MapmyIndia and Hyundai Autoever forms a JV for map based solutions for automotives in South East Asia
MapmyIndia Q2FY25 YoY Revenue grew 13.8% and H1FY25 YoY Revenue grew 13.7%.
Press Release, 8th November 2024
C.E. Info Systems Ltd. (“MapmyIndia”), announced on 8th November, its financial results for the Second Quarter and First Half of FY2025 ended on 30th September 2024.
Key Consolidated Financial Highlights for Q2 and H1 FY25:
Commenting on the Q2 and H1 FY25 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said “MapmyIndia has received official board approval to establish a joint venture with Hyundai Autoever, a wholly owned subsidiary of Hyundai Kia. MapmyIndia will hold a 40% stake with a capital investment of $4 million. The joint venture, named PT Terra Link Technologies, will be based in Indonesia and will concentrate on providing map-based solutions for automotive OEMs and other businesses across Southeast Asia. Estimated Revenue of JV would be to the tune of USD multimillion over the next 5 years with order booking and revenue commencing from FY26 itself. This JV will also benefit current customers of MapmyIndia.
Our Q2 FY25 revenue from operations increased to Rs 104 crore, a 14% YoY growth and the first half of FY25 (H1 FY25) saw revenue growing to Rs. 205 crore as against Rs. 181 crores in H1 FY24. EBITDA for H1 FY25 reached ₹80 crore, yielding a margin of 39.1%, compared to ₹78 crore and a margin of 43.2% in H1 FY24. EBITDA for Q2 FY25 was ₹37.5 crore, yielding a margin of 36.1%, compared to ₹40.5 crore and a margin of 44.5% in Q2 FY24. Decrease in margin is primarily due to investing on a continuous basis during the last four quarters in consumer business for the future growth and these investments are booked as expenses. Downloads of the Mappls App surged from 10 million in H1FY24 to 25 million in H1FY25. Our Profit After Tax (PAT) for H1 FY25 rose to ₹66 crore, compared to ₹65 crore in H1 FY24. Our IoT-led EBITDA margin improved significantly, rising from 7% to 14% during the same period. We are on track for achieving our goals of FY 27-28.”
Sapna Ahuja, COO, MapmyIndia, said “The overall market we serve faced challenges in Q2 FY25, but we managed to perform reasonably well thanks to our open orders and strong teamwork. In H1 FY25, our Automotive & Mobility Tech (A&M) revenue rose by 19.3% YoY, while our Consumer Tech & Enterprise Digital Transformation (C&E) revenue grew by 8.2%. Specifically, in Q2 FY25, A&M revenue increased by 27% to INR 60.9 Cr YoY, while C&E revenue remained steady at INR 42.7 cr.
With our efforts during past many quarters, we finally could enter the international market with a significant win of PT Terra Link Technologies in the South East Asian region for map solutions.
We successfully acquired new customers and deepened our relationships with existing clients through upselling and cross-selling. This included significant wins and go-lives across various sectors, including automotive, fleet management, tech startups, traditional corporations, government entities and defence. Our diverse range of solutions saw increased adoption, such as our ADAS and EV Mobility stack, video telematics for fleets, APIs and SDKs for app developers and enterprises, and geospatial solutions like 3D digital twin mapping. Additionally, the adoption of our consumer products continues to rise steadily.”
About MapmyIndia (C.E. Info Systems Ltd) & Mappls
www.mapmyindia.com / about.mappls.com / www.mappls.com
C.E. Info Systems Ltd (NSE: MAPMYINDIA; BSE: 543425) is India’s leading deep-tech digital map data, geospatial software and location-based IoT products, platforms, solutions and APIs company, offering proprietary digital maps as a service (“MaaS”), software as a service (“SaaS”) and platform as a service (“PaaS”). The company provides its digital maps, software products, platforms, application programming interfaces (“APIs”), IoT and solutions to new-age tech companies, businesses across industry verticals, automotive OEMs, government organisations, developers and consumers, under the Mappls MapmyIndia brand. The company has served more than 2000 B2B and B2B2C 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.
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 (photo-realistic representing actual ground reality), and hyper-local 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). More about the entire range of the company’s products and platforms can be learned about from about.mappls.com.
The company’s consumer facing products include the free Mappls App (accessible on the web at www.mappls.com & downloadable from mappls.com/getApp), which provides the best and fully indigenous maps, navigation, safety, hyper local and IoT gadget-enabled app experience for users, and Mappls Gadgets (www.mapplsgadgets.com), which provides a range of IoT-enabled gadgets for safety, convenience, entertainment of your vehicles and loved ones such as vehicle trackers, dash cameras, and in-dash and in-helmet navi-tainment systems for cars and 2-wheelers.
