CarTrade Tech Limited

Incorporated in 2000, CarTrade Tech is a multichannel auto platform, which operates brand names such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. Through these brands, it connects automobile customers, dealerships, manufacturers and other businesses. These brands offer a variety of solutions from buying and selling to the financing of new and pre-owned cars, two-wheelers as well as commercial vehicles, farm and construction equipment. The company’s two platforms—CarWale and BikeWale—are the most popular online auto portals in comparison to their peers. In Q1FY22, these two platforms combined with CarTrade, witnessed on average 27.1 million unique visitors per month, with 88.1% being organic visitors (not arriving via paid marketing channels). CarTrade Tech has a strong digital focus. It uses new technologies such as machine learning and artificial intelligence to enhance customer experience and drive more traffic onto its platforms. Also, the company has an asset-light model and operates 114 auto malls, a majority of which are rented or leased. Between FY19 and FY21, its net profit has grown at a CAGR of 97.4%.