Groww has once again emerged as the biggest winner in India’s online broking industry. At a time when most brokerage platforms are losing active investors and facing market challenges, Groww has continued to add new users, deliver strong profits, and attract interest from global investors.
The company has been in the spotlight in recent weeks due to its strong financial performance, a major investment by Goldman Sachs, and its ability to grow even as the overall industry slows down.
Groww Gains Users While Other Brokers Struggle
The Indian retail broking industry faced a difficult month in May 2026. Industry data showed that the total number of active investors fell by around 1.71 lakh compared to the previous month, bringing the overall active client base down to 45.59 million.
Several leading brokers reported losses in active users during the month. Zerodha lost nearly 37,000 active clients, Angel One saw a decline of almost 60,000 users, while Upstox lost more than 38,000 active clients.
Groww, however, moved in the opposite direction. The platform added nearly 27,600 new active clients in May, making it one of the few major brokers to report growth during the period.
This pushed Groww’s active client base to 13.06 million and helped the company strengthen its position as India’s largest broker. Its market share increased to 28.64%, widening the gap between itself and its competitors.
Investor confidence in the company was also visible in the stock market. On June 4, 2026, Goldman Sachs Bank Europe SE bought 1.13 crore shares of Groww through an open market transaction. The deal was worth around ₹210.42 crore and was carried out at an average price of ₹185.50 per share.
The shares were sold by Friale Fund IV LLC, an existing investor in the company. Following the purchase, Goldman Sachs acquired a 0.18% stake in Groww. The market reacted positively, and the company’s shares rose more than 4% during intraday trading.
Strong Financial Results Boost Confidence
Groww’s latest financial results show that the company is not only growing its user base but also generating strong profits.
For the quarter ended March 2026, the company reported a profit after tax (PAT) of ₹686 crore. This was more than double the ₹388.2 crore profit reported in the same quarter last year.
For the full financial year FY26, Groww posted a net profit of ₹1,825.75 crore, highlighting its strong financial position.
Revenue from operations also grew sharply. The company reported revenue of ₹1,535.5 crore during the quarter, an increase of 81% compared to the previous year. EBITDA rose 142% year-on-year to ₹938.7 crore, showing improved operational efficiency.
Groww also increased its market share across several investment categories. Its mutual fund market share reached 14%, while its share in the equity segment rose to 15.7%. The derivatives business saw particularly strong growth, with market share nearly doubling to 10.6%.
The company has also been expanding beyond stockbroking. Through its NBFC arm, Groww Creditserv Technology Private Limited, it has built a loan book worth ₹1,396 crore as of December 2025.
Most of this lending portfolio consists of unsecured personal loans, while loans against mutual funds make up a smaller portion. Since the company offers these products to its existing users, customer acquisition costs remain low, helping the lending business report a profit of ₹17 crore during the first nine months of FY26.
Regulatory Challenges and Stake Sales Remain Key Watch Areas
While Groww continues to perform strongly, it is also facing a changing regulatory environment.
The Reserve Bank of India introduced new lending rules for capital market intermediaries from April 1, 2026. Under the revised norms, intraday funding now requires 100% collateral instead of 50%. Margin Trading Facility (MTF) funding must also be backed by full collateral, with at least half of it held in cash or cash-equivalent assets.
At the same time, SEBI has proposed new rules that could link a broker’s minimum net worth requirement to the number of active clients and the amount of client funds it manages. If implemented, these rules may require large brokers such as Groww to maintain higher capital levels.
Another major development came after the expiry of the company’s six-month IPO lock-in period. Early investors including Peak XV Partners, Ribbit Capital, and Y Combinator sold a combined 4.71% stake worth around ₹5,326 crore through block deals.
Groww’s founders and promoter-linked trusts also sold a small portion of their holdings during May. These transactions were expected after the lock-in period ended, but they attracted attention because of the large volume of shares that became eligible for trading.
Despite these challenges, Groww remains in a strong position. The company continues to add users, deliver record profits, attract global investors, and expand into new business areas. Its recent performance shows why it remains one of the leading names in India’s growing fintech and investment ecosystem.