PESB research view: HoldStock
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PESB recommendation · Stock
₹205.98▲ 9.67 (+4.93%) todayNSE · as of 3 Nov 2026, 5:30 am
Recommended on 17 Mar 2026 by Aman Bansal
Our recommendation read against today's market data.
Billionbrains Garage Ventures Limited, operating as Groww, is India's largest and fastest growing direct-to-customer digital investment platform by active users on NSE. The company has achieved a significant milestone as the only investment app in India to cross 100 million cumulative downloads. Groww enables customers to invest and trade across multiple financial products including stocks, derivatives, bonds, mutual funds, and also provides margin trading facility and personal loans.
Groww is well-positioned to sustain strong growth, with revenue/EBITDA/PAT expected to register a CAGR of 34%/39%/42% over FY26-28E, driven by continued market share gains, higher MTF penetration, and the scaling of its wealth management and AMC businesses following the Fisdom and State Street integrations. The upcoming US investing platform further expands the company's addressable market, creating an additional long-term growth lever. Supported by its AI-led technology platform, scalable operating model, market leadership and expanding product ecosystem, Groww remains well placed to deliver sustained margin expansion and profitable growth over the long term.
Research by Pune E-Stock Broking Ltd., SEBI Research Analyst Reg. No. INH000018197. Investments in the securities market are subject to market risks; read all related documents carefully before investing. Past performance is not indicative of future returns.
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