Angel One Limited (NSE: ANGELONE)

Quick Facts / Company Snapshot

Metric	Value
Total Client Base	37.4 million
Gross Client Acquisitions (FY26)	6.9 million
Assets Under Custody	₹1.4 trillion
Total Income (FY26)	₹51,522.34 million
Profit After Tax (FY26)	₹9,150.99 million
Net Worth	₹61,489.30 million
Return on Average Net Worth	15.5%
Earnings Per Share (Basic)	₹10.09
Market Share in Demat Accounts	16.7%
Overall Retail Equity Turnover Market Share	20.2%
NSE Active Client Base	6.8 million
Total Order Activity	1,514 million
Average Client Funding Book	₹53.0 billion
Mutual Fund Clients	>3.4 million
Unique SIPs Registered	8.8 million
Credit Distributed	₹20.1 billion
Wealth Management AUM	₹100.8 billion
Asset Management AUM	₹3.6 billion
Total Employees	2,942
Tier 2 and Beyond Client Acquisition Share	89%

Company Overview

Angel One Limited operates as a full-stack, technology-led financial services ecosystem that spans investing, wealth creation, credit, and protection. Positioned as an operating system designed for digital natives, the enterprise amplifies human intent through machine intelligence. By embedding data science, artificial intelligence (AI), and highly scalable infrastructure at its core, the platform simplifies financial complexity, personalizes outcomes, and enhances decision quality at scale.

The institutional ecosystem is intentionally structured to support every stage of the financial lifecycle, serving first-time investors all the way up to multi-asset wealth builders. The unified digital architecture connects multiple financial journeys within a single, interoperable interface. This enables millions of users to invest, trade, borrow, protect, and build wealth across various asset classes through seamless web and mobile frameworks.

Operating on an in-house technology and data intelligence model paired with an asset-light distribution framework, the enterprise ensures high-performance execution, calibrated risk management, and AI-assisted servicing. The overarching ambition is to empower individuals to move forward with greater financial clarity, confidence, and control, transitioning the business from a pure enabler of market access into a comprehensive and trusted financial partner.

Business Segments

The enterprise operates primarily through a unified ecosystem but derives its revenue from distinct, highly integrated operational segments.

Brokerage

• Revenue (FY26): ₹30,784.24 million
• Percentage of Total Income: 59.75%

Brokerage remains the foundational access layer and the primary engagement gateway of the integrated financial platform. Built on a high-performance, in-house technology stack, this segment facilitates rapid execution across equity, derivatives, and commodities. During the fiscal year, this segment processed 1,514 million executed orders. Despite regulatory recalibrations and global headwinds that shifted market dynamics away from volume-driven activity toward sustainable engagement, the brokerage stack maintained robust execution resilience and high concurrency handling capabilities. Advanced intelligence layers support this segment by providing contextual insights, intelligent nudges, and AI-assisted client servicing, shifting the focus from episodic transactions to long-term relationship building.

Interest Income (Client Funding & Treasury)

• Revenue (FY26): ₹16,316.96 million
• Percentage of Total Income: 31.67%

The interest income segment is driven primarily by the client funding book (Margin Trading Facility) and treasury operations involving deposits with banks. The average client funding book expanded significantly to approximately ₹53.0 billion, supporting clients’ investment decisions under disciplined risk oversight. The enterprise utilizes a risk-calibrated approach to leverage clients’ capital, generating substantial interest revenues while ensuring strict adherence to margin requirements and collateral protocols.

Depository Operations

• Revenue (FY26): ₹1,927.84 million
• Percentage of Total Income: 3.74%

Operating as a registered Depository Participant with Central Depository Services (India) Limited (CDSL), this segment provides integrated demat infrastructure for the secure custody and seamless management of securities across asset classes. Revenue is generated through annual maintenance charges and transaction-based fees.

