Map My India Share Fundamental analysis

Map My India (C.E. Info Systems Ltd) is a leading provider of digital maps, location data, and navigation services in India.

Map My India Share Price Prediction

About Map My India

The company offers a range of products and services, including digital maps, GPS navigation, location-based services, and geographic information systems (GIS). MapmyIndia’s products and services are used by businesses, governments, and individuals for a variety of purposes, including fleet management, asset tracking, emergency response, and route planning. MapmyIndia has a comprehensive map database that covers all of India, including cities, villages, and rural areas. The company’s maps are updated regularly to ensure accuracy and reliability. MapmyIndia’s products and services are available online and through a range of mobile apps for iOS and Android devices.

History of Map My India

MapmyIndia was founded in 1992 by Rakesh Verma, a graduate of the Indian Institute of Technology Delhi. The company began as a provider of mapping and GIS services to businesses and government organizations in India. In the years since its founding, MapmyIndia has become a leading provider of digital maps and location data in India, with a comprehensive map database covering the entire country. The company has also developed a range of products and services for businesses, governments, and individuals, including GPS navigation, location-based services, and asset tracking. MapmyIndia has also played a key role in advancing the use of GIS and location data in India, partnering with organizations and governments to develop and implement GIS-based solutions for a variety of purposes.

Company Overview

Company	C.E. Info Systems Ltd
Company Website:	mapmyindia.com
Market Cap (Cr.)	₹ 5,592.53
High / Low	₹ 1,918.35/1,037.00
Stock P/E	61.72
Book Value	₹   92.9
P/B (Price to Book Value)	11.38
Face Value	₹ 2.00
ROCE	21.1 %
ROE	18.43%
Dividend Yield	0.19

Business Overview:

The company offers proprietary digital maps as a service (“MaaS”), software as a service (“SaaS”) and platform as a service (“PaaS”), including its advanced digital map data, software products, platforms, application programming interfaces (“APIs”), IoT and solutions to new-age tech companies, large businesses, automotive OEMs, government organisations, developers and consumers.

MapmyIndia operates a comprehensive map database covering the entire Indian territory, including cities, villages, and rural areas. The company’s maps are updated regularly to ensure accuracy and reliability. MapmyIndia’s products and services are available online and through a range of mobile apps for iOS and Android devices.

Some of the key products and services offered by MapmyIndia include:

• Digital maps: MapmyIndia offers a range of digital maps for different purposes, including street maps, satellite maps, and topographic maps. These maps are available online and through mobile apps, and can be used for a variety of purposes, including route planning, asset tracking, and emergency response.
• GPS navigation: MapmyIndia offers GPS navigation services for cars, trucks, and other vehicles. The company’s navigation system includes real-time traffic updates, lane guidance, and 3D building views.
• Location-based services: MapmyIndia offers a range of location-based services, including geocoding, reverse geocoding, and location analytics. These services can be used by businesses and governments to track and analyze location data, and to develop location-based applications and solutions.
• Geographic information systems (GIS): MapmyIndia offers GIS services and solutions for businesses, governments, and individuals. These services can be used for a variety of purposes, including asset tracking, emergency response, and land management.
• MapmyIndia also provides a range of consulting and support services to help organizations and individuals make the most of its products and services.

Map my India mapped data

Map My India mapped data

Map My India Share Price Target 2023: Technical Analysis

Map My India Share Analysis:

Map my India share chart (Source: Tradingview)

In 20 Dec 2021, Map my India share was listed on exchange with 155x subscription in its IPO, and within 4 days share has hit its all time high of ₹1918.

From there the correction started in the share and tested 3 times its support level of ₹1250, but recently in the 4^th attempt the share has breached its support level  and  now trading below its support around ₹1040.

Now we can expect further downside, if we talk about resistance level then ₹1134 to ₹1250 should be a strong resistance level for the May my India stock.

MAP MY INDIA Share Price Target 2023

Year	MAP MY INDIA Share Price in 2023
2023	₹1130 to ₹1240

Map My India Company Overview

Map My India is a data and technology products and platforms company, offering proprietary digital maps as a service (“MaaS”), software as a service (“SaaS”) and platform as a service (“PaaS”). As per Frost & Sullivan, we are India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies.

