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CARTRADE - Cartrade Tech

📊 NSE: CARTRADE 🏢 Miscellaneous 📅 Last Updated: 12/13/2025 20:43

📢 Recent Corporate Announcements

CarTrade Tech Submits Routine Share Dematerialization Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Apr 2026, 03:14 PM

CarTrade Tech Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter and financial year ended March 31, 2026. The company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that all share dematerialization requests were processed within prescribed timelines. The report confirms that security certificates received were mutilated and cancelled after due verification. This is a standard administrative filing with no impact on the company's financial performance or business operations.

Compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
Covers the fourth quarter and full financial year ended March 31, 2026.
Confirmation issued by Registrar MUFG Intime India Private Limited (formerly Link Intime).
Verification that dematerialized certificates were cancelled and names substituted in the register of members.

💡 No action is required from investors as this is a routine regulatory filing. Continue to monitor the company for upcoming financial results and growth updates.

CarTrade Tech Allots 50,000 Equity Shares Under ESOP 2011

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Apr 2026, 06:23 PM

CarTrade Tech Limited has approved the allotment of 50,000 equity shares to eligible employees following the exercise of vested options under the ESOP 2011 scheme. The shares were issued at an exercise price of Rs. 34 per share, which includes a premium of Rs. 24. Consequently, the company's total paid-up share capital has increased to Rs. 47,92,80,350, representing 4,79,28,035 equity shares. The company has explicitly stated that this allotment is not material in nature.

Allotment of 50,000 equity shares of face value Rs. 10 each under the ESOP 2011 plan.
Exercise price fixed at Rs. 34 per share, including a premium of Rs. 24 per share.
Total paid-up share capital increased from 4,78,78,035 to 4,79,28,035 equity shares.
The new shares rank pari-passu with existing equity shares of the company.

💡 No action is required as this is a routine administrative allotment with negligible equity dilution. Investors should focus on the company's core business performance rather than this minor capital change.

CarTrade Tech Announces Trading Window Closure Starting April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Mar 2026, 02:46 PM

CarTrade Tech Limited has officially notified the stock exchanges regarding the closure of its trading window for designated persons and their relatives. This closure is effective from April 1, 2026, in compliance with SEBI's Prohibition of Insider Trading Regulations. The restriction is ahead of the company's announcement of audited standalone and consolidated financial results for the quarter and full year ending March 31, 2026. The window will reopen 48 hours after the financial results are made public.

Trading window closure effective from Wednesday, April 01, 2026.
Closure applies to audited Standalone and Consolidated Financial Results for the quarter and year ending March 31, 2026.
Restriction covers all Designated Persons and their immediate relatives as per SEBI guidelines.
Trading window will remain closed until 48 hours after the declaration of financial results.
The specific date for the Board Meeting to approve the results will be announced at a later date.

💡 This is a standard regulatory procedure and does not impact the company's fundamentals. Investors should monitor the upcoming board meeting date for the actual financial performance release.

CarTrade Tech Q3 FY26: EBITDA Surges 56% YoY with 37% Margin and ₹1,145 Cr Cash Reserves

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 30 Mar 2026, 09:02 AM

CarTrade Tech reported a strong performance for Q3 FY26, with revenue from operations growing 19% YoY to ₹209.7 crore. The company demonstrated significant operating leverage as EBITDA grew by 56% YoY to ₹78.2 crore, with margins expanding to 37% from 28% in the previous year. Over a three-year period (FY23-FY26), the company has achieved a remarkable 112% EBITDA CAGR and 83% PAT CAGR. CarTrade maintains a robust balance sheet with zero debt and cash reserves exceeding ₹1,145 crore, supporting its position as a leading multi-category marketplace.

Q3 FY26 Revenue from operations increased 19% YoY to ₹209.7 crore, while PAT rose 35% to ₹61.5 crore.
EBITDA margins expanded significantly to 37% in Q3 FY26 compared to 28% in Q3 FY25.
Three-year growth story (FY23-FY26) shows a Revenue CAGR of 32% and an EBITDA CAGR of 112%.
Strong liquidity position with ₹1,145+ crore in cash reserves and a zero-debt profile.
Unmatched platform scale with 150M+ unique annual users and 63% of India's used car listings.

💡 Investors should note the significant margin expansion and high growth rates, which indicate successful monetization of the OLX acquisition and organic platforms. The strong cash position and zero debt provide a safety net and capital for future strategic expansions.

