CMS Info Systems Limited has announced its quarterly financial results for Q3FY26, reporting consolidated revenue of ₹618 Cr with a 2% quarter-on-quarter growth. The Board of Directors, meeting on February 12, 2026, approved the unaudited financial results pursuant to Regulation 33 of SEBI Listing Regulations and declared an interim dividend of ₹2.75 per equity share.

Financial Performance Overview

The company's consolidated financial performance for Q3FY26 demonstrates steady growth across key metrics:

Segment-wise Performance

The company's business segments showed mixed performance during the quarter:

The Managed Services & Technology Solutions segment, including Card Services, demonstrated strong growth with 9% quarter-on-quarter revenue increase, while Cash Logistics segment revenue declined by 3% but showed improved profitability with 7% EBIT growth.

Major Business Developments

CMS Info Systems secured significant new business during the quarter, including a major contract win with State Bank of India worth ₹1,000 Cr over 10 years, providing incremental revenue of ₹500 Cr. The company's ICICI Bank and India Post key orderbook deals are now 75% live, indicating strong execution capabilities.

The company's Enterprise HAWKAI solution is now operational at a leading PSU bank, deploying 16 advanced AI use cases. Additionally, CMS signed a term sheet for business transfer with a leading Managed Services Provider, with an estimated deal value of ₹100-125 Cr.

Dividend Declaration and Corporate Actions

The Board declared an interim dividend of ₹2.75 per equity share of face value ₹10 each, representing 27.50% of the face value. The record date has been fixed as February 18, 2026, with dividend payment scheduled on or before March 14, 2026.

Earnings Conference Call Recording

Following the results announcement, CMS Info Systems conducted an earnings conference call on February 13, 2026, at 12:00 Noon (IST) to discuss the quarterly and nine months financial results ended December 31, 2025. The company has made the audio recording of this conference call available on its website for stakeholders and investors.

Exceptional Items and Outlook

The quarter included exceptional items of ₹111.07 Cr related to new Labour Code implementation, resulting in one-time wage code impact of ₹11 Cr. Executive Vice Chairman & CEO Rajiv Kaul commented that the company has made one-time investments in new delivery models to increase network productivity and drive profitable growth, expressing confidence in reaching the FY27 revenue goal of ₹2,800 Cr.

CMS Info Systems Limited has released its fourth edition consumption trends report, revealing the continued resilience of cash usage across India's consumption ecosystem in CY'25. The comprehensive report, titled 'India's Consumption Story CY'25 - CMS Consumption Report', demonstrates how Indian consumers have adapted their spending patterns amid macro headwinds and GST reforms while maintaining strong cash-based transactions.

Cash Usage Remains Structurally Embedded

The report highlights that cash usage continues to play a fundamental role in India's consumption patterns. Average cash dispensed per ATM reached ₹1.21 Cr in CY'25, with notable seasonal variations throughout the year. The festive period drove peak usage, with November 2025 recording the year's highest monthly average of ₹1.30 Cr.

SURU Markets Lead Cash Withdrawal Activity

Semi-urban and rural areas (SURU) demonstrated the strongest cash withdrawal patterns, maintaining their leadership in ATM cash withdrawals with an annual average of ₹1.30 Cr. This significantly outpaced metro cities at ₹1.18 Cr and urban areas at ₹1.11 Cr, indicating robust consumption activity beyond major metropolitan centers.

The data reflects a broader structural shift in India's consumption landscape, with rural monthly per capita consumption expenditure growing 164% over the past decade, outpacing urban growth of 146%. This trend underscores the expanding base for India's consumption-led growth story.

Sectoral Performance Driven by Policy Reforms

The report reveals significant variations in sectoral consumption growth, with clear winners emerging from GST 2.0 reforms and festive demand patterns.

Strong Growth Sectors

Insurance emerged as the standout performer with 32% growth, driven primarily by GST 2.0 reforms that exempted life and health premiums. The sector witnessed a sharp seasonal spike of 49% year-on-year in October 2025, coinciding with the first full month impact of the policy changes.

Organised retail chains experienced robust 22% growth, benefiting from policy-led price reductions on mass-market products including personal care items, dairy products, kitchen staples, and snacks. The sector recorded a 16% year-on-year spike in October 2025, reflecting strong festive season performance.

Declining Sectors

Several sectors faced headwinds, with e-commerce and railways both declining 20% year-on-year. Media & entertainment dropped 15%, reflecting structural shifts in viewer habits toward digital platforms. The decline in e-commerce spending was attributed to the rise of quick commerce and a pronounced shift back to offline retail experiences.

Consumption Wallet Distribution

The report provides insights into how Indians allocate their ₹100 consumption spend across key expenditure categories. Travel dominates with ₹37, followed by insurance at ₹25, highlighting the importance of mobility and protection in household budgets. FMCG accounts for ₹10, consumer durables ₹8, and organised retail chains ₹6 of every ₹100 spent.

Seasonal and Regional Patterns

Cash dispensation patterns showed clear seasonality, with the lowest point reached in June 2025 at ₹1.12 Cr per ATM, coinciding with post-financial year adjustments and monsoon-related mobility constraints. The recovery began in September, accelerating through the festive season and GST reform implementation.

According to Chief Business Officer Anush Raghavan, the data captures the underlying resilience of Indian consumers who are rebalancing priorities rather than cutting back, with spending becoming more deliberate and focused on value, protection, and utility.