C.E. Info Systems Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

The order entails licensing of CE Info (MapmyIndia) Map & connected services contents including real time & predictive traffic, mobile SDK, online search and call centre maps, for embedded connected navigation & connected car services of Hyundai and Kia Cars OEM Business in India.

The order has been received from Hyundai AutoEver Corp., Seoul, Korea. The production will be started in 2024 and the order is to be executed for next 5 years.

C.E. Info Systems is India’s leading advanced digital maps and deep-tech company, popularly known in India as MapmyIndia and globally as Mappls. The company offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS), including its advanced digital map data, software products, platforms, application programming interfaces (APIs), IoT and solutions to new-age tech companies, large businesses, automotive OEMs, government organisations, developers and consumers.

The company has reported 5% growth in consolidated net profit to Rs 31.1 crore on a 36% increase in revenue from operations to Rs 92 crore in Q3 FY24 as compared with Q3 FY23.

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C.E. Info Systems has received a contract of Rs 400 crore from Hyundai AutoEver Corp., Seoul, Korea. The contract is for licensing of the company's (MapmyIndia) map & connected services contents including real time & predictive traffic, mobile SDK, online search and call centre maps, for embedded connected navigation & connected car services of Hyundai and Kia Cars OEM business in India.

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EBITDA improved by 38% to Rs 38.6 crore in Q3 FY24 from Rs 27.8 crore in Q3 FY23. EBITDA margin was 42% in Q3 FY24 as against 41% in Q3 FY23.

Profit before tax for the period under review was Rs 42.1 crore, which is higher by 18% as compared with the pre-tax profit of Rs 35.7 crore recorded in the same period last year.

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 Automotive & Mobility Tech (A&M) up 19.5% and Consumer Tech and Enterprise Digital Transformation (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 our App & sales growth of our Gadgets.”

C.E. Info Systems is India’s leading advanced digital maps and deep-tech company, popularly known in India as MapmyIndia and globally as Mappls. The company offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS), including its advanced digital map data, software products, platforms, application programming interfaces (APIs), IoT and solutions to new-age tech companies, large businesses, automotive OEMs, government organisations, developers and consumers.

The scrip fell 2.28% to currently trade at Rs 1991 on the BSE.

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Net profit of C.E. Info Systems rose 3.74% to Rs 30.75 crore in the quarter ended December 2023 as against Rs 29.64 crore during the previous quarter ended December 2022. Sales rose 36.00% to Rs 92.02 crore in the quarter ended December 2023 as against Rs 67.66 crore during the previous quarter ended December 2022.

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