• Operating margin guidance: Broking and distribution operating profit margins reached 44.6% in Q4 FY26, with management expecting normalized margins to sustain at or above the 45% range. New businesses are being built to contribute 8% to 10% of revenue and PAT over the next few years.
• Daily order run rate: Daily order volumes rose to 7.2 million per day in Q4 FY26 and 7.4 million in March, marking a 48% increase from 5 million orders per day recorded in February of the previous year.
• STT hike impact: The increase in Securities Transaction Tax is not anticipated to significantly hurt volumes, as Angel One's retail client base has relatively low exposure to futures compared to options, cash, and mutual funds.
• NBFC product rollout: The company invested ₹150 crore in its NBFC arm to launch loan against securities products, which are scheduled to go live in Q1 FY27.