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Sudarshan    


Mumbai, India

Read Business Not Stock Prices Co-Founder of a financial platform focused on equity research which has overall network of 50k investors. Have exposed multiple corporate governance issues in financial market encompassing from smallcaps to largecaps. Everything about some stocks, something about every stock

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MAPMYINDIA

Comments: 0 | Likes: 0 | Current Price: ₹ 1808.1


Unlocking Growth: In-Depth Analysis of CE Info Systems (Map My India)

CE Info Systems, operating as Map My India, stands as a frontrunner in geographical information solutions, boasting a 95% in-dash navigation market share. With diversified revenue streams and a significant 31% order book growth in FY23, the company reflects a promising future. Its robust financials, strategic initiatives like IoT expansion and drone capabilities, coupled with recent market openings, position it as a trailblazer in reshaping technology interaction and navigation.


About The Company:
In the rapidly evolving landscape of technology, CE Info Systems, operating under the brand name Map My India, has positioned itself as a trailblazer in the realm of geographical information solutions. This comprehensive analysis delves into the company's historical journey, financial performance, and future strategies, shedding light on its pivotal role in reshaping how we interact with and navigate the world around us.

Company Overview:
Founded in 1995 by Rakesh and Rashmi Verma, CE Info Systems has carved a niche for itself by providing cutting-edge software services. Specializing in Digital Maps as a Service (MaaS), Software as a Service (SaaS), Platform as a Service (PaaS), and Internet of Things (IoT), the company serves a diverse clientele, including automotive OEMs, corporations, and government agencies. Notably, it boasts an impressive market share of approximately 95% in the in-dash navigation market.

Segment Analysis:
CE Info Systems' revenue streams are diversified, encompassing map data-related services, hardware sales, and Software as a Service (SaaS). The fiscal year 2023 witnessed robust growth, with products like Map and IoT contributing significantly to the top line. The 31% increase in the order book, reaching Rs. 918 crore by March 31, 2023, underscores the company's substantial growth potential.

Industry Analysis:
In the broader context of the Indian Information Technology (IT) industry, CE Info Systems is poised to play a pivotal role, contributing nearly 10% to India's GDP by 2025. The industry's perpetual evolution, coupled with advancements like artificial intelligence (AI) and machine learning (ML), positions CE Info Systems for sustained growth. Recent rulings against Google by the Competition Commission of India further open doors for market expansion and heightened relevance.

Financials:
CE Info Systems' financial performance in FY23 showcased robust results, with a remarkable 40.42% increase in revenue, reaching Rs. 281.46 crore. Net profits surged by 23.23% to Rs. 107.53 crore. Operating profit margin (OPM) and net profit margin (NPM) remained commendably high, reflecting the company's adept cost management strategies.

Balance Sheet Summary:

  • Fixed Assets: There is a substantial increase by 13% between FY22 and FY23 amouting to Rs 41 Cr which shows that company is expanding its business which will lead to future growth of the company.
  • Borrowings: Company has almost negligible borrowing.
  • Profitability: With increasing profitability, net worth of the company is constantly increasing.

Key Ratios:

Financial:

Margins:

Valuations:

Future Plans:
CE Info Systems is strategically positioning itself for future growth through several key initiatives:
- Investment of approximately Rs 7 crore for a 20% stake in Indrones Solutions, focusing on drone manufacturing and data analytics.
- Expansion of the IoT business and the development of full-stack drone capabilities.
- Marketing activities to enhance brand visibility and promote MAPPLS products.
- Leverage of the B2C segment through investments in Gadget Space, fostering better outreach and product enhancement for Map My India.
- Investment in Kogo, a gamified social travel commerce platform, with a 26% stake for Rs. 10 crores, enhancing the company's capabilities for new market ventures.
- Capitalizing on recent Competition Commission of India rulings against Google to increase market share and explore new opportunities as a home-grown business.

Management:
Rakesh Kumar Verma is the Co-Founder, Chairman and Managing Director in the company along with Rashmi Verma is Co-Founder and CTO. Rohan Verma is thr CEO and Sapna Ahuja is COO Headed with Anuj Jain as CFO.

 

Industry Overview:
With the increased pervasiveness of a location component in nearly every industry, digital maps continue to increase in popularity in India. Industries such as automotive, telecom, e-commerce, retail, FMCG, BFSI, logistics and food delivery all find a need for hyper-local digital maps. The Indian digital map services market is expected to be valued at US$ 4.2 Billion by CY2025 and the Indian Mobility Navigations Solutions and Telematics market is expected to be valued at US$ 45 Billion by CY2025. This growth is expected to be derived from growing app downloads and increasing smartphone penetration (75% in CY2023E) in India as a result of better infrastructure and increasing use cases for location-based data platforms.

Risks:

  • Slowdown in economy can impacts the IT & ITES, further slowing the overall process down.
  • Risk arising from imports comprising a significant share of your company’s revenues and the fluctuations of foreign currencies.
  • As an entirely digital company, there is a significant risk of digital compromise of the software.

Analysis:
In the forefront of geospatial solutions, CE Info Systems (Map My India) boasts a 95% market share in in-dash navigation. FY23 saw a robust 40.42% revenue increase, reaching Rs. 281.46 crore. With a strategic focus on IoT and drone capabilities, the company aims for sustained growth. Key initiatives include investments in Indrones Solutions, Gadget Space, and Kogo, capitalizing on recent rulings against Google. Led by Rakesh Verma, the company is positioned as a trailblazer in India's tech scene, with a high P/E ratio reflecting market confidence. 🗺️💡

Conclusion:
As CE Info Systems charts an upward trajectory, fueled by impressive financials and strategic investments, the company emerges as a beacon of innovation in the technology landscape. With a focus on diversification, brand building, and capitalizing on emerging opportunities, Map My India is poised for sustained success. The high P/E ratio underlines the market's confidence in the company's growth potential. What are your thoughts on CE Info Systems' expansion journey? Share your insights in the comments below. 🌐🚀

Disclosure:

I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Business relationship disclosure:

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Stocx Research Club). I have no business relationship with any company whose stock is mentioned in this article.

Disclosure legality:

I am not a SEBI Registered individual/entity and the above research article is only for educational purpose and is never intended as trading/investment advice.

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