Capital Markets
Valuation | |
|---|---|
| Market Cap | 24.03 kCr |
| Price/Earnings (Trailing) | 31.13 |
| Price/Sales (Trailing) | 5.07 |
| EV/EBITDA | 15.23 |
| Price/Free Cashflow | -11.14 |
| MarketCap/EBT | 22.51 |
| Enterprise Value | 23.93 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 2.2% |
| Price Change 1M | 9.7% |
| Price Change 6M | 3.6% |
| Price Change 1Y | 5.9% |
| 3Y Cumulative Return | 30.2% |
| 5Y Cumulative Return | 50.8% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -340.82 Cr |
| Revenue (TTM) |
| 4.74 kCr |
| Rev. Growth (Yr) | 5.8% |
| Earnings (TTM) | 769.38 Cr |
| Earnings Growth (Yr) | -4.5% |
Profitability | |
|---|---|
| Operating Margin | 23% |
| EBT Margin | 23% |
| Return on Equity | 13.19% |
| Return on Assets | 4.19% |
| Free Cashflow Yield | -8.98% |
| Cash Flow from Operations (TTM) | -1.86 kCr |
| Cash Flow from Financing (TTM) | 1.92 kCr |
| Cash & Equivalents | 99.36 Cr |
| Free Cash Flow (TTM) | -2.01 kCr |
| Free Cash Flow/Share (TTM) | -221.98 |
Balance Sheet | |
|---|---|
| Total Assets | 18.34 kCr |
| Total Liabilities | 12.51 kCr |
| Shareholder Equity | 5.83 kCr |
| Net PPE | 396.89 Cr |
| Inventory | 0.00 |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 1.78 |
| Interest/Cashflow Ops | -4.77 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 60 |
| Dividend Yield | 2.27% |
| Shares Dilution (1Y) | 0.70% |
| Shares Dilution (3Y) | 9% |
Balance Sheet: Reasonably good balance sheet.
Momentum: Stock price has a strong positive momentum. Stock is up 9.7% in last 30 days.
Past Returns: Outperforming stock! In past three years, the stock has provided 30.2% return compared to 13% by NIFTY 50.
Dividend: Dividend paying stock. Dividend yield of 2.27%.
Profitability: Very strong Profitability. One year profit margin are 16%.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Size: Market Cap wise it is among the top 20% companies of india.
Insider Trading: Significant insider selling noticed recently.
Balance Sheet: Reasonably good balance sheet.
Momentum: Stock price has a strong positive momentum. Stock is up 9.7% in last 30 days.
Past Returns: Outperforming stock! In past three years, the stock has provided 30.2% return compared to 13% by NIFTY 50.
Dividend: Dividend paying stock. Dividend yield of 2.27%.
Profitability: Very strong Profitability. One year profit margin are 16%.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Size: Market Cap wise it is among the top 20% companies of india.
Insider Trading: Significant insider selling noticed recently.
Investor Care | |
|---|---|
| Dividend Yield | 2.27% |
| Dividend/Share (TTM) | 60 |
| Shares Dilution (1Y) | 0.70% |
| Earnings/Share (TTM) | 84.97 |
Financial Health | |
|---|---|
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 55.09 |
| RSI (5d) | 55.5 |
| RSI (21d) | 57.48 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
Summary of ANGEL ONE's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management provided a positive outlook for Angel One Limited, emphasizing their focus on scaling their technology-led financial services platform amidst a favorable market environment. Key forward-looking points include:
Long-Term Growth Conviction: Management stated that they are optimistic about the long-term growth potential, driven by a young digital-native population and ongoing financialization in India. They view the structural tailwinds as supportive in various segments including investing, credit, wealth, and protection.
Expansion Plans: The company plans to continue investing in expanding its client base and product offerings. With a current stand-alone operating margin at 43%, they anticipate further operational leverage as they increase customer acquisition and deepen engagement.
Financial Metrics: Total gross income increased by 11.1% quarter-on-quarter to approximately Rs. 13.4 billion, while net income grew 9.3% to Rs. 10.3 billion. This was backed by a diversified revenue stream where the share of gross broking income decreased to 58.1% from 64.7% year-on-year.
Average Daily Orders: There was a recovery noted in average daily orders which improved from 4.9 million in February to 6.2 million in Q3 FY '26, indicating signs of market recovery.
