MAM
CMS Info Systems strengthens leadership with 2 key appointments
MUMBAI: CMS Info Systems, India’s largest and world’s fifth largest cash management and payment solutions firm announced two key appointments. Subhash Kelkar comes on board as chief technology officer and Vijay Iyer is elevated to vice president of the cash management business and service delivery head.
Based in Mumbai, Kelkar and Iyer will provide further impetus and direction to developing and expanding the company’s businesses across the country.
Kelkar joins CMS Info Systems from IIFL Group where he managed four of the group’s companies and represented group IT to the IIFL Board. With over 25 years of experience, he has also led the digital transformation at brands such as Club Mahindra, Tech Mahindra and TCS. At CMS, Kelkar will accelerate the company’s digital transformation in addition to managing the Managed Services Technology Projects.
In his new role, Iyer will oversee the operations in the North and Central zones and the process of building CMS as an agile commercial, finance and fleet organisation. Iyer’s appointment will help CMS’ leadership team to move forward to the next phase of growth in the cash management business. Vijay joined CMS in December 2018. He is a CIT industry veteran and has worked at Brinks, Secure Value and AGS.
With a network spanning over 105,000 ATMs and retail outlets, CMS is uniquely positioned as the backbone of the ‘circulation cycle’ of the country's economy. Cash continues to be in strong demand even post demonetisation and demand for cash will continue to grow which has resulted in rising of ATM transaction volumes. Currently, as per April 2019, the economy has again seen an uptrend in currency circulation of Rs 21.42 lakh crore, recording an increase of 17.5 per cent on a Y-o-Y basis.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
