CarTrade zooms over 450% in 2 years after tanking 79% against issue price

Shares of CarTrade Tech were up 6 per cent, at ₹1,807.10 on the National Stock Exchange (NSE) on Friday. The stock had hit a new high of ₹1,885, surpassing its previous high of ₹1,834.95 touched on February 1, 2025.

 

On Monday, at 10:08 AM, CarTrade Tech was trading 0.53 per cent higher at ₹ 1,816.70, after hitting an intra-day high of ₹1,846 on the NSE.

 

Thus far in the month of March 2025, the stock has surged 25 per cent. The market price of CarTrade Tech, one of India’s largest online classifieds and auto auction platforms, has zoomed 453 per cent from its all-time low of ₹341.05 on March 29, 2023. Prior to that, it fell 79 per cent against its issue price of ₹1,618 per share. CarTrade Tech made its stock market debut on August 20, 2021. 

 

On Friday, March 21, 2025, global investment management firm Vanguard Group bought 713,835 shares, or 1.5 per cent stake, worth ₹128.81 crore of CarTrade Tech via bulk deals on the NSE.

 

As per NSE data, Vanguard acquired the shares at ₹1,804 per apiece. Of these 713,835 shares, Vanguard Emerging Markets Stock Index Fund bought 330,802 shares and Vanguard Group Inc AC Vanguard Total International Stock Index Fund acquired 383,033 shares, the exchange data shows. The names of the sellers could not be ascertained immediately.

 

Meanwhile, thus far in the January to March quarter, ICICI Prudential Mutual Fund reduced its stake in CarTrade Tech by 2.19 percentage points. As per disclosures made by the mutual fund, its holding in the company reduced to 3.44 per cent. ICICI Prudential Mutual Fund held 5.63 per cent holding in CarTrade Tech at the end of December 2024 quarter, the shareholding pattern data shows.

 

CarTrade Tech is a multi-channel auto sales platform, with its presence spread across all vehicle types and value-added services. The platform operates under several brands: CarWale, CarTrade, Olx India, Shriram Automall, BikeWale, CarTrade Exchange and Adroit Auto. These platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles in a simple and efficient manner.

 

The company, one of India’s largest online classifieds and auto auction platforms, reported a strong growth, with revenue surging by 27 per cent to ₹193 crore in the October to December 2024 quarter. Its earnings before interest, tax, depreciation and amortisation (Ebitda) were up by 98 per cent YoY, at ₹ 50.08 crore, against ₹25.35 crore in Q3FY24. Ebitda margins improved to 25.96 per cent from 16.7 per cent.

 

CarTrade's revenue for the first nine months (April to December) of the financial year 2024-25 (9MFY25) grew by 32 per cent year-on-year at ₹521.53 crore. Earnings before interest, tax, depreciation and amortisation (Ebitda) were up by 100 per cent YoY at ₹104.36 crore, leading to profit after tax (PAT) zooming to ₹99.16 crore. The company had posted a loss of ₹23.55 crore in 9MFY24. The profit growth outpaced revenue growth, reflecting the strong operating leverage in play, the company said.

 

The acquisition of OLX India has significantly expanded the company’s market opportunities, further solidifying its industry leadership. OLX India continued its robust performance, with profits surging 80 per cent in the December 2024 quarter (Q3FY25) compared to Q2FY25.

 

Each of the company's three platforms (CarWale, BikeWale and OLX India) crossed 150 million yearly unique visitors, with more than 90 per cent of the traffic being generated organically. Further, based on Q3FY25 annualised numbers, the remarketing business has achieved 1.5 million listings for auction.

 

This remarkable growth reflects CarTrade Tech Group’s robust performance and reinforces its position as a market leader in the automotive ecosystem. The surge in user engagement has been instrumental in driving strong revenue growth for the company. With a focus on organic growth and customer-centric innovation, the company continues to solidify its position as a leader in the digital automotive space, the company said.

 

Meanwhile, the Indian automotive industry is expected to experience significant recovery in the coming years, driven by the expanding middle-class and increasing demand for both new and used vehicles. This trend is anticipated to drive higher vehicle transactions on the company’s platforms. With an asset-light, technology-driven business model and a strong balance sheet, the management said the company is well-positioned to make strategic investments and acquisitions.