Credit Disbursements Growth: Credit disbursements reached Rs. 7.1 billion during the quarter, a 56% growth quarter-over-quarter, reflecting high demand and further engagement from clients.
Dividend and Stock Split: The Board approved an interim dividend of Rs. 23 per share and a stock split of 1:10, which are intended to enhance shareholder value and liquidity.
New Leadership: The addition of Ajit Sinha as General Counsel is expected to strengthen the company's governance and compliance framework.
Overall, management's focus remains on disciplined execution, leveraging technology effectively, and fostering trust with their clients while maintaining a strong market presence.
Understand ANGEL ONE ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Dinesh Dariyanumal Thakkar | 18.46% |
| Nirwan Monetary Services Pvt Ltd | 6.68% |
| Mukesh Ramanlal Gandhi | 5.05% |
| Nippon Life India Trustee Ltd- A/C Nippon India Growth Mid Cap Fund | 4.01% |
| Deepak Tarachand Thakkar | 2.96% |
| Ashok Daryanimal Thakkar | 2.86% |
| Lalit Tarachand Thakkar |
Detailed comparison of ANGEL ONE against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| MOTILALOFS | Motilal Oswal Financial Services | 46.35 kCr | 7.93 kCr | -9.80% | +9.90% | 22.83 | 5.84 | - | - |
| GEOJITFSL | Geojit Financial Services | 2 kCr |
Comprehensive comparison against sector averages
ANGELONE metrics compared to Capital
| Category | ANGELONE | Capital |
|---|---|---|
| PE | 31.13 | 24.73 |
| PS | 5.07 | 4.31 |
| Growth | -14.5 % | -8.2 % |
ANGEL ONE is a dynamic Stockbroking & Allied company listed under the ticker ANGELONE, with a market capitalization of Rs. 21,246.8 Crores.
The company offers a wide range of services including broking and advisory services, margin funding, and loans against shares. It caters to clients across India through several segments:
ANGEL ONE leverages online and digital platforms to provide broking services and features a diverse array of financial products, including equity, commodities, derivatives, and currency derivatives.
Clients can also access portfolio management, investment advisory, and several trading services like intraday trading, trading accounts, and DEMAT accounts. Additionally, the company has ventured into financing, investment activities, and operates fitness centers.
Previously known as Angel Broking Limited, the company rebranded to Angel One Limited in September 2021. Established in 1996 and based in Mumbai, India, ANGEL ONE reported a trailing 12 months revenue of Rs. 5,548.4 Crores.
The company is also known for returning value to its investors, with a dividend yield of 0.93% per year. In the last 12 months, it distributed a dividend of Rs. 22 per share. However, it's important to note that ANGEL ONE has diluted shareholder stakes in recent years by approximately 9%.
Despite this, the company remains profitable, posting a profit of Rs. 1,337.5 Crores over the last four quarters, and has demonstrated impressive revenue growth of 172.2% in the past three years.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
ANGELONE vs Capital (2021 - 2026)
Question: "You have kind of presented two types of financials in your presentation, one is the consolidated financial performance, and then you have given broking and distribution, which is like MF plus credit business, so the gap between the two accounts for what?"
Answer: "The distribution plus MF and credit distribution, along with broking, constitutes the stand-alone financials. The other set represents the consolidated financials. Wealth management is included in the consolidated figures only."
Question: "Can you give ideally quantitatively else qualitatively how the customer acquisition cost has trended for this quarter? And what share of the customers we are acquiring through paid marketing?"
Answer: "We can't provide specific guidance on customer acquisition costs. It's generally flat. Accurately attributing channel effectiveness is complex and depends on various factors, making it hard to disclose specific channel contributions."
Question: "Can you give me the bifurcation of our MTF book, which comprises about Rs. 25 lakhs and below Rs. 25 lakhs?"
Answer: "We don't disclose MTF book composition specifically. However, you can refer to Slide 30 in our presentation for the breakup based on the range of less than Rs. 1 lakh, Rs. 1 lakh to Rs. 5 lakh, and over Rs. 5 lakh."
Question: "As credit is becoming the fast emerging engine of growth, are we planning to maintain the asset-light partnership model indefinitely? Or is there a plan to seek an NBFC license?"
