KOTAK SECURITIES ON CARTRADE TECH ; ADD | TP ₹2,650 (EARLIER ₹2,700)

• Target Cut: Kotak Securities cuts target price to ₹2,650 from ₹2,700, maintaining Add rating. • Q2 Revenue: UP 10% YoY but misses estimates due to weakness in core classifieds business. • OLX Revenue: UP 26% YoY, supported by improving monetisation. • Operating Margins: Strong margin expansion despite slower revenue growth. • Core Business: Weak classifieds performance weighs on overall growth. • Earnings Outlook: Cuts FY27–FY29 revenue estimates by 4–8%. • Impact: Mixed 🟡

CARTRADE TECH LIMITED

← Back to feed