Angel One share price surges over 10.5% on robust performance in Q2

Shares of Angel One, a leading retail full-service broking firm in India, saw a significant surge of 10.53% during early morning trade on Tuesday, October 15, to ₹3,010 apiece. The stock surpassed the ₹3,000 per share mark for the first time since mid-April. This remarkable increase followed the company’s best-ever quarterly performance for the three months ended September 2024 (Q2 FY25).

The company reported a net profit of ₹423 crore in Q2FY25, reflecting a notable 44.36% quarter-on-quarter (QoQ) increase and a 39.14% YoY improvement due to better-than-expected operational efficiency. Its total revenue from operations for Q2 FY25 witnessed a growth of 7.8% QoQ and a 44.56% YoY surge, reaching ₹1,515 crore.Sha

Its earnings before interest, tax, depreciation, and amortisation (EBITDA) improved by 51.5% to ₹671.9 crore, while the EBITDA margin expanded by 210 basis points to 44.4% from 42.3% last year.

During the quarter, Angel One added 3 million clients. As of September 2024, the company's client base had expanded to 27.5 million, marking an 11.2% QoQ increase and a 61% YoY growth.

In terms of transactions, the company processed 489 million orders in 2QFY24, representing a 44.5% YoY increase. Its average daily turnover (ADTO) surged to ₹45.4 trillion in Q2 FY25, showcasing a 3.7% QoQ and 53.2% YoY jump. Angel One also demonstrated its strength in the retail turnover market share, securing 19.3% in Q2FY25, marking a 42-basis point improvement in QoQ and a 282 bps jump on a YoY basis, as indicated in the company's exchange filing.

Maintaining its position as No. 2 in Incremental NSE Active Clients, the company's share in NSE Active Clients grew to 15.4% during the quarter, marking a 79-basis point growth YoY. Furthermore, Angel One's share in the country's demat accounts at the end of the September quarter stood at 15.7%, representing a noteworthy increase of 251 basis points YoY.

Stock performance

Between February 2023 and December 2023, the stock experienced exponential growth, yielding a remarkable return of 247%. However, this upward momentum was followed by a significant downturn that lasted until July 2024, during which the stock lost 44% of its value. In August 2024, the stock showed signs of recovery, bouncing back with a notable increase of 19.4%.

While it finished September flat, it has risen by 17% in the current month. Despite this recovery, the stock remains about 23.3% below its all-time high of ₹3,896 scaled in January 2024.

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