Angel One Share Price Gains Despite Sharp Drop in Q1 Profit

Market Performance

Angel One share price witnessed a positive start on July 17, trading 1.2% higher at ₹2,748 on the NSE by 9:40 AM. This came even as the company reported disappointing Q1 FY26 results, which were impacted by regulatory tightening in the derivatives market by SEBI.

Main News

Despite a significant fall in its profit and operating metrics for the June 2025 quarter, Angel One shares edged up, reflecting investor resilience amid a volatile market environment.

The sharp drop in the company’s net profit and margins was primarily driven by SEBI’s crackdown on excessive retail participation in the futures and options segment, which directly affected its broking revenue.

Company Financials Overview

Revenue

• Q1 FY26 Revenue: ₹1,140 Crore
• YoY Decline: 19% (vs ₹1,405 Crore in Q1 FY25)
• QoQ Growth: 8% (vs ₹1,056 Crore in Q4 FY25)

EBITDA

• Q1 FY26 EBITDA: ₹274.1 Crore
• YoY Decline: 41.7% (vs ₹469.9 Crore)

EBITDA Margins

• Current EBITDA Margin: 24.04%
• Previous Year Same Quarter: 33.44%

Net Profit

• Q1 FY26 Net Profit: ₹114.4 Crore
• YoY Decline: 61% (vs ₹292.7 Crore)
• QoQ Decline: 34.4% (vs ₹175 Crore in Q4 FY25)

Operational Metrics

• Total Orders (Q1 FY26): 34.3 Crore
  • QoQ Growth: 4.8% (vs 32.7 Crore in Q4 FY25)
• F&O Orders: 24.1 Crore (up 4.5%)
• Cash Segment Orders: Stable at 7.5 Crore

Market Share Movement

• Retail Equity Turnover Market Share:
  • Declined by 17 basis points to 19.7%
• F&O Market Share:
  • Dropped by 47 basis points to 21%

Company Details

Angel One Ltd is a key player in the Indian capital markets, especially within the retail broking space. The company operates a tech-enabled platform catering to a large customer base for equity, futures, and options (F&O) trading, as well as financial product distribution.

In recent quarters, Angel One has diversified into newer verticals such as:

• Loan Distribution
• Fixed Deposit Distribution
• Wealth Management
• AMC (Asset Management Company) Services

These initiatives aim to create additional revenue streams beyond broking.

Summary of the Article

The Angel One share price climbed 1.2% on July 17 despite a sharp 61% YoY fall in Q1 net profit due to SEBI's F&O regulatory tightening. Revenue dropped 19%, while EBITDA margins slipped to 24.04% from over 33% last year.

While the operational numbers showed slight sequential growth, the company's market share declined marginally in both the equity and derivatives segments.

Overall, Angel One's financial performance reflects current regulatory challenges, yet the share price remained resilient amid broader market optimism.