• Having pioneered digital mapping in India Map my India have earned market leadership position in this industry.
• Company provide products, platforms, application programming interfaces (“APIs”) and solutions across a range of digital map data, software and IoT for the Indian market under the MapmyIndia brand, and for the global market under the Mappls brand.
• Map my India serviced over 2,000 enterprise customers since its inception.
• During Financial Year 2022 they had over 600 customers on their  SaaS, PaaS and MaaS platforms.
• Their customers portfolio includes marquee and renowned global tech giants, new-age consumer internet technology companies, leading automotive manufacturers, large businesses across industry segments such as BFSI, telecom, FMCG, industrials, logistics and transportation, and key government organisations.
• Some of thier customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network (“GSTN”).

How Map my India earns (Business Model)

• Map May Inda derives majority of their revenue from B2B and B2B2C enterprise customers. Their business model is to charge their customers fees per period on a per vehicle, per asset, per transaction, per use case or per user basis, as applicable.
• Accordingly, such payments take the form of subscription fees, royalties or annuities for licenses and usage rights to their proprietary digital MaaS, PaaS and SaaS offerings.
• Subscription fees and royalty and annuity payments together contributed 92% of our revenue from operation for Fiscal 2022.

Map my India Share Price Target 2024-2025

Financial year 2022-23 result would be very crusial for investor to decide wheter there could be a further downside or we see some upmove in map my india share price. Here is the expectation for the share price in coming years.

Map my India Share Price Target 2024

Year	Map my India Share Price in 2024
2024	₹1300 to ₹1360

MAP MY INDIA Share Price Target 2025

Year	MAP MY INDIA Share Price in 2025
2025	₹1530 to ₹1610

Financial Review

Consolidated Financial Performance for the Year ended March 31, 2022

• Assets: Total assets increased by 21% to Rs. 51,655 lakhs for FY 2021-22 from Rs. 42,741 lakhs for the FY 2020-21, due to Increase in Goodwill and intangible assets on account of acquisition of 75.98% stake in Gtropy Systems Pvt Ltd by CE Info Systems.
• Equity : Total equity increased by 25% to Rs. 44,582 lakhs for the FY 2021-22 from Rs. 35,774 for the FY 2020-21.
• Dividend: Company paid interim dividend  of RS 1,066 lakhs out of his profit.
• Revenue: Revenue from oprations RS 20,044 lakhs, in FY2022 up 31% increase  from RS 15,246 laksh in FY 2021.
• Profit after tax (PAT) in FY2022 stood at RS 8707 lakhs (Up 46% YOY) from RS 5982 lakhs in FY2021. 
• How ever in financial year 2022 quarterly resulted company has not delivered the good results.
• Company promoter have also decreased their stake.

Map my India revenue and earnings chart

Order book highlights

• Open Order Book as of April 01, 2022, stood at Rs. 699.6 Crores vs Rs 377.5 as of April 01, 2021.
• Historically the Open Order Book to Revenue conversion ratio has been 3-5 years.

Map my India order book in recent years

Acquisiton

Acquired  75.98% stake  in Gtropy ( IoT & Logistics SaaS company)

Pros

• Company has low debt almost debt free.
• In india company is the market leader in this types of unique business.

Cons

• Stock is trading at 11.2 times its book value
• Promoter holding has decreased over last quarter: -0.42%
• Company has a low return on equity of 13.3% over last 3 years.
• Earnings include an other income of Rs.34.3 Cr.
• Working capital days have increased from 36.7 days to 69.7 days

MAP MY INDIA Share Price Target 2030

Year	MAP MY INDIA Share Price in 2030
2030	₹2800 to ₹3200

Company Highlights since inception

• 1995 Pioneered the building of India’s first digital maps product
• 2004 Launched India’s first internet mapping portal & technology platform
• 2007 Launched the first pan-India GPS navigation system, foraying into auto OEM tech
• 2011 Launched IoT (GPS-based telematics) platform for fleet management
• 2016 Building transportation, logistics and workforce automation platforms
• 2017 Building AI-powered 4D HD Digital Map Twin of the Real World and

Launched unique digital  address system, now called Mappls Pin

• 2019  Launched geospatial analytics and GIS platform and

Launched N-CASE mobility suite for Digital Vehicle Transformation

• 2020  Launched Location-powered Enterprise Digital Transformation Suite and

Launched real-time covid maps to combat crisis

• 2021 Company goes public in Dec 2021, IPO subscribed 155x and debuted with

market cap of Rs. 8417 Cr  and

• Partnered with ISRO to offer India’s best, and completely indigenous, mapping portals, apps,

and  geospatial software

• 2022   Mappls global platform released with integrated maps of 200+ countries & territories

