Won’t take a lot of time for Google Maps to beat that feature. Lot of hiring in India Maps team since last year.
Though the company has moat in B2B as mentioned many times in this thread (as compared to foreign players)
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Competition is going to be very stiff in this space and Google has started rolling out new features in their maps. JIO will shortly launch its own map platform and with their supplier base of 460M, they can bundle with data or JIO phones which can disrupt the market. I have already switched to waze, a community driven map application but owned by Google and am pretty happy with it. MapmyIndia growth should mostly come from B2B segment and we need to see if they can standout in the crowd with good offerings but still making money
Do you have any sources for: Jio will launch it’s own Map Platform?
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Yes but I can’t reveal that since it’s part of my professional discussion
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I agree that MapmyIndia will keep growing and will continue to stand out primarily in the B2B space in India. Google Maps has a long way to go before they emerge as a real contender here, while they obviously dominate B2C. Even in the international market, players like TomTom are standing strong in the B2B space.
I like that MapmyIndia is at least experimenting and tinkering in the B2C space with things like the Kogo app. I question this business’ prospects, but I appreciate the effort.
As for Jio launching their own mapping platform, they still need their own live mapping data, and I am curious as to who they will partner with for this, or if they plan on generating their own map internally, which isn’t as easy as it sounds.
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All investors should ask company (MapMyIndia) to clarify the purpose of the fund raising as company already have aroun 500cr cash on their book. Why do they need another 500 cr? What is the future plan?
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In terms of growth, i feel yes. They have quite good growth every quarter.
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Today on CNBCTV18 they answered how they will use the 500Crs which they are raising.
They are planning to enter International and Drone as service
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Rakesh Verma Sir is very positive on Q3 results (ultimately on H2 results also)
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Watching Mr. Verma appear so frequently on these business channels do force me to think why he the Company is trying to be in public eye so much!
The other day one of the “technical experts” on a leading hindi business news channel was saying Google Maps are incorrect while MapmyIndia are very accurate and easy to use.
While it maybe a very normal thing to say that, I find such frequent appearances and mentions on business channels somewhat doubt creating events!
Disclosure: Invested around current level
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If you have not used Mappls, Try using it
I am using it for 6 months and it is good, I have no doubts.
But rather than focussing on organic or marketing driven growth, why is Management to remain in the eyes and ears of stock market participants rather than customers? That is my point here.
I maybe totally wrong here., But I have seen the likes of EaseMyTrip etc appearing weekly on these channels
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Mapmyindia (MMI)
Results:
Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/81eca280-8fc4-410e-a913-bbb05e738048.pdf
Concall Highlights:
- First time Ad revenue monetisation of mappls through in-app advertising (client seems to be Cadbury) revenues is not trivial but remains small. Good potential if consumer usage of its mappls app increases.
- Auto revenue from EV segment – in line with industry ICE and EV mix. Every EV is going with MMI solution. Client retention in auto is 100%.
- Pricing difference – ICE vs. EV – EVs need more features from MMI so higher pricing in EVs.
- 9MYTD – 31% YoY rev growth. Gunning for 35-40% revenue growth in FY24.
- IOT led business grew over 100% to 27 crores. While map and data business grew 19% to 65 crores. IOT business margins 10% continue to improve (from 6% in Q124) due to SaaS revenues from the hardware sale.
- Higher advertising cost of ~5 crore vs. 2 to 3 crores in previous quarters. Spends were successful based on increased brand awareness, consumer reach, downloads. Advertising shall be calibrated in future quarter by quarter.
- In India more services like - Software, hardware, drone, map etc. Outside India – mostly Software only as it is world class so customers are asking, global map enhancement requirement based on customer discussions. So not everything offered outside India.
- Drone:
a. 3D mapping & risk monitoring for large logistics company warehouse/yard – it can be recurring revenue business.
b. Drone is important pillar. MMI aims to become a serious leader in Drone.
c. Monetising drone revenues – mix of selling drones, providing analytics, drone as part of overall deal (mapping). - Cash of 516 crores, why QIP: Plan is 10-year basis – international market expansion, drone business acceleration, activity in mappls consumer business. Over next 2-3 years to invest organically or inorganically.
- Why excited for Q4FY24 – H2 is always better than H1 and Q4 is better than Q3.
- Mobility opportunity 6000 crores – devices for devices for logistics and personal mobility.
Disclosure: invested and no transaction in last 30 days.
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Still has a ways to go before the masses prefer it over Google Maps. Wouldn’t show the shorter path to Nariman point via the newly commissioned Atal Setu bridge from Mumbai Pune expressway. Time difference being 45 additional minutes compared to Google maps which increased to 75 minutes during office hours commute
Disc: Invested and no transaction in the last 30 days
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Sir, Kindly tag Rohan Verma Ji on twitter (@_rohanverma)
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Stock is in expensive territory
But…
In the B2C tech space, monetization is a tough task. Mappls has started it this quarter, with the launch of the Cadbury advertisement. Unlike B2B businesses, B2C apps require regular investment in marketing to increase adoption, after which a long-term viability can be established. In this regard, Mappls has a long way to go before replacing Google Maps, which is a household name.
@moneycontrol
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