Cartrade Tech Ltd
Cartrade Tech Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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46 extracted metrics + investor summaries across FY16–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
3- Company is almost debt free.
- Company has delivered good profit growth of 19.8% CAGR over last 5 years
- Company's median sales growth is 23.9% of last 10 years
Weaknesses
4- Stock is trading at 5.39 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 5.65% over last 3 years.
- Working capital days have increased from 138 days to 438 days
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 7d agoCarTrade Tech Ltd operates in the online auto classifieds space with a market cap of ₹13,366 Cr, trading at a PE of 52.9x and 5.39x book value. The company has grown sales at a 29% CAGR over 3 years and profits at 89% CAGR over the same period, while remaining almost debt-free but paying no dividends and generating a modest 3-year average ROE of around 6%.
- Almost debt-free balance sheet provides financial flexibility and reduces interest rate risk in a rising rate environment
- Compounded profit growth of 89% CAGR over 3 years signals strong operating leverage as the platform scales
- TTM sales growth of 20% demonstrates continued momentum in revenue generation
- Compounded sales CAGR of 29% over 3 years and 26% over 5 years reflects sustained top-line expansion well above GDP growth
- ROE has improved from 3% (5-year average) to 10% in the last year, indicating improving capital efficiency
- Median sales growth of 23.9% over the last 10 years shows long-term consistency in revenue compounding
- Stock has delivered 74% CAGR over 3 years, reflecting strong market confidence in the business model
- TTM profit growth of 53% outpaces revenue growth of 20%, suggesting margin expansion and improving unit economics
- PE ratio of 52.9x is elevated, pricing in significant future growth and leaving limited margin of safety
- Trading at 5.39x book value despite a 3-year average ROE of only 6%, implying the stock is expensive relative to returns generated on equity
- Working capital days have surged from 138 days to 438 days, indicating potential cash conversion cycle deterioration
- Zero dividend yield despite reporting repeated profits suggests shareholders receive no income return on their investment
- 3-year average ROE of just 5.65% is below the cost of equity for most investors, indicating sub-par capital allocation historically
- 5-year compounded profit CAGR of 20% is significantly lower than the 3-year figure of 89%, raising questions about sustainability of recent profit surge
- 10-year ROE data is unavailable, limiting visibility into long-term capital efficiency track record
- 52-week high and low data unavailable (reported as 0), making it difficult to assess current price relative to recent trading range
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2d ago- Promoter stake sale by MacRitchie Jul 18
MacRitchie Investments sold 3,04,529 shares (0.64% stake) on July 14, 2026, reducing holding to 7.75%. Sustained selling by key investors can signal reduced confidence or create supply pressure.
- Record Q1FY27 revenue, EBITDA up 45% Aug 5
CarTrade Tech reported record Q1FY27 revenue of ₹230 crore with 45% YoY EBITDA growth. PAT rose 21% to ₹57 crore, driven by strong performance across Consumer, Remarketing, and OLX India segments.
- OLX India 29% revenue surge Aug 5
OLX India segment led growth with a 29% revenue increase in Q1FY27, contributing significantly to the record quarter.
- Strategic partnership with Spinny Jul 29
CarTrade Tech partnered with Spinny to integrate quality-assured used car listings on CarWale and OLX India, leveraging VAYA AI for user matching. This signals a shift toward a higher-margin transactional model.
- Q1FY26 profit up 20% YoY Jul 29
Consolidated net profit rose 20.4% YoY to ₹567.53 lakhs for Q1FY26, with revenue increasing 16.3% to ₹2,011.63 lakhs, showing consistent growth trajectory.
- Analyst meet scheduled Aug 17 Aug 11
CarTrade Tech announced a physical analyst meeting at the Motilal Conference on August 17, 2026, under SEBI LODR compliance.
- Q1FY27 earnings call concluded Jul 29
Earnings conference call held on July 29, 2026, discussing unaudited results for the quarter ended June 30, 2026. Audio and presentation available on company website.
- MGB & Co. reappointed as auditor Jul 29
Board reappointed M/s MGB & Co. LLP as internal auditor for FY2026-27 on July 29, 2026, a routine compliance action.
