In the fiscal year 2022-23, Zerodha's co-founders, Nithin and Nikhil Kamath, collectively drew Rs 195.4 crore in compensation, each receiving Rs 72 crore as annual remuneration, as per an Entracker report. In the previous fiscal year, the board sanctioned up to Rs 100 crore remuneration for three directors.
Zerodha witnessed a 35.7% surge in employee benefits, reaching Rs 623 crore in FY23 from Rs 459 crore in FY22. The company disbursed a total salary of Rs 380 crore, encompassing directors and employees. The firm's valuation stands at $3.6 billion.
Nikhil Kamath, at 37, emerged as India's youngest billionaire. Forbes' list of India's 100 richest individuals ranked the Kamath brothers 40th, boasting a combined net worth of $5.5 billion. Established in 2010, Zerodha reshaped zero-cost equity investing.
In FY23, it recorded revenues of Rs 6,875 crore and profits of Rs 2,907 crore, marking a 38.5% and 39% increase, respectively, from FY22's Rs 4,964 crore revenue and Rs 2,094 crore profit.
Key Points:
1. Zerodha's founders, Nithin and Nikhil Kamath, collectively received Rs 195.4 crore as compensation in fiscal year 2022-23, with each founder drawing an annual remuneration of Rs 72 crore, as reported by Entracker.
2. The company's board in FY22 approved a remuneration of up to Rs 100 crore for three directors, indicating a significant increase in compensation.
3. Zerodha witnessed a notable surge in employee benefits, rising by 35.7% to Rs 623 crore in FY23 from Rs 459 crore in FY22, with a total salary payout of Rs 380 crore to employees, including directors.
4. The valuation of Zerodha currently stands at $3.6 billion, marking its considerable growth and market position.
5. Nikhil Kamath, at 37, became India's youngest billionaire, as recognized by Forbes' list of India's 100 richest people, where the Kamath brothers secured the 40th position with a combined net worth of $5.5 billion.
6. Established in 2010, Zerodha, founded by the Kamath brothers, introduced zero-cost equity investing, revolutionizing the investment landscape.
7. Zerodha's financial performance for FY23 displayed robust growth, with reported revenue and profit at Rs 6,875 crore and Rs 2,907 crore, respectively, marking a significant 38.5% and 39% increase compared to FY22.
8. In the previous financial year (FY22), Zerodha reported a revenue of Rs 4,964 crore and a profit of Rs 2,094 crore, indicating sustained growth over consecutive fiscal periods.
9. The significant increase in revenue and profit underscores Zerodha's successful business model and its expanding presence in the online brokerage platform sector.
10. Zerodha's success, substantial revenue growth, and the Kamath brothers' prominent position in India's richest list highlight the company's remarkable journey and its impactful contribution to transforming the investment landscape in India.
(With Agency Inputs)
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