 188] intentionally omitted <==

==> picture [356 x 156] intentionally omitted <==

Q4-FY22 / FY22 FINANCIAL OVERVIEW

==> picture [186 x 39] intentionally omitted <==

Quarterly and Annual Financial Highlights

==> picture [188 x 224] intentionally omitted <==

----- Start of picture text -----

Revenue
(INR Mn)
8%
4,441
4,103 88
108
1,524
1,620
2,829
2,375
Q4-FY21 Q4-FY22
Cash Mgmt. Managed Others
Services Services
----- End of picture text -----

==> picture [184 x 218] intentionally omitted <==

----- Start of picture text -----

EBITDA
(INR Mn)
40% 32%
1,160
881
26.1%
21.5%
Q4-FY21 Q4-FY22
EBITDA EBITDA Margin (%)
----- End of picture text -----

==> picture [458 x 161] intentionally omitted <==

----- Start of picture text -----

22%
15,897 36% 3,997
413
13,061
2,936
459 4,896
3,641 25.1%
22.5%
10,588
8,961
FY21 FY22 FY21 FY22
----- End of picture text -----

FY21 FY22 EBITDA EBITDA Margin (%)

==> picture [20 x 6] intentionally omitted <==

==> picture [186 x 39] intentionally omitted <==

==> picture [155 x 220] intentionally omitted <==

----- Start of picture text -----

PAT
(INR Mn)
14%
640
561
14.4%
13.7%
Q4-FY21 Q4-FY22
PAT PAT Margin (%)
----- End of picture text -----

==> picture [143 x 147] intentionally omitted <==

----- Start of picture text -----

33%
2,240
1,685
14.1%
12.9%
FY21 FY22
----- End of picture text -----

==> picture [21 x 6] intentionally omitted <==

Cash Mgmt. Services Managed Services Others

20

PAT Margin (%)

PAT

Quarterly and Annual Operational Highlights: Cash Management Business

==> picture [186 x 39] intentionally omitted <==

==> picture [314 x 36] intentionally omitted <==

----- Start of picture text -----

Revenue EBIT
INR Mn INR Mn
----- End of picture text -----

Cash Management: Operational Highlights

==> picture [429 x 197] intentionally omitted <==

----- Start of picture text -----

23%
39%
2,988 756
2,434
545
25.2%
22.4%
Q4-FY21 Q4-FY22 Q4-FY21 Q4-FY22
EBIT EBIT %
Q4-FY22
----- End of picture text -----

==> picture [354 x 166] intentionally omitted <==

----- Start of picture text -----

22%
11,108
30%
2,654
9,094
2,040
23.9%
22.4%
FY21 FY22 FY21 FY22
----- End of picture text -----

• –

• Total currency handled at INR 11.2 Tn in FY22 22% growth YoY

• –

• Cash management network 113,000 in Mar’22 vs. 103,000 in Mar’21 – 10% growth

• Compliance at 35% of ATM and RCM points

• Recovery in RCM segments such hospitality, aviation, media & entertainment

• Sustainable margin expansion on the back of network expansion, density and technology/ automation

==> picture [20 x 6] intentionally omitted <==

21

EBIT EBIT %

Quarterly and Annual Operational Highlights: Managed Services Business

==> picture [186 x 39] intentionally omitted <==

==> picture [365 x 238] intentionally omitted <==

----- Start of picture text -----

Revenue EBIT
INR Mn INR Mn
(6)
1,620 % 7%
1,524
263
245
17.3%
15.1%
Q4-FY21 Q4-FY22 Q4-FY21 Q4-FY22
EBIT EBIT %
----- End of picture text -----

Managed Services: Operational Highlights

• 12,000 ATMs in Mar’22 vs. 10,000 in Mar’21 – 20% growth YoY

• MS orderbook expanded to INR 2,200 Cr of which INR 1,500 Cr already live and revenue generating

