MapmyIndia delivers strong Q3 & 9M FY23 results

• Q3 FY23 revenue up 56% YoY to Rs 68 Cr, EBITDA up 67% to Rs 28 Cr, PAT up 61% to Rs 30 Cr
• Q3 FY23 EBITDA Margin at 41.1% and PAT Margin at 38%
• 9M FY23 revenue up 46% YoY to Rs 209 Cr, EBITDA up 41% YoY to Rs 88 Cr, PAT up 22% to Rs 79 Cr

New Delhi, India, 31st January 2023: C.E. Info Systems Ltd. (“MapmyIndia”), India’s leading advanced digital maps and deep-tech products and platforms company, announced today its financial results for the Third Quarter and Nine Months of FY2023 ended on 31st December 2022.

Key Consolidated Financial Highlights for Q3 & 9M FY23:

Commenting on the Q3 and 9M FY23 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said “In Q3 FY23, MapmyIndia delivered another strong performance, with quarterly revenue up 56% year-on-year to Rs 68 Cr, EBITDA up 67% to Rs 28 Cr, PAT up 61% to Rs 30 Cr. EBITDA and PAT margins both expanded in Q3 FY23 on a QoQ as well as YoY basis, with EBITDA margin at 41.1% and PAT margin at 38%. Year-to-Date Year-on-Year is the right way to compare performance trend of the company. 9M FY23 YoY Revenue is up 46%, EBITDA is up 41%, and PAT is up 22%. EBITDA margin is at 42.3% and PAT margin is at 33.9%.

Overall these are very healthy growth and profitability numbers. The upselling and cross selling of our products and solutions to existing and new customers continue, which bodes well for the future of the company. We are happy that we have been able to balance our growth and profitability goals, maintaining financial discipline, while also ensuring that we are investing for the future.”

Rohan Verma, CEO & Executive Director, MapmyIndia, said “In Q3 FY 23, revenue growth continues to be broad-based with A&M (Automotive & Mobility Tech) up 45% YoY and C&E (Consumer Tech & Enterprise Digital Transformation) up 76% on the market side. On the products side, Map & Data was up 78% and Platform & IoT was up 51%. For 9M FY23 YoY, A&M revenue was up 51% and C&E revenue was up 40%. Similarly, Map & Data revenue was up 39% and Platform & IoT revenue was up 50%. Thus, both for the quarter and the year, the business is on a strong trajectory. As part of financial discipline, we calibrated marketing expenses down during the quarter, aiding in the company’s profitability, while successfully leveraging previous quarters’ marketing expenditure to generate revenue and order book growth. We are excited by the various customer wins for our various products and solutions across industry verticals for many existing and newer use cases. Good prospects lie ahead for our consumer app and B2C business, based on recent pro competition actions by CCI and Supreme Court, which opens up the market our Mappls app.”

About MapmyIndia & Mappls (C.E. Info Systems Ltd)
(www.mapmyindia.com & www.mappls.com)
C.E. Info Systems Ltd (NSE: MAPMYINDIA; BSE: 543425) 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 served more than 2000 enterprise customers since inception. The company pioneered digital mapping in India in 1995 and has earned its market leadership position in this industry and built a strong moat by capitalizing on our early mover advantage, developing proprietary and integrated
technologies, full stack product offerings, continuous innovation and robust sustainable business model. The company also built India’s very first internet mapping platform and portal, MapmyIndia.com (now called Mappls.com) in 2004. The company’s free Mappls app (accessible on the web and downloadable from https://www.mappls.com) for consumers
provides the best and fully indigenous maps, navigation, safety, hyper local and IoT gadget enabled experience for Indian users.

MapmyIndia has built India’s most comprehensive, accurate, feature-rich and continuously updated digital map data product down to address and urban building level detail pan India, covering all towns, villages, and the entire road network of the country. The company is building not just 2D maps, but also 3D (with landmarks, terrains and city models), 4D (updating in near real-time), HD (high-definition and high-accuracy), RealView (geo-tagged 360 degree panoramas, videos and photos representing actual ground reality), and hyperlocal geo-demographics data-rich maps, to continuously evolve its AI-powered Digital Metaverse Twin of the Real World. The company is also building digital maps for other regions in the world, and has integrated global maps for over 200 countries into its Mappls platform. The company’s platform provides extensive and comprehensive functionalities and ever expanding set of use cases, including mapping, location and navigation, geospatial
data analytics, GIS (geospatial information systems) and AI, GPS tracking and IoT-based fleet management, logistics optimisation and workforce management, drone-based solutions, developer APIs, N-CASE solution suite (for Navigation, Connected vehicle telematics and services, ADAS safety i.e. advanced driving assistance systems, Shared and Electric) for Automotive & Mobility Tech (A&M), and Consumer tech and Enterprise digital transformation solution suite (C&E).