Stock Snapshot
Price Performance
Recommendation Rationale
Strong growth outlook supported by a robust order pipeline and expanding digital ecosystem.
Basis of our Recommendation
MapmyIndia is poised for significant growth in FY27, supported by a robust order pipeline exceeding INR 1,750 crores and a rapidly expanding Mappls app ecosystem with over 45 million downloads. The company anticipates over 25% growth, driven by strategic wins in various sectors including Government and IoT. While there are some execution concerns and potential cost pressures, management remains optimistic about long-term opportunities and margin expansion.
Why We Like This Stock
- Robust order pipeline exceeding INR 1,750 crores providing 3-4 years of revenue visibility
- Significant growth anticipated in Government and IoT segments
- Mappls app ecosystem gaining traction with over 45 million downloads
Things To Watch Out For
- Execution concerns related to past delays in government contracts
- Potential cost pressures from rising hardware component prices in the IoT business
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 379 | 463 | 474 | 554 | 642 |
| Profit Before Tax (Cr.) | 161 | 179 | 189 | 224 | 259 |
| PBT Margin | 42.6% | 38.7% | 39.9% | 40.4% | 40.3% |
| Net Profit (Cr.) | 121 | 139 | 121 | 168 | 194 |
| EPS | 22.2 | 25.3 | 22.1 | 30.7 | 35.5 |
Company Overview
Show Company Profile
C. E. Info Systems Limited provides digital mapping, geospatial, and Internet of Things (IoT) platform solutions in India and internationally. The company offers digital maps and geospatial data products. It also provides mGIS, geospatial and analytics, and ML/AI engine for processing geospatial data; IoT and telematics solutions, InTouch platform, workmate, and hardware and sensors; and Map portal, Mappls app, Mappls gadgets, Mappls pin, Political map of India, and India maps. In addition, the company offers NCASE Automotive Suite, NaviMaps, Mappls App, Mappls Gadgets, and Navigation SDK. Further, it provides map APIs and SDKs, combat covid APIs, InTouch SDK, workmate APIs, and GIS and analytics APIs. Additionally, it offers drone services, including DroneTech and solutions for drones. The company offers its solutions to automotive, enterprise, government, and mobility and IoT industries. C. E. Info Systems Limited was founded in 1992 and is headquartered in New Delhi, India.