Zerodha’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)

Zerodha, founded in 2010 by Nikhil Kamath and Nithin Kamath, is India’s largest and most disruptive retail brokerage platform. Headquartered in Bengaluru, Zerodha pioneered discount broking in India, democratizing access to financial markets by offering technology-driven, low-cost trading solutions across equities, commodities, and currency derivatives. As a fully bootstrap-funded venture, Zerodha has maintained profitability since its early years, enabling continuous reinvestment in product innovation, educational initiatives like Varsity, and ecosystem projects such as Rainmatter. The platform processes billions of trades annually, serving millions of retail investors through a seamless user interface and robust back-end systems. Over the past decade, Zerodha has expanded into mutual fund distribution with Coin, and launched smallcase, Sentinel, and other products, reinforcing its position as a holistic financial services provider. The company’s focus on operational efficiency, transparent pricing, and community-driven development has driven sustained revenue growth from around ₹4,694 Cr in FY22 to ₹8,320 Cr in FY24, alongside significant profit expansion. Zerodha’s leadership continues to explore new avenues like international markets, fintech partnerships, and regulatory engagement to shape the future of trading in India.

Zerodha’s revenue increased from ₹4,694 Cr in FY22 to ₹6,875 Cr in FY23 (↑46%) and to ₹8,320 Cr in FY24 (↑21%), while net profit rose from ₹2,094 Cr to ₹2,907 Cr (↑39%) and to ₹4,700 Cr (↑62%), reflecting strong operational scalability and market adoption of its discount broking model.

Profit margins improved from ~44.6% in FY22 to ~42.3% in FY23 and further to ~56.5% in FY24, driven by efficient cost management, technology-driven operations, and growing volumes contributing to higher profitability.

Zerodha’s workforce grew from approximately 600 in FY22 to around 800 in FY23 and to about 1,000 in FY24, reflecting scaling of technology, support, and compliance teams to support expanding user base. Future hiring focuses on product development, data science, and regulatory functions.

• Enhance product ecosystem with advanced analytics, AI-driven insights, and new asset classes like fractional investing.
• Expand educational initiatives and developer ecosystem to foster community engagement and platform stickiness.
• Explore international expansion opportunities in emerging markets leveraging its technology platform.
• Continue to innovate in regulatory compliance and cybersecurity to maintain trust in trading operations.
• No external funding; potential IPO discussions to be based on market conditions and sustained profitability.

In FY24, Zerodha crossed ₹8,320 Cr in revenue with ₹4,700 Cr net profit. The co-founders recently invested in fintech ventures like InCred. Zerodha’s valuation is estimated around ₹87,750 Cr, and it continues to drive innovation through Rainmatter and ecosystem products, with potential IPO timing dependent on market conditions.

Zerodha’s consistent revenue growth and high profitability demonstrate the strength of its discount brokerage model and technology-driven operations. As a fully bootstrapped leader, Zerodha’s focus on innovation, community engagement, and potential strategic decisions like IPO will define its next growth phase in India and beyond.

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