CE Info Systems Limited, the parent company of MapmyIndia, has clinched a significant contract worth ₹110.19 crore from Indian Oil Corporation Limited (IOCL), India's largest commercial oil company. This development marks a major milestone for the digital mapping and location intelligence services provider.

Contract Details

The contract, spanning five years, involves the comprehensive implementation and operation of IOCL's Central Vehicle Tracking and Management System. CE Info Systems will be responsible for:

• Pan-India provisioning and monitoring of IoT hardware
• Software and services implementation
• 24x7 command centre monitoring with alerts and reporting

This project underscores the growing importance of advanced tracking and management systems in the oil and gas sector, potentially enhancing operational efficiency and logistics for IOCL.

Financial Implications

While the contract value of ₹110.19 crore is substantial, it's important to view this in the context of CE Info Systems' overall financial performance. According to the company's recent financial results:

The new contract represents a significant portion of the company's current revenue, potentially boosting its financial outlook for the coming years.

Strategic Significance

Rakesh Verma, Group Chairman & Managing Director of MapmyIndia, highlighted the company's recent achievements, stating, "During the quarter, we intensified efforts to secure large MoUs and commercial contracts, resulting in some large deals that were won in October including a ₹110 crore contract with Indian Oil Corporation Limited (IOCL)."

This contract win aligns with CE Info Systems' strategy to expand its presence in the enterprise and government sectors, leveraging its expertise in digital mapping and IoT solutions.

Market Response

The news of this contract comes at a time when CE Info Systems has been focusing on strategic growth and innovation. The company recently reported that its consumer app, Mappls, has surpassed 40 million downloads, reinforcing its position in the navigation platform market.

Conclusion

The ₹110.19 crore contract with IOCL represents a significant opportunity for CE Info Systems to showcase its capabilities in large-scale IoT and tracking solutions. As the company continues to diversify its portfolio and secure high-value contracts, it strengthens its position in the digital mapping and location intelligence market.

Investors and industry observers will likely keep a close watch on how this contract contributes to CE Info Systems' growth trajectory and financial performance in the coming quarters.

CE Info Systems , the company behind MapmyIndia, has reported a mixed set of financial results for the second quarter of fiscal year 2026. While the company saw growth in revenue, it experienced a decline in profitability compared to the same period last year.

Financial Highlights

The company's revenue from operations grew by 9.7% year-over-year to ₹113.80 crore in Q2 FY2026. However, this top-line growth was accompanied by a significant decline in profitability metrics.

Profitability Pressure

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased by 25% to ₹28.10 crore, with the EBITDA margin contracting from 36.1% to 24.7%. The company's net profit saw a more pronounced decline, falling 39.2% to ₹18.50 crore, with the net profit margin shrinking from 26.7% to 14.9%.

Segment Performance

The company's performance varied across its two main business segments:

1. Map-led Business: This segment showed resilience, with revenues growing to ₹160.90 crore in H1 FY2026 from ₹151.10 crore in H1 FY2025. It maintained a healthy EBITDA margin of 47.3%.

2. IoT-led Business: This segment demonstrated strong revenue growth, rising to ₹74.50 crore from ₹54.00 crore in the prior period. However, its EBITDA margin decreased to 10.6%, impacted by one-off costs related to the acquisition of a 96% stake in the IoT subsidiary, Gtropy.

Management Commentary

Rakesh Verma, Group Chairman & Managing Director of MapmyIndia, commented on the results: "Q2 FY26 was a quarter of focused investment, as MapmyIndia accelerated innovation to build and enhance our next generation of products and business offerings."

He highlighted the rapid growth of the Mappls app, which surpassed 40 million downloads, reinforcing its position as India's leading navigation platform.

Strategic Developments

The company reported several strategic achievements during and shortly after the quarter:

• Secured a ₹110 crore contract with Indian Oil Corporation Limited (IOCL).
• Awarded a contract by the Survey of India to develop the nation's first National Geo-Spatial Platform.
• Increased its stake in subsidiary Gtropy Systems Private Limited to 96%.

Outlook

While the core business remains strong with healthy margins, the company acknowledges that new businesses (IoT, Government, International JV) are in investment and scale-up mode to address large market opportunities. The management remains focused on strategic growth and sustained value creation for stakeholders.

CE Info Systems' mixed Q2 results reflect a period of investment and expansion, with revenue growth offset by margin pressures. The company's strategic initiatives and market position suggest potential for future growth, but investors will likely be watching closely to see how these investments translate into profitability in the coming quarters.