Outlook

• India’s information and communication technology (“ICT”) sector, valued at USD 180 billion (INR 13.3 trillion) in 2020, is projected to reach USD 360 billion (INR 26 trillion) by 2025.
• Geographical expanse of India: The seventh largest country in the world, India is spread across a total landmass of about 3.3 million square kilometres, and has 28 states and 8 Union territories.
• India has the world’s second largest road network after the United States of America spanning over 6.4 million kilometres.
• This road network is used to transport more than 64% of all the goods in the country and 90% of the total passenger traffic commutes using this road network.
• The expanding road network is an opportunity for growth in GIS (“Geospatial Information System”) services and navigational services market.
• As per Frost & Sullivan’s Report on Digital Maps and Location Intelligence Technology & Services Market B2B(2C), the total Indian addressable market of digital maps and location based intelligence services is expected to grow to USD 7.74 billion (₹ 474.9 billion) in 2025 at around 15.5% CAGR from 2019 to 2025.
• The total global addressable market stood at around USD 86.55 billion (₹ 6.4 trillion) as of 2020 and is expected to reach around USD 173.61 billion (₹ 12.9 trillion) by 2025 growing at a CAGR (2019-2025) of 13%. (Source: F&S Report)
• Mobile navigation devices, the wide usage of 3D platforms and advanced survey technology, digital mapping etc., are the key driver for growth in the total addressable market. (Source: F&S Report)
• As defined by Frost and Sullivan in this report, the Digital Maps and Location Intelligence Services market consists of two broad segments, which are delivered in a B2B and a B2B2C setting.

Digital Maps Services market:

• The total market for Indian digital map services is expected to grow from USD 1.7 billion (₹ 126.14 billion) in 2019 to USD 4.2 billion (₹ 311.64 billion) in 2025 at a CAGR of 16.1% between 2020 and 2025. (Source: F&S Report)
• The global digital map services total market is expected to grow from USD 70.9 billion (₹ 5.26 trillion) in 2019 to USD 151.9 billion (₹ 11.27 trillion) in 2025 at a CAGR of 13.6%. USD 151.9 billion (₹ 11.27 trillion) in 2025. (Source: F&S Report)

Navigation Solutions and Telematics Market:

• the total market in India for navigation solutions and telematics market is expected to grow from USD 20.5 billion (₹ 1.52 trillion) in 2020 to USD 44.9 billion (₹ 3.33 trillion) in 2025 at a CAGR of 15.4% from 2019 to 2025. (Source: F&S Report)
• USD 44.9 billion (₹ 3.33 trillion) in 2025 is expected to comprise of USD 11.5 billion (₹ 853.3 billion) for N-CASE, USD 7.0 billion (₹ 519.4 billion) for logistics, and USD 26.3 billion (₹ 1.95 trillion) for transportation. (Source: F&S Report)

Opportunities:

CASE Technology:

• In the 21^st Century,  The biggest technological theme that has emerged in the global automotive sector during is CASE — Connected, Autonomous, Shared, and Electric — technologies which have already started taking shape.
• The increased awareness of connected car services, as well as the expanding use of these services is likely to open huge development prospects in the Indian market for navigation solution providers.
• Near real-time traffic and direction information services allow drivers to navigate their vehicles using live traffic data and select the best route.
• Other services include parking services, which displays the availability of parking spaces, weather information systems, which alerts users to climate changes, and concierge services, which provide users with premier services such as notifications regarding various alerts on GPS system screen boards. (Source F&S Report)

Conclusion:

Overall, Company have a unique business model  of navigation and mapping system, and Map my India is the leader in their segment, on other side Google could be a big competitor for it.

We have seen a regular fall in Map my India share price, the reason could be share was trading at very high valuation, still it is trading more than 11 times of its book value, second promoter have decreased their stake, the third reason is in 2022 quaterly results, in last two quarters Map of India didn’t delivered  good results , company have also diluted its equity. These could be major reason of crackdown in Map my India share.

That’s the end of the post “Map My India Share price target 2023, 2024, 2025-2030”. Hope you enjoyed , please write your view below in comment section.

Map My India FAQ

Conntent and image Source: Mapmyindia official web site and Annual Report and Google