With the FY19 ending recently, companies are revealing their financial performances in their annual report.
Jaipur-based CarDekho, an auto portal platform, claims to have done well during the fiscal year with 62 per cent growth in revenue taking the figure to Rs 260 crore.
In a press statement, the company gave a detailed layout of its revenue disclosing an overall $53 million revenue exit run rate. The new-car segment, even with a slump, is the top grosser for CarDekho with $26.4 million revenue exit run rate with a year-on-year growth rate of 43 per cent.
The new car segment is apparently EBIDTA positive and is the base for funding the businesses in investment phase in FY20.
At the same time, the used-car segment, even with the second position banking on $21 million revenue exit run rate is growing at a rapid speed. The year-on-year growth mark here stands at 140 per cent. At this rate, the segment is slated to take on the new-car sales on CarDekho by the end of FY20.
Looking at this fact, the company has been bullish on its offline store approach to used car sales under the name Gaadi by CarDekho. Sales of over 800 cars have been executed across 12 stores in Delhi NCR within 2 months of launch, and the company has expanded to Bengaluru as well. By the end of April, their aim is to open 30 stores across NCR and Bengaluru.
The company has also revealed how it has been able to control the pre-marketing operating burn by 8 per cent (or $200k). 95 per cent of their operating burn was restricted to Q4 FY19 where the company started to invest in Consumer to Dealer Auction business. The expense and loss figures were not mentioned in the statement.
As far as numbers are concerned, the Amit Jain led company saw 78 million visits in the last month of the fiscal year. It claims to be dominating the ecosystem market with 65 per cent share and 1.4 million unique visitors per day. This resulted in a $1.2 billion GMV across 310k plus transactions for the company.
As this growth and on the ecosystem approach of the company in both new and used car segments along with the provision of financial services, the FY20 plans according to Jain involve further enhancement of these services to strengthen its position as number one in the auto ecosystem market.