Conference Call with C.E. Info Systems Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Internet Software & Services company C.E. Info Systems announced Q4FY24 & FY24 results: Revenue for FY24 was at Rs 379 crore with a healthy growth of 35% YoY. Q4FY24 Revenue crossed the quarterly milestone of Rs 100 crore for the first time and is at an all time high of Rs 107 crore. EBITDA Margins for FY24 was 41% remained above 40% for the full year despite the share of IoT led business increasing to 30% of overall revenue. EBITDA for FY24 grew YoY by 33% to Rs 156 crore. PAT for FY24 grew 25% YoY to Rs 134 crore. PAT margin at 32% was lower than FY23 due to increase in amortization. Cash & cash equivalents continued to grow YoY to Rs 557 crore at the end of FY24. Open Order Book and Annual New Order Bookings showed significant growth. Both Map-led & IoT-led recorded strong growth YoY (FY24 vs FY23) to Rs 267 crore vs 222 crore & Rs 112 crore vs Rs 59 crore respectively. Map-led margins remain strong & expanded 100 bps year on year to 54% in FY24 compared to 53% in FY23. Map-led business margins remained steady for Q4FY24 vs Q4FY23. Overall IoT-led revenue has grown 91% YoY, driven by healthy growth in devices as well as better product mix. 2.9+ L devices were rented and sold in FY24, a growth of 52% YoY. IoT-led quarterly EBITDA margins continue to improve to 17% due to product mix and operational efficiency vs 10% in Q3FY24. FY24 EBITDA Margin has grown to 11.6 % from 1.7% in FY23, due to higher gross margin subscription revenue growing 170% YoY. Share of subscription revenue to total revenue increased from 28% in FY23 to 40% in FY24. Result PDF