C.E. Info Systems Ltd. share price target

We initiate coverage on C.E Info Systems (MapmyIndia/MMI), a premier and indigenous location platform provider, with an ACCUMULATE rating and TP of Rs1,625. MMI's near-monopoly in India is driven by its accurate mapping technique; our conversations with stakeholders have highlighted that accuracy is critical when choosing a mapping partner. MMI's comprehensive solutions, flexible pricing policy, asset-light model coupled with favorable macro factors have helped it stand out in a new-age tech space. Our conviction is further bolstered by its robust financials i.e. best in class operating margins (40%+), debtfree status, healthy balance sheet, and high return ratios, while 3.3x growth in...

C.E. Info Systems Ltd (MapMyIndia) is data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). As per the F&S Report, MapMyIndia is India's leading provider of advanced digital maps, geospatial software and location-based IoT technologies. Having pioneered digital mapping in India in 1995, the company has earned the market leadership position in this industry and built a strong moat by capitalizing on the early mover advantage, developing proprietary and integrated technologies, full stack product offerings, continuous innovation and robust sustainable business model. The company provides products, platforms, application programming interfaces (APIs) and solutions across a...

C.E. Infosystems limited is data and technology products and Platforms Company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS), and platform as a service (PaaS). Having pioneered digital mapping in India in 1995, It has earned a market leadership position in this industry and built a strong moat by capitalizing

has built maps for more than 6mn km covering 98.5% of India's road networks. MapmyIndia is well positioned to cater to Indian market expected to reach USD 7.7 Bn by CY25 (17% CAGR over CY21-25) given 1) its leading...