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Groww hits 13 Mn active users in December, Zerodha's growth slows

EntrackrEntrackr · 6m ago
Groww hits 13 Mn active users in December, Zerodha's growth slows
Medial

Groww hits 13 Mn active users in December, Zerodha's growth slows Groww achieved a significant milestone of 13.16 million active clients in December 2024, translating to a 26.59% market share, according to the latest data from the National Stock Exchange (NSE). The Indian stockbroking industry continues to witness intense competition, with Bengaluru-based fintech unicorn Groww solidifying its dominance. This represents a 2.18% month-on-month (MoM) growth, maintaining its leadership in the sector. Zerodha retained the second position with 8.12 million active users and a 16.41% market share, although its user base shrank marginally by 0.06% MoM. Angel One, ranked third, continues to gain traction, adding 123,018 new users (1.61%) in December for a total of 7.75 million active clients and a 15.67% market share. The combined market share of the top three brokers—Groww, Zerodha, and Angel One—now stands at a commanding 58.67%. Upstox maintained its fourth position with 2.89 million active users and a 5.83% market share followed by ICICIdirect (1.95 million), Kotak Securities (1.5 million), and HDFC Securities (1.42 million). SBI Securities held the ninth spot with 0.98 million, Dhan ranked tenth with 0.93 million active clients. Rising contenders INDmoney remained in the 11th spot with 0.79 million active clients with 8.13% month-on-month growth. Share.Market, PhonePe’s brokerage platform, recorded the highest monthly growth of 8.97%, reaching 0.32 million active users. Last month, INDmoney overtook Paytm Money and ShareKhan in terms of active clients and captured the eleventh spot. In contrast, several players, including Paytm Money (-1.27%), ShareKhan (-0.55%), and Mirae Asset (-1.42%), saw declines in their active user base. Notably, 5paisa experienced the steepest drop among the top brokers, losing 3.35% of its active clients in December. By December 2024, the Indian stockbroking industry is flourishing with both traditional and digital-first firms. Groww remains a leader in attracting users, while new competitors like Share.Market, INDmoney, and Dhan are creating a dynamic and competitive market.

Groww expands lead over Zerodha with 12.59 Mn active users in October

EntrackrEntrackr · 8m ago
Groww expands lead over Zerodha with 12.59 Mn active users in October
Medial

Bengaluru-based stock broker Groww has surpassed the 1.25 crore (12.59 million) mark in active traders in October, driven by the addition of around 3.5 lakh users in a single month, according to data from the National Stock Exchange (NSE). Zerodha, Groww’s closest competitor, had approximately 80.6 lakh (8.06 million) active investors as of last month. Groww overtook Zerodha in October last year and has held the top position ever since. As per the NSE’s data, Groww has nearly doubled its user base over the past year, whereas Zerodha added just 15 lakh new users. Angel One, the third-largest stockbroker, has 75 lakh (7.53 million) active users and may surpass Zerodha in the coming months. Upstox ranked fourth, had 28.52 lakh (2.85 million) users as of last month. ICICI Direct is the fifth largest player in this space with 19.3 lakh active users (1.93 million). Dhan, launched by former Paytm Money executive Pravin Jadhav, had 8.49 lakh (0.84 million) users as of October. Dhan entered the top 10 list of stockbroking apps in India in August this year, replacing Paytm Money. INDmoney and PhonePe's Share.Market are the new entrants in the top 20 list with 6.7 lakh (0.67 million) and 2.69 lakh (0.26 million) respectively. In terms of scale, Zerodha had the highest revenue in FY24 at Rs 8,370 crore, followed by Angel One, which reported Rs 4,272 crore in revenue for the last fiscal year. Nithin Kamath’s Zerodha reported a profit of Rs 2,907 crore, while Angel One’s profits exceeded Rs 1,125 crore in FY24. Groww’s revenue from operations surged to Rs 3,145 crore in FY24. The Lalit Keshre-led company recorded a net loss of Rs 805 crore in FY24, primarily due to a one-time tax payment of Rs 1,340 crore for relocating its domicile to India. Despite this, the firm remained operationally profitable. Upstox, which posted over Rs 1,000 crore in revenue in FY23, has yet to file its annual report for FY24.

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