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
Conference Call with Angel One Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Angel One announced Q3FY23 results: Q3FY23: Client Additions Angel One continued to witness strong gross addition of ~1.0 mn clients in Q3FY23, crossing the 12.5 mn mark in total client base during the quarter Consolidated Total Income Rs 7,597 mn in Q3FY23 vs Rs 7,459 mn in Q2FY23 , a 1.9% growth on QoQ basis Consolidated EBDAT Rs 3,099 mn in Q3FY23 vs Rs 2,926 mn in Q2FY23, a growth of 5.9% on QoQ basis EBDAT Margin (as % of Net Income) stood at 53.9% in Q3FY23 Consolidated Profit After Tax From Continuing Operations Rs 2,280 mn in Q3FY23 vs Rs 2,136 mn in Q2FY23, a growth of 6.8% on QoQ basis Dividend The Board of Directors has recommended a dividend of Rs 9.60 per equity share of Rs 10 each, as a third interim dividend, equivalent to 35% of consolidated profit after tax, for the quarter. Commenting on Angel One’s performance, Mr. Dinesh Thakkar, Chairman MD said, “India’s robust economic policies make it one of the best investment destinations globally. This coupled with continuously evolving regulatory environment, have been the driving force for higher retail participation in the country. India’s Capital Market created a milestone as the total demat base grew to over 108 million as of December ‘22. India’s young demography strongly favours technology assimilation, and Angel’s digital products and engagement tools position us well to cater to them. Through our Super App, we strive to be long-term collaborators in their wealth creation journey, and service all their financial needs through an expanded product bouquet. I am happy to see positive results of our digital strategy, and strongly believe we are well positioned to garner a larger market share of this expanding market. In line with our dividend policy, the Board of Directors have declared a distribution of 35% of the quarters profit, as a third interim dividend to the shareholders.” Commenting on the performance, Mr. Narayan Gangadhar, Chief Executive Officer said, “Angel is amongst the few players to witness consistent growth, both operationally and financially. We continue to gain market share in total demat accounts, to 11.6%; achieved a 12.0% share in NSE active clients and are firmly amongst the top 3 largest new-age digital brokers in India; reported our highest quarterly ADTO with steady orders and turnover market share. Angel is the largest publicly traded, fully digital stockbroker in the country During the quarter, we initiated the rollout of the Android version of our Super App, to the first batch of our clients. The App recorded 100% uptime, which not only added to the overall experience but also led to better Playstore rating and higher NPS. We instituted Mutual Fund services, on iOS, Android and Web platforms. This marks the commencement of the App transitioning to a “True Super App”. Our superior product offering and best-in-class client experience makes Angel a trusted partner for our clients. I believe our App will be the epitome of superlative client experience and will provide them with the most appropriate launchpad to invest in a variety of financial assets." Result PDF