Auto auction platform CarTrade has allotted 69,000 equity shares under its existing Employee Stock Option Plans (ESOPs), boosting its paid-up share capital and witnessing a significant surge in its stock price.
In a regulatory filing, the company stated that its Board of Directors approved the allotment of 69,000 equity shares with a face value of INR 10 each to eligible employees.
The allotment was made under the Employee Stock Option Plan 2010 (ESOP 2010), Employee Stock Option Plan 2015 (ESOP 2015), and Employee Stock Option Plan 2021 (I) [ESOP 2021 (I)].
With this fresh allotment, CarTrade’s paid-up share capital has increased from INR 47,36,70,850 to INR 47,43,60,850, bringing the total issued shares to 47,43,60,850.
Stock Performance & Financial Growth
Shares of CarTrade opened at INR 1,368.80 apiece on the Bombay Stock Exchange (BSE) on Wednesday (January 29).
Given the stock’s opening price, the value of the newly allotted shares is estimated at INR 9.44 crore.
During intraday trading, CarTrade’s stock surged by 18.65%, reaching High of INR 1,624.20 per share.
The strong market reaction follows CarTrade’s impressive financial performance in Q3 FY25.
The company reported a consolidated net profit of INR 45.53 crore, a dramatic turnaround from a loss of INR 23.55 crore in the same period last year.
On a quarter-on-quarter basis, net profit jumped 48% from INR 30.72 crore.
EBITDA also saw a remarkable growth of 98% year-over-year, reaching INR 50.07 crore in Q3 FY25 from INR 25.35 crore in Q3 FY24.
Sequentially, EBITDA rose 53% from INR 32.70 crore. This resulted in a substantial EBITDA margin improvement from 18% in Q3 FY24 to 28% in the latest quarter.
Operating revenue surged 27% to INR 176.21 crore in Q3 FY25, compared to INR 138.58 crore in Q3 FY24. On a sequential basis, revenue grew by 14.3% from INR 154.20 crore in the previous quarter.
CarTrade’s Market Presence
Founded in 2009 by Vinay Sanghi and Rajan Mehra, CarTrade is a leading player in the Indian auto marketplace, facilitating the sale of both new and used vehicles.
The company operates several well-known brands, including OLX India, CarWale, BikeWale, CarTradeExchange, Shriram Automall, Adroit Auto, and Autobiz. It also provides technology solutions to OEMs and automobile dealers.
