Angel One rallies 10%, hits all-time high on healthy Q4 results

Shares of Angel One hit an all-time high of Rs 1,793 after they rallied 10 per cent on the BSE in Thursday's intra-day trade on a healthy set of numbers for the quarter ended March 2022 (Q4FY22).

The company, engaged in stock broking & allied services business, surpassed its previous high of Rs 1,782.15 touched on April 11, 2022. At 09:54 AM, it was 6 per cent higher at Rs 1,722, as compared to 0.71 per cent rise in the S&P BSE Sensex. In the past one year, the stock has zoomed 410 per cent, as against 20.5 per cent rally in the benchmark index.

In Q4FY22, the company's profit after tax (PAT) increased 24 per cent quarter on quarter (QoQ) and 94.6 per cent year on year (YoY) at Rs 205 crore, on healthy volume growth. Operating revenue grew a strong 16 per cent QoQ and 77 per cent YoY to Rs 410 crore, driven by a healthy performance across Broking and interest income. Growth in the Broking business was driven by the F&O segment, which saw a strong growth (up 117 per cent YoY and 21 per cent QoQ) at Rs 370 crore.

The management said Angel One experienced its best-ever quarter in Q4FY22, across its operational and financial metrics. The company had the highest gross client addition, best quarterly orders, record-high quarterly revenue and profitability, as the company surpassed the 9-million client mark.

Meanwhile, the financial year 2021-22 (FY22) has been a momentous year where India achieved numerous milestones in capital markets, most notably, highest-ever gross client addition in a year, rising retail participation leading to record high daily turnover.

"Angel One is a perfect play on the financialization of savings, and digitization. It demonstrated a strong performance across key operating parameters in 4QFY22. As guided by the management, it continues to invest in technology and strengthen its position. The client addition trajectory for the industry as well as Angel One will continue, led by stark under penetration. The cyclicality in revenue is much lower for Discount Brokers v/s their Traditional counterparts due to the shift towards a flat fee revenue model," Motilal Oswal Financial Services said in a result update.