Conference Call with Angel One Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q1FY24 results: Average Daily Turnover(ADTO): Rs 22.7 trillion in Q1FY24 vs Rs 18.5 trillion in Q4FY23, a growth of 23% on QoQ basis Rs 22.7 trillion in Q1FY24 vs Rs 9.4 trillion in Q1FY23, a growth of 142% on YoY basis Consolidated Total Gross Revenues: Rs 8,111 million in Q1FY24 vs Rs 8,311 million in Q4FY23, lower by 2% on QoQ basis Rs 8,111 million in Q1FY24 vs Rs 6,845 million in Q1FY23, a growth of 18% on YoY basis Consolidated EBDAT: Rs 3,056 million in Q1FY24 vs Rs 3,705 million in Q4FY23, lower by 18% on QoQ basis EBDAT Margin (as % of Net Income) stood at 48.6% in Q1FY24 Rs 3,056 million in Q1FY24 vs Rs 2,491 million in Q1FY23, a growth of 23% on YoY basis Consolidated Profit After Tax From Continuing Operations: Rs 2,208 million in Q1FY24 vs Rs 2,670 million in Q4FY23, lower by 17% on QoQ basis Rs 2,208 million in Q1FY24 vs Rs 1,816 million in Q1FY23, a growth of 22% on YoY basis Dividend: The Board of Directors has recommended a dividend of Rs 9.25 per equity share of Rs 10/- each, as an interim, equivalent to 35% of consolidated profit after tax for the quarter Commenting on Angel One’s performance, Dinesh Thakkar, Chairman & Managing Director said, "Angel One continues to deliver a strong performance, as we surpassed the 15 million clients’ mark, achieved our highest ever market share across retail overall equity turnover and NSE active clients. We continued to invest in technology and product, as we refine client experience on all our digital platforms, and roll out key functionalities and enhancements regularly. This led to a significant improvement in overall NPS, to a historic high. I am happy to share that Angel One features in the Top-15 club of free finance apps across Playstore and Appstore, as we compete with banking, payment, lending, and wealth apps. As a dominant retail-focused Fintech platform, we are expanding our financial services playbook. Our direct mutual fund journey on the Super App met with resounding success as we witnessed a 4-fold growth in registered SIPs, to become amongst the top 2 players in India, in terms of incremental registered SIPs. We are in the process of building partnerships to operationalise the distribution of consumer credit products during the current year. We are augmenting our data analytics capabilities to harness the benefit of big data through our AI/ML capabilities and leverage the huge data lake. We plan to utilize this strength to cover our vast affiliate channel and build greater efficiencies there. In our pursuit to become India’s most trusted and preferred Fintech brand, we will continuously explore opportunities that are synergic to this objective. In this context, we are also exploring inorganic acquisition and partnership opportunities, which could enhance and complement our existing and future offerings. It gives me great pleasure to announce that we have been ranked 52nd amongst the top 100 Best Companies to Work for in India, by the “Great Place to Work” Institute, besides topping the Fintech Category and also being amongst the top 25 in the BFSI sector.” Result PDF
Conference Call with Angel One Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q4FY23 results: Consolidated Q4FY23: Average Daily Turnover(ADTO) of Rs 18.5 trillion in Q4FY23 vs Rs 14.5 trillion in Q3FY23, a growth of 27.7% on QoQ basis. Total Gross Revenues of Rs 8,311 million in Q4FY23 vs Rs 7,597 million in Q3FY23, a growth of 9.4% on QoQ basis. EBDAT of Rs 3,705 million in Q4FY23 vs Rs 3,099 million in Q3FY23, a growth of 19.6% on QoQ basis. EBDAT Margin (as % of Net Income) expanded to 57.5% in Q4FY23 Profit After Tax From Continuing Operations of Rs 2,670 million in Q4FY23 vs Rs 2,280 million in Q3FY23, a growth of 17.1% on QoQ basis. Consolidated FY23: ADTO of Rs 13.6 trillion in FY23 vs Rs 6.5 trillion in FY22, a growth of 110.4% on YoY basis. Total Gross Revenues of Rs 30,211 million in FY23 vs Rs 22,971 million in FY22, a growth of 31.5% on YoY basis. EBDAT of Rs 12,221 million in FY23 vs Rs 8,554 million in FY22, a growth of 42.9% on YoY basis. EBDAT Margin (as % of Net Income) expanded to 53.3% in FY23 Profit After Tax From Continuing Operations of Rs 8,902 million in FY23 vs Rs 6,251 million in FY22, a growth of 42.4% The Board of Directors have recommended a dividend of Rs 13.6/- per equity share of Rs 10/- each, as a combination of interim and final dividend, equivalent to 43% of consolidated profit after tax for the quarter Commenting on Angel One’s performance, Dinesh Thakkar, Chairman & Managing Director said, "FY23 has a been a strong year for Angel One. The Company has delivered on all operating parameters. The fundamental principle at Angel One has always been to stay focused on unit economics and run a profitable business, keeping clients at the centre while enhancing their experience and “wow” quotient with the Angel One app. The business model is geared towards on-boarding young cohorts, who have limited access to capital markets. These young digital natives have a long runway in their careers with sustainable revenue potential. Angel One through its Super-App strategy is well positioned to partner and offer multiple products. The business model is robust to deliver profitable unit economics across all cohorts. The robustness of our FinTech model demonstrates a very healthy LTV:CoA of 7.8x based on the first 3 years of aggregate client revenues. As clients increase their engagement on the platform, the LTV:CoA will have a long runway of growth. The Board has declared aggregate dividend of Rs. 3.3 bn in FY23, translating to payout of 37% of Profit After Tax. Investments in augmenting technology and talent pool will continue at Angel One, thus enabling the business to reach its aspiration of being the most trusted fintech brand, empowering a billion lives, leveraging the power of data and technology." Result PDF