Conference Call with Angel One Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q4FY26 results Consolidated Total Gross Revenues: Rs 14,672 million in Q4FY26 vs Rs 13,377 million in Q3FY26, a growth of 9.7% on QoQ basis. Consolidated EBDAT: Reported EBDAT of Rs 4,728 million in Q4FY26 vs Rs 4,050 million in Q3FY26, a growth of 16.7% on QoQ basis. Reported EBDAT Margin (as % of Total Net Income) stood at 41.7% in Q4FY26 vs 39.4% in Q3FY26. EBDAT (Broking & Distribution (MF + Credit) Businesses) at Rs 4,996 million in Q4FY26 vs Rs 4,336 million in Q3FY26, a growth of 15.2% QoQ. EBDAT Margin (Broking & Distribution (MF + Credit) Businesses) stood at 44.6% in Q4FY26 vs 43.0% in Q3FY26. Consolidated Profit After Tax: Reported PAT of Rs 3,202 million in Q4FY26 vs Rs 2,687 million in Q3FY26, a growth of 19.2% on QoQ basis. Reported PAT (Broking & Distribution (MF + Credit) Businesses) at Rs 3,514 million in Q4FY26 vs Rs 3,010 million in Q3FY26, a growth of 16.7% QoQ Broking: Average Client Funding Book remained stable at Rs 58.5 bn in Q4FY26 Non-Broking: Unique SIPs registered in Q4FY26: 2.1 million. Credit disbursal in Q4FY26 came in at Rs 6.1 bn, a de-growth of 14.7% QoQ Wealth Management: AUM stood at Rs 100.8 billion as of March 2026, up 22.7% QoQ. The client base expanded to over 1,900 clients Asset Management: Launched 2 new schemes in Q4FY26, taking the total number of schemes to 11. AUM stood at Rs 3.6 billion as of March 2026. Dinesh Thakkar, Chairman & Managing Director, said: “India’s financial participation continues to deepen, driven by rising financial awareness, a young population entering formal markets at scale and strong adoption of digital platforms. Angel One is proactively aligning to this shift through disciplined execution, strengthening its core business while scaling new growth engines. Business performance for the quarter reflected an improvement in client activity, average daily orders and operating margins returning to our guided range, reinforcing our confidence in the structural drivers of the core business. Early progress across new businesses is helping us to expand our ecosystem, deepening client relationships and support our long-term platform strategy. Our ambition is to build a unified, technology-led financial platform that supports the entire lifecycle of our clients — from investing to wealth creation and access to credit solutions. Looking ahead, we are well positioned to participate at scale in the next phase of growth in India’s financial services market, driven by both increasing participation and deeper engagement.” Ambarish Kenghe, Group CEO, said: “Q4FY26 marked a very strong overall performance with our gross revenues growing by ~39% YoY, EBDAT margin expanding to ~42% and Profit after Tax increasing by 83% YoY to Rs 3.2 billion, driven by normalisation of client activity. Average daily orders scaled from a low of 5.0 million in February ’25 to 7.4 million in March ’26, thus taking the aggregate order count to 431 million for the quarter, marking a six-quarter high, reflecting resilient performance despite a softer macro environment. FY26 was a defining year for us as we focused on adopting AI to build efficiencies, both for the client and the organisation. During the quarter we elevated Ask Angel into a conversational AI-driven assistant, helping clients resolve queries, explore IPOs and access stock insights. AI is increasingly shaping how we build, with ~25% of the total committed code being AI generated today, reducing development timelines, hence improving time to market. AI is now embedded across multiple efficiency led initiatives, including grievance email and ticket automation, real time e-signature validation, internal data analyst agent and onboarding KYC face match, etc. enhancing overall client experience on the platform. Our emerging businesses continues to grow with discipline. Credit, Mutual Funds, Wealth and Asset Management—are scaling steadily, supported by increasing adoption from clients. Wealth management, in particular, continues to show strong momentum with AUM reaching ~Rs 101 billion, a 23% QoQ growth. Here too, AI is playing an important role, 80% of Ionic Wealth’s codebase is AI-generated, accelerating development and enabling faster innovation. Our focus remains on disciplined execution, technology leadership and earning client trust. Our foundations are strong, our capabilities are compounding and we remain well positioned to create long term sustainable value.” Result PDF
Conference Call with Angel One Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q3FY26 results Consolidated Total Gross Revenues Rs 13,377 million in Q3FY26 vs Rs 12,042 million in Q2FY26 , a growth of 11.1% on QoQ basis. Consolidated EBDAT: Reported EBDAT of Rs 4,050 million in Q3FY26 vs Rs 3,246 million in Q2FY26, a growth of 24.8% on QoQ basis. Reported EBDAT Margin (as % of Total Net Income) stood at 39.4% in Q3FY26 vs 34.5% in Q2FY26. EBDAT (Broking & Distribution (MF + Credit) Businesses) at Rs 4,336 million in Q3FY26 vs Rs 3,461 in Q2FY26, a growth of 25.3% QoQ. EBDAT Margin (Broking & Distribution (MF + Credit) Businesses) stood at 43.0% in Q3FY26 vs 37.7% in Q2 ’26. Consolidated Profit After Tax: Reported PAT of Rs 2,687 million in Q3FY26 vs Rs 2,117 million in Q2FY26, a growth of 26.9% on QoQ basis. Reported PAT (Broking & Distribution (MF + Credit) Businesses) at Rs 3,010 million in Q3FY26 vs Rs 2,363 in Q2FY26, a growth of 27.4% QoQ. Broking: Client Funding Book scaled to Rs 58.6 billion as of December 2025, a 10.4% QoQ growth. Non-Broking: Unique SIPs registered in Q3FY26: 2.3 million Credit disbursal in Q3FY26 at Rs 7.1 billion, a growth of 55.7% QoQ. Wealth Management: AUM rose by 33.7% QoQ to Rs 82.2 billion as of December 2025. Client base grew to more than 1,600. Asset Management: Launched 2 new schemes in Q3FY26, taking the total to 9 schemes. AUM as of December 2025 stood at Rs 4.7 billion. Dividend & Stock