CarTrade Tech Ltd (CARTRADE) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Cofacto Research Published October 23, 2026 4 min read

Quick Details

Results date	October 28, 2026
Quarter	Q2 FY 2026-2027
Previous quarter revenue	Rs. 20,116.32 lakhs (+16% YoY)
Previous quarter PAT	Rs. 5,675.29 lakhs (+21% YoY)
Previous quarter EBITDA margin	31% vs 25% in Q1 FY26
Market cap	Rs. 13,913.9 Cr
CMP	Rs. 2,860.0

CarTrade Tech Ltd Q2 Results Date and Time

The Board will meet on October 28, 2026 to approve the Q2/H1 FY27 unaudited financial results (Regulation 29(1), SEBI LODR). The trading window for designated persons is shut from October 1 to October 30, 2026.

A conference call for Q2/H1 FY27 results is scheduled for October 28, 2026 at 12:30 PM IST. Participants include Vinay Sanghi, Aneesha Bhandary and Varun Sanghi.

Key Things To Watch

Guidance scorecard: Management's stated goals and where each stands:

Consolidated PAT — approximately Rs. 1,000 Cr (4X from Rs. 243 Cr) within 4-5 years — reaffirmed at Q1 FY27 call
Consolidated EBITDA margin — to surpass 31% in subsequent quarters after Q1 FY27, typically peaking in Q4
Margin expansion across all business segments — expected in FY27 on stable costs
Escrow and logistics products — launch within FY27; used-car financing products with banks/NBFCs — next few quarters

Margin trajectory and labour-code cost risk

Whether consolidated EBITDA margin rebounds above Q1 FY27's 31% toward the 35%-37% printed in Q3/Q4 FY26, consistent with the wage-increase base effect and Q4-peak seasonality
Any fresh labour-code exceptional — the EPF wage ceiling rose from Rs. 15,000 to Rs. 25,000 effective Sep 17, 2026, and prior exceptionals were Rs. 650.71 lakhs (Q3 FY26) and Rs. 307.55 lakhs (Q1 FY27)
Whether Adjusted EBITDA margin holds around 42% (Q1 FY27: 42% vs 37% YoY)

Consumer Group and OLX growth prints

Consumer Group re-acceleration from 18% growth in Q1 FY27 (vs 37% in Q2 FY26 and 27% in Q3 FY26); management expects improvement in subsequent quarters
OLX sustaining its Q1 FY27 pace of 29% revenue growth and 76% EBITDA growth against the 'improve from ~18.5%' guidance bar
Remarketing seasonality — whether Q2 FY27 shows the promised improvement from Q1's muted base, with retail (45% contribution) and repo (41%) momentum

Tax normalization and leadership transition

OLX effective tax rate tracking toward the normalized 23-24% (Q1 FY27 consolidated effective rate: 23.84%)
Updates on the Consumer Business structure after CEO - Consumer Business Banwari Lal Sharma's resignation effective Aug 25, 2026 after 22+ years

Frequently Asked Questions

How sustainable are CarTrade Tech's margins as they scale?

Management expects the 80-90% incremental revenue-to-profit conversion to continue as consolidated margins move higher, and Vinay Sanghi said of 55-60% Consumer Group margins: 'i just see no reason why not'. Consolidated EBITDA margin was 31% in Q1 FY27 vs 25% a year ago, with margins typically peaking in Q4.

What did management say about the Spinny partnership economics?

The current model earns listing fees on 100 ads and transaction revenues on 20 sold cars, with the aim of moving to a margin-sharing/commission model expected to improve margins. Management declined to disclose financial details or Spinny's annual sold-car volumes.

Why is CarTrade Tech's ROE at 10% despite strong profit growth?

Management attributed the 10% ROE primarily to the large cash balance, which stood at Rs. 1,321 Cr at Q1 FY27 with zero debt. Capital returns are constrained for two to three years by tax shelters and carry-forward losses.

Is CarTrade Tech on track with its Rs. 1,000 crore profit guidance?

Management reaffirmed at the Q1 FY27 call that it feels 'pretty comfortable and confident' of the approximately Rs. 1,000 Cr consolidated PAT guidance (a 4X increase from Rs. 243 Cr) within the next 4-5 years. It declined to give year-by-year milestones toward that goal.

Did CarTrade Tech's user traffic actually decline last quarter?

No — an analyst-flagged sequential MAU decline was corrected by management, which clarified that Q1 FY27 MAU was higher both sequentially and YoY. The platforms count 150+ million yearly active users with 76M+ monthly unique visitors and over 95% organic traffic.