{"id":74667,"date":"2026-04-21T12:22:30","date_gmt":"2026-04-21T06:52:30","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=74667"},"modified":"2026-04-21T12:22:31","modified_gmt":"2026-04-21T06:52:31","slug":"billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/","title":{"rendered":"Billionbrains Garage Ventures (Groww) Q4 FY26 Results: Net Profit Surges 122% to \u20b9686 Crore, Revenue Nearly Doubles \u2014 EBITDA Margin Hits Record 66.9%"},"content":{"rendered":"<p>Billionbrains Garage Ventures Limited \u2014 the parent company of India&#8217;s largest discount brokerage platform Groww \u2014 reported one of its strongest quarterly performances on April 20, 2026. Consolidated Q4 FY26 net profit surged 122.05% year-on-year to \u20b9686.35 crore from \u20b9309.09 crore in Q4 FY25, and rose 25% sequentially from \u20b9547 crore in Q3 FY26. Revenue from operations jumped 87.93% YoY to \u20b91,505.37 crore. EBITDA more than doubled YoY by 141.8% to \u20b9939 crore, with the platform EBITDA margin reaching a record 66.93%.<\/p><p>For the full financial year FY26, revenue from operations grew to \u20b94,644.6 crore from \u20b93,901.7 crore in FY25 (+19%), while net profit rose to \u20b92,083 crore from \u20b91,824 crore (+14.2%). Total income for FY26 reached \u20b94,815.9 crore, with profit before tax at \u20b92,821 crore. The company&#8217;s user metrics remained strong \u2014 active users grew 19.86% YoY and 4.7% QoQ, despite the broader market correction driven by West Asia geopolitical tensions in early 2026. Total customer assets rose 34.7% YoY (though marginally dipping 1.1% QoQ due to mark-to-market effects from the market correction).<\/p><p>Track Groww on <a href=\"https:\/\/univest.in\/user\/log-in\">Univest<\/a>.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#Billionbrains_Groww_Q4_FY26_Financial_Results\" title=\"Billionbrains Groww Q4 FY26 Financial Results\">Billionbrains Groww Q4 FY26 Financial Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#What_Drove_the_122_PAT_Jump_Platform_Economics_at_Scale\" title=\"What Drove the 122% PAT Jump: Platform Economics at Scale\">What Drove the 122% PAT Jump: Platform Economics at Scale<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#Valuation_Context_%E2%82%B9123_Lakh_Crore_Market_Cap\" title=\"Valuation Context: \u20b91.23 Lakh Crore Market Cap\">Valuation Context: \u20b91.23 Lakh Crore Market Cap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#1_What_was_Billionbrains_Groww_Q4_FY26_net_profit\" title=\"1. What was Billionbrains Groww Q4 FY26 net profit?\">1. What was Billionbrains Groww Q4 FY26 net profit?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#2_What_is_Growws_Q4_FY26_revenue\" title=\"2. What is Groww&#8217;s Q4 FY26 revenue?\">2. What is Groww&#8217;s Q4 FY26 revenue?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#3_What_is_Growws_EBITDA_margin\" title=\"3. What is Groww&#8217;s EBITDA margin?\">3. What is Groww&#8217;s EBITDA margin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#4_What_is_Billionbrains_Groww_FY26_full-year_PAT\" title=\"4. What is Billionbrains Groww FY26 full-year PAT?\">4. What is Billionbrains Groww FY26 full-year PAT?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#5_How_many_active_users_does_Groww_have\" title=\"5. How many active users does Groww have?\">5. How many active users does Groww have?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#6_Did_Groww_declare_a_dividend\" title=\"6. Did Groww declare a dividend?\">6. Did Groww declare a dividend?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#7_When_do_TCS_and_Infosys_announce_Q4_results\" title=\"7. When do TCS and Infosys announce Q4 results?\">7. When do TCS and Infosys announce Q4 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#8_Is_Groww_a_good_investment\" title=\"8. Is Groww a good investment?\">8. Is Groww a good investment?