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Groww

Billionbrains Garage Ventures Ltd

GROWW NSE
₹207.23 +1.25 (+0.61%)
P/E
48.08
View as Markdown
MCP
Close 4 Nov 2026 ₹207.23 +75.90 +57.8% 1Y
Start ₹131.33

Key Fundamentals

LargecapCapital MarketsFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
37.30%
Debt to Equity
0.01
EPS (TTM)
₹4.31
Book Value
₹18.45
Market Cap
—
P/E (TTM)
48.08
P/B
11.23
ROE
28.80%
Dividend Yield
0.00%
EBITDA
₹2,918 Cr
52W High
₹227.20
52W Low
₹112.00
Day Range
₹204.98 – ₹209.90
Volume
2,44,98,504

Peer Comparison

Financial Services › Capital Markets › Stock Broking › Stockbroking & Allied

Groww peer comparison
Groww (this company)
₹207.2348.08₹1,31,118 Cr11.230.00%28.80%37.30%₹5,724 Cr₹2,693 Cr
Motilal Oswal Financial Services
₹1,013.0030.77₹61,868 Cr3.930.59%15.50%12.70%₹10,063 Cr₹1,984 Cr
360 One WAM
₹1,068.7034.83₹44,218 Cr3.671.27%14.40%12.10%₹4,664 Cr₹1,247 Cr
Nuvama Wealth Management
₹1,846.4030.99₹34,294 Cr8.310.75%27.40%17.50%₹4,884 Cr₹1,083 Cr
Angel One
₹312.1024.63₹28,381 Cr4.280.77%15.60%14.80%₹5,651 Cr₹1,155 Cr
IIFL Capital Services
₹349.0519.09₹10,997 Cr3.180.86%16.20%21.10%₹2,434 Cr₹572 Cr
Share India Securities
₹182.9211.01₹4,051 Cr1.380.49%13.00%18.40%₹1,577 Cr₹364 Cr
Median 7 companies₹349.0530.77₹34,294 Cr3.930.75%15.60%17.50%₹4,884 Cr₹1,155 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

63 Good

Data confidence 100/100

Category scores

Quality
72
Strong
Returns, margins, earnings quality 22% weight
Valuation
27
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
76
Strong
Solvency, leverage, coverage 9% weight
Momentum
58
Good
Trend strength, vol-adjusted 12% weight
Ownership
82
Strong
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 33.9%

Weaknesses

2
  • Stock is trading at 10.2 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3412
OscillatorsBearish342
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
66.22
Neutral
MACD (12,26,9)
2.16
Bullish
SMA (50)
192.22
Bullish
SMA (200)
187.46
Bullish

As of

Analyst Rating

Based on 11 analysts
BUY91%

10 of 11 analysts rate Buy, 1 Hold, 0 Sell.

As of

BUY
10
91%
HOLD
1
9%
SELL
0
0%

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
3Y+59.63%
1Y+14.38%
TTM+54.74%

Net profit

Net profit growth by window
3Y+65.68%
1Y+14.20%
TTM+40.63%

Operating cash flow

Operating cash flow growth by window
3YTurned negative
1YOutflow narrowed by ₹941 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
3Y+24.13 pp
1Y−3.23 pp
TTM−4.44 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2022₹427 Cr
Mar 2023₹1,142 Cr
Mar 2024₹2,794 Cr
Mar 2025₹4,061 Cr
Mar 2026₹4,645 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2022−₹239 Cr
Mar 2023₹458 Cr
Mar 2024−₹805 Cr
Mar 2025₹1,824 Cr
Mar 2026₹2,083 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹1,057 Cr +5.0% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

As of 2026-11-03, Billionbrains Garage Ventures (Groww) trades at ₹205.98 with a market cap of ₹1,25,911 crore, commanding a TTM P/E of 47.79x and P/B of 11.16x. The company has delivered 60% compounded sales growth over three years with a near-zero debt profile (debt-to-equity of 0.03), but pays no dividend and trades at a substantial premium to book value.