CarTrade Tech to Host Analyst and Institutional Investor Meet on March 30, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Mar 2026, 06:49 PM

CarTrade Tech Limited has scheduled a group meeting with analysts and institutional investors for March 30, 2026. The meeting is set to be conducted in a hybrid mode, facilitating both in-person and virtual attendance. This notification is a routine compliance filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has clarified that no unpublished price sensitive information (UPSI) will be shared during this interaction.

Analyst and Institutional Investor meeting scheduled for March 30, 2026
The meeting will be a group event conducted in a hybrid format
Compliance filing under SEBI (LODR) Regulations, 2015, Schedule III
Company confirms that no unpublished price sensitive information (UPSI) will be discussed

💡 Investors should watch for any post-meeting presentations or transcripts uploaded to the company website for insights into management's outlook. No immediate action is required as this is a routine disclosure.

CarTrade Tech Issues Corrigendum for Allotment of 35,100 Equity Shares Under ESOP Schemes

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 Mar 2026, 09:59 PM

CarTrade Tech Limited has issued a corrigendum to its previous disclosure regarding the allotment of 35,100 equity shares. The update clarifies that 2,000 shares were issued under ESOP 2015 and 3,100 shares under ESOP 2021 (I), correcting an inadvertent omission in the original filing dated March 13, 2026. The exercise prices for these specific allotments range from Rs. 472 to Rs. 825 per share. This allotment marginally increases the company's total issued share capital to approximately Rs. 47.88 crore.

Total allotment of 35,100 equity shares under ESOP 2010, 2011, 2015, and 2021 (I) schemes
ESOP 2015 allotment involves 2,000 shares at an exercise price of Rs. 472.00 per share
ESOP 2021 (I) allotment involves 3,100 shares at exercise prices of Rs. 825.00 and Rs. 644.03
Total paid-up equity share capital increased to Rs. 47,87,80,350 following the allotment

💡 This is a routine regulatory filing for ESOP shares and does not impact the company's fundamentals. Investors should treat this as a standard administrative update.

CarTrade Tech Allots 35,100 Equity Shares Under ESOP Schemes

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Mar 2026, 06:08 PM

CarTrade Tech Limited has approved the allotment of 35,100 equity shares to employees following the exercise of options under its 2010, 2011, and 2021 ESOP plans. This allotment increases the total number of outstanding equity shares from 4,78,42,935 to 4,78,78,035. The exercise prices for these shares varied significantly, ranging from Rs. 34 to Rs. 825 per share. The company has clarified that this specific allotment is not material to its overall financial position.

Allotment of 35,100 equity shares of face value Rs. 10 each to eligible employees.
Total paid-up share capital increased to Rs. 47.88 crore consisting of 4.78 crore shares.
ESOP 2011 scheme saw the largest allotment of 25,000 shares at an exercise price of Rs. 34.
ESOP 2021 (I) allotment included 5,100 shares with exercise prices ranging from Rs. 472 to Rs. 825.
The new shares will rank pari-passu with existing equity shares of the company.

💡 No immediate action is required as this is a routine ESOP exercise resulting in negligible equity dilution of approximately 0.07%. Investors should focus on the company's upcoming quarterly performance and growth metrics.

CarTrade Tech Unveils Multi-Agent AI Ecosystem; Reports Record 37% EBITDA Margin

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 15 Feb 2026, 08:06 PM

CarTrade Tech has announced a Multi-Agent AI Ecosystem to be integrated across CarWale, BikeWale, and OLX India to automate retail transactions and matchmaking. This strategic move follows a record Q3 FY26 performance featuring ₹228 crore in revenue and a 37% EBITDA margin. The company has demonstrated strong growth with an 83% PAT CAGR over three years and maintains a cash reserve of ₹1,145 crore. The AI rollout is designed to leverage 150 million annual users to drive further operating leverage and transaction velocity.

Achieved record quarterly revenue of ₹228 crore and a 37% EBITDA margin in Q3 FY26
Profit After Tax (PAT) grew at an 83% CAGR over 3 years, reaching an annualized run rate of ₹250 crore
Multi-Agent AI ecosystem to serve 150 million annual users across CarWale, BikeWale, and OLX India
Maintains a highly liquid balance sheet with over ₹1,145 crore in cash for potential M&A
Consolidated Total Income is on track for an annualized run rate of ₹1,000 crore

💡 The stock remains a strong play on the digitalization of India's auto market; the high cash levels and improving margins suggest significant valuation support. Watch for the successful deployment of AI agents as a catalyst for higher transaction-based revenue.

