Angel One Limited · NSE:ANGELONE
Angel One — Q1 FY2027 Earnings Presentation
34 slides from Angel One's earnings presentation, Jul 15, 2026
Slide 1: Cover letter to stock exchanges: updated investor presentation
Classified as Internal To, Listing Department Department of Corporate Service National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, G Block, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 051. Mumbai - 400 001. Symbol: ANGELONE Scrip Co
Slide 2: One Platform For Every Financial Journey Of India
One Platform For Every Financial Journey Of India From a first investment to a family's wealth — one ecosystem for every stage of life 38.6 Mn 1.3 Mn ₹ 1.7 Trn users gross acquisitions assets under custody Q1 ‘27 | Investor Presentation 15th July 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Angel One Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 4: A generational opportunity
CHAPTER 1 A generational opportunity A billion-person economy becoming digital — under-penetrated in finance and compounding for decades Large population Significantly under served Rising incomes Increasing financial needs Digital-led fulfilment 1. OPPORTUNITY 2. PLATFORM 3. ENGINES 4. ABOUT US 5. P
Slide 5: A billion people market, sustained runway of growth
A billion people market, sustained runway of growth RISING INCOME → RISING SAVINGS → RISING INVESTMENTS INDIA POPULATION FUNNEL · HIGHLY UNDERPENETRATED EQUITY + MF SHARE OF HOUSEHOLD GROSS FINANCIAL ASSETS (FY25) ~1 .5 B n Total population · median age ~29 yrs Flows of Equity + MF 15.1% ~1 .0 B n W
Slide 6: Wealth and Credit: Large and growing pool
Wealth and Credit: Large and growing pool IN D IA’ S W E A L T H MA NAG E ME N T IND US T R Y FI NT E C H NB F Cs E NA BL I NG C R E D IT A CC E SS CAGR Expected: 25-30% over 10 years Personal Loan Sanction Value (₹ Trn) 1.1 1.0 US$ 1.1 trn 0.7 FY24 0.4 0.3 0.1 0.1 T R IP LE M UL T I PL IE R G R O W
Slide 7: One ecosystem, every journey
CHAPTER 2 One ecosystem, every journey Win the user once, then serve every financial need across their lifetime, leveraging technology Starting out Building Establishing Accumulating Preserving 1. OPPORTUNITY 2. PLATFORM 3. ENGINES 4. ABOUT US 5. PERFORMANCE 6. ANNEXURE
Slide 8: Angel One platform's engagement flywheel
Angel One platform’s engagement flywheel O ne u se r · Ma ny fi n a nc i a l jou r ne ys · Co m po un di n g l i f e ti m e v al u e The platform moat User scale Acquire at scale Large, fast-growing base = distribution advantage Grow Engage High engagement wallet share high-frequency Multiple touchp
Slide 9: Partner for every stage of life
Partner for every stage of life As us e r ’s l i fe e v ol v e s, th e i r fi na n c i al n e e d s d i ve r s i fy — An g e l On e ha s th e r i g ht off e r i ng for e ve r y st ag e Illustrative product engagement across various stages of life Early career Building up Family & assets Peak wealth
Slide 10: Several monetisation layers, expanding LTV
Several monetisation layers · Expanding LTV Ar c h i te c t e d ar o un d u se rs ne e ds (Q1 ‘27) +Trade +Invest +Wealth +Save +Borrow +Protect BROKING MUTUAL FUNDS WEALTH MANAGEMENT AMC CREDIT INSURANCE Equity Cash, Equity Derivatives Personalised investing & SIP Wealth platform for UHNI, HNI Asse
Slide 11: One platform compounded
One platform compounded E vo l vi n g to se r v e In di a ’s fi na n c i a l ne e d s FY20 FY21 FY22 FY23 FY24 FY25 FY26 Digital foundation Successful fund raise & Redefining the brand Platform expansion Entered new Deepening engagement AI-led ecosystem & scale up adjacencies & brand visibility expa
Slide 12: AI is reshaping how we build and run the platform
