Business Segments - FY26:^[1]
a) Cash Management (60%):^{[2] [3]}
The company is in the business across all major cash management business segments with a market share of 40%+. The segment is divided into:
a) ATM Management Solutions (58% in FY26 vs 59% in FY25):^[4][5][6]
The company offers cash processing, cassette management, ATM replenishment, cash evacuation for banknote accepting/ recycling, day-end reporting, and reconciliation. In March 2026, it announced the acquisition of the ATM Managed Services business of Financial Software and Systems Pvt Ltd for a purchase consideration of up to Rs. 115 Cr. The deal will add around 8,000 ATMs to the managed portfolio, increasing it from about 31,000 to 39,000 machines, and is expected to be completed in Q1 FY27. This business is expected to grow at approximately 11% CAGR through FY30.
b) Retail and Currency Logistics (26% in FY26 vs 29% in FY25):^[4][7]
The company offers an integrated cash management solution through its Retail 360 platform, including cash pick-up and deposit, Cash-X, and retail cash vault services. Its cash-in-transit network enables the secure movement of currency between bank branches and currency chests across cities. The company’s market share in retail cash management has risen to 38% (up 400 bps in 2 years), and the segment is expected to grow at over 11% CAGR through FY30.
c) Technology & Payment Solutions (16% in FY26 vs 12% in FY25):^[4][7]
The company offers Hawkai, a Vision AI surveillance platform that upgrades CCTV
into intelligent monitoring with real-time
analytics, cloud storage, and AI-based threat detection. Its ALGO software enables vendor-agnostic ATM management, product personalization, and secure cash replenishment using AI, GPS, and facial recognition. This business is expected to grow at approximately 20% CAGR through FY30.
In FY26, the company acquired Securens for Rs. 75 Cr; the combined CMS + Securens business became the leading player in BFSI Vision AI with 36% market share.^[8]
b) Managed Services (40%):^[9][10][4]
The company offers Banking automation product deployment and AMC, Brown Label ATMs, and managed services for banks, Software solutions including multi-vendor software and automation solutions, and Remote Monitoring Technology solutions. It is ranked as the Top 3 managed services providers in India. It also offers card personalisation services, issuing and managing over 11 Mn banking cards annually.