CarTrade Tech share price: The stock was last seen trading higher than the 5-day and 20-day moving averages but lower than the 50-day, 100- and 200-day moving averages. Shares of CarTrade Tech Ltd surged 10.12 per cent in Friday's trade to hit a day high of Rs 444 over their previous close of Rs 403.20. The counter, however, gave up nearly half of its gains in afternoon deals. The sharp movement in the share price came after the company said it has recorded its highest-ever revenue, at Rs 116.60 crore, in Q4 FY23 (2022-23). The company's annual revenue for FY23 stood at Rs 427.72 crore, up 19 per cent on a year-on-year (YoY) basis.
The online auto portal said adjusted EBITDA for the year ended March 31, 2023, came at Rs 124.92 crore, a YoY growth of 28 per cent. CarTrade recorded quarterly adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of Rs 39.83 crore in Q4 FY23.
It reported a PBT (Profit before tax) of Rs 60.57 crore in FY23 and Rs 22.88 crore during Q4 FY23.
Adjusted PAT (Profit after tax) for FY23 stood at Rs 80.00 crore, representing a YoY growth of 42 per cent. Q4 FY23 adjusted PAT came at Rs 28.09 crore.
CarTrade posted a PAT of Rs 40.43 crore during FY23. For Q4 FY23, the figure stood at Rs 17.49 crore.
In terms of operations, the auto portal said it has received 34 million average monthly unique visitors for Q4 FY23, of which 86 per cent was organic.
CarTrade's stock has declined 10.22 per cent so far in 2023 and 34.23 per cent in a year. At today's high price of Rs 444, it traded 30.18 per cent higher from its 52-week low of Rs 341.05, hit on March 29, 2023. That said, the scrip has lost 39.59 per cent from its one-year high of Rs 735, a level seen on July 29 last year.
The stock was last seen trading higher than the 5-day and 20-day moving averages but lower than the 50-day, 100- and 200-day moving averages. The counter's 14-day relative strength index (RSI) came at 60.96. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a negative price-to-equity (P/E) ratio of 176.37. It has a price-to-book (P/B) value of 0.96.
The scrip has a one-year beta of 1.09, indicating high volatility on the counter.
CarTrade is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. It operates under several brands, such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto and AutoBiz.
Meanwhile, Indian equity benchmarks traded higher in afternoon trade today, led by strong gains in technology, state-owned lenders, metals, automobile and energy stocks.