Angel One Ltd Share Price – NSE  /  BSE

Stock/ Commodity Brokers, Small Cap

Net profit of Angel One rose 27.36% to Rs 339.94 crore in the quarter ended March 2024 as against Rs 266.91 crore during the previous quarter ended March 2023. Sales rose 64.37% to Rs 1357.28 crore in the quarter ended March 2024 as against Rs 825.74 crore during the previous quarter ended March 2023.

For the full year,net profit rose 26.47% to Rs 1125.53 crore in the year ended March 2024 as against Rs 889.95 crore during the previous year ended March 2023. Sales rose 42.31% to Rs 4271.68 crore in the year ended March 2024 as against Rs 3001.59 crore during the previous year ended March 2023.

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The benchmark indices traded with substantial gains in the early afternoon trade. The Nifty climbed above the 22,300 level. Realty shares gained after declining in the past three trading sessions. Trading was volatile due to the expiry of weekly index options on the NSE.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 487.57 points or 0.67% to 73,431.25. The Nifty 50 index jumped 162.90 points or 0.74% to 22,310.80.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 1.05% while the S&P BSE Small-Cap index gained 1.29%.

The market breadth was strong. On the BSE, 2,572 shares rose and 1,110 shares fell. A total of 136 shares were unchanged.

Economy:

The International Monetary Fund raised India’s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26.

Politics:

India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 3.96% to 12.12. The Nifty 25 April 2024 futures were trading at 22,325.25, at a premium of 14.45 points as compared with the spot at 22,310.80

The Nifty option chain for the 25 April 2024 expiry showed maximum Call OI of 57.5 lakh contracts at the 23,000 strike price. Maximum Put OI of 48.6 lakh contracts were seen at 22,000 strike price.

Buzzing Index:

The Nifty Realty index jumped 1.32% to 950.10. The index fell 2.40% in past three trading sessions.

Brigade Enterprises (up 5.99%), Prestige Estates Projects (up 3.2%), Phoenix Mills (up 3.02%), Macrotech Developers (up 2.57%), Sunteck Realty (up 2.24%), Sobha (up 1.24%), Mahindra Lifespace Developers (up 0.15%) and DLF (up 0.02%) advanced.

Stocks in Spotlight:

Power Grid Corporation of India rallied 3.55% after its board has approved the raising of bonds as POWERGRID bonds issue(s) upto Rs 12,000 crore during FY 2024-25.

Angel One advanced 1.16% after the brokerage company reported 27.34% rise in consolidated net profit (from continuing operations) to Rs 339.95 crore in Q4 FY24 as against Rs 266.97 crore recorded in Q4 FY23.Total income climbed 63.46% to Rs 1,358.54 crore in Q4 FY24 from Rs 831.09 crore recorded in the corresponding quarter previous year.

Biocon gained 2.58% after the company has signed a licensing and supply agreement with Biomm S.A., for the commercialization of Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes.

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Total income climbed 63.46% to Rs 1,358.54 crore in Q4 FY24 from Rs 831.09 crore recorded in the corresponding quarter previous year.

On quarter on quarter (QoQ) basis, the company’s net profit surged 30.58% and total income grew 28.06% in Q4 FY24.

Profit before tax was at Rs 458.79 crore during the quarter, registering a growth of 26.88% YoY and 30.69% QoQ.

Consolidated earnings before depreciation, amortization, & taxes (EBDAT) in Q4 FY24 stood at Rs 475.5 crore (up 28.34% YoY and up 30.6% QoQ). EBDAT margin came in at 44.8% in Q4 FY24 as compared to 57.6% recorded in Q4 FY23 and 44% posted in Q3 FY24.

Total client base improved to 22.2 million, up 14.3% QoQ and 61.5% YoY. Gross client acquisition was at 2.9 million, up 17.2% QoQ and up 123.7% YoY.

Average daily turnover (ADTO) stood at 44,40,000 crore during the quarter (up 23.3% QoQ and 139.9% YoY).

Dinesh Thakkar, chairman & managing director said, “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 the business for future growth.

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.”

Angel One is the largest listed retail stock broking house in India, in terms of active clients on NSE. The company provides broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients. The broking and allied services are offered through online and digital platforms and network of authorized persons.

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Angel One successfully raised Rs 1,500 crore through QIP issue of equity shares with floor price of Rs 2,555.01 per equity share of face value of Rs 10 each.

Commenting on the fund raise, Dinesh Thakkar, Chairman and Managing Director said: “The successful completion of this QIP marks a significant milestone in our journey, as we capitalise the business for its future growth trajectory, thus strengthening our position in the industry. The capital market landscape has undergone significant changes in recent years, with a robust outlook and deepening penetration, driven by digitisation. We are witnessing continuous engagement of Indian retail investors, as evidenced in our performance metrics. Key indicators such as gross client acquisition, number of orders, average dailyturnover, turnover market share and financial performance are consistently creating newer benchmarks. I am grateful to all our investors and stakeholders, for the trust they have placed in our vision. As we embark on this growth journey, I am confident that we are well positioned to continue to seize opportunities and drive success for our company.

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