MapmyIndia, an Indian superior digital maps and deep-tech merchandise and platforms firm, introduced its monetary outcomes for the second quarter and first half of FY2025, ending on September 30, 2024. The corporate reported income development and introduced a brand new three way partnership with Hyundai Autoever, a subsidiary of Hyundai Kia, to develop its enterprise into Southeast Asia.
MapmyIndia’s board authorized a three way partnership with Hyundai Autoever, the place MapmyIndia will maintain a 40% stake with a USD 4 million funding. This three way partnership, named PT Terra Hyperlink Applied sciences, will likely be based mostly in Indonesia and give attention to offering map-based options for automotive OEMs and different companies throughout Southeast Asia.
Income
The three way partnership is predicted to generate multimillion-dollar income over the following 5 years, with order bookings and income commencing from FY26. MapmyIndia additionally reported its Q2 FY25 income from operations elevated to INR 104 crore, a 14% YoY development. The primary half of FY25 (H1 FY25) noticed income develop to INR 205 crore, in comparison with INR 181 crores in H1 FY24.
Rakesh Verma, Chairman & Managing Director of MapmyIndia, stated, “The three way partnership, named PT Terra Hyperlink Applied sciences, will likely be based mostly in Indonesia and can think about offering map-based options for automotive OEMs and different companies throughout Southeast Asia. Estimated Income of JV can be to the tune of USD multimillion over the following 5 years with order reserving and income commencing from FY26 itself. This JV may even profit present clients of MapmyIndia.”
“Our Q2 FY25 income from operations elevated to INR 104 crore, a 14% YoY development and the primary half of FY25 (H1 FY25) noticed income rising to INR 205 crore as in opposition to INR 181 crores in H1 FY24. EBITDA for H1 FY25 reached INR 80 crore, yielding a margin of 39.1%, in comparison with INR 78 crore and a margin of 43.2% in H1 FY24. EBITDA for Q2 FY25 was INR 37.5 crore, yielding a margin of 36.1%, in comparison with INR 40.5 crore and a margin of 44.5% in Q2 FY24,” Verma elaborated.
Enterprise section efficiency
Lower in margin is primarily as a result of investing on a steady foundation over the past 4 quarters in shopper enterprise for the long run development and these investments are booked as bills. Downloads of the Mappls App surged from 10 million in H1FY24 to 25 million in H1FY25. Our Revenue After Tax (PAT) for H1 FY25 rose to INR 66 crore, in comparison with INR 65 crore in H1 FY24. Our IoT-led EBITDA margin improved considerably, rising from 7% to 14% throughout the identical interval. We’re on monitor for reaching our targets of FY 27-28,” he additional added.
Sapna Ahuja, COO of MapmyIndia, stated, “The general market we serve confronted challenges in Q2 FY25, however we managed to carry out moderately effectively due to our open orders and powerful teamwork. In H1 FY25, our Automotive & Mobility Tech (A&M) income rose by 19.3% YoY, whereas our Client Tech & Enterprise Digital Transformation (C&E) income grew by 8.2%. Particularly, in Q2 FY25, A&M income elevated by 27% to INR 60.9 Cr YoY, whereas C&E income remained regular at INR 42.7 cr.”
“With our efforts in the course of the previous many quarters, we lastly may enter the worldwide market with a major win of PT Terra Hyperlink Applied sciences within the South East Asian area for map options. We efficiently acquired new clients and deepened {our relationships} with current shoppers by way of upselling and cross-selling. This included important wins and go-lives throughout varied sectors, together with automotive, fleet administration, tech startups, conventional companies, authorities entities and defence,” Ahuja stated.
Our various vary of options noticed elevated adoption, comparable to our ADAS and EV Mobility stack, video telematics for fleets, APIs and SDKs for app builders and enterprises, and geospatial options like 3D digital twin mapping. Moreover, the adoption of our shopper merchandise continues to rise steadily,” she additional added.
