CMS Info Systems reported Q3 FY26 consolidated revenue of INR 618 Cr (+1.6% QoQ) and EBITDA of INR 158 Cr (+9% QoQ), with margins expanding 160 bps to 25.5%. Normalized PBT grew. The company secured a large SBI cash RFP (INR 500 Cr incremental revenue over 10 years, rolling out Q4) and INR 1,600 Cr+ in YTD order wins, driving FY26 capex. Management believes Q3 was a bottoming out period, forecasting FY27 revenue of INR 2,800-2,900 Cr and EBITDA margins of 25-26%. Strategic M&A, including two recent acquisitions, is active, with INR 600 Cr cash on books. Retail growth is returning, and the ATM order pipeline for FY27 is improving.