Angel Broking - Digital Transformation To Continue Rerating: ICICI Securities Initiates Coverage

A telephone handset sits on a desk on the trading floor at Panmure Gordon and Co., in London, U.K. (Photographer: Jason Alden/Bloomberg).

Angel Broking - Digital Transformation To Continue Rerating: ICICI Securities Initiates Coverage

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Angel Broking Ltd. has successfully transformed into a digital broking platform operating in a flat-fee business model resulting in strong growth in revenues (up 98% in FY21) and active clients (up 171% in FY21) with cost efficiency (Ebitda margin of 48% in FY21 versus 29% in FY20).

The successful transformation of the business model underlines execution capability of the franchise in retail broking space.

Appointment of Narayan Gangadhar as its new Chief Executive Officer (strong tech experience with Google, Amazon, Uber and Ola) holds promise as the company seeks to further build digital capabilities.

Click on the attachment to read the full report:

ICICI Securities Angel Broking Initiating Coverage.pdf

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