C.E. Info Systems: A Rising Competitor to Google Maps

C.E. Info Systems Limited, formerly known as MapmyIndia, has achieved a significant milestone by touching the remarkable price of Rs 2,000 per share today. This marks a remarkable journey, starting from its all-time low price of Rs 984, doubling its value, and now trading above Rs 2,000 per share. This achievement solidifies its position as an emerging competitor to Google Maps.

Based in Hyderabad, C.E. Info Systems Limited is a prominent provider of cutting-edge digital maps, geospatial software, and IoT technologies based on location in India. The company’s offerings are centered around location-based solutions and have gained prominence globally.

In a recent trading session on the BSE, the company’s shares surged by an impressive 11%, propelling them past the significant Rs 2,000 per share mark. The day began with the stock opening at Rs 1,905, reaching an intraday high of Rs 2,107. As of the current writing of this article, it is trading at approximately Rs 2,046 per share. Furthermore, the stock has reached a 52-week high, venturing into uncharted territory.

With a current market capitalization of Rs 10,988 crore, C.E. Info Systems has delivered an impressive return of 104% over the last six months. This stellar performance is a testament to the company’s resilience and its ability to rebound from challenges.

A Remarkable Recovery: From Lows to All-Time Highs

The company’s journey to the Rs 2,000 per share milestone is noteworthy. Its previous all-time high price of Rs 1,917 was recorded on January 17, 2022. Following that peak, it experienced a significant setback, with its stock price plummeting nearly 50% to reach an all-time low of Rs 984 on April 24 of the same year. What’s truly remarkable is that C.E. Info Systems managed to bounce back from this decline within just 158 days. Not only did it surpass its previous all-time high levels, but it continues to trade in uncharted territory.

Chart Presentation (Weekly time frame)

Strong Financial Performance

In the June quarter of FY24, C.E. Info Systems reported a robust financial performance. The company experienced a substantial year-on-year increase of 21% in revenue from operations, rising from Rs 62 crore to Rs 75 crore. It reported an operating profit of Rs 37 crore, compared to Rs 31 crore in the corresponding quarter of the previous year, resulting in an impressive operating profit margin of 50%.

The company’s net profit also witnessed substantial growth, amounting to Rs 33 crore, compared to a profit of Rs 25 crore in the corresponding quarter of the previous year. In the last quarter of FY23, the company reported a net profit of Rs 28 crore.

C.E. Info Systems boasts a strong financial position, with a Return on Equity (ROE) of 29% and a Return on Capital Employed (ROCE) of 22.4%. The stock is currently trading at a price-to-book value ratio of 20 times and a price-to-earnings ratio of 94 times in the market.

Business Overview

C.E. Info Systems operates as a provider of digital maps, geospatial software, and location-based Internet of Things (IoT) technologies. The company’s primary focus revolves around map data and related services. Its core business encompasses a wide range of products and services, including digital map data, GPS navigation, location-based services, licensing, royalties, annuities, subscriptions, and customized solutions tailored to meet the unique needs of its customers.

C.E. Info Systems offers digital maps as a service, software as a service, and platform as a service. These offerings encompass digital map data, software products, platforms, application programming interfaces (APIs), IoT solutions, and services designed to cater to a diverse clientele. This includes tech companies, large enterprises, automotive original equipment manufacturers, government organizations, developers, and consumers.

The company’s geographic information system and geo-analytics platforms, including Insight and mGIS, incorporate location-based APIs with the capability to ingest, process, publish, visualize, and analyze geospatial data. This empowers C.E. Info Systems to provide precise location-based information and solutions that are indispensable in today’s digital landscape.

In summary, C.E. Info Systems has achieved a significant milestone in the world of digital mapping and geospatial technologies. With its remarkable stock performance and strong financials, it is positioned as a formidable competitor to industry giants like Google Maps, making waves in the digital mapping landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.