A Comprehensive Financial Review of Angel One Ltd

Angel One Ltd. (formerly Angel Broking) has been an established name within the Indian financial services sector. Let us undertake an overview of its recent performance, financial health, and key business segments in accordance with available information.

Market Performance: A Bullish Trend?

Angel One Ltd. stock, highlighting a major upward move.

Strong Uptrend: Around March 2025, the chart showcases a very strong bullish run. The stock moved up from nearly ₹1,941.00 to above ₹3,079.50 as of May 23, 2025.

Impressive Gains: The highlighted area indicates a potential target of ₹3,152.50, which further converts into a 59.19% gain. The share price is currently near the target.

Risk/Reward: With respect to the displayed risk/reward ratio of 17.35, this suggests that for every unit of risk taken, the reward being chiseled out is many times larger. These are signals that will attract investors.

Volume: The trading activity over 53 bars (83 days) closed with a volume at 66.13 million, revealing intense investor interest into this stock over this period.

Such a technical analysis indicates a positive sentiment over Angel One’s stock with the possibility of further growth in the short to medium terms.

Company Overview: Broking and Beyond

Angel One company profile and financial composition.

Established Player: Founded in 1996, Angel One has a long-standing presence in the financial services industry.

Market Capitalization: An important factor that gives dimension to Angel One’s stature is its market capitalization of ₹263.38 Billion.

Key Services: Angel One operates in several segments:

• Broking & Allied Services: The bulk of this is likely broking, advisory, and product distribution and margin trading.
• Finance & Investment Activities: Income from financing and investment activities comes within this scope.
• Health & Allied Fitness Activities: This peculiar service area brings in income for running the fitness centers. Such diversification could hence be a way to tap into different revenue avenues.

Leadership: CEO is Ambarish Kenghe.

Ownership Structure: Having 53.37% closely held shares and 46.63% free float shares, the company indicates fairly decent liquidity.

Dividend Yield & P/E Ratio: The indicative dividend yield is 1.68%, while its P/E (Price to Earnings) ratio is 22.82, which puts its valuation in perspective.

Financial Performance: A Mixed Bag, but Growth in Key Areas

Angel One’s revenue, expenses, and profitability over various periods.

Despite a slight quarterly decline, Angel One has delivered strong annual growth. Let’s dive into the financials:

Quarterly Data (FY25):

Quarterly performance (from Q3 2022 to Q4 2025-projected):

Total Revenue: Angel One has proven to grow consistently from every quarter on a QoQ basis throughout most of 2023 and 2024. However, the projection for Q4 2025 points toward a dramatic Year-on-Year decline of 22.13% in total revenue, with a corresponding 23.19% fall in gross profit, and this pains careful attention.

Operating Income: Again, almost similar to revenues and growth, operating incomes have also exhibited dramatic growth throughout most of 2023 and 2024 years, while for Q4 of 2025, a substantial 40.94% decline in operating income is projected on a YoY basis, and this is something to worry about.

Net Income: Net income was generally on an upward trend but was showing a serious dip in the projected Q4 2025. 

Details of annual generation (2018-2024):

Spectacular Growth in Broking: The “Broking and Related Services” segment has undergone exponential YoY growth from ₹4.25 Billion in 2018 to ₹52.48 Billion in 2024, which signifies the perceived strong performance of their core business.

Finance & Investing Activities: That segment exhibits steady growth; hence, a strong financial and investing arm can be deduced. 

Health & Allied Fitness Activities: Revenue in this segment has been pretty stable, around ₹50-60 million ranges and is therefore not a core revenue generator.

Overall Annual Growth:The high overall annual growth in revenues witnessed by Angel One at almost every sector, especially the broking business, is one’s testimony to a growing market distance and client base capacity.

The projected decline in Q4 2025 revenue and operating income is an important point to monitor and understand. It could be due to various factors such as increased competition, market slowdowns, or a change in business strategy.

Dividend Payout History: Bearing Gifts for Shareholders

Consistent Dividends: Angel One has paid dividends consistently to its shareholders and in some cases, more than once a year (interim and final).

Increasing Payouts: Over the years, the company has witnessed an uptrend in the dividend payout amount, thus reflecting enhanced profitability of the company and its intention to channel some value to the shareholders. The final dividend is projected at ₹26.00 on May 30, 2025, which is quite substantial as compared to some earlier payouts of ₹2.25 in May 2022.

Conclusion

Angel One Ltd. has cast a strong spell of growth in the financial service sector with an unassailable market position in its core broking business. The technical chart shows a very good recent market performance, and historical annual revenue figures show a growing trend. The dividend payouts, consistent ones, speak well of an investment.

The forecast revenues and operating income dip in Q4 2025 calls for further explanation. Understanding the reasons underpinning this forecast dip could be invaluable for assessing the short-term outlook of the company. In the large scheme of things, Angel One appears to be a strong player in the Indian financial market with great growth potential looming ahead, but it will have to look at possible hurdles in the near future.

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