Conference Call with C.E. Info Systems Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Internet Software & Services company C.E. Info Systems announced Q2FY25 results Revenue from Operations: Rs 103.7 crore compared to Rs 91.1 crore during Q2FY24, change 13.80%. EBITDA: Rs 37.5 crore compared to Rs 40.5 crore during Q2FY24, change -8.49%. EBITDA Margin: 36.1% for Q2FY25. PAT: Rs 30.4 crore compared to Rs 33.1 crore during Q2FY24, change -8.26%. PAT margin: 26.7% for Q2FY25. Rakesh Verma, Chairman & Managing Director, MapmyIndia, said: “MapmyIndia has received official board approval to establish a joint venture with Hyundai Autoever, a wholly owned subsidiary of Hyundai Kia. MapmyIndia will hold a 40% stake with a capital investment of USD 4 million. The joint venture, named PT Terra Link Technologies, will be based in Indonesia and will concentrate on providing map-based solutions for automotive OEMs and other businesses across Southeast Asia. Estimated Revenue of JV would be to the tune of USD multimillion over the next 5 years with order booking and revenue commencing from FY26 itself. This JV will also benefit current customers of MapmyIndia. Our Q2FY25 revenue from operations increased to Rs 104 crore, a 14% YoY growth and the first half of FY25 (H1FY25) saw revenue growing to Rs. 205 crore as against Rs. 181 crores in H1FY24. EBITDA for H1FY25 reached Rs 80 crore, yielding a margin of 39.1%, compared to Rs 78 crore and a margin of 43.2% in H1FY24. EBITDA for Q2FY25 was Rs 37.5 crore, yielding a margin of 36.1%, compared to Rs 40.5 crore and a margin of 44.5% in Q2FY24. Decrease in margin is primarily due to investing on a continuous basis during the last four quarters in consumer business for the future growth and these investments are booked as expenses. Downloads of the Mappls App surged from 10 million in H1FY24 to 25 million in H1FY25. Our Profit After Tax (PAT) for H1FY25 rose to Rs 66 crore, compared to Rs 65 crore in H1FY24. Our IoT-led EBITDA margin improved significantly, rising from 7% to 14% during the same period. We are on track for achieving our goals of FY28.” Sapna Ahuja, COO, MapmyIndia, said: “The overall market we serve faced challenges in Q2FY25, but we managed to perform reasonably well thanks to our open orders and strong teamwork. In H1FY25, our Automotive & Mobility Tech (A&M;) revenue rose by 19.3% YoY, while our Consumer Tech & Enterprise Digital Transformation (C&E;) revenue grew by 8.2%. Specifically, in Q2FY25, A&M; revenue increased by 27% to Rs 60.9 crore YoY, while C&E; revenue remained steady at Rs 42.7 crore. With our efforts during past many quarters, we finally could enter the international market with a significant win of PT Terra Link Technologies in the South East Asian region for map solutions. We successfully acquired new customers and deepened our relationships with existing clients through upselling and cross-selling. This included significant wins and go-lives across various sectors, including automotive, fleet management, tech startups, traditional corporations, government entities and defence. Our diverse range of solutions saw increased adoption, such as our ADAS and EV Mobility stack, video telematics for fleets, APIs and SDKs for app developers and enterprises, and geospatial solutions like 3D digital twin mapping. Additionally, the adoption of our consumer products continues to rise steadily.” Result PDF
Conference Call with C.E. Info Systems Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.