While EBITDA improved by 26% YoY to Rs 29 crore, EBITDA margin fell by 100 bps YoY to 40% during the period under review.

The company's net profit jumped by 24% to Rs 108 crore on a 41% increase in revenue from operations to Rs 282 crore in FY23 as compared with FY22.

RoCE ex-cash was 122% in FY23 as against 96% in FY22.

Cash & Cash Equivalents including financial investments stood at Rs 485 crore as on 31 March 2023 as compared with Rs 382 crore as on 31 March 2022.

MapmyIndia's board has also approved a dividend of Rs 3 per equity share for FY2022- 23, subject to the approval of shareholders in the forthcoming annual general meeting of the company.

Rakesh Verma, chairman & managing director, MapmyIndia, commented: "MapmyIndia continues its stellar performance year after year, and for FY2023, recorded a revenue from operations of Rs 282 crore (up 41%), a PAT of Rs 108 crore (up 24%), and an EBITDA margin of 41.9%.

MapmyIndia has maintained a healthy EBITDA margin in its Map-led business of 52.6%, while investing in the IoT-led business, which is already demonstrating good results. Revenue from the IoT led business grew 140% YoY, with the EBITDA margins growing from 1% in the 9 months of the financial year, to approximately 4% in Q4 FY23, as SaaS income increased.

The IoT-led business is exciting because, while we sold more than 1.9 lakh IoT devices in FY23, 3x what we did in in FY22, the potentially addressable market is of 20 crore vehicles, showing the large headroom there is potentially to be tapped for MapmyIndia's IoT-led hardware and SaaS business.”

Rohan Verma, CEO & executive director, MapmyIndia, said, "Our overall revenue growth of 41% to Rs 282 crore during FY2023 was broad-based with Consumer Tech & Enterprise Digital Transformation revenue up 48% YoY to Rs 130 crore, and Automotive & Mobility Tech revenue up 34% to Rs 152 crore on the markets side.

On the products side, Our Map & Data revenue grew 34% to Rs 112 crore and Platform & IoT revenue grew 45% to Rs 170 crore. More than 1.9 million new vehicles (4-wheelers, 2-wheelers and CVs, across ICE and EV segments) went built-in with MapmyIndia Mappls, up from 1.3 million during FY22, 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.

We acquired more than 250 new B2B and B2B2C customers – including many businesses and enterprises across industry verticals, new-age consumer-tech companies and key government organizations - raising our base to more than 850 customers for our MaaS, SaaS and PaaS offerings, giving us a great platform to up-sell and cross-sell our wide variety of offerings and use-cases to existing and new customers.

Last, but not the least, our open order book grew 31% to Rs 918 crore by the end of FY23 from Rs 699 crore at the beginning of the year, based on annual new order bookings of Rs 512 crore, which bodes well for the future of MapmyIndia's B2B and B2B2C business.”

C.E. Info Systems (MapmyIndia) is India's leading digital map data, geospatial software and location-based IoT deep-tech products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). The company provides its digital maps, software products, platforms, application programming interfaces (APIs), IoT and solutions to new-age tech companies, businesses across industry verticals, automotive OEMs, government organisations, developers and consumers, under the Mappls MapmyIndia brand.

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