C.E. Info Systems Ltd (MAPMYINDIA) Q2FY27 Concall Transcript - Sep-2026 Qtr
Moderator: Ladies and gentlemen, you are connected for CE Info Systems earnings conference call. Please stay connected, the conference will begin shortly. Ladies and gentlemen, you are connected for CE Info Systems earnings conference call. Please stay connected on the line, the conference will begin shortly. Thank you.
Moderator: Ladies and gentlemen, good day and welcome to CE Info Systems Q2 FY '27 earnings conference call hosted by DAM Capital Advisors Limited. As a reminder, all participants' lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Anmol Garg from DAM Capital Advisors Limited. Thank you and over to you, sir.
Anmol Garg (DAM Capital Advisors Limited): Yeah. Thanks, Iqra. Good evening, everyone. On behalf of DAM Capital, we welcome you all to Q2 FY '27 conference call of MapmyIndia.
Anmol Garg (DAM Capital Advisors Limited): Mr. Rohan Verma, Joint MD. And I'll now hand over the call to Mr. Rakesh Verma for his opening remarks. Post that we can start with the Q&A session with the entire management team. Over to you, sir.
Rakesh Verma (C.E. Info Systems Ltd): Thank you, Anmol. This is Rakesh Verma and good afternoon to all the participants. I'll be doing a short introduction for today's. And then I'll ask Rohan to add more color to it. And then we leave it to for Q&A. Let me say something which is, which will be good for the investors to understand MapmyIndia one a bit better. See, there are five different things we consider in running the business. One is the market segment, which is automotive, enterprise, and government. And the other is the product solutions, which is map-led and IoT-led. Now these are the five things or five areas that MapmyIndia looks at from a holistic perspective to see how our business keeps growing. What it means is there might be one impact on one part of it in one quarter. That might be another impact on another area in another quarter. So this is something for all of all the participants and investors need to understand that. Keeping that in mind, I'll say that for the last three quarters MapmyIndia has been registering a very good growth in all the three parts, be it revenue, or EBITDA, or PAT. In this quarter, Q2, year on year, revenue has grown 15.8%. For the EBITDA has grown 60% and PAT has grown 90%. If we if we look at the half year for the H1, the revenue has grown 18.4%. EBITDA has grown 20.4%, and PAT has grown 32%. Now, if I let tell you some other qualitative things, I would like to share with you that the management is investing in its technology in a big way for the for future readiness and in that context we are further strengthening leadership team across technology, product, and business to support the next phase of growth. In parallel, we are embedding AI, ML, and neural networks across our map-led and IoT-led platforms, spanning intelligent mapping, navigation, in-vehicle intelligence, telematics, analytics, and work workflow in automation, backed by over three decades of technology innovations, proprietary data, deep domain expertise, and its differentiated and its differentiated geospatial and IoT platform, we are well positioned to accelerate AI-led innovation, create new growth opportunities, and drive sustainable profitable growth. Let me I'll ask Rohan to give you more color to the way the business happened during the Q2 and whatever guidance he has to give for the future.
Rohan Verma (C.E. Info Systems Ltd): Thank you, Mr. Verma, and good afternoon, everybody. I'll start by kind of talking about how the map-led and IoT-led business both did. seeing strong growth across both of the segments. Map-led in Q2 you know reached 76.7 crores. EBITDA margin was 41.6% and in the first half of the year EBITDA margin for map-led was 47%. IoT-led reached 55.1 crores of revenue and EBITDA margin of 23.8% in Q2 and H1 IoT-led margin was around 19.2%. So, we are seeing strong EBITDA margins in both the both the product-led businesses. Now when it comes to automotive, enterprise and
Rohan Verma (C.E. Info Systems Ltd): our market-wise segments, we saw pretty strong growth in automotive, growing about 52% in Q2 and 40% overall in H1 and a bunch of interesting wins were there when it comes to automotive, especially now in the commercial vehicle segment with our navigation solution localized for that, as well as a leading two-wheeler OEM you know, where we secured the contract renewal, besides a bunch of new go-lives across four-wheeler, two-wheeler and more IoT, you know, deployments across line fitment and aftermarket implementation. Then enterprise also had a pretty strong growth of 44% in Q2. And again, some very, very interesting wins, especially some very large delivery, last-mile delivery and quick commerce, as well as, you know, last-mile logistics customers. One very large customer we won this this this past quarter, especially for the entire software stack, which is based on our workflow workforce automation solution. And also an existing very large quick commerce customer of ours continue to scale very high in terms of their volumes 5x, which is a good thing from our from our perspective, as well as a quick commerce customer is using us for their analytics for dark store expansion. Similarly, on the BFSI side, you know, some interesting customers for our GeoVerify and GeoFy platform, NBFCs, and and so on. And a large telecom operator for their kind of network expansion. Finally, on the government side, you know, compared to last quarter last year same quarter, there was a one-off revenue win that that year that quarter. So revenue has de-grown compared to that. But in this quarter, compared to previous quarter, revenue has grown. We focused on some key go-lives like in the oil and gas upstream sector, a kind of digital twin for underground and overground, as well as in the national disaster response segment, our first win there, which itself can become a very large vertical going forward. And some other wins are also there in the government side. In general, for when it comes to kind of the financial management for the company, inventory has been, you know, brought down to half, so that management is going well. Customer collections timelines are steady right now. We of course want to keep improving it. And in terms of kind of our cash flows are strong and we're settling supplier accounts faster. So that's an overall on the on the different parts of the business. Yes, Anmol, you can now--
Moderator: Okay. So thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question may press star and one on the touchtone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use headsets while asking a question. Ladies and gentlemen, we'll wait for a moment while the question queue assembles. The first question is from the line of Anmol Garg from DAM Capital Advisors. Please go ahead.
Anmol Garg (DAM Capital Advisors): Thanks, thanks, thanks. Sir, I have couple of questions that I wanted to understand. One is on the seasonality in the consumer enterprise business. So if you can indicate why there is so much variation from a quarterly perspective in in that business, if you can explain that a little bit, that would be helpful.
Rohan Verma (C.E. Info Systems Ltd): Sure, Anmol. From a seasonality point of view, I think one of the slides we have shared is on the quarter-wise revenue trends across automotive, enterprise, and government. So when you say C&E, that's old way of us presenting it. New way is enterprise, government and automotive. And yes, there is a seasonality. You can see it in the last 8-12 quarters, I think we have broken it out. Typically enterprise sees some peaks in Q1 and Q4, and government over the course of the year, especially towards Q4, goes up. And automotive has kind of a build up and then-- So there is a seasonality. This is just dependent on the different dynamics of different contracts of different customers.
Anmol Garg (DAM Capital Advisors): Sure, Rohan. I was just asking about the enterprise segment. So, what leads to this kind of seasonality in in that business because
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