Conference Call with Angel One Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q3FY24 results: Financial Metrics: Total Income: Increased marginally to Rs 10,608 million in Q3FY24 from Rs 10,493 million in Q2FY24, a growth of 1.1% QoQ. EBDAT: Dropped to Rs 3,641 million in Q3FY24 from Rs 4,185 million in Q2FY24, decreasing by 13.0% QoQ. PAT: Declined by 14.5% QoQ to Rs 2,603 million in Q3FY24 from Rs 3,045 million in Q2FY24. Client and Market Share Metrics: Gross Client Acquisition: Added 2.5 million clients in Q3FY24, up by 16.2% QoQ. Total Client Base: Reached 19.5 million, signifying a growth of 14.0% QoQ. Share in India's Demat Accounts: Maintained at 14%. Share in Retail Overall Equity Turnover: Increased by 62 basis points to 26.8% in Q3FY24. Transaction and Trading Metrics: Number of Orders: Rose by 3.5% QoQ to 350 million in Q3FY24. Average Daily Turnover (ADTO): Increased significantly to Rs 36.0 trillion in Q3FY24, a growth of 21.4% QoQ. Dividend: Interim Dividend: The board of Directors approved a dividend of Rs 12.7 per equity share, amounting to 41% of the consolidated profit after tax for Q3FY24. Commenting on Angel One’s performance, Dinesh Thakkar, Chairman & Managing Director said, "Angel One has always focused its efforts to offer clients the most suitable products, seamlessly and efficiently, by harnessing the power of data and technology. Our digital assets are continuously evolving, and enriched with innovative features to ensure an unparalleled investing experience. We undertook process improvements, to ease the onboarding experience and incorporated some unique features, for both new and experienced clients, thus simplifying their investment journey on the app. These focused efforts yielded sustained improvement in our NPS Playstore and Appstore rankings. It is through such exceptional experiences, that clients choose to remain engaged on our platform, over the long term. This has led to constant expansion in our market share, across multiple metrics and maintains very robust unit economics. A testimony to the effectiveness of our Super App strategy, is visible from our accomplishment in distributing Mutual Funds, as we continue to be India’s second-largest player for incremental registered SIPs. We are in the process of expanding our offerings to partner with our clients at every important phase of their lives, as we extend our touchpoints in distributing credit and fixed-income products. Our sustained growth is a testament to the success of our data-driven strategy, as we reap the benefits of a vast pool of data and leverage it to create models using complex algorithms. This equips us to swiftly adapt to market shifts, thus ensuring our strategies remain agile and responsive. We sharpened our focus on our content strategy, forming the bedrock to engage and educate people about various financial products. We will leverage social media, communities, and users to promote awareness, and will be rolling out multiple content initiatives. I am delighted with our historic performance in Q3 ‘24, as we acquired more than a million clients in a month and 2.5 million clients in a quarter for the first time, accounting for nearly a quarter of the industry’s net client addition. In line with our established dividend policy, the Board of Directors has approved the distribution of 41% of the quarter's profit as a third interim dividend, reaffirming our commitment to delivering value to our shareholders." Result PDF
Conference Call with Angel One Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q2FY24 results: 1. Business Performance: - Angel One Limited achieved the highest-ever business performance in Q2FY24 with strong financial and operational metrics. - Total Income reaches Rs 10,493 million, showing significant growth. - Client Acquisition Metrics improved with a 59.8% increase in clients added on a QoQ basis. - Active Client Metrics show a solid growth of 13.3% on a QoQ basis with a total client base of nearly 17.1 million. - Transaction Metrics highlight the company's strong market share in India's demat accounts and retail equity turnover. -The average Daily Turnover increases to Rs 29.6 trillion, demonstrating a growth of 30.3% on a QoQ basis. 2. Dividend Announcement: - Angel One Limited's Board of Directors announces a second interim dividend of Rs 12.70 per equity share, equivalent to 35% of the consolidated profit after tax for the quarter. Commenting on Angel One’s performance, Dinesh Thakkar, Chairman & Managing Director said, "We are delighted to announce that Q2FY24 has marked a historic milestone for us, as we have achieved our best-ever performance across financial and operational metrics. Our unwavering commitment to enhancing our client's experience remains the cornerstone of our growth strategy. We continue to make investments in refining various journeys to ensure a seamless and superior experience. We meticulously fine-tuned the onboarding process and introduced a range of innovative features, resulting in heightened client satisfaction. These efforts have not only elevated our NPS and Playstore rankings but have also expanded our market share in India's demat accounts and retail equity turnover. We curated journeys for our clients, fostering a long-term approach to investing in equities and mutual funds. This strategic focus yielded strong adoption, solidifying our position as the second-largest player in incremental registered SIPs in India. Furthermore, we are systematically broadening our financial services offerings, with plans to close the financial lifecycle loop for our clients by distributing consumer credit products on our platform in the upcoming quarters. To further elevate the client experience, we are harnessing the power of data by building predictive models driven by deep learning of our clients' behavioral patterns. These models are integrated into our systems using AI/ML techniques to craft hyper-personalized journeys, ultimately enhancing client satisfaction and delight. In line with our established dividend policy, the Board of Directors has approved the distribution of 35% of the quarter's profit as a second interim dividend, reaffirming our commitment to delivering value to our shareholders.” Result PDF