Conference Call with Angel One Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q4FY24 results: Financial Performance: - Total Income for Q4FY24 was Rs 13,585 million, a quarterly increase of 28%. - EBDAT (Earnings Before Depreciation, Amortization, and Taxes) reached Rs 4,755 million in Q4FY24, up 30.6% QoQ. - PAT (Profit After Tax) stood at Rs 3,400 million in Q4FY24, increasing by 30.6% from Q3FY24. Client Base and Acquisition: - Total client base expanded to 22.2 million, a 14.3% increase from the previous quarter, and a 61.5% increase year-over-year. - Gross Client Acquisition in Q4FY24 was 2.9 million, signifying a 17.2% increase over the last quarter and a 123.7% growth compared to the previous year. - Angel One's share in India’s Demat Accounts rose to 14.7%, up by 72 basis points within the quarter and 266 basis points annually. - The NSE Active Client Base is now at 6.1 million, marking a 14.5% increase from the previous quarter and a 42.7% rise year-over-year. Client Activity: - Number of Orders processed reached a record 471 million in Q4FY24, a 34.5% increase from Q3FY24. - The NSE Active Client Rank is maintained at 2nd, with their share in NSE Active Client at 15.0%, increasing by 24 basis points from the last quarter. Trading Volumes: - Average Daily Turnover (ADTO) was Rs 44.4 trillion in Q4FY24, a surge of 23.3% from Q3FY24. - The Turnover Market Share for Equity (based on Option Premium) stood at 18.1% for Q4FY24, an increase of 83 basis points from the previous quarter. Commenting on Angel One’s performance, Dinesh Thakkar, Chairman & Managing Director said, "Angel One has always focused on innovation to fulfill its unwavering commitment to client-centricity. In the journey we have traversed, Angel One has achieved many milestones and garnered trust from its clients. FY24’s performance resonates the same, as we delivered a historic performance yet again. We have built a solid roster of clients, with strong behavioral traits, who not only transact with us but also advocate for us, with each cohort consistently giving us revenues every year. We recently completed a capital raise of Rs 15 billion to capitalize on the business for future growth. We are delighted to share that Angel One has once again delivered a historic performance during the quarter, as we clocked our highest ever quarterly gross client acquisition at 2.9 million, expanding our client base to over 22 million. Our clients executed over 470 million orders during the quarter, which is also our lifetime high, facilitating our best quarterly financial performance.” Result PDF
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.