Angel One Shares Surge 2.2% as Client Base Grows 34.1% Year-on-Year Despite Declines in Orders
Angel One Shares Surge on Strong Client Growth Amid Mixed Trading Results
Shares of Angel One Ltd, a leading digital brokerage platform in India, demonstrated a lively uptick on Thursday, surging 2.2% to reach an intraday high of Rs 3,199.20 on the Bombay Stock Exchange (BSE). This positive movement follows the company’s recent monthly business update, revealing significant client base growth and key trading metrics for May 2025. However, it’s a tale of two sides, with fluctuating Average Daily Orders (ADO) and trading activity.
Stellar Client Base Growth
Leading the conversation around Angel One is its impressive growth in client acquisition. The company reported a staggering 34.1% year-on-year increase in its client base, which stood at 3.195 crore in May 2025. This figure highlights a robust demand for the company’s services and reinforces Angel One’s competitive standing in the brokerage sector.
Breaking down the numbers a bit more:
- Current Client Base: 3.195 crore
- Year-on-Year Growth: 34.1%
Despite this healthy growth in client numbers, Angel One encountered challenges in other areas, particularly with ADO.
Declining Average Daily Orders
While client acquisition painted a favorable picture, the same cannot be said for the company’s trading activity. Angel One experienced a notable 23.4% decline in Average Daily Orders for May 2025, with the ADO dropping to 57.9 lakh from 75.6 lakh in the same month last year.
Moreover, the Gross Client Acquisition plummeted 43.1% year-on-year, settling at a mere 5 lakh clients compared to 8.8 lakh in May 2024. These figures indicate that while more clients are using the platform, fewer are actively trading.
Here’s a look at the ADO performance:
| Metric | May 2025 | May 2024 | Year-on-Year Change |
|---|---|---|---|
| Average Daily Orders (ADO) | 57.9 lakh | 75.6 lakh | -23.4% |
| Gross Client Acquisition | 5 lakh | 8.8 lakh | -43.1% |
Mixed Results in Turnover
When analyzing trading activity, Angel One’s Average Daily Turnover (ADTO) also showed a decline across the board. The overall ADTO in May 2025 fell to Rs 35,81,500 crore, marking an 18.2% decline compared to the previous year.
However, the option premium turnover revealed a different narrative, with a commendable 30.5% year-on-year growth to reach Rs 97,500 crore, despite an 8.6% drop from the previous month.
Here’s a breakdown of the ADTO performance for May 2025:
| Category | ADTO (Rs Crore) | Year-on-Year Change |
|---|---|---|
| Overall ADTO | 35,81,500 | -18.2% |
| F&O Segment ADTO | 34,98,300 | -19.0% |
| Cash ADTO | 8,600 | +4.2% |
| Commodity ADTO | 74,500 | +47.2% |
| Option Premium Turnover ADTO | 97,500 | +30.5% |
Despite the declines in ADO and turnover, Angel One maintained a solid presence in the retail market. The company’s Retail Turnover Market Share based on Option Premium Turnover increased to 20%, reflecting a rise of 77 basis points (bps) year-on-year. In the F&O segment, the market share also saw a slight increase, reaching 21.4%.
Conclusion: A Balancing Act Ahead
The recent surge in Angel One’s share price signifies that investors are largely optimistic about its potential amidst turbulent trading metrics. The company has successfully grown its client base, indicating a strong interest in its zero-brokerage services and innovative trading technology. However, the decline in ADO and overall trading activity raises questions about engagement depth among active traders.
Moving forward, Angel One will need to address the challenges in trading activity and find ways to convert its growing client base into active traders while maintaining or enhancing its share in the market. As the landscape continuously evolves, it will be interesting to see how Angel One navigates these challenges and whether the optimism around its future prospects holds strong.
Stay tuned as we continue to monitor the developments with Angel One!
