Angel One Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
Angel One reported Q1 FY27 consolidated revenue of Rs 14.3 billion, up 25.4% year-on-year but down 2.3% sequentially, with consolidated profit after tax rising 102.1% year-on-year to Rs 2.3 billion. Management attributed the sequential moderation in margins to seasonal factors including annual increments, fresh ESOP grants, and IPL-related marketing expenses, noting normalized EBDAT margin was 43.6% versus 44.4% in the prior quarter. The company also discussed growth in its credit distribution, wealth management AUM, and asset management business, while fielding questions on client acquisition trends, employee costs, and a customer complaint about restricted stock trading baskets.
Angel One reported a sequential recovery in trading activity for Q4 FY26, with average daily orders rising from 5 million in February 2025 to 7.4 million in March 2026 and gross income growing 9.7% quarter-on-quarter to Rs 14.7 billion. Reported EBDAT margin expanded to 41.7%, and management said normalized margin, excluding one-time items and IPL spend, improved to 44.4%. Management also discussed a one-time client reimbursement of Rs 192 million related to an external market infrastructure disruption, and outlined plans to infuse capital into its wealth management and NBFC platforms.