Intimation for earnings call transcript

Classified as Internal Listing Department Department of Corporate Service National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, G Block, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 051. Mumbai - 400 001. Symbol: ANGELONE Scrip Code: 543235 Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Further to our intimation on June 24,2026, intimating of the earnings call with analysts and investors to be hosted by the Company on July 16, 2026, please find enclosed herewith the transcript of the said earnings call for your reference and records. The transcript of the earnings call will be posted on the Company’s website at www.angelone.in. Thanking You, For Angel One Limited Naheed Patel Company Secretary and Compliance Officer ACS: 22506 Date: July 21, 2026 Place: Mumbai Corporate & Regd Office: Angel One Limited 601, 6th Floor, Ackruti Star, Central Road, MIDC, CIN: L67120MH1996PLC101709, Andheri (E), Mumbai - 400093. SEBI Registration No Stock Broker:INZ000161534, T: (022) 4000 3600 CDSL: IN-DP-384-2018, PMS:INP000001546, F: (022) 4000 3609 Research Analyst: INH000000164, Investment Advisor: INA000008172, E: support@angelone.in AMFI Regn. No. ARN–77404, PFRDA, Regn. No.-19092018. www.angelone.in Classified as Public Classified as Internal Angel One Limited Q1 FY'27 Earnings Conference Call July 16, 2026 MANAGEMENT: Dinesh Thakkar Managing Director Ambarish Kenghe Group Chief Executive Officer Vineet Agrawal Group Chief Financial Officer Amit Majumdar Group Chief Strategy Officer Ajit Narayanan Chief Technology Officer Anand Agrawal Head of Product Chief Business Officer – Direct Chief Business Officer – Arief Mohamad Nishant Jain Business Assisted Business Chief Business Officer - New Saurabh Agarwal Rohit Chatter Chief AI Officer Business Group Chief Information Sridhar Govardhan Manmohan Singh Group Chief Risk Officer Security Officer Group Chief Human Resources Subhash Menon Ajit Sinha General Counsel Officer Group Chief Compliance Chief Product Operations Manoj Agarwal Bhavin Parekh Officer Officer Co-founder & CEO – Ionic Srikanth Subramanian Shobhit Mathur Co-founder – Ionic Wealth Wealth Interim CEO – Asset Murali Dharmendra Jain Co-founder – Ionic Wealth Management – Angel One Ramasubramanian Asset Management Company Hitul Gutka Head of Investor Relations E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 16th July 2026 will prevail. Page 1 of 25 Angel One Limited July 16, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Q1 FY '27 Earnings Conference Call hosted by Angel One Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Hitul Gutka from Angel One Limited. Thank you, and over to you, Mr. Gutka. Hitul Gutka: Good morning, and welcome, everyone. Thank you for joining us today to discuss Angel One's Q1 FY '27 financial and business performance. The recording of today's earnings call and the transcript will be uploaded on our website under the Investor Relations section. The financial results, investor presentation and the press release are also available on the website. For today's call, Angel One is represented by Dinesh Thakkar, Chairman and Managing Director; Ambarish Kenghe, Group CEO; Vineet Agrawal, Group CFO. We also have the senior leadership team of Angel One, along with SGA, our IR consultants. The leadership team will give us a brief overview of the operational and the financial performance of the quarter gone by, which will be followed by a Q&A session. Please note that there may be certain forward-looking statements during the course of the call, which must be viewed in aggregate with the risks that the company faces. With this brief introduction, I now invite Mr. Dinesh Thakkar for his opening remarks. Dinesh Thakkar: Thank you, Hitul. Good morning, everyone, and thank you for joining us. When I look at India today, I see once in a generation opportunity for financial services. We are a nation of more than 1.4 billion people with nearly 1 billion people of working age, over 1 billion Internet connection, world-leading digital infrastructure and rising incomes, yet participation in formal investing remains low related to India's size and potential. Our opportunity lies in enabling the hundreds of millions of customers who will enter financial ecosystem for the first time, helping them progress from access to participation and ultimately pointing them towards long-term wealth creation. This opportunity extends well beyond the categories we operate today. As customers' financial needs evolve, they will increasingly look for integrated financial solution across investing, wealth, credit, protection and retirement. The platform that understands the customer best and fulfils their need responsibly will have a significant long-term advantage. We believe technology-led financial platforms will continue to have a lasting advantage. Page 2 of 25 Angel One Limited July 16, 2026 Every interaction on our platform generates valuable data. Every transaction, query and decision helps us learn, adapt and improve. In our view, the winners over the next decade will not be simply those with largest customer base, but those with deepest understanding of their customer and the ability to convert that understanding into relevant, trusted, timely solution. That is why we remain in a continuous build mode because great fintech business are built by compounding intelligence over time. As our platform matures, that intelligence compounds enabling more relevant customer experiences. This deepens engagement, strengthens trust and expands monetization opportunity across multiple financial products. This leads to higher retention, a greater share of wallet and ultimately stronger customer lifetime value. As we expand into new customer segment, future cohorts do not need to monetize at the same level or at the same pace as earlier ones. What matters is that customers' lifetime value grows through deeper engagement and increased cross-sell adoption, while our technology platform and scale continue to lower the cost to serve. Together, this creates a powerful flywheel, wider reach, deeper engagement, better unit economies and sustained profitable growth. Our progress in this quarter should therefore be viewed in the context of this long-term strategy. We are not simply building a fintech product. We are building a long-term financial ecosystem designed to participate in India's financialization journey for decades to come with technology, data and customer first at its core, and we believe we are still only at the beginning. With that, I will hand it over to Ambarish to take you through our quarter 1 performance and key development during the quarters. Thank you. Ambarish Kenghe: Thank you, DT. Good morning, everyone. As DT highlighted, India is in the early stages of a multi- decade financialization journey. For us, the opportunity is not only about acquiring users. It is about building enduring relationships, deepening engagement and becoming the preferred platform across every stage of their financial life cycle. At Angel One, we continue to execute on this vision by strengthening our platform, expa [Showing first 8,000 characters — download PDF for full document]