Groww dethrones Zerodha as India's largest stockbroker with 66.3 lakh clients (2024)

Oct 12, 2023 03:42 PM IST

Groww surpasses Zerodha in active clients, but Zerodha leads in revenue.

Groww has overtaken Zerodha to become India's largest stockbroker with a substantial 66.3 lakh active clients, surpassing Zerodha's 64.8 lakh, as per NSE data.

Groww dethrones Zerodha as India's largest stockbroker with 66.3 lakh clients (1)

This surge represents remarkable growth for Groww. In March 2021, Zerodha had 34 lakh active customers while Groww had only 7.8 lakh, as per a report by Moneycontrol.

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NSE classifies active investors as those who execute at least one trade in a year.

Despite this growth in the number of users, Zerodha continues to dominate in terms of revenue, reporting a fivefold revenue compared to Groww.

Nithin Kamath's online stock broking platform, disclosed a 39 per cent increase in profit after tax (PAT) to ₹2,907 crore for the financial year ending on March 31, 2023. This is a substantial rise from the ₹2,094 crore PAT reported in the previous fiscal year. The company's revenues also surged by 38.5 per cent to reach ₹6,875 crore in FY23, up from ₹4,964 crore the year before.

In contrast, Groww's parent company, Nextbillion Technology Private Limited, reported a revenue of ₹1,294 crore in FY23. The company also recorded a net profit of ₹73 crore.

As of the end of September, the country had roughly 12.97 crore demat accounts. However, data from the NSE indicates that only 3.34 crore Indians actively engaged in trading on the exchange at least once a year.

Kamath had attributed the primary reason for the increase in Zerodha's revenue and profitability over the last three years to huge interest in the markets, especially in the futures and options (F&O) segment.

ALSO READ: How did Nithin Kamath grow Zerodha

While the trading activity in F&O has increased significantly, the total number of people trading F&O is still not that large. Overall, 45 lakh Indians traded once a year last year in F&O, he had written in a blogpost.

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News / Business / Groww dethrones Zerodha as India's largest stockbroker with 66.3 lakh clients

FAQs

Groww dethrones Zerodha as India's largest stockbroker with 66.3 lakh clients? ›

Groww surpasses Zerodha in active clients, but Zerodha leads in revenue. Groww has overtaken Zerodha to become India's largest stockbroker with a substantial 66.3 lakh active clients, surpassing Zerodha's 64.8 lakh, as per NSE data.

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Did Groww overtake Zerodha? ›

Groww overtook Zerodha in the number of active traders in September, with 6.6 million such customers against the rival's 6.4 million. In the three months since, Groww has grown its active trader base by a million, while for Zerodha, the expansion was by 300,000 users.

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Which is the largest client broker in India? ›

Brokerage firm Groww emerged as the largest broker in India with market share of 23.4 per cent and an active client base of 9.5 million in Financial Year 2023-24 (FY24).

Which broker is better than Zerodha? ›

Upstox is better than Zerodha only in terms of account opening fees and annual maintenance fees. A beginner investor can open a free account with no annual maintenance fees. Zerodha, on the other hand, appeals to active investors and traders with its free equity delivery and lower brokerage charges.

What if Groww shuts down? ›

For Mutual Funds

Your mutual fund investments reside at asset management companies (AMCs). Therefore, if, theoretically, Groww shuts down, your mutual funds are safe at the AMC.

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Is Groww in loss? ›

Financial services platform Groww turned profitable in the financial year ended 2023 and has reported a net profit of ₹448.7 crore in FY23 against a net loss of ₹239 crore in the previous fiscal according to company filings with the Ministry of Corporate Affairs.

Is Zerodha a loss making company? ›

Still, Zerodha is miles ahead when it comes to revenues. In FY23, Zerodha saw its net profit surge by 39 percent to Rs2,900 crore from Rs2,094 crore while its revenue grew by a staggering 35.5 percent to Rs6,875 crore in FY23 from Rs4,694 crore in the year-ago period.

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Is Zerodha 100% safe? ›

Yes, Zerodha is considered to be a safe platform for buying stocks. It is one of the largest stockbrokers in India and is regulated by the Securities and Exchange Board of India (SEBI).

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What is the disadvantage of Zerodha? ›

Zerodha Cons (Disadvantages)

Monthly unlimited trading plans are not available. Lifetime free AMC demat account plans are not available. An additional charge of Rs 50 per executed order for MIS/BO/CO positions which are not square off by the customer.

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Which broker is No 1 in India? ›

1. Zerodha: Known for its user-friendly platform and low brokerage fees, Zerodha has gained popularity among both beginner and seasoned traders. 2. Angel Broking: With a wide range of research tools and personalized advisory services, Angel Broking caters to investors looking for expert guidance.

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Is my money safe with Groww? ›

Groww is a CDSL Depository Participant and Stock Broker registered with the Securities and Exchange Board of India (SEBI). It is also a prominent member of stock exchanges like NSE, BSE, etc. We have all the legal memberships and are accredited with the required licenses making us a secure platform for investment.

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Why can't I sell my shares on Groww? ›

It is possible that sometimes the "Sell" button is grayed out. This happens when you just bought T2T category stocks. To sell these stocks, you will have to wait till they get delivered to your Demat account as per the SEBI regulation which takes 1 trading day, from the date you place a successful buy order.

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What if Zerodha run away? ›

If a broker were to run away, close down, or engage in misconduct, investors can claim compensation from this fund. The maximum amount that can be claimed directly from SEBI's investor protection fund is up to 25 lakh rupees.

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What happened to the Groww app? ›

Many Groww users also reported an unusual app crash on March 22. Google has confirmed in a statement that the error was due to Android System WebView. Android System WebView is a component powered by Google Chrome that lets Android applications display web content.

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Which is better, Zerodha or Groww or Upstox? ›

The brokerage of Zerodha ranges between Rs 20, the brokerage of Upstox ranges between Rs 20, while the brokerage of Groww ranges between Rs 20. All 3 brokers are discount brokers. Overall rating for Zerodha is 4.5, Upstox is rated 4.5, Groww is rated 4 out of 5.

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Who is the owner of Groww? ›

Who Owns Groww : Founders, Promoters, Investors, and Other Details. In 2016, four Flipkart employees – Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh, quit their jobs to start a venture that could make investing easy. They called this venture Groww and started operations In 2017.

Can I shift from Groww to Zerodha? ›

Yes, you can transfer your existing shares in another broker's demat to your Zerodha demat account.