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After the anxiety of its split with Sequoia, a spell of founder run-ins, senior-level churn and tighter capital, things finally seem to be turning for Peak XV Partners.

The e-commerce platform appears to have put on a good show in FY26, outpacing itself on most fronts. However, the margins tell a different story, one that investors should pay close attention to.
While rivals lost users, India’s largest broker leaned on lending and derivatives to deliver strong growth.
A correct summary of modern times is that there are decades when nothing happens and then there are weeks in which a lot comes to pass. Like these past few weeks.