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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.