Angel One Limited · NSE:ANGELONE
Angel One — Q4 FY2026 Earnings Presentation
36 slides from Angel One's earnings presentation, Apr 16, 2026
Slide 1: Stock exchange cover letter: Investor Presentation
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 Code: 543235 Dear Sirs/ M
Slide 2: Q4 '26 Investor Presentation
ONE PLATFORM. COUNTLESS JOURNEYS. A BILLION STORIES. Q4 ‘26 Investor Presentation 16th April 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: Table of Contents
Table of Contents 01 Digital Financial Opportunity 02 Angel One’s Transformation with Speed 03 A Full Stack Fintech Platform 04 About Us 05 Q4 & FY26 Performance Highlights 3
Slide 5: India: Technology Enables Deeper Penetration of Financial Services
No Image India: Technology Enables Deeper Penetration of Financial Services Highly Under-Penetrated Rising Income >> Rising Savings >> Rising Investments >45 mn (Mar ‘26) Flows of Equity + MF in 15.1%^ NSE Active Clients Gross Financial Assets (FY25) ~3.2% of Total Population ~128 mn (Feb ‘26) Uniqu
Slide 6: Fintechs Driving India's Equity Culture
Fintechs Driving India’s Equity Culture India Per Capita Income Composition of Financial Assets Mutual Fund AUM (US$ ‘000) (Stock) 73.7 (₹ Trn) FY19 FY25 46% 40% 29% 30% 23% 4.3 16% 9% 7% 2.8 1% 1% 23.8 Deposits Insurance & Equity & Currency Debt Pension Investment Securities 2025E 2030E 2040E Funds
Slide 7: Structural Growth Tailwinds in Wealth and Lending
Structural Growth Tailwinds in Wealth and Lending India’s Wealth Management Industry India’s Fintech NBFCs Enabling Access to Credit 25-30% CAGR Expected Sanction Volume Sanction Value (Mn) 109 (₹ Trn) 1.1 1.0 89 US$ 1.1 trn 67 0.7 FY24 Over 10yrs 39 0.4 22 0.3 Triple Multiplier Growth Drivers 11 0.
Slide 8: Table of Contents
Table of Contents 01 Digital Financial Opportunity 02 Angel One’s Transformation with Speed 03 A Full Stack Fintech Platform 04 About Us 05 Q4 & FY26 Performance Highlights 7
Slide 9: Compounding Trust into Scalable Monetisation
No Image Compounding Trust into Scalable Monetisation High Client Trust x High Platform Sophistication: A Top-Right Quadrant Fintech Platform Expanding Product Suite & Presence Trust Flywheel + High customer trust built on transparency, governance and education over ~30 years Products ✓ HNI 21 offer
Slide 10: Evolving to Serve All Financial Needs of India
Evolving to Serve All Financial Needs of India Maximizing client lifetime value FY20 FY21 FY22 FY23 FY24 FY25 FY26 Deepening Digital Successful Redefining Super App Foray Into Wealth & Expanding Engagement & Brand Foundation IPO Brand & MF Launch Asset Management Horizons Visibility Digitised journe
Slide 11: Creating a Full Funnel Brand Ecosystem through IPL
No Image Creating a Full Funnel Brand Ecosystem through IPL 74 3-4 650+ 12 Matches Hours million Regional languages to # of Matches in Digital Viewership Each Match Duration drive local regional each IPL season In 2025 season connect On Ground Media Advantage of Pan India Brand Visibility • Premier
Slide 12: Resilient Performance in the Face of Macro Events
Resilient Performance in the Face of Macro Events FY20 FY21 FY22 FY23 FY24 FY25 FY26 Deepening Super App & MF Foray Into Wealth & Digital Foundation Successful IPO Redefining Brand Engagement & Brand Expanding Horizons Business Transformation Launch Asset Management Visibility 52 52 43 30 23 13 7 Gr
Slide 13: Clients Evolution Driving Consistent Revenues
Clients Evolution Driving Consistent Revenues With Each New Cohort, Total Income is Compounding into Sustainable Revenues • Full cost of acquisition, including branding spends, is accounted for in the period of acquisition, without (Total net income) Changes like True to Label, F&O apportionment. Mi
Slide 14: AI/ML for Enhancing Efficiency
