AGS Transact Technologies Renews ATM Management Contract

On July 9, 2024, AGS Transact Technologies Limited, a top provider of integrated omni channel payment solutions in India, announced via a stock exchange filing the renewal of its contract with a major private sector bank to manage its ATMs under its Outsourcing Portfolio.

The new agreement features a hybrid fee model, combining transaction-based and fixed fees, projected to generate approximately ₹30 crore annually for AGS Transact Technologies’ Payment Solutions segment. This development highlights the company’s ability to adapt to a rapidly evolving market and reinforces its leadership in the ATM/CRM outsourcing industry.

It also aligns with AGS Transact’s strategic goals of sustainable growth and value creation for stakeholders. As of March 31, 2024, the company is the second-largest Managed Services Provider (MSP) in India, managing 38,418 ATMs and CRMs in its outsourcing portfolio.

Financial Highlights

For the quarter ending in March 2024, AGS Transact Technologies reported net sales of ₹242.70 crore, a decrease of 20.2% from ₹304.14 crore in March 2023. The quarterly net loss was ₹4.93 crore, a 67.9% improvement from a loss of ₹15.37 crore in March 2023. EBITDA was ₹32.32 crore, down 40.09% from ₹53.95 crore in the same quarter the previous year.

About AGS Transact Technologies Limited (AGSTTL)

Founded in 2002, AGS Transact Technologies Limited is among India’s largest providers of integrated omnichannel payment solutions. The company offers both digital and cash-based solutions to banks and corporate clients. The company delivers customised products and services, including ATM and CRM outsourcing, cash management, and digital payment solutions such as merchant services, transaction processing, and mobile wallets.

AGS operates in three main business segments: Payment Solutions, Banking Automation Solutions, and Other Automation Solutions. As of March 31, 2024, the company has deployed 248,585 payment terminals and is one of the largest deployers of PoS terminals at petroleum retail outlets in India, with 41,756 terminals installed at various locations.

On July 9, 2024, AGS Transact Technologies Limited’s share price opened at ₹80.65, touching the day’s high at ₹82.50 as of 12:13 PM on the NSE.

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