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MapmyIndia: With two records in Q1, the growth map enjoys a moat

Mapmyindia's revenue growth has been picking up with the expansion of the company's order book and new acquisitions

August 11, 2022 / 05:24 PM IST
MapmyIndia: With two records in Q1, the growth map enjoys a moat

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 1,347.05; Market cap: Rs 7,172 crore) positively surprised the markets with a strong performance across all parameters in Q1FY23 and marked a good beginning for the fiscal year. The company created two records in the quarter -- the highest-ever quarterly revenue of Rs 65 crore, and an EBITDA margin of 46 percent. The recently acquired IOT business, Gtropy, generated revenue of Rs 8 crore in the quarter, with zero EBITDA. Q1FY23 financial performance  (image) (image) Early...

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