Billionbrains Garage Ventures Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1.20L Cr
- P/E
- 44.51
- ROE
- 28.81%
- PEG
- 0.66
- Price to sales
- 20.94
- Debt to equity
- 0.01
- 52W high / low
- ₹222 / ₹131
- EBITDA margin
- 62.81%
- Net profit margin
- 44.85%
- Promoter holding
- 27.14%
- Sales (last year)
- ₹5,724 Cr
Incorporated in 2017, Groww is a Bengaluru-based fintech company that provides retail investors direct-to-customer digital investment platform, providing multiple financial products and services.[1]
Guidance scorecard · Q2 FY27 call
What Billionbrains's management guided
and where it ranks in Capital Markets
RevenueQ2 FY27 call
10–20%- Other operating income growth in Q2 was driven by about 30 IPOs including large ones like SBI, AMC, NSC, contributing significantly, and BSD revenue from new DMET account additions also accrued.
- MTF (Margin Trade Funding) book is growing steadily, adding around ₹600-700 crores quarterly, with expectations of continued growth due to underpenetration.
- Cash turnover related to MTF is currently above 5% and expected to increase as the book grows, though volatility impacts the churn and percentage.
- Revenue growth focuses on improving customer experience, with more than 50% of customers using more than two products; AI investments aim to enhance product quality and customer experience, indirectly driving revenue.
- New product launches like US stocks are in testing and expected to add to growth.
2 more points from Billionbrains's call on revenue
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MarginsQ2 FY27 call
FlatSee what Billionbrains said on margins — free account, 30 seconds.
CapexQ2 FY27 call
- The discussion mainly revolves around operational expenses, cost to grow, cost to serve, AI investments (primarily in-house AI infrastructure to reduce token costs), and revenue growth drivers.
- The company is investing in in-house AI technology to improve customer experience, ship products faster, and maximize revenue while controlling costs.
- AI investments include building an internal AI stack to reduce per-token costs significantly.
FundraisingQ2 FY27 call
See what Billionbrains said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
- The focus is on increasing market share, especially in power trader segments, by attracting external customers rather than just internal customer graduation.
- The margin trade funding (MTF) book shows growth trends, with quarterly additions averaging 600-700 crores, indicating ongoing scaling in lending and associated order activity.
- Order intensity or orders per Average Daily Turnover (ADTV) has increased quarter-on-quarter across cash, derivatives, and commodity segments, leading to flat revenue despite lower volumes.
- The company reports a high churn in cash turnover led by MTF contributing just above 5%, expected to grow as book size expands, but depends on market volatility.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Capital Markets
on management's own guidance
- Nippon Life Ind.Good growth2
- BSEGood growth1
- Motil.Oswal.Fin.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Capital Markets companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | BSE | 20–40% | Flat | ₹1.37L Cr | 48.4 |
| 2 | Nippon Life Ind. | 20–40% | Flat | ₹68,184 Cr | 41.6 |
| 3 | Motil.Oswal.Fin. | 20–40% | Flat | ₹63,771 Cr | 32.2 |
| 4 | 20–40% | Flat | ₹31,481 Cr | 29.1 | |
| 5 | 20–40% | Flat | ₹15,334 Cr | 43.8 | |
| 6 | 20–40% | Flat | ₹12,638 Cr | 51.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets rankingFinancials of Billionbrains
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Billionbrains
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 1,125 | 975 | 801 | 904 | 1,019 | 1,216 | 1,505 |
| Expenses + | 575 | -40 | 413 | 422 | 415 | 496 | 567 |
| Operating Profit | 550 | 1,014 | 388 | 483 | 603 | 720 | 938 |
| OPM % | 49% | 104% | 48% | 53% | 59% | 59% | 62% |
| Other Income + | 35 | 30 | 49 | 44 | 52 | 45 | 30 |
| Interest | 9 | 16 | 16 | 16 | 11 | 10 | 8 |
| Depreciation | 6 | 7 | 7 | 7 | 7 | 9 | 24 |
| Profit before tax | 570 | 1,022 | 414 | 503 | 638 | 745 | 936 |
| Tax % | 26% | 26% | 25% | 25% | 26% | 27% | 27% |
| Net Profit + | 420 | 757 | 309 | 378 | 471 | 547 | 686 |
| EPS in Rs | 13.51 | 20.71 | 1.69 | 1.81 | 0.79 | 0.89 | 1.09 |
Financials of Billionbrains
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 427 | 1,142 | 2,794 | 4,061 | 4,645 |
| Expenses + | 661 | 743 | 2,050 | 1,531 | 1,901 |
| Operating Profit | -233 | 399 | 743 | 2,530 | 2,744 |
| OPM % | -55% | 35% | 27% | 62% | 59% |
| Other Income + | 0 | 119 | -1,337 | 0 | 171 |
| Interest | 0 | 2 | 4 | 43 | 46 |
| Depreciation | 3 | 12 | 20 | 25 | 48 |
| Profit before tax | -236 | 504 | -618 | 2,464 | 2,821 |
| Tax % | 1% | 9% | 30% | 26% | 26% |
| Net Profit + | -239 | 458 | -805 | 1,824 | 2,083 |
| EPS in Rs | -2,144.93 | 67.20 | -118.20 | 9.98 | 3.32 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Billionbrains
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.11 | 21 | 21 | 366 | 1,248 |
| Reserves | 2,706 | 3,252 | 2,478 | 4,446 | 8,404 |
| Borrowings + | 0 | 75 | 91 | 610 | 292 |
| Other Liabilities + | 1,291 | 1,460 | 5,428 | 4,654 | 8,597 |
| Total Liabilities | 3,997 | 4,808 | 8,018 | 10,076 | 18,541 |
| Fixed Assets + | 286 | 321 | 396 | 402 | 253 |
| CWIP | 0 | 0 | 0 | 0 | 1,239 |
| Investments | 280 | 1,252 | 1,448 | 1,907 | 2,638 |
| Other Assets + | 3,431 | 3,235 | 6,174 | 7,767 | 14,412 |
| Total Assets | 3,997 | 4,808 | 8,018 | 10,076 | 18,541 |
Financials of Billionbrains
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -349 | 548 | 885 | -962 | -21 |
| Cash from Investing Activity + | -1,512 | -363 | -910 | 140 | -1,351 |
| Cash from Financing Activity + | 1,874 | -5 | 4 | 876 | 2,175 |
| Net Cash Flow | 14 | 179 | -21 | 53 | 804 |
| Free Cash Flow | -357 | 537 | 878 | -979 | -33 |
| CFO/OP | 144% | 150% | 157% | 37% | 26% |
Financials of Billionbrains
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 12 | 12 | 9 | 9 | 22 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 12 | 12 | 9 | 9 | 22 |
| Working Capital Days | -961 | -2 | -434 | -162 | -526 |
| ROCE % | 16% | 24% | 63% | 37% |
Guidance history
How Billionbrains's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 10–20% | Flat | — | — | — |
| Q1 FY27 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Billionbrains's management said in earlier quarters
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