Angel One's Q1 FY26: Client Surge & Funding Book Hits New High! 🚀
Hey there, finance enthusiasts! Let’s dive into the latest business updates from Angel One Limited (ANGELONE) for Q1 FY26, covering the period from April to June 2025. It’s always insightful to peek under the hood of a leading brokerage firm to understand market trends and their operational prowess.
Angel One has reported some compelling numbers, showcasing continued growth in its user base and a significant milestone in its client funding. While the broader F&O market saw a somewhat subdued period in June 2025 due to various external factors, Angel One managed to grow its client funding book to an impressive all-time high. This speaks volumes about investor trust and the platform’s ability to facilitate diverse financial activities.
Here’s a quick snapshot of the key metrics for Q1 FY26:
| Particulars | Q1 FY26 | Q-o-Q Growth (%) | Y-o-Y Growth (%) |
|---|---|---|---|
| Client Base (Mn) | 32.47 | 4.7% | 31.3% |
| Avg Client Funding Book (Rs. Bn) | 42.06 | 4.3% | 60.2% |
| Number of Orders (Mn) | 343.11 | 4.8% | -25.8% |
| Overall ADTO (Notional Turnover, Rs. Bn) | 35,888 | 11.7% | -18.0% |
| Overall ADTO (Option Premium Turnover, Rs. Bn) | 1,048 | 23.2% | 40.0% |
| Cash ADTO (Rs. Bn) | 81 | 24.7% | -7.7% |
| Commodity ADTO (Rs. Bn) | 832 | 25.8% | 68.2% |
| Overall Equity Retail Turnover Market Share (Option Premium Turnover, %) | 19.7% | -17 bps | 85 bps |
Let’s break down some of these figures and what they mean:
Client Base & Engagement
Angel One’s client base continues its impressive expansion, growing to 32.47 million in Q1 FY26. That’s a whopping 31.3% jump year-on-year! This robust growth highlights the increasing adoption of digital broking platforms in India. While gross client acquisition saw a slight quarter-on-quarter dip and a larger year-on-year decline, the overall client base growth remains a strong indicator of the company’s long-term appeal. The number of orders also saw a healthy 4.8% quarter-on-quarter increase, although it was down year-on-year.
Funding and Turnover Insights
One of the standout figures is the Average Client Funding Book, which surged by 60.2% year-on-year to hit Rs. 42.06 billion. This indicates that more clients are leveraging the funding options provided by Angel One, which is a key revenue driver for the company.
When it comes to trading volumes, the Average Daily Turnover (ADTO) presents a nuanced picture. While the notional turnover for F&O saw a year-on-year decline (as the company noted, F&O activity was subdued), the more revenue-relevant Option Premium Turnover showed strong growth. Overall ADTO based on Option Premium turnover grew by a significant 40% year-on-year and 23.2% quarter-on-quarter, reaching Rs. 1,048 billion. This is a positive sign as premium turnover directly reflects the cash value of options traded.
Other segments also showed promising growth: Cash ADTO increased by 24.7% quarter-on-quarter, and Commodity ADTO impressively rose by 25.8% quarter-on-quarter and 68.2% year-on-year. This diversification in trading segments helps balance the impact of fluctuations in any single market.
Market Share Dynamics
In terms of market share, Angel One maintained a strong position. Its retail turnover market share for overall equity (based on Option Premium Turnover) was 19.7%, marking an 85 basis points (bps) gain year-on-year, despite a slight quarter-on-quarter dip. The F&O segment market share also saw a 59 bps year-on-year gain, reaching 21.0%. This indicates that Angel One is effectively capturing a larger piece of the growing retail trading pie, especially in the options segment which has seen explosive growth in India [Source: NSE data, various reports on Indian derivatives market].
Overall, Angel One’s Q1 FY26 results paint a picture of a company with strong underlying growth in its client base and funding book, effectively navigating market-specific challenges in certain high-volume segments while capitalizing on others. It will be interesting to see how these trends evolve in the coming quarters!
source: Corporate Announcement
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