Angel One’s Performance Analyzed
Angel One, a major stockbroker in India, had a mixed quarter in December 2025. They saw a significant growth in the number of customers they serve, but this growth was offset by a decrease in how much trading was happening overall. This report breaks down the key numbers to give you a clear picture of the company’s performance.
Key Points
- 35.71 million clients – a 21% yearly increase in customer base.
- Monthly client growth: 1.8% increase in December 2025.
- Client acquisition fell 12.8% year-over-year.
- ADTO (Rs 53.37 Trillion): 0.2% MoM decline, 83.9% YoY surge.
- F&O segment dominated, with a 0.4% MoM decline and 82.1% YoY rise.
- Commodity segment experienced massive growth (178.2%) year-over-year.
Customer Growth
Angel One gained a lot of new clients – up 21% compared to the previous year, reaching 35.71 million. This shows they’re attracting more people to use their services. They also grew their customer base slightly month-to-month, increasing by 1.8% from November 2025.
Trading Activity
However, the total amount of trading happening through Angel One decreased. The Average Daily Turnover (ADTO), which measures the total value of trades, dropped by 0.2% month-over-month and 83.9% year-over-year. This means fewer trades were occurring at higher volumes.
Segment Breakdown
The trading activity varied across different parts of Angel One’s business. The Futures & Options (F&O) segment, which is a large part of their business, saw a substantial increase in trading activity, jumping 82.1% year-on-year. The commodity segment had a massive surge, up 178.2% year-over-year, indicating strong interest in those markets. The cash segment experienced a decline in activity, down 8.2% month-over-month.
Financial Results
Despite the growth in clients and trading activity, the company’s overall revenue fell by 20.56% and their net profit dropped significantly by 49.98% in Q2 FY26. The stock price also decreased by 2.44% on the BSE.
Angel One’s growth in clients doesn’t automatically translate into bigger profits, highlighting the importance of sustained trading activity.
