On Wednesday, shares of one of India’s leading full-service retail broking firms surged by 6.6%, reaching ₹2,406.35 per share, after the company’s cash turnover market share rose to 17% on May 24.
At 11:10 a.m., the shares of Angel One Ltd were trading at ₹2,345.95 on the National Stock Exchange, reflecting a 3.93% increase from the previous closing price. The company currently holds a market capitalization of ₹21,128 crore.
According to the company’s exchange filing, the client base increased by 63.3% year-on-year, from 14.59 million in May 2023 to 23.83 million in May 2024. Similarly, the number of orders rose by 75.2%, from 90.60 million in May 2023 to 158.72 million in May 2024.
The company’s average daily orders increased by 83.5%, from 4.12 million in May 2023 to 7.56 million in May 2024. Additionally, gross client acquisition grew by 91% year-on-year, and the company’s cash turnover market share increased to 17.1% in May 2024 from 13.3% in May 2023.
In the fourth quarter of the fiscal year 2024 (Q4FY24), Angel One Ltd posted a consolidated net profit of ₹340 crores, representing a 31% rise from the ₹260 crores reported in the previous quarter (Q3FY24). The company’s total revenue for Q4FY24 surged by 28%, reaching ₹1,357 crores compared to ₹1,059 crores in the same quarter of the previous year.
In Q4FY24, 68% of the company’s revenue came from the broking division, 18% from the interest business segment, 4% from the depository business segment, and 8% from ancillary transaction charges.
Angel One Ltd, a diversified financial services company, saw its client base surge by 86%, growing from 4.6 million in FY23 to 8.5 million in FY24.
The company specializes in stock, commodity, and currency broking, institutional broking, margin trading facilities, depository services, mutual fund distribution, lending as an NBFC, and acting as corporate agents for insurance companies.
In the past six months, Angel One Ltd’s shares have declined by 20%. However, over the last 12 months, they have surged by an impressive 70%.
Written by Omkar Chitnis
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