Answer: "Currently, we are focused on a distribution play with our partners, but we aim to build capabilities for a more comprehensive platform over time. We will evaluate bringing credit in-house based on future opportunities."
| 2.74% |
| Bofa Securities Europe Sa - Odi | 2.38% |
| Rahul Lalit Thakkar | 2.36% |
| Bharat C Shah | 2.35% |
| Anuradha Lalit Thakkar | 2.31% |
| Nishith Jitendra Shah | 2.2% |
| Bela Mukesh Gandhi | 2.13% |
| Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Flexi Cap Fund | 1.97% |
| Motilal Oswal Large And Midcap Fund | 1.95% |
| Dsp Multi Asset Allocation Fund | 1.31% |
| Sbi Large & Midcap Fund | 1.21% |
| Dinesh D Thakkar Huf | 0.68% |
| Bhagwani Tarachand Thakkar | 0.09% |
| Tarachand Daryanumal Thakker | 0.09% |
Distribution across major stakeholders
Distribution across major institutional holders
| 663.87 Cr |
| -1.40% |
| -21.10% |
| 21.23 |
| 3.01 |
| - |
| - |
| SMCGLOBAL | SMC Global Securities | 1.61 kCr | 1.79 kCr | -3.10% | +39.60% | 18.99 | 0.9 | - | - |
| 5PAISA | 5paisa Capital | 1.04 kCr | 305.82 Cr | -13.90% | -16.80% | 24.02 | 3.41 | - | - |
| 3.3% |
| 32 |
| 31 |
| 30 |
| 29 |
| 27 |
| 26 |
| Fees and commission expenses | 7.1% | 182 | 170 | 169 | 147 | 195 | 242 |
| Impairment on financial instruments | 139.2% | 1.71 | -0.81 | -0.5 | 0.1 | -0.02 | -0.89 |
| Other expenses | 1.2% | 347 | 343 | 424 | 380 | 334 | 371 |
| Profit Before exceptional items and Tax | 27.3% | 374 | 294 | 164 | 236 | 387 | 572 |
| Total profit before tax | 27.3% | 374 | 294 | 164 | 236 | 387 | 572 |
| Current tax | 27.2% | 104 | 82 | 51 | 59 | 101 | 147 |
| Deferred tax | 59.6% | 0.79 | 0.48 | -0.68 | 1.86 | 4.86 | 1.89 |
| Tax expense | 28.4% | 105 | 82 | 50 | 61 | 106 | 149 |
| Total profit (loss) for period | 27% | 269 | 212 | 114 | 175 | 281 | 423 |
| Other comp. income net of taxes | -53.4% | -1.01 | -0.31 | -0.78 | -0.77 | -1.01 | -0.8 |
| Total Comprehensive Income | 27.1% | 268 | 211 | 114 | 174 | 280 | 423 |
| Reserve excluding revaluation reserves | - | - | - | - | - | - | - |
| Earnings Per Share, Basic | 27.7% | 29.59 | 23.39 | 12.66 | 19.33 | 31.25 | 46.98 |
| Earnings Per Share, Diluted | 28% | 28.79 | 22.71 | 12.3 | 18.86 | 30.7 | 46.15 |
| Debt equity ratio | 0.2% | 097 | 076 | 064 | 0 | 067 | 0.01 |
| Debt service coverage ratio | 0.1% | 0.0455 | 0.0449 | 0.039 | 0 | 0.0804 | 0 |
| Interest service coverage ratio | 0.1% | 0.0377 | 0.0363 | 0.0301 | 0 | 0.0737 | 0 |
| 60 |
| Other income | 37.9% | 11 | 8.25 | 18 | 44 | 39 |
| Total Expenses | 29.7% | 3,549 | 2,736 | 1,821 | 1,458 | 892 |
| Employee Expense | 43.8% | 772 | 537 | 391 | 275 | 164 |
| Finance costs | 114% | 292 | 137 | 90 | 70 | 40 |
| Depreciation and Amortization | 106.2% | 100 | 49 | 29 | 18 | 17 |
| Fees and commission expenses | 1.7% | 825 | 811 | 641 | 550 | 363 |
| Impairment on financial instruments | -80.9% | 2.5 | 8.87 | 4.17 | 11 | 34 |
| Other expenses | 30.6% | 1,559 | 1,194 | 665 | 533 | 273 |
