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Used car pricing adjustment lag from GST cuts
View Risks →Cartrade Tech Limited — Q3 FY26
CarTrade Tech delivered a record quarter with ₹228 crore revenue (highest ever), 78 crore EBITDA (up 56% YoY), and 37% EBITDA margin (+900bps YoY).
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CarTrade Tech delivered a record quarter with ₹228 crore revenue (highest ever), 78 crore EBITDA (up 56% YoY), and 37% EBITDA margin (+900bps YoY). PAT came in at 62 crore (up 35% YoY), impacted by a one-time labor code provision of ₹6.5 crore. All three segments—Consumer, Remarketing, and OLX—posted record revenues and margins. Growth was driven by strong new car industry tailwinds, market share gains, and stable cost structures. Management expects further margin expansion and higher OLX growth rates in Q4, aided by new products like Elite Buyer and verification services. Key risk: used car pricing adjustment lag from GST cuts could temporarily dampen remarketing volumes.
कारट्रेड टेक ने अब तक का सबसे अच्छा तिमाही प्रदर्शन किया है। कंपनी की कमाई 228 करोड़ रुपये (सबसे ज्यादा), मुनाफा (EBITDA) 78 करोड़ रुपये (पिछले साल से 56% ज्यादा) और मुनाफा मार्जिन 37% (पिछले साल से 9% ज्यादा) रहा। कुल मुनाफा (PAT) 62 करोड़ रुपये (पिछले साल से 35% ज्यादा) हुआ, जिस पर 6.5 करोड़ रुपये का एक बार का खर्च लगा। तीनों कारोबार—ग्राहक, रीमार्केटिंग और OLX—ने रिकॉर्ड कमाई और मुनाफा दिया। यह वृद्धि नई कारों की बढ़ती मांग, बाजार हिस्सेदारी बढ़ने और लागत नियंत्रण से हुई। कंपनी को आगे और मुनाफा बढ़ने और OLX की तेज वृद्धि की उम्मीद है। मुख्य जोखिम: GST कटौती के बाद पुरानी कारों की कीमत समायोजन में देरी से रीमार्केटिंग पर असर पड़ सकता है।
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Read Transcript →Quarter Snapshot
Consumer Group Revenue Growth
27%
+27% YoY
Consumer group revenue grew 27% YoY, driven by new car industry growth and digital ad shift.
Consumer Group EBITDA Margin
43%
+800bps YoY
Consumer group EBITDA margin expanded to 43% from 35% last year, reflecting operating leverage.
OLX Revenue Growth
18%
+18% YoY
OLX achieved highest-ever revenue of ₹61.7 crore, with growth expected to accelerate in Q4.
Monthly Active Users (MAU)
85M
N/A
MAU stood at 85 million, with 95% organic traffic, indicating strong user engagement.
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Guidance and risk preview
Management expects OLX revenue growth rate to increase from 18% in Q3, driven by new products like Elite Buyer and verification services.
GST reduction on new cars caused used car prices to correct with a lag, temporarily impacting remarketing conversion rates.
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