Results · Commerce & Consumer Brands

Cars24 reports H1 FY26 results, narrows losses

By Startup Enthusiast · 15 January 2026

What they do

Cars24 is an online marketplace for buying and selling used cars

It reported H1 FY26 adjusted net revenue of Rs 651 crore, up 18% YoY, and narrowed EBITDA loss by 36%

The company targets an IPO in India within 6-12 months and expects H2 revenue over Rs 750 crore

Cars24 released its H1 FY26 performance update on 15 January 2026.
Adjusted net revenue was Rs 651 crore, up 18% year-on-year.
Adjusted EBITDA loss narrowed 36% to Rs 162 crore.
Operating expenses were broadly flat at Rs 719 crore.
Vehicle transaction GMV fell 5% to Rs 3,731 crore.
Retail GMV grew 21% to Rs 2,009 crore, now over 50% of total transaction GMV.
The company facilitated nearly 85,000 car transactions across India, UAE, and Australia.
Loan disbursements rose 38% to Rs 1,637 crore.

Cars24 shifted from wholesale to retail transactions to prioritise profitability.
The company targets an IPO in India within the next 6-12 months.
It expects adjusted net revenue of over Rs 750 crore in H2 FY26, about 35% YoY growth.
The UAE business turned adjusted EBITDA profitable at Rs 9 crore in H1 FY26.

Cars24 is an online marketplace for buying and selling used cars.
It operates in India, the UAE, and Australia.
The company has expanded into vehicle ownership services: insurance, challan payments, pre-delivery inspections, vehicle history reports (CarTruth), buyback, and chauffeur services (Chauferly).
It uses GenAI automation for pricing, inspections, document verification, and customer calls.
Inspection time has been reduced nearly 30% via AI automation.
In January 2026, Cars24 acquired Delhi-based CarInfo to deepen data capabilities.
Retail margins stood at 19.3% in H1 FY26; UAE retail margins were around 24%.
Vehicle ownership services GMV grew about 19 times year-on-year to Rs 94 crore.

Targets an IPO in India within the next 6-12 months.
Expects adjusted net revenue over Rs 750 crore in H2 FY26, about 35% YoY growth.
On track to cross 1.8 lakh car transactions in FY26.

Product: An online platform for used-car buying, selling, and related lending services.
Customers: Consumers and dealers transacting in used cars.
How it makes money: It earns from vehicle sales, marketplace transactions, and financing-related services.
What sets it apart: Uses AI to improve operating efficiency and support growth.
Operations: Operates across multiple countries and runs auction and retail businesses in India.