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
Internet Software & Services company C.E. Info Systems announced Q3FY24 and 9MFY24 results: Revenue and Total Income: Q3FY24 Revenue: Rs 92.0 crore (36% YoY growth). All-time high Q3FY24 Total Income: Rs 103.6 crore (32% YoY growth). 9MFY24 Revenue: Rs 272.5 crore (30% YoY growth). 9MFY24 Total Income: Rs 298.3 crore (28% YoY growth). EBITDA Performance: Q3FY24 EBITDA: Rs 38.6 crore (38% YoY growth). 9MFY24 EBITDA: Rs 116.6 crore (32% YoY growth). Consistent 9MFY24 EBITDA Margin: 43%. Profitability: Q3FY24 PAT: Rs 31.1 crore (5% YoY growth). 9MFY24 PAT: Rs 96.2 crore (21% YoY growth). 9MFY24 PAT Margin: 32%. Financial Stability: Q3FY24 Cash & Cash Equivalents: Rs 516.1 crore (including financial instruments). Strong financial position supporting ongoing operations and growth initiatives. Commenting on the Q3FY24 and 9MFY24 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said, “We’re happy that MapmyIndia crossed for the first time a milestone of Rs 100 crore+ quarterly Total Income, and again achieved all-time high in Revenue in Q3FY24, growing 36% YoY to Rs 92 crore, while YTD Revenue has touched Rs 272.5 crore. EBITDA in Q3FY24 grew 38% to Rs 38.6 crore and YTD grew 32% to Rs 116.6 crore, with an overall YTD EBITDA margin at 43%. YTD Map-led EBITDA margin remains strong at 55.1%. IoT-led EBITDA margin has expanded to 10% in Q3FY24 versus 8.2% in Q2FY24, and in YTD stands at 8.2% expanding 730 bps YoY. YTD PAT is robust at Rs 96.2 crore growing 21% YoY, with PAT margin at 32%. Q4FY24 will be exciting. Not just are we happy with the growth of our core B2B and B2B2C business, we are also pleased to see our consumer business take shape with increased brand awareness & product uptake.” Rohan Verma, CEO & Executive Director, MapmyIndia, said, “We are excited about Q4FY24, with a strong order book build-up based on very large new wins, and look forward to sharing developments shortly. YTD (9MFY24) Revenue growth was broad-based, with A&M; up 19.5% and C&E; up 43.1% on the market side, while Map & Data was up 37.6% and Platform & IoT was up 26.5% on the product side. We had multiple wins and go-lives across our Auto OEM NCASE suite with an exciting funnel ahead. We also had multiple wins and go-lives across consumer tech companies & enterprises and in the government based on Map-led & IoT-led digital transformation. We started a strong 360-degree marketing push for our consumer business, which was highly effective, yet cost-efficient in increasing Mappls MapmyIndia brand awareness and product traction. We’re happy to see the start of ad-revenue monetization of the App & sales growth of our Gadgets.” Result PDF
Conference Call with C.E. Info Systems Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.