Angel One reported a business update for June 2026 and the first quarter of FY27, highlighting growth in its client base and funding book alongside shifts in market share across segments. The company's average client funding book reached a record high of ₹61.37 Bn in Q1 FY27, reflecting the continued expansion of its margin funding business. While cash market share improved sequentially, commodity market share moderated due to overall market expansion and a shift in product mix.

Operational Performance

The client base grew 18.8% year-on-year to 38.59 Mn in Q1 FY27, up from 32.47 Mn in the same period last year. Sequentially, the client base increased 3.2% from 37.39 Mn in Q4 FY26. Gross client acquisition, however, declined 13.6% YoY to 1.34 Mn and fell 26.7% quarter-on-quarter. The number of orders for the quarter stood at 406.14 Mn, an 18.4% YoY increase but a 5.7% decline from the previous quarter.

Average daily orders decreased 5.7% quarter-on-quarter to 6.77 Mn, though they remained above the FY26 average, indicating sustained client engagement. The table below details the operational metrics for Q1 FY27:

Turnover and Market Share

Angel One's Average Daily Turnover (ADTO) based on option premium surged 149.8% YoY to ₹2,617 Bn in Q1 FY27, driven by a 38.7% quarter-on-quarter increase. Commodity ADTO also saw significant growth, rising 184.6% YoY to ₹2,367 Bn. However, ADTO based on notional turnover declined 7.6% quarter-on-quarter to ₹52,402 Bn, though it remained 46.0% higher than the previous year.

In terms of market share, retail turnover based on option premium for overall equity stood at 20.2% in Q1 FY27, up 46 basis points YoY. Cash turnover market share improved to 17.4% from 17.2% in the previous quarter. Conversely, commodity turnover market share fell to 52.3% from 54.1% in Q4 FY26. The following table outlines the turnover metrics:

The information was reviewed by the management team. Angel One intends to provide these updates on a monthly basis.

Angel One Limited promoter Dinesh Thakkar, along with the promoter group and persons acting in concert, collectively hold 2,62,28,2050 equity shares as of March 31, 2026. In a disclosure submitted to the stock exchanges, Thakkar confirmed that none of these shares are encumbered directly or indirectly during the financial year ended March 31, 2026. This declaration was made pursuant to Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disclosure clarifies that the term encumbrance includes any restriction on the free and marketable title to shares, pledge, lien, negative lien, non-disposal undertaking, or any similar covenant. The filing ensures that the shareholding remains free from such liabilities, which is critical for maintaining the voting rights and transferability of the shares held by the promoters.

Shareholding Details

The filing provided a detailed breakdown of the promoters and promoter group members, confirming zero encumbered shares across the board. The list includes individual promoters and various group entities.

The disclosure was addressed to the Chairman of the Audit Committee of Angel One Limited and the listing departments of the National Stock Exchange of India Limited and BSE Limited.