Analysts/Institutional Investor Meet/Con. Call Updates

Date: November 04, 2026 To, To, Department of Corporate Services, Listing Department, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block Dalal Street Bandra Kurla Complex, Bandra East, Mumbai - 400001 Mumbai – 400051 Scrip Code: 543333 Scrip Symbol: CARTRADE ISIN: INE290S01011 Dear Sir(s)/ Madam(s), Ref: Regulation 30 read with Schedule III Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Sub: Transcript of the CarTrade Tech Limited Q2FY27 Earnings Conference Call held on October 28, 2026 With reference to our letter dated October 23, 2026 intimating about the Analyst / Investor Call with Analysts/Investors, please find enclosed herewith the transcript of CarTrade Tech Limited Q2FY27 Earnings Conference Call held on October 28, 2026. The above information will also be available on the website of the Company: www.cartradetech.com. This is for your information & record. Thanking You. For CarTrade Tech Limited Lalbahadur Pal Company Secretary and Compliance officer Mem. No. A40812 Enclose: a/a “CarTrade Tech Limited Q2 FY '27 Earnings Conference Call” October 28, 2026 MANAGEMENT: MR. VINAY SANGHI – CHAIRMAN AND MANAGING DIRECTOR, CARTRADE TECH LIMITED MS. ANEESHA BHANDARY – EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER, CARTRADE TECH LIMITED MR. VARUN SANGHI – CHIEF STRATEGY OFFICER, CARTRADE TECH LIMITED Page 1 of 20 CarTrade Tech Limited October 28, 2026 Moderator: Ladies and gentlemen, good day and welcome to CarTrade Tech Limited Q2 FY 2027 Earnings Conference Call. As a reminder, all participants' line will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing “*” then “0” on your touchtone telephone. Please note that this conference is being recorded. I now hand the conference over to Ms. Sayali Ambre from CarTrade Tech Limited. Thank you, and over to you, madam. Sayali Ambre: Thank you. Good afternoon, everyone. I welcome you all to the Q2 and Half Year ended September 2026 Earnings Conference Call for CarTrade Tech Limited. To discuss the Quarter's Financial and Business Performance, we have from the Management, Mr. Vinay Sanghi – Chairman and Managing Director, Ms. Aneesha Bhandary – Executive Director and Chief Financial Officer, and Mr. Varun Sanghi – Chief Strategy Officer. Before we proceed with the call, I would like to mention that some of the statements made in today's call may be forward-looking and may involve risks and uncertainties. For more details, kindly refer to the investor presentation and other filings that can be found on the company's website and on the Stock Exchanges. Without further ado, I would like to hand over the call to the Management for their opening remarks. Post then, we can open the floor for Q&A. Thank you, and over to you, sir. Vinay Sanghi: Thank you, Sayali, and good afternoon, everybody, and thank you for joining the Half-Yearly Earnings Call and the Q2 Earnings Call as well. I just want to jump straight to Slide #4 in your presentation decks. As you know, the company's margin expanded this quarter to 36%. The four-year growth story shows PAT growth of 60% CAGR over the four years. Revenue growth over the last four years is 24% CAGR. EBITDA is up 74%. When you look at the capital strength, the cash reserve has crossed INR 1,400 crores. Return on equity continues to be strong. As you know, the EPS is almost 7x in the last four years. If I go to the next slide and talk about the key metrics of the company. The company in this quarter, I am glad to inform you, has recorded its highest ever revenue in its history at INR 236 crores of total income. PBT is highest ever, again, in this quarter is at INR 85 crores. We continue to be India and also the world's leading automotive platform, also leading used classified platform and vehicle auction platform. Page 2 of 20 CarTrade Tech Limited October 28, 2026 We receive 76 million MAUs average for this quarter. Organic traffic has jumped to 96%, and we have 500 physical locations, 1.6 million vehicles. We are auctioning at the rate of 1.6 million vehicles a year. As I already said, revenue is highest at INR 236 crores. Adjusted EBITDA, which is a cash proxy, has crossed INR 106 crores for the quarter. PAT is at INR 66 crores and as I told you earlier, our cash balances are at INR 1,400 crores as of 30th September. If you look at the consolidated performances of the company, the revenue at INR 213 crores for the quarter is also its highest ever in its history. As you have seen, the revenue has also sequentially grown from the previous quarter, from Q-on-Q by INR 12 crores, which is up from INR 201 crores last quarter, INR 213 crores this quarter. There has been a sequential jump on growth of revenues. There is also annual jump of 10%. The half-yearly growth has been 13%. Other income is down. I think other income is down primarily due to the write-backs last year in the same quarter, we had approximately INR 10 crores of write-backs, there is a footnote below, and INR 14 crores in the year of write-backs at OLX of some written-back some expenses to income, and therefore, the other income is down from 19% in the 2nd Quarter and 5% annually down but as I said, total income is at the highest ever, INR 236 crores, and revenues is highest at INR 213 crores. Employee costs are stable at 8% growth over last year, which shows the leverage in the business. EBITDA is up by 20% over last year. EBITDA is also sequentially up 20%. If you see the EBITDA at INR 76 crores, is higher than the INR 63.59 crore the last year quarter and of course higher by 20% from previous quarter, INR 63 crores as well. EBITDA margins come out at 36%. As you know, your company is focused on building a best-in-class margin structure. You can see here, EBITDA margin has jumped from 33% last year quarter to 36% and 36% over 31% previous quarter same time. For half yearly, the EBITDA margins are 34% versus 29% last year for the half year results. EBITDA is also up 30% year-on-year over last year for the first six months. PBT, as I told you, is the highest in our history, 85.45, which is up over 79.92 last year quarter and 74.52 previous quarter. The 7% growth is also taking into account the lower other income, which is actually bringing down the growth rate only 7%, which is the other write-backs of OLX in the same quarter last year. PAT is up by 3% at INR 65.95 crores or INR 66 crores over INR 56.75 crores last quarter and INR 64 crores last year, is a 3% growth in PAT. Let me clarify here, it is driven by INR 10 crore writeback in the same quarter last year. Therefore, the growth is showing at only 3%. Let me also stress here that the tax impact on OLX, our income tax impact last year, we had tax shelters on OLX, and this year we paid tax on OLX. So, there is a base effect of last year, which is kicking into the PAT of this year. These are two or three reasons why the PAT is up only 3%. One is because of the OLX write backs last year and other income. Page 3 of 20 CarTrade Tech Limited October 28, 2026 Second is because of the tax impact at OLX this year versus last year, OLX had tax shelter. These are the reasons why the PAT is at 3%. Overall, the revenue is at its highest ever, and PBT is also at its highest ever in the history of the company. If you look at the consumer group, which is the next slide, revenue from operations are up 4%, EBITDA is up 5%, and margins have come to 41%, and PAT is up 13%. Of course, half yearly is up 10% on revenue and 16% on EBITDA. Part of the reason is, as you know, last year, there was GST reduction on 22nd September. There is also a base effect of the 2nd Quarter last year. If you look at the 2nd Quarter last year revenue, the growth was 37% in that quarter. If you really look at a two-year period, you [Showing first 8,000 characters — download PDF for full document]