On consolidated basis
Quarter ended December 2023 compared
with Quarter ended September 2023.
Net sales (including other operating income) of C.E. Info Systems has increased
1.03% to Rs 92.02 crore.
Operating profit margin has declined
from 44.98% to 39.13%, leading to 12.11% decline in operating profit to Rs
36.01 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 14.49% to 15.22%. Employee cost decreased
from 21.09% to 21.00%. Other expenses rose from 19.43% to 24.65%.
Selling and administration expenses rose from 5.17% to 10.13%.
Other income rose 40.39% to Rs 11.54
crore. PBIDT fell 3.33% to Rs 47.55 crore. Provision for
interest rose 2.70% to Rs 0.76 crore.
PBDT fell 3.43% to Rs 46.79
crore. Provision for depreciation rose 0.54% to Rs 3.75
crore.
Profit before tax down 3.76% to Rs
43.04 crore. Share of profit/loss was 82.69% lower at Rs -0.95
crore. Provision for tax was expense of Rs 11.05 crore, compared to
Rs 11.11 crore. Effective tax rate was 26.25% compared to 25.14%.
Minority interest increased 480% to
Rs 0.29 crore. Net profit attributable to owners of the company
decreased 6.93% to Rs 30.75 crore.
Promoters’ stake was 52.91% as of 31
December 2023 ,compared to 52.93% as of 30 September 2023 .
Quarter ended December 2023 compared
with Quarter ended December 2022.
Net sales (including other operating income) of C.E. Info Systems has increased
36% to Rs 92.02 crore.
Operating profit margin has declined
from 41.19% to 39.13%, leading to 29.21% rise in operating profit to Rs 36.01
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 17.91% to 15.22%. Employee cost
decreased from 24.95% to 21.00%. Other expenses rose from 15.95% to
24.65%. Selling and administration expenses rose from 6.00% to
10.13%.
Other income rose 8.77% to Rs 11.54
crore. PBIDT rose 23.57% to Rs 47.55 crore. Provision for
interest rose 5.56% to Rs 0.76 crore.
PBDT rose 23.91% to Rs 46.79
crore. Provision for depreciation rose 93.30% to Rs 3.75
crore.
Profit before tax grew 20.16% to Rs
43.04 crore. Share of profit/loss was 691.67% lower at Rs -0.95
crore. Provision for tax was expense of Rs 11.05 crore, compared to
Rs 6.04 crore. Effective tax rate was 26.25% compared to 16.92%.
Minority interest increased 1,350%
to Rs 0.29 crore. Net profit attributable to owners of the company
increased 3.74% to Rs 30.75 crore.
Promoters’ stake was 52.91% as of 31
December 2023 ,compared to 53.31% as of 31 December 2022 .
For year-to-date (YTD) results
analysis.
Net sales (including other operating income) of C.E. Info Systems has increased
30.40% to Rs 272.51 crore.
Operating profit margin has jumped
from 42.28% to 42.84%, leading to 32.13% rise in operating profit to Rs 116.74
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 15.54% to 15.20%. Employee cost
decreased from 23.89% to 20.51%. Other expenses rose from 18.29% to
21.45%. Selling and administration expenses fell from 6.79% to
6.67%.
Other income rose 5.53% to Rs 25.77
crore. PBIDT rose 26.37% to Rs 142.51 crore. Provision
for interest rose 12.50% to Rs 2.16 crore.
PBDT rose 26.61% to Rs 140.35
crore. Provision for depreciation rose 83.97% to Rs 10.67
crore.
Profit before tax grew 23.45% to Rs
129.68 crore. Share of profit/loss was 1,076.92% lower at Rs -1.53
crore. Provision for tax was expense of Rs 32.01 crore, compared to
Rs 25.69 crore. Effective tax rate was 24.98% compared to 24.49%.
Net profit attributable to owners of
the company increased 21.17% to Rs 96.03 crore.
