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Last Updated on: 24 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 543235 | NSE: ANGELONE

Angel One Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 11:37 pm

Market Cap 24,309 Cr.
Current Price 2,695
High / Low3,900/2,025
Stock P/E18.5
Book Value 585
Dividend Yield1.29 %
ROCE38.7 %
ROE43.3 %
Face Value 10.0
PEG Ratio0.30

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Angel One Ltd

Competitors of Angel One Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Nam Securities Ltd 85.7 Cr. 159198/59.3238 21.20.00 %4.16 %3.05 % 10.0
Naperol Investments Ltd 828 Cr. 1,4412,041/801845 3,2040.00 %0.08 %0.05 % 10.0
Inani Securities Ltd 14.1 Cr. 31.042.0/20.59.75 42.20.00 %10.6 %6.92 % 10.0
HCKK Ventures Ltd 43.5 Cr. 117154/77.4241 11.50.00 %8.17 %6.44 % 10.0
HB Portfolio Ltd 108 Cr. 101177/54.314.6 2790.99 %3.34 %2.90 % 10.0
Industry Average7,266.37 Cr2,238.6976.495,594.830.28%15.23%17.14%7.45

All Competitor Stocks of Angel One Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales3074094635275976816827457498268081,0481,059
Expenses201262292334361384416429424441487604661
Operating Profit106147171193236296266316324385320443398
OPM %35%36%37%37%40%44%39%42%43%47%40%42%38%
Other Income9101298320115412
Interest6111618182020242620182636
Depreciation544555678991113
Profit before tax104142162179221274243286302362297407351
Tax %30%28%25%25%25%25%25%25%24%26%26%25%26%
Net Profit73102121134165205182214228267221304260
EPS in Rs8.9412.4514.7316.2419.8824.7021.8525.6327.3531.9926.3436.3031.01

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4504514407707787481,2892,2923,0023,740
Expenses3393624375165755648261,3661,7082,194
Operating Profit1129032542031834629261,2941,547
OPM %25%20%1%33%26%24%36%40%43%41%
Other Income111111214112851812
Interest383654957050427691100
Depreciation10131415202118193042
Profit before tax7452481591241144108361,1921,416
Tax %37%39%35%32%36%28%28%25%25%
Net Profit47323110880822976258901,052
EPS in Rs32.6922.0821.5914.9911.0911.4436.2875.41106.68125.64
Dividend Payout %13%25%31%91%24%24%35%36%37%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-31.91%-3.12%248.39%-25.93%2.50%262.20%110.44%42.40%
Change in YoY Net Profit Growth (%)0.00%28.79%251.51%-274.31%28.43%259.70%-151.76%-68.04%

Angel One Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2015-2016 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:%
5 Years:41%
3 Years:49%
TTM:56%
Compounded Profit Growth
10 Years:%
5 Years:70%
3 Years:55%
TTM:29%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:31%
1 Year:-11%
Return on Equity
10 Years:%
5 Years:42%
3 Years:45%
Last Year:43%

Last Updated: Unknown

Balance Sheet

Last Updated: October 15, 2024, 4:11 pm

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital1414147272728283838490
Reserves3323553754034595191,0491,5022,0782,9555,188
Borrowings3333587721,1258724911,1711,2587882,5413,135
Other Liabilities2954116417678051,1082,5114,3784,5287,6749,993
Total Liabilities9741,1391,8032,3672,2092,1904,8147,2207,47813,25418,406
Fixed Assets121122123116134124115152187409459
CWIP1310120126210
Investments0050615356191090355
Other Assets8521,0141,6302,2462,0592,0294,6937,0377,12012,84417,593
Total Assets9741,1391,8032,3672,2092,1904,8147,2207,47813,25418,406

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +11-77-210-309689643-1,199558804-330
Cash from Investing Activity +-7-13-5047-6-2825-52-185-91
Cash from Financing Activity +240350239-361-449894-165-9081,331
Net Cash Flow5-5191-23323166-280340-289910

