Billionbrains Garage Ventures Ltd
GROWW NSE
Billionbrains Garage Ventures Ltd
Financial ServicesNSE: GROWW BSE: 544603 Capital Markets
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.[1]
AI Verdict: BUY Confidence: 6%
Groww's 60% sales CAGR over 3 years and 34% ROE demonstrate exceptional growth in India's underpenetrated capital markets space. At a PE of 58.5x, valuation is rich but supported by 77.78% analyst buy ratings and a debt-free balance sheet. The stock is suitable for growth-oriented investors with a 3-5 year horizon.
Key Fundamentals
LargecapStock BrokingCapital MarketsMarket Cap
1.3L Cr
Volatility
Moderate
P/E Ratio
43.62
EBITDA
₹2,744 Cr
Debt to Equity
0.08
Book Value
₹15.4
52W High
₹227.2
52W Low
₹112
Technical Indicators
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.9%
Weaknesses
3- Stock is trading at 13.0 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.43%
Growth Rate
Revenue Growth
14.35% ↘
Net Income Growth
12.43% ↘
Cash Flow Change
-208.72% ↘
ROE
-218.59% ↘
ROCE
-314.07% ↘
EBITDA Margin (Avg.)
-8.61% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 1d agoBUY
Risk high
Groww's 60% sales CAGR over 3 years and 34% ROE demonstrate exceptional growth in India's underpenetrated capital markets space. At a PE of 58.5x, valuation is rich but supported by 77.78% analyst buy ratings and a debt-free balance sheet. The stock is suitable for growth-oriented investors with a 3-5 year horizon.
Bull Case 8
- Exceptional 3-year compounded sales growth of 60% reflects rapid customer acquisition and market share gains in the discount broking space
- 3-year ROE of 34% indicates highly efficient capital deployment, well above the 15-20% benchmark for financial services companies
- Company is virtually debt-free, providing significant financial flexibility and resilience against interest rate cycles
- 77.78% of analysts (7 out of 9) rate the stock a Buy, indicating broad institutional confidence in the business model
- 3-year compounded profit growth of 66% outpaces revenue growth, demonstrating improving operating leverage and scalability
- Market cap of Rs 1,24,123 crore positions Groww as a large-cap platform play on India's financialization theme with deep liquidity
- TTM sales growth of 14% on a significantly larger base shows the company is sustaining momentum even after the high-growth phase
- Last year ROE of 29% remains strong, confirming that profitability quality is being maintained as the business scales
Bear Case 8
- PE ratio of 58.5x is expensive relative to traditional capital market intermediaries which trade at 20-30x, leaving limited margin of safety
- Price-to-book of 12.61x means investors are paying a steep premium over tangible assets, increasing downside risk in a correction
- Zero dividend yield despite repeated profitability suggests no near-term shareholder returns via cash distribution
- Promoter holding decreased by 0.43% in the last quarter, which may signal insider confidence concerns or dilution
- TTM profit growth has decelerated sharply to 14% from the 3-year CAGR of 66%, indicating potential growth normalization
- TTM sales growth of 14% compared to 3-year CAGR of 60% confirms significant deceleration, questioning whether high-growth multiple is justified
- Capital markets sector is highly cyclical and correlated to equity market volumes — any sustained market downturn could compress revenues materially
- Absence of 52-week high/low data and limited 5/10-year track record makes long-term valuation benchmarking difficult for a recently listed entity
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Positives 1
- SEBI approves State Street investment Jun 1
SEBI approved State Street Global Advisors' investment in Groww AMC. SSGA will hold 4.85% voting rights and 22.94% economic interest in the subsidiary.
Neutral 2
- FY26 shareholding pattern disclosed Jun 17
Billionbrains Garage Ventures filed its FY26 shareholding pattern with exchanges. Promoters declared no new encumbrances on shares.
- 2.74 lakh stock options granted Jun 2
Billionbrains granted 2,74,214 stock options to employees under ESOS 2024, priced at Rs. 2 each and convertible into equity shares.
TL;DR: Groww is attracting credible global partners with SEBI approving State Street's strategic investment in its AMC arm, signaling confidence in its asset management ambitions. No material headwinds emerged in this period. Employee stock option grants indicate continued investment in talent retention. The trend is stable to mildly positive, with the State Street partnership potentially accelerating Groww's AMC growth trajectory.