Distribution Operations

• Revenue (FY26): ₹1,921.54 million
• Percentage of Total Income: 3.73%

The distribution segment represents the next phase of the platform’s financialization journey, encompassing mutual funds, credit distribution, and insurance. Rather than relying on traditional cross-selling, this segment operates as an intelligence-driven platform model. The credit distribution vertical acts as a capital-light, partner-enabled engine, distributing ₹20.1 billion in credit through dynamic lender matching and proprietary AI scorecards without exposing the enterprise’s balance sheet to lending risks. Mutual fund distribution is supported by instant SIP activation systems and personalized investing pathways, accumulating an active base of over 3.4 million mutual fund clients.

History and Evolution

The enterprise was established with a singular conviction: financial markets should be intuitive and accessible to everyone. The journey commenced in 1996 from a modest single-room office under the leadership of founder Dinesh Thakkar. During its early days, market participation was severely constrained by geographical limitations, restricted access to information, and high operational friction. In a pioneering effort to bridge the gap between aspiration and market access, the early operations relied on walkie-talkies to transmit real-time stock prices directly from the exchange floor to the office.

Over the ensuing three decades, as the Indian economic landscape transformed through formalization, digitization, and financialization, the enterprise evolved concurrently. It transitioned from a traditional brokerage firm into a highly scalable, digital-first financial ecosystem. By leveraging expanding digital public infrastructure, rising domestic consumption, and evolving regulatory safeguards, the platform systematically removed entry barriers.

On June 28, 2018, the enterprise converted into a public limited company, marking a significant milestone in its corporate governance and capitalization trajectory. Today, it has transcended its origins as a pure market access provider to become a trusted, full-spectrum financial partner that supports the lifecycle of millions of households across India.

Products and Services

The unified platform ecosystem offers a modular suite of products that guide users through distinct financial journeys: Invest and Trade, Save and Grow, Borrow, and Build Wealth.

• Equity and Derivatives Trading: * Revenue: Formally categorized under Brokerage (₹30,784.24 million, 59.75% of total income).
  • Profile: Offers high-speed execution across cash delivery, intraday trading, and advanced Futures and Options (F&O). Supported by real-time research, technical indicators, integrated option chains, strategy builders, and real-time Greeks.
• Client Funding / Margin Trading Facility (MTF): * Revenue: Formally categorized under Interest Income (₹16,316.96 million, 31.67% of total income).
  • Profile: Provides a risk-calibrated mechanism for leveraging client capital. The MTF offering is secured by funded stocks and built on strictly defined risk parameters to support larger investment strategies.
• Mutual Funds & SIPs: * Revenue: Categorized under Distribution Operations.
  • Profile: Delivers guided discovery and instant SIP activation for active and passive mutual funds. Facilitated 8.8 million unique SIP registrations, empowering retail users to transition into long-term capital providers.
• Digital Credit Distribution: * Revenue: Categorized under Distribution Operations.
  • Profile: An AI-assisted, capital-light platform matching clients with seven marquee lending partners. Utilizes proprietary scorecards and behavioral signals to streamline underwriting and instant loan disbursement.
• Asset Management (Passive & Rule-Based Investing): * Revenue: AMC subsidiary revenue is ₹45.51 million (0.09% of total income).
  • Profile: Offers transparent, low-cost index funds and ETFs. Includes broad-market indices, smart-beta (factor-based) strategies, and commodity exposure (Gold and Silver ETFs).
• Wealth Management & Advisory: * Revenue: Wealth subsidiary revenue is ₹223.97 million (0.43% of total income).
  • Profile: Targets affluent, High Net Worth (HNI), and Ultra High Net Worth (UHNI) individuals. Blends institutional-grade human advisory with digital portfolio analytics to structure bespoke, multi-asset portfolios.
• Insurance Protection: * Revenue: Categorized under Distribution Operations.
  • Profile: Contextual, need-based life and general insurance coverage. Delivered through a digital-first underwriting capability designed to address significant domestic protection gaps.

