₹439, which implies an over 17% upside. CMS had laid out its target of doubling revenue to
₹2500-2700 crore in FY25 from
₹1,300 crore in FY21. At mid-point, this implies an 18.7% CAGR. The company has been tracking ahead of this, having clocked 21% revenue CAGR between FY21 and FY23, bringing down the asking rate to ~17% for FY23-25. Valuations remain attractive, considering a healthy earnings outlook, strong return ratios, and an asset-light business model with
₹470 crore net cash, it said.” title =”CMS Info Systems: IIFL Securities is positive on the stock with a target price of
₹439, which implies an over 17% upside. CMS had laid out its target of doubling revenue to
₹2500-2700 crore in FY25 from
₹1,300 crore in FY21. At mid-point, this implies an 18.7% CAGR. The company has been tracking ahead of this, having clocked 21% revenue CAGR between FY21 and FY23, bringing down the asking rate to ~17% for FY23-25. Valuations remain attractive, considering a healthy earnings outlook, strong return ratios, and an asset-light business model with
₹470 crore net cash, it said.”>
