Leading Indian retail full-service broking company Angel One’s shares recorded a notable increase of 10.53% in early morning trade on Tuesday, October 15, reaching ₹3,010 per share. For the first time since mid-April, the stock price crossed the ₹3,000 per share threshold. The company’s best-ever quarterly performance for the three months ended September 2024 (Q2 FY25) was followed by this astounding rise.
Due to better-than-expected operational efficiency, the company achieved a net profit of ₹423 crore in Q2FY25, reflecting a noteworthy 44.36% quarter-on-quarter (QoQ) rise and a 39.14% YoY improvement. Its overall operating revenue for the second quarter of FY25 increased 7.8% on a QoQ basis and 44.56% on an annual basis, coming in at ₹1,515 crore.
The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 51.5% to ₹671.9 crore, with a 210 basis point increase in the EBITDA margin to 44.4% from 42.3% in the previous year.
Three million more customers joined Angel One throughout the quarter. The company’s clientele grew to 27.5 million as of September 2024, a 61% YoY rise and an 11.2% QoQ increase.
The company processed 489 million orders in 2QFY24, a 44.5% YoY growth in terms of transactions. In Q2 FY25, its average daily turnover (ADTO) increased to ₹45.4 trillion, showing a 53.2% YoY and 3.7% QoQ increase. According to the company’s exchange filing, Angel One also showed its strength in the retail turnover market share, achieving 19.3% in Q2FY25, a 42-basis point improvement in QoQ and a 282 bps jump on a YoY basis.
With a 79-basis point YoY gain, the company’s share of NSE Active Clients increased to 15.4% during the quarter, retaining its ranking as No. 2 in Incremental NSE Active Clients. Moreover, after the September quarter, Angel One’s percentage of the nation’s demat accounts was 15.7%, a notable rise of 251 basis points YoY.
The stock grew exponentially between February 2023 and December 2023, resulting in an astounding return of 247%. However, after this increasing trend, there was a substantial decline that continued until July 2024 and caused the stock to lose 44% of its value. The stock began to show signs of life in August 2024, rising noticeably by 19.4%.
Although it ended September at zero, it has increased by 17% so far this month. The stock has recovered somewhat, although it is still roughly 23.3% behind its all-time high of ₹3,896 reached in January 2024.
