#CarTrade Tech

[freddiemark]

Ixigo Share Price News & Latest Updates: Deciphering the Travel Tech Enigma

Ixigo, India's leading online travel aggregator, has captivated the travel tech industry with its innovative platforms and strategic partnerships. However, Ixigo Share Price journey has been marked by volatility, mirroring the uncertainties of the post-pandemic travel landscape. This article delves into the latest news, financial performance, and key factors influencing Ixigo Share Price, offering a comprehensive overview for informed investment decisions.

Current Ixigo Share Price and Performance:

As of February 12, 2024, Ixigo Share Price stands at ₹71.70, reflecting a significant decline of 30.30% from its IPO price of ₹103.30 in November 2022.

The past month has witnessed considerable fluctuations, with the stock price ranging between ₹68.00 and ₹75.00.

While Ixigo boasts a user-friendly platform and strong brand recognition, concerns regarding industry recovery and intense competition have weighed on Ixigo Share Price.

Recent News and Events:

Acquisition: Ixigo's acquisition of the bus ticketing platform Abhibus in October 2023 expanded its product portfolio and strengthened its presence in the bus travel segment. This news initially boosted investor confidence.

Funding: The company secured ₹400 crore in fresh funding from marquee investors like GIC and CarTrade Tech in December 2023, showcasing continued support for its long-term vision.

Financial Results: Ixigo is yet to release its December 2023 quarter financial results. However, market analysts anticipate improved revenue and bookings compared to the previous quarter, potentially buoying investor sentiment.

Industry Recovery: The travel and tourism industry is witnessing a gradual recovery post-pandemic, presenting a positive backdrop for Ixigo's growth. Continued recovery will be crucial for its success.

Financial Analysis:

Positives: Ixigo boasts a loyal user base, a user-friendly platform, and strategic partnerships with leading airlines and hotels. Additionally, its focus on mobile-first technology positions it well for future growth.

Negatives: The company is yet to achieve profitability, raising concerns about its long-term financial sustainability. Furthermore, its dependence on volatile travel industry trends presents inherent risks.

Investment Outlook:

Ixigo's future trajectory hinges on several key factors:

Industry Recovery: The pace and sustainability of the travel and tourism industry's recovery will significantly impact Ixigo's performance. Favorable industry trends could act as a catalyst for growth.

Competition: The online travel aggregator space is fiercely competitive, with established players like MakeMyTrip and Cleartrip posing significant challenges. Ixigo's ability to differentiate itself through innovation and targeted marketing will be crucial.

Profitability: Demonstrating a clear path to profitability is critical for investor confidence and Ixigo Share Price stability. Achieving this in a competitive and dynamic industry will require strategic cost management and revenue diversification.

Conclusion:

Ixigo presents an intriguing investment opportunity for those seeking exposure to the burgeoning Indian travel tech market. However, the company's path to profitability remains uncertain, and intense competition poses significant challenges. Investors should carefully consider their risk tolerance, investment horizon, and conduct thorough due diligence before making any investment decisions. This article provides a starting point for further analysis, but individual investors should consult with qualified financial advisors for personalized advice.Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Please consult with a qualified financial advisor before making any investment decisions.

[shahananasrin-blog]

[ad_1] CarTrade Tech shares jumped over 7% to the day's high of Rs 570 on the NSE on Thursday after the company reported a 307% year-on-year (YoY) jump in its consolidated June quarter profit at Rs 13.51 crore. The recorded quarterly revenue stood at Rs 106.91 crore in Q1FY24, up 18% YoY.The profit before tax (PBT) for the quarter, soared 316% YoY at Rs 15.77 crore. The adjusted EBITDA for the quarter was at Rs 30.95 crore, up 74% YoY.The company received 3.4 crore average monthly unique visitors for Q1 FY24, of which 85% were organic, the company filing claimed. The number of listings for auction was 250,103 for Q1 FY24 while the volumes sold via auction was 49,112 during the reporting quarter.Commenting on the company’s performance, Vinay Sanghi, Chairman and Founder, CarTrade Tech, said, “I am happy to report that we are amongst a few internet companies that continue to grow and are profitable. In Q1 FY24, we achieved quarterly revenue of Rs 106.91 crores which is an 18% YoY growth. Our PAT for Q1 FY24 stood at Rs 13.51 crores representing more than a 300 % Y-O-Y growth and continues to outpace our revenue growth, as we have an asset-light and scalable business model".CarTrade Tech is a multi-channel auto platform with its presence across all vehicle types and value-added services. The platform operates under several brands viz. CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto, and AutoBiz. These platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs, and other businesses to buy and sell vehicles in a simple and efficient manner.CarTrade Tech shares have underperformed the Nifty50 over a 12-month period and have given negative returns of 10% during this period versus 11% by the broader market index. The newage company stock was listed on August 20, 2021.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) [ad_2]

