ICRA upgrades CMS Info Systems Ltd

ICRA upgrades the long-term credit rating of CMS Info Systems Limited's (CMS) from AA to AA+. This rating upgrade factors strengthening of CMS's credit profile, as marked by steady revenue growth, improvement in profit margins, comfortable capital structure and strong liquidity position.

Commenting on the rating revision, Mr. Rajiv Kaul - Exec VC & CEO, CMS Info Systems said "The rating upgrade is a reflection of our strong business which has demonstrated resilience in volatile environments and also delivered high growth with strong profitability. Our zero-debt status and healthy internal accrual generation is a significant competitive advantage to build our leadership position and expand into adjacencies."

Credit Strengths:

- Leading player in cash management business
- Long-term relationships with key clients
- Strong financial profile and liquidity position
- Sizeable order book provides revenue visibility in the near to medium term

Shares of CMS Info Systems Limited was last trading in BSE at Rs. 286.15 as compared to the previous close of Rs. 286.20. The total number of shares traded during the day was 7639 in over 439 trades.

The stock hit an intraday high of Rs. 289.95 and intraday low of 280.55. The net turnover during the day was Rs. 2191474.00.

Source : Equity Bulls

Keywords

CMSINFO INE925R01014 CMSInfoSystems RatingUpdate Upgrade