Groww has surpassed Angel One to become India's largest commodities derivatives broker, recording a notional average daily turnover of ₹2.43 lakh crore in Q1 FY27. The firm also reported a 94% rise in quarterly net profit to ₹735 crore, driven by its push into new financial services.
Groww, the Bengaluru-based brokerage platform operating as Billionbrains Garage Ventures, has captured the top position in India’s commodities derivatives market. Data for the first quarter of fiscal year 2027 shows the company achieved a notional average daily turnover of ₹2.43 lakh crore. This performance allowed it to overtake Angel One, which reported a turnover of ₹2.37 lakh crore for the same period.
Market Share and Growth Strategy
With this turnover, Groww now holds an estimated 28.6% share of the commodities derivatives segment. For comparison, Angel One holds approximately 26.5%, while Zerodha is estimated to account for 12% of the market. Groww’s entry into this segment was relatively recent, beginning with a restricted rollout in July 2025 followed by a full-scale launch in September 2025. This rapid gain in market share highlights the firm’s success in attracting active traders to its commodities platform within a year of full operations.
Financial Performance in Q1 FY27
The company’s push into commodities has bolstered its overall financial health. In its latest quarterly report, Groww announced a 94% year-on-year increase in net profit, totaling ₹735 crore. Consolidated revenue from operations also rose by 66% to reach ₹1,501 crore. These figures reflect both the increase in trading volumes and the expansion of the company’s Margin Trading Facility, a service where the broker lends money to clients to buy shares.
Revenue Diversification and Market Context
Groww is actively working to reduce its reliance on equity derivatives, which have historically accounted for nearly half of its income. This strategy involves growing its presence in commodities, personal loans, and other financial services. Moving toward more diverse income streams is a common focus for major Indian discount brokers, who often face regulatory pressure and high competition in the volatile equity futures and options segment.
While the company has seen strong growth, investors often monitor the sustainability of such aggressive expansion. The competitive landscape remains intense, with established players like Angel One and Zerodha frequently adjusting their pricing and features to maintain market share. Additionally, the commodities segment is sensitive to global price movements and regulatory policies, which can influence trading volumes. The company's future performance will likely depend on its ability to maintain high user engagement in commodities while managing the costs associated with its expanded service offerings.