Billionbrains Garage Ventures Ltd, the parent company of Groww, has announced its Q4FY26 reports. The largest stockbroker in the country has delivered a strong quarterly performance, with net profit increasing over two-fold. Along with a sharp increase in margins, the platform also added several new users, solidifying its position as a market leader. This guide aims to break down the Groww Q4FY26 Results and analyse its key details to understand the viability of the company.
Groww Q4 Overview
On 20 April 2026, Billionbrains Garage Ventures Ltd, the parent company of Groww, declared the Q4FY26 report. Despite the backdrop of volatile markets shaped by geopolitical uncertainties, the reports highlighted an underlying momentum that the business seems to be gaining.
With a 6% Quarter-on-Quarter growth and 25% Year-on-Year growth, Groww recorded 21.6 million total transacting users, while the number of active users is at 16.7 million. Thus, the total income also showed a significant growth of 22% QoQ and reached ₹15,355 million in Q4FY26. Both the YoY and QoQ growth of EBITDA are even more substantial, as they both grew 142% and 30%, respectively.
Groww Q4 Financial Results
The table below highlights the key quarterly growth parameters of the Groww Q4FY26 results.
| Parameter | Q4FY25 (₹ Million) | Q4FY26 (₹ Million) | Growth (%) |
| Revenue from operations | 8,010.06 | 15,053.67 | 87.93 |
| Total Income | 8,495.72 | 15,355.35 | 80.74 |
| EBITDA | 3,882 | 9,387 | 141.80 |
| PAT | 3,090.89 | 6,863.54 | 122.05 |
| Basic EPS (₹) | 0.57 | 1.11 | 94.73 |
| Diluted EPS (₹) | 0.54 | 1.09 | 101.85 |
| Total Transacting Users (million) | 17.31 | 21.64 | 25.01 |
| Active Users (million) | 13.94 | 16.71 | 19.87 |
Groww Revenue & Profit
The Revenue from Operations grew 22% from ₹12,611 million in Q3FY26 to ₹15,355 million in Q4FY26, while the growth rate from Q4FY25 exceeded 80%. Compared to this, the rise in cost to grow, cost to serve, and cost to operate from Q4FY25 to Q4FY26 was far less, as shown in the table below.
| Parameter | Q4FY25 (₹ million) | Q4FY26 (₹ million) | Growth (%) |
| Cost to grow | 969 | 1,252 | 29.20 |
| Cost to serve | 1,476 | 1,567 | 6.16 |
| Cost to operate | 1,504 | 2,162 | 23.75 |
Therefore, EBITDA showed an exponential growth of 141.80% from Q4FY25 to Q4FY26. The profit after tax grew 122.05% in the same tenure, marking a significant rise in revenue and overall profitability.
Groww EPS (Earnings Per Share)
The Earnings Per Share growth explains a strong forward earnings momentum. Both basic and diluted EPS almost doubled their Q4FY25 numbers. Basic EPS reached ₹1.11 in Q4FY26 from 0.57 in Q4FY25, marking a 94.73% growth. Diluted EPS also grew 101.85%. This shows that the growth in profitability and revenue is also translated into shareholder returns from their investment in the company. JM Financial anticipates the EPS growth to continue with 54% and 30% for FY27 and FY28, respectively.
Groww Strong Capital Position
The total current assets stand at ₹1,43,365.53 million as per the Groww Q4FY26 results, demonstrating adequate liquidity for operations needs and growth. On the other hand, as of 24 April 2026, the Market Capitalisation of the company is at ₹1,36,733 crore, placing it well above its peers like Motilal Oswal, 360 One, Angel One, etc.
Total equity has grown from ₹48,554.45 million as of 31 March 2025 to ₹96,513.55 million as of 31 March 2026, recording over double growth. The Return on Capital Employed stands at 37% as of March 2026, indicating significant returns in tandem with capital growth.
