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CarTrade stocks: Buy CarTrade Tech, target price Rs 840: JM Financial

has buy call on with a target price of Rs 840. The current market price of CarTrade Tech Ltd. is Rs 606.25. Time period given by analyst is one year when CarTrade Tech Ltd. price can reach defined target.

CarTrade Tech Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 2830.99 Crore) operating in Services sector.

CarTrade Tech Ltd. key Products/Revenue Segments include Other Services, Used Cars and Income From Advertisement for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 92.77 Crore, down -12.38 % from last quarter Total Income of Rs 105.88 Crore and up 47.16 % from last year same quarter Total Income of Rs 63.04 Crore . Company reported net profit after tax of Rs 3.32 Crore in latest quarter.

Investment Rationale
The brokerage expects the company to deliver revenue/adj. EBITDA of 25%/45% over FY22-25E with strong tailwinds in Auto industry and operating leverage expected due to inherently higher margin business models

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 19.55 per cent, DIIs 5.44 per cent.

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