Key Highlights
- Angel One client base rose 20.5% YoY to 37.39 million in March 2026.
- Gross client acquisition stood at 0.51 million in March 2026 down 10.7% YoY.
- Average daily orders increased 37.1% YoY to 7.37 million in March.
- Average client funding book grew 43.0% YoY to ₹55.05 billion.
- Options premium turnover surged 86.7% YoY to ₹1,553 billion in FY26.
- Retail equity market share improved to 20.2% in FY26.
Angel One Limited reported its operational performance for March 2026 and the fourth quarter of FY26, highlighting steady client growth, improved trading activity, and strong expansion in derivatives turnover despite some moderation in customer acquisition.
The company’s total client base reached 37.39 million in FY26, marking a 20.5% year-on-year increase compared to 31.02 million in FY25. However, gross client acquisition declined 26.1% YoY to 6.85 million, indicating a slowdown in new user additions amid changing market conditions.
Angel One’s average client funding book rose sharply by 45.3% YoY to ₹53.05 billion, reflecting higher client engagement and capital deployment. At the same time, average daily orders fell 10.6% YoY to 6.16 million, suggesting a moderation in trading intensity.
Strong Growth in Derivatives Segment
The company reported significant growth in derivatives trading. Options premium turnover surged 86.7% YoY to ₹1,553 billion, driven by increased participation in the F&O segment. However, F&O turnover within this segment saw a marginal decline of 3.8% YoY.
On a notional turnover basis, Average Daily Turnover (ADTO) increased 19.4% YoY to ₹48,180 billion, with the F&O segment contributing ₹46,768 billion, up 17.9% YoY.
Quarterly Performance Shows Momentum
During Q4 FY26, Angel One reported continued momentum:
- Client base grew 4.7% quarter-on-quarter
- Gross client acquisition rose 4.4% QoQ to 1.82 million
- Total orders increased 13.3% QoQ to 430.66 million
- Average daily orders rose 15.2% QoQ to 7.18 million
The quarterly ADTO based on notional turnover stood at ₹56,688 billion, reflecting a 2.4% QoQ increase and a strong 76.4% YoY growth.
Market Share Trends
Angel One maintained its position in the retail segment with stable gains:
- Retail equity market share improved to 20.2% in FY26, up 75 basis points YoY
- F&O market share increased to 21.7%, up 63 basis points YoY
- Cash market share rose to 18.0%, up 78 basis points YoY
- Commodity market share declined to 56.4%, down 317 basis points YoY
Monthly Trends Indicate Mixed Signals
For March 2026, the company reported:
- Client base at 37.39 million, up 20.5% YoY
- Gross client acquisition at 0.51 million, down 10.7% YoY
- Average daily orders at 7.37 million, up 37.1% YoY
- Average client funding book at ₹55.05 billion, up 43.0% YoY
- Client base rose to 37.39 million, up 1.4% MoM from 36.87 million in February 2026.
- Gross client acquisition stood at 0.51 million, declining 13.6% MoM compared to 0.59 million in February.
- Average daily orders increased to 7.37 million, up 2.6% MoM from 7.18 million.
- Average client funding book came in at ₹55.05 billion, down 1.8% MoM from ₹56.06 billion in February.
However, on a month-on-month basis, several metrics showed moderation, including client additions and funding balances.
Angel One noted that business momentum improved during the quarter, with average daily orders reaching a 17-month high. Strong client activity supported market share gains, particularly in the derivatives and commodity segments. However, softer macroeconomic conditions and geopolitical uncertainties contributed to moderation in client funding growth and cash market share.