Bull Case 8
  • Compounded sales growth of 60% over three years and 55% on a TTM basis reflects rapid revenue scaling in the capital markets platform space.
  • Compounded profit growth of 66% over three years demonstrates strong operating leverage as the business scales.
  • The company is virtually debt-free with a debt-to-equity ratio of just 0.03, providing significant financial flexibility and low interest-rate risk.
  • Return on equity of 21.58% as of the latest period, supported by a 3-year average ROE of 34% and 5-year average of 25%, indicates consistently efficient capital deployment.
  • ROCE of 29.33% suggests the business generates healthy returns on total capital employed, well above typical cost-of-capital benchmarks.
  • The stock has appreciated roughly 84% from its 52-week low of ₹112 to the current price of ₹205.98, reflecting sustained investor interest and positive momentum.
  • TTM profit growth of 41% shows the company continues to deliver meaningful earnings expansion even on a larger base.
  • Last-year ROE of 29% remained well above 25%, indicating that profitability efficiency has not deteriorated as the company has scaled.
Bear Case 6
  • The stock trades at 11.16 times book value, which is elevated even for a high-growth capital markets business and implies expectations of sustained supernormal returns.
  • Zero dividend yield means shareholders depend entirely on capital appreciation; the company retains all profits despite reporting repeated profitability.
  • Capital markets businesses are inherently cyclical — revenue and profit growth of 55% and 41% TTM respectively are tied to market activity levels that can contract sharply during downturns.
  • TTM EPS of ₹4.31 against a share price of ₹205.98 means investors are paying a steep premium per rupee of current earnings, amplifying risk if growth disappoints.
  • The deceleration from 66% three-year compounded profit growth to 41% TTM profit growth hints at potential growth moderation as the base effect becomes larger.
  • At a market cap of ₹1,25,911 crore, the company needs to sustain exceptional growth for several years to justify its current valuation multiples, raising execution risk.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Groww shows healthy momentum on the retail brokerage front, adding over 100,000 active clients in September alone. No material headwinds emerged in recent news, though a large unconfirmed block trade of ~₹97.63 crore warrants monitoring for potential stake changes. The promoter-to-public reclassification is procedural and not a red flag. The trend appears stable with user growth intact, and upcoming quarterly disclosures will be key to confirming whether revenue and profitability are keeping pace with client additions.

Positives 1
  • 100K+ active clients added Oct 08

    Groww added more than 100,000 active clients in September, reflecting sustained retail investor participation and strong user base growth.

Neutral 3
  • ₹97.63 Cr large block trade Nov 02

    Approximately 5.04 million Groww shares changed hands on NSE at ₹193.64 per share in an unconfirmed large trade worth ₹97.63 crore.

  • Q2FY27 results and reclassification approved Oct 14

    The board approved Q2FY27 financial results and filed with stock exchanges to reclassify certain promoter group shareholdings to public category under SEBI regulations.

  • Q2FY27 earnings call released Oct 14

    Groww made the audio recording of its Q2FY27 earnings conference call available to investors and analysts.

Quarterly Results

₹ Cr
GROWW quarterly results, ₹ crore
Particulars Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
1,125
975
801
904
1,019
1,216
1,505
1,501
1,502
Expenses
575
−40
413
422
415
496
567
531
534
Operating Profit
550
1,014
388
483
603
720
938
970
968
OPM %
49%
104%
48%
53%
59%
59%
62%
65%
64%
Other Income
35
30
49
44
52
45
30
47
39
Interest
9
16
16
16
11
10
8
7
5
Depreciation
6
7
7
7
7
9
24
18
18
PBT
570
1,022
414
503
638
745
936
993
985
Tax %
26%
26%
25%
25%
26%
27%
27%
26%
26%
Net Profit
420
757
309
378
471
547
686
735
725
EPS (₹)
2.7
4.14
1.69
1.81
0.79
0.89
1.09
1.17
1.16

