{"id":161105,"date":"2024-05-14T07:05:47","date_gmt":"2024-05-14T11:05:47","guid":{"rendered":"https:\/\/44.250.171.167\/?p=161105"},"modified":"2024-05-14T07:05:56","modified_gmt":"2024-05-14T11:05:56","slug":"ce-info-systems-ltd-q4-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ce-info-systems-ltd-q4-fy24-earnings-conference-call-insights\/","title":{"rendered":"CE Info Systems Ltd Q4 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from CE Info Systems Ltd (MAPMYINDIA) Q4 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Financial Performance<\/strong>\n<ul>\n<li>Revenue from operations grew 35% to INR379.4 crores.<\/li>\n<li>Open order book grew 49% to INR1,372 crores.<\/li>\n<li>Annual new order bookings grew 63% to INR834 crores.<\/li>\n<li>Revenue from operations CAGR of 38% over three years.<\/li>\n<li>Quarterly revenue from operations crossed INR100 crores for the first time.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Segments Performance<\/strong>\n<ul>\n<li>IoT-led business revenue grew 91% to cross INR112 crores.<\/li>\n<li>IoT-led business EBITDA grew 13x to INR13 crores.<\/li>\n<li>IoT-led business EBITDA margin expanded from 1.7% in FY23 to 11.6% in FY24.<\/li>\n<li>Consumer tech and enterprise digital transformation revenue up 49% to INR194 crores.<\/li>\n<li>Automotive and mobility tech revenue up 23% to INR186 crores.<\/li>\n<li>5 plus million new vehicles built with MapmyIndia solutions, up from 1.9 million in FY23.<\/li>\n<li>IoT devices installed grew 52% to 2.9 plus lakh units.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Growth Drivers<\/strong>\n<ul>\n<li>Increasing adoption of mapping and IoT solutions across industries.<\/li>\n<li>Growing demand from automotive and mobility sectors, including EVs.<\/li>\n<li>Expanding consumer user base (20 plus million app downloads).<\/li>\n<li>Strong order book and new order bookings<\/li>\n<\/ul>\n<\/li>\n<li><strong>Strategic Focus<\/strong>\n<ul>\n<li>Continuous innovation in products and solutions (apps, IoT, drones, digital twins, software).<\/li>\n<li>Integration of acquired companies (G2P merger completed).<\/li>\n<li>Prudent marketing efforts to drive consumer business.<\/li>\n<li>Target of crossing INR1,000 crore revenue by FY27\/FY28.<\/li>\n<\/ul>\n<\/li>\n<li><strong>IoT Business<\/strong>\n<ul>\n<li>IoT business saw strong growth of 91% in revenue, crossing INR112 crores.<\/li>\n<li>EBITDA for IoT business grew 13x to INR13 crores.<\/li>\n<li>EBITDA margin for IoT business expanded from 1.7% in FY23 to 11.6% in FY24, reaching 17.5% in Q4 FY24.<\/li>\n<li>Growth driven by increasing device sales and subsequent SaaS revenue.<\/li>\n<li>Margins expected to further improve as more sold devices generate SaaS income.<\/li>\n<li>Uniqueness of combining map-led and IoT-led business models seen as an advantage<\/li>\n<\/ul>\n<\/li>\n<li><strong>Map-led Business<\/strong>\n<ul>\n<li>Grew around 20% in FY24.<\/li>\n<li>Significant boost expected from the INR400 crore 5-year contract with Yundey Kiya, starting from Q2 FY25.<\/li>\n<li>Maintained around INR66 crores per quarter revenue in FY24.<\/li>\n<li>INR400 crore contract included in the new order bookings of INR834 crores for FY24.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Key Partnerships<\/strong>\n<ul>\n<li>Partnership with Boat for smartwatch, offering navigation experience using MapmyIndia&#8217;s SDK and APIs.<\/li>\n<li>Revenue model based on per-device licensing.<\/li>\n<li>Part of the consumer tech and enterprise digital transformation segment.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Order Book Dynamics<\/strong>\n<ul>\n<li>Open order book grew 49% to INR1,372 crores.<\/li>\n<li>Order timelines remain broadly similar to previous years.<\/li>\n<li>Fixed-price order book grew by 7% YoY, while volume-based orders also contribute to revenue.<\/li>\n<li>Company focused on maximizing revenue based on customer preferences.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Consumer Business<\/strong>\n<ul>\n<li>MapmyIndia crossed 20 million user downloads for Maplets app in Q4 FY24.<\/li>\n<li>Focus on monetizing the consumer app in FY25.<\/li>\n<li>Secured contract from Cadbury for B2B and B2C side during Diwali period.<\/li>\n<\/ul>\n<\/li>\n<li><strong>International Expansion<\/strong>\n<ul>\n<li>Efforts on track, expecting developments in FY25.<\/li>\n<li>Currently focused more on map-led and automotive-led expansion.<\/li>\n<li>Mode includes leveraging maps, customer base, and technology built over 25 years.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Government Business<\/strong>\n<ul>\n<li>Addressable market estimated at INR1 lakh crore by 2030 as per government.<\/li>\n<li>MapmyIndia&#8217;s approach is through products and platforms, not pure services.<\/li>\n<li>Focus on licensing IP rather than one-time service revenue.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Inorganic Growth<\/strong>\n<ul>\n<li>No immediate plans for acquisitions in digital twin space.<\/li>\n<li>Developing own technology organically, leveraging map data, platforms, and solutions.<\/li>\n<li>Claim to be far more advanced than competitors in this space.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Technical Service Outsourcing<\/strong>\n<ul>\n<li>Cost increased from INR3 crores to INR8.5 crores in Q4 FY24.<\/li>\n<li>Outsourcing costs expected to increase as business grows.<\/li>\n<li>Not related to map updation, part of delivering solutions to customers.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Drone Business<\/strong>\n<ul>\n<li>Drones are part of MapmyIndia&#8217;s integrated offerings.<\/li>\n<li>Providing drone-based services as part of overall solutions.<\/li>\n<li>Building capabilities in hardware, software, and digital twin for drones.<\/li>\n<li>Not yet separating drone-led business revenue, currently part of map-led segment.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from CE Info Systems Ltd (MAPMYINDIA) Q4 FY24 Earnings Concall Financial Performance Revenue from operations grew 35% to INR379.4 crores. Open order book grew 49% to INR1,372 crores. Annual new order bookings grew 63% to INR834 crores. Revenue from operations CAGR of 38% over three years. Quarterly revenue from operations crossed INR100 crores [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,8],"tags":[13698,10169,12198,12195],"class_list":["post-161105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-technology-stocks","tag-digital-maps","tag-earnings","tag-iot","tag-mapping"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":170933,"url":"https:\/\/alphastreet.com\/india\/ce-info-systems-q1-fy26-earnings-results\/","url_meta":{"origin":161105,"position":0},"title":"CE Info Systems Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"September 4, 2025","format":false,"excerpt":"C E Info Systems Limited (\u201cMapmyIndia\u201d) was incorporated on February 17, 1995. 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