Zerodha's Nikhil Kamath expects upto 20% drop in broking biz this year, eyes ₹10,000 crore in revenue for FY26: Report

Zerodha's chief executive officer (CEO) Nithin Kamath Kamath has said that he expects a 10–20 per cent decline in the broking business this year, linked to lower market activity. In an interview to CNBC-TV18, Kamath said that despite the drop in business this year, he is targeting ₹10,000 crore in revenue by FY26.

He ruled out any change in brokerage rates. Kamath reaffirmed the leading domestic brokerage's long-term ambition to become a full-fledged financial services conglomerate, including entering banking. Kamath is a finalist for the EY World Entrepreneur of the Year 2025 award.

While speaking to the business news channel, Kamath said Zerodha is not giving up on its aspiration for a banking licence. “We have enough cash to do whatever we want to do,” he said, reiterating that the company sees no reason to go public. “Being listed on exchanges is tough for a company like us.”

Zerodha account charges

Zerodha charges ₹200 for online account opening for individuals. Annual maintenance charges range from Re 0 to ₹300 based on holdings. For non-individual accounts, opening costs ₹500 and AMC ranges from ₹300 to ₹1,000 per year. Further, BSDA holders may be eligible for reduced or zero AMC depending on their holdings.

The brokerage firm supports Basic Services Demat Accounts (BSDA) accounts, provides seamless Kite and Console platforms and integrates tools such as Coin for mutual funds and Sensibull for options trading.

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