Billionbrains Garage Ventures
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Billionbrains Garage Ventures (GROWW) investor relations material

Billionbrains Garage Ventures Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary14 Jan, 2026

Executive summary

  • Asset management business partnership with State Street aims to accelerate growth, bring global practices, and expand product offerings for Indian and foreign investors, with up to 23% dilution of Groww AMC's share capital.

  • Wealth management integration is ongoing, targeting both existing and affluent customers, with synergies expected as integration completes.

  • Approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.

  • Completed an IPO in November 2025, listing on NSE and BSE, with a fresh issue and offer for sale totaling 663.2 million shares at INR 100 per share.

  • Board approved further acquisition of shares in Groww Asset Management Limited (Groww AMC), a wholly owned subsidiary.

Financial highlights

  • Consolidated revenue from operations for Q3 FY26 was INR 12,160.72 million, up from INR 9,745.35 million in Q3 FY25.

  • Consolidated net profit for Q3 FY26 was INR 5,469.33 million, compared to INR 4,713.39 million in Q3 FY25.

  • Commodities now contribute 4% of topline, with over 100,000 customers in this segment.

  • MTF (margin trading facility) contributes 6% to total revenue, with consistent quarterly growth of approximately INR 600 crores.

  • EBITDA margin has expanded to over 63% (excluding Fisdom), driven by revenue growth and a largely fixed cost base.

Outlook and guidance

  • The company expects to complete the strategic transaction with State Street Global Advisors within six months, subject to regulatory approvals.

  • Asset management business is expected to scale with State Street partnership, focusing on AUM and user base growth, including passive and global products.

  • Wealth management will continue to scale as integration progresses, with new products and services for HNIs and affluent customers.

  • No dividend expected in the near future as the company remains in a high-growth investment phase.

  • The acquisition of additional shares in Groww AMC is aimed at supporting working capital and growth opportunities.

State Street partnership: key strategic advantages?
Wealth management: Monetization strategy for Groww users?
Beyond IPOs, what sustains transaction volume?
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Next Billionbrains Garage Ventures earnings date

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Q4 25/2629 Apr, 2026
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Q4 25/2629 Apr, 2026

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