TL;DR: CarTrade Tech is delivering strong operational momentum with record revenue of ₹230 crore and 45% EBITDA growth in Q1FY27, supported by robust OLX India performance and a strategic Spinny partnership that could unlock transactional revenues. The only notable risk is minor promoter-group stake dilution by MacRitchie Investments. The growth trend is clearly improving with consecutive quarters of 20%+ profit growth, and the upcoming analyst meet on Aug 17 may provide further visibility on the Spinny integration and margin trajectory.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 86 | 120 | 139 | 145 | 142 | 154 | 176 | 170 | 173 | 193 | 210 | 203 | 201 |
| Expenses | 81 | 99 | 113 | 118 | 120 | 122 | 126 | 123 | 130 | 130 | 131 | 132 | 138 |
| Operating Profit | 5 | 21 | 25 | 27 | 22 | 33 | 50 | 46 | 44 | 64 | 78 | 72 | 63 |
| OPM % | 6% | 18% | 18% | 19% | 16% | 21% | 28% | 27% | 25% | 33% | 37% | 35% | 31% |
| Other Income | 21 | -2 | -32 | 17 | 15 | 18 | 17 | 20 | 25 | 29 | 12 | 18 | 26 |
| Interest | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 8 | 9 | 10 | 10 | 10 | 11 | 11 | 10 | 9 | 9 | 9 | 11 | 11 |
| PBT | 16 | 8 | -19 | 31 | 24 | 37 | 53 | 53 | 57 | 80 | 78 | 75 | 75 |
| Tax % | 14% | 34% | 26% | 20% | 7% | 17% | 15% | 14% | 17% | 20% | 21% | 6% | 24% |
| Net Profit | 14 | 5 | -24 | 25 | 23 | 31 | 46 | 46 | 47 | 64 | 62 | 71 | 57 |
| EPS in Rs | 2.77 | 0.64 | -5.17 | 4.8 | 4.72 | 5.89 | 9.01 | 8.82 | 9.03 | 12.53 | 11.68 | 13.49 | 10.67 |
Profit & Loss
| Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 33 | 78 | 243 | 298 | 250 | 313 | 364 | 490 | 641 | 779 | 807 |
| Expenses | 195 | 131 | 213 | 258 | 210 | 446 | 330 | 410 | 490 | 522 | 531 |
| Operating Profit | -162 | -53 | 30 | 40 | 40 | -133 | 34 | 80 | 152 | 257 | 276 |
| OPM % | -499% | -68% | 12% | 14% | 16% | -43% | 9% | 16% | 24% | 33% | 34% |
| Other Income | 18 | 20 | 24 | 20 | 32 | 46 | 64 | 3 | 70 | 84 | 84 |
| Interest | 0 | 0 | 3 | 4 | 5 | 7 | 9 | 10 | 12 | 12 | 13 |
| Depreciation | 1 | 3 | 15 | 17 | 20 | 25 | 29 | 37 | 41 | 39 | 40 |
| PBT | -146 | -37 | 35 | 39 | 47 | -119 | 61 | 36 | 168 | 290 | 307 |
| Tax % | 0% | 0% | 27% | 20% | -120% | 2% | 33% | 44% | 14% | 16% | — |
| Net Profit | -146 | -37 | 26 | 31 | 103 | -121 | 40 | 20 | 145 | 244 | 253 |
| EPS in Rs | -461 | -107 | 48.39 | 63.43 | 258 | -28.33 | 7.26 | 3.05 | 28.38 | 46.58 | 48.37 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 4 | 47 | 47 | 47 | 47 | 48 |
| Reserves | 948 | 1,185 | 1,193 | 1,224 | 1,638 | 1,933 | 1,997 | 2,023 | 2,173 | 2,436 |
| Borrowings | 31 | 35 | 68 | 77 | 93 | 77 | 86 | 112 | 131 | 140 |
| Other Liabilities | 39 | 28 | 159 | 163 | 189 | 220 | 210 | 326 | 353 | 385 |
| Total Liabilities | 1,021 | 1,252 | 1,424 | 1,467 | 1,924 | 2,276 | 2,340 | 2,508 | 2,705 | 3,009 |
| Fixed Assets | 792 | 789 | 1,010 | 1,016 | 1,022 | 1,041 | 1,042 | 1,489 | 1,497 | 1,522 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Investments | 165 | 405 | 287 | 295 | 645 | 884 | 985 | 510 | 614 | 910 |
| Other Assets | 65 | 58 | 127 | 157 | 255 | 351 | 312 | 509 | 594 | 576 |
| Total Assets | 1,021 | 1,252 | 1,424 | 1,467 | 1,924 | 2,276 | 2,340 | 2,508 | 2,705 | 3,009 |
Cash Flow
| Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | -50 | 35 | 17 | 35 | 63 | 48 | 16 | 171 | 257 |
| Investing | — | -222 | -20 | -8 | -341 | -281 | -17 | 13 | -138 | -231 |
| Financing | — | 269 | -5 | -11 | 308 | 229 | -39 | -33 | -27 | -23 |
| Net Cash Flow | — | -3 | 9 | -2 | 2 | 12 | -7 | -4 | 7 | 3 |
| Free Cash Flow | — | -50 | 33 | 12 | 30 | 57 | 41 | 13 | 166 | 231 |
| CFO/OP | — | 99 | 174 | 65 | 114 | -58 | 149 | 37 | 114 | 109 |
Ratios
| Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 197 | 99 | 54 | 57 | 69 | 48 | 52 | 55 | 49 | 44 |
| Inventory Days | — | — | — | 0 | — | — | — | — | — | — |
| Days Payable | — | — | — | 417 | — | — | — | — | — | — |
| Cash Conversion Cycle | 197 | 99 | 54 | -359 | 69 | 48 | 52 | 55 | 49 | 44 |
| Working Capital Days | 148 | 108 | -25 | 35 | 35 | -19 | -10 | -24 | 1 | 438 |
| ROCE % | — | -5% | — | 2% | 3% | -6% | 3% | 4% | 8% | 12% |
Documents
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Company Information
CarTrade Tech Ltd is a multi-channel auto platform provider company with coverage and presence across vehicle types and Value Added Services. The company operates various brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz. The platform connects new and used automobile customers, vehicle dealers, vehicle OEMs, and other businesses to buy and sell different types of vehicles. The company offers a variety of solutions across automotive transactions for buying, selling, marketing, financing, and other activities.[1]