CarDekho, an auto-tech group, registered an impressive 81 per cent growth in consolidated revenue from operations, increasing to Rs 1,598 crore in FY22 from Rs 884 crore in FY21. The total expenses of the group increased by 70 per cent thereby indicating strong operating leverage.

Further, the group narrowed its total losses by 28 per cent, to Rs 246 crore in FY22 from Rs 341 crore in FY21. Furthermore, the group has a sizable war chest of over Rs 1,000 crore in net cash.

CarDekho Group, which facilitates the purchase and sale of cars and bikes, including EVs, as well as information and research, insurance brokerage, and financing for cars, bikes, and EVs, experienced significant growth across all business segments in FY22.

Amit Jain, Co-founder and CEO, CarDekho Group, said, "The stellar business growth is a testament to the trust reposed in CarDekho Group by over 50 million visitors, over 5,000 used car loan agent partners, more than 50,000 insurance partners in over 1300 cities, more than 3,500 used car dealers as at March 2022. The group has successfully leveraged its house of brands strategy, operating through multiple brands such as CarDekho, BikeDekho, InsuranceDekho, Rupyy, Zigwheels, etc.

On the group’s IPO plans, Mayank Gupta, Group Chief Financial Officer, CarDekho Group, mentions, "We believe that public listing will be one of the key milestones in our journey and we are definitely evaluating it subject to the requisite approvals and conducive market conditions. We are already preparing for our listing journey by aligning our activities across 3 clear workstreams – maintaining the highest corporate governance standards, focusing on sustainability and charting out clear path to profitability with long-term value creation for all our stakeholders."