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.

CarTrade Tech Limited reported a consolidated net profit of ₹567.53 lakhs for the quarter ended June 30, 2026, marking a year-on-year increase of approximately 19.33–20.40% from ₹470.63 lakhs in Q1FY25. The Mumbai-based automotive technology company also saw its consolidated revenue from operations rise 16.3% to ₹2,011.63 lakhs, up from ₹1,730.40 lakhs in the corresponding period last year. Notably, the company reported 80 million monthly active users (MAU) across its platforms, up from 76 million in the previous quarter, reflecting continued audience growth. The Q1 profit growth of approximately 19.33% YoY is in line with the company's FY27 guidance of 15–20% growth.

The Board of Directors approved the unaudited standalone and consolidated financial results on July 29, 2026, pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. S.R. Batliboi & Associates LLP, the statutory auditors, issued a limited review report with no qualifications. The results reflect the impact of ongoing salary restructuring aligned with the new Labour Codes notified by the Government on November 21, 2025.

Platform Engagement

CarTrade Tech's user engagement metrics showed meaningful sequential improvement, with MAU across platforms rising to 80 million from 76 million in the prior quarter. This growth in active users underscores the expanding reach of the company's digital automotive ecosystem, spanning its Consumer, Remarketing, and Classifieds verticals.

Segment Performance

Revenue growth was consistent across CarTrade Tech's core business verticals. The Consumer segment led with revenue of ₹781.10 lakhs, up from ₹663.82 lakhs YoY. Remarketing revenue reached ₹672.33 lakhs, compared to ₹593.96 lakhs previously, while Classifieds contributed ₹621.79 lakhs against ₹481.43 lakhs in Q1FY25. Total segment revenue before inter-segment eliminations stood at ₹2,075.23 lakhs.

Key Financial Metrics

Consolidated other income surged to ₹285.75 lakhs from ₹254.61 lakhs in Q1FY25, primarily driven by a ₹169.60 lakh gain on fair valuation/sale of financial assets. Employee benefit expenses rose to ₹834.70 lakhs from ₹752.22 lakhs, reflecting higher payroll costs. Finance costs remained stable at ₹31.89 lakhs. The company recorded an exceptional item expense of ₹30.76 lakhs related to actuarial assessments for salary restructuring under the new Labour Codes, following a ₹65.07 lakh charge in FY26.

Standalone Results

On a standalone basis, CarTrade Tech reported a net profit of ₹257.37 lakhs for Q1FY26, up from ₹229.94 lakhs in Q1FY25. Standalone revenue from operations increased 17.7% to ₹781.10 lakhs. Basic earnings per share (EPS) stood at ₹5.37, compared to ₹4.84 in the prior year quarter. Diluted EPS was ₹5.15 versus ₹4.50 previously. The standalone entity also recorded an exceptional item expense of ₹30.76 lakhs due to Labour Code compliance restructuring.

What the Numbers Show

The combination of 80 million MAU, broad-based segment revenue growth, and profit expansion of approximately 19.33% YoY positions CarTrade Tech within its stated FY27 guidance range of 15–20% growth. While operational revenue grew 16.3%, other income also contributed significantly to the 20.40% net profit expansion at the consolidated level. The divergence between the surge in other income and moderate operating margin growth highlights a continued reliance on non-operating gains, even as core business fundamentals strengthen across all segments.