Its map-led business EBITDA margins remained at 54%, while IoT-led business EBITDA margins expanded from 1.7% in FY23 to 11.6% in FY24. The revenue from the IoT-led business grew 91% YoY to cross ₹112 crore, with EBITDA growing 13x from Rs 1 crore in FY23 to Rs 13 crore in FY24. The company’s PAT grew 25% to ₹134.4 crore, with PAT margins at 32%. The company’s open order book grew 49% to ₹1,372 crore at the end of FY24.
“2.5+ million new vehicles (4-wheelers, 2-wheelers and CVs, across ICE and EV segments), went built-in with MapmyIndia Mappls, up from 1.9 million during FY23, 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,” the company said, while releasing its Q4 FY24 numbers on May 13, 2024.
The New-based company recorded a 52% growth in the number of IoT devices installed during the year to 2.9+ lakhs, which led to significant growth in our IoT-led business.
C.E. Info Systems is India’s leading deep-tech digital map data, geospatial software and location-based IoT products, platforms, solutions and APIs 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.