Is 5paisa Capital profitable in 2026?

Yes but declining. FY26 (ended Mar 2026) PAT was ₹442 mn, down 35% YoY, on total income of ₹3,199 mn, down 11% YoY. Q1 FY27 (Jun 2026) showed a slight recovery: PAT ₹11.6 crore, up 8% QoQ, and revenue up 14% YoY to ₹884 mn.

Who is 5paisa Capital's biggest competitor?

Groww leads India's discount broking market with about 28% of NSE active-client share as of July 2026 and is still gaining share, while Zerodha remains larger by historical revenue (₹8,847 crore FY25). 5paisa was not named among top brokers in July 2026 NSE market-share reports.

Could AI or ChatGPT replace 5paisa Capital?

No: trade execution requires a SEBI broking license and NSE/BSE/MCX membership that pure AI tools lack. 5paisa instead partnered with OpenAI on July 19, 2026, positioning itself, by its own claim, as the first Indian broking platform accessible inside ChatGPT for portfolio analysis.

Is 5paisa Capital losing market share to rivals?

Yes, based on available evidence. As of July 2026 NSE active-client data, Groww (~28%, still gaining), Zerodha, Angel One (~15%, declining) and Upstox (~4-5.6%, sharpest decline) dominate the rankings; 5paisa was not listed among named top brokers in the same July 2026 reports.

Who owns 5paisa Capital?

5paisa Capital is publicly listed (NSE: 5PAISA, BSE: 540776) and part of the IIFL Group ecosystem. As of April 2026 filings, promoters Nirmal Jain and Venkataraman Rajamani held 36.50% of shares, with public shareholders holding 63.49%.

What did 5paisa Capital's OpenAI partnership actually announce?

On July 19, 2026, 5paisa announced a partnership with OpenAI integrating AI-driven portfolio analysis, with the company describing itself as the first Indian broking platform accessible within ChatGPT. It followed the June 20, 2026 launch of AlgoSpace, its no-code algo-trading marketplace.

Payments companies · subsidiary of IIFL Group / IIFL Holdings (5paisa trademark owned by IIFL Facilities Services Limited and licensed to 5paisa Capital; spun out via 2016 demerger; publicly listed but operates within IIFL ecosystem) · India

5paisa Capital

5paisa.com ↗

Indian discount broker holding a SEBI/NSE license, dwarfed by Groww and Zerodha.

Protection under test

Assessed 26 July 2026 · Evidence as of 26 July 2026

Something worth protecting exists and is being tested right now.

On the recordSince 26 July 2026 · Checkable from Q2 FY27 (~Oct 2026) · Every call on the record Checkpoint: Q2 FY27 results, first full quarter after the OpenAI/AlgoSpace launch and rights-issue capital deployment

The call

5paisa survives on a license every rival also holds, while Groww pulls further ahead and a fresh AI distribution push has yet to show it moves the numbers.

5paisa is a discount brokerage firm in India that lets people trade stocks and other securities online with low fees. It has a government license that blocks new unlicensed competitors, but that same license does not protect it from Groww, Zerodha, and other licensed brokers who are bigger and better funded. 5paisa's revenue and profit both fell in the last year, and customers are switching to Groww instead. An AI chatbot partnership announced in July 2026 might help it acquire new customers, but larger rivals will copy this feature within weeks, so it is not a lasting advantage. The real test comes with quarterly results in October 2026, which will show whether the AI tool is actually bringing in new customers or whether 5paisa continues to lose ground.

Why

AI pressure: None apparent. AI chatbots can't place trades without a SEBI license, so the ChatGPT/OpenAI tie-up is 5paisa's own marketing, not a threat eating it. Could AI do the core job? Only partly.

Bigger players: Groww. Groww holds roughly 28% of NSE active clients and keeps gaining while 5paisa's revenue and profit shrink in FY26. Could a giant copy it? Yes, easily.

What protects it. A shared SEBI broking license and NSE/BSE membership keep out unlicensed entrants, but Groww and Zerodha hold the same license.

What would change this call

5paisa's Q2 FY27 results (~Oct 2026) show NSE active-client share vs prior quarter. Reveals whether share loss to Groww is stabilizing or still bleeding.
5paisa reports measurable new-customer acquisition from OpenAI/ChatGPT or AlgoSpace channels by Q2 FY27. Shows whether the AI distribution tie-up converts to paying customers, not just headlines.
Groww or Zerodha launch a comparable ChatGPT/AI trading integration within 1-2 quarters. Would confirm 5paisa's AI channel is easily copied and not a lasting edge.

