Cartrade Tech Ltd

In an exchange filing, CarTrade said both parties have mutually decided not to proceed with the proposed consolidation in the automotive classifieds space. The discussions were first disclosed on 11 November 2025. The company stated that it will continue to focus on strengthening its existing platforms ' CarWale, BikeWale, OLX India and Shriram Automall. Management said these businesses operate in a large and growing market and offer strong long-term growth potential. CarTrade added that it will keep evaluating strategic opportunities as part of its normal business process and will disclose any material developments as required. CarTrade Tech is India's largest digital marketplace ecosystem, operating multiple platforms including CarWale, BikeWale, CarTrade, OLX India, Shriram Automall, CarTrade Exchange, and Adroit Auto. These platforms empower millions of users including consumers, dealers, OEMs, and enterprises to buy and sell vehicles, real estate, electronics, mobile phones, furniture, and more with ease and efficiency. On a consolidated basis, the company reported revenue of Rs 222.14 crore in Q2FY26, resulting in YoY growth of 29%. Profit after tax for the quarter stood at Rs 64.08 crore, resulting in YoY growth of 109%. The stock hit a record high of Rs 3,291.35 on 17 November 2025. Powered by Capital Market - Live

CarTrade Tech was in preliminary discussions with Girnar Software regarding a potential consolidation opportunity in the automotive classifieds businesses (CarDekho and BikeDekho) in India. Now, the parties have mutually decided not to proceed with the proposed transaction at this stage. Accordingly, the transaction is not being pursued for now.Powered by Capital Market - Live

The company said it is exploring a potential consolidation of their automotive classifieds businesses as part of its ongoing growth strategy. CarTrade added that the talks are limited to the auto classifieds segment and exclude Girnar's financing, insurance, and other non-automotive operations. CarTrade clarified that no binding or definitive agreement has been signed yet. If any binding document is executed, the company will make the necessary disclosure in accordance with SEBI's Listing Obligations and Disclosure Requirements, it said in a statement. CarTrade Tech is India's largest digital marketplace ecosystem, operating multiple platforms including CarWale, BikeWale, CarTrade, OLX India, Shriram Automall, CarTrade Exchange, and Adroit Auto. These platforms empower millions of users including consumers, dealers, OEMs, and enterprises to buy and sell vehicles, real estate, electronics, mobile phones, furniture, and more with ease and efficiency. On a consolidated basis, CarTrade reported revenue of Rs 222.14 crore in Q2FY26, resulting in YoY growth of 29%. Profit after tax for the quarter stood at Rs 64.08 crore, resulting in YoY growth of 109%. Powered by Capital Market - Live

Net profit of Cartrade Tech rose 113.99% to Rs 59.66 crore in the quarter ended September 2025 as against Rs 27.88 crore during the previous quarter ended September 2024. Sales rose 25.42% to Rs 193.41 crore in the quarter ended September 2025 as against Rs 154.21 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales193.41154.21 25 OPM %32.8821.20 - PBDT89.2947.78 87 PBT79.9237.14 115 NP59.6627.88 114 Powered by Capital Market - Live

Cartrade Tech has allotted 1,87,800 equity shares under ESOP on 28 October 2025. Consequent to the allotment, the paid up equity share capital has increased to Rs. 47,79,37,600/- comprising of 4,77,93,760 equity shares of face value of Rs 10 each. Powered by Capital Market - Live

