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Informist, Monday, Apr. 20, 2026

 

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--Billionbrains Garage: Focus on scaling up of wealth to continue 
--CONTEXT: Billionbrains Garage mgmt comments in post-earnings analyst call 
--Billionbrains Garage: To compound business, grow marketshare going ahead 
--Billionbrains: Focus on scaling up of wealth for customers to continue 
--Billionbrains: Co's mkt share up due to new customers in derivatives mkt 
--Billionbrains: Transacting customers rose to 1.7 mln Q4 from 1.4 mln Q3 
--Billionbrains: Lack of FII participation has hit equity market growth 
--Billionbrains: Need to wait few quarters for growth cycle in equity mkts

 

By Ashutosh Pati and Sunil Raghu

 

MUMBAI/AHMEDABAD – While the Indian equity market isn't close to its bottom, a few more quarters are needed for the "next cycle of growth" to settle in, Billionbrains Garage Ventures Ltd.'s management told analysts in a post-earnings conference call Monday. Lack of participation of foreign institutional investors in the equity market has hurt growth and a resumption of these flows will signal the next growth cycle, it said.

 

"I think we are waiting for that kind of clear signal to be there where people have started or FIIs have started putting money in India. I think that can be a good indicator to say that now things are from the positive cycle but early as of now, it does not look like it is obvious," said a top official of Billionbrains Garage Ventures, the parent company of online investment and trading application Groww.

 

While the equity market has not performed well since September 2024, the assets under management of customers haven't changed much. This is because systematic investment plans have become one of the largest modes of AUM accomodation, observed both in mutual funds and exchange-traded funds, the management said. However, on a marked-to-market basis, there has been a dip in AUMs, it said, adding that the way customers are introduced to the capital market has shifted in the last one and a half years.

 

"...the acquisition funnel has shifted more towards mutual funds and ETFs (exchange-traded funds) as a product. And hence, the way customer actually getting introduced to the capital market has become slightly different," it said, adding that most of the "pain' seen in the market in March has reversed and people are still making money.

 

The expansion in Groww's market share in the March quarter was because of two reasons, the first being new customers in the derivatives market, the management said. The second reason was that the previous quarter had a lot of volatility and saw a dip in trading, but customers started trading more in the March quarter. The company's transacting customers rose to 1.7 million in the March quarter from 1.4 million in the previous one. "This shows that retention overall is high on the platform, which helps us recover whenever the customer is interested in any other product," it said.

 

 

Groww's average revenue per user is back to pre-November 2024 levels, as trading in futures and options segment continues to fall. This slump was offset by growth in the commodities and margin trading facility segment. The company's focus remains on scaling up wealth for its customers. "...we'll continue compounding our existing businesses, grow market share, which we have been continuously doing," they said. 

 

Billionbrains Garage Ventures reportd a consolidated net profit of INR 6.86 billion for the March quarter on revenue of INR 15.05 billion. On Monday, shares of the company closed 1.1% lower at INR 196.11 on the National Stock Exchange.  End

 

Edited by Avishek Dutta

 

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