On consolidated basis
Quarter ended September 2023
compared with Quarter ended June 2023.
Net sales (including other operating income) of C.E. Info Systems has increased
1.87% to Rs 91.08 crore.
Operating profit margin has jumped
from 41.90% to 44.98%, leading to 9.37% rise in operating profit to Rs 40.97
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 15.90% to 14.49%. Employee cost
increased from 19.40% to 21.09%. Other expenses fell from 22.79% to
19.43%. Selling and administration expenses rose from 4.63% to
5.17%.
Other income fell 1.20% to Rs 8.22
crore. PBIDT rose 7.45% to Rs 49.19 crore. Provision for
interest rose 10.45% to Rs 0.74 crore.
PBDT rose 7.40% to Rs 48.45
crore. Provision for depreciation rose 16.93% to Rs 3.73
crore.
Profit before tax grew 6.68% to Rs
44.72 crore. Share of profit/loss was 642.86% lower at Rs -0.52
crore. Provision for tax was expense of Rs 11.11 crore, compared to
Rs 9.85 crore. Effective tax rate was 25.14% compared to 23.54%.
Net profit attributable to owners of
the company increased 2.55% to Rs 33.04 crore.
Promoters’ stake was 52.93% as of 30
September 2023 ,compared to 53.31% as of 30 June 2023 .
Quarter ended September 2023
compared with Quarter ended September 2022.
Net sales (including other operating income) of C.E. Info Systems has increased
19.36% to Rs 91.08 crore.
Operating profit margin has jumped
from 39.92% to 44.98%, leading to 34.50% rise in operating profit to Rs 40.97
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 16.89% to 14.49%. Employee cost
decreased from 22.09% to 21.09%. Other expenses fell from 21.10% to
19.43%. Selling and administration expenses fell from 8.94% to
5.17%.
Other income rose 9.02% to Rs 8.22
crore. PBIDT rose 29.45% to Rs 49.19 crore. Provision for
interest rose 32.14% to Rs 0.74 crore.
PBDT rose 29.41% to Rs 48.45
crore. Provision for depreciation rose 92.27% to Rs 3.73
crore.
Profit before tax grew 25.97% to Rs
44.72 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 11.11 crore, compared
to Rs 10.13 crore. Effective tax rate was 25.14% compared to 28.54%.
Net profit attributable to owners of
the company increased 30.03% to Rs 33.04 crore.
Promoters’ stake was 52.93% as of 30
September 2023 ,compared to 53.31% as of 30 September 2022 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of C.E. Info Systems has increased
27.72% to Rs 180.49 crore.
Operating profit margin has jumped
from 42.80% to 43.55%, leading to 29.96% rise in operating profit to Rs 78.61
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 14.40% to 15.19%. Employee cost
decreased from 23.39% to 20.27%. Other expenses rose from 19.41% to
20.99%. Selling and administration expenses fell from 7.18% to
4.90%.
Other income rose 18.41% to Rs 16.34
crore. PBIDT rose 27.81% to Rs 94.95 crore. Provision for
interest rose 15.70% to Rs 1.4 crore.
PBDT rose 28.01% to Rs 93.55
crore. Provision for depreciation rose 79.27% to Rs 6.92
crore.
Profit before tax grew 25.15% to Rs
86.63 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 20.95 crore, compared
to Rs 19.66 crore. Effective tax rate was 24.35% compared to 28.40%.
Minority interest decreased 466.67%
to Rs -0.17 crore. Net profit attributable to owners of the company
increased 31.60% to Rs 65.26 crore.
Promoters’ stake was 52.93% as of 30
September 2023 ,compared to 53.31% as of 30 September 2022 .
Cash flow from operating activities
increased to Rs 46.85 crore for YTD ended September 2023 from Rs 42.63 crore
for YTD ended September 2022. Cash flow used in acquiring fixed
assets during the YTD ended September 2023 stood at Rs 10.74 crore, compared to
Rs 7.87 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of C.E. Info Systems has increased
40.42% to Rs 281.46 crore.
Operating profit margin has declined
from 43.01% to 41.89%, leading to 36.79% rise in operating profit to Rs 117.91
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 9.28% to 17.11%. Employee cost
decreased from 28.70% to 23.52%. Other expenses fell from 19.01% to
17.48%. Selling and administration expenses fell from 7.26% to
5.78%.
Other income fell 17.40% to Rs 34.32
crore. PBIDT rose 19.16% to Rs 152.23 crore. Provision
for interest rose 29.17% to Rs 2.79 crore. Loan funds rose to Rs
29.39 crore as of 31 March 2023 from Rs 19.09 crore as of 31 March
2022. Inventories rose to Rs 12.21 crore as of 31 March 2023 from Rs
7.97 crore as of 31 March 2022. Sundry debtors were higher at Rs
58.27 crore as of 31 March 2023 compared to Rs 43.52 crore as of 31 March
2022. Cash and bank balance rose to Rs 103.77 crore as of 31 March
2023 from Rs 60.09 crore as of 31 March 2022. Investments rose to Rs
362.44 crore as of 31 March 2023 from Rs 296.46 crore as of 31 March 2022
.
PBDT rose 18.99% to Rs 149.44
crore. Provision for depreciation rose 19.85% to Rs 9.9
crore. Fixed assets declined from Rs 39.19 crore as of 31 March 2022
to Rs 28.33 crore as of 31 March 2023. Intangible assets increased
from Rs 4.22 crore to Rs 27.72 crore.