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-221.00-268.00-769.00253.00-669.00-308.00461.00925.00-787.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days218361712751011964904542
Inventory Days
Days Payable
Cash Conversion Cycle218361712751011964904542
Working Capital Days122119289244127-380-235-569-474-525
ROCE %12%11%18%13%14%27%35%44%39%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters43.77%43.68%44.00%43.83%43.71%43.68%38.48%38.30%38.26%38.23%38.21%35.63%
FIIs4.66%5.44%8.96%10.54%11.27%17.25%16.61%17.04%16.82%19.11%17.27%15.36%
DIIs8.17%8.57%10.33%8.92%9.71%9.27%9.73%10.25%10.41%9.32%9.49%14.03%
Public43.40%42.31%36.72%36.70%35.32%29.80%35.17%34.42%34.52%33.33%35.02%34.99%
No. of Shareholders84,7641,11,7551,01,0281,28,7871,21,0001,25,0671,42,3201,29,2111,31,8761,55,1942,00,3552,70,528

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Growth Fund1,384,0411.87454.71341,2112024-11-23305.63%
Nippon India Value Fund658,2233.09216.25341,2112024-11-2392.91%
Nippon India Small Cap Fund494,8650.35162.58341,2112024-11-2345.03%
Tata Equity P/E Fund - Regular Plan394,9801.81129.76341,2112024-11-2315.76%
Tata Equity P/E Fund - Regular Plan - Trigger Option A 5%394,9801.81129.76341,2112024-11-2315.76%
Canara Robeco Small Cap Fund341,2111.17112.1341,2112024-11-230%
Nippon India Focused Equity Fund337,5661.43110.9341,2112024-11-23-1.07%
Nippon India Banking & Financial Services Fund239,2361.5278.6341,2112024-11-23-29.89%
Motilal Oswal Large and Midcap Fund232,0522.3176.24341,2112024-11-23-31.99%
Motilal Oswal ELSS Tax Saver Fund226,3182.4674.35341,2112024-11-23-33.67%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)134.21106.9175.7238.6011.44
Diluted EPS (Rs.)134.21106.9174.4438.3211.44
Cash EPS (Rs.)139.92110.3177.6638.5214.34
Book Value[Excl.RevalReserv]/Share (Rs.)361.58259.12191.21138.2282.15
Book Value[Incl.RevalReserv]/Share (Rs.)361.58259.12191.21138.2282.15
Revenue From Operations / Share (Rs.)508.49359.82272.58154.43100.65
PBDIT / Share (Rs.)202.31157.23111.9457.2526.19
PBIT / Share (Rs.)196.37153.60109.6955.0123.28
PBT / Share (Rs.)180.19142.87100.9850.2516.50
Net Profit / Share (Rs.)133.98106.6875.4136.2811.44
NP After MI And SOA / Share (Rs.)133.98106.6875.4136.2811.44
PBDIT Margin (%)39.7843.6941.0637.0726.01
PBIT Margin (%)38.6142.6840.2335.6123.13
PBT Margin (%)35.4339.7037.0432.5316.39
Net Profit Margin (%)26.3429.6427.6623.4911.36
NP After MI And SOA Margin (%)26.3429.6427.6623.4911.36
Return on Networth / Equity (%)37.0541.1739.4326.2413.92
Return on Capital Employeed (%)52.9556.7255.3537.9426.63
Return On Assets (%)8.4911.908.656.163.75
Long Term Debt / Equity (X)0.000.010.000.000.00
Total Debt / Equity (X)0.830.360.791.040.83
Asset Turnover Ratio (%)0.410.400.370.350.32
Current Ratio (X)1.251.371.261.291.31
Quick Ratio (X)1.251.371.261.291.31
Dividend Payout Ratio (NP) (%)28.8042.2033.4314.3623.60
Dividend Payout Ratio (CP) (%)27.5840.8132.4613.5318.82
Earning Retention Ratio (%)71.2057.8066.5785.6476.40
Cash Earning Retention Ratio (%)72.4259.1967.5486.4781.18
Interest Coverage Ratio (X)12.5014.6512.8612.033.86
Interest Coverage Ratio (Post Tax) (X)9.2810.949.668.662.78
Enterprise Value (Cr.)18262.245000.359108.671676.010.00
EV / Net Operating Revenue (X)4.281.674.031.330.00
EV / EBITDA (X)10.743.819.823.580.00
MarketCap / Net Operating Revenue (X)5.993.235.631.880.00
Retention Ratios (%)71.1957.7966.5685.6376.39
Price / BV (X)8.424.498.032.110.00
Price / Net Operating Revenue (X)5.993.235.631.880.00
EarningsYield0.040.090.040.120.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Angel One Ltd as of November 24, 2024 is: 4,746.59

