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
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