Board Meeting Details
The Board meeting commenced at 10:30 a.m. (IST) and concluded at 11:15 a.m. (IST) on July 15, 2026.
Key Decisions and Financial Results
1. Financial Results Approval
The Board approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The results were reviewed by statutory auditors M/s. BSR & Co. LLP, who issued an unqualified limited review report.
Standalone Financial Results (All amounts in INR Crores)
- Revenue from operations: ₹953.48 (Q1 FY27) vs ₹623.45 (Q1 FY26)
- Other income: ₹100.21 (Q1 FY27) vs ₹41.33 (Q1 FY26)
- Total income: ₹1,053.69 (Q1 FY27) vs ₹664.78 (Q1 FY26)
- Employee benefits expense: ₹87.13
- Finance costs: ₹1.05
- Depreciation and amortization: ₹7.36
- Other expenses: ₹214.48
- Total expenses: ₹310.02
- Profit before tax: ₹743.67
- Tax expense: ₹188.53 (Current tax: ₹190.79, Deferred tax credit: ₹2.26)
- Profit for the period: ₹555.14
- Earnings per share (Basic): ₹0.90
- Earnings per share (Diluted): ₹0.88
Consolidated Financial Results (All amounts in INR Crores)
- Total expenses: ₹555.68
- Profit before share of net loss of associate and tax: ₹992.99
- Share of net loss of associate: ₹0.72
- Profit before tax: ₹992.27
- Tax expense: ₹257.23 (Current tax: ₹260.40, Deferred tax credit: ₹3.17)
- Profit for the period: ₹735.04
- Earnings per share (Basic): ₹1.19
- Earnings per share (Diluted): ₹1.17
2. Share Capital Reclassification
The Board approved reclassification of Authorised Share Capital from:
- Previous: ₹5,000 crores divided into 2,332.50 crore Equity Shares of ₹2 each and 33.50 crore Preference Shares of ₹10 each
- New: ₹5,000 crores divided into 2,500 crore Equity Shares of ₹2 each
This change requires consequential alteration in the capital clause of the Memorandum of Association subject to shareholders' approval.
3. Internal Auditor Appointment
Based on Audit Committee recommendation, the Board approved appointment of M/s. Ernst & Young LLP as Internal Auditor for Financial Year 2026-27, replacing the existing internal auditor upon completion of its term.
Subsidiary and Associate Information
The consolidated financial results include 17 subsidiaries and 1 associate (Saafe Fintech Solutions Private Limited).
Key subsidiaries include:
- Groww Invest Tech Private Limited
- Groww Creditserv Technology Private Limited
- Groww Asset Management Limited
- Groww Trustee Limited
- Groww Pay Services Private Limited
- Finwizard Technology Private Limited (acquired for ₹961.05 crores in September 2025)
Employee Stock Options
During the quarter, the Groww Employee Welfare Trust transferred 1,24,42,743 equity shares pursuant to exercise of stock options under the Employee Stock Option Scheme 2024.
IPO Proceeds Utilization
The company completed an IPO on November 12, 2025, issuing 66,32,30,051 equity shares of ₹2 each at ₹100 per share (fresh issue: 10,60,00,000 shares, offer for sale: 55,72,30,051 shares).
Net proceeds from fresh issue: ₹1,015.98 crores (net of IPO expenses of ₹44.02 crores)
Utilization as of June 30, 2026:
- Cloud infrastructure: ₹139.11 crores utilized of ₹152.50 crores allocated
- Brand building & marketing: ₹185.63 crores utilized of ₹225.00 crores allocated
- Investment in Groww Creditserv (NBFC): ₹205.00 crores fully utilized
- Investment in Groww Invest Tech (MTF business): ₹167.50 crores fully utilized
- Inorganic growth & corporate purposes: ₹165.05 crores utilized of ₹265.98 crores allocated
- Total utilized: ₹862.29 crores, Unutilized: ₹153.69 crores
No deviation or variation in utilization of IPO proceeds was reported.
Pending Transaction
The company executed a Share Subscription and Share Purchase Agreement on January 14, 2026, for investment in Groww Asset Management Limited with State Street Global Advisors, Inc. Approvals received from CCI (March 25, 2026) and SEBI (June 1, 2026). Transaction pending fulfilment of remaining closing conditions.
Additional Information
- All comparative figures restated from INR million to INR crore for consistency
- The statement on deviation/variation of funds raised confirms no deviation from stated objectives