MapMyIndia - The Map Company

Stock Opportunities Untested - but worth a good look
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Regarding B2C, investor concall mentions that they do not want to get into advertising space because data privacy concerns. However Mr. Verma has also mentioned that never say never…

I think there are so just so many use cases for the company, how efficiently the company is able to bring it in reality…

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Some good insights -

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• Minimum EBITDA margin to maintain: 40%
• Strategy for Cement & Dairy companies is to provide low margin devices and then charge high margins on recurring SAAS business.
• The company is working with the government to be a part of the population scale platforms due to digitization.
• E-commerce, Fintech & Auto OEM space will be revenue drivers for the future. (Geospatial Analytics)
• Order booking & deal pipeline is strong for the quarter but they haven’t quantified the same.
• The company’s tie-ups with Govt. include the ULIP project, which is the Unified Logistics Interface Platform government announced with National Logistics Policy & partnership with U.P. police.

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I was going through the Annual report 2022 just wondering why map data is not part of the asset of the balance sheet. Is that mapdata is not owned by MapMyIndia? am I missing some thing?

Note: I have looked at Genesys which has intangible assets mentioned in the balance sheet.

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With phone to car display unit integration - autoplay(?) on Android, why will Auto companies want to pay for static maps to providers like CE Systems.

The phone navigation software is free. Data is cheap. Theres a good possibility of realtime data like Waze (in US?) Rather than static or just traffic data.

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This is true for limited audience, most of them don’t connect although this feature is online… as we move day to day ease of doing business is the crux we all chasing, connecting your mobile to car is the additional action that you doing here, which includes draining your phone battery, running parallel world’s, additional time etc etc … think about it as an inbuilt app available rather a play store download, definitely one could only choose an inbuilt app. The moat is very much clear, revenue growth is definitely inline to ER&D growth.

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I agree with market potential but bit confused MapMyIndia is fighting for this market.

  • When I look at the company asset, I don’t see much active spending on the MapData collection setup (for last 2 years no money spent on camera or mapping device) — I don’t know how company will give best map data without investment data collection hard to understand.
  • I used the map for some time to know the quality of the data – My impression, App is slow takes time to respond, map is not accurate, poor audio navigation name few. Data and map it looks like substandard.
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Why would ola maps be better than Google maps? Traffic on the road will be something Google can predict better than ola because of the number of Google maps that are active on that part of road.

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Will be meeting the mgmt this week. Anyone has some specific questions? I can ask them.

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Yes please: The above Q still troubles me.

With data cheap and heads up units integrating to phones, why will Auto companies want to promote inbuilt maps?

Recently bought a car, where inbuilt maps was an option in the highest add-on package. Opted out and there was no ‘pressure/coaxing’ by the dealership.

Believe that MapMyIndia signify this area will be their bread and butter in the future.
Thanks.

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This maps or a navigators will b linked to car cameras and the software base auto pilot will take control of the car. Which will not be possible through phone maps

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  • Guidance: EBITDA margins expected to be stable at 40-45%. FY22 full revenue of 200 crore has already been surpassed.
  • The company has invested in Indrones, a drone company, and other companies to expand its addressable market and go deeper with particular partners in particular areas.
  • Competition Commission of India has taken action against Google for anti-competitive activities, which could open up opportunities for MapmyIndia in the B2C market.
  • Marketing expenses were down during the quarter which helped in better margins.
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Did a deep-dive on the business model of MapMyIndia, while a lot of information has been taken from DRHP, Annual Reports, Investor Presentation, Transcripts and already present in the thread, have updated information on to a single story line with the financials information updated till 9M FY23

Disclosure: No position in the stock, studying to understand the opportunity and business model of MapMyIndia

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Hi folks,
Apologies if the question is stupid (or already answered)

What does 'technical services outsource" refer to, on the P&L?

Exponential increase!

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I was hoping one of the concalls would have answered it but doesn’t look like it.

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I think technical services outsource expense is an expense incurred by mapmyindia when they hired a third-party service provider to perform some technical tasks or functions for it. This could include software development, network maintenance, data analysis, etc.
Hope this helps.

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I was hoping management would’ve spoken of this or been asked about it.

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Yes, I thought so too. Then, I tried to find this expense in their previous year’s annual reports but couldn’t find any. I also looked for any news about them hiring a consulting team or partnering with a software company but didn’t find anything.

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Yeah. I think the annual report has more detailed breakdown of expenses, so this item will be broken down for the year in the upcoming annual report.

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