Investor presentationSep 2026
Sep 2026 · PPT
Source: Bse
Cartrade Tech Limited (CARTRADE)
Large CapServices stocks · Large cap · NSE
CarTrade Tech operates online platforms for buying and selling new and used vehicles (CarTrade, CarWale, BikeWale), an online classifieds platform (OLX India) for various used products, and a remarketing business for vehicle auctions and inspections. It leverages technology and data across B2B, B2C, C2C, and C2B transactions.
Data qualityFresh enough for analysisQuote updated 21 Oct, 12:15 pm ISTDetails
Quote21 Oct, 12:15 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result29 Jul, 04:51 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
69Bullishfull bull SMA stack · SMA20 -2.4% / mo · MACD + · near 52W high
Stock trend: 69
Sector RS: —
Services FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Technical chart
CARTRADED candles · FIT view+75.7%TODAY · PROVISIONALLatest price ₹2922.00 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-3.9%
RSI
47
MACD hist
0.11
52W pos
78%
2026-10-21O ₹3040.10H ₹3054.00L ₹2916.60C ₹2922.00Vol 1.7L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CARTRADENifty 500
- CARTRADE
- +10.1%
- Nifty 500
- -5.6%
- Vs Nifty 500
- +15.6 pp
Chart stats
19 Oct 2026- From 52W high
- -7.8%
- 52W range position
- 85%
- ATR (14)
- 4.5%
- Volume vs 20D
- 0.76x
- Avg traded value
- ₹93.5 Cr
- 20D price channel
- ₹2,739.8 - ₹3,253.2
₹3,290.5
₹1,600 - ₹3,290.5
₹136.2
Latest completed session
20-session average
50.4% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST38
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent80
Revenue +16.2% · PAT +21.3% YoY
Technical
Bullish69
Price trend and sector-relative-strength timing.
Valuation
Legacy model-127.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Healthy Trust76
medium confidence · 4/4 claims checked
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 80/100Rev +16% YoY · PAT +21% YoY · margin expansion · operating leverage
Filed 29 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹201 Cr | +16.2% | -1.0% |
| EBITDA | ₹63 Cr | +43.2% | -12.5% |
| Operating margin | 31.0% | +600 bps | -400 bps |
| PAT | ₹57 Cr | +21.3% | -19.7% |
| PAT margin | 28.4% | +119 bps | -662 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 61.50
- P/B
- 5.80
- EV/EBITDA
- 46.77
- Market Cap
- 14640.00Cr
Profitability
- ROE
- 9.65%
- ROCE
- 11.80%
- ROA
- 8.41%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 26.00%
- EPS 5Y
- 20.00%
- Revenue 3Y
- 29.00%
- EPS 3Y
- 89.00%
Balance Sheet
- Debt/Equity
- 0.06
- Interest Coverage
- 21.23×
- Altman Z
- 8.00
- Book Value
- 519.00
Cash Flow
- FCF Yield
- 0.18%
- FCF Positive Y
- 6/5
- OCF
- 257.00 Cr
- EPS TTM
- 48.37
Shareholding
- Promoter Hold
- —
- Promoter Pledge
- 0.00%
- Momentum 52W
- 84%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 201-1.0% vs prev
Net Profit
₹ CrLatest: 57.0-19.7% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 47.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~2.1% over last month) — short-term momentum negative.
- RSI(14) at 47 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 11% off 52W high · 83% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
87
RS percentile
Stage 2 UptrendEstablished S2
1M return
+1.5%
3M return
+10.1%
6M return
+69.9%
1Y return
-3.3%
RS 1D
-4
RS 20D
0
Sector rank
#4
Industry rank
-
Stage evidence
- Price is 24.6% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +7.1%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
21 Aug 2026
S2 age
40 trading sessions
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 125.13+1.76%
RS vs Nifty 500125
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth18/25
Quality3/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
38
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
38/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 18/25 to the score.
- Balance sheet contributes 8/15 to the score.