Brand Portfolio

• Angel One: The master brand under which the core brokerage, depository, and broad retail financial platform operates.
• Ionic Wealth: * Revenue: Managed under Angel One Wealth Limited (₹223.97 million, 0.43% of total income).
  • Profile: The strategic premiumization brand designed for affluent, HNI, and UHNI clients. Ionic Wealth operates as an omnichannel advisory platform blending deep human expertise (EQ/IQ) with digital scaling (DQ) to offer structured wealth solutions, portfolio diagnostics, and global diversification.
• Smart Money: * Profile: The structured learning and educational brand providing progressive, mobile-first financial literacy modules for beginners to advanced traders.
• FinOne: * Profile: A digital-first brand initiative focusing on engaging Gen Z and first-time investors through highly relatable, vernacular-friendly social media content.
• Ask Angel: * Profile: The proprietary, AI-powered conversational financial assistant. Resolves over 80% of client queries autonomously using a hybrid architecture of open-source and enterprise-grade models.

Geographical Presence

The enterprise maintains a sweeping national footprint while selectively exporting services.

• Domestic Market (India):
  • Revenue: ₹34,815.97 million
  • Percentage of Total Customer Revenue: 99.93%
  • Profile: The core operational market. The physical infrastructure comprises 40 offices across India, consisting of 6 owned locations, 24 co-locations, and 10 rented office spaces. The primary physical footprint spans major commercial centers in Maharashtra, Gujarat, Rajasthan, New Delhi, Uttar Pradesh, Karnataka, and Telangana. Crucially, the enterprise exerts massive digital reach into “Bharat,” with 89% of gross client acquisitions originating from Tier 2 cities and beyond. This nationwide digital penetration is bolstered by an assisted network of over 10,000 Authorized Persons and over 11,000 Mutual Fund Distributors.
• International Market (USA):
  • Revenue: ₹25.64 million
  • Percentage of Total Customer Revenue: 0.07%
  • Profile: The enterprise exports select services to the United States without maintaining physical offices in the region. Future international expansion plans include a proposed presence in GIFT City to facilitate global investing opportunities.

Profit and Loss

The enterprise navigated a year of industry recalibration while maintaining operational resilience. Below are the consolidated financial highlights for FY26 compared to FY25.

Financial Metric	FY26 (₹ in million)	FY25 (₹ in million)
Interest Income	16,316.96	13,409.52
Fees and Commission Income	34,841.61	38,739.37
Net Gain on Fair Value Changes	207.50	234.90
Other Income	156.27	92.90
Total Income	51,522.34	52,476.69
Finance Costs	4,367.49	2,948.03
Fees and Commission Expenses	7,202.40	8,246.39
Impairment on Financial Instruments	31.15	24.65
Employee Benefits Expenses	10,670.45	8,552.00
Depreciation, Amortisation and Impairment	1,249.99	1,034.21
Other Expenses	15,281.99	15,751.91
Total Expenses	38,803.47	36,557.19
Profit Before Tax	12,717.57	15,919.50
Total Income Tax Expense	3,566.58	4,198.69
Profit After Tax	9,150.99	11,720.81
Earnings Per Share (Basic)	₹10.09	₹13.00

• Revenue Dynamics: Total consolidated income saw a slight moderation to ₹51,522.34 million, driven by recalibrations in the equity derivatives segment following regulatory changes. However, this was counterbalanced by a 21.7% surge in interest income to ₹16,317 million, fueled by an expanding client funding book.
• Expense Pressures: Finance costs elevated significantly by 48.1% to ₹4,367 million due to higher average client funding requirements and temporary borrowings needed to meet upstreaming mandates for client cash margins. Employee benefit expenses also climbed by 17.9%, largely driven by structural investments in talent and a 73.5% surge in the cost of stock options.
• Operating Efficiency: The standalone EBDAT margin stood at a robust 38.1%. Other operating expenses declined by 3.0% to ₹15,282 million, highlighting disciplined cost management amidst lower variable volumes.

Balance Sheet

The enterprise maintains a highly fortified and liquid balance sheet engineered to scale securely while managing significant client funds.

