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Angel One Ltd

Q3 FY25Capital Markets

Angel One Q3 FY25 earnings call: Revenue & Margins

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹288
Market cap₹27.3K Cr
P/E26.5
Updated23 Aug 2026
Read4 min read

The short version

Angel One expects to grow revenues and volumes significantly over the next 2-5 years through multiple new verticals including credit, insurance, mutual funds, and wealth management. Angel One foresees a recovery and normalization in revenue growth within 2-3 quarters post a 18-20% one-time revenue hit due to regulatory and market factors (Page 17, 24).

From Angel One Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Angel One expects to grow revenues and volumes significantly over the next 2-5 years through multiple new verticals including credit, insurance, mutual funds, and wealth management.
  • Despite a one-time 18-20% revenue hit from regulatory changes and market slowdown, strong customer growth of 40-45% is expected to offset this impact within a few quarters.
  • Cross-selling different financial services will help increase customer wallet share and sustain long-term revenue growth.
  • The company aims to become a leader in each service vertical within 3-5 years, contributing materially to topline and bottom line.
  • AI and technology adoption are expected to improve operational efficiency and revenue per employee, facilitating scalable growth.

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Profitability & Margins

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Capital Expenditure Plans

  • The company has made significant investments in technology, analytics capability, and product innovation to support client acquisition and the Super App strategy (Page 4).
  • Launch of Ionic Wealth app and expansion of geographical footprint with offices in 7 cities and a team of 140 professionals in wealth and asset management (Page 8).
  • Continued investment in assisted business and channel partner expansion, including mutual fund distributors and insurance distribution network (Page 24).
  • Plans to invest in senior management and build out verticals like insurance, credit, mutual funds, and wealth management, with costs already largely factored in (Pages 22-24).

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Top-ranked in Capital Markets

Ranked on what management guided this quarter

Guidance-ranked
1BSE
Rev 2Mar 3
2Nippon Life Ind.
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

The document does not provide specific current or expected order book or pending orders data. However, relevant related insights include: - Aggregate orders for the quarter were nearly 422 million, down 13.8% sequentially, partly due to 4.7% fewer trading days. - Impact of regulatory changes and market slowdown affected order volumes. - Ancillary transaction income from orders was nil in Q3 FY 2025 compared to ₹1.15 billion in Q2. - New charges from mid-November 2024 helped partially offset revenue loss, generating ₹238 million.

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Angel One Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.5K Cr, net profit ₹320 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Angel One Ltd Q3 FY25 results?

Angel One expects to grow revenues and volumes significantly over the next 2-5 years through multiple new verticals including credit, insurance, mutual funds, and wealth management. Angel One foresees a recovery and normalization in revenue growth within 2-3 quarters post a 18-20% one-time revenue hit due to regulatory and market factors (Page 17, 24).

What is Angel One Ltd share price analysis?

Angel One Ltd currently shows a neutral. The stock trades at a P/E of 26.5 with a market cap of ₹27,338 Cr. Investors should review the full earnings analysis for detailed insights.

Is Angel One Ltd planning capital expenditure?

The company has made significant investments in technology, analytics capability, and product innovation to support client acquisition and the Super App strategy (Page 4).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.