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Informist, Tuesday, Jul. 28, 2026

By Somen Bose

MUMBAI – Online marketplace CarTrade Tech Ltd. is expected to report a significant surge in consolidated net profit for the June quarter on margin expansion in core classified businesses, according to the brokerages tracking the company.

The Mumbai-based company is expected to report a consolidated net profit of INR 623 million for the June quarter, up 45% on year but down nearly 4% sequentially, according to the average of estimates from four brokerages. The highest estimate for net profit is INR 724 million from Nomura Equity Research and the lowest is INR 537 million from Kotak Securities Ltd.

CarTrade's net sales for the June quarter are expected at INR 2.09 billion, up 21% on year and 3% sequentially. The highest estimate is INR 2.16 billion from 360 ONE Capital Market Pvt. Ltd. and the lowest is INR 2.04 billion from Nomura.

CarTrade owns vehicle trading platforms such as CarWale, BikeWale and CarTradeExchange, the omnichannel vehicle auction company Shriram Automall India Ltd., the vehicle inspection company Adroit Auto, and the classifieds portal OLX India. The company serves over 80 million monthly users.

"CarTrade management is increasingly focusing on building an AI-led, transaction-oriented platform, with multiple AI initiatives for OLX," JM Financial Institutional Securities Pvt. Ltd. said. "Beyond Elite Buyers, the business is concurrently working on initiatives around Elite Sellers, verified users, escrow-led transactions and fintech services that could unlock further monetisation opportunities."

The company is expected to report earnings before interest, tax, depreciation, and amortisation in the range of INR 613 million to INR 646 million for the reporting quarter, according to the estimates from three brokerages. The company had posted an EBITDA of INR 435.1 million in the year-ago quarter. The highest EBITDA estimate is INR 646 million from Nomura and the lowest is INR 613 million from Kotak.

The company's EBITDA margin for the June quarter is seen expanding in the range of 32.2% to 37.2%, according to the brokerages. The EBITDA margin was nearly 22% in the year-ago quarter and 35% in the trailing quarter. The expansion in margin is supported by operating leverage in the advertising business and cost rationalisation in the Shriram Automall business, brokerages said.

Of the three research reports on the company available with Informist, all have a 'buy' recommendation on the stock at an average target price of INR 3,565 per share. This is about 20% higher than the current market price.

Tuesday, shares of the company closed at INR 2,962.7 on the National Stock Exchange, down 0.5% from the previous close. The share price is up 54% since the company announced its March quarter earnings on May 7.

The following are the Apr-Jun earnings estimates for CarTrade Tech from six brokerages, in descending order of the estimates of net profit, in INR million:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Shubhayan Bhattacharya

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