CarTrade Tech Q3 FY26: Record Revenue of ₹228 Cr and 56% EBITDA Growth

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 03 Feb 2026, 07:03 PM

CarTrade Tech reported its strongest-ever quarterly performance in Q3 FY26, with revenue reaching ₹228 crores and EBITDA surging 56% YoY to ₹78 crores. The company achieved a record consolidated EBITDA margin of 37%, driven by strong performance across its Consumer, Remarketing, and OLX segments. Profit After Tax (PAT) stood at ₹62 crores, reflecting a 35% YoY growth despite a one-time ₹6.5 crore provision for the new Labor Code. With cash reserves of ₹1,145 crores and a double-digit Return on Equity (ROE), the management remains optimistic about sustaining growth momentum.

Highest ever quarterly revenue of ₹228 crores, representing an 18% YoY growth.
Consolidated EBITDA margins expanded significantly to 37% from 28% in the previous year.
Adjusted EBITDA (cash proxy) crossed the ₹100 crore mark for the first time, reaching ₹101 crores.
Consumer group EBITDA margins reached 43%, while OLX achieved its highest-ever revenue with a 37% margin.
Maintained a strong balance sheet with cash and cash equivalents of ₹1,145 crores.

💡 Investors should note the significant operational leverage and margin expansion across all business segments. The company's ability to generate high cash flow and maintain a debt-free balance sheet positions it well for future growth or acquisitions.

CarTrade Tech Schedules Multiple Institutional Investor Meetings in February 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Feb 2026, 06:53 PM

CarTrade Tech Limited has announced a series of investor interactions scheduled between February 6 and February 17, 2026. The schedule includes a group investor meet on February 6, followed by participation in the Axis Capital Conference on February 10. The company will also attend the Goldman Sachs India New Age Tech Conference on February 16-17. These meetings are intended for institutional engagement, and the company has clarified that no unpublished price sensitive information (UPSI) will be shared.

Investor Meet scheduled for February 6, 2026, via hybrid mode (Virtual/Physical).
Participation in Axis Capital Conference on February 10, 2026, involving one-on-one or group meetings.
Attendance at the Goldman Sachs India New Age Tech Conference on February 16-17, 2026.
Company explicitly stated that no unpublished price sensitive information will be discussed during these interactions.

💡 Investors should treat this as a routine disclosure and look for any subsequent investor presentations or transcripts that may be uploaded to the stock exchanges for insights into management's commentary.

CarTrade Tech Seeks Shareholder Approval to Increase CFO Aneesha Bhandary's Remuneration

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 30 Jan 2026, 06:29 PM

CarTrade Tech Limited has issued a postal ballot notice to seek shareholder approval via a special resolution for increasing the remuneration of Mrs. Aneesha Bhandary, Executive Director and CFO. The proposed increase is intended to be valid for a three-year period from April 1, 2026, to March 31, 2029. Notably, the resolution includes provisions for the payment of minimum remuneration even in the event of inadequate or no profits during this tenure. Shareholders recorded as of the January 23, 2026, cut-off date are eligible to participate in the electronic voting process.

Special resolution proposed for increasing remuneration of Executive Director and CFO Mrs. Aneesha Bhandary
Proposed remuneration term covers a 3-year period from April 01, 2026, to March 31, 2029
Provision for payment of minimum remuneration in case of absence or inadequacy of profits under Section 198
Remote e-voting period is set from February 02, 2026 (9:00 AM) to March 03, 2026 (5:00 PM)
Voting results to be announced on or before March 05, 2026, following the scrutinizer's report

💡 Investors should monitor the company's financial performance relative to executive compensation to ensure alignment with long-term shareholder interests. Shareholders may exercise their voting rights during the e-voting window ending March 03, 2026.

CarTrade Tech Concludes Q3 FY26 Earnings Call; Audio Recording and Presentation Released

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 28 Jan 2026, 03:52 PM

CarTrade Tech Limited has successfully concluded its earnings conference call for the third quarter and nine months ended December 31, 2025. The call involved discussions with analysts and institutional investors regarding the company's unaudited financial performance. Management referred to a specific investor presentation during the session, which is now publicly available on the company's website. The company has also provided a direct link to the audio recording of the call for full transparency.

