Cartrade Tech Limited (CARTRADE) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Cartrade Tech Limited stock ₹1,576, price ₹2,703, that is 41.7% below the price, quality 80 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range ₹347.90 – ₹3,268 · fair‑value band ₹1,016 – ₹2,360 · the ₹2,703 price screens above the ₹1,576 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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CarTrade Tech Limited operates a multi-channel online automotive platform in India and internationally. The company provides services, including buying, selling, marketing, valuation, and financing of new and pre-owned vehicles.
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It also offers new car original equipment manufacturers (OEM) solutions that provides OEMs with consumer insights and data-driven solutions for building their digital marketing strategies; new car dealer solutions, which offers customers content and research tools, such as car reviews, on road prices, car specifications, car images, car finance offers, and others; used car dealer solutions to buy and sell used cars; and technology solutions for OEMs and dealers, including dealer management systems and auto finance solutions.
In addition, the company provides new two-wheeler OEM and dealer solutions; online and offline auctioning of vehicles comprising cars, bikes, trucks, farm equipment, and construction equipment; inspection and valuation services for banks and insurance companies; and technology solutions to OEMs, dealers, banks, NBFCs, insurance companies, leasing companies, fleet owners, etc. to inspect and valuate vehicles.
Further, it operates a platform that offers smart, safe and convenient way to buy and sell cars, find housing, get jobs, buy and sell household goods, under the OLX India brand name.
The company offers its services under the CarWale, Shriram Automall, Adroit Auto, BikeWale, CarTrade, DriveASmile, Cartrade Infotech, CarTrade Ventures, Mobility Outlook, and CarWale abSure brands. CarTrade Tech Limited was incorporated in 2000 and is based in Navi Mumbai, India.
Stock analysis
Cartrade Tech Limited (CARTRADE) currently trades at ₹2,703, while our model-based Fair Value estimate is ₹1,576, 42% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,503 per share, and 0 of the 24 models we run sit above the ₹2,703 price.
Bear case: the Economic Profit group reads lowest at ₹326.29, and 24 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹1,016 (bear) to ₹2,360 (bull), the price of ₹2,703 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 80/100 (high quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Cartrade Tech Limited reported revenue of ₹7.8B in FY2026 versus ₹3.1B in FY2022, a compound +25.6%/yr. Reported net income was ₹2.2B in FY2026.
Key figures
Market cap ₹135B (≈ $1.4B) Small · P/E ratio 58.5 · P/S ratio 16.4 · EPS (TTM) ₹46.22 · Net margin 28.0% · Return on equity 9.8% · Return on assets (EBIT) 5.9% (5-year average) · Operating margin 37.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −13% fair-value upside, at −42%, CARTRADE screens richer than that median.
Fair Value models
Bear₹1,016Fair Value ₹1,576Bull₹2,360
Price ₹2,703 · Downside -41.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹28.49 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+21.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+28.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.6%
Start year 2021 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+29.1%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +13.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.0%
Dividend (yield on the price)0.0%
⚠ Rate on operating basis: 2026 sits 566% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+40.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+18.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +34.5% a year for the price and +14.2% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Auto & Truck Dealerships · 87 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score80 · Top 25%
Fair Value upside−41.7% · Bottom 25%
Profitability
Return on equity (12 months)9.8% · Above median
Return on assets7.4% · Top 25%
Net margin (12 months)28.0% · Top 25%
Operating margin (12 months)37.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)22.1% · Above median
Valuation Multiplesvs Auto & Truck Dealerships median · lower = cheaper
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Is Cartrade Tech Limited (CARTRADE) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of ₹1,576 versus a price of ₹2,703, about 42% lower (overvalued).
What is the fair value of CARTRADE?
Our model-based fair value for Cartrade Tech Limited is ₹1,576 (as of Nov 10, 2026), built from audited fundamentals. The current price: ₹2,703.
What is the quality score of CARTRADE?
Cartrade Tech Limited has a Quality Score of 80/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cartrade Tech Limited (CARTRADE)?
Our model-based price target is the fair value of ₹1,576 (as of Nov 10, 2026) from 24 valuation models. Cautious scenario ₹1,016, optimistic scenario ₹2,360. It is a calculation from audited fundamentals, not an analyst target.
What is the Cartrade Tech Limited stock forecast for 2026?
Our models put fair value at ₹1,576, about 42% lower versus a price of ₹2,703 (overvalued). Cautious scenario ₹1,016, optimistic scenario ₹2,360. The calculation is refreshed regularly with new filings.
What is the revenue of Cartrade Tech Limited (CARTRADE)?
Cartrade Tech Limited reported trailing-twelve-month revenue of about ₹8.2B (latest available figure, as of Nov 10, 2026).
What growth is priced into Cartrade Tech Limited (CARTRADE)?
