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Online automobile marketplace operating CarWale, CarTrade and Shriram Automall for new/used vehicle listings and auctions.
Online automobile marketplace operating CarWale, CarTrade and Shriram Automall for new/used vehicle listings and auctions.
Earns three kinds of fees: advertising from carmakers on its new-car site, listing and subscription fees from used-car dealers, and commissions on vehicles sold at its auctions, especially lender-repossessed ones. It bought OLX India's car-classifieds business in 2023 to add a mass-market used-car audience.
In one line: India's CarGurus/Copart hybrid for vehicle listings and auctions.
Moat: narrow (brand, network effects). Established classifieds brand and physical auction network for used/repossessed vehicles.
Headquarters: Mumbai, India · Founded: 2009 · Employees: 1,152
Size CarTrade Tech (CARTRADE.NS) is an India Information Technology company (Internet Software/Services) with a market value of $1.39B, the 491st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,700 on 6 Nov 2026.
Performance Over six months the shares gained 40.5%, against -6.0% for the median peer and 0.0% for the India market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 16.1% over the last twelve months (peer median +6.7%); the operating margin is 29.9% (peer median 8.9%).
Valuation It trades at 47.7× forward earnings against a peer median of 12.7× (2nd most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is +9 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.3 points below its cost of capital (10.6% WACC).
Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹8.27B | ₹7.79B | ₹6.41B | ₹4.90B | ₹3.64B |
| Revenue growth | — | +21% | +31% | +35% | — |
| Gross profit | ₹2.47B | ₹4.11B | ₹2.92B | ₹1.76B | ₹1.02B |
| EBITDA | ₹2.89B | ₹2.60B | ₹1.56B | ₹824M | ₹369M |
| Net income | ₹2.31B | ₹2.23B | ₹1.35B | ₹143M | ₹340M |
| Free cash flow | n/a | ₹2.47B | ₹1.90B | ₹252M | ₹453M |
| Capital expenditure | n/a | ₹266M | ₹53.9M | ₹29.1M | ₹71.1M |
| Total debt | ₹1.29B | ₹1.40B | ₹1.31B | ₹1.12B | ₹864M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CARTRADE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.4% | +0.3% | 7th lowest of 21 |
| 6-month return | +40.5% | -6.0% | 4th highest of 21 |
| Distance from 52-week high | -17.9% | -37.7% | 7th highest of 21 |
| Revenue growth (TTM) | +16.1% | +6.7% | 7th highest of 21 |
| Operating margin | 29.9% | 8.9% | 3rd highest of 21 |
| Forward P/E | 47.7× | 12.7× | 2nd most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 34.5% | 1.5% | most demanding of 15 |
| Growth delivered (Del g) | +25.6% | +10.2% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | +8.9 pp | -9.7 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | -1.3 pp | +3.8 pp | 6th lowest of 17 |
| EV / EBITDA | 42.6× | 8.1× | 2nd most expensive of 15 |
| Net debt / EBITDA | -3.3× | -0.9× | 3rd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CarTrade Tech CARTRADE.NS | India | $1.39B | +40% | +16% | 30% | 47.7× | 34.5% | +25.6% |
| Trustpilot TRST.L | United Kingdom | $1.36B | +12% | +19% | 5% | 52.4× | 32.7% | +20.0% |
| Mony MONY.L | United Kingdom | $1.42B | +21% | +2% | 26% | 11.1× | -0.7% | +5.3% |
| NHN 181710.KS | South Korea | $1.34B | +44% | +12% | 6% | 16.3× | -4.4% | +8.9% |
| WEBTOON Entertainment WBTN | United States | $1.31B | -27% | 0% | -3% | n/a | n/a | n/a |
| Weibo 9898.HK | Hong Kong | $1.58B | -24% | +2% | 25% | 5.2× | n/a | n/a |
| Huawen Media 000793.SZ | China | $1.19B | -34% | 0% | -14% | n/a | 17.8% | -34.6% |
| Baltic Classifieds BCG.L | United Kingdom | $1.14B | -99% | +7% | 68% | 0.2× | 15.2% | +15.9% |
| Ziff Davis ZD | United States | $1.70B | +21% | -8% | 10% | 8.9× | -10.6% | +4.6% |
| Moonpig MOON.L | United Kingdom | $1.13B | +41% | +7% | 21% | 15.2× | 3.7% | +0.3% |
| TBO Tek TBOTEK.NS | India | $1.80B | +24% | +74% | 11% | 41.6× | n/a | n/a |
| Yelp YELP | United States | $1.06B | -28% | +2% | 13% | 8.1× | -18.4% | +10.9% |
| XinhuaNet 603888.SS | China | $1.89B | -7% | -1% | 8% | n/a | 22.6% | +9.3% |
| EverQuote EVER | United States | $1.02B | +41% | +24% | 11% | 14.3× | -7.0% | +14.8% |
| D-MARKET Elektronik Hizmetler ve Ticaret AS Sponsored ADR HEPS | United States | $979M | -3% | +22% | -3% | n/a | n/a | n/a |
| Sify Technologies Limited Sponsored ADR SIFY | United States | $941M | -20% | +11% | 8% | n/a | n/a | n/a |
| BuySell Technologies 7685.T | Japan | $938M | -28% | +58% | 11% | 15.0× | -1.2% | +46.8% |
| Omada Health OMDA | United States | $924M | +2% | +48% | 0% | 37.1× | 28.7% | +42.9% |
| LegalZoom.com LZ | United States | $897M | -19% | +12% | 4% | 6.7× | 6.1% | +9.9% |
| TeamViewer TMV.DE | Germany | $894M | -5% | +2% | 34% | 5.2× | -11.0% | +10.4% |
| iQIYI, Inc. Sponsored ADR IQ | United States | $886M | -20% | -3% | -2% | n/a | n/a | n/a |