Shares of Angel One rose more than 10% after the company released its earnings report for the March quarter (Q4 FY26), which demonstrated strong sequential growth across key indicators. The stock closed at ₹322.47 on the National Stock Exchange (NSE), reaching an intraday high of ₹324.40, a significant increase from the previous close of ₹292.61.
In Q4 FY26, Angel One reported a consolidated profit after tax of ₹320.2 crore, up from ₹268.7 crore in Q3 FY26. This marks a 19.2% increase quarter-on-quarter and an impressive 83.4% rise from ₹174.5 crore in Q4 FY25. Total gross revenue reached ₹1,467.2 crore, a 9.7% increase from ₹1,337.7 crore in the prior quarter, indicating steady business momentum.
The company’s operating performance also showed improvement, with consolidated Earnings Before Depreciation, Amortization, and Tax (EBDAT) climbing to ₹472.8 crore in Q4 FY26 compared to ₹405 crore in Q3 FY26, reflecting a 16.7% rise quarter-on-quarter. Assets under management (AUM) reached ₹10,080 crore as of March 2026, representing a substantial 22.7% increase from the previous quarter and indicating robust client inflows and market activity.
On the capital front, Angel One raised ₹50 crore during the quarter through a private placement of non-convertible debentures (NCDs). The board approved an increase in borrowing limits up to ₹20,000 crore and plans to raise up to ₹1,500 crore through NCDs in multiple tranches. The company also committed to strategic investments of ₹150 crore each in its wholly-owned subsidiaries, Angel Fincap Private Limited and Angel One Wealth Limited, to enhance its financial services ecosystem.
The combination of improved earnings, rising AUM, and strategic capital allocation plans seemed to bolster investor sentiment, resulting in a stock price increase following the Q4 announcement. Dinesh Thakkar, Chairman & Managing Director of Angel One, noted, “Angel One is proactively aligning to this shift through disciplined execution, strengthening its core business while scaling new growth engines. Business performance for the quarter reflected an improvement in client activity, average daily orders, and operating margins returning to our guided range, reinforcing our confidence in the structural drivers of the core business.”
Ambarish Kenghe, Group CEO of Angel One, highlighted that FY26 was pivotal due to deeper integration of artificial intelligence within the company. He mentioned upgrades to the “Ask Angel” platform into a conversational assistant and noted that approximately 25% of code is now AI-generated, improving efficiency and speed.
Following the Q4 FY26 performance, brokerages maintained a positive outlook on Angel One, citing robust earnings growth and consistent trading momentum. Citi retained a “buy” rating with a target price of ₹340, emphasizing the 84% year-on-year profit growth, which exceeded its expectations by 6%. The brokerage reported a 19% quarter-on-quarter increase in core profit before tax, driven by increased trading volumes and a reversal in employee costs, while retail activity remained strong amid market volatility.
Investec also endorsed a “buy” rating with a target price of ₹340, attributing the earnings success to higher broking realizations and increased net interest income. The brokerage noted the effectiveness of the company’s digital-first model in driving operational leverage and acknowledged the growing momentum in wealth management initiatives, although it cautioned that cash market share is an area to monitor closely. Valuations are considered reasonable at current levels.
Published on April 17, 2026.
