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Results · Commerce & Consumer Brands

Cars24 narrows FY26 EBITDA loss as revenue grows 27%

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Cars24 logo
Date
Company
Cars24
What it does
Used-car sales and financing platform
Kind
Results
Amount
Rs 1,411 crore
Stage
IPO-bound
Based in
Gurugram
Founded
2015
Sector
Commerce & Consumer Brands

What they do

The digital marketplace facilitates pre-owned vehicle transactions, vehicle financing solutions, and ownership management across international markets

What happened

During the 2026 fiscal year, adjusted net revenue climbed by twenty-seven percent compared to the prior year, reaching Rs 1,411 crore

Why it matters

This performance update precedes the firm's planned relocation of its legal headquarters to India in preparation for a public stock offering

The details

  • Pre-owned vehicle exchange Cars24 posted a 27% annual increase in adjusted net revenue, totaling Rs 1,411 crore for the 2026 fiscal year.

The bigger picture

  • This financial disclosure coincides with preparations by the automotive technology enterprise to transfer its official domicile from Singapore to India ahead of an initial public offering.

About the business

  • Cars24 maintains a digital platform facilitating the acquisition and disposal of second-hand automobiles throughout India, the United Arab Emirates, and Australia.

What happens next

  • The organization intends to transition its corporate registration from Singapore to India over a span of three to four months.

The deal

Type
results

Investors

  • SoftBank (participated) — Global technology investor
  • Alpha Wave Global (participated) — Investment firm backing technology companies
  • Peak XV Partners (participated) — Venture capital firm investing in startups

Founders

  • Vikram Chopra, Founder and CEO
  • Gajendra Jangid, Co-founder and former CMO
  • Mehul Agrawal, Co-founder and former COO
  • Ruchit Agarwal, Co-founder and Group CFO

About Cars24

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.

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