Zerodha
Market Data Current As Of: September 12, 2026
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Zerodha
Compare market positioning with top industry peers
Explore Zerodha
Core profile pages, annual revenue records, and related research hubs for this company.
Business Model Analysis
Zerodha generates revenue primarily through FinTech.
Zerodha operates a high-operating-leverage financial technology and brokerage transaction model. Its revenue streams comprise: First, F&O and Intraday Trading Brokerage (~68% of revenue), charging a flat ₹20 or 0.03% (whichever is lower) per executed order across equity intraday, currency, commodity, and equity derivatives contracts. Second, Net Interest Income on Client Cash & Exchange Float (~20% of revenue), earning safe yields on client margin balances held with clearing corporations and overnight treasury repo deposits. Third, Account Maintenance & Onboarding Fees (~6% of revenue), charging nominal annual maintenance fees (AMC) for demat depository accounts managed via CDSL. Fourth, Technology APIs & Developer Platform (Kite Connect, ~6% of revenue), licensing high-speed algorithmic trading APIs and historical market data feeds to quantitative hedge funds and independent developers.
Zerodha's business model is anchored by its core commercial operations: Zerodha operates a high-operating-leverage financial technology and brokerage transaction model.
By integrating workflow automation into product delivery, Zerodha deepens customer engagement and strengthens recurring cash flows in FinTech, Retail Stock Broking, Wealth Management & Capital Markets.
In 2026, Zerodha continues refining operational efficiency to lower customer acquisition costs while scaling gross margins across key markets.