Balance Sheet Item	As at 31 March, 2026 (₹ in million)	As at 31 March, 2025 (₹ in million)
Cash and Cash Equivalents	1,623.60	7,592.19
Bank Balance (Other)	1,63,981.30	1,10,451.97
Trade Receivables	4,344.52	2,995.91
Loans	51,280.67	36,987.75
Investments	2,573.55	2,015.86
Total Non-Financial Assets	6,998.42	6,864.51
Total Assets	2,39,037.91	1,68,886.13
Trade Payables	91,698.46	73,176.51
Debt Securities	29,528.07	8,743.25
Borrowings (Other)	49,262.54	25,085.05
Lease Liabilities & Other Financial	5,732.61	4,357.31
Total Non-Financial Liabilities	1,303.56	1,132.35
Equity Share Capital	910.86	902.94
Other Equity	60,267.05	55,311.04
Non-Controlling Interest	311.39	177.04
Total Liabilities and Equity	2,39,037.91	1,68,886.13

• Asset Expansion: The total balance sheet expanded rapidly to ₹239.0 billion. This was primarily driven by a 40.3% surge in cash and bank balances (₹165.6 billion) due to a sharp increase in client balances and mandatory margins placed with exchanges.
• Loan Book: Supported by healthy delivery-based client activity, the client funding book (Loans) surged by 41.2% to roughly ₹54.5 billion.
• Liabilities & Capital: Total borrowings increased by 132.9% to ₹78.8 billion to fund the growing margin obligations at clearing corporations and the expanding client funding book. The consolidated net worth grew to a formidable ₹61.5 billion, reinforced by strong retained earnings and equity-settled share-based payment reserves.

Cash Flow

Cash Flow Activity	FY26 (₹ in million)	FY25 (₹ in million)
Net Cash Used In Operating Activities	(41,417.42)	(18,598.42)
Net Cash Used In Investing Activities	(1,109.28)	(3,408.22)
Net Cash Generated From Financing Activities	36,558.24	19,169.05
Net Increase / (Decrease) in Cash and Cash Equivalents	(5,968.46)	(2,837.59)

• Operating Outflows: The organization generated a massive operating profit before working capital changes of ₹19.6 billion. However, extensive deployment into the rapidly scaling client funding book and heightened margin placements with exchanges drove a heavy working capital requirement, resulting in a net operating outflow of ₹41.4 billion.
• Investing Dynamics: Net cash used in investing moderated to ₹1.1 billion. Capital was allocated toward capacity expansion for disaster recovery data centers and technology infrastructure.
• Financing Activities: To fuel its operational expansion and margin requirements, the enterprise sourced ₹36.6 billion through financing, tapping into elevated debt securities and banking facilities.

Board of Directors and Leadership Team

The corporate governance framework is driven by a diverse, independent, and highly experienced leadership group.