Main drags
- Fair-value margin of safety is negative at -127.5%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 3/20; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
61.5
PB
5.8
EV/EBITDA
46.8
ROE
9.7%
ROCE
11.8%
FCF Yield
0.2%
Debt/Equity
0.1
MoS
-127.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
38
Previous: 38
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-127.5%
Previous: -136.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
38
38
38
36
36
36
36
38
38
38
38
38
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹751.56
-288.8% MoS
Growth-justified P/E
26.6
Growth-justified Value
₹1,284.22
-127.5% MoS
PEG
1.92
Comparable companies
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
JUSTDIAL
Micro
Just Dial Limited
Internet Services
match 49
48
12.7
3.4%
-16%
FAIR VALUE
NAUKRI
Mid
Info Edge (India) Limited
Internet Services
match 38
42
53.6
1.8%
-86%
WATCHLIST
ECLERX
Large
eClerx Services Limited
IT Services / Digital
match 24
58
25.2
28.4%
+6%
FAIR VALUE
SWIGGY
Mid
Swiggy Limited
Internet Services
match 22
15
—
-29.1%
—
OVERVALUED
FSL
Small
Firstsource Solutions Limited
IT Services / Digital
match 18
44
24.9
17.6%
+7%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-12T07:55:14.279Z
Management commentary snapshot
CarTrade Tech reports strong FY26 performance with PAT up 68% to ₹244 Crores and EBITDA up 70%, driven by growth across all segments.
The company demonstrates robust financial growth and expanding margins, with PAT and EBITDA showing significant YoY increases. Its diversified platform strategy across new/used autos and classifieds, coupled with a strong organic user base and asset-light model, supports continued profitability and market leadership claims. Management's focus on AI-led solutions and ecosystem expansion suggests further monetization opportunities.
Current business mix
Revenue from Operations (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Consumer39.6%
Remarketing33.3%
Classifieds27.9%
Growth engines
Market Leadership in New Auto
PositiveCompany claims #1 destination for New Cars & Bikes online with 150M+ annual users and 47M+ unique monthly engaged users.
Dominance in Used Car Ecosystem
PositivePlatforms host the largest used car inventory, representing 63% of all used car listings in India.
Scaled Multi-Category Classifieds
PositiveOLX India is the only scaled platform for used products, with ~30M monthly users and ~3bn$ GMV worth used products sold.
Phygital Auction Marketplace
PositiveRemarketing Group is the largest phygital auction marketplace with ~1.7 million auctions a year and 130 Auto malls.
Capacity and execution
Physical Locations
PositiveCompany operates 500+ physical locations across 90 cities, supporting its phygital model.
Auto Malls
PositiveRemarketing business utilizes ~130 Auto malls across 90 cities.
Tailwinds
Large & Growing Auto Market
PositiveIndia's new auto market continues to scale with strong demand (~4-4.6M PVs, ~20-22M 2-wheelers annually).
Expanding Used Car Market
PositiveIndia's used car market continues to expand with rising Average Selling Prices (~5.5M used cars sold annually).
Digital Tailwinds
PositiveStrong digital tailwinds support the company's online platforms across auto and used products.
Institutional Supply Acceleration
PositiveInstitutional supply is accelerating in the large and growing used vehicle market, benefiting the remarketing business.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are relevant. YoY provides a clear view of annual growth and structural margin expansion across segments, which is crucial for a digital platform. QoQ highlights sequential momentum and operational efficiency, especially in the context of quarterly segment performance and new product launches.
Sector KPIs management disclosed
Monthly Unique Visitors (Consumer Group)
Positive47M+ unique monthly engaged users on new auto platforms.
Organic Traffic (Consumer Group)
Positive>90% Organic Traffic for new auto platforms.
Used Car Listings (India)
Positive63% of all used car listings of India hosted on company platforms.
Monthly Users (OLX India)
Positive~30M monthly users on OLX India.
Management forward view
Future Opportunities in New Auto
NeutralManagement sees future opportunities in Online Buying, Financing, and AI* Brand in the new auto segment.
Ecosystem Expansion in Used Auto
NeutralMultiple opportunities identified across B2C, C2B, C2C, Retail, Partnerships, and FinTech in the used auto ecosystem.
Monetization Engines for OLX India
NeutralRevenue opportunities include Dealer products, C2C listings, Partnerships, FinTech, Escrow, Logistics, and Retail.
