Date: January 25, 2022

To, To,
Department of Corporate Services, Listing Department,
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, G Block,
Dalal Street, Mumbai - 400 001 Bandra Kurla Complex,
Bandra (E), Mumbai - 400 051

Scrip Code: 543333 Scrip Symbol: CARTRADE

ISIN: INE290S01011

Dear Sir/Madam,

Sub: Outcome of Board Meeting

Reference: Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 (‘LODR’)

Pursuant to the provisions of Regulation 30 and 33 of the Securities and Exchange Board
of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended, this is to inform you that the Board of Directors at its meeting held today i.e.
January 25, 2022 which was commenced at 9.40 am and concluded at 12.25 pm have
approved the Unaudited Standalone and Consolidated Financial Results for the third
quarter and nine months ended on December 31, 2021.

The results alongwith the copy of limited review report duly signed by the Auditors of
the Company together with a copy of the Press Release and Investors presentation, for
the third quarter and nine months ended on December 31, 2021 are enclosed.

The aforementioned documents shall also be available on the Company's website

https://www.cartradetech.com/

CarTrade Tech Limited (formerly known as MXC Solutions India Private Limited)
Reg. Off. & Corp. Off: 12th Floor Vishwaroop IT Park, Sector 30A, Vashi, Navi Mumbai 400705.
W: cartradetech.com | T: +91 22 6739 8888 | CIN: L74900MH2000PLC126237
 You are requested to kindly take the above information on your records.

Yours faithfully,

For CarTrade Tech Limited

Pal Lal Digitally signed

by Pal Lal
Bahadur Bahadur
Deepnarayan Deepnarayan
_____________________________________
Lalbahadur Pal
Company Secretary and Compliance officer
Mem. No. A40812

Enclosed: a/a

CarTrade Tech Limited (formerly known as MXC Solutions India Private Limited)
Reg. Off. & Corp. Off: 12th Floor Vishwaroop IT Park, Sector 30A, Vashi, Navi Mumbai 400705.
W: cartradetech.com | T: +91 22 6739 8888 | CIN: L74900MH2000PLC126237
Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated
Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended

Review Report to
The Board of Directors
CarTrade Tech Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of

CarTrade Tech Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its
subsidiaries together referred to as “the Group”) for the quarter ended December 31, 2021 and year to
date from April 01, 2021 to December 31, 2021 (the “Statement”) attached herewith, being submitted
by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).
2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance
with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS
34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as
amended, read with relevant rules issued thereunder and other accounting principles generally accepted
in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been
approved by the Holding Company’s Board of Directors . Our responsibility is to express a conclusion
on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the
Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan
and perform the review to obtain moderate assurance as to whether the Statement is free of material
misstatement. A review of interim financial information consists of making inquiries, primarily of
persons responsible for financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in accordance with Standards
on Auditing and consequently does not enable us to obtain assurance that we would become aware of all
significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated
March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the
Listing Regulations, to the extent applicable.
4. The Statement includes the results of the following entities:
a) CarTrade Tech Limited (holding company)
b) Shriram Automall India Limited (subsidiary company held directly)
c) CarTrade Finance Private Limited (subsidiary company held directly)
d) CarTradeExchange Solutions Private Limited (subsidiary company held indirectly)
e) Adroit Inspection Services Private Limited (subsidiary company held indirectly)
f) Augeo Asset Management Private Limited (subsidiary company held indirectly)
g) CarTrade Foundation (subsidiary company held directly)
5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on
the consideration of the review reports of other auditors referred to in paragraph 7 and 8 below, nothing
has come to our attention that causes us to believe that the accompanying Statement, prepared in
accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting
Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with
relevant rules issued thereunder and other accounting principles generally accepted in India, has not
disclosed the information required to be disclosed in terms of the Listing Regulations, including the
manner in which it is to be disclosed, or that it contains any material misstatement.
CarTrade Tech Limited
Consolidated Limited Review Report – December 2021
Page 2 of 2

6. Emphasis of Matter
We draw attention to Note 7 to the financial results, which describes the uncertainties and the impact of
COVID 19 on carrying value of Investments, Right of Use Assets and Goodwill upon achievement of
business plans, as assessed by the management. Our conclusion is not modified in respect of this matter.
7. The accompanying Statement includes the unaudited interim financial results and other financial
information in respect of one subsidiary, whose unaudited interim financial results reflect total revenues
of Rs. 16.98 lakhs and Rs. 54.60 lakhs, total net loss after tax of Rs. 26.41 lakhs and Rs. 111.46 lakhs
and total comprehensive loss of Rs. 25.41 lakhs and Rs. 110.69 lakhs for the quarter ended
December 31, 2021 and for the period ended on that date respectively as considered in the Statement
which is reviewed by their independent auditors.
The independent auditor’s reports on interim financial results of this entity have been furnished to us by
the Management and our conclusion on the Statement, in so far as it relates to the amounts and
disclosures in respect of these subsidiaries is based solely on the report of such auditors and procedures
performed by us as stated in paragraph 3 above.
8. The accompanying Statement includes unaudited interim financial results and other unaudited financial
information in respect of two subsidiaries, whose interim financial results and other financial information
reflect total revenues of Rs Nil and Rs Nil, total net profit/(loss) after tax of Rs. 2.10 lakhs and Rs. (8.76
lakhs), total comprehensive income/(loss) of Rs. 2.10 lakhs and Rs. (8.76 lakhs), for the quarter ended
December 31, 2021 and the period ended on that date respectively.
The unaudited interim financial results and other unaudited financial information of these subsidiaries
have not been reviewed by any auditors and have been approved and furnished to us by the Management
and our conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries is based
solely on such unaudited interim financial results and other unaudited financial information. According
to the information and explanations given to us by the Management, these interim financial results are
not material to the Group.
Our conclusion on the Statement in respect of matters stated in para 7and 8 above is not modified with
respect to our reliance on the work done and the reports of the other auditors and the financial results
certified by the Management.