• Dinesh Thakkar (Chairman and Managing Director): A capital markets veteran with over three decades of experience. He is the original architect of the enterprise, successfully revolutionizing retail stock broking and steering the platform from a traditional broker to an AI-native ecosystem. He chairs the Corporate Social Responsibility Committee.
• Ambarish Kenghe (Group Chief Executive Officer & Whole-Time Director): Appointed to the board in April 2025. Brings extensive expertise in fintech, e-commerce, and consumer electronics, having previously spearheaded AI/ML-powered innovations across major tech landscapes.
• Amit Majumdar (Group Chief Strategy Officer & Whole-Time Director): Holds over 20 years of experience in business leadership and strategy. He orchestrates strategic initiatives across the company and serves on the Stakeholders’ Relationship Committee.
• Mala Todarwal (Non-Executive Independent Director): A practicing Chartered Accountant and partner at M/s. Arun Todarwal & Associates LLP. She brings over 17 years of deep financial acumen and corporate governance control experience across multiple sectors. She is the Chairperson of both the Audit Committee and the Stakeholders Relationship Committee.
• Muralidharan Ramachandran (Non-Executive Independent Director): Brings over 37 years of IT/ITES and cybersecurity experience. A former CIO and CTO, he guides digital transformation and technology risk oversight. He serves as Chairperson for the Risk Management Committee, ESG Committee, and Cyber Security and Information Technology Committee.
• Krishna Iyer (Non-Executive Director): A chartered accountant and technology fusioneer with over 15 years of experience in software quality analytics and culture transformation. He has lived and worked extensively across the Americas and Europe.
• Kalyan Prasath (Non-Executive Independent Director): Possesses over three decades of APAC business technology experience. Specializes in IT Strategy, Information Security, Data Leakage Prevention, and IT Governance.
• Krishnaswamy Arabadi Sridhar (Non-Executive Independent Director): An expert with over 30 years of experience spanning Finance, Investment Management, Credit, Project Finance, and Business Strategy.
• Arunkumar Nerur Thiagarajan (Non-Executive Independent Director): Brings over 30 years of diverse industry experience across Banking, Financial Services, Technology, and Telecom.

Executive Management & KMPs:

• Vineet Agrawal – Group Chief Financial Officer
• Ravish Sinha – Group Chief Product and Technology Officer
• Naheed Patel – Company Secretary and Compliance Officer
• Subhash Menon – Group Chief Human Resources Officer
• Sridhar Govardhan – Group Chief Information Security Officer
• Manmohan Singh – Group Chief Risk Officer

Subsidiaries, Associates, and Joint Ventures

The enterprise utilizes a network of specialized, 100%-owned subsidiaries and joint ventures to isolate risk and scale its diversified offerings.

• Angel Financial Advisors Private Limited (100%): Revenue: ₹382.00 million (0.74% of total income).
• Angel One Wealth Limited (100%): Revenue: ₹223.97 million (0.43% of total income). Acts as the primary wealth management vehicle.
• Angel One Investment Services Private Limited (100% Step-down): Revenue: ₹192.05 million (0.37% of total income).
• Angel One Investment Managers & Advisors Private Limited (100% Step-down): Revenue: ₹78.35 million (0.15% of total income).
• Angel Digitech Services Private Limited (100%): Revenue: ₹61.85 million (0.12% of total income).
• Angel Fincap Private Limited (100%): Revenue: ₹57.26 million (0.11% of total income).
• Angel One Asset Management Company Limited (100%): Revenue: ₹45.51 million (0.09% of total income). Manages the passive investment ETF and mutual fund portfolios.
• Angel One Foundation (100%): Revenue: ₹15.37 million (0.03% of total income). Executes Corporate Social Responsibility mandates.
• Mimansa Software Systems Private Limited (100%): Revenue: ₹14.00 million (0.03% of total income).
• Angel Crest Limited (100%): Revenue: ₹12.98 million (0.03% of total income).
• Angel Securities Limited (100%): Revenue: ₹8.07 million (0.02% of total income).
• Angel One Trustee Limited (100%): Revenue: ₹0.05 million (0.00% of total income).
• Angel One LivWell Life Insurance Limited (26% Associate): Revenue: Nil (Incorporated in September 2025). The strategic joint venture vehicle targeting the domestic protection gap.

Other Investments (Including Minority / Portfolio Holdings)

The enterprise allocates capital into strategic minority and portfolio investments categorized by fair value measurements.

