Bengaluru based startup-Zerodha crossed INR 2,700 cr revenue
- ByStartupStory | March 5, 2022
The Kamath brothers-led stock broking platform Zerodha has crossed INR 2,500 Cr in revenue operations in the financial year ending on March 31, 2021. The startup which turned unicorn without any external investment from venture capital has generated a sales worth INR 2,728.9 Cr in FY21. Discount broker Zerodha has had tremendous growth during the last year with the corona lockdowns acting as catalysts for its growth as new retail investors flocked to the share market.
Nithin Kamath-led Zerodha has posted a revenue from sales worth INR 2,728.9 Cr in FY21, a 2.9X rise from INR 938.4 Cr in FY20. Zerodha’s expenses climbed to INR 1,260.1 in FY21, a 143.4% rise from INR 517.6 Cr in FY20. As per National Stock Exchange data, Zerodha had an active client base of more than 3.14 million as of January 31, 2021, and it stood as the biggest share brokerage firm in India. It sports nearly double the scale as compared to its nearest competitor Upstox which had 1.8 million active clients.
The Bengaluru based company has managed to grow its earnings by over 15% to Rs 1,093.64 crore during the fiscal ended in March 2020 from Rs 950 crore earned in FY19. While achieving healthy growth in operations, Zerodha has also maintained a sizable EBITDA margin of 55.37%. And, it’s way ahead of the second top player in the space. Zerodha’s closest competitor in terms of user base Upstox posted annual earnings of Rs 148 crore for FY20.
Zerodha has booked around 13.8% of its earnings as tax expenditure and recorded a post-tax profit of Rs 442.4 crore for the financial year 2019-20. Finance costs of Rs 9.74 accounted for a little less than 2% of the total expenditure incurred by Zerodha, which stood at Rs 500.66 crore in FY20. Wealth management platforms have witnessed a surge in numbers in the post-Covid-19 period after a bull rally in world equity markets. Led by Zerodha, the Indian stock market investing is being popularised among millennials by platforms including Upstox, Paytm Money, ETMONEY and Groww. The startup saw its profit grow to INR 1,122.3 Cr in FY21, a 164.7% increase from INR 423.9 Cr in FY20.
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