[gadgetsforusesblog]

Click to read CarTrade launches CarTrade Ventures, plans to invest Rs 750 crore in car space

Automotive platform CarTrade Tech said on Thursday that it has launched CarTrade Ventures and plans to invest Rs 750 crore over the next 5-7 years to fund acquisitions and investments in the automotive sector under this corporate initiative. The company said in a statement that it will seek to acquire and invest in companies that offer differentiated services and technology in the automotive…

[newslobster]

How To Avoid The Next Disaster After Top 5 IPOs (Public Offer) Wipe Out Rs 3.5 Lakh Crore?

How To Avoid The Next Disaster After Top 5 IPOs (Public Offer) Wipe Out Rs 3.5 Lakh Crore?

IPOs: How to avoid the next disaster? When it comes to the stock market, investors tend to be a fickle bunch. They love companies when they’re hot and have crazy narratives spinning around. But they’ll turn on a dime when things go south. The hot tech IPOs of 2021 and 2022 are proof of this. Zomato, Paytm, CarTrade Tech among other companies, which were high on growth, saw massive response when…

[questlation]

CarTrade Tech reports Y-O-Y Growth of 30% in Revenue and 80% in adjusted PAT for H1 FY23

CarTrade Tech reports Y-O-Y Growth of 30% in Revenue and 80% in adjusted PAT for H1 FY23

MUMBAI, India, Oct. 21, 2022 /PRNewswire/ — CarTrade Tech Limited, one of India’s largest online auto platforms, announced its unaudited financial results for the second quarter and half year ended September 30, 2022, today. The Company reported its half year ended revenue of Rs. 195.27 crores in H1 FY23. Key Highlights: Increase in revenue by 30% Y-O-Y as compared to H1 FY22 Adjusted EBITDA…

[investyadnya]

Revenue growth due to increase in auctions but One-time noncash charge affects the profits | CarTrade Tech Q2 FY22 Result Analysis

Revenue growth due to increase in auctions but One-time noncash charge affects the profits | CarTrade Tech Q2 FY22 Result Analysis

Financial Results Revenue from operations for the company stood at Rs. 78 crores in Q2FY22. When compared with 58 crores in Q2FY21, the company registered a YoY growth of 35%. On QoQ basis the growth stood at Rs. 46%.Other income for the company stood at Rs. 10.5 crores as compared to Rs. 6 crores in Q2FY21, a YoY growth of 75%.EBITDA for the company stood at a negative (-22.4) crores as…

[wegwannews]

दसऱ्याच्या आधी हे शेअर्स खरेदी करा ! भरघोस परताव्याची संधी !

दसऱ्याच्या आधी हे शेअर्स खरेदी करा ! भरघोस परताव्याची संधी !

मुंबई l सध्या शेअर बाजारात मोठ्या प्रमाणात तेजी दिसत आहे. BANK NIFTY 38800 च्या वरती खेळात आहे. NIFTY 50 18300 जवळ जाऊन पोहचली आहे. 7 ते 8 दिवसापासून शेअर बाजारात गुंतवणूकदारांना चांगलाच फायदा झाला आहे.तसेच शेअर बाजारात काही शेअर्स आज चांगली कामगिरी करू शकतात. शेअर्समध्ये पडझड हि अनेकदा बातम्यांच्या आधारावर होत असते. आज तुम्ही शेअर मार्केटमधून चांगल्या नफ्याचा विचार करीत असाल तर आम्ही काही शेअर्स…

[hummingzone]

CarTrade Tech garners Rs 900 crore from anchor investors before IPO

CarTrade Tech garners Rs 900 crore from anchor investors before IPO

Online auto labeled platform CarTrade Tech on Friday stated it has raised Rs 900 crore from anchor investors forward of its preliminary public providing, which opens on Monday. The firm has determined to allocate 55,59,664 fairness shares to anchor investors at Rs 1,618 apiece, valuing the transaction measurement to Rs 899.55 crore, in response to a round uploaded on the BSE web site. Nomura,…