9. The comparative financial information of the Group for the corresponding quarter ended
December 31, 2020 included in these unaudited consolidated financial results have been solely based on
the information compiled by the management but have not been subjected to audit or review.
For S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants
ICAI Firm registration number: 101049W/E300004

___________________________________
per Govind Ahuja
Partner
Membership No.: 048966
UDIN: 22048966AAAAAJ9065
Place: Mumbai
Date: January 25, 2022
 CarTrade Tech Limited (formerly known as "MXC Solutions India Private Limited ")
Corporate Identity Number: L74900MH2000PLC126237
Statement of Unaudited Consolidated Financial Results For The Quarter and Nine months Ended December 31, 2021
Registered & Corporate Office: 12th Floor Vishwaroop IT Park, Sector 30A, Vashi, Navi Mumbai 400705.
website: www.cartradetech.com, Email: investor@cartrade.com
(Rs. In Lakhs )
Quarter ended Nine months ended Year ended
Particulars
December 31, 2021 September 30, 2021 December 31, 2020 December 31, 2021 December 31, 2020 March 31, 2021
Unaudited Unaudited Unaudited Unaudited Audited Audited
(Refer note 2) (Refer note 2)
Income
Revenue from operations 8,877.59 7,756.75 7,737.31 21,958.24 16,757.17 24,968.32
Other income 1,354.43 1,051.95 896.84 3,348.87 2,203.34 3,184.04
Total revenue (A) 10,232.02 8,808.70 8,634.15 25,307.11 18,960.51 28,152.36

Expenses
Purchase of Stock-in-trade 297.32 208.41 22.62 565.54 22.62 281.31
Changes in Inventories of stock-in-trade (53.39) (2.68) (22.62) 1.07 (22.62) (155.85)
Employees benefit expense (Refer note 4) 8,318.08 8,322.86 3,325.14 24,774.45 9,185.55 13,010.99
Finance cost 174.56 161.80 106.11 469.17 308.36 429.78
Depreciation and amortization expense 627.48 653.52 508.88 1,828.03 1,482.62 1,992.73
Other expenses 3,109.57 2,524.77 2,016.07 7,439.48 5,230.57 7,895.53
Total expenses (B) 12,473.62 11,868.68 5,956.20 35,077.74 16,207.10 23,454.49

Profit / (loss) before tax (A-B) (2,241.60) (3,059.98) 2,677.95 (9,770.63) 2,753.41 4,697.87
Tax expenses
Current tax 333.09 258.81 464.37 591.90 636.13 977.46
Income tax adjustment related to earlier years - - (240.33) - (239.19) (232.76)
Deferred tax exepenses/ (credit) (725.91) 216.08 65.71 (366.60) (6,388.38) (6,387.31)
Total Tax expenses / (credit) (392.82) 474.89 289.75 225.30 (5,991.44) (5,642.61)

Profit / (loss) for the period / year (1,848.78) (3,534.87) 2,388.20 (9,995.93) 8,744.85 10,340.48

Other Comprehensive Income / (loss)

Items that will not be reclassified to profit or loss
Remeasurement of the defined benfit plan (0.60) 20.25 (1.04) (67.01) (0.67) 76.27
Income tax related to the above 0.30 (5.23) (1.82) 16.87 2.40 (19.19)
Total Other comprehensive Income / (loss) (0.30) 15.02 (2.86) (50.14) 1.73 57.08

Total comprehensive income / (loss) for the period / year (1,849.08) (3,519.85) 2,385.34 (10,046.07) 8,746.58 10,397.56

Profit / (loss) for the period / year attributable to

Equity holders of the parent (2,335.59) (3,767.24) 1,816.26 (10,642.81) 7,925.02 9,249.90
Non-controlling interest 486.81 232.37 571.94 646.88 819.83 1,090.58

Total Other comprehensive income / (loss) for the period / 0.00 - - - - -

year attributable to -0.00 - - - - -
Equity holders of the parent (1.79) 14.75 (0.94) (43.48) (0.81) 36.48
Non-controlling interest 1.49 0.27 (1.92) (6.66) 2.54 20.60

Total comprehensive income / (loss) for the period / year

attributable to
Equity holders of the parent (2,337.38) (3,752.49) 1,815.32 (10,686.29) 7,924.21 9,286.38
Non-controlling interest 488.30 232.64 570.02 640.22 822.37 1,111.18

