Salary of Zerodha founders: Know what Kamath brothers took home last financial year

Zerodha founder

Nikhil and Nithin Kamath, both brothers and founders of Zerodha, received a collective compensation of around Rs. 195.4 crore. In other words, each of the brothers is taking home around Rs. 72 crore as an annual salary in the financial year 2022–23, as per the sources.

The complete valuation of Zerodha, which is an online stockbroker, is estimated to be around USD 3.6 billion, or around Rs. 30, 000 crore. This company was founded in 2010. Its estimation is self-assessed by the company itself and shows its stronghold in the brokerage market.

Seema Patil is a full-time director of the company. She is also the wife of Nithin Kamath. Seema took around Rs. 36 crore, whereas Venu Madhav, who is the chief operating officer, took around Rs. 15.4 crore, as per reports by Business Today.

The employment benefits of the company Zerodha saw a huge employee benefits cost increase of around 35.7% to Rs. 623 crore from Rs. 459 crore in the last financial year. The employees that involved directors got an annual salary of around Rs. 380 crore from Zerodha.

Also, of the Rs. 623 crores, the company spent around Rs. 236 crores on ESOPs, and all of it was settled in cash as per Entrackr.

The technical issues with Zerodha affecting customers 

Recently, the company faced some technical issues. Nithin Kamath gave a public apology on X. He said that the glitches affected around 5% to 20% of its active customers.

He explained a few reasons behind the technical problems: ‘The issues on November 6 and December 4 were caused by the edge cases with the external dependencies of the company. However, this is not an excuse, but as a platform, we understand that we are held responsible for the major issues our customers face. I wanted to address the issues, the reason behind them, and what we are currently doing to resolve them.’

In FY2023, the company had a 38% increase in its overall revenue, which was around Rs. 687 crore in comparison to the previous year.

Zerodha’s success in the fiscal year 2023 is mainly because of its robust customer base and market presence. Till August 2023, the company had 6.3 million clients and around 20% of trading customers in India. Also, the company was experiencing around 250, 000 customers every month, which led to its dominance in the retail brokerage market.

The online stockbroker had a market share of around 19.6% by the end of FY23. Also, its average turnover was Rs. 2000 crore as per the National Stock Exchange.

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