Shares of Angel One rose over 4% in early trade on April 8 after the company reported steady growth in key operating metrics for March and the March quarter (Q4 FY26), reflecting sustained retail participation despite mixed monthly trends.
March performance: Orders rise, activity mixed
Angel One reported a 7.4% month-on-month (MoM) increase in average daily orders (ADO) to 7.37 million in March 2026, indicating improved trading intensity. On a year-on-year (YoY) basis, ADO surged 37.1%, highlighting strong user engagement compared to last year.
The total number of orders stood at 139.98 million, down 2.8% MoM but up 37.1% YoY. The decline on a monthly basis came alongside fewer trading days in March (19 days versus 21 in February).
Client base continued to expand, reaching 37.39 million, up 1.3% MoM and 20.5% YoY. However, gross client acquisition declined 10.7% MoM to 0.51 million, though still higher by 7.5% YoY.
Funding and turnover trends
The average client funding book dropped 7.2% MoM to ₹55.05 billion but grew 43.0% YoY, suggesting stronger capital deployment compared to last year despite a short-term dip.
Turnover metrics showed a mixed trend. Based on notional turnover, overall ADTO declined 10.4% MoM but rose 37.3% YoY. In contrast, option premium turnover jumped 18.6% MoM and 145.1% YoY, indicating continued strength in derivatives activity.
Commodity ADTO stood out, rising 20.8% MoM and 175.5% YoY, while cash ADTO declined 10.8% MoM with modest 6.2% YoY growth.
Q4 FY26: Sequential and annual growth
For Q4 FY26, Angel One reported a 15.2% quarter-on-quarter (QoQ) increase in average daily orders to 7.18 million, while total orders rose 13.3% QoQ and 31.6% YoY.
Client base expanded 4.7% QoQ and 20.5% YoY, reinforcing continued onboarding momentum. Gross client acquisition rose 4.4% QoQ and 12.7% YoY to 1.82 million.
Average client funding remained largely flat sequentially but grew 45.0% YoY, reflecting higher investor participation levels compared to the previous year.
Market share trends
Retail market share in options (premium turnover) remained broadly stable. Overall equity share stood at 20.4% in Q4, while F&O share improved to 22.2%.
Cash market share declined sequentially to 17.2%, while commodity market share improved to 54.1% in Q4.
FY26 snapshot
For the full financial year FY26, the company’s client base grew 20.5% YoY to 37.39 million. Average client funding book increased 45.3% YoY, and option premium turnover nearly doubled with 86.7% growth.
However, average daily orders declined 10.6% YoY to 6.16 million, and total orders fell 10.9%, indicating moderation in trading activity over the full year.