The company posted a 10% year-on-year increase in revenue from operations to Rs 213 crore, alongside a 20% rise in EBITDA. Nomura raised its price target, forecasting operating leverage to lift margins by 80 to 100 basis points despite cutting near-term revenue estimates by 3%. The platform also demonstrated robust engagement by attracting approximately 76 million average monthly unique visitors, 96% of which stemmed from organic traffic.
Key points
Consumer segment growth is expected to rebound in the second half of FY27 and FY28 as aut…: Consumer segment growth is expected to rebound in the second half of FY27 and FY28 as auto launches pick up.
Physical expansion now spans more than 500 locations across Shriram Automall, CarWale abS…: Physical expansion now spans more than 500 locations across Shriram Automall, CarWale abSure, Signature dealers, and OLX franchisees.
Digital platforms including CarWale, BikeWale, and OLX India continue to attract over 150…: Digital platforms including CarWale, BikeWale, and OLX India continue to attract over 150 million unique visitors each year.
Sources checked by our analysis pipeline: 1
The company’s revenue from operations came in at Rs 213 crore, marking a 10% increase from Rs 193 crore reported in the corresponding quarter of the previous financial year. EBITDA grew 20% to Rs 76 crore from Rs 64 crore in the year-ago period. OLX India maintained strong momentum, with a 26% YoY growth in revenue and a 36% YoY increase in EBITDA.
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Global brokerage Nomura raised the target price to Rs 3,377 from Rs 3,340, implying an upside potential of 37% from current levels. Analysts expect growth in CarTrade Tech’s consumer business to improve in 2HFY27 and FY28, supported by easing demand pressures and an increase in new car launches. The brokerage noted that the business faced an adverse base effect in the second quarter.Nomura sees significant growth potential in OLX over the medium term as its monetisation initiatives gain traction. Adoption of the Elite buyer offering reached around 3% by September and is expected to increase further.
The brokerage has lowered its revenue estimates by around 3%, mainly due to the consumer…
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