Angel One vs Groww
Groww holds the stronger position, pulling active traders and market share away from Angel One while posting sharply rising profits, based on data through July 2026.
Angel One
Indian discount stockbroker and fintech app for trading, investing, wealth
Dimension by dimension
| Dimension | Angel One | Groww |
|---|---|---|
| Staying power of the core product | Active NSE clients fell from 75.77 lakh to 67.62 lakh between FY25 and FY26, with another 50,390 lost in June 2026 alone. | Holds 28.7% of active NSE client market share with no visible customer loss in the evidence. |
| Exposure to AI absorbing the product | AI partly overlaps with what Angel One offers, adding a second source of pressure on top of Groww. | AI is unlikely to absorb Groww's core stockbroking and wealth product. |
| How easily a giant could copy them | A large financial platform could plausibly replicate Angel One's brokerage and wealth-management offering. | A large financial platform could plausibly replicate Groww's brokerage and wealth-management offering. |
| Pressure from rivals | Angel One faces heavier direct pressure than Groww, having lost clients directly to Groww following Groww's November 2025 IPO. | Groww faces lighter rival pressure, with no meaningful customer loss visible in the evidence. |
| Financial footing | Q1 FY27 gross revenue rose 25.4% YoY to ₹1,430 crore even as client numbers shrank. | FY26 net profit reached ₹2,083 crore, and Q1 FY27 profit jumped 94% YoY to ₹735 crore. |
| Overall protective strength | Angel One's active NSE client base has been shrinking since FY25, raising doubts about the durability of its market position. | Groww's growing market share and rising profits point to a more durable competitive position. |
Questions people ask
- Is Angel One losing customers to Groww?
- Yes. Angel One's active NSE clients dropped from 75.77 lakh to 67.62 lakh between FY25 and FY26, and it lost another 50,390 active clients in June 2026 alone. Groww has grown its market share to 28.7% of active NSE clients over the same period, with no comparable losses shown.
- Which is bigger, Groww or Angel One, in the Indian stockbroking market?
- Groww leads with 28.7% of active NSE client market share, while Angel One has been shrinking, dropping from over 75 lakh to under 68 lakh active clients in a single fiscal year. Groww overtook Angel One in both client count and market cap after its November 2025 IPO.
- Is Angel One profitable despite losing clients?
- Angel One's Q1 FY27 gross revenue grew 25.4% year over year to ₹1,430 crore, showing revenue can still rise even as client numbers fall. Groww's profit growth has been steeper, with Q1 FY27 net profit up 94% year over year to ₹735 crore and FY26 net profit at ₹2,083 crore.
- Could a bigger company copy Groww or Angel One's business?
- Both are rated as possible targets for a larger player to copy, so neither has a clear edge on this point. The difference between them comes more from current client trends and financial momentum than from how defensible their business models are against copying.
- Does AI threaten Angel One or Groww more?
- Angel One is rated as partly exposed to AI absorbing its product, while Groww is rated unlikely to face that risk. This gives Groww an added layer of stability that Angel One currently lacks.
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