[technodabhi]

For passenger vehicles, pre-loved becoming more loved

For passenger vehicles, pre-loved becoming more loved

In FY21, the used car to new car ratio in India was 1.4, but it is projected to reach 2 by FY26, according to the report ‘Used Car Market in India’ released by Praxis Global Alliance. “While the Indian passenger vehicle market was valued at $32 billion in FY21 and is projected to grow at a CAGR of 8% till FY26, the used car market was valued at $18 billion in FY21 and is projected to grow at…

[technomoz]

Startup IPOs: The contrarian view of domestic and foreign institutional investors

Startup IPOs: The contrarian view of domestic and foreign institutional investors

Initial public offerings (IPOs) for startups are sold like hotcakes in the stock market as investors across categories bid in droves for these technologically advanced companies, but are mostly money-losers. The recent past has seen startups like Zomato, Nykaa, Policybazaar and Paytm launch their public versions and debut on the exchanges. Then there was also CarTrade Tech, which can be…

[immortalcapitalltd]

CarTrade Tech IPO Review 2021 – IPO Date, Offer Price & Details!

CarTrade Tech IPO Review 2021 – IPO Date, Offer Price & Details!

CarTrade Tech IPO Review 2021: Another week full of IPOs. CarTrade Tech Ltd has opted to raise Rs. 2,998.51 cr through IPO. The IPO will open from August 9th to August 11th. In this article, we’ll cover the CarTrade tech IPO Review and look into important information on the CarTrade Tech Ltd IPO and find out the possible prospects of the company. CarTrade Tech IPO Review – About the…

[wealthzi]

Nuvoco Vistas and CarTrade Tech IPOs open today; should you subscribe?

The IPO mania continues on Dalal Street. Opening for subscription on August 9 are IPOs of Nuvoco Vistas and CarTrade Tech. The companies will be together mopping up ₹8,000 crore as IPO frenzy reaches fever pitch. Here are all the key details you wanted about the IPOs, business, fundamentals and valuations. Read on.

1. Nuvoco Vistas IPO

Part of Nirma Group, Nuvoco Vistas Corporation Ltd (NVCL) is the fifth largest cement manufacturer in terms of installed capacity. The company is in the industry for 7 years and has been growing inorganically.

The IPO comprises a 23 per cent stake sale by the promoter entity (Niyogi Enterprises), amounting to ₹3,500 crore and a fresh issue for ₹1,500 crore to pare debt.

At a price band of ₹560-570, the company is valued at an EV/EBITDA of about 18 times (FY21). UltraTech Cement and Shree Cements trade at a premium valuation of 20-25 times EV/EBITDA. Other listed peers such as ACC, Ambuja and Dalmia Bharat trade at about 13 times EV/EBITDA.

Nuvoco has a concentrated presence in East, thanks to the recently acquired plants of Emami Cement. Going ahead, the company expects its EBITDA levels to rise by achieving operational efficiencies from its recent acquisitions. The company has debt outstanding of ₹6,885 crore, of which ₹1,500 crore will be repaid post the IPO. Besides, the company has planned capex outlay of about ₹550 crore up to FY23.

The minimum IPO application lot for Nuvoco is 26 shares, which mean investment of ₹ 14,820. Nuvoco IPO closes on August 11 and the shares are expected to get listed on August 23.

What brokers say about Nuvoco Vistas IPO * Canara Bank Securities – “The company utilises 50% of its power requirement through its captive power generation which lead company to derive operating efficiency. The company’s D/E stood at 0.83x in FY2021 and post issue, D/E would stand at ~0.63x. The company would trade at EV/EBITDA of 16.87x for FY21 which is attractive as compared to its peer competitors. We recommend ‘SUBSCRIBE’ for listing and long term gains.”

* IDBI Capital – “NVCL has plan of organic expansion in east of 2.7mtpa (12% addition) over FY22E and FY23E. We understand NVCL IPO at upper band is priced at 10x FY23E EV/EBITDA or EV/t of USD131. Valuation is at discount to its large cap peers at 12x-19x FY23E EV/EBITDA. Discount partially factors high debt in its books (FY21 Net Debt / EBITDA of 4.5x) and low ROCE. But given up-cycle in the cement industry and expectation of improvement in margin and balance sheet deleveraging over FY21-23E we recommend SUBSCRIBE.”