Leveraging Tech & Data for Remarketing
NeutralCompany aims to fuel Inter-Geo growth by leveraging technology and data in the remarketing segment.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| PAT Growth | FY26 PAT up 68% YoY to ₹244 Crores | Sustained high double-digit PAT growth in subsequent quarters and fiscal years. |
| EBITDA Margin | FY26 EBITDA margin at 33% | Maintenance or further expansion of EBITDA margins, indicating continued operational efficiency and scale benefits. |
| Segmental Revenue Growth | Consumer +30%, Remarketing +22%, Classifieds +13% (FY26 YoY) | Consistent growth across all key segments, particularly the Classifieds segment, to ensure diversified revenue streams. |
| User Engagement & Organic Traffic | 76M+ monthly unique visitors, >95% organic traffic (company-wide) | Continued high organic traffic and user engagement metrics, crucial for an asset-light digital platform. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
revenue outlookdelivered
OLX's growth rate is expected to surpass current levels in the coming quarters, with management feeling very optimistic about its growth.
Timeframe: coming quarters, next few quartersDirection: increaseConfidence: very optimistic
"we feel very optimistic about the next few quarters for growth in OLX"
Outcome check: Revenue YoY averaged 19.4% across 2 later quarter(s).
revenue outlookdelivered
A new trust verification program for OLX will likely launch by the end of the current quarter and become an additional monetization opportunity from the next quarter onwards.
Timeframe: end of this quarter (launch), next quarter and quarters after that (monetization)Direction: increaseConfidence: probable
"will probably get launched by end of this quarter. And that will become an additional monetization opportunity"
Outcome check: Revenue YoY averaged 19.3% across 1 later quarter(s).
revenue outlookdelivered
The Consumer Group is expected to accelerate growth further over the next quarter, few quarters, and years.
Timeframe: next quarter, a few quarters, and yearsDirection: accelerate growth furtherConfidence: strong
"we do see the Consumer Group accelerating growth even further or growing over the next quarter, a few quarters and definitely years as well"
Outcome check: Revenue YoY averaged 19.3% across 1 later quarter(s).
revenue outlookdelivered
The Elite Buyer Program is expected to provide additional monetization opportunities for OLX in the coming quarters and years, with management feeling very optimistic about its performance.
Timeframe: coming quarters and coming years, next few quartersDirection: increaseConfidence: very optimistic
"additional monetization opportunities for us, especially like the Elite Buyer Program in the coming quarters and coming years"
Outcome check: Revenue YoY averaged 19.4% across 2 later quarter(s).
Trust Score
76Healthy Trust · medium confidenceClaim-tested Trust
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Management has 100% delivered/partly-delivered outcomes on 4 checked claims. It ranks around the 81st percentile of the scored universe and 87th percentile within Services. No major sub-score weakness stands out.
High Trust: 4/4 extracted management claims have outcome checks; 100% were fully delivered and 0 were partially delivered. 4/4 matched management claims were delivered.
Computed 21 Oct 2026
management-trust-v1
41 extracted concalls · 4/4 claims matched
Score band
Healthy Trust
Generally investable credibility. Look for weak sub-scores before increasing position size.
Relative rank
81st percentile
overall median 67 · Services: 87th pctile, median 66 · Large: 62nd pctile, median 73
Evidence depth
Early sample
4/4 claims checked. Use as directional, not final.
Claim delivery
100% delivered or partly delivered
4/4 claims checked · No contradicted claim yet
How to read this Trust Score
Healthy Trust · medium confidenceWhat it measures
Reliability of management and financial delivery, using management claims matched with later outcomes.
Confidence
Useful directional evidence exists, but still verify the latest filings.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
76
strong · capital discipline
Results
77
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.2%.
- ▸6 years of positive FCF.
- ▸Debt/equity is 0.06.
Trust risks
- ▸OPM spread across recent quarters is 16%.
Continue researching Cartrade Tech Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Notice Of 26Th AGM & Annual Report Of Cartrade Tech Limited - Letter To Shareholder For Non - Email Case. 3 Sep - CarTrade Tech sent AGM notice; 26th AGM scheduled for September 25, 2026 at 11:00 A.M. via VC/OAVM.
Source: Bse
Annual reportSep 2026
Sep 2026 · Notice Of 26Th AGM & Annual Report Of Cartrade Tech Limited 3 Sep - 26th AGM on September 25, 2026; FY26 annual report and e-voting details released.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 24 Sep - OLX India and Landmark Cars partner to launch a phygital pre-owned car platform across India.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 21 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 17 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 14 Sep - OLX India launched Elite Buyer for Businesses; sign-ups topped 100,000 and 5,000 new buyers daily.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Sep
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 7 Aug
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.