Angel One Limited — Investor Meet, 23-07-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Angel One reported robust Q1 FY26 financial performance, with net revenues up 7.3% QoQ to ₹890 Cr. Normalized PAT grew 26% QoQ to ₹190 Cr, adjusting for IPL spends and variable pay. Total orders rose 4.8% QoQ to 343 million. The company strengthened its market position, adding over 1.5 million clients with a 21.7% incremental acquisition share. Client funding book hit a high of ₹4,800 Cr. Non-broking verticals show strong traction, with 1.9 million new SIPs and ₹230 Cr credit disbursed. Management is confident on operating margins returning to 40-45% by Q4 FY26 exit, driven by continued tech-led growth, AI integration, and India’s vast financial services potential.