Synopsis:
CarTrade Tech Ltd has emerged as a leader in India’s digital auto marketplace, delivering record Q1FY26 results with strong growth across consumer, remarketing, and OLX India businesses. Backed by a debt-free balance sheet, Rs. 1,024 crore cash reserves, and 164 percent stock returns in one year, investor confidence remains high.
The online automobile marketplace industry in India has been witnessing rapid growth, driven by increasing digital adoption, rising demand for used vehicles, and the evolution of remarketing and financing solutions. Within this space, one company has stood out for its consistent ability to scale growth, profitability, and user engagement.
CarTrade Tech Ltd, with a market capitalization of Rs. 11,159 crore, currently trades at Rs. 2,350 per share. Over the past year, the stock has delivered an impressive return of 156 percent, underscoring investor confidence in its strong business model and execution capabilities.
About the Company
CarTrade Tech Ltd operates as a leading multi-channel auto platform with an integrated presence across vehicle types and value-added services. Its well-recognized brands include CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, AutoBiz, and OLX India.
These platforms connect buyers and sellers of new and used automobiles, enabling seamless transactions for consumers, dealers, OEMs, and other ecosystem players. The company offers end-to-end solutions that cover vehicle buying, selling, financing, marketing, and allied services, making it one of the most comprehensive automotive digital platforms in India.
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Operational Highlights – Q1FY26
CarTrade Tech delivered its strongest performance yet in Q1FY26, combining scale with profitability. Its platforms — CarWale, BikeWale, and OLX — collectively crossed the milestone of 150 million users. The company continues to lead the auto portal category in India, with approximately 75 million monthly active users and over 100 million app downloads.
The consumer business was a major growth driver, posting a 32 percent year-on-year increase in revenue and a 79 percent jump in profit after tax, supported by a robust EBITDA margin of 29 percent.
The remarketing segment also showed strong momentum with revenue growth of 36 percent and PAT growth of 258 percent. OLX India, acquired by CarTrade Tech, maintained its growth trajectory with a 71 percent year-on-year surge in profits in Q1FY26.
On the operational front, the company reported 1.4 million auction listings during the quarter and now operates through more than 500 physical outlets, including Automall, abSure, and OLX India locations.
Notably, CarTrade Tech remains debt-free with a strong cash balance of around Rs. 1,024 crore. Marketing expenditure rose to Rs. 8.71 crore in Q1FY26 compared to Rs. 7.49 crore in Q1FY25, reflecting increased brand-building initiatives.
Segment Performance
For Q1FY26, revenue contributions stood at Rs. 6,638.16 lakh from the Consumer segment, up 32 percent year-on-year, Rs. 5,939.57 lakh from Remarketing, up 35 percent year-on-year, and Rs. 4,814.33 lakh from OLX India, up 2 percent year-on-year.
Segment results were equally robust, with the Consumer business delivering Rs. 2,100.56 lakh, Remarketing contributing Rs. 1,382.56 lakh, and OLX India posting Rs. 1,253.41 lakh.
OLX India – Growth Engine within CarTrade
OLX India has emerged as a cornerstone of CarTrade Tech’s portfolio. As India’s leading used products marketplace, OLX enables B2C, C2B, and C2C transactions across goods and services.
For the year ended FY25, the platform attracted over 180 million yearly unique visitors, entirely through organic traffic. With over 26 million products listed and more than 6 million buyers per month, OLX India commands a GMV exceeding USD 3 billion. The business is supported by a robust network of over one million business users, maintaining an EBITDA margin of 29 percent, reflecting its profitability at scale.
Financial Performance – Q1FY26
On a quarter-on-quarter basis, CarTrade Tech’s revenue rose from Rs. 170 crore in Q4FY25 to Rs. 173 crore in Q1FY26, reflecting a growth of 1.7 percent. Operating profit declined slightly from Rs. 46 crore to Rs. 44 crore, down 4.3 percent.
Profit before tax increased from Rs. 53 crore to Rs. 57 crore, registering a 7.5 percent rise. Net profit inched up from Rs. 46 crore to Rs. 47 crore, showing a modest 2.2 percent growth.
On a year-on-year comparison, the performance was significantly stronger. Sales grew from Rs. 142 crore in Q1FY25 to Rs. 173 crore in Q1FY26, up 21.8 percent. Operating profit doubled from Rs. 22 crore to Rs. 44 crore, marking a 100 percent increase.
Profit before tax surged from Rs. 24 crore to Rs. 57 crore, recording a sharp 137.5 percent jump. Net profit also doubled from Rs. 23 crore to Rs. 47 crore, up 104.3 percent year-on-year.
Shareholding
CarTrade Tech Ltd has a strong institutional backing, with foreign institutional investors holding the majority stake at 67.30 percent, including a 2.3 percent ownership by Vanguard Fund. Domestic institutional investors account for 10.49 percent of the shareholding, while the remaining 22.20 percent is held by public shareholders, reflecting broad market participation.
Written By Manan Gangwar
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