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.
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,