CMS Info Systems Limited (CMSINFO.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+205.1%

₹652.01

vs ₹213.73 price

Levered DCF

₹315.51

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	14.4×	21.16×	17.51×	14.34×	17.58×	20.91×	26.18×	36.65×
P/B	1.8×	3.54×	3.12×	2.73×	3.14×	3.58×	4.15×	4.73×
P/S	1.76×	3.31×	2.68×	2.23×	2.48×	2.7×	2.55×	3.08×
EV / EBITDA	7.01×	12.49×	9.63×	7.91×	10.11×	11.37×	13.33×	16.52×
Gross margin	68.3%	46.5%	66.2%	70.8%	68.3%	66.0%	84.5%	90.0%
Operating margin	15.6%	19.5%	20.2%	21.5%	19.5%	17.6%	67.0%	71.2%
Net margin	12.2%	15.4%	15.3%	15.5%	14.1%	12.9%	9.7%	8.4%
Current ratio	2.56×	2.62×	2.93×	2.96×	2.21×	1.91×	2.05×	2.28×
Debt / equity	0.09×	0.08×	0.09×	0.13×	0.15×	0.13×	0.1×	0.11×
Interest coverage	19.94×	26.02×	28.23×	20.95×	21.58×	27.96×	126.66×	109.54×
Dividend yield	3.4%	1.3%	1.9%	0.4%	0.6%	1.0%	0.9%	0.8%
Payout ratio	48.8%	28.5%	32.7%	5.2%	10.1%	21.5%	23.8%	29.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.5%	16.4%	17.8%	19.0%	17.8%	17.1%	15.8%	12.9%
Return on invested capital	10.8%	14.2%	15.8%	17.0%	15.7%	14.4%	66.9%	61.8%
Return on assets	9.4%	11.9%	13.1%	14.1%	12.1%	10.5%	10.1%	8.8%
Free cash flow yield	0.1%	4.1%	5.5%	5.0%	-0.7%	3.7%	3.7%	2.0%
Earnings yield	6.9%	4.6%	5.7%	7.0%	5.7%	4.8%	3.8%	2.7%
Enterprise value	₹44.3B	₹79.3B	₹61B	₹43.7B	₹40.7B	₹35.2B	₹34.5B	₹34.9B
Net debt / EBITDA	0.11×	-0.17×	0.03×	0.19×	0.32×	-0.02×	-0.28×	-0.18×
Cash conversion cycle (days)	21	47	95	-10	134	-38	12	212