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/billionbrains-groww-q4-fy26-results-profit-686-crore-revenue-1505-crore\/#Recent_Article\" title=\"Recent Article\">Recent Article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Billionbrains_Groww_Q4_FY26_Financial_Results\"><\/span><strong>Billionbrains Groww Q4 FY26 Financial Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Metric<\/strong><\/td><td><strong>Q3 FY26<\/strong><\/td><td><strong>Q4 FY25 (Base)<\/strong><\/td><td><strong>Q4 FY26 (Actual)<\/strong><\/td><\/tr><tr><td>Revenue from Ops<\/td><td>\u20b91,216 Cr<\/td><td>\u20b9801 Cr<\/td><td>\u20b91,505 Cr (+87.9% YoY)<\/td><\/tr><tr><td>Total Income<\/td><td>\u2014<\/td><td>\u20b9850 Cr<\/td><td>\u20b91,536 Cr (+80.7% YoY)<\/td><\/tr><tr><td>EBITDA<\/td><td>\u2014<\/td><td>\u20b9388 Cr<\/td><td>\u20b9939 Cr (+141.8% YoY)<\/td><\/tr><tr><td>EBITDA Margin<\/td><td>\u2014<\/td><td>~48%<\/td><td>66.93%<\/td><\/tr><tr><td>Net Profit (PAT)<\/td><td>\u20b9547 Cr<\/td><td>\u20b9309 Cr<\/td><td>\u20b9686 Cr (+122.1% YoY)<\/td><\/tr><tr><td>FY26 Revenue<\/td><td>\u2014<\/td><td>FY25: \u20b93,902 Cr<\/td><td>\u20b94,645 Cr (+19% YoY)<\/td><\/tr><tr><td>FY26 PAT<\/td><td>\u2014<\/td><td>FY25: \u20b91,824 Cr<\/td><td>\u20b92,083 Cr (+14.2% YoY)<\/td><\/tr><tr><td>Active Users (YoY)<\/td><td>\u2014<\/td><td>\u2014<\/td><td>+19.86% YoY, +4.7% QoQ<\/td><\/tr><\/tbody><\/table><\/figure><p>Source: Billionbrains Garage Ventures consolidated Q4 FY26 results, BSE\/NSE filing April 20, 2026; FreePressJournal; BusinessToday.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Drove_the_122_PAT_Jump_Platform_Economics_at_Scale\"><\/span><strong>What Drove the 122% PAT Jump: Platform Economics at Scale<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The 122% PAT growth on 88% revenue growth reflects powerful operating leverage. Groww&#8217;s business model \u2014 a direct-to-customer digital platform with low marginal cost per additional user \u2014 means that as revenue scales, profits grow disproportionately faster. EBITDA margin expansion from approximately 48% in Q4 FY25 to 66.93% in Q4 FY26 demonstrates this leverage in action. The platform invested in technology and customer acquisition upfront; now those investments are yielding revenue without proportional cost increases.<\/p><p>Revenue diversification is also accelerating. The share of equity derivatives in total income declined to 55% in Q4 FY26 from 57% a year ago, while Margin Trading Facility (MTF) and commodity trading contributed more. This is a positive structural shift \u2014 F&amp;O revenue is more volatile (tied to market activity levels), while MTF and commodity are stickier. Product attach rates improved: 72% of active users are on stocks, 60% on mutual funds, and 10% on equity derivatives.<\/p><p>Screen Groww fundamentals on <a href=\"https:\/\/univest.in\/screeners\">Univest Screener<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Valuation_Context_%E2%82%B9123_Lakh_Crore_Market_Cap\"><\/span><strong>Valuation Context: \u20b91.23 Lakh Crore Market Cap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>At a market cap of \u20b91,23,056 crore and FY26 PAT of \u20b92,083 crore, Groww trades at approximately 59x trailing earnings \u2014 a premium typical for high-growth technology platforms. BofA Securities initiated coverage with a Buy rating and \u20b9235 target, projecting EBITDA margins to expand to 67% by FY28 and EPS CAGR of 35% over the next two years. The key risk is market volume dependency \u2014 if equity and F&amp;O volumes decline sustainably (as seen during prolonged market corrections), revenue will compress faster than costs.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Billionbrains Groww&#8217;s Q4 FY26 results represent a landmark quarter \u2014 122% PAT growth, 88% revenue growth, and 66.9% EBITDA margin together confirm that Groww is not just India&#8217;s largest discount broker by users, but increasingly one of the most profitable fintech platforms. The FY26 full-year PAT of \u20b92,083 crore on revenue of \u20b94,645 crore places Groww in a select bracket of Indian fintechs with genuine scale and profitability. The key question for FY27 is whether the platform can maintain 20%+ user growth and expand into higher-ARPU financial products \u2014 wealth management, credit, and insurance \u2014 to reduce F&amp;O revenue concentration.<\/p><p>For more Q4 FY26 results, visit <a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_was_Billionbrains_Groww_Q4_FY26_net_profit\"><\/span><strong>1. What was Billionbrains Groww Q4 FY26 net profit?