The company reported a net profit of Rs 320 crore, marking an increase of 84% year-on-year. Angel One’s total gross revenue jumped 39% YoY to Rs 1,467 crore, while assets under management (AUM) grew to Rs 360 crore at the end of the quarter under review.
Management said the performance was driven by a recovery in client participation and increased use of digital platforms. The company also highlighted ongoing investments in AI-led capabilities to enhance customer experience and improve operational efficiency.
Is it time to buy Angel One shares?
Motilal Oswal Financial Services has reiterated its Buy rating on Angel One and raised the target price to Rs 400 per share, implying an upside of over 25.3% from the previous closing price. The brokerage said management expects steady improvement in operating margins, with the broking segment potentially delivering margins of more than 45%. However, it cautioned that new businesses will continue to see a burn rate of 250–300 basis points for the next few years until they scale up and reach breakeven. Motilal Oswal also raised its FY27 and FY28 EPS
estimates by 12% and 19%, respectively, citing improved order run-rate and efficiency gains from automation in employee costs.
Elara Securities has maintained its Buy rating on the stock with a target price of Rs 350, suggesting an upside of 10%. The brokerage expects margins to improve through FY27, supported by operating leverage. However, it flagged the possibility of near-term pressure on margins due to higher spending related to the IPL.
Also read: PNB Housing Finance soars 10% post Q4 results: Why Morgan Stanley, other brokerages remain bullishJM Financial has downgraded Angel One to Add from Buy, while increasing its target price by 5% to Rs 350 from Rs 333. The brokerage highlighted that the company reported strong Q4 results, driven by higher revenue per order and controlled costs. It also noted that the stock has gained 40% since September 2025, and believes current valuations already reflect near-term earnings momentum.
Angel One vs Groww?
International brokerage firm Jefferies says Groww has demonstrated stronger recovery in order volumes and better profitability compared to Angel One, despite more than a year of headwinds from SEBI’s regulatory changes in F&O and weak equity markets. Over this period, Groww has shown greater resilience and a stronger ability to cross-sell products.
It also highlighted that Groww’s cash orders have grown sequentially over the past two quarters, while options orders in the last two quarters have exceeded levels seen in Q3FY25. In comparison, Angel One’s cash orders have continued to decline, and its options orders have only recently returned to pre-regulatory change levels.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)