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Motilal Oswal Report
Angel One Ltd. released its monthly update highlighting the key business numbers for April 2022. The key takeaways are as follows:
Angel's gross client acquisition run rate saw a marginal decline to 0.44 million in April 2022 from 0.48 million in March 2022. However, the addition is better than our estimate of 0.4 million per month for FY23.
Total client base stood at 9.64 million as of April-22 (up 5% month-on-month and 118% YoY).
Average funding book saw strong 10% month-on-month growth to ~Rs 17.2 billion.
The number of orders, at 66.14 million for April-22, declined 10% month-on-month whereas the number of orders per day remained flattish at 3.5 million for the month.
Overall average daily turnover increased 7% month-on-month with futures and options ADTO increasing 7.6% and cash ADTO rising 11%.
Angel gained market share in the F&O and commodity segments month-on-month, whereas lost 10 bps month-on-month in the cash segment.
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