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Cars24 claims first adjusted EBITDA profit in Q4 FY26 as IPO plans heat up

Cars24 claims first adjusted EBITDA profit in Q4 FY26 as IPO plans heat up

Cars24, the IPO-bound used-car marketplace, says it became profitable for the first time in Q4 FY26 with ₹20 crore adjusted EBITDA. The company also claims “structurally positive” margins in the UAE and operating profitability in Australia, attributing gains to AI-led efficiencies, lower acquisition costs, and lending momentum. Full FY26 EBITDA loss narrowed, while transaction volumes shifted toward vehicle ownership services.

Summarised by Beize from a story on Inc42 on 8 May 2026
Cars24 trims losses as revenue surges 27% in FY26 driven by AI cost cuts

Cars24 trims losses as revenue surges 27% in FY26 driven by AI cost cuts

Cars24’s FY26 numbers show a strong turnaround: revenue rose 27% to Rs 1,411 crore and operating losses narrowed by 36%. The company reported EBITDA positivity in January, attributing the shift to AI adoption that reduced marketing and tech costs. Loan disbursals also climbed 57%, adding momentum to its growth story.

Summarised by Beize from a story on The Economic Times on 7 May 2026

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Ctruh raises 2.5 million and Cars24 COO exits as IndiaMART profit plunges

Ctruh raises 2.5 million and Cars24 COO exits as IndiaMART profit plunges

April 30, 2026 saw a burst of funding across India’s startup scene, from Ctruh’s $2.5M seed round for browser-based XR tools to Oolka’s $14M Series A for AI credit management. Kissht pulled in ₹278 crore from anchor investors ahead of its IPO. Meanwhile, Cars24’s COO Mehul Agrawal stepped down and IndiaMART’s Q4 profit fell 72%.

Summarised by Beize from a story on Startup Talky on 1 May 2026
Cars24 cofounder Mehul Agarwal quits operating role as IPO countdown nears

Cars24 cofounder Mehul Agarwal quits operating role as IPO countdown nears

Cars24 is seeing another high-level exit as cofounder and COO Mehul Agarwal steps back from his operating role after 11 years, while continuing on the board. The move follows other senior departures and comes as the IPO process reportedly accelerates. Cars24 says it has already notched its first globally profitable quarter and is positioning itself for a full-stack vehicle ownership platform.

Summarised by Beize from a story on Inc42 on 30 Apr 2026
Cars24 cofounder Mehul Agrawal exits day to day role before IPO plans

Cars24 cofounder Mehul Agrawal exits day to day role before IPO plans

Cars24 cofounder Mehul Agrawal is stepping down from his operating role after more than a decade, while continuing as a board member. The leadership shift comes shortly after cofounder Gajendra Jangid exited as CMO. The changes are unfolding as Cars24 scales its business and moves toward preparations for an IPO.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026
Cars24 cofounder Gajendra Jangid steps down as CMO as IPO timeline tightens

Cars24 cofounder Gajendra Jangid steps down as CMO as IPO timeline tightens

Cars24 cofounder Gajendra Jangid is taking a break from his CMO role amid fresh top-level changes at the used-car platform. The company says it is targeting an IPO within the next six to twelve months, supported by strong recent financial performance. The leadership shift is widely viewed as aligning the business for growth and a public-market debut.

Summarised by Beize from a story on The Economic Times on 28 Apr 2026

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