AI is reshaping how we build and run the platform AI AC RO SS THE US ER & OPERATING S TACK · Q1 ‘ 27 Ask Angel · AI-powered Conversational Assistant DI SCO V ER Y U SER MI X QUE RY MI X 1.1+ Mn 72% asked finance related queries 78% guided prompts Users visited 28% asked support related queries 22% f
Slide 13: Security & resilience, engineered for regulated scale
Security & resilience, engineered for regulated scale La yered pla tfor m secu rity · governed data · pr ivac y -f irst pro gra m · au dit -read y aga in st SEBI C SCR F a nd ISO f ramewo rks. CE RT IF IE D CO MPL I AN T · A UDI T ED ISO/IEC 27001:2022 SEBI CSCRF ISO 22301:2019 M ULTI -L AYERED SECU
Slide 14: Users broaden and deepen, as they mature
Users broaden and deepen, as they mature Us e r ’s e vo l ut i on dr i v i ng c on si s te n t r e v e n ue s Revenue contribution from every cohort · ₹ Mn · Total Net Income Every cohort keeps compounding total net income Changes like True to Label, F&O regulations and softer macro impacted revenue
Slide 15: Many engines, one user
CHAPTER 3 Many engines, one user Multi-product engine offers potential revenue scaling from every user Trade Credit Distribution Wealth Management Asset Management Cash · F&O · Client funding book MF · Personal loans · IPO · PMS · AIF · Bonds · Unlisted Index funds · ETFs · Fund-of- Commodity · Curr
Slide 16: Broking: The acquisition layer
Broking: The acquisition layer LI F E C YC LE S T AGE A low-friction, high-frequency product that brings millions onto the platform – the entry point, not the whole story Start of career 406 Mn 20.2% 16.7% 1 Mass-market reach Facilitates deeper penetration in Tier 2, 3 and beyond cities overall reta
Slide 17: Client funding book: A fast-emerging growth opportunity
Client funding book: A fast-emerging growth opportunity Maturing user base, a structural growth pillar RI S K & Q UA LI T Y BOOK SEGMENTATION - BY EXPOSURE Q1 ‘27 AVERAGE CLIENT FUNDING BOOK As of Q1 ‘27 Negligible risk ₹ 61.4 Bn <₹ 0.1mn - 83% ₹ 0.1- >₹ 0.5mn - 0.5mn In the client funding book 10%
Slide 18: Mutual fund distribution: The retention layer
Mutual fund distribution: The retention layer LI F E C YC LE S T AGE A high-engagement, recurring product that keeps users invested on the platform Across all stages #2 ~3.6 Mn >70% ~39% Position in India’s incremental SIPs # of MF ever users More than 1 SIP Of MF ever users were activated by MF BU
Slide 19: Credit distribution: A large untapped layer
Credit distribution: A large untapped layer LI F E C YC LE S T AGE An embedded credit layer that deepens customer relationships—expanding monetization beyond investing Establishing MA RK ET O PP O RTUN I TY · W I THI N O UR US E R P O OL C REDI T DI S T RI BUTE D · ₹ Bn P ARTN ERS HI P S Large, unde
Slide 20: Wealth management: Capturing the affluent stage
Wealth management: Capturing the affluent stage LI F E C YC LE S T AGE Ionic Wealth serves clients as they move into higher net worth — the mid-to-late life stage where wallet share and margins are richest Accumulating TO T A L A UM GL O BA L IN V ESTM EN T S ₹ 127.8 Bn ₹ 6.6 Bn 2,400+ Active assets
Slide 21: Asset management: the annuity foundation
Asset management: the annuity foundation LI F E C YC LE S T AGE Asset Management – A pathway to capitalise on the long-term structural growth opportunity Across all stages ₹ 6.2 Bn 255+ k 17.7 k th AUM as on 30 June 2026 # of folios Pincodes I N D I A PA S S I VE F UN D S AUM · ₹ T rn 26x growth in
Slide 22: The people behind the platform
CHAPTER 4 The people behind the platform A seasoned leadership team, a deep talent bench and a culture built to scale responsibly Trust Collaboration Innovation Think Big Speed Customer centricity 1. OPPORTUNITY 2. PLATFORM 3. ENGINES 4. ABOUT US 5. PERFORMANCE 6. ANNEXURE
Slide 23: Builders for the billion