Promoters’ stake was 52.91% as of 31
December 2023 ,compared to 53.31% as of 31 December 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 76.09 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 increased to Rs 51.71 crore as of 31 March 2023
from Rs 39.19 crore as of 31 March 2022. Intangible assets increased
from Rs 4.22 crore to Rs 4.34 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 Q3FY24 and 9MFY24 results, Rakesh Verma,
Chairman & Managing Director, MapmyIndia, said “We’re happy that MapmyIndia
crossed for the first time a milestone of
Rs 100 Cr+ quarterly Total Income, and again achieved all-time high in
Revenue in Q3FY24, growing 36% YoY to Rs 92 Cr, while YTD Revenue has touched
Rs 272.5 Cr. EBITDA in Q3FY24 grew 38% to Rs 38.6 Cr and YTD grew 32% to Rs
116.6 Cr, with overall YTD EBITDA margin at 43%. YTD Map-led EBITDA margin
remains strong at 55.1%. IoT-led EBITDA margin has expanded to 10% in Q3FY24
versus 8.2% in Q2FY24, and in YTD stands at 8.2% expanding 730 bps YoY. YTD PAT
is robust at Rs 96.2 Cr growing 21% YoY, with PAT margin at 32%. Q4FY24 will be
exciting. Not just are we happy with the growth of our core B2B and B2B2C
business, we are also pleased to see our consumer business take shape with
increased brand awareness & product uptake.”
Rohan Verma, CEO & Executive Director, MapmyIndia, said
“We are excited about Q4FY24, with a strong order book build up based on very
large new wins and look forward to sharing developments shortly. YTD (9MFY24)
Revenue growth was broad-based, with A&M up 19.5%and C&E up 43.1% on
the market side, while Map & Data was up 37.6% and Platform &IoT was up
26.5% on the product side. We had multiple wins and go-lives across our Auto
OEM NCASE suite with an exciting funnel ahead. We also had multiple wins and
go-lives across consumer tech companies & enterprises and in the government
based on Map-led &IoT-led digital transformation. We started a strong
360-degree marketing push for our consumer business, which was highly
effective, yet cost-efficient in increasing MapplsMapmyIndia brand awareness
and product traction. We’re happy to see the start of ad-revenue monetization
of our App & sales growth of our Gadgets.
| C.E. Info Systems : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 92.02 | 67.66 | 36.00 | 272.51 | 208.98 | 30.40 | 281.46 | 200.44 | 40.42 | | OPM (%) | 39.13 | 41.19 | -206 bps | 42.84 | 42.28 | 56 bps | 41.89 | 43.01 | -111 bps | | OP | 36.01 | 27.87 | 29.21 | 116.74 | 88.35 | 32.13 | 117.91 | 86.20 | 36.79 | | Other Inc. | 11.54 | 10.61 | 8.77 | 25.77 | 24.42 | 5.53 | 34.32 | 41.55 | -17.40 | | PBIDT | 47.55 | 38.48 | 23.57 | 142.51 | 112.77 | 26.37 | 152.23 | 127.75 | 19.16 | | Interest | 0.76 | 0.72 | 5.56 | 2.16 | 1.92 | 12.50 | 2.79 | 2.16 | 29.17 | | PBDT | 46.79 | 37.76 | 23.91 | 140.35 | 110.85 | 26.61 | 149.44 | 125.59 | 18.99 | | Depreciation | 3.75 | 1.94 | 93.30 | 10.67 | 5.8 | 83.97 | 9.9 | 8.26 | 19.85 | | PBT | 43.04 | 35.82 | 20.16 | 129.68 | 105.05 | 23.45 | 139.54 | 117.33 | 18.93 | | Share of Profit/(Loss) from Associates | -0.95 | -0.12 | -691.67 | -1.53 | -0.13 | -1,076.92 | -0.28 | 0 | - | | PBT before EO | 42.09 | 35.7 | 17.90 | 128.15 | 104.92 | 22.14 | 139.26 | 117.33 | 18.69 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 42.09 | 35.7 | 17.90 | 128.15 | 104.92 | 22.14 | 139.26 | 117.33 | 18.69 | | Taxation | 11.05 | 6.04 | 82.95 | 32.01 | 25.69 | 24.60 | 31.73 | 30.26 | 4.86 | | PAT | 31.04 | 29.66 | 4.65 | 96.14 | 79.23 | 21.34 | 107.53 | 87.07 | 23.50 | | Minority Interest (MI) | 0.29 | 0.02 | 1,350.00 | 0.11 | -0.02 | PL | 0.28 | 0.04 | 600.00 | | Net profit | 30.75 | 29.64 | 3.74 | 96.03 | 79.25 | 21.17 | 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 | 30.75 | 29.64 | 3.74 | 96.03 | 79.25 | 21.17 | 107.25 | 87.03 | 23.23 | | EPS (Rs)* | 5.69 | 5.48 | 3.74 | 17.76 | 14.66 | 21.17 | 19.83 | 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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