Company Update : Angel One Ltd by Motilal Oswal Financial Services Ltd
Strong performance; MTF book continues to rise MoM
Angel One (ANGELONE) released its key business numbers for Oct’25.
Following are the key takeaways:
* ANGELONE’s gross client acquisition grew 2% MoM to ~0.56m in Oct’25 (- 20% YoY), bringing the total client base to 34.6m.
* The average MTF book grew ~4% MoM to ~INR57.9b, scaling a new high (+41% YoY) in Oct’25.
* The number of orders grew 5% MoM to 133.8m for Oct’25 (down 22% YoY), while the order run-rate rose 15% MoM to 6.7m.
* The overall ADTO increased 23% MoM, driven by 23% MoM growth in F&O ADTO, 4% MoM growth in cash ADTO, and 20% MoM growth in commodity ADTO. The overall premium ADTO increased 19% MoM, with F&O premium ADTO rising 22% MoM.
* Based on the option premium turnover, the overall market share declined 20bp MoM, with the F&O premium market share declining 20bp MoM to 20.4%/21.6%, respectively. The share for the cash segment declined 50bp MoM to 18.5%, while for the commodity segment, it declined 920bp MoM to 55.1%.
* The number of registered unique MF SIPs grew 4% MoM to ~0.81m in Oct’25 (up 11% YoY).
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