CarTrade Tech Limited (CARTRADE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-62.1%

₹929.40

vs ₹2,454.00 price

Levered DCF

₹2,053.01

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

19.81

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	37.53×	60.58×	43.33×	53.44×	-20.18×	67.1×	283.75×	412.38×
P/B	3.37×	3.66×	1.6×	0.89×	1.35×	3.69×	4.61×	5.59×
P/S	10.74×	12.69×	6.76×	5×	8.53×	24.85×	19.5×	28.28×
EV / EBITDA	24.83×	54.61×	41.96×	54.26×	-20.2×	158.47×	146.89×	233.6×
Gross margin	100.0%	55.1%	49.1%	41.0%	-9.7%	46.5%	48.9%	46.4%
Operating margin	28.0%	48.5%	42.3%	32.7%	-18.1%	38.9%	38.9%	35.9%
Net margin	28.6%	21.0%	2.9%	9.3%	-42.2%	37.0%	6.9%	6.9%
Current ratio	4.79×	3.7×	3.33×	8.14×	7.98×	7.12×	4.56×	3.77×
Debt / equity	0.06×	0.06×	0.05×	0.04×	0.04×	0.03×	0.03×	0.03×
Interest coverage	17.49×	25.13×	20.2×	13.78×	-7.9×	20.77×	27.68×	29.6×
Dividend yield	0.0%	0.0%	0.0%	0.3%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	15.7%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.0%	6.1%	0.7%	1.7%	-6.7%	5.5%	1.6%	1.4%
Return on invested capital	6.6%	10.8%	7.6%	3.6%	-2.6%	5.3%	6.2%	4.8%
Return on assets	7.4%	5.0%	0.6%	1.5%	-5.8%	4.8%	1.4%	1.2%
Free cash flow yield	2.8%	2.0%	0.4%	2.3%	2.2%	0.5%	0.2%	0.5%
Earnings yield	2.7%	1.7%	0.4%	1.9%	-5.0%	1.5%	0.4%	0.2%
Enterprise value	₹84.7B	₹82.4B	₹34B	₹18.8B	₹27.1B	₹62.4B	₹58.4B	₹68.9B
Net debt / EBITDA	0.29×	0.68×	1.11×	1.74×	-0.32×	0.83×	0.57×	0.4×
Cash conversion cycle (days)	74	32	28	-1,614	92	53	92	59