C.E. Info Systems (MAPMYINDIA) Q4 24/25 earnings summary

Executive summary

• Q4 FY2025 revenue rose 34% year-over-year to INR 143.5 crore, EBITDA up 47% to INR 58 crore, and PAT up 28% to INR 49 crore; full-year FY2025 revenue up 22% to INR 463.3 crore, EBITDA up 15% to INR 179.9 crore, and PAT up 10% to INR 148 crore, with EBITDA margin at 40%.

• Final dividend of INR 3.50 per share (175% of face value) declared for FY2025, subject to shareholder approval.

• Open order book reached INR 1,500 crore, supporting confidence in achieving INR 1,000 crore revenue by FY2028.

• Audited standalone and consolidated financial statements for FY2025 were approved with unmodified opinions from statutory auditors.

• Key board and management changes include re-appointment of the Managing Director, new Group Chairman and Vice-Chairman, and new senior management appointments.

Financial highlights

• Map-led business EBITDA margin at 47%; IoT-led business margin improved from 12% to 14% in FY2025.

• Consumer tech and enterprise digital transformation revenue grew 30% year-over-year to INR 252 crore; automotive and mobility tech revenue up 13% to INR 210 crore.

• Map-led revenue up 29% to INR 345 crore; IoT-led revenue up 5% to INR 117 crore.

• SaaS revenue in IoT-led segment increased to INR 64 crore (over 50% of IoT revenue), up from less than 40% the previous year.

• Cash and cash equivalents increased by INR 100 crore YoY to INR 660 crore.

Outlook and guidance

• Targeting INR 1,000 crore revenue by FY2028, requiring ~30% CAGR over the next three years.

• Management expects continued growth in both map-led and IoT-led businesses, with international automotive revenue expected to ramp up.

• EBITDA margin guidance remains in the 35%-40% range.

• Continued focus on SaaS revenue, technology innovation, and expansion in Southeast Asia.

• Technical services outsource and project software expenses increased significantly, reflecting a strategy to handle larger project-specific business by leveraging external resources.