Groww Shares In Focus As Motilal Oswal Initiates Coverage With 'Buy' — Do You Own?

GROWW (at ~22x FY28E P/E) is valued at a meaningful discount to global peers such as Robinhood (at ~40x CY27E P/E). As Groww’s revenue mix diversifies beyond broking ( ~85% vs ~55–60% for Robinhood in FY25) towards MTF, credit and wealth, the brokerage expects the valuation gap to narrow over time.