Excellent write up Ankit! Why does their operating margin vary so much? In FY25 they have reported the lowest operating margins compared to last 7-8 years ( source: screener). Is this due to investment in the new vertical?
I prefer CMS info in this space (disc: holding in family portfolio). They have better margins, return ratios and added some tech driven work (remote monitoring for example) to diversify. Would love to know your view on CMSInfo.
Markets seem to be discounting cash management companies due to eventual near 100% digitization of money. Looking at the data not sure it is going to happen any time in the near future.
Excellent write up Ankit! Why does their operating margin vary so much? In FY25 they have reported the lowest operating margins compared to last 7-8 years ( source: screener). Is this due to investment in the new vertical?
I prefer CMS info in this space (disc: holding in family portfolio). They have better margins, return ratios and added some tech driven work (remote monitoring for example) to diversify. Would love to know your view on CMSInfo.
Markets seem to be discounting cash management companies due to eventual near 100% digitization of money. Looking at the data not sure it is going to happen any time in the near future.