Profit before tax grew 18.93% to Rs
139.54 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 31.73 crore, compared
to Rs 30.26 crore. Effective tax rate was 22.78% compared to 25.79%.
Minority interest increased 600% to
Rs 0.28 crore. Net profit attributable to owners of the company
increased 23.23% to Rs 107.25 crore.
Equity capital increased from Rs
10.65 crore as of 31 March 2022 to Rs 10.73 crore as of 31 March
2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 53.31% as of 31
March 2023 ,compared to 53.73% as of 31 March 2022 .
Cash flow from operating activities
increased to Rs 89.88 crore for year ended March 2023 from Rs 28.76 crore for
year ended March 2022. Cash flow used in acquiring fixed assets
during the year ended March 2023 stood at Rs 15.36 crore, compared to Rs 3.99
crore during the year ended March 2022.
Management Commentary:
Commenting
on the performance Rakesh Verma, Chairman & Managing
Director, MapmyIndia, said “During Q2FY24 MapmyIndia again achieved all-time
highs in Revenue, EBITDA, and PAT. Revenue grew 19.4% YoY to Rs 91.1 Cr and
EBITDA grew 32.5% to Rs 40.5 Cr, with overall EBITDA margin was at 44.5%.
Map-led business EBITDA margin was strong at 56.4%. IoT-led business EBITDA
margin continued to expand quarterly to 8.2% in Q2FY24 versus 6.3% of Q1FY24,
due to improved product mix and operational efficiency. Q2FY24 PAT also reached
an all-time high of Rs 33.1 Cr, growing 30.3% YoY, with PAT margin at 33.4%. Besides
our existing, core B2B and B2B2C business, we’re very happy that our B2C Mappls
App has been receiving significant traction recently, and now has 11 Mn+
lifetime downloads, including 10 Mn+ on Android and 1 Mn+ on iOS.”
Rohan
Verma, CEO & Executive Director, MapmyIndia, said, “We are quite excited
about the 2nd half of the year, especially Q4, based on the funnel of
opportunities ahead for us. H1 Revenue growth was broad-based, with A&M up
23.5% and C&E up 32.2% on the market side, while Map & Data was up
22.6% and Platform & IoT was up 31.5% on the product side. Attach rates and
adoption across the spectrum of our Auto OEM NCASE solutions increased. We achieved
business with Defence customers, an important market segment. Beyond these, we had
multiple wins and go-lives across many industry verticals for our full range of
Map-led and IoT products and solutions. Our B2C Mappls app has seen tremendous
response in the last few months, opening up an additional growth dimension and
optionality for our business in the future.”
| C.E. Info Systems : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 91.08 | 76.31 | 19.36 | 180.49 | 141.32 | 27.72 | 281.46 | 200.44 | 40.42 | | OPM (%) | 44.98 | 39.92 | 507 bps | 43.55 | 42.80 | 75 bps | 41.89 | 43.01 | -111 bps | | OP | 40.97 | 30.46 | 34.50 | 78.61 | 60.49 | 29.96 | 117.91 | 86.20 | 36.79 | | Other Inc. | 8.22 | 7.54 | 9.02 | 16.34 | 13.80 | 18.41 | 34.32 | 41.55 | -17.40 | | PBIDT | 49.19 | 38.00 | 29.45 | 94.95 | 74.29 | 27.81 | 152.23 | 127.75 | 19.16 | | Interest | 0.74 | 0.56 | 32.14 | 1.40 | 1.21 | 15.70 | 2.79 | 2.16 | 29.17 | | PBDT | 48.45 | 37.44 | 29.41 | 93.55 | 73.08 | 28.01 | 149.44 | 125.59 | 18.99 | | Depreciation | 3.73 | 1.94 | 92.27 | 6.92 | 3.86 | 79.27 | 9.9 | 8.26 | 19.85 | | PBT | 44.72 | 35.50 | 25.97 | 86.63 | 69.22 | 25.15 | 139.54 | 117.33 | 18.93 | | Share of Profit/(Loss) from Associates | -0.52 | 0 | - | -0.59 | 0 | - | -0.28 | 0 | - | | PBT before EO | 44.2 | 35.5 | 24.51 | 86.04 | 69.22 | 24.30 | 139.26 | 117.33 | 18.69 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 44.2 | 35.5 | 24.51 | 86.04 | 69.22 | 24.30 | 139.26 | 117.33 | 18.69 | | Taxation | 11.11 | 10.13 | 9.67 | 20.95 | 19.66 | 6.56 | 31.73 | 30.26 | 4.86 | | PAT | 33.09 | 25.37 | 30.43 | 65.09 | 49.56 | 31.34 | 107.53 | 87.07 | 23.50 | | Minority Interest (MI) | 0.05 | -0.04 | PL | -0.17 | -0.03 | -466.67 | 0.28 | 0.04 | 600.00 | | Net profit | 33.04 | 25.41 | 30.03 | 65.26 | 49.59 | 31.60 | 107.25 | 87.03 | 23.23 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 33.04 | 25.41 | 30.03 | 65.26 | 49.59 | 31.60 | 107.25 | 87.03 | 23.23 | | EPS (Rs)* | 6.11 | 4.70 | 30.03 | 12.07 | 9.18 | 31.60 | 19.84 | 16.10 | 23.23 | | | * EPS is on current equity of Rs 10.81 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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