Car Trade Tech block deal: Royal Bank of Scotland buys shares worth Rs 41 crore in this smallcap counter

The Royal Bank of Scotland as trustee of Jupiter India Fund bought 4,89,617 shares worth Rs 41 crore in CarTrade Tech on Monday via block deal. The buying price of Rs 829.06 apiece was at a discount of 3.4% to Friday’s closing price of Rs 856.90 on the BSE.

According to a CNBC-TV18 report, the company is said to have witnessed block deals where 71 lakh shares or 15.1% equity was offloaded. One of the sellers in the deal was CMDB II, a private equity fund run by JP Morgan Investment Management. The fund sold 3,60,411 shares at a price of Rs 830.27 apiece, taking the deal amount to Rs 30 crore.

Irage Broking Services LLP sold 2,37,325 shares at a price of Rs 830.15 per share and later bought 67,929 shares at a price of Rs 831.24 per share.

Meanwhile, Patronus Tradetech LLP sold 4,87,545 shares at Rs 831.09 per share and later bought 45,831 shares at Rs 831.31.

The smallcap counter ended the day at Rs 836.95 on the BSE, down by Rs 19.95 or 2.33% over the Friday closing. The stock’s returns over the last one year have been to the tune of 75% and nearly three times those of the Nifty. The multi-channel auto platform reported its highest ever revenue of Rs 161 crore for the quarter ended March 31, 2024, registering a 38% year-on-year growth. The profit after tax (PAT) for the reported quarter stood at Rs 24.97 crore, resulting in YoY growth of 43%. In Q4FY23, the company had reported a consolidated revenue of Rs 116 crore while the PAT was reported at Rs 17.49 crore.

For the full financial year the revenue stood at Rs 555.23 crore recording a 30% YoY jump while the net profit was at Rs 82.13 crore which was a 103% growth.

The adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter stood at Rs 49.11 crore resulting in growth of 23% over the corresponding period of the last financial year. Adjusted EBITDA for FY24 was at Rs 164.74 crores, resulting in a YoY growth of 32%.

The company claimed to have received the highest ever average monthly unique visitors for Q4FY24, at 7 crore and more than 92% of which was organic.

It is now present in 350+ physical Locations, including Shriram Automall, CarWale abSure and Signature Dealers and OLX India Franchisee.

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