CarTrade Tech Limited delivered its highest-ever quarterly total income of ₹230 crore for the quarter ended June 30, 2026 (Q1FY27), marking a 16% year-on-year increase. The automotive digital platform achieved a 45% surge in EBITDA to ₹63 crore, expanding the margin to 31%, while profit after tax (PAT) rose 21% YoY to ₹57 crore. This performance highlights significant operating leverage and margin expansion across its diversified business segments, reinforcing its position as one of India’s most profitable listed digital platforms.

The results were filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Lalbahadur Pal, Company Secretary and Compliance Officer, certified the submission to the Bombay Stock Exchange and the National Stock Exchange of India Limited on July 29, 2026. The company maintains a debt-free balance sheet with cash reserves of ₹1,321 crore.

Segment Performance

Growth was broad-based across all three primary business verticals. The Consumer Group, comprising CarWale and BikeWale, saw revenue from operations rise 18% to ₹78.11 crore, with EBITDA growing 33% to ₹25.86 crore and an EBITDA margin of 33%. The Remarketing Group, which includes Shriram Automall and Adroit Auto, reported a 13% revenue increase to ₹67.23 crore and a 38% EBITDA jump to ₹19.01 crore, with an EBITDA margin of 28%. OLX India delivered the strongest momentum, with revenue soaring 29% to ₹62.18 crore and EBITDA leaping 76% to ₹18.12 crore, achieving an EBITDA margin of 29%.

What the Numbers Show

A key analytical observation is the divergence between top-line growth and margin expansion. While overall revenue grew 16%, EBITDA expanded at nearly three times that rate (45%), indicating significant operating leverage. This was supported by disciplined cost management; employee costs rose only 11%, and marketing expenses declined 9% year-on-year despite higher traffic. Furthermore, OLX India’s contribution to consolidated EBITDA grew disproportionately faster than its revenue, suggesting improved monetization efficiency in the classifieds segment. Profit before tax grew 31% YoY to ₹75 crore, while profit before exceptional item and tax rose 36% to ₹78 crore. An exceptional item of ₹307.55 lakh related to labour law impact reduced PAT but did not derail the overall positive trajectory.

Operational Highlights

The company reported approximately 80 million average monthly unique visitors during Q1FY27, with 95% of unique visitors to CarWale, BikeWale, and CarTrade arriving via organic search. Its flagship digital platforms each cater to more than 150 million annual unique visitors. The Remarketing business delivered an annualized run-rate of 1.5 million auction listings, reaffirming its leadership position in the vehicle remarketing space. Management highlighted the launch of VAYA AI for used car matchmaking and guided buying assistants for new cars as key drivers for future transaction volume growth. CarTrade Tech now operates across more than 500 physical locations, including Shriram Automall, CarWale abSure, and OLX India franchise outlets.

Vinay Sanghi, Chairman and Founder, attributed the results to "disciplined execution, operating leverage and a continued focus on profitable growth." He emphasized that the launch of VAYA AI reflects the company’s focus on leveraging technology and AI to enhance customer experience and create long-term value.

Cartrade Tech has reappointed M/s MGB & Co. LLP as its internal auditor for the financial year 2026-27. The company’s Audit Committee and Board of Directors approved the appointment during their meeting held on July 29, 2026. This decision ensures continuity in the firm’s internal audit functions and aligns with statutory requirements under the Companies Act 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations, as well as the SEBI circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The appointment confirms that MGB & Co. LLP will serve as the internal auditor for the entire fiscal year ending March 31, 2027.

Auditor Profile and Scope

M/s MGB & Co. LLP is a multidisciplinary firm with a registered office at Peninsula Business Park, Lower Parel, Mumbai. The firm holds Firm Registration Number (FRN) 101169W/W-100035. According to the filing, MGB is a 46-year-old peer-reviewed firm offering services in internal audit, assurance, taxation, IFRS, tax advisory, compliance, asset management, corporate finance, and risk consulting.

The firm’s professional team includes chartered accountants, MBAs, CPAs, insolvency professionals, registered valuers, CISA and CFE experts, company secretaries, lawyers, and engineers. The scope of the reappointment covers the conduct of internal audits for the financial year 2026-27.

Appointment Details

The company confirmed that there are no relationships between the directors and the appointed auditor that would require disclosure under the relevant regulations. The detailed information regarding the appointment is available on the company’s website at cartradetech.com.

What This Means

The reappointment of an established audit firm like MGB & Co. LLP signals stability in CarTrade Tech’s governance framework. Internal auditors play a critical role in evaluating risk management, control, and governance processes. By retaining a firm with diverse expertise in IFRS and risk consulting, the company aims to maintain robust internal controls throughout FY27. There are no changes in the audit mandate or scope compared to previous years, indicating a consistent approach to compliance and oversight.