• SBI BLA bonus order on successful execution of the main order

==> picture [145 x 153] intentionally omitted <==

----- Start of picture text -----

34%
4,896
3,641
FY21 FY22
----- End of picture text -----

==> picture [144 x 138] intentionally omitted <==

----- Start of picture text -----

48%
810
547
16.5%
15.0%
FY21 FY22
----- End of picture text -----

• AI-based remote monitoring ramping up strongly – 10,000 sites in Mar’22; 13,000 sites in pipeline

==> picture [20 x 6] intentionally omitted <==

22

EBIT EBIT %

Quarterly Consolidated Financial Performance

==> picture [186 x 39] intentionally omitted <==

Particulars (All figures in INR Mn)	Q4-FY22	Q3-FY22	Q-o-Q	Q4-FY21	Y-o-Y
Operating Income	4,441	4,037	10.0%	4,103	8.2%
Expenses	3,281	2,986	9.9%	3,222	1.8%
Operating EBITDA	1,160	1,051	10.4%	881	31.7%
Operating EBITDA Margins (%)	26.12%	26.03%	9 Bps	21.47%	465 Bps
Finance costs	43	30	43.3%	29	48.3%
Depreciation and amortisation expense	275	224	22.8%	186	47.8%
Other Income	26	16	62.5%	111	76.6%
Profit before tax	868	813	6.8%	777	11.7%
Tax	228	211	8.1%	216	5.6%
Profit After Tax	640	602	6.3%	561	14.1%
PAT Margins (%)	14.41%	14.91%	(50) Bps	13.67%	74 Bps
Other Comprehensive income for the year	3	1	NA	2	50.0%
Total Comprehensive Income for the year	643	603	6.6%	563	14.2%
Earning per equity share (nominal value of share Rs 10) – Diluted	4.07	3.89	4.6%	3.70	10.0%

23

Annual Consolidated Financial Performance

==> picture [186 x 39] intentionally omitted <==

Particulars (All figures in INR Mn)	FY22	FY21	Y-o-Y
Operating Income	15,897	13,061	21.7%
Expenses	11,900	10,125	17.5%
Operating EBITDA	3,997	2,936	36.1%
Operating EBITDA Margins (%)	25.14%	22.48%	266 Bps
Finance costs	144	82	75.6%
Depreciation and amortisation expense	918	635	44.6%
Other Income	79	158	(50.0)%
Profit before tax	3,014	2,377	26.8%
Tax	774	692	11.8%
Profit After Tax	2,240	1,685	32.9%
PAT Margins (%)	14.09%	12.90%	119 Bps
Other Comprehensive income for the year	4	(1)	NA
Total Comprehensive Income for the year	2,244	1,684	33.2%
Earning per equity share (nominal value of share Rs 10) – Diluted	14.33	11.09	29.2%