The company reported a consolidated net profit of Rs 64.08 crore in Q2 FY26, up 109% year-on-year from Rs 30.73 crore in Q2 FY25. Total income stood at Rs 222.14 crore, marking a robust 29% YoY increase from Rs 172.23 crore a year ago. EBITDA rose 94% YoY to Rs 63.6 crore in Q2 FY26 compared with Rs 32.7 crore in Q2 FY25, with margins expanding to 33% in Q2 FY26 from 21% in Q2 FY25. Profit before tax (PBT) jumped 115% YoY to Rs 79.93 crore from Rs 37.14 crore, supported by strong growth in revenue. The Consumer Group business continued to scale profitably, delivering 37% YoY growth in revenue and 82% YoY growth in PAT. The Remarketing Business also posted solid numbers with 23% YoY growth in revenue and 30% YoY growth in PAT, reinforcing its market leadership in vehicle remarketing. Meanwhile, OLX India maintained strong momentum, posting 17% YoY growth in revenue and a remarkable 213% YoY rise in profits, driven by operating leverage and integration of synergies. During the quarter, CarTrade Tech attracted approximately 85 million average monthly unique visitors, with 95% of the traffic being organic, reflecting the company's strong brand equity and content leadership. The company now has a presence across 500+ physical locations through Shriram Automall, CarWale abSure, Signature dealers, and OLX India franchisees'further strengthening its pan-India reach and last-mile connectivity. Its leading digital platforms'CarWale, BikeWale, and OLX India'collectively cater to more than 150 million annual unique visitors, highlighting its position as one of India's most comprehensive auto ecosystems. The remarketing business achieved an annualized run-rate of 1.8 million listings for auctions, underlining its dominant position in vehicle remarketing. Vinay Sanghi, chairman and founder, CarTrade Tech, said, We are delighted to deliver yet another record quarter with strong growth across all our businesses. The consistent momentum in revenues and profitability reflects the strength of our diversified digital ecosystem and the focus on operational excellence. This quarter, our revenues grew by 29% year-on-year to ₹222 crores and profits rose by 109% to ₹64 crores marking our highest-ever performance. We remain committed to sustainable, profitable growth and creating long-term value for all our stakeholders. CarTrade Tech is India's largest digital marketplace ecosystem, operating multiple platforms including CarWale, BikeWale, CarTrade, OLX India, Shriram Automall, CarTrade Exchange, and Adroit Auto. These platforms empower millions of users including consumers, dealers, OEMs, and enterprises to buy and sell vehicles, real estate, electronics, mobile phones, furniture, and more with ease and efficiency. Powered by Capital Market - Live

Cartrade Tech has appointed Varun Sanghi as Chief Strategy Officer (CSO) and Senior Management Personnel of the Company with effect from 01 November 2025. Powered by Capital Market - Live

Cartrade Tech will hold a meeting of the Board of Directors of the Company on 28 October 2025.Powered by Capital Market - Live

CarTrade Tech announced that its consumer platforms ' CarWale and BikeWale ' witnessed strong growth in traffic during Navratri 2025, underscoring the continued momentum of festive demand and the positive impact of the recent GST rate reduction on the automobile sector. CarWale and BikeWale collectively recorded a 66% year-on-year growth in traffic during Navratri, reflecting heightened consumer engagement and enthusiasm. Banwari Lal Sharma, CEO ' Consumer Business, CarTrade Tech, said: 'The festive season continues to build momentum, and this Navratri has once again shown the trust millions of consumers place in CarWale and BikeWale as their preferred destinations for research and decision-making. We are truly grateful to our users for their continued confidence in our platforms. With consumer sentiment buoyed by festive enthusiasm, we are excited to play a central role in simplifying vehicle buying journeys for Indians across the country.'Powered by Capital Market - Live

The selloff was sparked after a domestic brokerage downgraded the stock to sell from hold, even as it raised the price target to Rs 2,350 from Rs 1,900. The broker flagged rich valuations, noting CarTrade trades at 43x FY27 EBITDA while still relying almost entirely on B2B revenues. It added that while CarTrade runs consumer-facing platforms, they remain exposed to the cyclical nature of B2B spending. Recovery in OLX was termed 'on expected lines,' with no change in forecasts. Rising adoption of generative AI tools like ChatGPT and Perplexity over Google Search was also cited as a risk for the company. Despite the correction, the stock remains up 39.4% in three months and 153.35% over the past year. On 10 September 2025, the company said the government's recent GST cuts on passenger vehicles, two-wheelers, and used vehicles would boost affordability, lift consumer sentiment, and accelerate volumes across new and used categories. CarWale and BikeWale have already recorded a 25% surge in consumer traffic following the tax reduction. Management expects momentum to strengthen during the festive season, supported by higher dealer and OEM participation, improved affordability, and seasonal demand. 'The GST reduction is a game-changer for India's automobile industry,' said Banwari Lal Sharma, CEO ' Consumer Group, adding that it will act as a catalyst for both new and used segments. CarTrade Tech operates across multiple auto platforms, including CarWale, CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. The company posted a 105.59% YoY rise in consolidated net profit to Rs 47.06 crore in Q1 FY26, while revenue from operations grew 22.27% to Rs 173.03 crore. Powered by Capital Market - Live