Zerodha Valued At $3.6 Bn, Reveals CEO Nithin Kamath
Zerodha’s net profit jumped 39 per cent to Rs 2,907 crore in FY23 from Rs 2,094.3 crore in FY22
Nithin Kamath, founder of Zerodha, recently mentioned on X (formerly Twitter) that Zerodha's value in recent buybacks is around Rs 30,000 crore, which is approximately USD 3.6 billion. The bootstrapped startup has recorded a total income of Rs 6,875 crore in the fiscal year (FY) 2023, showing a 38 per cent increase compared to the previous year's income of Rs 4,964 crore.
On the backdrop of strong growth in business, Zerodha’s net profit jumped 39 per cent to Rs 2,907 crore in FY23 from Rs 2,094.3 crore in FY22.
Commenting on all the speculations around Zerodha’s valuation, Nithin Kamath, the Co-founder and CEO of the Bengaluru-based stock broking platform, on Thursday stated that the firm is valued at Rs 30,000 crore, or about USD 3.6 billion.
Kamath said, “So if 10 to 15 per cent is the long-term growth, we value ourselves in the range of 10 to 15 times our earnings (PAT). At the lower end when near bull market highs. This is how we have been valuing ourselves for all buybacks (founders and team) for a while now. So about Rs 30,000 crores and not the Rs 1 lakh to Rs 2 lakh crore some folks online were guesstimating."
Zerodha, earns money by selling brokerage services, onboarding new users, and offering premium technology products like the Kite Connect API. Zerodha's net profit increased by 39 per cent to Rs 2,907 crores in FY22 from Rs 2,094.3 crore.
Around The World