Date: June 17, 2026

Meeting Overview

Angel One Limited conducted its 30th Annual General Meeting virtually on Friday, June 12, 2026, at 04:00 p.m. IST through video conferencing facilities provided by NSDL. The meeting was webcast live on NSDL platform and YouTube channel. Remote e-voting commenced on Monday, June 8, 2026, at 9:00 AM and concluded on June 11, 2026, at 5:00 PM, with cut-off date of June 5, 2026.

Board Members & KMP Present

  • Dinesh Thakkar - Chairman
  • Muralidharan Ramachandran - Lead Independent Director, Chairperson of Risk Management Committee, ESG Committee, and Cyber Security and Information Technology Committee; Member of Audit Committee (from Chennai)
  • Mala Todarwal - Chairperson of Audit Committee and Stakeholder Relationship Committee; Member of NRC (from Mumbai)
  • A. K. Sridhar - Independent Director, Chairperson of NRC; Member of Risk Management Committee and Stakeholders Relationship Committee (from Mumbai)
  • Kalyan Prasath - Independent Director; Member of Risk Management Committee, CSR Committee, and Cyber Security and Information Technology Committee (from Mumbai)
  • N. T. Arunkumar - Independent Director; Member of NRC and Cyber Security and Information Technology Committee (from Chennai)
  • Krishna Iyer - Non-Executive Director; Member of Audit Committee, CSR Committee, and ESG Committee (from Pune)
  • Ambarish Kenghe - Group CEO and Whole-Time Director; Member of Risk Management Committee and Cyber Security and Information Technology Committee (from Bengaluru)
  • Amit Majumdar - Whole-Time Director; Member of Stakeholders Relationship Committee (from Mumbai)
  • Vineet Agrawal - Group Chief Financial Officer (from Mumbai)
  • Naheed Patel - Company Secretary and Compliance Officer (from Mumbai)

Also present: Representatives from Statutory Auditor M/s S.R. Batliboi & Co. LLP (Rutushtra Patell and Jaikishan Wadwani), Secretarial Auditor M/s U. Hegde & Associates (Umashankar Hegde), and Scrutinizer M/s MMJB & Associates LLP (Vaibhav Dhanwate).

Financial Results & Business Performance

FY26 consolidated total income stood at Rs. 51,522 million with profit after tax of Rs. 9,151 million. The client base grew to 37.4 million customers, adding 6.9 million new clients during FY26, with 89% of acquisitions coming from Tier 2, Tier 3, and smaller towns. Wealth management business crossed Rs. 100 billion in assets under management as of March 31, 2026.

Strategic Updates & Outlook

The company emphasized its evolution into a technology-led financial service platform beyond broking, including investing, wealth management, asset management, lending, and protection solutions. Key priorities include:

  • Continued investment in AI, digital infrastructure, cyber security, and data capabilities
  • Expansion of product ecosystem across financial services
  • Deepening reach across Tier 2/3 markets and beyond
  • Building a business combining innovation with responsibility

AI implementations mentioned include data analyst agent rollout, Ask Angel for client experience, and AI code generation for operational efficiency.

Shareholder Q&A Highlights

  • Platform Transition: Shareholder Dilip Kumar Jain raised concerns about transition from Odin to web-based platform and inconsistent DP charges across multiple accounts. Management responded that the new platform was built in-house to handle scale (from 0.7-0.8 million to 38 million clients) and committed to address specific issues.
  • Competition & Future Outlook: Shareholder Manoj Kumar Gupta inquired about competition from newly listed companies (mentioning Anand Rathi), future rewards, Middle East impact, and potential demerger/listing of business units. Management expressed optimism about India's financialization journey and stated other units need scale before considering separation.
  • Physical Share Dematerialization: Shareholder Hiranand Kotwani asked about assistance for older investors with physical shares. Management acknowledged it as a tedious process with multiple agencies involved but offered guidance support.
  • Bonus Issue Request: Shareholder suggested bonus issue in addition to previous 10:1 stock split. Management noted bonus is similar to split in creating share quantity without fundamental value creation.

Voting & Procedural Matters

The meeting followed MCA and SEBI circulars for virtual AGMs. E-voting remained open for 15 minutes after meeting conclusion. Scrutinizer's report to be declared within 48 hours and made available on company website, NSDL website, and stock exchange websites.