Cartrade Tech Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹11,304 Cr
- P/E
- 47.48
- ROE
- 9.65%
- PEG
- 0.54
- Price to sales
- 13.99
- Debt to equity
- 0.06
- 52W high / low
- ₹3,268 / ₹1,623
- Sales growth (5Y)
- 25.56%
- EBITDA margin
- 34.24%
- Net profit margin
- 31.81%
- Sales (last year)
- ₹807 Cr
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]
Guidance scorecard · Q2 FY27 call
What Cartrade Tech Ltd's management guided
and where it ranks in Retailing
RevenueQ1 FY27 call
20–40%- CarTrade Tech expects massive upside in both revenue and transaction volumes, driven by margin sharing and commission models that improve overall margins.
- OLX India plans to launch new products (escrow, logistics) within the year, enhancing user experience and monetization.
- The remarketing business shows strong growth in both retail (45%) and repo (41%), with optimistic outlook for coming quarters.
- The total addressable market (TAM) is expected to grow significantly over 3-5 years due to new initiatives like partnerships, digital buying experiences, financing, servicing, membership models, and AI-driven tools.
- OLX's Elite Buyer program is rapidly expanding and expected to drive higher monetization with business buyers converting to paid users, increasing ARPU.
2 more points from Cartrade Tech Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Cartrade Tech Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
- CarTrade Tech Limited maintains very little capital expenditure or operating investments, focusing on being asset-light and working capital-light.
- The company emphasizes leveraging partnerships with physical dealers and partners (e.g., Spinny, dealer groups) to handle operational and physical aspects, while CarTrade focuses on brand, digital technology, and AI tools.
- Rather, the strategy is partnering rather than owning physical assets.
- Tech investments have been made, especially in tooling and AI initiatives (e.g., VAYA AI for condition check, pricing, matchmaking), but these do not represent heavy capital outlay.
2 more points from Cartrade Tech Ltd's call on capex
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FundraisingQ1 FY27 call
See what Cartrade Tech Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Cartrade Tech Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Retailing
on management's own guidance
- Strong growth2
- Strong growth1
- Entero Healthcare Solutions LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Retailing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,264 Cr | 38.2 | |
| 2 | 40%+ | Flat | ₹6,053 Cr | 53.9 | |
| 3 | Entero Healthcare Solutions Ltd | 20–40% | Up 0–2% | ₹6,899 Cr | 53.5 |
| 4 | 20–40% | Up 0–2% | ₹790 Cr | 19.0 | |
| 5 | 20–40% | Flat | ₹3.14L Cr | 725.0 | |
| 6 | 20–40% | Flat | ₹1.12L Cr | 170.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Retailing rankingFinancials of Cartrade Tech Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Cartrade Tech Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIIs + | 71.93% | 69.71% | 59.31% | 51.63% | 55.12% | 60.96% | 67.30% | 68.51% | 64.58% | 60.15% | 54.37% | 51.21% |
| DIIs + | 4.38% | 4.96% | 12.91% | 22.01% | 19.67% | 15.36% | 10.49% | 9.95% | 9.97% | 12.07% | 15.63% | 19.40% |
| Public + | 23.68% | 25.33% | 27.78% | 26.36% | 25.21% | 23.68% | 22.20% | 21.54% | 25.44% | 27.79% | 29.98% | 29.40% |
| No. of Shareholders | 3,05,593 | 2,89,384 | 2,79,172 | 2,58,990 | 2,27,256 | 1,95,201 | 1,77,058 | 1,52,103 | 1,54,468 | 1,45,442 | 1,45,505 | 1,42,659 |
Financials of Cartrade Tech Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 120 | 139 | 145 | 142 | 154 | 176 | 170 | 173 | 193 | 210 | 203 | 201 | 213 |
| Expenses + | 99 | 113 | 118 | 120 | 122 | 126 | 123 | 130 | 130 | 131 | 132 | 138 | 137 |
| Operating Profit | 21 | 25 | 27 | 22 | 33 | 50 | 46 | 44 | 64 | 78 | 72 | 63 | 76 |
| OPM % | 18% | 18% | 19% | 16% | 21% | 28% | 27% | 25% | 33% | 37% | 35% | 31% | 36% |
