Angel One Q1 concall highlights -
Unique SIPs registered with Angel One in Q1, Q2,Q3,Q4 FY 23 and Q1 FY24-
0.5lakh, .48 lakh, .57 lakh, 1.08 lakh & 4.3 Lakh !!
Company in No2 in no of SIPs in the mkt
Total Demat accounts in India Today-8.6 pc of population vs 1.7 pc in FY12 !!
NSE ADTO and Trade volumes going up every single year without exception since 2007. No exceptions despite multiple Mkt corrections !!!
Q1 financial outcomes(YoY)-
Revenues-811 vs 684 cr, up 18 pc
Breakdown-
Broking-557 vs 470cr
Interest income-144 vs 121cr
Other-108 vs 92cr
EBDAT - 305 vs 249 cr
PAT - 220 vs 181 cr
Client funding book size - 1139 vs 1594 cr
Avg per client exposure - 1.08 vs 0.97 lakh YoY
Angel One’s incremental client addition in last 4 FYs ( FY 20-23 ) - 5 lakh, 23 lakh, 51 lakh, 46 lakh. Another 13 lakh added in Q1
Mkt share in new client addition - 21 pc !!!
Angel One’s Mkt share in total NSE active client base - 14.3 pc ( as on June 23 ) vs 8.8 pc in Mar 21 - a staggering 545 bps Jump !!!
Segment wise Mkt share(ADTO) -
F&O - 24.6 pc
Cash Mkt - 13.4 pc
Commodity - 56.9 pc !!!
In the process of rolling out Loan Products distribution business from their super app
Angel’s total client base stands at >1.5 cr
Q1 annualised RoE @ 39 pc
Share of revenue Jun 24 vs Jun 22 vs No of years of client acquisition-
29 pc vs 55 pc @ < 1 yr
29 pc vs 18 pc @ 1-2 yrs
22 pc vs 8 pc @ 2-3 yrs
12 pc vs 9 pc @ 3-5 yrs
9 pc vs 10 pc @ > 5 yrs
This data is encouraging as more mature clients are now contributing to far higher share of revenues
Company has a large base of affiliate partners @ > 21k
Budgeted cost for ESOP this yr is 50-55 cr
In the process of obtaining final approval from SEBI for AMC business
Angel is now No 3 in no of NSE active clients. Angel’s Mkt share is around 14 pc vs Mkt leader (Zerodha) @ around 20 pc
Current Qtly revenues from distribution of Financial products is aprox 8 cr
Intend to grow this multi-fold in the next few yrs
In discussion with top banks, NBFCs for distribution of Personal loans. Company to also assist them in providing them customer data using AI models to better access the customer’s risk profile
Company in process of looking out for a new CEO. May take some time to find the right candidate
Company to go live to support BSE’s Bankex and Sensex derivatives by start of Q3
Disc: hold a tracking position. May add more on dips / better results
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