On consolidated basis
Quarter ended September 2022
compared with Quarter ended June 2022.
Net sales (including other operating income) of C.E. Info Systems has increased
17.38% to Rs 76.31 crore.
Operating profit margin has declined
from 45.98% to 39.92%, leading to 1.91% rise in operating profit to Rs 30.46
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 8.31% to 7.28%. Purchase of finished
goods cost fell from 7.76% to 6.04%. Employee cost decreased from
23.64% to 23.04%. Other expenses rose from 16.70% to 22.00%.
Other income rose 17.81% to Rs 7.54
crore. PBIDT rose 4.71% to Rs 38 crore. Provision for
interest fell 13.85% to Rs 0.56 crore. Loan funds remained
nil.
PBDT rose 5.05% to Rs 37.44
crore. Provision for depreciation rose 1.57% to Rs 1.94
crore.
Profit before tax grew 5.25% to Rs
35.50 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 10.13 crore, compared
to Rs 9.53 crore. Effective tax rate was 28.54% compared to 28.25%.
Net profit attributable to owners of
the company increased 5.04% to Rs 25.41 crore.
Promoters’ stake was 53.31% as of 30
September 2022 ,compared to 53.73% as of 30 June 2022 .
Quarter ended September 2022
compared with Quarter ended September 2021.
Net sales (including other operating income) of C.E. Info Systems has increased
34.63% to Rs 76.31 crore.
Operating profit margin has declined
from 46.07% to 39.92%, leading to 16.66% rise in operating profit to Rs 30.46
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 8.03% to 7.28%. Purchase of finished
goods cost rose from 0.79% to 6.04%. Employee cost decreased from 31.02%
to 23.04%. Other expenses rose from 14.05% to 22.00%.
Other income fell 44.07% to Rs 7.54
crore. PBIDT fell 4.02% to Rs 38 crore. Provision for
interest fell 1.75% to Rs 0.56 crore. Loan funds remained
nil.
PBDT fell 4.05% to Rs 37.44 crore. Provision
for depreciation rose 1.04% to Rs 1.94 crore.
Profit before tax down 4.31% to Rs
35.50 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 10.13 crore, compared
to Rs 11.71 crore. Effective tax rate was 28.54% compared to 31.56%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 0.08% to Rs 25.41 crore.
Promoters’ stake was 53.31% as of 30
September 2022 ,compared to 65.64% as of 30 September 2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of C.E. Info Systems has increased
41.28% to Rs 141.32 crore.
Operating profit margin has declined
from 45.22% to 42.80%, leading to 33.74% rise in operating profit to Rs 60.49
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 7.42% to 7.78%. Purchase of finished
goods cost rose from 0.90% to 6.87%. Employee cost decreased from
32.67% to 23.32%. Other expenses rose from 14.39% to 19.35%.
Other income fell 38.58% to Rs 13.8
crore. PBIDT rose 9.73% to Rs 74.29 crore. Provision for
interest rose 12.04% to Rs 1.21 crore. Loan funds remained
nil.
PBDT rose 9.70% to Rs 73.08
crore. Provision for depreciation fell 0.52% to Rs 3.86
crore.
Profit before tax grew 10.33% to Rs
69.22 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 19.66 crore, compared
to Rs 16.08 crore. Effective tax rate was 28.40% compared to 25.63%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 6.28% to Rs 49.59 crore.
Promoters’ stake was 53.31% as of 30
September 2022 ,compared to 65.64% as of 30 September 2021 .
Cash flow from operating activities
increased to Rs 42.63 crore for YTD ended September 2022 from Rs 19.32 crore
for YTD ended September 2021. Cash flow used in acquiring fixed
assets during the YTD ended September 2022 stood at Rs 7.87 crore, compared to
Rs 1.36 crore during the YTD ended September 2021.
Full year results analysis.
Net sales (including other operating income) of C.E. Info Systems has increased
31.47% to Rs 200.44 crore.
Operating profit margin has jumped
from 33.71% to 43.01%, leading to 67.70% rise in operating profit to Rs 86.20
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 8.77% to 8.52%. Purchase of finished
goods cost fell from 1.48% to 1.02%. Employee cost decreased from
35.59% to 28.62%. Other expenses fell from 20.26% to 18.96%.
Other income rose 4.37% to Rs 41.55
crore. PBIDT rose 40.06% to Rs 127.75 crore. Provision
for interest fell 14.62% to Rs 2.16 crore. Loan funds declined from
Rs 19.60 crore as of 31 March 2021 to Rs 18.09 crore as of 31 March
2022. Inventories rose to Rs 7.97 crore as of 31 March 2022 from Rs
2.76 crore as of 31 March 2021. Sundry debtors were higher at Rs
43.52 crore as of 31 March 2022 compared to Rs 28.28 crore as of 31 March
2021. Cash and bank balance declined from Rs 67.19 crore as of 31
March 2021 to Rs 60.09 crore as of 31 March 2022. Investments rose
to Rs 296.46 crore as of 31 March 2022 from Rs 268.95 crore as of 31 March 2021
.
PBDT rose 41.62% to Rs 125.59
crore. Provision for depreciation fell 15.71% to Rs 8.26
crore. Fixed assets increased to Rs 39.19 crore as of 31 March 2022
from Rs 30.35 crore as of 31 March 2021. Intangible assets increased
from Rs 2.83 crore to Rs 4.22 crore.
Profit before tax grew 48.74% to Rs
117.33 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 30.26 crore, compared
to Rs 19.06 crore. Effective tax rate was 25.79% compared to 24.16%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 45.49% to Rs 87.03 crore.
