Key Executives
• Co-Founder and Chairman: Rakesh Verma
• CEO: Rohan Verma
• CFO: Anuj Jain
Financial Performance
• Revenue Growth:
• Increased by 13.5% to INR 101 crores
• EBITDA rose by 14.3% to a margin of 42.8%
• PAT grew by 12% to nearly INR 36 crores
• Revenue Breakdown:
• INR 78 crores from Map-led business
• INR 23.5 crores from IoT-led business
• Hardware Sales: Decreased from INR 15 crores to INR 8.9 crores, but service sales increased.
Business Developments
• Customer Acquisition: New customers and expanded relationships, especially in the automotive sector.
• Product Launches: Advanced e-horizon and ADAS solutions.
• Legal Dispute: Addressed contract breaches with Ola Electric, reaffirming market position.
Future Outlook
• IoT and SaaS Growth: Optimism about future growth despite current hardware revenue decline.
• Revenue Target: Aiming for INR 1,000 crores by FY '27/'28.
Market Position and Competition
• Mapping Technology: Ongoing innovations and real-time updates.
• Competitive Edge: Strong customer loyalty and quality assurance against competitors.
Strategic Partnerships
• ClarityX Partnership: Revenue fully accrued to MapmyIndia, enhancing AI-based analytics and consulting.
Management Insights
• EBITDA Margin Guidance: Remains intact, with focus on long-term growth.
• Automotive Segment: New contracts with Hyundai-Kia generating revenue; emphasis on upselling features.
Stakeholder Engagement
• Year-over-Year Performance: Encouraged stakeholders to focus on long-term trends rather than quarterly fluctuations.

Earnings Highlights
• Total Income: INR 417.6 crores
• Revenue Growth: 35% increase in revenue from operations to INR 379.4 crores
• EBITDA Margin: 41%
• Open Order Book: 49% growth, reaching INR 1,372 crores
• New Order Bookings: 63% increase annually
• IoT Business Growth: 91% year-on-year revenue increase
Key Discussions
• Importance of Hardware and SaaS:
• Rakesh Verma emphasized the hardware component's role in the INR 1,000 crore business.
• IoT business includes significant SaaS elements.
• New Contracts:
• Discussion of a new INR 400 crore contract with Hyundai and Kia.
• Expected positive impact on map-led business starting Q2.
• Revenue Distribution and Competition:
• Rohan Verma explained broad service offerings and potential cooperation with competitors.
• Partnerships and Growth Strategies:
• Focus on monetization strategies for the Mappls App in FY '25.
• Anticipation of more contracts following successful partnerships.
Financial Insights
• Revenue Breakdown:
• Approximately INR 100 crores of INR 380 crores revenue from new orders in FY '24.
• EBITDA Margin and Cash Balance:
• Emphasis on business growth over immediate cash returns.
• Geospatial Market Opportunities:
• Positive developments in international and consumer markets.
Technology and Innovation
• Focus on Product Solutions:
• Rakesh Verma highlighted the strategy of leveraging intellectual property.
• Drone Technology Integration:
• Significant role in solutions, though not separately reported yet.
• Intangible Assets and Investments:
• Healthy organic investments reflected in increased intangible assets.
Board Expansion
• New Directors Inducted:
• Rashmi Verma (Co-Founder and CTO) and Sundar Rajagopalan (expert in consumer, tech, marketing, and media).
• Board Composition:
• Diverse qualifications with five independent women directors.
Closing Remarks
• Emphasis on maintaining strong financial performance and growth strategies.
• Acknowledgment of the moderator and participants.

Earnings Highlights
• Record Revenue: INR 92 crores for Q3, 36% YoY growth.
• Year-to-Date Revenue: INR 272.5 crores, 30% increase.
• EBITDA Growth: 38% increase to INR 38.6 crores; EBITDA margin at 43%.
• Profit After Tax (PAT): INR 96.2 crores, up 21% YoY.
• IoT Segment: Improved EBITDA margins at 10%.
Executive Insights
• Rakesh Verma (Co-Founder & Chairman):
• Optimistic about Q4 FY2024 growth in B2B and consumer segments.
• Targeting INR 1,000 crores in revenue over the next 4-5 years with 35%-40% CAGR.
• Rohan Verma (CEO):
• Strong order book and revenue growth across segments.
• Emphasis on marketing strategies and brand awareness.
Segment Performance
• Year-to-Date Growth by Segment:
• A&M: 19.5%
• C&E: 43.1%
• Map & Data: 37.6%
• Platform & IoT: 26.5%
Cost Management and Strategy
• Marketing Expenses: INR 5.3 crores for Q3, focused on cost-effective strategies.
• Cloud Hosting Charges: Expected to rise but managed through hybrid cloud optimizations.
International Expansion and Government Revenue
• Customer-led Approach: Focus on enhancing global maps and software capabilities.
• Government Sector: Selective engagement, maintaining 5-10% historical contribution.
Drone Business Insights
• Revenue Model: Initial engagements may be one-time, but recurring business expected through continuous services.
• Monetization: Revenue from drone sales, services, and data integration.
Client Retention and User Engagement
• Automotive Sector: 100% client retention rate confirmed.
• Mappls App: Highly engaged user base with plans for detailed metrics sharing.
Future Growth and Funding
• Equity Capital Plans: INR 500 crores to support international growth and consumer segments.
• Mobility Segment Contribution: Significant addressable market with IoT devices and SaaS integration.
Marketing and Sales Strategy
• Marketing Expenses: Absorbed in Map-led segment to enhance brand visibility.
• Sales Strategy: Focus on SaaS revenue growth despite stagnant hardware sales.
Qualified Institutional Placement (QIP)
• Approval: QIP approved by shareholders, with plans to proceed when conditions are favorable.
Conclusion
• The call concluded with insights on a balanced growth strategy, combining organic and inorganic approaches for future investments.