| Profit Before exceptional items and Tax | 7.6% | 1,634 | 1,519 | 1,181 | 823 | 398 |
| Total profit before tax | 7.6% | 1,634 | 1,519 | 1,181 | 823 | 398 |
| Current tax | 8.9% | 405 | 372 | 294 | 206 | 111 |
| Deferred tax | 0% | 13 | 13 | 5.7 | 2.16 | -2.88 |
| Tax expense | 8.6% | 418 | 385 | 299 | 208 | 108 |
| Total profit (loss) for period | 7.3% | 1,216 | 1,133 | 882 | 615 | 290 |
| Other comp. income net of taxes | -58.4% | -3.69 | -1.96 | -1.41 | -0.98 | -1.16 |
| Total Comprehensive Income | 7.2% | 1,212 | 1,131 | 880 | 614 | 289 |
| Reserve excluding revaluation reserves | 88.9% | 5,508 | 2,916 | 2,031 | 1,463 | 1,020 |
| Earnings Per Share, Basic | -0.1% | 134.91 | 135.11 | 105.9 | 74.52 | 37.76 |
| Earnings Per Share, Diluted | -0.9% | 131.57 | 132.7 | 104.13 | 73.25 | 37.49 |
| -1.4% |
| 3.13 |
| 3.16 |
| 3.19 |
| 3.22 |
| 3.2 |
| 3.28 |
| Property, plant and equipment | -5.7% | 383 | 406 | 388 | 343 | 192 | 134 |
| Capital work-in-progress | - | 0.84 | 0 | 0 | 0 | 50 | 62 |
| Total non-financial assets | -12.9% | 566 | 650 | 531 | - | - | - |
| Total assets | 8.8% | 18,310 | 16,823 | 18,333 | 13,321 | 10,769 | 7,423 |
| Equity share capital | 1.1% | 91 | 90 | 90 | 84 | 84 | 83 |
| Total equity | 4.2% | 5,831 | 5,598 | 5,257 | 3,000 | 2,565 | 2,115 |
| Debt securities | 213.4% | 2,737 | 874 | 1,226 | 133 | 60 | 28 |
| Borrowings | -33% | 1,681 | 2,508 | 1,884 | 2,520 | 1,495 | 759 |
| Total financial liabilities | 10.9% | 12,328 | 11,118 | 12,929 | - | - | - |
| Current tax liabilities | - | 30 | 0 | 47 | 0 | 20 | 7.3 |
| Provisions | 10.8% | 42 | 38 | 30 | 22 | 19 | 16 |
| Total non financial liabilities | 41.5% | 151 | 107 | 147 | - | - | - |
| Total liabilities | 11.2% | 12,479 | 11,225 | - | 10,321 | 8,204 | 5,308 |
| Total equity and liabilities | 8.8% | 18,310 | 16,823 | 18,333 | 13,321 | 10,769 | 7,423 |
| 0.66 |
| - |
| Purchase of property, plant and equipment | -17.4% | 148 | 179 | 95 | 54 | - |
| Purchase of intangible assets | -82.8% | 5.47 | 27 | 19 | 3.68 | - |
| Purchase of intangible assets under development | - | 0.38 | 0 | 0 | 12 | - |
| Interest received | - | 0 | 0 | 0.02 | 0.25 | - |
| Other inflows/outflows of cash | 267.5% | 2.47 | 1.4 | 2.57 | 30 | - |
| Net Cashflows From Investing Activities | 72.5% | -151.49 | -553.09 | -97.92 | -39.17 | - |
| Proceeds from issuing shares | 11515.4% | 1,511 | 14 | 11 | 23 | - |
| Proceeds from borrowings | 47.5% | 4,441 | 3,011 | -472.33 | 91 | - |
| Repayments of borrowings | 213.8% | 3,581 | 1,142 | 0.31 | 0.4 | - |
| Payments of finance lease liabilities | - | - | 0 | 1.8 | 2.83 | - |
| Payments of lease liabilities | 711.6% | 7.98 | 1.86 | 0 | 0 | - |
| Dividends paid | -100.3% | 0 | 324 | 376 | 209 | - |
| Interest paid | 133.9% | 256 | 110 | 68 | 65 | - |
| Other inflows (outflows) of cash | - | -341.57 | 0 | 0 | 0 | - |
| Net Cashflows From Financing Activities | 22% | 1,766 | 1,448 | -907.06 | -163.14 | - |
| Net change in cash and cash eq. | -130.3% | -197.15 | 656 | -289.01 | 350 | - |