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>\u20b9686.35 crore \u2014 up 122.05% YoY from \u20b9309.09 crore in Q4 FY25, and up 25% sequentially from \u20b9547 crore in Q3 FY26.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_What_is_Growws_Q4_FY26_revenue\"><\/span><strong>2. What is Groww&#8217;s Q4 FY26 revenue?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Revenue from operations was \u20b91,505.37 crore in Q4 FY26 \u2014 up 87.93% YoY from \u20b9801.01 crore in Q4 FY25.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_What_is_Growws_EBITDA_margin\"><\/span><strong>3. What is Groww&#8217;s EBITDA margin?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The platform EBITDA margin was 66.93% in Q4 FY26 \u2014 a record high, up from approximately 48% in Q4 FY25. EBITDA grew 141.8% YoY to \u20b9939 crore.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_What_is_Billionbrains_Groww_FY26_full-year_PAT\"><\/span><strong>4. What is Billionbrains Groww FY26 full-year PAT?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>FY26 consolidated PAT was \u20b92,083 crore \u2014 up 14.2% from \u20b91,824 crore in FY25. FY26 revenue from operations was \u20b94,644.6 crore (+19% YoY).<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_How_many_active_users_does_Groww_have\"><\/span><strong>5. How many active users does Groww have?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Active users grew 19.86% YoY and 4.7% QoQ in Q4 FY26. Total customer assets rose 34.7% YoY, though declined 1.1% QoQ due to mark-to-market effects from the West Asia-driven market correction.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Did_Groww_declare_a_dividend\"><\/span><strong>6. Did Groww declare a dividend?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>No. Billionbrains Garage Ventures did not declare a dividend for FY26. The company has historically reinvested earnings in platform growth, user acquisition, and new product development.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_When_do_TCS_and_Infosys_announce_Q4_results\"><\/span><strong>7. When do TCS and Infosys announce Q4 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><a href=\"https:\/\/univest.in\/blogs\/tcs-q4-results-2026-date-preview\">TCS declared Q4 FY26 results on April 9, 2026<\/a>. <a href=\"https:\/\/univest.in\/blogs\/infosys-q4-results-2026-date-preview\">Infosys declares Q4 FY26 results on April 23, 2026<\/a>.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Is_Groww_a_good_investment\"><\/span><strong>8. Is Groww a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>At 59x trailing FY26 earnings, Groww is priced for high growth. The profitability track record is exceptional \u2014 67% EBITDA margins are rare globally. Key risks: F&amp;O volume cyclicality, SEBI regulatory changes, and intense competition from Zerodha and Angel One. Consult a SEBI-registered financial advisor before investing.<\/p><p>Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only. All financial data sourced from publicly available NSE\/BSE filings and news sources. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Article\"><\/span><strong>Recent Article<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/vrl-logistics-q4-results-2026-2\">VRL Logistics Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vraj-iron-and-steel-q4-results-2026\">Vraj Iron and Steel Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltas-q4-results-2026\">Voltas Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltamp-transformers-q4-results-2026\">Voltamp Transformers Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vodafone-idea-q4-results-2026\">Vodafone Idea Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Billionbrains Garage Ventures Limited \u2014 the parent company of India&#8217;s largest discount brokerage platform Groww \u2014 reported one of its strongest quarterly performances on April 20, 2026. Consolidated Q4 FY26 net profit surged 122.05% year-on-year to \u20b9686.35 crore from \u20b9309.09 crore in Q4 FY25, and rose 25% sequentially from \u20b9547 crore in Q3 FY26. 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