Groww Asset Quality
Not only an overall growth in its total assets, but it has also recorded a rise in market share of its major products. From 12.3% in Q4FY25, market share in mutual funds reached 14.0% in Q4FY26. Similarly, stocks grew from 12.1% to 15.7%, equity derivatives from 6.8% to 10.6%, and the margin trading facility from 0.9% to 2.7%.
Another key component of Assets is its user base. Along with a growth in Total Transacting Users and Active Users, the number of NSE Active Clients also grew, from 12.92 million to 12.94 million.
Groww Dividend Announcement
Billionbrains Garage Ventures Ltd., or Groww, has not announced any dividend in its Q4FY26 reports. This is in line with the past trends of the company.
Segment Performance
Let us compare the Groww Q4FY26 results with those of its peer Angel One to understand where the company stands in the market.
| Parameter | Groww Q4FY26 (₹ million) | Angel One Q4FY26 (₹ million) |
| Revenue from operations | 15,053.67 | 14,594.22 |
| Profit after tax | 6,863.54 | 3,202.37 |
| Expenses | 5,991.79 | 10,273.36 |
| Basic EPS | 1.11 | 3.52 |
| Diluted EPS | 1.09 | 3.44 |
Although the Revenue from operations of both companies is near one another, the total expense of Angel One is almost double that of Groww. This is why, despite comparable revenue from operations, the profit after tax of Groww is almost double that of Angel One.
Market Reaction
The positive Groww Q4FY26 results have led to a positive market reaction. Understanding the market reaction to quarterly earnings is important to decode market sentiments and take optimal investment decisions.
Groww Stock Price Movement
Post the Q4FY26 report, the Billionbrains Garage Ventures share price hit a record high of ₹216 on BSE, marking a 10% rise. The rally continued as the stock gained 14% over the consecutive three trading sessions, and on Thursday, 23 January 2026, reached an intraday high of ₹222.80, marking more than 2% growth. This continued positive momentum in the market post the Q4FY26 results indicates a positive market reception. This becomes crucial as concerns over geopolitical tensions-backed volatility continue to rock markets from time to time.
However, before making any investment decision, an investor should check the latest company stock valuation. Click here to view the current Billionbrains Garage Ventures share price.
Investment Implications
The Groww Q4FY26 results revitalise the growing position of the company as a market leader and reiterate the completion of the conglomerate from a high-growth startup to a compounding growth company. Let us explore the long-term and short-term prospects of the company.
Long-Term Outlook
Groww is among the key platforms of the growing and modernising Indian investment landscape. Key factors that might play a role in its long-term growth are discussed below.
- The retail investor participation in the country is growing, yet remains at a nascent stage. In such a scenario, Groww, with its already strong user base and brand recall, can capture greater user numbers as the retail market grows.
- As revenue grows faster than fixed costs, PAT margins can continue to grow faster with time.
- Diversification of revenue across different investment products can reduce the risk of volatility-induced user participation reduction. The growing contribution of MTF, commodities, mutual funds, etc., indicates the fruition of this trend.
- Financial reports forecast a growing EPS in 2027 and 2028, demonstrating continued confidence in company fundamentals.
Short-Term Trading Opportunities
The Billionbrains Garage Venture stock has already had a strong rally post its Q4FY26 reports. The company’s share, since its IPO, has delivered a rising trend. Currently, as of 24 April 2026, the stock PE is at 65.7, while that of its peers is considerably lower. For instance, 360 One is at 34.63, and the PE of Angel One is 31.31. While this might be due to the strong company position, it still poses a risk of overvaluation.
Final Thoughts
The parent company of Groww, Billionbrains Garage Ventures Ltd., has demonstrated a resilient and strong performance in its Q4FY26 results. Both revenue from operations and net profit have shown a significant rise, while the user base is growing and remains substantial. The market reaction to the reports was positive, as stock prices continued their rally for three consecutive trading sessions. However, the high stock PE creates a possibility of overvaluation, requiring optimal investor analysis before investing. However, the long-term prospects of the company remain hopeful as the retail participation continues to grow in the Indian investment landscape.