Earnings call for Q3 and 9M FY26 held on January 28, 2026.
Unaudited standalone and consolidated financial results for the period ending Dec 31, 2025, were discussed.
Investor presentation and audio recording links have been officially disclosed for public access.
Compliance confirmed under Regulation 30 of SEBI LODR Regulations.

💡 Investors should review the audio recording and presentation to understand management's outlook on the used car ecosystem and digital platform margins. Monitor the stock for price reaction to the underlying financial performance discussed in the call.

CarTrade Tech Grants 75,000 ESOP Options Under 2021 Plan

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Jan 2026, 11:35 AM

CarTrade Tech Limited has announced the grant of 75,000 stock options to eligible employees under its Employee Stock Option Plan 2021 (I). Each option is convertible into one equity share of face value Rs. 10 upon exercise. The exercise price is determined by the 30-day average closing price preceding the grant date, reflecting no discount to the market price. The vesting schedule is spread over four years, with 25% of the options vesting annually.

Grant of 75,000 ESOP options to eligible employees, including a relative of a Director.
Exercise price set at 0% discount to the 30-day average closing market price.
Vesting schedule follows a 4-year period with 25% vesting each year.
Options must be exercised within a maximum period of 10 years from the grant date.
Each option is convertible into one equity share of face value Rs. 10.

💡 This is a routine administrative update regarding employee compensation and retention. No immediate action is required as the dilution impact from 75,000 shares is minimal relative to the company's total equity.

CarTrade Tech Q3 FY26: Record Revenue of ₹228 Cr and 56% EBITDA Growth

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 Jan 2026, 11:28 AM

CarTrade Tech reported its best-ever quarterly performance in Q3 FY26, with revenue growing 18% YoY to ₹228 crore. The company's EBITDA surged 56% YoY to ₹78 crore, driven by significant margin expansion to 37% from 28% in the previous year. All three business verticals—Consumer Group, Remarketing, and OLX India—achieved record revenues and profits. The company maintains a robust debt-free balance sheet with cash reserves of ₹1,145 crore.

Consolidated Revenue increased 18% YoY to ₹228 Cr, while PAT grew 35% YoY to ₹62 Cr.
EBITDA margins expanded significantly to 37% in Q3 FY26, up from 28% in Q3 FY25.
Consumer Group (CarWale, BikeWale) delivered a benchmark EBITDA margin of 43% on 27% revenue growth.
OLX India segment saw a 70% YoY increase in EBITDA with a 37% margin.
Maintains a strong cash balance of ₹1,145 Cr with zero debt and 85 million monthly active users.

💡 The company is demonstrating strong operational leverage and structural margin expansion across all segments. Investors should view this as a positive sign of scale and efficiency, while keeping an eye on how the company utilizes its massive cash reserves for future growth.

CarTrade Q3 FY26: Record Revenue of ₹228 Cr, EBITDA Zooms 56% with 37% Margin

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 Jan 2026, 11:27 AM

CarTrade Tech reported its highest-ever quarterly revenue of ₹228.37 crores for Q3 FY26, marking an 18% YoY growth. The company demonstrated significant operating leverage as EBITDA surged 56% to ₹78.25 crores, achieving record margins of 37%. Profit After Tax (PAT) grew 35% YoY to ₹61.52 crores, while adjusted PAT (excluding labor code impact) rose by 49% to ₹68.03 crores. Strong performance was seen across all segments, particularly in the Consumer Group and OLX India, which reported EBITDA margins of 43% and 37% respectively.

Highest-ever quarterly revenue of ₹228.37 crores, representing 18% YoY growth.
EBITDA grew 56% YoY to ₹78.25 crores with an all-time high margin of 37%.
Adjusted Profit After Tax (excluding New Labour Code impact) grew 49% YoY to ₹68.03 crores.
Consumer Group segment delivered 27% revenue growth and a high EBITDA margin of 43%.
Maintained strong digital presence with 85 million average monthly unique visitors and 95% organic traffic.

💡 The company's record-high margins and strong operating leverage indicate a robust business model; investors should view this as a positive sign of maturing profitability. Long-term investors may consider the stock given its leadership in the digital auto ecosystem and consistent growth across all business verticals.