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, Angel One Ltd is Undervalued by 76.13% compared to the current share price 2,695.00

Intrinsic Value of Angel One Ltd as of November 24, 2024 is: 7,665.18

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, Angel One Ltd is Undervalued by 184.42% compared to the current share price 2,695.00

Last 5 Year EPS CAGR: 61.49%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 21.30%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -128.20, which is a positive sign.
  3. The company has higher reserves (1,383.18 cr) compared to borrowings (1,167.64 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (364.60 cr) and profit (181.90 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 172.70, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Angel One Ltd:
    1. Net Profit Margin: 26.34%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 52.95% (Industry Average ROCE: 15.23%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 37.05% (Industry Average ROE: 17.14%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 9.28
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.25
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 18.5 (Industry average Stock P/E: 76.49)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.83
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Angel One Ltd. is a Public Limited Listed company incorporated on 08/08/1996 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L67120MH1996PLC101709 and registration number is 101709. Currently company belongs to the Industry of Finance & Investments. Company’s Total Operating Revenue is Rs. 2237.67 Cr. and Equity Capital is Rs. 82.86 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance & Investments601, 6th Floor, Ackruti Star, Central Road, Mumbai Maharashtra 400093support@angelone.in
https://www.angelone.in
Management
NamePosition Held
Mr. Dinesh D ThakkarChairman & Managing Director
Mr. Ketan ShahWhole Time Director
Mr. Amit MajumdarWhole Time Director
Mr. Krishna IyerNon Executive Director
Mr. Kalyan PrasathIndependent Director
Mr. Krishnaswamy Arabadi SridharIndependent Director
Mr. Muralidharan RamachandranIndependent Director
Ms. Mala TodarwalIndependent Director
Mr. Arunkumar Nerur ThiagarajanIndependent Director

FAQ

What is the latest intrinsic value of Angel One Ltd?

The latest intrinsic value of Angel One Ltd as on 23 November 2024 is ₹4746.59, which is 76.13% higher than the current market price of ₹2,695.00.

What is the Market Cap of Angel One Ltd?

The Market Cap of Angel One Ltd is 24,309 Cr..

What is the current Stock Price of Angel One Ltd as on 23 November 2024?

The current stock price of Angel One Ltd as on 23 November 2024 is 2,695.

What is the High / Low of Angel One Ltd stocks in FY 2024?

In FY 2024, the High / Low of Angel One Ltd stocks is 3,900/2,025.

What is the Stock P/E of Angel One Ltd?

The Stock P/E of Angel One Ltd is 18.5.

What is the Book Value of Angel One Ltd?

The Book Value of Angel One Ltd is 585.

What is the Dividend Yield of Angel One Ltd?

The Dividend Yield of Angel One Ltd is 1.29 %.

What is the ROCE of Angel One Ltd?

The ROCE of Angel One Ltd is 38.7 %.

What is the ROE of Angel One Ltd?

The ROE of Angel One Ltd is 43.3 %.

What is the Face Value of Angel One Ltd?

The Face Value of Angel One Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Angel One Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE