Groww
Groww
Financial ServicesKey Fundamentals
LargecapStock BrokingCapital MarketsPrice-based figures as of 9 Oct 2026, 3:59 pm IST · EPS basis: Consolidated · TTM
Tapetide Score
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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 12.5 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
Growth Rate
AI Analysis — Bull vs Bear
As of the 2026-10-06 close, Billionbrains Garage Ventures Ltd (Groww) traded at Rs 193.19, giving a market cap of Rs 121,199.61 Cr, a P/E of 49.03 on TTM EPS of Rs 3.94 and a P/B of 12.54. Its fundamentals are strong: sales grew at a 60% CAGR and profit at a 66% CAGR over three years, ROCE is 29.33% and debt-to-equity is 0.03. Against that, TTM ROE of 21.58% is below the 3-year average of 34%, TTM profit growth of 31% is slower than TTM sales growth of 38%, and the company pays no dividend.
- Sales grew at a 60% CAGR and profit at a 66% CAGR over three years. Profit growing faster than revenue over this period points to operating leverage in the platform model.
- Growth is still high on a trailing basis, with TTM sales up 38% and TTM profit up 31%. That is a large expansion for a company with a market cap of Rs 121,199.61 Cr.
- Debt-to-equity is 0.03, so the company is almost debt free and has reduced debt. Financial risk is low and the balance sheet has room for growth investment.
- ROCE of 29.33% shows the business earns high returns on the capital it uses, as expected from an asset-light digital brokerage and investment platform.
- ROE has averaged 34% over three years and 25% over five years, with 29% last year. TTM ROE of 21.58% is still above typical cost-of-equity levels.
- Against TTM profit growth of 31%, the P/E of 49.03 gives a PEG of about 1.6. Against the 3-year profit CAGR of 66%, it gives a PEG of about 0.7. The valuation looks less stretched when set against growth than the headline multiple suggests.
- At Rs 193.19 the stock is about 72% above its 52-week low of Rs 112, which shows strong market demand for the company over the past year.
- The company is expected to report a good quarter. With TTM sales growth at 38%, near-term operating momentum looks intact.
- The P/E of 49.03 gives an earnings yield of about 2.0%. That leaves little room for error if growth slows from its current 31% TTM profit growth rate.
- P/B is 12.54, about Rs 193 per share against implied book value of about Rs 15.4. The price depends heavily on future growth rather than on net assets.
- Returns are falling. TTM ROE is 21.58%, against 29% last year and a 3-year average of 34%. Each additional rupee of equity is earning less than before.
- TTM profit growth of 31% is slower than TTM sales growth of 38%, which suggests margins are under pressure from costs, competition or a changing revenue mix.
- Growth is also slowing from the three-year pace: sales from a 60% CAGR to 38% TTM, and profit from a 66% CAGR to 31% TTM. If this continues, a 49.03x multiple may be hard to sustain.
- Dividend yield is 0% even though the company is consistently profitable on TTM EPS of Rs 3.94. Shareholder returns depend entirely on the share price going up.
- Brokerage and capital markets revenue tends to rise and fall with retail trading activity and regulation. The stock has traded between Rs 112 and Rs 227.2 over 52 weeks, a range of about 103% from the low, which shows high sensitivity to market sentiment.
- There is no data for 5-year and 10-year sales and profit CAGR or for stock-price CAGR, so the company has a short track record of results through a full market cycle at its current scale.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Peak XV trims stake via open market Sep 22
Peak XV Partners Investments VI-1 sold 16,69,97,368 equity shares between May 12, 2026 and September 17, 2026, cutting its stake from 16.88% to 14.22% (about 2.66 percentage points). Steady selling by a large early investor can weigh on the stock, and the remaining 14.22% holding could keep supply pressure on.
- 100K+ active clients added in September Oct 8
Groww added more than 100,000 active clients in September, according to multiple reports. This shows retail investors are still actively using the platform and supports the company's market-share momentum.
TL;DR: Groww's operations look healthy: it added more than 100,000 active clients in September, which points to continued retail participation and user growth. The main near-term risk is supply, since Peak XV sold about 16.7 crore shares between May and September 2026 and still holds 14.22%, so more sales are possible. Business trends are improving while the shareholder overhang remains. Watch monthly client additions and any further stake sales by early investors over the coming months.
Quarterly Results
| Particulars | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,125 | 975 | 801 | 904 | 1,019 | 1,216 | 1,505 | 1,501 |
| Expenses | 575 | -40 | 413 | 422 | 415 | 496 | 567 | 531 |
| Operating Profit | 550 | 1,014 | 388 | 483 | 603 | 720 | 938 | 970 |
| OPM % | 49% | 104% | 48% | 53% | 59% | 59% | 62% | 65% |
| Other Income | 35 | 30 | 49 | 44 | 52 | 45 | 30 | 47 |
| Interest | 9 | 16 | 16 | 16 | 11 | 10 | 8 | 7 |
| Depreciation | 6 | 7 | 7 | 7 | 7 | 9 | 24 | 18 |
| PBT | 570 | 1,022 | 414 | 503 | 638 | 745 | 936 | 992 |
| Tax % | 26% | 26% | 25% | 25% | 26% | 27% | 27% | 26% |
| Net Profit | 420 | 757 | 309 | 378 | 471 | 547 | 686 | 735 |
| EPS in Rs | 13.51 | 20.71 | 1.69 | 1.81 | 0.79 | 0.89 | 1.09 | 1.17 |
Profit & Loss
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|
| Sales | 427 | 1,142 | 2,794 | 4,061 | 4,645 | 5,242 |
| Expenses | 661 | 743 | 2,050 | 1,531 | 1,901 | 2,010 |
| Operating Profit | -233 | 399 | 743 | 2,530 | 2,744 | 3,231 |
| OPM % | -55% | 35% | 27% | 62% | 59% | 62% |
| Other Income | 0 | 119 | -1,337 | 0 | 171 | 174 |
| Interest | 0 | 2 | 4 | 43 | 46 | 37 |
| Depreciation | 3 | 12 | 20 | 25 | 48 | 58 |
| PBT | -236 | 504 | -618 | 2,464 | 2,821 | 3,310 |
| Tax % | 1% | 9% | 30% | 26% | 26% | — |
| Net Profit | -239 | 458 | -805 | 1,824 | 2,083 | 2,440 |
| EPS in Rs | -2,145 | 67.2 | -118 | 9.98 | 3.32 | 3.94 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | 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 | 8,567 |
| Total Liabilities | 3,997 | 4,808 | 8,018 | 10,076 | 18,511 |
| Fixed Assets | 286 | 321 | 396 | 402 | 1,492 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 280 | 1,252 | 1,448 | 1,907 | 2,638 |
| Other Assets | 3,431 | 3,235 | 6,174 | 7,768 | 14,381 |
| Total Assets | 3,997 | 4,808 | 8,018 | 10,076 | 18,511 |
Cash Flow
| Particulars | 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
| Particulars | 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 | -257 |
| ROCE % | — | 16% | 24% | 63% | 37% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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29 extracted metrics + investor summaries across FY22–FY27.
Documents
Frequently Asked Questions about Groww
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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]
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