| Other Income + | -2 | -32 | 17 | 15 | 18 | 17 | 20 | 25 | 29 | 12 | 18 | 26 | 23 |
| Interest | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 9 | 10 | 10 | 10 | 11 | 11 | 10 | 9 | 9 | 9 | 11 | 11 | 11 |
| Profit before tax | 8 | -19 | 31 | 24 | 37 | 53 | 53 | 57 | 80 | 78 | 75 | 75 | 85 |
| Tax % | 34% | 26% | 20% | 7% | 17% | 15% | 14% | 17% | 20% | 21% | 6% | 24% | 23% |
| Net Profit + | 5 | -24 | 25 | 23 | 31 | 46 | 46 | 47 | 64 | 62 | 71 | 57 | 66 |
| EPS in Rs | 0.64 | -5.17 | 4.80 | 4.72 | 5.89 | 9.01 | 8.82 | 9.03 | 12.53 | 11.68 | 13.49 | 10.67 | 12.24 |
Financials of Cartrade Tech Ltd
Profit & Loss
Annual income statement trend
| 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 | 827 |
| Expenses + | 195 | 131 | 213 | 258 | 210 | 446 | 330 | 410 | 490 | 522 | 538 |
| Operating Profit | -162 | -53 | 30 | 40 | 40 | -133 | 34 | 80 | 152 | 258 | 289 |
| OPM % | -499% | -68% | 12% | 14% | 16% | -43% | 9% | 16% | 24% | 33% | 35% |
| Other Income + | 18 | 20 | 24 | 20 | 32 | 46 | 64 | 3 | 70 | 84 | 78 |
| Interest | 0 | 0 | 3 | 4 | 5 | 7 | 9 | 10 | 12 | 13 | 13 |
| Depreciation | 1 | 3 | 15 | 17 | 20 | 25 | 29 | 37 | 41 | 39 | 42 |
| Profit before tax | -146 | -37 | 35 | 39 | 47 | -119 | 61 | 36 | 168 | 290 | 313 |
| Tax % | 0% | 0% | 27% | 20% | -120% | 2% | 33% | 44% | 14% | 16% | |
| Net Profit + | -146 | -37 | 26 | 31 | 103 | -121 | 40 | 20 | 145 | 244 | 255 |
| EPS in Rs | -461.48 | -107.09 | 48.39 | 63.43 | 258.07 | -28.33 | 7.26 | 3.05 | 28.38 | 46.58 | 48.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Cartrade Tech Ltd
Balance Sheet
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 4 | 47 | 47 | 47 | 47 | 48 | 49 |
| Reserves | 948 | 1,185 | 1,193 | 1,224 | 1,638 | 1,933 | 1,997 | 2,023 | 2,173 | 2,436 | 2,583 |
| Borrowings + | 31 | 35 | 68 | 77 | 93 | 77 | 86 | 112 | 131 | 140 | 129 |
| Other Liabilities + | 39 | 28 | 159 | 163 | 189 | 220 | 210 | 326 | 353 | 385 | 406 |
| Total Liabilities | 1,021 | 1,252 | 1,424 | 1,467 | 1,924 | 2,276 | 2,340 | 2,508 | 2,705 | 3,009 | 3,166 |
| Fixed Assets + | 792 | 789 | 1,010 | 1,016 | 1,022 | 1,041 | 1,042 | 1,489 | 1,497 | 1,522 | 1,537 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 7 |
| Investments | 165 | 405 | 287 | 295 | 645 | 884 | 985 | 510 | 614 | 910 | 1,033 |
| Other Assets + | 65 | 58 | 127 | 157 | 255 | 351 | 312 | 509 | 594 | 576 | 589 |
| Total Assets | 1,021 | 1,252 | 1,424 | 1,467 | 1,924 | 2,276 | 2,340 | 2,508 | 2,705 | 3,009 | 3,166 |
Financials of Cartrade Tech Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -50 | 35 | 17 | 35 | 63 | 48 | 16 | 171 | 257 | |
| Cash from Investing Activity + | -222 | -20 | -8 | -341 | -281 | -17 | 13 | -138 | -231 | |
| Cash from Financing Activity + | 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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 99% | 174% | 65% | 114% | -58% | 149% | 37% | 113% | 109% |
Financials of Cartrade Tech Ltd
Ratios
Working capital efficiency and return 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 | 15 |
| ROCE % | -5% | 2% | 3% | -6% | 3% | 4% | 8% | 12% |
Guidance history
How Cartrade Tech Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | — | — | — |
| Q4 FY26 call → | 20–40% | Flat | — | — | — |
| Q3 FY26 call → | 20–40% | Flat | None planned | — | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
27 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −21.3% | 35% |
| Last 6 months | +43.2% | 87% |
| Last 3 months | −16.7% | 25% |
The price is 28.9% below its all-time high of ₹3,268 (17 Nov 2025). Stocks more than 20% below their peak have their score halved, so 54 became 27.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Cartrade Tech Ltd: 0.4 × 35 + 0.4 × 87 + 0.2 × 25 = 54, halved to 27 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Cartrade Tech Ltd's management said in earlier quarters
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