• Investment in Mutual Funds/ETFs (FVTPL): Totaling ₹2,046.56 million. The portfolio is deeply diversified across liquid and ultra-short-term funds, with top allocations including Aditya Birla Sun Life Liquid Fund (₹598.76m), ICICI Prudential Liquid Fund (₹446.37m), LIC Liquid Fund (₹126.03m), and HDFC Liquid Fund (₹125.97m).
• Investment in Bonds (Amortised Cost): Totaling ₹396.38 million. Includes strategic debt allocations such as Ugro Capital Ltd (₹158.64m), 5.74% GOI Loan 2026 (₹107.26m), and 6.99% GOI Loan 2026 (₹67.52m).
• Investment in Redeemable Bonds (FVTPL): Totaling ₹118.98 million. Allocations include Indel Money Ltd (₹58.83m), IIFL Finance Limited (₹50.11m), and Manba Finance Ltd (₹7.33m).
• Portfolio Management Services (FVTPL): Totaling ₹5.36 million. Deployed across Ionic allocate portfolio, Ionic navigator, and Ionic midcap strategies.
• MF Utilities India Private Limited: Equity holding measured at FVTPL valued at ₹4.97 million (500,000 shares).

Physical Properties

While fundamentally a digital entity, the platform utilizes physical infrastructure to support operations and host employees.

• Total Facilities: The enterprise operates 40 physical office locations across the nation.
• Ownership Breakdown: This consists of 6 owned properties, 24 co-location spaces, and 10 rented offices.
• Data Infrastructure: The company leverages two dedicated, co-located physical data centers managed by a third-party service provider to secure platform uptime and scalability.
• Investment Property: The company holds one owned residential property located in India for investment and lease purposes.

Founders

The enterprise was founded in 1996 by Dinesh Thakkar. Starting from a modest single-room operation utilizing walkie-talkies to access exchange data, Thakkar’s foundational conviction was to democratize access to wealth creation. He continues to serve as the Chairman and Managing Director, having successfully navigated the enterprise from traditional retail stockbroking into a massive, AI-enabled fintech ecosystem.

Parent

Angel One Limited operates as the ultimate holding company for the group. There is no parent entity above it.

Investments and Capital Expenditure Plans

The enterprise is heavily focused on reinvesting capital into its structural moat: technology.

• Capital Commitments: The consolidated capital commitment for the purchase of property, plant, equipment, and intangible assets stands at ₹186.68 million.
• Technology & AI Expansion: Investments are intensely directed toward “Agentic AI” to automate internal workflows, accelerate engineering throughput, and power tools like the Data Analyst Agent (DAA) and Ask Angel chatbot. Over 50% of software development is now augmented by AI.
• Strategic Horizons: The Board has approved an operational foray into GIFT City to open pathways for seamless global investing for Indian clients. Additionally, the AMC pipeline involves significant investments into expanding smart-beta and passive commodity strategies.

Shareholding Pattern

The company’s equity structure (as of March 31, 2026) is broadly diversified across institutional and public markets.

• Promoters and Promoter Group: Retain a 28.80% stake (26,22,82,050 shares). Dinesh Thakkar personally holds the largest single block at 18.41%. Nirwan Monetary Services Private Limited holds 6.66%.
• Public and Institutional Holdings: Account for the remaining 71.2050% (64,85,77,180 shares).
  • Mutual Funds: 16.771%
  • Foreign Portfolio Investors (Corporate): 12.565%
  • Insurance Companies: 1.6445%
  • Alternative Investment Funds: 0.4665%

Future Strategy

The management’s strategic vision is to transition from an enabler of market access into an omnipresent financial lifecycle partner.

• The “Full Stack” Ecosystem: Deepening cross-product engagement to increase customer lifetime value. This involves scaling the newly launched wealth management, credit distribution, and passive asset management frameworks.
• Insurance Foray: Establishing a digital-first life insurance business via the LivWell Joint Venture to capture India’s massive 83% protection gap.
• Deepening “Bharat” Access: Continuing to scale within Tier 2, Tier 3, and emerging markets, leveraging the omnichannel network of digital apps and assisted distribution partners.
• Global Diversification: Operationalizing the GIFT City presence to facilitate international asset exposure for the affluent and HNI segments.

