$CARTRADE

Fundamental: Revenue +19.8% YoY | PAT +54.5% YoY | 3Y PAT CAGR 294.9% | P/E 53.1x vs sector 67.8x (22% discount) | Upside 24.1% | Operating Margin 43.8% (+494 bps) | ROCE 11.4% | Rank #1/23 peers | Rating 9.10 Technical: Sharp recovery from ₹1,800 accumulation zone — broke above multiple resistance levels, strong trend reversal | Above 50/100/200-day MAs, short-term EMAs positively aligned | RSI 73 — strong, entering overbought | ADX ~55 — very powerful trend confirmed | MACD firmly positive — bullish crossover intact Moat: India's leading digital auto marketplace connecting buyers, dealers, and financiers across new and used vehicles — 43%+ operating margins reflect a high-quality, capital-light platform business with strong network effects and no meaningful domestic competitor at scale. View: Ranked #1 in segment with a 9.1 Finkhoz rating, perfect valuation and outlook scores, and a 3-year PAT CAGR of 295% — the trend reversal from deep accumulation lows with ADX at 55 (very powerful) signals institutional re-rating in progress; a high-quality digital platform compounder at a meaningful discount to peers.