Q2FY22 Quarterly Result Announced for Angel Broking Ltd.
Highlights: Company witnessed strong gross addition in client base by 1.3 mn clients in Q2FY22 as compared to 1.2 mn clients in Q1FY22 Rs 5,382 mn in Q2FY22 vs Rs 4,745 mn in Q1FY22, a growth of 13.4% QoQ basis Income growth was aided by strong client addition Rs 1,839 mn in Q2FY22 vs Rs 1,663 mn in Q1FY22, a growth of 10.6% QoQ basis EBDAT Margin (as % of NetIncome) remained stable at 47.4% Rs 1,343 mn in Q2FY22 vs Rs 1,214 mn in Q1FY22, a growth of 10.6% QoQ basis The Board of Directors have recommended second interim dividend of Rs. 5.70/- per equity share of Rs. 10/- each, i.e. ~35% of consolidated profit aftertax, for the quarter Mr. Dinesh Thakkar, Chairman & MD said, “Angel is amongst the fore-runners and has played a significant role in diversifying India’s equity culture, as we continue to witness strong addition. Our robust digital platforms are well accepted by the Gen Z and millennials. We continue to augment our technology and products by upskilling our artificial intelligence, machine learning and data science capabilities, to provide clients with seamless and best in class experience. During the quarter, we onboarded some of the best talent in technology and product development, as Jyotiswarup Raiturkar, joined us as Chief Technology Officer along with other senior and mid level executives at our product development center in Bengaluru. This will help us to develop planet scale products and solutions, while keeping simplicity, reliability, and efficiency at our core. We submitted our application with SEBI, for an in principal approval to set up our AMC. This will be one of the key levers for us, as we progress towards offering wealth-tech solutions. The effervescence and freshness of our Angel One brand and its endorsement by our target client base has been further riveted with ‘Angel Broking Limited’ being rechristened as ‘Angel One Limited’. The Board of Directors have approved distribution of 35% of Q2 FY2022 consolidated profit as 2nd interim dividend.” Mr. Narayan Gangadhar, Chief Executive Officer said, “For the 2 nd consecutive quarter, we acquired more than 1.2mn clients which demonstrates our robust processes, strong performance marketing, backed by our efficacious technology & product suite. With this, our total client base expanded to 6.5 mn clients. Growing client base, and a corresponding increase in active client base, led to continued improvement in our operating and financial metrics. We have expanded our product and technology talent base. Our focus will be on modernizing systems, leveraging cloud capabilities, enhancing product reliability, security and attaining shorter time to market, while also using advanced artificial intelligence, machine learning and data science techniques to build our next-gen Super-App with personalized journeys. In our pursuit to democratize stock broking and attain leadership position, we are constantly improving our products and adding newer features and services. We are well placed to capitalise on the massive growth opportunity that is unfolding for Fintech players like us.” Result PDF21-10-2021