4,652.51 4,583.41 353.43 4,652.51 353.43 358.43

Other equity (excluding revaluation reserves) 1,63,779.31
Earnings Per Equity Share (face value of Rs. 10/- each), not
annualised
Basic (in Rs.) (5.03) (8.22) 4.26 (23.23) 19.38 22.37
Diluted (in Rs.) (5.03) (8.22) 3.87 (23.23) 17.56 20.31
See accompanying notes to financial results
 CarTrade Tech Limited (formerly known as "MXC Solutions India Private Limited ")
Corporate Identity Number: L74900MH2000PLC126237
Registered & Corporate Office: 12th Floor Vishwaroop IT Park, Sector 30A, Vashi, Navi Mumbai 400705.
website: www.cartradetech.com, Email: investor@cartrade.com

Notes to the Unaudited Consolidated Financial Results

1 In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, as amended (the this Statement of unaudited
consolidated financial results for the quarter and nine months ended on December 31, 2021 Consolidated Financial of the Group has been reviewed by the
Audit Committee and approved by the Board of Directors at their meeting held on January 25, 2022 and have been subject to a limited review by the statutory auditors of the
Group (read with note 2 below).

2 The Group has completed its Initial Public Offering comprising an offer for sale by the selling shareholders. The equity shares of the Group were listed on BSE Limited
and National Stock Exchange of India on August 20, 2021. Accordingly, the Unaudited Consolidated Financial Results for the quarter and nine months ended
December 31, 2021 have been drawn up for the first time in accordance with the Listing Requirements. The unaudited consolidated financial results for the corresponding
quarter ended December 31, 2020 have not been subject to an audit or review by the statutory auditors of the Group.

3 The Unaudited Consolidated Financial Results of the Group have been prepared in accordance with the Indian Accounting Standards notified under Section 133 of the Companies

4 Employee benefit expenses includes non-cash share based payment expenses as per the provisions of Ind-AS 102 of Rs. 14,002.83 Lakhs for the nine
months ended December 31, 2021 and Rs. 4,668.03 lakhs for the quarter ended on that date. The above includes a cost of Rs.10,931.36 lakhs and Rs.3,657.04 lakhs for the nine
months and quarter ended December 31, 2021 pertaining to 1,500,000 options that were granted on March 31, 2021 which have a vesting period of 1 year (i.e. will be fully
vested by March 30, 2022).

5 During the quarter ended December 31, 2021, on exercise of options by employees and option holder, the Board of Directors approved the allotment of 6,91,000 equity shares
for which the Company received Rs. 937.90 lakhs towards the share application money. The Company also collected requisite tax on perquisites from the employees/option
holders and deposited the same with the tax authorities.

6 Based on internal reporting provided to the Chief Operating Decision Maker, the Group operates in a single reportable operating segment of managing a media platform for the
automotive sector. Hence there are no separate reportable segments as per Ind AS 108 - Operating Segments.

7 In view of the COVID-19 pandemic, the Group has re-assessed the judgements and estimates relating to the recoverability of financial assets including trade receivables and
unbilled revenues and Right to Use Asset and Goodwill. As at the December 31, 2021, the Group has evaluated the impact of COVID 19 on its consolidated financial results and
the impact of COVID 19 may differ from that estimated as at the date of approval of these financial statements.

For and on behalf of the board of directors of

CarTrade Tech Limited (formerly known as "MXC Solutions India Private Limited ")

Vinay Sanghi
Place: Mumbai Chairman, Managing Director and Chief Executive Officer
Date : January 25, 2022 DIN: 00309085
Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone
Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended
Review Report to
The Board of Directors
CarTrade Tech Limited
1. We have reviewed the accompanying statement of unaudited standalone financial results of
CarTrade Tech Limited (the “Company”) for the quarter ended December 31, 2021 and year to date from
April 01, 2021 to December 31, 2021 (the “Statement”) attached herewith, being submitted by the
Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended (the “Listing Regulations”).
2. The Company’s Management is responsible for the preparation of the Statement in accordance with the
recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34)
“Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended,
read with relevant rules issued thereunder and other accounting principles generally accepted in India and
in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the
Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on
our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the
Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and
perform the review to obtain moderate assurance as to whether the Statement is free of material
misstatement. A review of interim financial information consists of making inquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review procedures. A
review is substantially less in scope than an audit conducted in accordance with Standards on Auditing
and consequently does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that
the accompanying Statement, prepared in accordance with the recognition and measurement principles
laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the
Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting
principles generally accepted in India, has not disclosed the information required to be disclosed in terms
of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any
material misstatement.
5. The comparative financial information of the Company for the corresponding quarter ended December
31, 2020 included in these standalone financial results have been solely based on the information
complied by the management but not have been subject to audit or review.

For S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accountants
ICAI Firm registration number: 101049W/E300004

___________________________________
per Govind Ahuja
Partner
Membership No.: 048966
UDIN: 22048966AAAAAI9792
Place: Mumbai
Date: January 25, 2022
 CarTrade Tech Limited (formerly known as "MXC Solutions India Private Limited ")
Corporate Identity Number: L74900MH2000PLC126237
Statement of Standalone Unaudited Financial Results For The Quarter and Nine Months Ended December 31, 2021
Registered & Corporate Office: 12th Floor Vishwaroop IT Park, Sector 30A, Vashi, Navi Mumbai 400705.
website: www.cartradetech.com, Email: investor@cartrade.com
(All amounts in INR lakhs, unless otherwise stated)

