Cartrade Tech Ltd
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]
- Market Cap ₹ 14,461 Cr.
- Current Price ₹ 3,020
- High / Low ₹ 3,182 / 1,060
- Stock P/E 148
- Book Value ₹ 464
- Dividend Yield 0.00 %
- ROCE 4.33 %
- ROE 3.53 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 49.6% CAGR over last 5 years
- Company's median sales growth is 25.5% of last 10 years
Cons
- Stock is trading at 6.50 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 2.27% over last 3 years.
- Earnings include an other income of Rs.43.0 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 15 | 23 | 25 | 29 | 92 | 120 | 93 | 125 | 157 | 187 | 238 | 274 | |
| 90 | 176 | 65 | 53 | 104 | 123 | 88 | 303 | 160 | 171 | 177 | 182 | |
| Operating Profit | -76 | -153 | -40 | -24 | -11 | -2 | 5 | -178 | -3 | 16 | 60 | 92 |
| OPM % | -521% | -665% | -160% | -83% | -12% | -2% | 5% | -143% | -2% | 9% | 25% | 34% |
| 8 | 20 | 27 | 30 | 20 | 17 | 20 | 32 | 56 | 46 | 41 | 43 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 1 | 0 | 0 | 1 | 5 | 5 | 5 | 6 | 8 | 10 | 9 |
| Profit before tax | -68 | -134 | -13 | 6 | 7 | 9 | 20 | -152 | 46 | 54 | 91 | 125 |
| Tax % | -0% | 0% | 0% | 19% | 11% | -10% | -292% | -4% | 30% | 21% | 18% | |
| -68 | -134 | -13 | 5 | 6 | 10 | 79 | -146 | 33 | 42 | 74 | 98 | |
| EPS in Rs | -215.45 | -423.21 | -37.86 | 13.45 | 18.00 | 29.54 | 221.55 | -31.33 | 6.96 | 9.00 | 15.70 | 20.54 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 15% |
| 3 Years: | 24% |
| TTM: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 50% |
| 3 Years: | 36% |
| TTM: | 102% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 79% |
| 1 Year: | 177% |
| Return on Equity | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 1% |
| 3 Years: | 2% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 47 | 47 | 47 | 47 | 48 |
| Reserves | 149 | 960 | 1,221 | 1,229 | 1,188 | 1,206 | 1,608 | 1,889 | 1,952 | 2,011 | 2,103 | 2,162 |
| 14 | 31 | 35 | 35 | 35 | 39 | 43 | 8 | 6 | 7 | 8 | 8 | |
| 16 | 19 | 17 | 20 | 36 | 29 | 31 | 34 | 31 | 33 | 45 | 48 | |
| Total Liabilities | 182 | 1,013 | 1,276 | 1,288 | 1,262 | 1,277 | 1,686 | 1,977 | 2,035 | 2,099 | 2,204 | 2,266 |
| 1 | 1 | 1 | 0 | 786 | 790 | 792 | 797 | 795 | 800 | 800 | 799 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 140 | 839 | 1,083 | 1,258 | 408 | 423 | 767 | 1,017 | 1,111 | 1,162 | 1,265 | 1,315 |
| 41 | 173 | 192 | 29 | 68 | 64 | 127 | 163 | 130 | 137 | 139 | 152 | |
| Total Assets | 182 | 1,013 | 1,276 | 1,288 | 1,262 | 1,277 | 1,686 | 1,977 | 2,035 | 2,099 | 2,204 | 2,266 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -16 | 0 | 1 | 15 | 16 | 8 | 12 | 67 | ||||
| 18 | 8 | -1 | -329 | -251 | -17 | -10 | -68 | ||||
| 0 | 0 | -4 | 317 | 244 | -1 | -5 | 1 | ||||
| Net Cash Flow | 2 | 9 | -4 | 3 | 8 | -10 | -3 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 88 | 131 | 71 | 42 | 106 | 95 | 120 | 62 | 84 | 97 | 98 |
| Inventory Days | 0 | 51 | |||||||||
| Days Payable | 235 | 391 | |||||||||
| Cash Conversion Cycle | 88 | 131 | 71 | 42 | 106 | -139 | 120 | -278 | 84 | 97 | 98 |
| Working Capital Days | 16 | 2,341 | 2,519 | 56 | 57 | 56 | 67 | 20 | 66 | 79 | 69 |
| ROCE % | -26% | -3% | -1% | -1% | 1% | 1% | -8% | 2% | 2% | 4% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
31 Oct - Details are provided in the attachment
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
28 Oct - Earnings conference call for Q2 and H1 FY26 concluded Oct 28, 2025; presentation and audio uploaded.
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Intimation For Grant Of Stock Option Under ESOP 2021(I)
28 Oct - Grant of 60,000 ESOPs under ESOP 2021(I) on Oct 28, 2025; 4-year vesting.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 28 Oct
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Announcement under Regulation 30 (LODR)-Change in Management
28 Oct - Board appointed Varun Sanghi as CSO effective November 1, 2025; long-serving executive, led OLX India integration.
Annual reports
Concalls
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Oct 2025TranscriptNotesPPT REC
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Sep 2025TranscriptNotesPPT
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Aug 2025Transcript PPT
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Jun 2025TranscriptNotesPPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023TranscriptPPT
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Aug 2023Transcript PPT
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Aug 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Apr 2023TranscriptNotesPPT REC
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Feb 2023Transcript PPT REC
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Jan 2023TranscriptNotesPPT
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Oct 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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May 2022TranscriptNotesPPT
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Jan 2022Transcript PPT
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Nov 2021Transcript PPT
Multi-Channel Auto platform [1]
Consumer Group: The company provides Online Platforms for customers, dealers, and OEMs, to buy and sell new and used vehicles seamlessly. Powered by tech-enabled ERP and CRM solutions. Carwale, Bikewale, Cartrade