2. CarTrade Tech IPO

CarTrade Tech (CTT) is an asset light tech company operating as market place for automotive sales. The company is diversely held and has no promoter. Its IPO consists entirely of a secondary offer of sale by existing shareholders of around ₹3,000 crore, will value the company at a market cap of around ₹7,400 crore.

The IPO values the company at a price to revenue (trailing) of around 30 times and EV/ revenue of around 27 times. However, the revenue considered here includes 100 per cent revenue of a subsidiary (Shriram Automall) in which the company has only 55 per cent economic interest.

The company derives revenues from the three main segments. One, the Shriram Automall platform where it makes commission and fees for sale of used cars in its platform (57 per cent of FY21 revenue). Two, online advertising and lead generation solutions on its branded online platforms such as CarWale, BikeWale, Cartrade etc. Three, inspection and valuation services for banks and other financial institutions, insurance companies and OEMs. The company has a strong balance sheet with net cash of around ₹650 crore as of March 31, 2021.

The IPO closes on August 11. Shares are expected to get listed on August 23. IPO application minimum lot is 9 shares, which involve amount of ₹14,562.

What brokers say about CarTrade issue * Anand Rathi – “CarTrade Tech Ltd has a unique business model with no listed peers in the market. Covid-19 has impacted its FY21 financials. At the upper end of the IPO price band, it is offered at 4.4x P/BV and 29.6x EV/Sales and 73.4x P/E if we exclude accounting adjustments for deferred tax and attribute it on equity, then the asking price is at a P/E of around 199.26x to its FY21 earnings with a market cap of Rs 7,416 crore which shows the issue is priced exorbitantly. However, considering the future prospect of the company and it is also placed at a sweet spot as the first mover advantage we assign “Subscribe” Rating to this IPO investors can invest in this company with medium to long term perspective.”

* ICICIdirect – “CTT offers a unique play on rising digitisation of new and pre-owned vehicle transaction value chain/ecosystem. Given the prevailing preference for digital platforms including the recent listings, we assign SUBSCRIBE rating to the issue for listing gains. Long term wealth generation at CTT will be a function of scalability, relevance and journey towards healthier return ratios.

[hummingzone]

Upcoming IPOs this week: Four companies set to list, check details here

Upcoming IPOs this week: Four companies set to list, check details here

As the IPO frenzy continues in August with four companies launching their IPOs (Initial Public Offerings) in the first week of the month, four more firms are ready to hit the markets with their initial share sales this week.  This makes the month of August the busiest in terms of IPOs following July. Aptus Housing Finance, CarTrade Tech, Chemplast Sanmar, and Nuvoco Vistas are the four companies…

[digitaltrand]

CarTrade Tech reports a 47% Y-O-Y Growth in Revenue PAT of Rs. 3.3 crore for Q1 FY23

CarTrade Tech reports a 47% Y-O-Y Growth in Revenue PAT of Rs. 3.3 crore for Q1 FY23

CarTrade Tech Limited, one of India’s largest online auto platforms, announced its unaudited financial results for the quarter ended June 30, 2022, today. The Company reported its quarterly revenue of Rs. 92.8 crore in Q1 FY23. Key Highlights Increase in revenue by 47% Y-O-Y as compared to Q1 FY22. Adjusted EBITDA for the quarter is at Rs. 17.7 crore resulting in a Y-O-Y growth of 108% Adjusted…

[questlation]

CarTrade Tech reports a 47% Y-O-Y Growth in Revenue & PAT of Rs. 3.3 crore for Q1 FY23

CarTrade Tech reports a 47% Y-O-Y Growth in Revenue & PAT of Rs. 3.3 crore for Q1 FY23

MUMBAI, India, July 29, 2022 /PRNewswire/ — CarTrade Tech Limited, one of India’s largest online auto platforms, announced its unaudited financial results for the quarter ended June 30, 2022, today. The Company reported its quarterly revenue of Rs. 92.8 crore in Q1 FY23. Key Highlights: Increase in revenue by 47% Y-O-Y as compared to Q1 FY22 Adjusted EBITDA for the quarter is at Rs. 17.7…