Squashing all speculations around Zerodha’s valuation, Nithin Kamath, the cofounder and CEO of the Bengaluru-based stock broking platform, on Thursday said the firm is valued at INR 30,000 Cr, or about $3.6 Bn.
“So if 10 to 15% 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 ~Rs 30,000 crores and not the Rs 1 lakh to Rs 2 lakh crores some folks online were guesstimating,” Kamath wrote in a post on X (formerly Twitter).
Earlier this week, Zerodha said that it had recorded a total income of INR 6,875 Cr during the financial year 2022-23 (FY23), an increase of 38% from INR 4,964 Cr in the previous fiscal year.
The Bengaluru-based startup generates revenue from brokerage sales, user onboarding collections, and sale of its premium tech products such as Kite Connect API. On the back of the strong growth in business, Zerodha’s net profit jumped 39% to INR 2,907 Cr from INR 2,094.3 Cr in FY22.
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