Financial Performance Highlights

Standalone Results (Q2 FY27)

  • Total Gross Revenues: ₹14,007 Mn (18.5% YoY growth)
  • Reported EBDAT: ₹5,194 Mn (50.1% YoY growth)
  • Reported EBDAT Margin: 48.9% (1,123 bps YoY improvement)
  • Reported PAT: ₹3,667 Mn (55.2% YoY growth)

Consolidated Results (Q2 FY27)

  • Total Gross Revenues: ₹14,315 Mn (18.9% YoY growth)
  • Reported EBDAT: ₹4,933 Mn (52.0% YoY growth)
  • Reported EBDAT Margin: 45.1% (1,064 bps YoY improvement)
  • Reported PAT: ₹3,350 Mn (58.2% YoY growth)

Operational Metrics

Order Volume (Q2 FY27)

  • Total Orders: 366 Mn (+1.7% YoY, -9.8% QoQ)
  • F&O Orders: 256 Mn
  • Cash Orders: 66 Mn
  • Commodity Orders: 45 Mn

Credit Business

  • Average client funding book: ₹74.5 Bn (40.5% YoY growth)
  • Credit distribution: ₹6.9 Bn (51.8% YoY growth, 30.2% QoQ growth)
  • September 2026 recorded highest-ever monthly credit distribution: nearly ₹2.8 Bn

Distribution Metrics

  • Unique SIP registrations: 1.9 Mn (-19.0% YoY, +11.8% QoQ)

Wealth Management

  • AUM: ₹160.0 Bn (160.5% YoY growth, 19.1% QoQ growth)
  • Client base: exceeded 2,975 as of September 2026

Asset Management

  • AUM: ₹5.7 Bn (41.3% YoY growth, -8.7% QoQ)

Business Metrics at a Glance (Q2 FY27)

User Base Metrics

  • Total user base: 40.0 Mn (+17.3% YoY, +3.6% QoQ)
  • Gross acquisition: 1.5 Mn (-14.1% YoY, +11.6% QoQ)
  • Share in India's demat accounts: 16.6% (+16 bps YoY, -5 bps QoQ)

Assets Metrics

  • Asset Under Custody (Equity + MF): ₹1.7 Trn (+16.1% YoY, -2.9% QoQ)
  • Wealth Management AUM: ₹160.0 Bn (+160.5% YoY, +19.1% QoQ)
  • Asset Management Company AUM: ₹5.7 Bn (+41.3% YoY, -8.7% QoQ)

Transaction Metrics

  • Number of Orders: 366 Mn (+1.7% YoY, -9.8% QoQ)
  • Overall Average Daily Turnover (Premium basis): ₹2.6 Trn (+91.3% YoY, +0.9% QoQ)
  • Share in Retail Overall Equity Turnover: 19.7% (-76 bps YoY, -51 bps QoQ)

Turnover Market Share (Q2 FY27)

  • Overall Equity: 19.7% (vs 20.2% in Q1 '27, 20.5% in Q2 '26)
  • F&O: 22.1% (vs 22.2% in Q1 '27, 21.7% in Q2 '26)
  • Cash: 16.8% (vs 17.4% in Q1 '27, 18.7% in Q2 '26)
  • Commodity: 44.0% (vs 52.3% in Q1 '27, 65.1% in Q2 '26)

Management Commentary

Dinesh Thakkar, Chairman & Managing Director

Described India as witnessing "one of the largest wealth creation opportunities in its history" with technology making financial services more accessible. Stated Angel One is evolving into an AI-powered financial platform serving clients across trading, investing, wealth, credit and global markets. Emphasized objective of helping clients make better financial decisions and achieve aspirations.

Ambarish Kenghe, Group CEO

Noted resilience despite significant changes in India's market structure including revised bank funding norms and introduction of Closing Auction Session in cash equities. Reported average daily orders reached 5.8 million in September 2026, approaching pre-CAS levels. Highlighted increased share of retail equity derivatives turnover to 22.1% (up 43 bps YoY) and commodity turnover more than doubling.

Strategic Developments

  • Began early beta of Loan Against Securities within NBFC
  • Received authorization to operate as Global Access Provider in IFSC
  • AI and ML-powered underwriting and risk models supporting credit distribution
  • Standalone operating margin of 48.9% above guided range