View All CARTRADE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, the Consumer Group grew 37% YoY to INR 76.25 Cr, Remarketing grew 23% YoY to INR 62.62 Cr, and OLX India grew 17% YoY to INR 52.52 Cr. For FY25, segment contributions were Consumer (37%), Remarketing (33%), and OLX India (30%).

Geographic Revenue Split

The company operates primarily in India, with 100% of revenue derived from domestic operations across its platforms like CarWale, BikeWale, and OLX India.

Profitability Margins

Net profit margin improved from 16.76% in FY24 to 22.61% in FY25. Q2 FY26 consolidated PAT surged 109% YoY to INR 64.08 Cr, driven by strong operating leverage where revenue growth outpaces cost increases.

EBITDA Margin

Consolidated EBITDA margin for Q2 FY26 reached 43%, up from 33% in Q2 FY25. FY25 consolidated EBITDA margin was 23%, a significant improvement from 16% in FY24.

Capital Expenditure

Not disclosed in available documents; however, the company maintains a debt-free balance sheet with INR 954 Cr in liquidity to support future growth and potential M&A.

Credit Rating & Borrowing

The company is debt-free as of March 31, 2025, and maintains a strong liquidity position of INR 954 Cr, eliminating borrowing costs.

⚙️ Operational Drivers

Raw Materials

As a technology platform, the primary 'raw material' is human capital; Employee costs represent 44% of total revenue at INR 284.36 Cr in FY25.

Key Suppliers

Not applicable; the company relies on its internal technology infrastructure and organic user base.

Capacity Expansion

Current capacity includes 85 million Monthly Active Users (MAUs) and 500+ physical locations. Expansion is focused on the abSure brand and increasing physical footprint.

Raw Material Costs

Employee costs increased 16% YoY to INR 284.36 Cr in FY25, while marketing expenses grew 12% to INR 31.91 Cr, both growing slower than the 31% revenue growth.

Manufacturing Efficiency

Operational efficiency is measured by the 95% organic traffic rate, which allows for high margins by minimizing customer acquisition costs.

Logistics & Distribution

Not applicable; distribution is digital via web and mobile platforms.

📈 Strategic Growth

Expected Growth Rate

20-22%

Growth Strategy

Growth will be achieved through product innovation (conversational commerce, voice search), improving user experience to increase conversion ratios, and expanding the physical footprint of the abSure brand to 500+ locations.

Products & Services

Used car and bike classifieds, vehicle auction services, automotive inspection reports, and advertising solutions for OEMs and dealers.

Brand Portfolio

CarWale, BikeWale, OLX India, Shriram Automall, abSure, Adroit Inspection Services.

New Products/Services

Expansion of abSure physical outlets and integration of AI-driven conversational commerce to enhance the used vehicle buying experience.

Market Expansion

Focus on deepening penetration in the Indian used vehicle market, which is a large and expanding Total Addressable Market (TAM).

Market Share & Ranking

Ranked #1 automotive platform, #1 used classified platform, and #1 vehicle auction platform in India.

Strategic Alliances

The company operates through subsidiaries like Sobek Auto India (OLX) and Shriram Automall India.

🌍 External Factors

Industry Trends

The industry is shifting toward mobile-first transactions, conversational commerce, and AI-integrated search, with CarTrade positioning itself as a technology leader.

Competitive Landscape

Intense competition from both domestic and foreign players in the digital automotive ecosystem, requiring constant brand equity maintenance.

Competitive Moat

The moat is built on a 95% organic traffic rate and a massive user base of 150 million annual actives, creating a network effect that is highly sustainable and difficult for competitors to replicate without high spend.

Macro Economic Sensitivity

Sensitive to the overall health of the Indian automotive market and digital adoption rates among consumers.

Consumer Behavior

Increasing preference for mobile usage and voice-assisted search for vehicle transactions.

Geopolitical Risks

Minimal direct impact as operations are concentrated within India, though global tech trends influence platform evolution.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to pollution norms for physical auction sites and general digital content liability regulations.

Environmental Compliance

Not disclosed; the company is a digital platform with a low environmental footprint.

Taxation Policy Impact

Effective tax expense was INR 9.83 Cr in FY25, with a significant deferred tax adjustment of INR 13.27 Cr.

Legal Contingencies

The company identifies content liability fraud as a primary concern that could lead to reputational risk, though specific pending case values are not disclosed.