Profit & Loss

₹ Cr
GROWW profit and loss, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
427
1,142
2,794
4,061
4,645
5,724
Expenses
661
743
2,050
1,531
1,901
2,129
Operating Profit
−233
399
743
2,530
2,744
3,596
OPM %
−55%
35%
27%
62%
59%
63%
Other Income
0
119
−1,337
0
171
161
Interest
0
2
4
43
46
31
Depreciation
3
12
20
25
48
70
PBT
−236
504
−618
2,464
2,821
3,657
Tax %
1%
9%
30%
26%
26%
—
Net Profit
−239
458
−805
1,824
2,083
2,693
EPS (₹)
−2.93
5.6
−9.85
9.98
3.32
4.31
Div. Payout %
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
GROWW balance sheet, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
0.11
21
21
366
1,248
1,248
Reserves
2,706
3,252
2,478
4,446
8,404
10,320
Borrowings
0
75
91
610
292
77
Other Liabilities
1,291
1,460
5,428
4,654
8,567
8,147
Total Liabilities
3,997
4,808
8,018
10,076
18,511
19,792
Fixed Assets
286
321
396
402
1,492
1,468
CWIP
0
0
0
0
0
0
Investments
280
1,252
1,448
1,907
2,638
3,396
Other Assets
3,431
3,235
6,174
7,768
14,381
14,929
Total Assets
3,997
4,808
8,018
10,076
18,511
19,792

Cash Flow

₹ Cr
GROWW cash flow, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−349
548
885
−962
−21
Investing
−1,512
−363
−910
140
−1,351
Financing
1,874
−5
4
876
2,175
Net Cash Flow
14
179
−21
53
804
Free Cash Flow
−357
537
878
−979
−33
CFO/EBITDA
144
150
157
37
26

Ratios

GROWW financial ratios, annual
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
12
12
9
9
22
Cash Conversion Cycle
12
12
9
9
22
Working Capital Days
−961
−2
−434
−162
−257
ROCE %
—
16%
24%
63%
37%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Groww insights

30 extracted metrics across FY22–FY27.

Shareholding Pattern

As of Sep 2026

  • Others 43.42%
  • Promoters 27.13%
  • DIIs 12.73%
  • FIIs 10.90%
  • Public 5.81%

1.21% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Groww

What does Billionbrains Garage Ventures Ltd do?
Incorporated in 2017, Groww is a Bengaluru-based fintech company that provides retail investors direct-to-customer digital investment platform, providing multiple financial products and services.
Where is Billionbrains Garage Ventures Ltd (GROWW) listed?
Billionbrains Garage Ventures Ltd trades as GROWW on the NSE and under code 544603 on the BSE.
Which sector does Billionbrains Garage Ventures Ltd belong to?
Billionbrains Garage Ventures Ltd is classified under the Capital Markets sector, in the Stock Broking industry.
What is the PE ratio of Billionbrains Garage Ventures Ltd?
Billionbrains Garage Ventures Ltd trades at a PE ratio of 48.08 as of 4 Nov 2026, on earnings per share of ₹4.31, against a book value of ₹18.45 per share.
What is the 52-week high and low of Billionbrains Garage Ventures Ltd?
Over the last 52 weeks Billionbrains Garage Ventures Ltd has traded between ₹112 and ₹227.2 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Billionbrains Garage Ventures Ltd?
Billionbrains Garage Ventures Ltd reported a return on equity of 28.80%. Its debt-to-equity ratio is 0.01.

Company Information

Incorporated in 2017, Groww is a Bengaluru-based fintech company that provides retail investors direct-to-customer digital investment platform, providing multiple financial products and services.

Website groww.in
CEO Mr. Lalit Keshre
Listed 12 Nov 2025
Face Value ₹2

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