Zerodha Capital, the lending arm of the Zerodha Group, reported a 44.2% year-on-year increase in total income to Rs 53.5 crore in FY26, while its net profit grew 20.5% to Rs 14.7 crore, driven by the rapid expansion of its loan-against-securities (LAS) business, according to a recent ICRA disclosure. The Bengaluru-based non-banking finance company (NBFC) posted a net profit of Rs 14.7 crore in FY26, compared to Rs 12.2 crore in the previous fiscal year. Its total income grew 44.2% to Rs 53.5 crore from Rs 37.1 crore in FY25. The growth was supported by a sharp expansion in its lending portfolio, with Zerodha Capital’s loan book rising to Rs 580 crore as of March 31, 2026, as the company continued to leverage Zerodha’s large broking customer base. ICRA reaffirmed the company’s long-term and short-term ratings at [ICRA]AA- (Stable) and [ICRA]A1+, respectively, while enhancing the rated amount of its fund-based bank facilities from Rs 600 crore to Rs 900 crore. The agency also withdrew its rating on the company’s Rs 100 crore non-convertible debenture programme as no amount remains outstanding under the facility. Founded as the lending arm of the Zerodha ecosystem, Zerodha Capital offers loans against shares and mutual funds with ticket sizes ranging from Rs 25,000 to Rs 10 crore. The company primarily caters to customers within the group’s brokerage network. ICRA said that the company maintained healthy asset quality, reporting nil gross non-performing assets (GNPAs) as of March 2026. Its net worth stood at around Rs 188 crore, while gearing increased to 2.4 times from 1.5 times a year earlier as it scaled lending operations. ICRA highlighted Zerodha Capital’s strategic importance within the Zerodha Group, supported by shared promoters, operational synergies, and access to the brokerage’s large customer base. As of May 2026, Zerodha had68.5 lakhactive NSE clients, representing around 15.02% of the exchange’s active investor base. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