AI/ML for Enhancing Efficiency Client-Centric AI Solutions Organisation Focused AI Solutions Evolution of Ask Angel Email & Ticket Automation AI-powered AI–based grievance auto response system handled 33% of emails and 18% of tickets end to conversational end per month assistant AI Coding Adoption A
Slide 15: Seamless Client Experience Through a Holistic Tech Stack
Seamless Client Experience Through a Holistic Tech Stack ISO/IEC 27001:2022 ISO 22301:2019 Tech that elevates every interaction Information Security Business Continuity Management Management Client experience System Systems AI/ML personalization engine Curated investment ideas across assets Real-tim
Slide 16: Table of Contents
Table of Contents 01 Digital Financial Opportunity 02 Angel One’s Transformation with Speed 03 A Full Stack Fintech Platform 04 About Us 05 Q4 & FY26 Performance Highlights 15
Slide 17: Angel One's Ecosystem
Angel One’s Ecosystem Scaling digitally through Strengthening leadership Enhancing engagement with Growing profitably and omnichannel approach position client first focus sustainably A Holistic Financial Ecosystem Designed to Serve Every Client: Building a healthy mix of fee based and annuity-based
Slide 18: Broking: Strong Growth Engine
Broking: Strong Growth Engine Growth in Demat A/c’s # of Orders ADTO Market Share Revenues (FY20-26) 20.6x Avg. Daily Orders Total Orders CAGR % In Gross Revenues 6.0x India Angel One Equity Cash 3.2x 67 Mn +431 bps 17.2% 12.0% 7.3% (FY20-26) Q4 ‘26 (FY20-26) Q4 ‘26 (FY20-26) Q4 ‘26 Growth in Overal
Slide 19: Client Funding: A Fast-Emerging Engine of Growth
Client Funding: A Fast-Emerging Engine of Growth 7.5x ₹ 58.5 Bn Book Segmentation Book Ageing (FY20-26) Q4 ‘26 Average Client Funding Book 6% (based on exposure) (Days) 10% 91+ 5% 61 - 90 6% ₹ 54.5 Bn Client Funding Book 31 - 60 19% (As on 31st March 2026) Q4 ‘26 16 - 30 19% 7 - 15 19% 84% 350+ k <6
Slide 20: Mutual Fund Distribution: A Large, Underpenetrated Opportunity
Mutual Fund Distribution: A Large, Underpenetrated Opportunity with Structural Tailwinds High Engagement with Clients Building Scale in MF AUM Unique SIPs Registered (₹ Bn) 167 (Mn) 8.8 2nd >3.4 Mn >69% 8.0 111 Position In India’s # Of MF Clients More Than 1 SIP Incremental SIPs 3.5 ₹ 167 Bn ~39% 11
Slide 21: Ionic Wealth: Foundation to Flywheel
Ionic Wealth: Foundation to Flywheel Key Highlights Tech-led Innovation Digital Velocity ₹ 100.8+ Bn (+22.7% QoQ) Assets Under Management ₹ 115.9 Bn 5,745 ₹ 4.6 Bn Assets of Pulled ₹ 96.3 Bn Portfolios Pulled Portfolios Custody Active Assets Assets 7,953 ₹ 3.3 Bn ~86% ARR AUM Value of Digital Digita
Slide 22: Credit: Unlocking Demand through Technology
Credit: Unlocking Demand through Technology Huge Headroom for Growth Platform Moat Credit Disbursal (₹ Bn) Multiple Lenders : 7.1 6.1 • Deep API integration ensures better control over client experience 4.6 Market Opportunity • Best-fit offers across lenders, leading to better ✓ Large, underserved p
Slide 23: Asset Management: Building an Annuity Business
Asset Management: Building an Annuity Business Key Highlights Focusing on Education through Gamification and Vernacular Communication ₹ 3.6 Bn 247 k 17.6 k AUM Folios Pincodes Angel One AMC’s Product Offerings – 11 Schemes Live Angel One Schemes Index Fund ETF FOF Equity Angel One Nifty Total Market
Slide 24: Table of Contents
Table of Contents 01 Digital Financial Opportunity 02 Angel One’s Transformation with Speed 03 A Full Stack Fintech Platform 04 About Us 05 Q4 & FY26 Performance Highlights 23
Slide 25: Board of Directors & Experienced Management Team
Board of Directors & Experienced Management Team Board of Directors Dinesh Thakkar Chairman and Managing Director Muralidharan Mala Todarwal Krishnaswamy Sridhar Kalyan Prasath Ramachandran Independent Director Independent Director Independent Director Independent Director N T Arunkumar Krishna Iyer
