Share price of this mid-cap stock fell by nearly 6.3 percent on BSE to Rs. 2,970.15 in the trading session of Thursday, compared to its previous close of Rs. 3,170.25, after the company announced a drop in Gross Client Acquisition in its monthly business updates.
With a market capitalisation of Rs. 25,626 crores, at 11:12 a.m. the shares of Angel One Limited were trading in the red at Rs. 3,043.05, down by 4.04 percent.
The company has delivered about 160.6 percent of multibagger returns in the last one year and nearly 63.8 percent in the last six months. However, so far in 2024, it has given negative returns of around 15.02 percent.
According to recent regulatory filings with the stock exchanges, from 10.1 lakh clients in February 2024 to 8.4 lakh clients in March 2024, Angel One’s Gross Client Acquisition fell by 16.8% on a month-on-month basis.
However, the company’s Gross Client Acquisition witnessed growth in March by 88 percent on a year-on-year basis.
The overall Client Base jumped by 3.8 percent on a month-on-month basis and stood at 2.22 crore in March 2024, compared to 2.14 crore in February 2024; on a year-on-year basis, it increased by 61.5 percent from 13.7 crore in March 2023.
Further, the brokerage firm reported a 23.4 percent month-on-month decline in the number of orders in March 2024, which might have also been influenced by the reduced number of trading days during the month. In contrast, the number of orders jumped by 41.9 percent from March 2023.
Due to holidays, there were only 18 trading days in March 2024 as compared to 21 trading days in February 2024 and March 2023.
In addition, the Average Daily Orders of Angel One fell from 82.2 lakh in February 2024 to 73.5 lakh in March 2024, a 10.6 percent decrease.
The company’s overall Average Daily Turnover for Q4 FY23-24 grew by 23.3 percent from Q4 FY22-23 and was up by 140 percent from FY22-24 on a year-on-year basis.
In Q4 FY23–24, the company’s overall Average Daily Turnover increased by 23.3 percent from Q4 FY22–23 and by 140 percent from FY22–24 on a year-on-year basis.
In terms of financials, the company’s revenue from operations grew by nearly 41.4 percent YoY from Rs. 749 crore in Q3 FY22-23 to Rs. 1,059 crore in
Q3 FY23-24, accompanied by an increase in the net profit by 14.03 percent from Rs. 228 crore to Rs. 260 crore during the same period.
Started in 1996, Angel One Limited is a retail broking house in India and is primarily engaged in the business of providing broking and advisory services, margin funding, loans against shares, and financial product distribution to clients under the brand Angel Broking.
The company operates in three segments: Broking and related services, Finance and related activities, and Health and allied fitness activities.
Written by Shivani Singh
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