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Zerodha Capital clocks Rs 12.5 Cr profit in FY25

EntrackrEntrackr · 10m ago
Zerodha Capital clocks Rs 12.5 Cr profit in FY25
Medial

Zerodha Capital clocks Rs 12.5 Cr profit in FY25 Zerodha Capital, the lending arm of stockbroker Zerodha, posted a net profit of Rs 12.5 crore in the previous fiscal year ending March 2025 from Rs 7.2 crore in FY24. According to an ET report, the firm doubled its income to Rs 36 crore in FY25 from Rs 17 crore in FY24. As per ICRA, this rise in profit was driven by a 3.2X jump in its loan book, which grew to Rs 381 crore in the first nine months of the last fiscal year or 9M FY25. Zerodha Capital provides loans to retail investors by using their stocks or mutual funds as collateral. It runs with a small team and uses the strength of Zerodha’s broking business, which has 81 lakh (8.1 million) active clients on NSE—about 16% of the market. The platform uses this wide customer base to offer loans of up to Rs 1 crore by taking shares or mutual funds as security, lending up to 45% of their value. Most of this is done through digital platforms. Zerodha Capital’s net worth stood at Rs 170 crore with a gearing ratio of 1.4X as of December 2024, which means the company had Rs 1.40 in debt for every Rs 1.00 of its own equity, according to the ICRA. The promoter group is also planning to infuse Rs 125 crore via compulsorily convertible preference shares to support future growth. Notably, Zerodha Capital has nil NPAs since its inception. ICRA has kept Zerodha Capital’s credit rating steady at AA- (Stable)/A1+ and gave the same high rating to its new Rs 100 crore short-term borrowing plan. While ICRA pointed out that the company is still small and relies on a limited set of lenders, it was reassured by Zerodha Capital’s strong backing from the Zerodha Group and its careful approach to lending. Founded in 2021, Zerodha Capital aims to deepen its credit play within the securities ecosystem. However, its future performance remains tethered to market sentiment and regulatory shifts, especially as retail F&O activity—the group’s mainstay—faces tightening norms. Zerodha Capital’s parent company, Zerodha Broking Limited, has reported a net profit of Rs 5,496 crore in FY24, with a return on net worth of 56% during the same period.

Chingari’s operating scale declines 53% in FY25

EntrackrEntrackr · 29d ago
Chingari’s operating scale declines 53% in FY25
Medial

Chingari’s operating scale declines 53% in FY25 After pivoting to a paid private live streaming model in June 2023 from its short video format, Chingari’s operating revenue fell 53% YoY in FY25, while losses narrowed 62% to Rs 8.8 crore. Chingari saw its business shrink after pivoting to a paid, private live streaming model in June 2023, moving away from its short video-led approach. The platform posted a 53% year-on-year drop in operating revenue in FY25, while losses declined 62% to Rs 8.8 crore. For background, in FY23, Chingari reported Rs 113 crore revenue from operations with a net loss of Rs 42 crore. Chingari’s revenue from operations fell over 52% to Rs 44 crore in FY25 from Rs 92 crore in FY24, according to its consolidated financial statements sourced from Registrar of Companies (RoC). Founded in November 2018, Chingari operated as a TikTok-style short video platform until its pivot in June 2023. Since then, it has repositioned itself as a paid, private live streaming platform. It enables 1-on-1 private calls between creators and users, where users purchase virtual “diamonds” to access these personal interactions. As per the company’s guidelines, the platform prohibits nudity and sexually explicit content. Revenue from domestic users accounted for 28% of the total at Rs 12.2 crore, while the remaining 72% came from export revenue at Rs 31.3 crore, which indicates revenue from foreign users. On the cost side, advertising cum promotional expenses were the largest expense centre for the firm, but they declined 46% to Rs 23.75 crore in FY25 from Rs 43.65 crore in FY24. Employee benefits expenses also fell 58% year-on-year to Rs 13.4 crore. Information technology expenses rose 8.4% to Rs 9 crore in the last fiscal, while other overheads, including rent, legal and professional fees, and travel costs, took total expenditure to Rs 52.4 crore. In line with the decline in operating revenue, overall expenditure fell 55% to Rs 52.4 crore in FY25 from Rs 116.3 crore in FY24, which helped the company narrow its losses to Rs 8.8 crore from Rs 23.3 crore in FY24. On a unit basis, the Bengaluru-based company spent Rs 1.2 to earn a single rupee of operating revenue in FY25. At the end of March 2025, Chingari reported Rs 8 crore in current assets, which includes Rs 2.2 crore in cash and bank balance. According to media reports, during its pivot, Chingari faced allegations that it was building an adult entertainment app through its paid 1-on-1 video call feature, which could involve explicit content. However, the Bengaluru-based company denied these claims.

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