MapmyIndia declares FY23 results, Revenue up 41% to Rs 282 Cr, PAT up 24% YoY to Rs 108 Cr and EBITDA margins at 42%

– Board approves declaration of dividend of Rs 3/- (150%) per equity share
– Open Order Book up 31% to Rs 918 Cr from Rs 699 Cr, based on annual new order bookings of Rs 512 Cr
– Automotive & Mobility Tech Revenue up 34% to Rs 152 Cr and Consumer Tech & Enterprise Digital Transformation Revenue up 48% to Rs 130 Cr

New Delhi, India, 23rd April 2023: MapmyIndia (C.E. Info Systems Ltd, NSE: MAPMYINDIA; BSE: 543425), India’s leading digital map data, geospatial software & location-based IoT deep tech products and platforms company, announced its financial results for the Full Year and Fourth Quarter of FY2023 ended March 31st 2023. MapmyIndia’s Board also approved a dividend of Rs 3/- (150%) per equity share for FY2022- 23, subject to the approval of shareholders in the forthcoming Annual General Meeting of the
Company.

Key Consolidated Financial Highlights for Full Year and Q4 of FY2023:

Rakesh Verma, Chairman & Managing Director, MapmyIndia, commenting on the Full Year and Fourth Quarter of FY23 results, said “MapmyIndia continues its stellar performance year after year, and for FY2023, recorded a revenue from operations of Rs 282 Cr (up 41%), a PAT of Rs 108 Cr (up 24%), and an EBITDA margin of 41.9%. MapmyIndia has maintained a healthy EBITDA margin in its Map-led business of 52.6%, while investing in the IoT-led business, which is already demonstrating good results. Revenue from the IoT led business grew 140% YoY, with the EBITDA margins growing from 1% in the 9 months of the financial year, to ~4% in Q4 FY23, as SaaS income increased. The IoT-led business is exciting because, while we sold 1.9+ lakh IoT devices in FY23, 3x what we did in in FY22, the potentially addressable market is of 20 crore vehicles, showing the large headroom there is potentially to be tapped for MapmyIndia’s IoT[1]led hardware and SaaS business. Finally, once again we declared a dividend this year, to demonstrate our gratitude & commitment to shareholders for continuing a long-term journey with MapmyIndia”.

Operational Highlights

Note: 1) includes 4-wheelers, 2-wheelers and CVs, across ICE and EV segments

Rohan Verma, CEO & Executive Director, MapmyIndia, said, “Our overall revenue growth of 41% to Rs 282 Cr during FY2023 was broad-based with Consumer Tech & Enterprise Digital Transformation revenue up 48% YoY to Rs 130 Cr, and Automotive & Mobility Tech revenue up 34% to Rs 152 Cr on the markets side. On the products side, Our Map & Data revenue grew 34% to Rs 112 Cr and Platform & IoT revenue grew 45% to Rs 170 Cr. 1.9+ million new vehicles (4-wheelers, 2-wheelers and CVs, across ICE and EV segments), went built-in with MapmyIndia Mappls, up from 1.3 million during FY22, showing faster than industry growth uptake of our Auto N-CASE suite of map and technology solutions amongst automotive OEMs, including new-age EV companies. We acquired 250+ new B2B and B2B2C customers – including many businesses and enterprises across industry verticals, new-age consumer-tech companies and key government organizations – raising our base to 850+ customers for our MaaS, SaaS and PaaS offerings, giving us a great platform to up-sell and cross-sell our wide variety of offerings and use-cases to existing and new customers. Last, but not the least, our Open Order Book grew 31% to Rs 918 Cr by the end of FY23 from Rs 699 Cr at the beginning of the year, based on Annual New Order Bookings of Rs 512 Cr, which bodes well for the future of MapmyIndia’s B2B and B2B2C business.

Looking into the upcoming year, we intend to incubate potentially large, yet unlocked, opportunities for our company, including in the consumer app and gadgets space, based on the rave reviews our consumer facing Mappls App and Mappls Gadgets are receiving, and in the fast-growing drone space, where we have been preparing strong full-stack drone capabilities, through organic and inorganic means, to address the fast-growing market for drone solutions. We of course continue to relentlessly innovate, and will continue to invest in enhancing our existing products and offerings, and also in expanding the visibility and reach of the Mappls MapmyIndia brand & offerings.”