CarTrade Tech reports a 28% Y-O-Y Growth in Revenue and Adjusted PAT of Rs. 64 crores for FY 22

James Good Corporate
MUMBAI, India, May 4, 2022 /PRNewswire/ — CarTrade Tech Limited, one of India’s largest online auto platforms, announced its financial results for the year ended March 31, 2022, today. The Company reported its highest ever quarterly revenue of Rs. 106 crores in Q4 FY22, and an annual revenue of Rs. 359 crores for FY22.

Key Highlights:

  • Highest ever quarterly revenue of Rs. 106 crores in Q4 FY22, and closed FY22 at a revenue of Rs. 359 crores
  • Increase in revenue by 28% Y-O-Y as compared to FY21
  • Adjusted EBITDA for the quarter is at Rs. 32 crores and for the year is Rs 97 crores resulting in a Y-O-Y growth of 25%
  • Adjusted PAT for the year ended March 31, 2022 is Rs. 64 crores

Consolidated results for the year ended March 31, 2022

The Company reported a total Revenue of Rs. 358.95 crores, for FY22, a growth of 28% as compared to Rs. 281.52 crores in FY21. Adjusted EBITDA grew by 25% Y-O-Y from Rs. 77.75 crores to Rs. 97.25 crores, resulting in a 27% Adjusted EBIDTA Margin for the year ended March 31, 2022. Adjusted PAT (PAT adjusted for ESOP) for the year ended March 31, 2022 stood at Rs. 64 Crores.

An exceptional and non-recurring, non-cash adjustment of Rs. 185 crores for Employee Stock Options granted in FY22 has been accounted for, resulting in a Net loss after tax for the year ended March 31, 2022, of Rs.121 crores.

Consolidated results for the Quarter ending March 31, 2022

The Company recorded its highest ever quarterly revenue in Q4 FY22 of Rs. 106 crores. The adjusted EBITDA in Q4 FY22 stood at Rs. 32 crores and the adjusted EBITDA margin for Q4 FY22 was at 31%.

Operational Highlights

  • 30 million average monthly unique visitors for Q4 FY22, of which 84.20% were organic
  • The number of listings for auction were 11,63,235 for FY22
  • The volumes sold via auction were 2,40,908 for FY22
  • CarWale abSure delivers a world class online-offline shopping experience for used car buyers and sellers. As of March 31, 2022, the company has a network of 47 CarWale abSure outlets in 32 cities.

Commenting on the performance of the company Mr. Vinay Sanghi, Chairman and Founder, CarTrade Tech said, “I am happy to announce our highest ever revenue in Q4 FY22 of Rs. 106 crores. We closed FY22 at a total revenue of Rs. 359 crores, resulting in a Y-O-Y growth of 28% and our adjusted EBITDA has grown by 25%.”

“We will continue to innovate and further digitalize our offerings to provide a seamless and hassle-free buying and selling experience to our consumers. CarWale abSure will continue to lead the revolution in the used car segment to make the customer journey memorable and satisfying. Currently we have 47 CarWale abSure outlets and plan to have over 120 outlets by March 2023.”

About CarTrade Tech Limited: www.cartradetech.com (NSE: CARTRADE) (BSE: 543333)

CarTrade Tech Ltd. is a multi-channel auto platform with a presence across vehicle types and value-added services. The platform got 30 million average monthly unique visitors (Q4 FY22) and had 1.2 million listings for auction in FY22. The platform operates under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. 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.

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