Nithin Kamath's entrepreneurial journey took off when he managed an NRI's account he met at the gym, becoming his first client. Inspired by the opportunity, Kamath left his job and founded Zerodha.
Stock brokerage startup Zerodha stands as one of the largest online brokerage firms in the country, co-founded by Nithin Kamath and his brother Nikhil Kamath, along with five others. According to their company's filings with the Ministry of Corporate Affairs, Nithin Kamath and Nikhil Kamath drew in an annual salary of ₹72 crore each in Financial Year 2023 (FY23).
In the financial year 2022, Zerodha reported a substantial gross profit of ₹2,094 crores and an increased revenue of ₹4,964 crores. Nithin Kamath is among the youngest billionaires of the country and is ready to challenge Mukesh Ambani. Despite currently earning crores monthly, Nithin's journey started at a call center with a modest salary of Rs 8,000 per month.
Zerodha's success is notable in India's unicorn boom, being a bootstrapped and highly profitable company. Nithin Kamath began trading stocks at the age of 17 while working at a call center. His entrepreneurial journey took off when he managed an NRI's account he met at the gym, becoming his first client. Inspired by the opportunity, Kamath left his job and founded Zerodha.
Having worked for 12 brokerage firms, Kamath identified a gap in the market and established Zerodha to bring online brokerage services. The company initially struggled but gained visibility after being featured in an Economic Times article in 2011. Zerodha's business model emphasises low margin and high volume, offering zero charges for equity delivery investments and a flat fee for other trades.
Despite the corporate trend of hiring from prestigious institutions like IITs and IIMs, Kamath has not hired anyone from these backgrounds, citing a mismatch in fitting them within Zerodha's culture. He values individuals who prioritise organisational growth over personal career advancement. Kamath believes in the importance of doing things differently and emphasizes that quick success is a rare occurrence in life.
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