For today's price to be fair in a discounted-cash-flow model, Cartrade Tech Limited would have to grow free cash flow by +40.1 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +25.6 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of CARTRADE use?
Our models discount Cartrade Tech Limited at 13.9 %: a base by market capitalisation (small), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cartrade Tech Limited that is +40.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Cartrade Tech Limited (CARTRADE) delivered so far?
Over the past 5 years revenue at Cartrade Tech Limited grew +25.6 % a year. The price currently implies free-cash-flow growth of +40.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cartrade Tech Limited (CARTRADE) growing?
The median revenue growth in the sector is +4.4 % a year. That is the yardstick for the growth priced into Cartrade Tech Limited (+40.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cartrade Tech Limited (CARTRADE)?
The free-cash-flow yield on the price is 1.71 %: that much free cash flow Cartrade Tech Limited produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cartrade Tech Limited (CARTRADE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cartrade Tech Limited it is ₹1,576 per share (as of Nov 10, 2026), against a price of ₹2,703. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Cartrade Tech Limited stock overvalued or undervalued in 2026?
As of Nov 10, 2026, CARTRADE trades above its calculated fair value: price ₹2,703, fair value ₹1,576, a gap of about −42% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CARTRADE?
No. The price is what the market pays today (₹2,703); the fair value is what the company's own numbers justify (₹1,576). For Cartrade Tech Limited the two are ₹1,128 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cartrade Tech Limited worth?
The market values Cartrade Tech Limited at about ₹135B (market capitalisation, as of Nov 10, 2026). Per share that is ₹2,703; our models calculate a fair value of ₹1,576 per share.
What do the bullish and bearish scenarios say about CARTRADE?
Our models span a range for Cartrade Tech Limited: cautious scenario ₹1,016, base ₹1,576, optimistic ₹2,360 per share (as of Nov 10, 2026, price ₹2,703). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CARTRADE?
Cartrade Tech Limited trades at a price-to-earnings ratio of 58.5 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,576 is built from several models across several years. Other multiples: P/B 5.4, P/S 16.4, EV/EBITDA 53.1.
How solid is the balance sheet of Cartrade Tech Limited (CARTRADE)?
Balance-sheet figures for Cartrade Tech Limited (as of Nov 10, 2026): return on equity 9.8%. They feed the Quality Score of 80/100, which measures business quality independently of the share price.
How far is CARTRADE from its 52-week high?
Cartrade Tech Limited trades at ₹2,703, about 17% below its 52-week high of ₹3,268 and 67% above the low of ₹1,623 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,576 is for.
Which stocks are comparable to Cartrade Tech Limited?
From the same area (Consumer Cyclical) we also value Carvana Co, Penske Automotive Group, D'Ieteren Group, Hotai Motor Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cartrade Tech Limited stock attractive at the current price?
The data as of Nov 10, 2026: price ₹2,703, calculated fair value ₹1,576 (−42%), Quality Score 80/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CARTRADE calculated?
We run Cartrade Tech Limited through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹1,576 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Cartrade Tech Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cartrade Tech Limited (CARTRADE)?
The closing price on Nov 9, 2026 was ₹2,703. Our model-based fair value is ₹1,576, about 42% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cartrade Tech Limited right now?
A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (₹2,360). The favourable scenario is already priced in. A fairly wide model range (₹1,016 to ₹2,360) leaves room in how you read the outcome.
Key figures of Cartrade Tech Limited
How large is the market capitalisation of Cartrade Tech Limited (CARTRADE)?
The market capitalisation of Cartrade Tech Limited is ₹135B (≈ $1.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cartrade Tech Limited (CARTRADE)?
The price-to-sales ratio of Cartrade Tech Limited is 16.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cartrade Tech Limited (CARTRADE)?
Earnings per share at Cartrade Tech Limited are ₹46.22 (price ÷ EPS = P/E 58.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cartrade Tech Limited (CARTRADE)?
The net margin of Cartrade Tech Limited is 28.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cartrade Tech Limited (CARTRADE)?
The return on equity (ROE) of Cartrade Tech Limited is 9.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cartrade Tech Limited (CARTRADE)?
On an EBIT basis the return on assets of Cartrade Tech Limited is 5.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cartrade Tech Limited (CARTRADE)?
The operating margin of Cartrade Tech Limited is 37.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cartrade Tech Limited (CARTRADE)?
Revenue at Cartrade Tech Limited is growing +22.1% versus a year earlier (3y avg +28.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cartrade Tech Limited (CARTRADE)?
Earnings per share at Cartrade Tech Limited are growing −0.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cartrade Tech Limited (CARTRADE) carry?
The net debt of Cartrade Tech Limited is ₹992M (fiscal year 2026, ≈ 0.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 10, 2026