Key numbers

FY26 revenue fell 11% YoY to Rs319.9 crore (2026-03)
FY26 profit fell 35% YoY to Rs44.2 crore (2026-03)
Q1 FY27 revenue up 14% YoY to Rs88.4 crore (2026-06)

Named risks

FY26 revenue and PAT declined 11% and 35% YoY respectively amid SEBI F&O trading curbs. Severity: high
Losing active-client share to Groww and other scaled rivals in a consolidating market. Severity: high
Pending Income Tax and GST regulatory orders under appeal as of Mar 2026. Severity: medium
SEBI research-analyst registration lapsed, with advice to surrender reported around late 2025. Severity: medium
OpenAI and AlgoSpace channels unproven; days-old at Jul 2026 with no traction data yet. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Groww	losing to	Groww holds ~28% NSE active-client share, still gaining, as of Jul 2026
Zerodha	contesting	Zerodha far larger by scale, FY25 revenue ₹8,847 crore, though itself losing active clients
Angel One	contesting	Angel One holds ~15% NSE active-client share, declining, vs 5paisa not ranked (Jul 2026)
Upstox	gaining on	Upstox share fell to ~4-5.6%, sharpest decline among large brokers, Jul 2026

Questions people ask

Is 5paisa Capital profitable in 2026?: Yes but declining. FY26 (ended Mar 2026) PAT was ₹442 mn, down 35% YoY, on total income of ₹3,199 mn, down 11% YoY. Q1 FY27 (Jun 2026) showed a slight recovery: PAT ₹11.6 crore, up 8% QoQ, and revenue up 14% YoY to ₹884 mn.
Who is 5paisa Capital's biggest competitor?: Groww leads India's discount broking market with about 28% of NSE active-client share as of July 2026 and is still gaining share, while Zerodha remains larger by historical revenue (₹8,847 crore FY25). 5paisa was not named among top brokers in July 2026 NSE market-share reports.
Could AI or ChatGPT replace 5paisa Capital?: No: trade execution requires a SEBI broking license and NSE/BSE/MCX membership that pure AI tools lack. 5paisa instead partnered with OpenAI on July 19, 2026, positioning itself, by its own claim, as the first Indian broking platform accessible inside ChatGPT for portfolio analysis.
Is 5paisa Capital losing market share to rivals?: Yes, based on available evidence. As of July 2026 NSE active-client data, Groww (~28%, still gaining), Zerodha, Angel One (~15%, declining) and Upstox (~4-5.6%, sharpest decline) dominate the rankings; 5paisa was not listed among named top brokers in the same July 2026 reports.
Who owns 5paisa Capital?: 5paisa Capital is publicly listed (NSE: 5PAISA, BSE: 540776) and part of the IIFL Group ecosystem. As of April 2026 filings, promoters Nirmal Jain and Venkataraman Rajamani held 36.50% of shares, with public shareholders holding 63.49%.
What did 5paisa Capital's OpenAI partnership actually announce?: On July 19, 2026, 5paisa announced a partnership with OpenAI integrating AI-driven portfolio analysis, with the company describing itself as the first Indian broking platform accessible within ChatGPT. It followed the June 20, 2026 launch of AlgoSpace, its no-code algo-trading marketplace.

Timeline

2026-07-195paisa announces OpenAI partnership for AI-driven portfolio analysis in ChatGPT
2026-07-17Q1 FY27 results released; stock falls 4.3% on results day
2026-06-20AlgoSpace no-code algo trading marketplace launched at BSE
2026-04₹469 crore rights issue completed; net worth rises to ₹1,131 crore
2026-03-12GST order received for ₹9.98 lakh demand covering FY2019-20, under appeal
2026-03FY26 closes: revenue ₹3,199 mn (-11% YoY), PAT ₹442 mn (-35% YoY)
2025-11-25FY25 results reported: revenue ₹3,598 mn, PAT ₹682 mn (+25% YoY)
2022-125paisa completes all-stock merger with IIFL Securities' online retail broking business
2017-11-145paisa Capital lists on NSE and BSE (ticker 5PAISA, BSE 540776)

Revision history

26 July 2026

First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.

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