Key Strengths

• Dominant Market Position: Commanding a 16.7% share of India’s total demat accounts and executing 20.2% of overall retail equity turnover.
• Deep Penetration: Successfully capturing the “Bharat” demographic, with 89% of gross client acquisitions coming from non-metro regions.
• Technological Moat: Advanced, horizontally scalable cloud-native infrastructure that processed 1.5 billion orders with high availability. Embedded intelligence and conversational AI tools significantly reduce service friction and query latency.
• Exceptional Operating Leverage: The mature broking engine delivers potent economics, yielding a standalone EBDAT margin of 38.1% and generating massive cash flows to self-fund emerging businesses.

Key Challenges and Risks

• Regulatory Shifts: The domestic market environment remains highly dynamic. Recalibrations—such as the SEBI index derivative regulations, True-to-Label mandates, and the upstreaming of client cash margins—can introduce transient friction and temporarily elevate financing costs.
• Systemic and Cyber Risk: Serving over 37 million digital users exposes the platform to persistent cyber-attack vectors and system disruption risks. The organization mitigates this via strict ISO 27001:2022 standards and multi-homed disaster recovery infrastructure.
• New Business Execution: Incubating long-cycle businesses like Wealth and Asset Management requires patient capital and upfront investments, which temporarily impacted consolidated margins by approximately 3.1% during the year.
• Macroeconomic Volatility: The business is sensitive to broader geopolitical tensions, global trade policy shifts, and interest rate cycles that can influence retail market participation and liquidity.

Conclusion and Strategic Outlook

Angel One has successfully scaled beyond its legacy origins to forge a modern, AI-powered financial operating system. While the fiscal year was characterized by industry-wide regulatory recalibrations and softening macro environments, the underlying engagement metrics—evidenced by 37.4 million clients and a rapidly expanding ₹53.0 billion funding book—demonstrate immense structural durability.

Looking ahead, India is entering a multi-decade phase of financialization. The migration of household savings toward capital markets presents an unprecedented tailwind. By cementing its technological moat with Agentic AI, deploying capital-light distribution models for credit, and filling market gaps in wealth and protection, the enterprise is highly equipped to convert massive scale into durable, compounding long-term value.

FAQ Section

1. What is Angel One’s core business model? Angel One operates as a full-stack, digital-first financial services platform offering retail broking, margin trading, mutual fund distribution, credit matching, and wealth management.

2. How many clients does Angel One serve? As of FY26, the company serves a massive base of 37.4 million clients.

3. What is the company’s total revenue and profit? For FY26, the company reported consolidated total income of ₹51,522.34 million and a Profit After Tax (PAT) of ₹9,150.99 million.

4. Where do most of Angel One’s new customers come from? The company has deep penetration across India, with 89% of its gross client acquisitions coming from Tier 2 and beyond cities.

5. How big is Angel One’s market share in India? The platform holds a 16.7% market share in total Demat accounts and accounts for 20.2% of the overall retail equity turnover in the country.

6. Does the company offer loans or credit directly? No, Angel One operates an asset-light credit distribution model. It distributed ₹20.1 billion in credit by using proprietary AI to match customers with seven marquee lending partners, without exposing its own balance sheet.

7. How is AI used within the Angel One platform? The company embeds AI across its ecosystem. It utilizes ‘Ask Angel’, a chatbot that autonomously resolves >80% of client queries, the Data Analyst Agent (DAA) for internal decision velocity, and Agentic AI within its software development lifecycle.

8. What is Ionic Wealth? Ionic Wealth is the strategic wealth management brand of Angel One, targeting affluent, HNI, and UHNI clients with a mix of expert human advisory and digital portfolio analytics. It manages an AUM of ₹100.8 billion.

9. Are there physical branches for Angel One? While predominantly digital, the company maintains 40 physical offices across India to support operations and assist distribution partners.

10. What is the dividend per share for FY26? The company paid a basic Earnings Per Share (EPS) of ₹10.09 and executed two interim dividends during the year amounting to ₹24.75 per share.

Official Site: https://www.angelone.in/

Source: Content on FirmsWorld.com is based on publicly available corporate filings, regulatory disclosures, annual reports, SEC 10-K filings, investor relations materials, and, where applicable, direct communications with the company.