Angel One · tone and specificity signals across the available quarters.
Language signals
Revenue profile continues to become increasingly diversified. While our core trading platform remains our largest acquisition engine, contributing close to 60% of our gross revenues, the remaining 40% now comes from complimentary businesses such as client funding, distribution, depository, wealth and other asset management businesses.
We have a very large engaged customer base, strong proprietary data and significant headroom to deepen credit penetration. Our focus is actually on building a scalable high-quality business with strong unit economics and scalable lender partnerships rather than optimizing for every single quarter's dispersals.
Ask Angel has evolved into a conversational assistant powering discovery, engagement, and support journeys, serving over 1.1 million users, and addressing queries in finance and support.
Our vision remains clear to touch a billion lives and serve their financial needs in one integrated digital ecosystem.
We are not just building products. We are creating habits of making investing simple, accessible and rewarding for every Indian.
We are methodically building out every aspect of customers' financial needs — wealth, credit and protection — each with a long-term view.
Our standalone operating margin is already at a healthy 43% reflecting the strength of our core business model.
We are building Angel One as a full-stack omni-channel AI-native financial services platform compounding through technology, trust, and disciplined execution.
The embedded opportunity within our ecosystem alone is quite substantial, even before considering secured categories.
We are moving decisively from isolated AI use cases to platform level AI integration rearchitecting both client experiences and internal workflows.
Our reported EBDAT margin expanded by 227 basis points sequentially to 41.7%. Importantly, adjusting for one-time items and IPL related spends, normalized EBD margin improved by 498 basis points sequentially to 44.4%.
I think people are overestimating what AI can do in the short term and underestimating what will happen in the long term and we continue to be focused on the long term.