Operates a technology-led retail broking and financial services platform serving Indian retail investors. The core franchise executes equity, derivative and commodity orders on the exchanges — Q1 FY27 saw 406 million orders and a 22.2% share of equity-derivatives turnover — generating revenue from brokerage, clearing, demat and allied transaction charges. Beyond core broking, it runs wealth management with ₹134.4 bn in AUM (including UHNI assets of ₹87.3 bn across 263 families), an asset management distribution business with ₹6.2 bn AUM, and a credit-distribution book of ₹5.3 bn (Q1 FY27, up 130% year-on-year). Interest income from the ₹71.5 bn period-end client funding book and distribution fees have grown to roughly 40% of gross revenue per Q1 FY27 disclosure, while an earlier segment snapshot (period ending 2023-03-31) had broking at 99.8% of segment revenue. As of June 2026, the platform had 38.59 million registered clients, with 89% of FY26 additions coming from Tier 2/3 and smaller towns. The largest cost line is employee expense at 20.8% of revenue, followed by other operating expenses at 29.8%, consistent with a people-and-technology platform model. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Broking and related services (100%), Finance and Investing activities (0%), Health and allied fitness activities (0%). Cyclical, technology-led retail broking platform with growing wealth, credit-distribution and AMC distribution arms.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,259 | 3,002 | 4,272 | 5,238 | 5,137 |
| EBITDA (ex other income) | 881 | 1,292 | 1,692 | 1,981 | 1,818 |
| margin % | 39.0 | 43.0 | 39.6 | 37.8 | 35.4 |
| Owners' profit | 625 | 0 | 1,126 | 0 | 915 |
| EPS, as reported (₹) | 75.72 | 106.88 | 134.21 | 130.05 | 10.09 |
| ROE % · ROCE % | 39.4 · — | 41.2 · — | 37.0 · — | 20.8 · — | 14.9 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 558 | 803 | (330) | (1,860) | (4,142) |
| Capex | (54) | (33) | (180) | (150) | (50) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,515 | 1,262 | 1,056 | 1,141 | 1,202 | 1,335 | 1,459 | 1,430 |
| Profit before tax | 572 | 387 | 236 | 164 | 294 | 374 | 440 | 325 |
| Net profit | 423 | 281 | 175 | 114 | 212 | 269 | 320 | 231 |
| EPS (₹) | 46.98 | 31.25 | 19.33 | 12.66 | 23.39 | 29.59 | 3.52 | 2.54 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BILLIONBRAINS GARAGE VN L | 1,24,828 | 50.3 | 12.93 | 42.5 | 21.6 | 28.9 | — | 67.8 |
| MOTILAL OSWAL FIN LTD | 61,810 | 31.2 | 4.77 | 14.5 | 14.5 | — | 20.9 | 57.7 |
| 360 ONE WAM LIMITED | 44,371 | 35.0 | 4.51 | 15.5 | 12.4 | — | 22.0 | 66.8 |
| NUVAMA WEALTH MANAGE LTD | 31,853 | 15.0 | 7.73 | 12.7 | 25.2 | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Angel One schedules analyst and investor meetings in September 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Schedule of analyst and investor meetings announced | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Nippon India MF sells 0.11% stake in Angel One via open market | ownership changes | high | — | — |
| 4 Sept 2026 · Angel One August 2026: client base up, orders down MoM | business updates | medium | — | — |
| 2 Sept 2026 · Angel One grants 48,210 RSUs to 7 employees under LTI Plan 2021 | general | low | — | — |
| 28 Aug 2026 · Allotment of 3,49,058 shares under ESOP plan | capital market events | low | — | — |
| 7 Aug 2026 · Angel One schedules investor meetings in Hong Kong and Mumbai | board shareholder meetings | low | — | — |
| 7 Aug 2026 · Schedule of analyst and institutional investor meetings | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Angel One July 2026: Client base up 18% YoY, ADTO declines MoM | business updates | medium | — | — |
| 31 Jul 2026 · Allotment of 1,68,488 equity shares under ESOP 2021 | capital market events | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| — |
| 53.0 |
| ANGEL ONE LIMITED ◆ | 27,862 | 5.2 | 4.53 | 15.1 | 14.9 | — | 32.4 | 34.2 |
| IIFL CAPITAL SERVICES LTD | 10,617 | 18.4 | 3.46 | 9.9 | 18.4 | — | 25.1 | 50.0 |
| SHARE IND. SECURITIES LTD | 4,335 | 11.9 | 1.63 | 6.5 | 12.2 | — | 26.8 | 45.5 |
| ANAND RATHI SH N STK BR L | 3,101 | 19.5 | 2.30 | 10.1 | 9.6 | 11.5 | — | 31.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.2 | 15.4 | 3 of 37 | 94% |
| P/B | 4.5 | 1.8 | 34 of 40 | 15% |
| ROE | 14.9 | 9.6 | 11 of 40 | 74% |
| Debt / Equity | 0.0 | 0.0 | 1 of 40 | 36% |
| EBITDA margin | 34.2 | 31.2 | 18 of 39 | 55% |
| Revenue growth | 25.4 | 22.4 | 13 of 35 | 65% |
| Profit growth | 102.2 | 13.4 | 5 of 38 | 89% |
| Market cap | 27862 | 507 | 5 of 42 | 90% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