Quarter ended Nine Months ended Year ended

December 31, 2021 September 30, 2021 December 31, 2020 December 31, 2021 December 31, 2020 March 31, 2021
Particulars
Unaudited Unaudited Unaudited Unaudited
Audited Audited
(Refer note 2) (Refer note 2) (Refer note 2) (Refer note 2)
Income
Revenue from operations 3,443.01 3,156.59 3,062.06 8,837.09 6,177.98 9,279.40
Other income 735.64 757.17 598.91 2,209.83 1,314.06 2,045.27
Total Income (A) 4,178.65 3,913.76 3,660.97 11,046.92 7,492.04 11,324.67

Expenses
Purchase of stock-in-trade 297.32 208.41 22.62 565.54 22.62 281.31
Changes in inventories of stock-in-trade (53.39) (2.68) (22.62) 1.07 (22.62) (155.85)
Employee Benefits Expense (refer note 4) 6,330.12 6,316.56 1,526.10 18,970.59 4,516.26 6,112.43
Finance Cost 24.42 19.64 4.07 53.24 19.64 27.78
Depreciation and amortisation expense 128.06 119.09 121.96 369.86 365.99 483.85
Other expenses 1,167.76 984.73 724.52 2,863.71 1,691.51 2,551.24

Total Expenses (B) 7,894.29 7,645.75 2,376.65 22,824.01 6,593.40 9,300.76

Profit / (loss) before tax (A-B) (3,715.64) (3,731.99) 1,284.32 (11,777.09) 898.64 2,023.91
Tax expense
Current Tax - - - - - 1.83
Deferred Tax Expenses /(Credit) (772.46) 326.40 159.19 (338.50) (6,021.14) (5,918.68)
Total Tax Expense / (Credit) (772.46) 326.40 159.19 (338.50) (6,021.14) (5,916.85)

Profit / (loss) for the period / year (2,943.18) (4,058.39) 1,125.13 (11,438.59) 6,919.78 7,940.76

Other Comprehensive Income / (Loss)

Items that will not be reclassified to profit or loss
Remeasurements of the defined benefit plans (net of tax) (4.87) 19.24 3.26 (47.04) (3.97) 14.51
Income Tax related to the above 1.22 (4.84) (1.82) 11.84 - (3.65)
Total Other Comprehensive income /(loss) for the year/period (3.65) 14.40 1.44 (35.20) (3.97) 10.86

Total comprehensive Income/(loss) for the year/period (2,946.83) (4,043.99) 1,126.57 (11,473.78) 6,915.81 7,951.61
(2,946.82) (4,043.98) 1,126.58 (11,473.79) 6,915.82 7,951.59
(0.01) (0.01) (0.01) 0.01 (0.01) 0.02
Paid up Equity Share Capital (Face Value of Rs.10/- per share) 4,652.51 4,583.41 353.43 4,652.51 353.43 358.43
Other Equity (excluding revaluation reserve) 1,60,780.35

Earnings per equity share (face value of Rs. 10/- each) (not annualised ) (0.01)
Basic (In Rs.) (6.34) (8.85) 2.64 (24.96) 16.92 19.21
Diluted (In Rs.) (6.34) (8.85) 2.40 (24.96) 15.33 17.44

See accompanying notes to financial results

 CarTrade Tech Limited (formerly known as "MXC Solutions India Private Limited ")
Corporate Identity Number: L74900MH2000PLC126237
Registered & Corporate Office: 12th Floor Vishwaroop IT Park, Sector 30A, Vashi, Navi Mumbai 400705.
website: www.cartradetech.com, Email: investor@cartrade.com

Notes to the Unaudited financial results

1 In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, as amended (the this Statement of unaudited
financial results for the quarter and Nine months ended on December 31, 2021 Financial of the Company has been reviewed by the Audit
Committee and approved by the Board of Directors at their meeting held on January 25, 2022 and have been subject to a limited review by the statutory auditors of the
Company (read with note 2 below).

2 The Company has completed its Initial Public Offering comprising an offer for sale by the selling shareholders. The equity shares of the Company were listed on
BSE Limited and National Stock Exchange of India on August 20, 2021. Accordingly, the Unaudited Consolidated Financial Results for the quarter and nine
months ended December 31, 2021 have been drawn up for the first time in accordance with the Listing Requirements. The unaudited consolidated financial results for
the corresponding quarter ended December 31, 2020 have not been subject to an audit or review by the statutory auditors of the Company.

3 The Unaudited Financial Results of the Company have been prepared in accordance with the Indian Accounting Standards notified under Section 133 of the Companies
Act, 2013, as amended, read with Companies (Indian Accounting Standards) amendment rules, 2016 and in terms of Regulation 33 of the Listing
Requirements.

4
nine months ended December 31, 2021 and Rs. 4,635.83 lakhs for the quarter ended on that date. The above includes a cost of Rs.10,931.36 lakhs and Rs.3,657.04 lakhs
for the nine months and quarter ended December 31, 2021 pertaining to 1,500,000 options that were granted on March 31, 2021 which have a vesting period of 1 year
(i.e. will be fully vested by March 30, 2022).

5 During the quarter ended December 31, 2021, on exercise of options by employees and option holder, the Board of Directors approved the allotment of 6,91,000 equity
shares for which the Company received Rs. 937.90 lakhs towards the share application money. The Company also collected requisite tax on perquisites from the
employees/option holders and deposited the same .

