Angel One share: What analysts say post Q3 results, stock split, dividend declaration
MOFSL said Angel One's Q3 costs were controlled with flattish employee expenses and a decline in customer acquisition costs.
- Jan 16, 2026,
- Updated Jan 16, 2026 11:42 AM IST
Analysts on Friday said Angel One Ltd’s revenue growth and operational efficiency led to a profit beat in the December quarter. Angel One maintained sequential growth momentum during the quarter, with the industry witnessing a recovery in futures and options (F&O) activity and a sharp surge in commodity trading, which offset the impact of market volatility on retail cash activity, MOFSL said.
MOFSL said Angel One's Q3 costs were controlled with flattish employee expenses and a decline in customer acquisition costs. The new business of loan distribution witnessed strong growth during the quarter, it said.
"Other new businesses, such as the distribution of fixed deposits, wealth management, and AMC, are likely to gain traction over the medium term. We may review our estimates after the earnings call," it said. For now the brokerage has suggested a 'Buy' on the Angel One stock.
JM Financial said Angel One reported strong results. It said while Infosys Q3 profit was 3 per cent below its estimates, yet it was a positive surprise following the weak business update for the month of December.
"After a strong October where Angel had seen a daily order run rate of 67 lakh, the daily order run rate had declined to 59 lakh orders per day by December. For Q3, broking orders grew 6 per cent QoQ to 38 crore and revenue per broking order grew to Rs 16, up 5 poer cent QoQ. EBDAT margin was strong at 39 per cent, ahead of JMFe. This supported broking revenues," JM Financial said.
MOFSL said Angel One's board declared an interim dividend of Rs 23 per share and also approved split of shares in the ratio 1:10. It noted that Angel One's December quarter saw a continued rise in F&O activity after the resetting of the base post-F&O regulations in Q4FY25, with Angel reporting a 7 per cent sequential increase in F&O orders (6 per cent F&O revenue growth QoQ).
"A volatile market environment resulted in a 7 per cent sequential decline in cash orders (while cash revenue jumped 11 per cent QoQ). A surge in commodity activity resulted in a 24 per cent sequential growth in commodity orders (11 per cent sequential growth in commodity revenue)," MOFSL said.
PAT for the quarter came in at Rs 269 crore, down 5 per cent YoY. It beat Street expectations by a 5 per cent, led by revenue growth and operational efficiency. Gross revenue was down 5 per cent YoY but up 8 per cent sequentially.
"While period end-book looks flat, average client funding book grew 11 per cent QoQ, leading to strong interest income. We will wait for the concall to the update our estimates," JM said.
MOFSL said average client funding book jumped 10 per cent QoQ Rs 5860-odd crore. It said sustained SIP momentum with AUM of Rs 17,100 crore, and credit disbursal growth of 56 per cent QoQ to Rs 710-odd crore during the quarter, led to a 29 per cent sequential growth in distribution revenue.
Analysts on Friday said Angel One Ltd’s revenue growth and operational efficiency led to a profit beat in the December quarter. Angel One maintained sequential growth momentum during the quarter, with the industry witnessing a recovery in futures and options (F&O) activity and a sharp surge in commodity trading, which offset the impact of market volatility on retail cash activity, MOFSL said.
MOFSL said Angel One's Q3 costs were controlled with flattish employee expenses and a decline in customer acquisition costs. The new business of loan distribution witnessed strong growth during the quarter, it said.
"Other new businesses, such as the distribution of fixed deposits, wealth management, and AMC, are likely to gain traction over the medium term. We may review our estimates after the earnings call," it said. For now the brokerage has suggested a 'Buy' on the Angel One stock.
JM Financial said Angel One reported strong results. It said while Infosys Q3 profit was 3 per cent below its estimates, yet it was a positive surprise following the weak business update for the month of December.
"After a strong October where Angel had seen a daily order run rate of 67 lakh, the daily order run rate had declined to 59 lakh orders per day by December. For Q3, broking orders grew 6 per cent QoQ to 38 crore and revenue per broking order grew to Rs 16, up 5 poer cent QoQ. EBDAT margin was strong at 39 per cent, ahead of JMFe. This supported broking revenues," JM Financial said.
MOFSL said Angel One's board declared an interim dividend of Rs 23 per share and also approved split of shares in the ratio 1:10. It noted that Angel One's December quarter saw a continued rise in F&O activity after the resetting of the base post-F&O regulations in Q4FY25, with Angel reporting a 7 per cent sequential increase in F&O orders (6 per cent F&O revenue growth QoQ).
"A volatile market environment resulted in a 7 per cent sequential decline in cash orders (while cash revenue jumped 11 per cent QoQ). A surge in commodity activity resulted in a 24 per cent sequential growth in commodity orders (11 per cent sequential growth in commodity revenue)," MOFSL said.
PAT for the quarter came in at Rs 269 crore, down 5 per cent YoY. It beat Street expectations by a 5 per cent, led by revenue growth and operational efficiency. Gross revenue was down 5 per cent YoY but up 8 per cent sequentially.
"While period end-book looks flat, average client funding book grew 11 per cent QoQ, leading to strong interest income. We will wait for the concall to the update our estimates," JM said.
MOFSL said average client funding book jumped 10 per cent QoQ Rs 5860-odd crore. It said sustained SIP momentum with AUM of Rs 17,100 crore, and credit disbursal growth of 56 per cent QoQ to Rs 710-odd crore during the quarter, led to a 29 per cent sequential growth in distribution revenue.