Groww Share Price Surges 10% to Record High on 122% Q4 Profit Hike

Groww Posts Strong Q4 Performance, Shares Reach Record High

Shares of Billionbrains Garage Ventures, the parent company of online brokerage Groww, surged 10% to a record high of ₹216 on the Bombay Stock Exchange (BSE) on Tuesday, following a strong performance in the March 2026 quarter (Q4FY26).

The brokerage firm reported a significant rise in consolidated net profit, increasing 122% year-over-year (YoY) to ₹686 crore. Revenue from operations also grew 87% YoY to ₹1,505 crore, while Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged 142% YoY to ₹939 crore. The improvement in profitability was driven by faster revenue growth compared to largely fixed costs, highlighting operating leverage across segments.

Growth Highlights

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The company's total number of transacting users rose 25% YoY to 21.6 million, marking an active user base of 16.7 million. Customer assets on the platform increased 36% YoY to ₹3 lakh crore, although they saw a slight sequential dip due to mark-to-market losses during the quarter. Net inflows remained strong at ₹25,000 crore.

In its letter to shareholders, the company informed that the contribution of equity derivatives to overall revenue increased from 53.5% to 54.6% in Q4. Newly launched product segments, such as Margin Trading Facility (MTF) and commodities, witnessed strong traction, with their share increasing meaningfully, driven by higher penetration and user adoption.

Brokerage Views

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Motilal Oswal reiterated its 'Buy' rating and raised the target price to ₹235, indicating an upside of around 20%. The brokerage said Groww continues to deliver strong revenue growth driven by increasing user adoption and solid activation levels. It added that the core broking business is gaining market share across segments, supported by new offerings such as margin trading facility and commodities.

JM Financial, on the other hand, maintained a 'Sell' rating with a target price of ₹150, implying a downside of 23.5%. The brokerage remains positive on the company's growth outlook, estimating EPS growth of 54% and 30% for FY27 and FY28, respectively. However, it noted that current valuations at 38x and 29x FY27E and FY28E EPS, respectively, are ahead of any meaningful shift toward more stable, recurring revenue streams.