Quarterly Results
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 1,125 | 975 | 801 | 904 | 1,019 | 1,216 | 1,505 |
| Expenses | 575 | -40 | 413 | 422 | 415 | 496 | 567 |
| Operating Profit | 550 | 1,014 | 388 | 483 | 603 | 720 | 938 |
| OPM % | 49% | 104% | 48% | 53% | 59% | 59% | 62% |
| Other Income | 35 | 30 | 49 | 44 | 52 | 45 | 30 |
| Interest | 9 | 16 | 16 | 16 | 11 | 10 | 8 |
| Depreciation | 6 | 7 | 7 | 7 | 7 | 9 | 24 |
| PBT | 570 | 1,022 | 414 | 503 | 638 | 745 | 936 |
| Tax % | 26% | 26% | 25% | 25% | 26% | 27% | 27% |
| Net Profit | 420 | 757 | 309 | 378 | 471 | 547 | 686 |
| EPS in Rs | 13.51 | 20.71 | 1.69 | 1.81 | 0.79 | 0.89 | 1.09 |
Profit & Loss
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales | 427 | 1,142 | 2,794 | 4,061 | 4,645 |
| Expenses | 661 | 743 | 2,050 | 1,531 | 1,901 |
| Operating Profit | -233 | 399 | 743 | 2,530 | 2,744 |
| OPM % | -55% | 35% | 27% | 62% | 59% |
| Other Income | 0 | 119 | -1,337 | 0 | 171 |
| Interest | 0 | 2 | 4 | 43 | 46 |
| Depreciation | 3 | 12 | 20 | 25 | 48 |
| PBT | -236 | 504 | -618 | 2,464 | 2,821 |
| Tax % | 1% | 9% | 30% | 26% | 26% |
| Net Profit | -239 | 458 | -805 | 1,824 | 2,083 |
| EPS in Rs | -2,145 | 67.2 | -118 | 9.98 | 3.32 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.11 | 21 | 21 | 366 | 1,248 |
| Reserves | 2,706 | 3,252 | 2,478 | 4,446 | 8,404 |
| Borrowings | 0 | 75 | 91 | 610 | 292 |
| Other Liabilities | 1,291 | 1,460 | 5,428 | 4,654 | 8,597 |
| Total Liabilities | 3,997 | 4,808 | 8,018 | 10,076 | 18,541 |
| Fixed Assets | 286 | 321 | 396 | 402 | 253 |
| CWIP | 0 | 0 | 0 | 0 | 1,239 |
| Investments | 280 | 1,252 | 1,448 | 1,907 | 2,638 |
| Other Assets | 3,431 | 3,235 | 6,174 | 7,767 | 14,412 |
| Total Assets | 3,997 | 4,808 | 8,018 | 10,076 | 18,541 |
Cash Flow
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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/OP | 144 | 150 | 157 | 37 | 26 |
Ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 12 | 12 | 9 | 9 | 22 |
| Cash Conversion Cycle | 12 | 12 | 9 | 9 | 22 |
| Working Capital Days | -961 | -2 | -434 | -162 | -526 |
| ROCE % | — | 16% | 24% | 63% | 37% |
Documents
1
Compliances-Reg.24(A)-Annual Secretarial Compliance
28 Apr - Filed Annual Secretarial Compliance Report for FY ended March 31, 2026. 28 Apr - Filed Annual Secretarial Compliance Report for FY ended March 31, 2026.
2
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
24 Apr - Groww filed transcript of Q4 FY26 earnings conference call held on April 20, 2026. 24 Apr - Groww filed transcript of Q4 FY26 earnings conference call held on April 20, 2026.
4
Grant Of Stock Options Under Billionbrains Garage Ventures Limited Employee Stock Option Scheme 2024
21 Apr - Groww granted 3,71,220 stock options to eligible employees on April 21, 2026. 21 Apr - Groww granted 3,71,220 stock options to eligible employees on April 21, 2026.
5
Compliances-Reg.24(A)-Annual Secretarial Compliance
28 Apr - Filed Annual Secretarial Compliance Report for FY ended March 31, 2026. 28 Apr - Filed Annual Secretarial Compliance Report for FY ended March 31, 2026.
1
Grant Of Options Under Billionbrains Garage Ventures Limited Employee Stock Option Scheme 2024. 8 Jun 2026
General_Announcements
2
Grant Of ESOP Options Under Billionbrains Garage Ventures Limited Employee Stock Option Scheme 2024 2 Jun 2026
General_Announcements
Frequently Asked Questions about Billionbrains Garage Ventures Ltd
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.[1]
Where is Billionbrains Garage Ventures Ltd (GROWW) listed?
Billionbrains Garage Ventures Ltd is listed on the Indian stock exchanges. It is listed on NSE: GROWW and BSE: 544603. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Billionbrains Garage Ventures Ltd belong to?
Billionbrains Garage Ventures Ltd operates in the Financial Services sector within the Capital Markets industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Billionbrains Garage Ventures Ltd?
Billionbrains Garage Ventures Ltd has a market capitalisation of approximately ₹125032.78 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Billionbrains Garage Ventures Ltd?
The Price-to-Earnings (PE) ratio of Billionbrains Garage Ventures Ltd is 43.62. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Billionbrains Garage Ventures Ltd?
Over the past 52 weeks, Billionbrains Garage Ventures Ltd has traded between a low of ₹112 and a high of ₹227.2. This range helps investors understand the stock's price volatility and recent trading levels.
How can I research Billionbrains Garage Ventures Ltd on Tapetide?
On Tapetide, you can view Billionbrains Garage Ventures Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
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.[1]