Angel One Limited (IN:ANGELONE)
:ANGELONE
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Angel One Limited
(ANGELONE)
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Rating:70Outperform
Price Target:
₹361.00
▼(-84.97% Downside)
Action:Upgraded
Date:05/20/26
The score is driven mainly by solid fundamentals with notable risks (higher leverage and uneven cash-flow history), supported by a clear uptrend in price versus moving averages and a moderate valuation (P/E ~16) with a ~2% dividend yield.
Positive Factors
Revenue scale & high margins
Angel One's strong top-line scaling and high reported margins reflect a technology-led brokerage model with significant operating leverage. Durable revenue growth plus elevated gross and operating margins support sustainable cash generation and reinvestment potential as client volumes expand over months.
Negative Factors
Rising leverage
A sharp increase in debt-to-equity materially reduces financial flexibility and raises interest and refinancing risk. Elevated leverage constrains capital allocation choices, increases earnings sensitivity to downturns, and could force prioritization of debt service over growth or returns absent deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue scale & high margins
Angel One's strong top-line scaling and high reported margins reflect a technology-led brokerage model with significant operating leverage. Durable revenue growth plus elevated gross and operating margins support sustainable cash generation and reinvestment potential as client volumes expand over months.
Read all positive factors
Angel One Limited (ANGELONE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹277.29B
Dividend Yield1.88%
Average Volume (3M)74.76K
Price to Earnings (P/E)16.2
Beta (1Y)2.01
Revenue Growth-1.82%
EPS Growth-22.50%
CountryIN
Employees3,650
SectorTechnology
Sector Strength88
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)110.22
Shares Outstanding911,998,800
10 Day Avg. Volume120,727
30 Day Avg. Volume74,757
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)3.37
Price to Sales (P/S)4.01
P/FCF Ratio10.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)14.43
Revenue Forecast (FY)₹54.90B
Angel One Limited Business Overview & Revenue Model
Company Description
Angel One Limited provides broking and advisory services, margin funding, loans against shares, and financial products to its clients in India. It operates in three segments: Broking and Related Services; Finance and Investing Activities; and Heal...
How the Company Makes Money
Angel One makes money primarily through its broking operations and allied financial services delivered via its trading/investing platform. Key revenue streams typically include: (1) Brokerage and transaction-related income: fees/charges associated...
Angel One Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 39.80B | 51.52B | 42.48B | 33.97B | 24.73B | 19.98B |
| Gross Profit | 24.36B | 37.45B | 27.05B | 20.70B | 14.87B | 12.04B |
| EBITDA | 17.47B | 13.97B | 19.44B | 16.71B | 12.92B | 9.24B |
| Net Income | 9.94B | 9.15B | 11.72B | 11.26B | 8.90B | 6.25B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 239.04B | 168.89B | 132.54B | 74.78B | 72.20B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 165.60B | 78.32B | 106.68B | 54.91B | 50.09B |
| Total Debt | 0.00 | 79.51B | 34.14B | 25.41B | 7.87B | 12.58B |
| Total Liabilities | -56.39B | 177.55B | 112.50B | 102.15B | 53.16B | 56.36B |
| Stockholders Equity | 56.39B | 61.18B | 56.21B | 30.39B | 21.62B | 15.84B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 20.63B | -20.24B | -5.37B | 6.89B | 4.88B |
| Operating Cash Flow | 0.00 | 21.44B | -18.60B | -3.30B | 8.03B | 5.58B |
| Investing Cash Flow | 0.00 | -15.40B | -3.41B | -910.48M | -1.85B | -523.54M |
| Financing Cash Flow | 0.00 | 41.52B | 19.17B | 13.31B | -9.07B | -1.65B |
Angel One Limited Technical Analysis
Positive
2401.95
Price Trends
272.61
Positive
261.20
Positive
253.20
Positive
Market Momentum
8.77
Positive
64.20
Neutral
49.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ANGELONE, the sentiment is Positive. The current price of 2401.95 is above the 20-day moving average (MA) of 314.64, above the 50-day MA of 272.61, and above the 200-day MA of 253.20, indicating a bullish trend. The MACD of 8.77 indicates Positive momentum. The RSI at 64.20 is Neutral, neither overbought nor oversold. The STOCH value of 49.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ANGELONE.
Angel One Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹65.30B | 13.30 | ― | 0.59% | 5.89% | -5.03% | |
71 Outperform | ₹204.99B | 44.75 | ― | ― | 19.55% | 18.91% | |
70 Outperform | ₹277.29B | 16.16 | ― | 1.88% | -1.82% | -22.50% | |
68 Neutral | ₹194.11B | 27.09 | ― | 0.69% | 10.49% | -24.27% | |
63 Neutral | ₹97.37B | 37.95 | ― | 2.62% | -1.25% | -30.62% | |
63 Neutral | ₹96.76B | 23.95 | ― | 0.69% | 21.53% | 3.38% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
IN:ANGELONE
Angel One Limited
328.20
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17.45%
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Angel One Limited Corporate Events
Angel One posts strong April trading volumes and higher market share despite seasonal moderation
May 6, 2026
Angel One reported that its client base rose to 37.79 million in April 2026, up 20% year-on-year, even as monthly gross client additions softened, and average daily orders declined sequentially due to typical seasonality but remained above the FY2...
Angel One Grants 7.35 Million RSUs to 452 Employees Under Long-Term Incentive Plan
Apr 17, 2026
Angel One Limited has approved the grant of 7,346,277 restricted stock units to 452 eligible employees under its Angel Broking Employee Long Term Incentive Plan 2021. The RSUs, carrying an exercise price of Rs 1 per share and convertible into an e...
Angel One Publishes FY26 Audited Results, Highlights Strong Profitability
Apr 17, 2026
Angel One Limited has published its audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, as advertised in national newspapers in compliance with SEBI disclosure regulations. The brokerage reported qua...
Angel One Ramps Up Capital Framework, Clears Investments in Key Subsidiaries
Apr 16, 2026
Angel One’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, supported by an unmodified audit opinion, and disclosed security cover and proceeds utilisation for Rs 50 ...
Angel One Posts Strong Growth in Q4 FY26 Turnover and Client Base
Apr 8, 2026
Angel One reported continued expansion of its retail client base to 37.39 million as of March 2026, up 20.5% year-on-year, with quarterly gross client additions of 1.82 million and solid growth in average daily orders. Despite a month-on-month dip...
Angel One settles SEBI case on algo platform ties with no material business impact
Mar 19, 2026
Angel One Limited has disclosed that the Securities and Exchange Board of India issued a settlement order under a special scheme relating to stockbrokers’ associations with certain algorithmic trading platforms. SEBI’s examination foun...
Angel One Grows Client Base and Hits Record Retail Equity Share Despite Softer Volumes
Mar 6, 2026
Angel One reported that its client base rose to 36.93 million in February 2026, up 20.8% year-on-year, even as gross client additions slowed month-on-month and average daily orders dipped amid subdued market activity. Despite this moderation in vo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.