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New Delhi, India: C.E. Info Systems Ltd. (“MapmyIndia”), India’s leading advanced digital maps and deep-tech products and platforms company, announced its financial results for the First Quarter of FY2023 ended on 30th June 2022.
Key Consolidated Financial Highlights for Q1 FY23:
| Particulars (Rs Cr) | Q1 FY23 | Q1 FY22 | YoY % Growth |
| Revenue from Operations | 65 | 43 | 50% |
| Total Income | 71 | 52 | 36% |
| EBITDA | 30 | 19 | 55% |
| EBITDA Margin (%) | 46% | 45% | |
| PAT | 24 | 21 | 18% |
| PAT Margin (%) | 34% | 39% | |
| Cash & Cash Equivalents | 392 | 356 |
Commenting on the Q1 FY23 results, Rakesh Verma, Chairman & Managing Director, MapmyIndia, said “MapmyIndia’s Q1 FY23 results demonstrated extremely strong revenue growth of 50% and high profitability margins of 46% EBITDA and 34% PAT in the quarter. What sets MapmyIndia apart as a unique company to our customers and shareholders, is our combination of being a new-age deep-tech digital products and platforms company, which has extremely sound business and financial fundamentals. Being a highly differentiated and unique advanced digital maps, SaaS Products, API platforms, and IoT devices company gives us tremendous operating leverage, which is reflected in our growing margins and profitability as revenue grows. Our open order book of Rs 699 Cr at the beginning of FY23, up 85% from Rs 377 Cr at the beginning of previous year FY22, points towards strong long-term future revenue growth from existing orders in hand itself.”
Rohan Verma, CEO & Executive Director, MapmyIndia, said “Our strong Q1 YoY revenue growth was broad-based with A&M (Automotive & Mobility Tech) up 65% and C&E (Consumer Tech & Enterprise Digital Transformation) up 37% on the market side. On the products side, Map & Data was up 53% and Platform & IoT was up 47%. Integration of the Gtropy acquisition and scale-up of our IoT business is well underway, to address the extremely large market opportunity of selling IoT & SaaS to more than 20 crore existing vehicles on road, complementing our core automotive OEM business where we sell factory-embedded solutions to Auto OEMs for their 2 crore new vehicles produced per year.
We continue to launch new and enhanced versions of our existing market-leading, world-class advanced maps, SaaS products, API platforms, and IoT devices and innovatively address more and more use cases, allowing us to become even more relevant to more industries, customers, and users.”