Angel One shares gain 2% as February business update shows client base up 21%. Check details

Shares of Angel One rose as much as 2.2% to their day’s high of Rs 230 on the BSE on Friday after its client base increased to 36.93 million compared to 30.58 million in the previous year, marking a growth of 20.8% YoY. Gross client acquisition also rose to 0.57 million from 0.49 million, reflecting a 17.8% YoY increase.

The average client funding book expanded significantly to Rs 59.33 billion from Rs 40.53 billion, registering a growth of 46.4% YoY. Trading activity also strengthened during the period, with the total number of orders rising to 144.01 million from 99.27 million, up 45.1% YoY.

Average daily orders increased to 6.86 million compared to 4.96 million earlier, reflecting a 38.25% YoY rise.

Angel One’s average daily turnover (ADTO) based on notional turnover stood at Rs 55.74 lakh crore in February, compared with Rs 29.59 lakh crore a year ago, reflecting an 88.4% YoY increase. The figure declined 13% sequentially from Rs 64.08 lakh crore in January.

Within this, F&O ADTO came in at Rs 54.13 lakh crore, up 87.4% YoY but down 13.3% month-on-month.

Based on option premium turnover, overall ADTO stood at Rs 1.78 lakh crore, compared with Rs 0.83 lakh crore a year earlier, marking a 113.5% YoY growth. F&O premium turnover stood at Rs 0.164 lakh crore, up 36.7% YoY.

In other segments, cash ADTO stood at Rs 0.078 lakh crore, rising 28.3% YoY, while commodity ADTO came in at Rs 1.535 lakh crore, more than doubling from Rs 0.651 lakh crore a year earlier.

Angel One Q3 snapshot

The company reported a 4% year-on-year decline in consolidated net profit at Rs 269 crore for the quarter ended December 2025.

Sequentially, revenue rose 11% to Rs 1,336 crore from Rs 1,204 crore in the September quarter, driven by increased market participation, improved client activity, and stronger contributions from non-broking verticals such as distribution, credit, and wealth management.

Earnings before depreciation, amortisation, and taxes (EBDAT) stood at Rs 405 crore, up 24.8% quarter-on-quarter from Rs 325 crore. The EBDAT margin expanded to 39.4% from 34.5% in Q2FY26, supported by higher operating leverage and improved cost efficiency.

The broking and distribution segment, which includes mutual fund and credit operations, reported EBDAT of Rs 434 crore for the quarter, marking a 25% sequential increase from Rs 346 crore in Q2.

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