Split: The Board has approved first interim dividend of Rs 23.00 per share The Board has approved a stock split from current Rs 10.00 face value per equity share to Rs 1.00 face value per equity share, subject to requisite approvals from the Company’s shareholders, and statutory, regulatory authorities. Dinesh Thakkar, Chairman & Managing Director, said: “India’s financialization journey continues to drive strong structural tailwinds, unlocking the long-term growth opportunity. As a technology-led financial services platform, we are supporting clients across their financial journey. As our product suite expands and clients mature, engagement and wallet share continue to deepen. New businesses will scale at their own pace, but their contribution to client longevity and unit economics is already visible. We continue to invest responsibly in growth, efficiency and AI, while maintaining strong cybersecurity and governance standards. Regulatory stability has supported the overall market growth. The Board has also approved an interim dividend of Rs 23 per share and 1:10 stock split. Our focus remains on disciplined execution, responsible technology adoption and keeping clients atthe centre of our model.” Ambarish Kenghe, Group CEO, said: “At Angel One, we believe sustained value is created by investing ahead of the curve, strengthening technology, deepening talent and scaling new business lines. Our deliberate investments across wealth, asset management and credit are now reflecting in our performance, even as we continue to build on these verticals. Technology and AI remain key drivers of growth and efficiency. This quarter, we launched the beta of our in-house Data Analyst Agent and began adopting Agentic AI across our development lifecycle reducing decision and execution time, boosting productivity and helping us stay ahead. Our direct and assisted channels remain strong, supported by a nationwide base of 10,000+ APs and 11,000+ MFDs. We delivered our highest-ever orders in commodities at 35 million and Rs 1.7 trillion ADTO. Our emerging businesses continue to scale well, supported by strong SIP momentum and a 56% QoQ rise in credit disbursements to Rs 7.1 billion, translating into a Rs 28 billion annual run rate. Despite a challenging regulatory environment, our broking and distribution EBDAT margin improved to 43%, underscoring the strength of our business model. Wealth and Asset Management also progressed, with Ionic AUM crossing Rs 82 billion and AMC AUM reaching Rs 4.7 billion. We remain focused on building an AI native, full stack financial services platform— supported by strong foundations and a clear path to long term value creation.” Result PDF
Conference Call with Angel One Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q2FY26 results Consolidated Total Net Revenues: Rs 9,410 million in Q2FY26 vs Rs 8,913 million in Q1FY26, a growth of 5.6% on QoQ basis Consolidated EBDAT: Reported EBDAT of Rs 3,246 million in Q2FY26 vs Rs 1,944million in Q1FY26, a growth of 67.0% on QoQ basis. Reported EBDAT Margin (as % of Total Net Income) stood at 34.5% in Q2 ’26. Consolidated Profit After Tax: Reported PAT of Rs 2,117 million in Q2FY26 vs Rs 1,145 million in Q1FY26, a growth of 85.0% on QoQ basis. Adjusted PAT at Rs 2,117 million in Q2FY26 vs Rs 1,922 in Q1FY26, a growth of 10.1% QoQ. Broking: Average Client FundingBook was Rs 53.1 billion in Q2FY26 Emerging Businesses: Unique SIPs registered grew by 23.8% QoQ to 2.4 million. Credit disbursal increased by 97.0% QoQ to Rs 4.6 billion Wealth Management: AUM increased by 21.3% QoQ to Rs 61.4 billion as of September 2025. Client base expanded to over 1,250. Asset Management: Launched 2 new offerings in Q2FY26, taking the total count to 7 schemes AUM increased by 16.8% QoQ to Rs 4.0 billion as of September 2025. Total folios increased by 50.4% QoQ to over 138k. Dinesh Thakkar, Chairman & Managing Director said: “Fintech platforms like us are reshaping how India invests, borrows and builds wealth. Our AI-driven platform bridges the formal and informal financial worlds, delivering personalized journeys at scale. With new products and annuity revenues emerging, Angel One is well positioned to lead India’s fintech evolution and empower long-term wealth creation. We are building Angel One to grow with every client’s financial journey – intelligent, responsive and designed to empower a billion lives.” Ambarish Kenghe, Group CEO said: “We continue to strengthen client engagement through technology, data and design. AI is at the core of this transformation. Our in-house built chatbot, Ask Angel, is now live, resolving more queries instantly and with higher accuracy. We are also responding to a significant percentage of support emails using AI. We have streamlined the entire client journey and enhanced partner experiences, driving deeper engagement and higher lifetime value. Our client base, on the platform, crossed 34 million with over 1.7 million new clients added this quarter. Our share in overall retail equity turnover increased by 71 bps to 20.5% — a testament to the resilience and scalability of our model. Momentum across businesses remains strong — Mutual fund SIPs touched record high, credit disbursals nearly doubled and Ionic Wealth crossed over Rs 61 billion in AUM. Our focus remains on scaling with technology, trust and transparency. We are excited to set up a branch in GIFT City, a strategic move that opens new growth avenues. Our total orders grew by 5.0% QoQ to 360 million and average client funding book grew to an all time high of over Rs 53 billion, driving our total net income higher by 5.6% QoQ to Rs 9.4 billion. Our reported net profit grew by 85.0% QoQ to Rs 2.1 billion. Our expanding product universe, deep AI capabilities and unified digital ecosystem positions us well in India’s digital financial services landscape.” Result PDF
Conference Call with Angel One Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.