6 Based on internal reporting provided to the Chief Operating Decision Maker, the Company operates in a single reportable operating segment of managing a media
platform for the automotive sector. Hence there are no separate reportable segments as per Ind AS 108 - Operating Segments.

For and on behalf of the board of directors of

CarTrade Tech Limited (formerly known as "MXC Solutions India Private Limited ")

Vinay Sanghi
Place: Mumbai Chairman, Managing Director and Chief Executive Officer
Date : 25-01-2022 DIN: 00309085
 CarTrade Tech sees a 33% Growth in Revenue YOY
Key Highlights:

 Highest ever quarterly revenue at Rs 102 crores in Q3-FY22

 Revenue for nine month period ending Dec 21 up by 33% over Dec20.
 Adjusted EBITDA for the quarter is at Rs 32 crores, with an Adjusted EBITDA margin % of
32%
 Adjusted EBITDA for nine month period ending Dec 21 up by 30% over Dec20

Consolidated Results
(Amount in Rs lakhs)

Quarter
Nine months ended
Ended Growth
Particulars December
December
Q3 (FY22) FY 22 FY 21 Y-O-Y
Revenue 10,232.02 25,307.11 18,960.51 33%
Adjusted EBITDA 3,228.47 6,529.40 5,017.80 30%
Adjusted EBITDA Margin % 32% 26% 26%

Mumbai, January 25th, 2022: CarTrade Tech Limited, one of India’s largest online auto platforms today
declared its standalone and consolidated financial results for the quarter and nine month period
ending December 31, 2021.

Consolidated results

Total Revenue for the nine month period ended December 31, 2021 stood at Rs. 253.07 crores,
showing a growth of 33%, as compared to Rs. 189.60 crores in the same period last year. Adjusted
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in nine month period ended
December 31, 2021 stood at Rs. 65.29 crores, showing a growth of 30% as compared to Rs 50.17 crores
in the corresponding period. Adjusted EBITDA margin % stood at 26% for nine month period ended
December 31, 2021.

Total Revenue for Q3 FY22 stood at Rs. 102 crores, as compared to Rs. 86 crores in the same period
last year. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3 FY22
stood at Rs. 32 crores and adjusted EBITDA margin % for Q3 FY22 was 32%.

An exceptional and non-recurring, non-cash adjustment of Rs. 140 crores for Employee stock options
granted in FY21 has been accounted for, resulting in a Net loss after tax for nine month period ended
December 31, 2021 of Rs. 100 crores (Net loss before tax of Rs. 97 crores) as compared to a net
profit after tax of Rs. 87 crores (Net profit before tax of Rs 27 crores) for nine month period ended
December 31, 2020.

Operational Highlights (Q3 FY22)

CarTrade Tech received 31 mn average monthly unique visitors for Q3FY22, of which 86.20% was
organic.

The number of listings for auction were 326,319 for Q3FY22. This was a growth of over 53 % over
Q3FY21.

The volumes sold via auction were 72,639 for Q3FY22. This was a growth of over 60 % over Q3FY21.

CarWale abSure will deliver a world class online offline shopping experience for used car buyers and
sellers. As on December 31st, 2021, there are 22 CarWale abSure outlets present in 18 cities.

Commenting on the performance of the company Mr. Vinay Sanghi, Founder and Chairman - CarTrade
Tech said, “I am happy to inform our shareholders that our Q3FY22 total revenue stood at Rs 102
crores which is our highest ever for a quarter. Our revenue has grown by 33% compared to the nine
month period ended December 31, 2020 and in terms of adjusted EBITDA we have grown by 30%. We
had our highest ever auction listing in this quarter at 326,319, which helped cross the 1.3 million
auction listing mark based on the Q3FY22 annualised numbers and we got 31 million average monthly
unique visitors this quarter. We are continuing to digitalize the buying and selling journey for the
consumer and our CarWale abSure offering is a step in this direction. We have 22 CarWale abSure
outlets across 18 cities and we plan to have 200 outlets across the country in the next 2 years.”

About CarTrade Tech Limited: (www.cartradetech.com; NSE: CARTRADE; BSE: 543333)

CarTrade Tech Ltd. is a multi-channel auto platform with presence across vehicle types and
value-added services. The platform gets 31 million average monthly unique visitors (Q3FY22)
and based on Q3FY22 annualized numbers has 1.3 mn listings for auction. The platform
operates under several brands: 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.

For More Information, Please Contact:

E: investor@cartrade.com I T: +91 22 6739 8888

 Investor Presentation
For the quarter and nine months ended December 2021
1
 Car Sales Overview
COVID and its Impact Semiconductor Shortage

o Wave 2 of Covid lockdowns started in April 21 and got relaxed in o The global semiconductor shortage began in Q1 of FY21,
June / July 21. and has resulted in assembly lines around the world being
o Dealerships were impacted due to the lockdowns and were impacted.
largely closed during the lockdowns.
o COVID has helped the Indian automotive industry fast track its o Forced by semiconductor shortages and other supply side
initiatives of digitalization. constraints, the domestic auto sector is likely to continue to
face supply chain headwinds over the remainder of FY22.

