GROWWBillionbrains Garage Ventures LimitedNSE:GROWWTechnicalAnalystSucritGroww Ltd. (CMP ₹216.00, NSE: GROWW) The SmartWay Research Desk | 16 July 2026 Groww, headquartered in Bengaluru, is one of India’s leading digital investment and financial services platforms, incorporated in 2016. It offers stockbroking, mutual funds, ETFs, fixed deposits, and digital wealth management, serving over 40 million retail investors. Promoter Holding (Mar 2026): ~30% (no pledges) FY22–FY26 Snapshot Revenue Growth: FY26 revenue ₹1,842 Cr vs ₹1,512 Cr in FY25 (+21.8% YoY). → Good Net Profit: FY26 PAT ₹212 Cr vs ₹168 Cr in FY25 (+26.2% YoY). → Good Operating Margin: FY26 EBITDA ₹412 Cr, margin 22.4% vs 21.0% last year (+140 bps). → Good Equity Capital: Stable, face value ₹10. → Good Dividend Policy: No dividend declared; reinvestment in growth. → Neutral Asset Building: Investments in AI‑driven advisory, trading infrastructure, and compliance systems. → Good Sales: Strong demand from retail stockbroking and mutual fund SIPs. → Good Expense: Marketing and tech infra costs remain high. → Neutral/Good EPS: FY26 EPS ₹4.25 vs ₹3.40 last year (+25%). → Good Institutional Interest & Ownership Trends (Mar 2026) Promoter Holding: ~30% (no pledges) FII Holding: 28.12% DII Holding: 22.34% Retail & Others: 19.54% Strategic Moves & Innovations Expansion in direct equity trading and derivatives. Focus on digital wealth advisory and robo‑advisory tools. Partnerships with banks and fintechs for distribution. Diversification into fixed deposits and insurance products. Cash Flow & Balance Sheet Strength Market cap ~₹20,200 Cr. Debt‑to‑equity ratio ~0.25 (low leverage). Book value per share ₹42.10; P/B ~5.1. EPS (TTM) ₹4.25; P/E ~50.8. Risk Factors High P/E ratio ~50.8, indicating premium valuations. Dependence on retail investor activity and market cycles. Exposure to regulatory changes in SEBI norms. Competition from Zerodha, Upstox, and Paytm Money. Investor Takeaway Groww has delivered strong FY26 performance, supported by retail participation, SIP growth, and digital expansion. With institutional backing, reinvestment in technology, and leadership in fintech broking, Groww remains a premium play on India’s retail investing boom. At CMP ₹216.00, valuations are expensive (P/E ~50.8, P/B ~5.1), reflecting growth expectations but also sectoral risks.