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MapmyIndia: High growth mapping to higher margins

Regulatory barriers to entry favour MapmyIndia. Thus, a monopoly-like positioning means revenue acceleration in the coming years

May 24, 2022 / 10:00 AM IST
MapmyIndia: High growth mapping to higher margins

3D maps will make using app-based cab services easier. (Image credit: Reuters)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

MapmyIndia (CE Info Systems; CMP: Rs 1,310.95; Market Cap: Rs 6,954 crore) has reported a strong set of results for Q4FY22, driven by a 31.5 percent revenue growth and an EBITDA margin of 43.5 percent. Robust demand from automotive OEMs and government projects scaled up the business in FY22. Government business alone accounts for 10 percent of revenue. March-quarter performance  The seasonally strong fourth-quarter performance was highlighted by a 31.5 percent sequential and 20.3 percent year-on-year (YoY) jump in revenue from operations. Revenue from...

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