PV Sales FY22 (in '000) PV Sales Q3 Vs Q3 (in '000)

300 264
262
250 232 232 226 219
216 897.91
200
-15%
150
160
761.12
100

50 88

0
Apr May Jun Jul Aug Sep Oct Nov Dec Q3, FY21 Q3, FY22

Source: SIAM
2 Note: In Monthly PV sales BMW, Mercedes, Tata Motors & Volvo Auto data is not available, where as in quarterly PV sales BMW, Mercedes & Volvo Auto data are not available
 Revenue growth 33% & Adj. EBITDA growth 30%*

#1 Only Profitable Player Vehicle Agnostic Platform

Car and Two-Wheeler
Among Key Competitors in FY21 Online and Offline Presence
Auto Portal in India(1)

31 mn 86.20% 1.3 mn*

Average Monthly Unique Visitors in Q3 Organic Unique Visitors in Q3 *Annualized Q3
Vehicles Listed for Auction

INR 4092 mn* INR 1291 mn* 32%

*Annualized Q3 Revenue – INR1023 mn
*Annualized Q3 Adj. EBITDA – INR 323 mn Adjusted EBITDA Margin for
[Highest ever Quarter revenue]
Q3

Note: Q3 refers to Q3-FY22

3 (1) Based on relative online search popularity on Google Trends when compared to our key competitors over the period from April 2020 to December 2021.
 Adjusted EBITDA margin at 32% in Q3
Consolidated Financial results – FY 2021-22 – Quarter and nine months period ended December 2021 Amount in Rs lakhs

Quarter ended Nine months ended Growth

Particulars
December 31, 2021 September 30, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Y-O-Y
Revenue 8,877.59 7,756.75 7,737.31 21,958.24 16,757.17 31%
Other income 1,354.43 1,051.95 896.84 3,348.87 2,203.34 52%
Total Revenue 10,232.02 8,808.70 8,634.15 25,307.11 18,960.51 33%
Operating Expenses 7,003.55 6,362.53 5,234.41 18,777.71 13,942.71 35%
Adjusted EBITDA 3,228.47 2,446.17 3,399.74 6,529.40 5,017.80 30%
Adjusted EBITDA Margin % 32% 28% 39% 26% 26%

ESOP 4,668.03 4,690.83 106.80 14,002.83 473.41 2858%

EBITDA (1,439.56) (2,244.66) 3,292.94 (7,473.43) 4,544.39 -264%

Finance cost & Depreciation 802.04 815.32 614.99 2,297.20 1,790.98 28%
Profit / (loss) before tax (PBT) (2,241.60) (3,059.98) 2,677.95 (9,770.63) 2,753.41 -455%

Tax Expenses (392.82) 474.89 289.75 225.30 (5,991.44) 104%

Profit / (loss) after tax (PAT) (1,848.78) (3,534.87) 2,388.20 (9,995.93) 8,744.85 -214%
Note: ESOP : There is an exceptional and non-recurring, non-cash adjustment of Rs. 140 crores for ESOP granted in FY21. Since, 1,500,000 shares of the above shares vest in a year (as
against vesting of 4 years, for other options granted over the years), the non-cash adjustment to P&L for the period ended December 2021 is 140 crores which shall impact FY 22 only.

4
 Revenue growth of 47% Y-o-Y
Standalone Financial results – FY 2021-22 – Quarter and nine months period ended December 2021 Amount in Rs lakhs

Quarter ended Nine month ended Y-O-Y

Particulars
December 31, 2021 September 30, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Growth
Income
Revenue from operations 3,443.01 3,156.59 3,062.05 8,837.09 6,177.97 43%
Other income 735.64 757.17 598.91 2,209.83 1,314.06 68%
Total revenue (A) 4,178.65 3,913.76 3,660.97 11,046.92 7,492.04 47%
Expenses
Purchase of Stock-in-trade 297.32 208.41 22.62 565.54 22.62
Changes in Inventories of stock-in-trade (53.39) (2.68) (22.62) 1.07 (22.62)
Employees benefit expense (Refer note 3) 1,694.29 1,649.93 1,456.79 5,043.35 4,155.45 21%
Other expenses 1,167.76 984.73 724.52 2,863.71 1,691.51 69%
Total Expenses 3,105.98 2,840.39 2,181.30 8,473.66 5,846.96 45%
Adjusted EBITDA 1,072.67 1,073.37 1,479.67 2,573.25 1,645.08 56%
Adjusted EBITDA margin % 26% 27% 40% 23% 22%
ESOP 4,635.83 4,666.63 69.31 13,927.25 360.81 3760%
Finance cost 24.42 19.64 4.07 53.24 19.64 171%
Depreciation and amortization expense 128.06 119.09 121.96 369.86 365.99 1%
Profit / (loss) before tax (A-B) (3,715.64) (3,731.99) 1,284.33 (11,777.09) 898.64 -1411%
Total Tax expenses / (credit) (772.46) 326.40 159.19 (338.50) (6,021.14) -94%
Profit / (loss) for the period / year (2,943.19) (4,058.39) 1,125.14 (11,438.58) 6,919.78 -265%

Note: ESOP : There is an exceptional and non-recurring, non-cash adjustment of Rs. 140 crores for ESOP granted in FY21. Since, 1,500,000 shares of the above shares vest in a year (as
against vesting of 4 years, for other options granted over the years), the non-cash adjustment to P&L for the period ended December 2021 is 140 crores which shall impact FY 22 only.

