Fundamental

Car Trade Tech IPO


Tech Ltd is a multi channel auto platform provider company.The company operates various brands such as CarWale, CarTrade, Shriram Automall BikeWale, CarTradeExchange Adroit Auto, and AutoBiz. The platform connects new and used automobile customers, vehicle dealers, vehicle OEMs, and other businesses to buy and sell different types of vehicles. The company offers a variety of solutions across automotive transactions for buying, selling, marketing, financing, and other activities.




Valuation and View

At the upper price band of INR 1,618 the stock is trading at PE 180 x to its FY 21 adjusted EPS of INR 9 Therefore, the valuations of the company seem to be stretched. The Company does not have any listed peers. We like the company because of 1) Company’s brands, CarWale, CarTrade, Shriram Automall BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz are trusted brands for automotive buyers and seller. 2) Business through the Digital Ecosystem, Online-Offline Presence and Vehicle-Agnostic Approach. 3) Supplement Organic Growth with Selective Acquisitions. 4) Well Positioned to Benefit from Growth of the Automotive Sector and Digitalization. 5) Profitable and Scalable Business Model.

We recommend investors subscribe for listing gains Long term investors are recommended to buy the stock on dips post listing

Tags: IPOFundamental


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