Slide 26: People Practices & Social Empowerment
People Practices & Social Empowerment Robust Employee Engagement Angel One’s CSR Programmes Diversity Equity & Inclusion Partner Non-Profit Organisations ✓ Jombay women's leadership program ✓ Completed the Women ERG–led EmpowerHer Bootcamp, a two-month career accelerator for women. ✓ A1 Mom Buddy Ci
Slide 27: Awards & Accolades
Awards & Accolades Technology Industry Marketing ET Brand Equity Trendies Award for Best Mobile App of the Year by India Best Performer in Equity Derivatives Excellence in Social Media Marketing – Television at PRCA Awards 2025 (Retail) by BSE 2025 Fintech category Best CX Strategy of the Year at CX
Slide 28: Table of Contents
Table of Contents 01 Digital Financial Opportunity 02 Angel One’s Transformation with Speed 03 A Full Stack Fintech Platform 04 About Us 05 Q4 & FY26 Performance Highlights 27
Slide 29: Q4 '26 Key Highlights
Q4 ‘26 Key Highlights Platform Metrics 37.4 Mn (+4.7% QoQ) 1.8 Mn (+4.4% QoQ) ₹ 1.4 Trn (-9.3% QoQ) Total Client Base Gross Client Acquisition Assets Under Custody Brokerage - Cash, 7% (8.9 Mn No of Clients) Brokerage - F&O, Other Income, 1% 47% Distribution, 4% Broking ₹ 14.7 Bn Depository, 3% 16.7
Slide 30: Performance of Broking & Distribution (MF + Credit) Businesses
Performance of Broking & Distribution (MF + Credit) Businesses (Standalone Financials) (₹ Mn) Gross Revenues EBDAT Profit After Tax Margin 33.4% 24.3% 37.7% 43.0% 44.6% 14,519 3,514 13,173 4,996 11,823 3,010 4,336 11,203 10,334 3,461 2,363 2,703 1,803 2,110 1,339 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Q4 '26 Q
Slide 31: Consolidated Financial Performance: Steady QoQ Improvement
Consolidated Financial Performance: Steady QoQ Improvement (₹ Mn) Consolidated Gross Revenues Consolidated EBDAT Consolidated Profit After Tax Gross Broking Interest Income Other Margin 31.8% 21.8% 34.5% 39.4% 41.7% 4,728 14,672 3,202 13,377 1,212 4,050 12,042 1,192 2,687 11,431 4,550 10,578 1,056 9
Slide 32: EBDAT Bridge
EBDAT Bridge (₹ Mn) 39.4% 44.4% 41.7% Q4 ‘26 Reported EBDAT movement: Reported +498bps Normalised Reported EBDAT Margin EBDAT Margin EBDAT Margin • Increase in revenues as client activity normalises • Lower employee cost on account of higher base effect in accordance under the New Labour 189 111 -38
Slide 33: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (₹ Mn) Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 # of Trading Days 60 61 62 246 247 (a) Interest Income 4,550 4,409 3,378 16,317 13,410 (b) Fees and commission income 10,000 8,896 7,110 34,842 38,739 (c) Net gain on fair value changes 45 44 72 207 235 Total R
Slide 34: Summary of Consolidated Balance Sheet
Summary of Consolidated Balance Sheet Particulars (₹ Mn) Mar ’26 Mar ’25 Financial Assets (a) Cash, cash equivalents and Bank Balance 1,65,605 1,18,044 (b) Other Trade Receivables 1,131 1,396 (c) Client Funding Book 54,494 38,588 (d) Investments 2,574 2,016 Increase on account of higher (e) Other fi
Slide 35: Revenue Diversity Supporting Long Term Growth
Revenue Diversity Supporting Long Term Growth Monetisation of Multi-Product Offerings on the Platform Gross Broking Contributes 61% in Total Revenues Composition of Broking Revenue 68.0% Broking - F&O Broking - Cash Broking - Commodity 65.1% 70% 40% 64.7% 58% 60% 55% 53% 35% 50% 46% 46% 30% 61.7% 50
Slide 36: Investor Relations Contacts
Company : Investor Relations Advisors : http://www.sgapl.net/images/sgapl_logo.jpg Angel One Ltd. Strategic Growth Advisors Pvt. Ltd. CIN – L67120MH1996PLC101709 CIN - U74140MH2010PTC204285 Mr. Hitul Gutka – Head IR Mr. Shogun Jain / Mr. Shrikant Sangani Email Id – hitul.gutka@angelone.in shogun.jai