5
 Remarketing Results – revenue growth of 24% Y-o-Y
Financial results – FY 2021-22 – Quarter and nine months period ended December 2021 Amount in Rs lakhs

Quarter ended Nine month ended Y-O-Y

Particulars
December 31, 2021 September 30, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Growth
Income
Revenue from operations 5,492.08 4,688.11 4,749.95 13,343.45 10,800.08 24%
Other income 616.62 292.63 296.70 1,132.61 882.16 28%
Total revenue (A) 6,108.70 4,980.74 5,046.65 14,476.06 11,682.24 24%
Expenses
Employees benefit expense (Refer note 3) 1,930.26 1,953.69 1,712.23 5,633.31 4,453.77 26%
Other expenses 2,024.76 1,656.40 1,394.16 4,877.85 3,841.39 27%
Total Expenses 3,955.02 3,610.09 3,106.39 10,511.16 8,295.16 27%
Adjusted EBITDA 2,153.68 1,370.65 1,940.26 3,964.90 3,387.08 17%
Adjusted EBITDA margin % 35% 28% 38% 27% 29%
ESOP 32.20 24.20 37.49 75.58 112.60 -33%
Finance cost 150.15 142.16 102.04 415.93 288.72 44%
Depreciation and amortization expense 339.35 374.33 226.82 979.62 638.05 54%
Total expenses (B) 4,476.72 4,150.78 3,472.74 11,982.29 9,334.53 28%
Profit / (loss) before tax (A-B) 1,631.97 829.95 1,573.90 2,493.76 2,347.70 6%
Tax expenses
Current tax 333.09 258.81 464.37 591.90 636.13 -7%
Income tax adjustment related to earlier years - - (240.33) - (239.19) -100%
Deferred tax exepenses/ (credit) 86.31 (70.55) (53.28) 90.76 (247.95) -137%
Total Tax expenses / (credit) 419.40 188.26 170.76 682.66 148.99 358%
Profit / (loss) for the period / year 1,212.58 641.70 1,403.15 1,811.11 2,198.72 -18%

6
Revenue & Adjusted EBITDA Growth
Amount Rs in lakhs

Revenue growth Nine Months Revenue Growth Q3 vs Q2 Revenue Growth Q3 vs Q3

FY22 vs Nine Months FY21
30,000 11,000 11,000

33% 16% 19%

10,000 10,000
25,000

9,000 9,000
20,000
8,000 8,000
15,000 25,307 10,232 10,232
7,000 8,809 7,000
18,961 8,634
10,000
6,000 6,000

5,000 5,000 5,000

Revenue Revenue Revenue
Dec20 (FY21) Dec21 (FY22) Q2 (FY22) Q3 (FY22) Q3 (FY21) Q3 (FY22)

Adjusted EBITDA Nine Months Adjusted EBITDA Q3 vs Q2 Adjusted EBITDA Q3 vs Q3

FY22 vs Nine Months FY21
7,000 3,500 4,000 -5%
30% 32%
6,000 3,000 3,500

3,000
5,000 2,500
2,500
4,000 2,000
2,000
6,529 1,500 3,228
3,000 3,400 3,228
5,018 1,500
2,446
2,000 1,000
1,000
1,000 500 500

0 0 0

Adjusted EBITDA Adjusted EBITDA Adjusted EBITDA

Dec20 (FY21) Dec21 (FY22) Q2 (FY22) Q3 (FY22) Q3 (FY21) Q3 (FY22)

7
 Avg. Monthly UV’s at 31 mn, 86.20 % organic In Millions

UV's Growth Q3 vs Q2
Avg Monthly Unique Visitors per Quarter
40
Total UV`s ( In mn) Organic UV’s ( In mn) % Organic UV’s
35 -9%
40.0 88.9% 87.0% 87.0% 88.1% 86.7% -9%
86.2%
30

34.0 25
35.0
32.0 34.0
31.0 20 31.0 30.2
27.5
30.0
15
30.0
27.1
10
25.3
UV's UV's Organic
25.0 Q2 (FY22) Q3 (FY22)

UV's Growth Q3 vs Q3
20.0
32
3%
31
15.0
29.3 30.2
27.3 27.5 30
24.8
23.0 29
10.0 1%
28 31.0
30.0
27
5.0 27.3 27.5
26

25

0.0 UV's UV's Organic

Q2 (FY 21) Q3 (FY 21) Q4 (FY 21) Q1 (FY 22) Q2 (FY 22) Q3 (FY 22) Q3 (FY21) Q3 (FY22)

Note - We define a monthly unique visitor as an individual who has visited our websites or apps (CarWale, CarTrade and BikeWale) within a calendar month, based on data as measured by Google Analytics and Firebase. If an
individual accesses more than one of our websites and apps within a given month, the first access to each website or app by each such individual is counted as a unique visitor. Percentage of Organic Unique Visitors = Average
8 monthly unique organic visitors as a percentage of the sum of average monthly unique organic visitors and average monthly unique visitors from paid sources. If a visitor has visited through both organic and paid sources, then
such visitor will get counted as unique under both categories.
 Leadership on Relative Online Search Popularity

Google Trends - Relative Search Interest(1) Google Trends - Relative Search Interest(2)
(April 2020 – Dec 2021) (April 2020 – Dec 2021)

