India's largest broker Zerodha posts ₹4,283cr FY26 profit, MTF aids
Zerodha, India's largest broker by total AUM, posted a small bump in profit this year: ₹4,283 crore for FY26, up just a bit from last year.
Even though the market wasn't buzzing and trading fees dipped, Zerodha's new Margin Trading Facility (MTF), launched in late 2024, helped keep things steady.
Zerodha MTF contributes 10% revenue
MTF now brings in 10% of Zerodha's revenue, with users borrowing ₹6,000 crore out of a ₹9,000 crore book.
While fewer people are opening new accounts due to weak markets, Zerodha's share of retail AUM continues to grow, with around ₹1 lakh crore of this AUM coming from customers acquired from IL&FS.
Co-founder and CEO Nithin Kamath flagged some risks around high borrowing, but says the company is looking to expand into asset management and insurance while keeping its team small.