Builders for the billion BO ARD O F DIRECTORS AR CHITECTS O F GR OWTH Dinesh Thakkar Muralidharan Dinesh Thakkar Ambarish Kenghe Vineet Agrawal Amit Majumdar Chairman and Managing Ramachandran Managing Director Group Chief Executive Group Chief Financial Group Chief Strategy Officer Director Indepen
Slide 24: Q1 '27 performance
CHAPTER 5 Q1 ’27 performance Monetising every opportunity, profitably through cycles Q1 ‘27 Highlights Standalone Performance Consolidated Performance EBDAT Bridge Profit & Loss Balance Sheet 1. OPPORTUNITY 2. PLATFORM 3. ENGINES 4. ABOUT US 5. PERFORMANCE 6. ANNEXURE
Slide 25: Q1 '27 key highlights
Q1 ’27 key highlights TO TA L GRO S S I N C O ME S P LI T · ₹ 1 4. 3 B n ( -2 . 3% Q o Q / + 25 . 4 % Yo Y) EBDA T P AT 9% 45% 6% 33% 3% 3% 1% ₹ 3.6 Bn ₹ 2.3 Bn (-23.9% QoQ) (-27.7% QoQ) (+85.1% YoY) (+102.1% YoY) Brokerage - Cash Brokerage - F&O Brokerage - Commodity Interest Depository Distributio
Slide 26: Performance of broking & distribution businesses
Performance of broking & distribution (MF + credit) businesses ( Sta n d al o n e F i n an c i al s ) TO TA L GRO S S RE VEN UE S · ₹ Mn · +2 6 .2 % Y o Y EBDA T · ₹ Mn · M ARGI N % · +8 7 .6 % Y o Y P ROF I T A F TER TA X · ₹ M n· +1 0 2. 2% Y o Y 24.3% 37.7% 43.0% 44.6% 36.6% 14,519 14,135 3,514 1
Slide 27: Consolidated financial performance
Consolidated financial performance · TTM PAT ₹10.3 Bn · TTM EPS ₹ 11.4 C O NS O LI DA TE D GRO S S REVE NU ES · ₹ M n · +2 5 .4 % Y o Y C O NS O LI DA TE D EB DAT · ₹ Mn · MARG I N % · +85 .1% Y o Y C O NS O LI DA TE D P AT · ₹ M n · +1 0 2. 1% Y o Y Gross Broking Interest Income Other 21.8% 34.5% 3
Slide 28: EBDAT bridge
EBDAT bridge (₹ Mn) 44.4% 43.6% Normalised -81bps Normalised EBDAT Margin EBDAT Margin 5,035 Q1 ‘27 Reported EBDAT movement: 4,728 +115 +192 -334 4,799 -247 +504 -1366 -161 • Decrease in revenues as user activity moderated +165 3,597 • Higher employee cost on account of annual increments and proport
Slide 29: Consolidated profit & loss statement
Consolidated profit & loss statement Particulars (₹ Mn) Q1 FY27 Q4 FY26 Q1 FY26 FY26 FY25 # of Trading Days 60 60 61 246 247 (a) Interest Income 4,669 4,550 3,564 16,317 13,410 (b) Fees and commission income 9,575 10,000 7,780 34,842 38,739 (c) Net gain on fair value changes 53 45 62 207 235 Total R
Slide 30: Summary of consolidated balance sheet
Summary of consolidated balance sheet Particulars (₹ Mn) Jun ’26 Mar ’26 Financial Assets (a) Cash, cash equivalents and Bank Balance 1,40,430 1,65,605 (b) Other Trade Receivables 902 1,131 (c) Client Funding Book 71,525 54,494 (d) Investments 2,773 2,574 (e) Other financial assets 2,424 8,198 Non-f
Slide 31: Revenue diversity supporting long-term growth
Revenue diversity supporting long-term growth Gr os s b ro k in g co n tr ib u te s 6 0% i n to tal gr o ss re v en u es · % C o mp o s i ti on o f b ro k in g re v en u e i n to tal gro s s r ev e nu e s · % 65.1% 64.7% Broking - F&O Broking - Cash Broking - Commodity 60% 55% 53% 40% 61.7% 50% 46%
Slide 32: Annexure
CHAPTER 6 Annexure 1. OPPORTUNITY 2. PLATFORM 3. ENGINES 4. ABOUT US 5. PERFORMANCE 6. ANNEXURE
Slide 33: Trading momentum dashboard
Trading momentum dashboard F&O C A SH C O MMO DI TY O VERA LL Ret ail tu rn o v er m ark et s h ar e · % Ret ail tu rn o v er m ark et s h ar e · % Ret ail tu rn o v er m ark et s h ar e · % Ret ail eq u i ty tu r no v er m ar ke t s ha re · % 18.7% 65.1% 18.3% 18.0% 22.2% 22.2% 17.4% 21.7% 21.7% 17
Slide 34: India is going to invest more. We're the platform they'll use.
India is going to invest more. We’re the platform they’ll use. COMPANY INVESTOR RELATIONS CONSULTANTS Angel One Ltd. Strategic Growth Advisors CIN – L67120MH1996PLC101709 CIN - U74140MH2010PTC204285 Mr. Hitul Gutka – Head IR Mr. Shogun Jain / Mr. Shrikant Sangani hitul.gutka@angelone.in shogun.jain@