Google Trends Google Trends

100 93 80 75
89
90 66
70 61
80 70
67 60
70 63 49 49
58 55 45
60 68 50 41
43 46 36
50 49 40 35 34
40 31 34 26
30 29 30 22
26 23
30 21 16 18
18 20 15 20
20 9 9 11
8 4 6 6 3
10 2 3 3 7 10
2
2 1 4 1 1 1 1 1
0 0
Apr-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Apr-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

CarWale Cars24 CarDekho Droom Spinny BikeWale BikeDekho

 Highest index score among  Organic traffic comprising  Brands synonymous with
competitors 86.20% of all traffic(3) trust, quality and reliability

Note: Numbers represent search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term. A value of 50 means that the term is half as
popular. A score of 0 means there was no enough data for this term.(1) In “Autos and Vehicles” category in India. “Search Term” has been selected for all the selected players (CarWale, CarDekho, Cars24,
Droom, and Spinny.). (2) In “Autos and Vehicles” category in India. “Search Term” has been selected for all the selected players (BikeWale and BikeDekho). (3) For Q3 FY22
9
 Auction Listings reaches 1.3 mn* annual run rate
Auction Listing & Volume Auction Listing Q3 vs Q2 Auction Listing Q3 vs Q3
3,50,000 3,50,000 3,50,000
9% 53%
3,26,319
3,00,000 3,00,000
3,00,671
3,00,000
2,50,000 2,50,000

2,58,504 2,00,000 3,26,319 2,00,000 3,26,319

3,00,671
2,50,000
1,50,000 1,50,000
2,13,090
2,13,090 2,12,552
1,00,000 1,00,000
2,00,000 Listing Listing
1,73,809 Q2 (FY22) Q3 (FY22) Q3 (FY21) Q3 (FY22)
1,68,913

1,50,000 Auction Volume Q3 vs Q2 Auction Volume Q3 vs Q3

80,000 80,000
14% 60%
70,000 70,000
1,00,000
72,639 60,000 60,000
62,994 63,533
50,000 50,000
45,370
50,000
31,131 40,000 72,639 40,000 72,639
30,133 63,533
17,194 30,000 30,000
45,370
20,000 20,000
0
Q1 (FY 21) Q2 (FY 21) Q3 (FY 21) Q4 (FY 21) Q1 (FY 22) Q2 (FY 22) Q3 (FY 22) 10,000 10,000
Volume ( Sold Nos ) Volume ( Sold Nos )
Auction Listing Auction Volume ( Sold Nos.)
Q2 (FY22) Q3 (FY22) Q3 (FY21) Q3 (FY22)

10 * Based on Annualised Q3 FY22 numbers

 Quarterly Update

11
 Building an Automotive Platform

Consumer CarTrade Software

Remarketing Franchising Others
Group Finance Services

Retail Auctions CarWale Auto Finance Domestic

Two-Wheelers Electric Vehicles
abSure Platform Market

Business Ownership /
New Cars International
Auctions Rideshare
Market

Connected
Used Cars Trade In
Vehicles

Inspections Emerging
Services
Trends

Addressing a Total Revenue Opportunity of $14 bn

12
Committed to Fuel the Auto Ecosystem….
To deploy up to USD 100 mn (INR 750 crores) for strategic acquisitions and investments in the automotive
ecosystem

Publication: The Economic Times

13 Edition: Mumbai
Date: 17th December, 2021
 Digitalizing the Buying and Selling Journey

Product Discovery
Compare Virtual Tour Image & Video Gallery Highlights & Key
Shop Features

EDUCATION
Digital Video Demo User & Expert Reviews Expert Car Accessories List
Brochure Assistance Configurator

PURCHASE
Offer Builder Instant Loan Approval Car Valuation & Finance Options Test Drive On Road Price
Exchange Scheduler

POST-PURCHASE
Warranty & Service eBooking / Full Dedicated Concierge Digital Locker Service Alerts Service Scheduler
Packages Payment / Leasing

Product Advocacy
Buy-back / Upgrade Loyalty Program Road-side Assistance Service Cost
Calculator

14
CarTrade Tech – Digitalizing the Auto Ecosystem
MG Reassure DMS Auto Finance on MG
 A cloud based ERP for MG Dealers to manage their used car • MG customers receive customized loan offers and eligibility across
business multiple financiers
– From procurement to refurbishment to sales • Customers can apply for a loan online with their preferred financier
– Dashboards and MIS for dealer and OEM
• Depending on financier readiness, parts of or the entire loan process
– Can connect to ecosystem (classifieds, finance, warranty etc) can be done online
– Will integrate to auction systems for powering exchange

15
 CarWale abSure – Online Used Car Shopping Experience

Find the car Certification Report Peace of Mind Book it

16
 CarWale abSure – Complete Peace Of Mind

Already serving 18 cities with 22 outlets ….

Geared to scale to 200 outlets in the next two years….

17
Auction business tie-up with leading OEMs

Partnership with..

&

The Hindu Business Line

Edition: New Delhi
Portal ET Auto
18 Date: 28th Dec,
Date 29th Nov 2021
2021
CarTrade Tech Limited
12th Floor, Vishwaroop IT Park,
S Pranavanandji Marg, Sector 30A,
Vashi, Navi Mumbai,
Maharashtra 400705,
India.
www.cartradetech.com
investor@cartrade.com
Phone : 022-67398888 Thank You
19