24

==> picture [356 x 199] intentionally omitted <==

==> picture [356 x 188] intentionally omitted <==

==> picture [356 x 156] intentionally omitted <==

HISTORICAL FINANCIAL OVERVIEW

==> picture [186 x 39] intentionally omitted <==

Historical Consolidated Income Statement

==> picture [186 x 39] intentionally omitted <==

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

26

Historical Consolidated Balance Sheet

==> picture [186 x 39] intentionally omitted <==

(All figures in INR Mn)	FY19	FY20	FY21	FY22	(All figures in INR Mn)	FY19	FY20	FY21	FY22
Assets					Equity share capital	1,480	1,480	1,480	1,531
Non-current assets					Other equity	5,979	7,024	8,365	11,030
Property, plant and equipment Capital work-in-progress	804 4	1,206 29	1,897 227	3,470 436	Total equity attributable to equity holders	7,459	8,504	9,845	12,561
Right-of-use assets Goodwill Other Intangible assets Intangible assets under development	813 2,034 164 21	839 2,034 183 10	1,211 2,034 190 5	1,800 2,061 173 1	Liabilities Non-current liabilities Financial liabilities Lease liabilities Provisions	599 168	634 191	945 191	1,468 201
Financial assets					Other Liabilities	-	-	-	9
Investments Other financial assets Deferred tax assets (net) Income tax assets (net)	0 280 338 249	0 246 273 197	0 259 248 99	0 331 304 226	Total of Non-current liabilities Current liabilities Financial liabilities Lease liabilities	767 243	825 232	1,136 321	1,678 461
Other non-current assets	58	114	146	210
Total of Non-current assets	4,765	5,131	6,315	9,012	Dues of micro enterprises and small enterprises	11	100	45	80
Current assets
Inventories	416	430	895	635	Dues of creditors other than micro enterprises and	1,616	2,569	3,016	2,379
Financial assets					small enterprises
Investments Trade receivables Cash and cash equivalents	116 3,906 1,220	566 4,486 1,591	1,123 5,007 1,335	1,235 4,993 643	Other financial liabilities Provisions Other current liabilities	594 43 194	613 27 458	1,410 29 315	1,066 36 296
Bank balances other than above	172	314	610	774	Income tax liabilities (net)	-	-	-
Other financial assets	18	28	41	276	Total of Current liabilities	2,701	3,999	5,137	4,318
Other current assets	314	781	792	989	Total Liabilities	3,468	4,823	6,273	5,996
Total of Current assets	6,162	8,197	9,803	9,545	Total Equity & Liabilities	10,927	13,327	16,118	18,557	27
Total Assets	10 927	13 327	16 118	18 557

Historical Consolidated Cash Flow Statement

(All figures in INR Mn)	FY19	FY20	FY21	FY22
Cash flow from operating activities:
Profit before tax	1,499	1,951	2,378	3,014
Adjustments to reconcile profit before tax to net cash flow:
Depreciation and amortisation on Property, plant and equipment and Intangible asset	342	357	413	581
Depreciation on Right-of-use assets	195	208	221	338
Unrealised foreign exchange (gain) / loss	(9)	2	(3)	(1)
Lease rent concession	-	-	(20)	(2)
Impairment allowance for bad and doubtful receivables and deposits	236	134	206	595
Advances written off	-	88	-	-
Bad debts written off	50	387	223	204
Debit balance written off	-	5	1	21
(Profit) on disposal of property, plant and equipment (net)	(4)	(4)	(1)	(5)
Sundry balances written back	(51)	(0)	(53)	(8)
Impairment for doubtful claims receivables	14	34	-	8
Bad debts written back	(3)	-	-	14
Insurance claims receivables written off	-	-	1	-
Financeincome	(14)	(20)	(53)	(33)
Profit on sale of current investments	(31)	(13)	(8)	(20)
Net change in fair value of current investments measured at FVTPL	(2)	(4)	(4)	(4)
Employee stock option compensation cost	43	10	19	61
Finance costs	74	73	82	144
Operating profit before workingcapital changes	2,340	3,208	3,402	4,907
Movement in working capital
Increase in trade payables and other liabilities	352	1,325	282	(421)
Increase / (Decrease)inprovisions	24	(8)	1	21
(Increase) in inventories	(180)	(14)	(464)	265
(Increase) in trade receivables	(910)	(1,101)	(950)	(724)
(Increase) in other assets and prepayments	(8)	(775)	152	(507)
Cash flowgeneratedfromoperations	1,619	2,635	2,423	3,541
Direct taxes paid (net of refunds)	(601)	(493)	(569)	(976)
Net cash flow from operating activities	1,018	2,142	1,854	2,565