Earnings Call Overview
• Date: November 1, 2023
• Transcript submitted to BSE and NSE on November 8, 2023
• Key executives discussed financial performance for Q2 and H1 FY2024
Financial Performance Highlights
• Q2 FY2024 Results:
• Revenue: Rs. 91.1 crores (19.4% YoY increase)
• EBITDA: Rs. 40.5 crores (32.5% increase)
• PAT: Rs. 33.1 crores (30.3% increase)
• H1 FY2024 Results:
• Revenue growth: 27.7%
• EBITDA growth: 28.9%
• PAT growth: 31.2%
• Improvements in EBITDA margins and cash reserves exceeding Rs. 500 crores
Business Segment Growth
• Automotive and Mobility Tech (A&M):
• Faster volume growth in Automotive OEM solutions
• Notable wins in navigation software and shared mobility
• Consumer Tech and Enterprise (C&E):
• Revenue growth: 32% YoY
• Fluctuations due to contract nature in BFSI and Ecommerce sectors
• Successful launch of B2C app with over 10 million downloads
Competitive Landscape and Strategy
• "Land and Expand" Strategy:
• Entering accounts with initial use cases and upselling over time
• Challenges for New Entrants:
• Complexities in building mapping solutions (data conversion, real-time updates)
• Market Position:
• Strong in map data and IoT solutions, with a competitive moat
Financial Projections and Concerns
• Optimism for second half of FY2024 with strong customer acquisition pipeline
• Addressed concerns about increased receivables and overdue payments
• Strategic shift towards subscription-based revenue models improving IoT margins
Future Growth and Opportunities
• Investment in 3D mapping and drone technology
• Potential for upselling in B2C app MAPPLS and Kogo Tech Labs
• Expected higher growth rates in map-led business and continued margin enhancement in IoT
Conclusion
• Overall positive outlook for future growth and financial performance
• Emphasis on operational efficiency and strategic investments to maintain margins

Company Overview
• Date of Call: April 24, 2023
• Executives Present: Rakesh Verma (Co-Founder & Chairman), Rohan Verma (CEO), Anuj Jain (CFO)
• Financial Performance:
• FY2023 revenue: INR 282 crores (41% increase)
• Profit after tax: INR 108 crores (24% increase)
• EBITDA margin: 42%
Key Financial Highlights
• Revenue Growth:
• Consumer tech and enterprise digital transformation: 48% increase to INR 130 crores
• Automotive & mobility tech: 34% increase to INR 152 crores
• IoT segment: 140% year-on-year growth
• Order Book:
• Open order book: INR 918 crores (31% increase)
• New customer additions: Over 250
Strategic Focus
• IoT Integration:
• Emphasis on a hardware-led IoT model with long-term SaaS revenue potential.
• Exploring both selling and renting devices.
• Market Opportunities:
• Expansion in consumer apps, gadgets, and the drone market.
• Upselling potential in the automotive sector (9-10% market penetration in India).
Growth Guidance
• Projected Growth:
• Targeting 40% revenue growth for FY '24.
• Confidence supported by existing order book and anticipated new bookings.
Revenue Sources and Customer Dynamics
• Revenue Composition:
• Approximately half from the open order book.
• Focus on minimizing churn in the IoT business.
• Customer Acquisition:
• Majority of new customers are corporate clients, especially in automotive.
Challenges and Considerations
• Market Fluctuations:
• Acknowledgment of external factors affecting revenue, such as semiconductor shortages.
• Profitability Concerns:
• Disparity between revenue growth (40%) and net profit growth (24%) noted.
• Potential for improved margins as the IoT business scales.
Conclusion
• Long-term Vision:
• Commitment to building a technology-driven company with sustained growth and profitability.
• Employee Strategy:
• Focus on hiring skilled personnel to support growth without proportional increases in employee costs.

Financial Performance Highlights
• Revenue Growth:
• 56% YoY increase to ₹68 crores for Q3 FY2023.
• 46% revenue increase year-to-date, totaling ₹209 crores.
• EBITDA and PAT:
• EBITDA rose 67% to ₹28 crores (41.1% margin).
• PAT increased 61% to ₹30 crores (38% margin).
• Expense Management: Focus on revenue growth while optimizing expenses.
Segment Performance
• Automotive and Mobility Tech (A&M):
• 45% YoY revenue growth.
• Significant wins with new contracts for NCASE solution.
• Consumer Tech and Enterprise (C&E):
• 76% YoY revenue increase.
• Growth through multi-year contracts with major tech companies.
Strategic Insights
• IoT Business: Expected to drive future high-margin SaaS revenue.
• Innovation Focus: Advancements in mapping, geospatial analytics, and drone solutions.
• Investments: Strategic investments in small companies, particularly in the drone sector.
Q&A Session Highlights
• Order Book and Client Additions: Detailed metrics to be disclosed at year-end; quarterly updates on new customer wins.
• Competition with Google: Rohan Verma emphasized focus on B2B and B2B2C markets.
• Dividend Policy: Decisions based on cash requirements for strategic investments; announcement expected in May.
Additional Discussions
• Revenue Growth Clarifications: Rohan suggested looking at year-to-date trends for a clearer picture.
• Operating Expenses: Rakesh noted sustainability depends on revenue growth and profitability.
• Future Outlook: Optimism expressed for continued growth and performance improvements.