(20 second reading) Cash management services company CMS Info Systems is planning to diversifying into gold logistics and collection of retail loan repayments.
The company that reported more than Rs 2,000 crore of revenue in fiscal 2023 has already piloted bullion logistics and debt collections — and is soon expected to launch the businesses commercially. CMS, which posted more than 20% expansion in revenue over the last three years, is eyeing incremental growth from the new businesses.
Bullion is a large and growing sector in India. For the pilot in bullion logistics, the company has worked with 35-40 clients, including Hindustan Zinc, Muthoot FinCorp, Kalyan Jewelers and MMTC Pamp. It is registered with MCX for bullion warehouse services.