Startup Atlas · Auto-tech

CARS24 Unicorn

Cars24 Services Private Limited ● Gurugram, Haryana ● Founded 2015 ● cars24.com ↗
Vikram Chopra · Co-founder & CEO Mehul Agrawal · Co-founder; COO until stepping down from the operating role in April 2026, remains on the board Gajendra Jangid · Co-founder & CMO; transitioned to an advisory/brand role in 2026 Ruchit Agarwal · Co-founder & CFO
$1.12 BnTotal funding (tracked)
9Funding rounds
21 Jul 2025Last round

CARS24: Financial Breakdown

Figures below are FY24, consolidated basis, compiled from filings and disclosures — every year cited to its source.

Operating revenue Rs 6,917.1 Cr, up 25% YoY from Rs 5,529.6 Cr in FY23 (core car-selling: Rs 6,400 Cr; financial/ancillary: ~Rs 500 Cr). Also rounded to Rs 6,910 Cr elsewhere.Total revenue · +28.7% YoY
Total expenditure Rs 7,488 Cr, up 23.72% YoY from Rs 6,052 Cr in FY23Total expenses
Adjusted EBITDA loss improved 19% to Rs 319 Cr (also cited Rs 318.8 Cr) from Rs 392 Cr in FY23EBITDA
Net loss Rs 498.4 Cr, up 7% YoY from Rs 467.7 Cr in FY23Net loss · loss widened 9.7% YoY

Revenue by fiscal year

02004006008001,000$MINR 6,233 crore revenue from operations (India consolidated; excludes INR 125 crore non-operating income): $736.9M737FY25Rs 5,092 crore: $576.3M576FY2026Operating revenue Rs 2,717.9 Cr (US$371.3 Mn), down 12.6% YoY from Rs 3,108.8 Cr in FY20: $371.3M371FY21Revenue from operations Rs 5,136 Cr (also cited as Rs 5,136.5 Cr), up ~87% YoY vs FY21: $611.5M612FY22Revenue from operations Rs 5,535 Cr, up 7.8% YoY from Rs 5,136 Cr: $659M659FY23Operating revenue Rs 6,917.1 Cr, up 25% YoY from Rs 5,529.6 Cr in FY23 (core car-selling: Rs 6,400 Cr; financial/ancillary: ~Rs 500 Cr). Also rounded to Rs 6,910 Cr elsewhere.: $823.5M824FY24

Net profit / loss by fiscal year

-150-100-500$MINR 543 crore net loss: $-64.2M-64FY25Rs 441 crore loss: $-49.9M-50FY2026Net loss reduced 29% to Rs 211.3 Cr (US$28.87 Mn); accumulated losses of Rs 1,054.3 Cr as of 31 Mar 2021: $-28.9M-29FY21Net loss Rs 1,094 Cr (PBT loss cited precisely as Rs 1,093.1 Cr): $-130.2M-130FY22Net loss Rs 468 Cr (also cited precisely as Rs 467.7-467.8 Cr), down 57.2% YoY: $-55.7M-56FY23Net loss Rs 498.4 Cr, up 7% YoY from Rs 467.7 Cr in FY23: $-59.3M-59FY24

Bars below the line are a net loss for that year.

Fiscal year Revenue Total expenses EBITDA Net profit / loss Source
FY24 Operating revenue Rs 6,917.1 Cr, up 25% YoY from Rs 5,529.6 Cr in FY23 (core car-selling: Rs 6,400 Cr; financial/ancillary: ~Rs 500 Cr). Also rounded to Rs 6,910 Cr elsewhere. Total expenditure Rs 7,488 Cr, up 23.72% YoY from Rs 6,052 Cr in FY23 Adjusted EBITDA loss improved 19% to Rs 319 Cr (also cited Rs 318.8 Cr) from Rs 392 Cr in FY23 Net loss Rs 498.4 Cr, up 7% YoY from Rs 467.7 Cr in FY23 source
FY23 Revenue from operations Rs 5,535 Cr, up 7.8% YoY from Rs 5,136 Cr Total expenses/expenditure Rs 6,058 Cr (Inc42's FY24 article cites Rs 6,052 Cr for FY23) EBITDA margin -5.04% per source (verification found the previously-cited Rs 337.6 Cr/-6% figures unsupported by cited source; no absolute Rs Cr disclosed) Net loss Rs 468 Cr (also cited precisely as Rs 467.7-467.8 Cr), down 57.2% YoY source
FY22 Revenue from operations Rs 5,136 Cr (also cited as Rs 5,136.5 Cr), up ~87% YoY vs FY21 Total expenses Rs 6,256 Cr (also cited as Rs 6,256.3 Cr) EBITDA margin -18.83% per source (verification found the previously-cited Rs 997.7 Cr/-19% figures unsupported by cited source; no absolute Rs Cr disclosed) Net loss Rs 1,094 Cr (PBT loss cited precisely as Rs 1,093.1 Cr) source
FY21 Operating revenue Rs 2,717.9 Cr (US$371.3 Mn), down 12.6% YoY from Rs 3,108.8 Cr in FY20 Annual costs Rs 2,963.14 Cr (US$404.8 Mn), down 14.2% YoY EBITDA margin improved 201 bps to +6.61% (no absolute Rs crore figure disclosed in source) Net loss reduced 29% to Rs 211.3 Cr (US$28.87 Mn); accumulated losses of Rs 1,054.3 Cr as of 31 Mar 2021 source
FY2026 Rs 5,092 crore Rs 5,674 crore — Rs 441 crore loss source
FY25 INR 6,233 crore revenue from operations (India consolidated; excludes INR 125 crore non-operating income) INR 6,898 crore total expenditure EBITDA margin -6.77% (no absolute Rs crore figure disclosed in source); ROCE -21.13% INR 543 crore net loss source

Nothing here is blurred or gated — every figure Atlas has is shown in full, free.

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the "source" links beside each entry. Profile sources: tracxn.com · Last verified 23 Oct 2026. · Report a correction