Overtaking Angel One, Groww has become India's largest commodities derivatives broker by notional average daily turnover in the June quarter of FY27, according to a report.
The Bengaluru-based brokerage reported a commodities derivatives ADTO of Rs 2.43 lakh crore in the April-June quarter, marginally ahead of Angel One's Rs 2.37 lakh crore, Moneycontrol reported, citing company disclosures.
Based on the disclosures, Groww's market share stood at 28.6%, while Angel One's is estimated at around 26.5%. Zerodha's share in the segment is estimated to be about 12%, the report said.
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Groww entered the commodities business on a limited scale in July last year before extending the offering to all customers by September. The segment has quickly emerged as a meaningful contributor, accounting for 4.9% of the company's total revenue in the June quarter, according to its shareholder letter.
The company's commodities customer base expanded sharply from 27,000 in Q2 FY26 to 4.35 lakh users by the end of June 2026, reflecting rapid adoption of the platform.
Separately, Billionbrains Garage Ventures, Groww's parent company, reported a 94% year-on-year rise in net profit to Rs 735 crore for the June quarter, supported by strong growth in commodities derivatives and its Margin Trading Facility business. Consolidated revenue from operations increased 66% to Rs 1,501 crore, compared with Rs 904 crore a year earlier.
According to the company's shareholder letter, Groww also expanded its market share across mutual funds, equities, equity derivatives and MTF, while its asset management business recorded 140% growth in assets under management over the past year. The company said it expects revenue diversification beyond equity derivatives to continue.
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