Angel One announces 1:10 stock split, Rs 23 dividend even as Q3 earnings fall 4%

Stockbroker Angel One on Thursday reported a 4% year-on-year decline in consolidated net profit at Rs 269 crore in the third quarter. Besides the quarterly results, the company’s board of directors has also approved an interim dividend of Rs 23 per share and a stock split in the ratio of 1:10.The company has set January 21 as the record date for the interim dividend and it will be paid on or before February 13. The record date for the stock split will be announced in due course.

Revenue from operations in the third quarter rose 6% year-on-year to Rs 1,335 crore, compared to Rs 1,262 crore in the same quarter last year.On a sequential basis, revenues rose 11% from Rs 1,204 crore in the September quarter. The sequential growth reflects improved market participation, higher customer activity and stronger contributions from non-broker segments such as distribution, credit and asset management.

Consolidated EBDAT (earnings before depreciation, amortization and taxes) for the quarter stood at Rs 405 crore, compared to Rs 325 crore in Q2FY26, translating to 24.8% quarter-on-quarter growth. The EBDAT margin increased significantly from 34.5% in the previous quarter to 39.4% in the third quarter of 2026, indicating better operating leverage and cost efficiency.

Brokerage and distribution activities, including investment funds and credit activities, reported even stronger profitability. EBDAT for this segment stood at Rs 434 crore in Q3FY26, up 25% QoQ from Rs 346 crore in Q2FY26. The segment’s EBDAT margin grew to 43%, compared to 37.7% in the September quarter, due to improved mix and scale economies.

In the broker segment, the customer funding book scaled to Rs 5,860 crore as of December 2025, a growth of 10% QoQ, supported by higher demand for leverage from active traders. Angel One’s non-brokerage business continued to scale rapidly during the quarter. The company registered 23 lakh unique SIPs in Q3FY26, underscoring the steady growth in retail participation in mutual funds. Credit disbursements during the quarter stood at Rs 710 crore, registering a sharp increase of 55.7% quarter-on-quarter, driven by strong demand and deeper penetration of credit products.

Asset and asset management scale up

The wealth management industry reported strong growth, with assets under management rising 34% quarter-on-quarter to Rs 8,220 crore as of December 2025. The client base expanded to over 1,600 clients, indicating growing adoption of Angel One’s advisory and wealth offerings.

In asset management, the company launched two new schemes during the quarter, bringing the total number of schemes to nine. Assets under management in the asset management industry stood at Rs 470 crore as of December 2025.