Angel One Limited, formerly known as Angel Broking Limited, is an Indian stockbroker firm established in 1996. Founded by Dinesh D Thakkar in the year 1996, the company has evolved from a traditional stock brokerage firm into the largest listed retail stock broking house in India in terms of active clients on NSE.
Since the beginning, our focus has always been "what the customer wants" and then to match the right technology to fulfil their needs. That is how our journey and use of technology started keeping customers at the centre stage. This led us in growing our geographical presence all over the country. Gradually, we changed into a Digital-first company to provide our clients personalised financial journeys via a single app.
The company underwent a significant transformation when Angel Broking rebranded as Angel One in 2021. This digital transformation reflects the company's commitment to providing modern, technology-driven financial services to its expanding client base.
Angel One Limited is a retail full-service broking house. The Company is engaged in the business of stock, currency, and commodity broking, providing margin trading facilities, depository services and distribution of mutual funds to its clients. The Company operates through the Broking and related services segment. Broking and related services segment is engaged in broking, advisory, third-party product distribution, margin trade facility and other fee-based services.
Its offerings include broking and advisory services, margin funding, and distribution of third-party financial products to its clients. It has expanded its third-party financial product offerings to include unsecured loans, motor insurance, and fixed deposits.
The company's digital ecosystem includes Angel One Super App, Angel One Trade, and Smart API. Through these platforms, it offers various investment options, such as stocks, mutual funds, upcoming initial public offering (IPO), futures, options, United States stocks, exchange-traded funds (ETF), currencies, commodities, and more.
Angel One has established itself as a dominant force in the Indian retail broking industry. For June 2025, the client base stood at 32.47 million, up 31.3% YoY from 24.72 million in June 2024, and increased by 1.6% sequentially from May 2025. This substantial growth demonstrates the company's strong market penetration and customer acquisition capabilities.
The company is a member of the Bombay Stock Exchange, National Stock Exchange of India, National Commodity & Derivatives Exchange Limited and Multi Commodity Exchange of India Limited. Additionally, The Company is a member of National Stock Exchange of India Limited (NSE), Bombay Stock Exchange Limited (BSE), National Commodities and Derivatives Exchange Limited (NCDEX), Multi Commodity Exchange of India Limited (MCX), Metropolitan Stock Exchange of India Limited (MSEI) and a depository participant with Central Depository Services (India) Limited (CDSL).
As of July 2025, Angel One has a market cap of ₹25,136 crore (up 17.4% in 1 year). The company's financial performance reflects both its growth trajectory and market challenges. For FY25, the company reported revenue of ₹5,239 crore and profit of ₹1,172 crore.
However, the company faced headwinds in recent quarters. The company's consolidated net profit declined 48.7% to Rs 174.52 crore on a 22.1% fall in total revenue from operations to Rs 1,056.01 crore in Q4 FY25 over Q4 FY24. This decline was primarily attributed to reduced trading volumes and increased operational costs.
The company's operational metrics provide insights into its trading performance across different segments. The company's overall average daily turnover (ADTO) in Q1 FY26 was Rs 35,88,800 crore, showing an 11.7% MoM increase but an 18% YoY decrease. For June 2025, ADTO was Rs 34,99,500 crore, reflecting a 23.5% decline both MoM and YoY.
The futures and options segment remains the largest contributor to the company's trading volumes. In terms of segment performance, the ADTO from the F&O segment in Q1 FY26 was Rs 34,97,600 crore, up 11.4% YoY but down 19% MoM. For June 2025, F&O ADTO stood at Rs 34,02,000 crore, down 2.8% MoM and 24.6% YoY.
One bright spot has been the commodity segment, which showed robust growth. The commodity segment saw significant growth, with Q1 FY26 ADTO at Rs 83,200 crore, up 68.2% MoM and 25.8% YoY. In June 2025, ADTO from commodities reached Rs 89,000 crore, showing a 19.4% MoM increase and a 69.7% YoY rise.
Hemen Bhatia and Vinay Agrawal are the current CEOs of Angel One. Dinesh D Thakkar: Founder & Managing Director of Angel One. The main aspect that led Mr Dinesh Thakkar to start this business house was the lack of ethics and transparency in this industry. So he wanted to build a firm, which would be totally transparent, technology-lead and customer-friendly.
The Company's subsidiaries include Angel Financial Advisors Private Limited, Angel Fincap Private Limited, Angel Securities Limited, Angel DigiTech Services Private Limited, Mimansa Software Systems Private Limited, and others.
Angel Broking began offered shares through an initial public offering in September 2020, and was listed on the Bombay Stock Exchange and the National Stock Exchange on 5 October 2020. The company's shareholding structure shows promoter holding of 35.6%, with promoter holding having decreased over the last 3 years by -8.45%.
Angel One continues to maintain its position as a leading digital-first stock broking platform in India, serving millions of retail investors with comprehensive financial services through its technology-driven approach. While facing near-term challenges in trading volumes, the company's strong client base growth and diversified service offerings position it well for long-term growth in India's expanding capital markets.
