Angel One Limited, a leading stock brokerage firm, released its business performance update for March 2025, Q4 FY25, and the full fiscal year FY25, showcasing significant year-on-year (YoY) growth across key metrics. The company, listed on the National Stock Exchange (Symbol: ANGELONE) and BSE (Scrip Code: 543235), reported a 39.5% increase in its client base, reaching 31.02 million in FY25 from 22.24 million in FY24. This growth reflects Angel One’s strong foothold in India’s retail trading market, bolstered by a 5.6% rise in gross client acquisition, adding 9.28 million new clients in FY25 compared to 8.79 million the previous year.
The company’s financial metrics painted a mixed picture. The average client funding book surged by 128.7% YoY to Rs. 36.51 billion in FY25 from Rs. 15.97 billion in FY24, signaling robust client participation in trading activities. However, March 2025 saw a 5% month-on-month (M-o-M) decline to Rs. 38.49 billion from Rs. 40.53 billion in February, attributed to fewer trading days (19 vs. 20). Trading volumes also reflected volatility, with the number of orders dropping 22.8% YoY in March to 102.08 million from 132.25 million in March 2024, though the full-year figure rose 20.7% to 1,700.35 million orders in FY25. Average daily orders (ADO) followed a similar trend, declining 26.9% YoY in March to 5.37 million but growing 19.2% for the year to 6.88 million.
Angel One’s average daily turnover (ADTO) highlighted its dominance in retail trading. The overall ADTO based on notional turnover grew 21.6% YoY to Rs. 40,352 billion in FY25 from Rs. 33,171 billion in FY24, driven by a 21.2% increase in futures and options (F&O) notional turnover to Rs. 39,670 billion. When measured by option premium turnover, overall ADTO jumped 49.1% YoY to Rs. 829 billion, with F&O premium turnover up 30.1% to Rs. 146 billion. Cash ADTO and commodity ADTO also posted strong gains of 53.3% and 94.4%, reaching Rs. 81 billion and Rs. 601 billion, respectively. However, Q4 FY25 saw a 19.8% quarter-on-quarter (QoQ) dip in overall notional ADTO to Rs. 32,125 billion, reflecting a slowdown from Q3’s Rs. 40,052 billion.
Market share gains underscored Angel One’s competitive edge. The company’s retail turnover market share in overall equity, based on option premium turnover, rose to 19.3% in FY25 from 17.1% in FY24, a gain of 226 basis points (bps). In the F&O segment, market share climbed to 21.0% from 18.5%, up 251 bps. Cash turnover market share increased by 223 bps to 16.9%, while commodity turnover market share edged up by 164 bps to 58.7%. Despite these annual gains, March 2025 showed slight M-o-M declines, with overall equity market share dropping 60 bps to 19.1% and F&O slipping 57 bps to 21.0%, indicating short-term market dynamics at play.
The report also highlighted Angel One’s growing presence in mutual fund investments, with unique mutual fund SIPs registered soaring 127.5% YoY to 7,975.34 thousand in FY25 from 3,505.09 thousand in FY24. However, Q4 FY25 saw a 15.6% QoQ decline to 1,907.57 thousand, suggesting a tapering in momentum. Naheed Patel, Company Secretary and Compliance Officer, noted that these figures, based on a limited management review, will be updated monthly as per SEBI regulations. With a strong FY25 performance, Angel One continues to solidify its position as a key player in India’s financial markets, navigating both growth opportunities and periodic challenges.