Angel One Q4 FY26 Results: PAT ₹320 Crore (+19% QoQ), Revenue ₹1,467 Crore, FY26 Annual PAT ₹915 Crore — Borrowing Limit Hiked to ₹20,000 Crore

Angel One Limited — India’s largest listed retail stockbroker — declared its Q4 FY26 results on April 16, 2026. Consolidated gross revenues for Q4 FY26 reached ₹1,467.2 crore — up 9.7% quarter-on-quarter from Q3’s ₹1,337.2 crore. PAT for the quarter was ₹320.24 crore, up approximately 19.1% sequentially from ₹269 crore in Q3 FY26. For the full financial year FY26, Angel One delivered revenue of ₹5,136.6 crore and PAT of ₹915.10 crore (₹9,150.99 million), with basic EPS of ₹10.09 per share.

The board approved several significant capital allocation decisions: raising the company’s borrowing limit to ₹20,000 crore (subject to shareholder approval at the AGM on June 12, 2026), investing ₹150 crore each into wholly-owned subsidiaries Angel Fincap Private Limited and Angel One Wealth Limited, and raising ₹50 crore through a private placement of non-convertible debentures during Q4. These moves collectively signal an aggressive scaling of the lending and wealth management verticals.

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Angel One Q4 FY26 Financial Results

Source: Angel One BSE/NSE outcome filing April 16, 2026; Screener.in, InvestYWise, EquityBulls.

Sequential Recovery: The Key Narrative

The quarter-on-quarter recovery is the most important read from Angel One’s Q4 FY26 results. Q3 FY26 had seen margin compression and a 4% YoY PAT dip to ₹269 crore despite revenue growth — a concerning combination that weighed on the stock. Q4 FY26’s 19.1% QoQ PAT improvement to ₹320 crore and 9.7% revenue recovery to ₹1,467 crore reverse that trend decisively. The sequential momentum is driven by higher equity market activity volumes in January–March 2026, recovery in derivatives trading revenue, and the broadening client base across Tier 2 and Tier 3 cities.

The 37.39 million active client base — with FY26 total orders reaching 1,514.28 million — underscores the scale of Angel One’s distribution franchise. The 1:10 stock split executed earlier in FY26 has broadened retail participation in the stock itself. KPMG has been appointed as internal auditor for FY27, reinforcing the governance framework as the company scales.

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The ₹20,000 Crore Borrowing Limit: What It Signals

The most strategic announcement is the proposed increase in borrowing limits from the current level to ₹20,000 crore. This is not a current borrowing — it is a ceiling that requires shareholder approval — but it signals Angel One’s intent to dramatically scale its NBFC lending operations through Angel Fincap. The ₹150 crore equity investment into Angel Fincap and ₹150 crore into Angel One Wealth simultaneously expands both the lending (credit against securities, margin funding, personal loans) and wealth management (PMS, AIF, advisory) verticals. These are the two highest-growth adjacencies to core broking.

Conclusion

Angel One’s Q4 FY26 results mark a clean sequential recovery from a disappointing Q3. With PAT up 19% QoQ, revenue up 9.7% QoQ, and the full-year FY26 PAT at ₹915 crore, the company demonstrates resilience. The aggressive capital allocation — ₹20,000 crore borrowing limit, ₹300 crore subsidiary investment, NCD issuance — signals a transition from a pure-play broker to an integrated financial services platform. The Q1 FY27 earnings call on April 17 will be critical for understanding whether this expansion is proceeding on schedule and whether management can hold PAT margins above 20% as the cost base scales.

For more Q4 FY26 results coverage, visit Univest Blogs.

Frequently Asked Questions

1. What was Angel One’s Q4 FY26 PAT?

Angel One reported Q4 FY26 PAT of ₹320.24 crore — up approximately 19.1% quarter-on-quarter from ₹269 crore in Q3 FY26. For the full year FY26, PAT was ₹915.10 crore (₹9,150.99 million).

2. What was Angel One’s Q4 FY26 revenue?

Angel One’s consolidated gross revenues for Q4 FY26 were ₹1,467.2 crore — up 9.7% quarter-on-quarter from ₹1,337.2 crore in Q3 FY26. Full-year FY26 revenue was ₹5,136.6 crore.

3. What is the Angel One borrowing limit increase?

Angel One’s board approved increasing the company’s overall borrowing limits to ₹20,000 crore, subject to shareholder approval at the AGM on June 12, 2026. This expansion is to support growth in the NBFC lending business through Angel Fincap Private Limited.

4. What is Angel One’s client base?

Angel One had 37.39 million active clients as of March 2026, with FY26 total orders reaching 1,514.28 million. The company operates across 25+ cities and has been expanding in Tier 2 and Tier 3 markets.

5. What investments did Angel One approve for subsidiaries?

Angel One’s board approved ₹150 crore each into Angel Fincap Private Limited (NBFC lending) and Angel One Wealth Limited (wealth management / PMS / advisory). These investments are through equity shares or compulsorily convertible preference shares.

6. What is Angel One’s FY26 EPS?

Angel One’s basic EPS for FY26 was ₹10.09 per share. Note that this is post the 1:10 stock split executed in early FY26, which increased the share count tenfold. Pre-split equivalent EPS would be approximately ₹100.9 per share.

7. When do TCS announce Q4 results?

TCS declared Q4 FY26 results on April 9, 2026.

8. Is Angel One a good buy after Q4 FY26 results?

Angel One’s Q4 sequential recovery, 37 million+ client base, and expansion into lending and wealth management are positive long-term signals. Near-term concerns include margin pressure as the cost base scales and regulatory headwinds in the broking industry. Consult a SEBI-registered financial advisor before investing.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. All financial data is sourced from publicly available NSE/BSE filings and company investor relations pages. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.

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