Equity capital decreased from Rs
132.80 crore as of 31 March 2021 to Rs 10.65 crore as of 31 March 2022
. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 53.73% as of 31
March 2022 ,compared to 65.64% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 28.76 crore for year ended March 2022 from Rs 81.83 crore for
year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 3.99 crore, compared to Rs 2.21
crore during the year ended March 2021.
Management
Commentary:
Commenting
on the Q2 and H1 FY23 results, Rakesh Verma, Chairman and Managing Director,
MapmyIndia, said: “In Q2 FY23, MapmyIndia delivered another strong performance,
with quarterly revenue up 35% year-on year to an all time high of Rs 76 cr, and
H1 FY23 EBITDA up 32% YoY to Rs 61 cr , and EBITDA margin at 43%. H1FY23 PAT
grew 8% YoY to 50 cr with PAT margin at 32%. We commenced 3 sets of investments
in QFY23that will help accelerate the company’s growth in revenues and earnings
in future. First, in growing the scale of our recently acquired IOT- led
business, Gtrop, which is focused on a very large multi-billion-dollar
addressable market of 20+crore existing vehicles on road in India, which can benefit
from Gtropy and MapmyIndia combined IoT led goods logistics and people mobility
SaaS. Second, in marketing activities to build awareness of the MapmyIndia and
Mappls brands and product portfolio, which will reap rewards in terms of new
customer acquisition and new use case adoption. And third, in cutting-edge
product and platform development which will further expand use cases, addressable
markets, growth engines and moats for MapmyIndia Mappls. We make these
investments responsibly, with an eye towards the future, balancing both short
and long term goals for growth and earnings. Finally, we’re excited about our
inorganic, strategic investment into Kog, a gamified social travel commerce
platform, which opens a new market and use –case for us.”
Rohan
Verma, CEO & Executive Director, MapmyIndia, said “Q2 FY23 was an exciting
quarter for us, with lots of action on all fronts and we’ve ended H1FY23 on a
strong note. Revenue growth for H1FY23 VsH1FY22 continues to be broad based
with A&M (Automotive and Mobility) up 55% and C& E (Consumer Tech and
Enterprise Digital Transformation) up 29% on the market side. On products side,
Map & Data was up 32% and Platform & IoT was up 49%. Our newly acquired
Gtropy business grew fast in QFY23, doubling revenue Vs Q1FY23. As scale and subsequent-
year high margin SaaS income of Gtropy and our IoT-led business kicks in,
Gtropy will enhance its contribution to consolidated profitability of the group.
We’ve calibrated marketing expenses to increase awareness of our brand and
range of MaaS, PaaS, SaaS, Drone and IoT solutions to drive further adoption by
customers, across more vertical, and for more use cases. Our swadeshi Mappls
app and platform is making further inroads, with strong government partnerships,
during an interesting inflection point in India’s Aatmanirbhar journey. We
continue to invest in building out our recently released RealView 360-degree
and Metaverse 3D maps products, as well as our range of developer APIs, N-CASE
suite, Digital Transformation Platform, and our consumer facing Mappls app.
Intergrating Kogo’s social travel commerce platform with our maps and navigation, gives a unique
edge and advantage to our N-CASE suite offerings to Automotive OEM’s and allows
us to reach out to consumer, businesses, government and developers with
altogether new and enhanced offerings. We are optimistic and excited about the
future of the company.”
| C.E. Info Systems : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 76.31 | 56.68 | 34.63 | 141.32 | 100.03 | 41.28 | 200.44 | 152.46 | 31.47 | | OPM (%) | 39.92 | 46.07 | -615 bps | 42.80 | 45.22 | -241 bps | 43.01 | 33.71 | 929 bps | | OP | 30.46 | 26.11 | 16.66 | 60.49 | 45.23 | 33.74 | 86.20 | 51.40 | 67.70 | | Other Inc. | 7.54 | 13.48 | -44.07 | 13.80 | 22.47 | -38.58 | 41.55 | 39.81 | 4.37 | | PBIDT | 38.00 | 39.59 | -4.02 | 74.29 | 67.70 | 9.73 | 127.75 | 91.21 | 40.06 | | Interest | 0.56 | 0.57 | -1.75 | 1.21 | 1.08 | 12.04 | 2.16 | 2.53 | -14.62 | | PBDT | 37.44 | 39.02 | -4.05 | 73.08 | 66.62 | 9.70 | 125.59 | 88.68 | 41.62 | | Depreciation | 1.94 | 1.92 | 1.04 | 3.86 | 3.88 | -0.52 | 8.26 | 9.8 | -15.71 | | PBT | 35.50 | 37.10 | -4.31 | 69.22 | 62.74 | 10.33 | 117.33 | 78.88 | 48.74 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 35.5 | 37.1 | -4.31 | 69.22 | 62.74 | 10.33 | 117.33 | 78.88 | 48.74 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 35.5 | 37.1 | -4.31 | 69.22 | 62.74 | 10.33 | 117.33 | 78.88 | 48.74 | | Taxation | 10.13 | 11.71 | -13.49 | 19.66 | 16.08 | 22.26 | 30.26 | 19.06 | 58.76 | | PAT | 25.37 | 25.39 | -0.08 | 49.56 | 46.66 | 6.22 | 87.07 | 59.82 | 45.55 | | Minority Interest (MI) | -0.04 | 0 | - | -0.03 | 0 | - | 0.04 | 0 | - | | Net profit | 25.41 | 25.39 | 0.08 | 49.59 | 46.66 | 6.28 | 87.03 | 59.82 | 45.49 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 25.41 | 25.39 | 0.08 | 49.59 | 46.66 | 6.28 | 87.03 | 59.82 | 45.49 | | EPS (Rs)* | 4.74 | 4.73 | 0.08 | 9.24 | 8.57 | 7.90 | 16.22 | 11.15 | 45.49 | | | * EPS is on current equity of Rs 10.73 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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