Zerodha's Directors Draw a Remuneration of About Rs. 200 Crore in FY 2023

India”s most profitable consumer tech company, Zerodha, a stockbroking platform, has released its financial results for the fiscal year ending March 2023. According to the company”s regulatory filing, the Bengaluru-based firm has increased spending on employee welfare, providing them with 35.7% more benefits.

The company provided a total salary of Rs. 380 crores to employees, including directors, leading to total benefits reaching Rs. 623 crores, out of which Rs. 236 crore was spent on ESOPs, which were settled in cash.

Its co-founders and whole-time directors, including Nithin and Nikhil Kamath [brothers], collectively earned Rs 195.4 crore, with each having Rs. 72 crore. Zerodha’s board had allowed remuneration of up to Rs 100 crore each to three of its directors in FY 2022.

The company”s valuation will reach $3.6 billion in 2023 from $2 billion in 2021, which is an 80% jump.

However, Zerodha redeemed their position as the market leader under Groww, with Groww having 6.63 million active users and Zerodha having 6.48 million users at the end of September 2023.