MAPMYINDIA Q1 FY26 earnings call.
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Revenue
₹121.6 Cr
verified against source
Revenue YoY
19.8%
reported change
EBITDA
₹55.9 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
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What the record says.
CE Info Systems (MapMyIndia) delivered a strong Q1 FY26 with revenue of 121.6 cr (+19.8% YoY), EBITDA of 55.9 cr (+30.6% YoY), and PAT of 45.8 cr (+27.7% YoY). EBITDA margin expanded to 46.0%, underscoring operational leverage. The automotive & mobility segment grew 24.4% YoY driven by higher attach rates and deeper OEM penetration, while consumer tech & enterprise grew 16.1% YoY. The IoT business remained flat due to a transition at subsidiary G-Tropy, but management expects a rebound in coming quarters. Notable strategic moves include a 25 cr investment in Zepto for quick commerce and a 25 cr investment to increase stake in G-Tropy to 96%. The company reiterated its FY28 revenue target of 1,000 cr. Key risk: IoT business turnaround may take longer than expected, given ongoing cleanup and management transition.
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Guidance to track
- Management reiterated confidence in achieving 1,000 cr revenue by FY28, supported by strong Q1 performance and strategic initiatives.
- Management guided for EBITDA margin of 35%+ for FY26, though Q1 came in at 46%.
- Management expects IoT business to return to growth path and improve profitability from next quarter after transition.
- The Hyundai JV (TLT) is in build phase and expected to start generating revenues from end of FY26 or Q1 FY27.
Risks flagged
- IoT business was flat in Q1 due to transition at G-Tropy; management expects improvement but timeline is uncertain.
- Management acknowledged that government business is back-ended, with Q4 typically being the strongest quarter, posing execution risk.
- Analyst raised concern about established players in digital twin space; management argued product-platform approach provides advantage.
- The 25 cr investment in Zepto is strategic but revenue potential is unclear; management declined to provide specific numbers.
Key quotes
- We are confident about the opportunities that lie ahead to achieve our revenue goal of 1,000 cr in FY28.
- We'd rather do all this cleanup and consolidation right now so that from there the growth can be secular.
- The nature of this business is such that it should be observed more on a yearly basis rather than quarter on quarter.
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