C. E. Info Systems rallies as Q4 PAT climbs 35% to Rs 38 crore

C. E. Info Systems advanced 4.85% to Rs 2,010.20 after the company's consolidated net profit jumped 35.40% to Rs 37.94 crore in Q4 FY24 as against Rs 28.02 crore posted in Q4 FY23.

Revenue from operations increased 47.51% year on year (YoY) to Rs 106.9 crore in the quarter ended 31 March 2024.

Profit before tax for fourth quarter of FY24 stood at Rs 46.97 crore, up by 36.78% from Rs 34.34 crore recorded in corresponding quarter last year.

For Q4, EBITDA grew 36% to Rs 39.5 crore as compared with Rs 29 crore posted in same quarter FY23. EBITDA margin declined to 40% in Q4 FY24 as against 40% reported in corresponding quarter previous fiscal.

On full year basis, the company's consolidated net profit gained 24.90% to Rs 133.96 crore on 34.80% jump in revenue from operations to Rs 379.42 crore in FY24 over FY23.

Meanwhile, the board recommended a final dividend of Rs 3.50 for the financial year ended 31 March 2024.

Rakesh Verma, chairman & managing director of MapmyIndia, said, If you look at our 3-year track record, revenue has grown at a 38% CAGR and EBITDA margins and PAT margins have been consistently above 40% and 30% respectively. Our Order Book achievements give us further confidence that we are on track to our stated milestone of crossing Rs 1000 Cr revenue by FY27/FY28. Our Open Order Book grew 49% to Rs 1,372 Cr at end of FY24, which bodes well for our future revenue. This was based on Annual New Order Bookings in FY24 of Rs 834 Cr, a growth of 63% year-on-year.

The year gone by continued to show growth of our core B2B and B2B2C business across existing market segments of automotive, corporate, government and mobility. We have been investing in building our capabilities and solutions to expand internationally as well as in the drone segment.

Rohan Verma, CEO & executive director said, Our overall revenue growth of 35% to Rs 379 Cr during FY2024 was broad-based with consumer tech & enterprise digital transformation revenue up 49% YoY to Rs 194 Cr, and automotive & mobility tech revenue up 23% to Rs 186 Cr on the markets side. On the products side, map & data revenue grew 23% to Rs 138 Cr and Platform & IoT revenue grew 42% to Rs 241 Cr.

2.5+ million new vehicles (4-wheelers, 2-wheelers and CVs, across ICE and EV segments), went built-in with MapmyIndia Mappls, up from 1.9 million during FY23, 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. Further, we achieved 52% growth in the number of IoT devices installed during the year to 2.9+ Lakhs, which led to significant growth in our IoT-led business.

C.E. Info Systems provides digital map data, GPS navigation and location-based services, software and customizing its products to customers (combined) through royalty, annuity, subscription.

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