C.E. Info Systems Ltd is India’s top advanced digital maps and deep-tech firm, also known as MapmyIndia in India and Mappls abroad. It is India’s most comprehensive GPS navigation and tracking service provider.
MapmyIndia provides navigation, tracking, IoT, analytics, and web mapping services for desktop and mobile devices to companies such as Olx, Flipkart, Uber, Phonepe, and many more. It also provides powerful GPS tracking devices, automobile in-dash infotainment, street view, and public transportation information.
It is a Small-cap company with a market capitalization of Rs 6,544 crore. The company’s shares were trading at Rs 1,219 apiece on July 7.
MapmyIndia is India’s largest navigation platform, which supports a wide range of navigation software and hardware platforms.MapmyIndia dominates 95% in-dash navigation market of India.
MapmyIndia serves four major markets such as direct customers, the automotive sector, mobile internet, and enterprises and government.
In FY23, 1.9 million new automobiles were registered with MapmyIndia, a 46% increase from 1.3 million in FY22 because of the high penetration of the Fin-tech industry.
The business has so far mapped more than 10.54 million distinct locations, increased its coverage to more than 6.3 million kilometres of the road network, 7.9K cities at street level, and address level for more than 80 cities. Additionally, 637K+ villages, with 3D and 2D landmarks. Currently, it has 18+ million locations registered and 98.5% of India’s road network was mapped.
Over 200 countries’ maps from across the world have been merged into the company’s Mappls platform, which enables services such as location-based analytics, monitoring and telemetry, and navigation functionalities.
With momentum from all market participants, the company’s open order book climbed 31% to Rs 918 Cr in FY23, from 699.6 Cr in FY22.
The company is growing exponentially due to the continued adoption & expansion of use cases, as well as up-selling and cross-selling to new and existing customers.
As per financials, Operating sales rose by 28 percent from Rs 198 crore in FY 21–22 to Rs 253 crore in FY 22–23, Net profit grew by 27 percent from Rs 85 crore to Rs 108 crore within the same time period.
As per the latest shareholding pattern, the company’s promoters own 53.31% of the stock, Domestic institutional investors own 4.85% while Foreign institutional investors own 6.61%.
Written by Omkar Chitnis
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