==> picture [186 x 39] intentionally omitted <==

(All figures in INR Mn)	FY19	FY20	FY21	FY22
Cash flow from investingactivities
Proceeds from sale of property, plant and equipment	4	4	49	7
Purchase of property, plant and equipment, Intangible assets (including CWIP and capital advances)	(313)	(836)	(551)	(2,840)
Purchase consideration paid on acquisition of business	(391)	-	-	-
Investment in mutual funds	(2,814)	(3,830)	(3,356)	(8,304)
Proceeds from redemption of mutual funds	3,646	3,397	2,812	8,217
Loan given to Others	-	-	-	(144)
Investment in deposits with banks	(129)	(203)	(2,522)	(844)
Proceeds from maturity of deposits with banks (including interest)	58	274	2,075	646
Net cash flow (used in) / from investing activities	62	(1,194)	(1,493)	(3,262)
Cash flows from financingactivities
Proceeds from Issue of Equity Shares	-	-	-	637
Dividend paid	(285)	(321)	(363)	(226)
Finance costs	(4)	(6)	(9)	(0)
Finance costs on lease liability	(69)	(67)	(73)	(144)
Payment of principal portion of lease liabilities	(165)	(182)	(172)	(262)
Net cash flow (used in) financing activities	(524)	(576)	(617)	5
Net (decrease) / increase in cash and cash equivalents	556	371	(256)	(692)
Cash and cash equivalents at the beginning of the year	665	1,220	1,591	1,335
Cash and cash equivalents at the end of the year	1,220	1,591	1,335	28 643

Strong Growth Track Record And Resilience During Covid-19 Period

==> picture [186 x 39] intentionally omitted <==

==> picture [942 x 439] intentionally omitted <==

----- Start of picture text -----

Revenue EBITDA PAT [(1)]
(INR Mn) (INR Mn) (INR Mn)
13,832 15,897413 3,997 2,240
13,061
434
11,462 459 4,896
1,685
584 3,622 3,641 2,936
1,972 2,539 1,347
1,980 25.14% 961 14.02%
22.48% 12.75%
8,906 9,776 8,961 10,588 17.27% 18.36% 9.70%
8.30%
FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22
Cash Mgmt. Services Managed Services Others
Net Cash Flow From Operating [(2)] Net Worth Return On Equity
(INR Mn) (INR Mn)
12,561
2,565
9,845 20.0%
2,142 18.4%
8,504 16.9%
1,854
7,459
12.9%
1,018
FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22
12% CAGR (FY19-22)
36% CAGR (FY19-22) 19% CAGR (FY19-22)
26% CAGR (FY19-22) 33% CAGR (FY19-22)
----- End of picture text -----

(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)

==> picture [186 x 39] intentionally omitted <==

Share Price Movement (Up to 31[st] March, 2022)

==> picture [63 x 137] intentionally omitted <==

----- Start of picture text -----

32%
22%
12%
2%
-8%
-18%
31-Dec-21
----- End of picture text -----

==> picture [903 x 267] intentionally omitted <==

----- Start of picture text -----

|||||
|---|---|---|---|
|31-Dec-21|31-Jan-22|28-Feb-22|31-Mar-22|
|CMS|BSE Sensex|BSE Small Cap|
|Share Price Data|Shareholding Pattern (31|[st]|March, 2022)|
|(As on 31|[st]|March, 2022)|
|Face value (INR)|10.0|Mutual Funds 8.5%|
|AIF 1.6%|
|Market Price (INR)|264.9|
|Promoters|
|63.4%|FII 9.5%|
|52 Week H/L (INR)|317.90/215.0|(Barings Private|
|Insurance Companies 1.0%|
|Equity Asia)|
|Market Cap (INR Mn)|40.556.2|
|Others 16.0%|
|Equity Shares Outstanding (Mn)|153.1|
|Avg. trading volume (‘000)|2,805.5|

----- End of picture text -----

30

Disclaimer

==> picture [186 x 39] intentionally omitted <==

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:

==> picture [83 x 63] intentionally omitted <==

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

31

==> picture [356 x 199] intentionally omitted <==

==> picture [356 x 188] intentionally omitted <==

==> picture [356 x 156] intentionally omitted <==

THANK YOU

==> picture [186 x 39] intentionally omitted <==