CarTrade Tech hits record FY26 on operating leverage, shares jump on margin-led beat

CarTrade Tech, the digital marketplace operator behind CarWale, BikeWale, OLX India and Shriram Automall, delivered its strongest annual performance in FY26 as higher operating leverage lifted profitability across the business. Revenue for the year rose 22% year on year to ₹870 crore, EBITDA surged 70% to ₹257 crore, and PAT climbed 68% to ₹244 crore, according to the company’s results filing and press release.

For the March quarter, revenue increased 19.8% to ₹203.14 crore from ₹169.5 crore a year earlier, while EBITDA jumped 55.6% to ₹71.8 crore and PAT rose 54% to ₹64.6 crore. The company said FY26 was its highest-ever year on revenues, profits and margins.

Operating leverage kicks in

The stronger profit growth than revenue growth points to a clear operating-leverage story. CarTrade said EBITDA margin improved to 33% for FY26, while Q4 EBITDA margin stood at 35%, reflecting better monetisation and tighter cost control across its consumer, remarketing and classifieds businesses.

Management said the performance was driven by “strong execution and operating leverage across all our businesses.” Vinay Sanghi, chairman and founder, said, “FY26 has been a landmark year for CarTrade Tech, with the Company delivering its highest-ever revenues, profits and margins, driven by strong execution and operating leverage across all our businesses.”

Traffic and business mix

The company’s scale metrics also strengthened. CarTrade said it engaged about 76 million average monthly unique visitors in Q4 FY26, with organic traffic accounting for 95%, stressing the strength of its brand-led traffic model.

Its digital platforms — CarWale, BikeWale and OLX India — each attracted more than 150 million annual unique visitors, while the company’s physical footprint crossed 540 locations across Shriram Automall, CarWale abSure, Signature dealerships and OLX India franchise outlets. The remarketing business also reported an annualized run-rate of 1.7 million auction listings.

Segment momentum broadens

Growth was broad-based across segments. In Q4, consumer revenue rose 25% year on year, remarketing revenue increased 22%, and OLX India revenue grew 16%. EBITDA margins were strong across businesses at 39% for consumer, 31% for remarketing and 33% for OLX India.

The company said it remains focused on building AI-led products and future-ready technology platforms to improve customer experience and strengthen market leadership across the mobility and classifieds ecosystem.

Shares of CarTrade Tech ended Thursday 6.34% higher at ₹1,921.8 apiece on the NSE. The stock is now at its highest close since Feb. 23, 2026. The scrip has surged nearly 15% over the past year, outperforming the Nifty 500, which has risen just over 5% during the same period.