Zerodha FY23 salaries revealed. Here's what Kamath brothers, others took home

For FY23, the Bengaluru-based company paid ₹380 crore total salary to its employees, filings show.

Published on: Dec 9, 2023, 02:03:19 IST

By HT News Desk, New Delhi

Prefer HTon Google

Share via

Copy link

The top brass of investing and trading platform Zerodha collectively took home a remuneration of around ₹200 crore for financial year 2022-23 (FY23), according to filings with the Union ministry of corporate affairs.

Zerodha (company logo pictured here) was founded in August 2010 and is headquartered in Bengaluru.

Also Read: Zerodha faces multiple outages; CEO Nithin Kamath reveals reason behind tech issues

The filings show that for the April 1, 2022-March 31, 2023 period, the combined salary of brothers and founders Nithin and Nikhil Kamath stood at ₹144 crore – ₹72 crore each. However, Nithin, who is the CEO and managing director, and Nikhil, the CFO, did not take any stock option or equity during the said period.

Meanwhile, Seema Patil, whole-time director at Zerodha, had an annual remuneration of ₹36 crore, with the corresponding figure for COO Venu Madhav being ₹15.4 crore.

Patil, the whole-time director, is the spouse of Nithin Kamath.

Together, therefore, the Kamath brothers, and Patil and Madhav, took home annual salary amounting to ₹195.4 crore. During the previous 2022 fiscal, the Bengaluru-based company's board had passed a resolution approving a remuneration of up to ₹100 crore each to three of the directors.

Also, for FY23, the firm's employees, including the directors, received a total salary of ₹380 crore.

Zerodha, which was founded by the Kamaths on August 15, 2010, values itself at ₹30,000 crore, about 10 times of its yearly profit. As per Moneycontrol, the online stock trading platform has an active client base of 64.8 lakh as of November this year, making it the second-largest retail broking company in the country.

The largest is fintech startup Groww, which is also based in Bengaluru, and has 66.3 lakh active investors,

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Zerodha

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.