Angel One Limited is a company that helps people with investing. They offer services like buying and selling stocks, margin trading, research, and investment education. They also help people invest in other financial products. Angel One wants to become the number one fintech company in India.
Right now, Angel One has 29.5 million clients. Every month, around 900,000 new clients join. They use modern technology like AI, Machine Learning, and Data Science to make investing easier for people. All of these services are available through one app.
The people who work at Angel One are motivated and take responsibility for their work. They focus on giving the best value to investors. The company makes sure its products are tailored to each person’s needs. Angel One has a simple structure, so employees have the chance to grow in their careers. Engineers can rise to the top positions in the company.
Angel One has a fun and flexible work environment. Employees enjoy working together in the office while also having time for themselves. In 2024, Angel One was ranked 25th in the top 100 best companies to work for in India. This was a huge jump from 92nd in 2022 and 52nd in 2023.
The company is hiring engineers, product managers, and data science experts all over India. If you want to work there, you can check their careers section for job openings.
Latest Stock News:
Angel One’s stock fell by more than 1.25% on Wednesday, going down to ₹2,290. This drop made the company’s total market value less than ₹21,000 crore. On Tuesday, the stock had closed at ₹2,319.40. Since December 2024, the stock has fallen nearly 35%. In December, it had reached its highest point of ₹3,502.60 in the last 52 weeks.
The drop in stock price comes just before Angel One is set to announce its Q4 FY25 results on April 16, 2025. Investors are closely watching these results to understand how well the company is doing and what its plans are.
On the same day, other companies will also announce their earnings. IT company Wipro, Reliance Industrial Infrastructure Limited, GTPL Hathway, and Heera Ispat Limited are also releasing their Q4 results. In total, 12 companies are expected to share their earnings on Wednesday. This might cause changes in the stock market as investors react to the results.
Angel One is also expected to announce a final dividend for FY25. A dividend is money paid to shareholders, and it is an important factor for investors. However, the drop in stock price may affect how investors feel about the company’s performance.
Segmental information:
Retail Broking: This is the main part of Angel One’s business. It helps people buy and sell stocks, commodities, and other financial products online. Angel One gives tools and research to help people make better investment choices.
Margin Trading: Angel One lets people borrow money to trade more than what they can afford. This is called margin trading. It helps people have more buying power when they trade.
Research and Advisory: Angel One provides market research and advice. They give recommendations on which stocks to buy or sell and help investors make good decisions.
Investment Education: Angel One teaches people about investing and managing money. They offer resources and programs to help people learn about personal finance and investing.
Depository Services: Angel One helps clients keep their stocks and other investments in electronic form. This makes it easier to manage and track their investments.
Subsidiary Information:
Angel One Limited has several companies under it, called subsidiaries. Here are the details:
Angel Financial Advisors Pvt. Ltd.: This company advises on financial matters to clients.
Angel Fincap Pvt. Ltd.: This company works in financial services and capital markets.
Angel Securities Ltd.: This company provides stock broking services.
Angel DigiTech Services Pvt. Ltd.: Previously known as Angel Wellness Pvt. Ltd., it focuses on digital technology services.
Mimansa Software Systems Pvt. Ltd.: This company creates software to help with Angel One’s operations.
Angel One Asset Management Company Ltd.: This company manages Angel One’s mutual fund, mainly offering index funds and exchange-traded funds (ETFs).
Angel One Wealth: This subsidiary started in May 2024. It helps with distributing financial products and giving investment advice.
Q4 Highlights:
Net profit declined by 48.7% YoY to ₹174.5 crore, from ₹340 crore in Q4 FY24.
Revenue dropped by 22.2% YoY to ₹1,056 crore, compared to ₹1,358 crore last year.
EBITDA fell by 35.3% YoY to ₹342.8 crore, from ₹529.5 crore in Q4 FY24.
Operating margin shrank to 32.5%, down from 39% a year ago.
Declared a final dividend of ₹26 per share for FY25, to be paid within 30 days of the AGM.
Stock price closed at ₹2,352 on April 16, 2025, down 33% from its 52-week high of ₹3,502.60 on December 9, 2024.
Added a record 93 lakh (9.3 million) clients in FY25.
Gross income for FY25 stood at ₹5,200 crore, and PAT for the full year was ₹1,200 crore.
PI Industries Ltd is a big Indian company. It makes farm chemicals and medicine-related chemicals. It started in 1946 and is in Gurugram, Haryana. The company works in India and also sends its products to other countries. It has modern factories in Gujarat and strong research teams. The main business is farm chemicals. This part gives 96% of the total money in FY24. It has two parts. One is CSM exports. Here, PI makes special chemicals for global companies. It does research, tests, and large-scale production. This part grew 19% in FY24. It got many orders, worth $1.5–1.55 billion in Q1 FY25. The other part is for India. It sells insect killers, weed killers, and other farm products. It is the top maker of Profenofos, Ethion, and Phorate in India. This part grew 12% in FY23 but fell 6% in FY24 because of bad weather and El Niño. But natural (bio) products grew 29% in FY24. PI launched 7 new products in FY24. The company also started manufacturing medicine chemicals in 2023. It bought two foreign companies for this. Now, pharma gives 4% of the total money. PI sells in over 30 countries. In FY24, 44% of sales came from North America, 23% from Asia, 18% from India, 12% from Europe, and 3% from other places. It has over 15,000 dealers and 100,000 shops in India. It met 2 million farmers in FY24. It has 5 factories and 15 plants. It plans 2 more plants in FY25. It spends 3% of its money on research. It has labs in 4 cities and filed 170+ patents. It made 13 new products from FY22 to Q1 FY25. In August 2024, it bought a UK company called Plant Health Care Plc for £32.8 million. This company makes natural farm products. In FY25, PI will launch 9 new products in India and 5 under Jivagro for fruits and vegetables. It wants to grow 15% in FY25 and increase profit.
Latest Stock News:
Shares of specialty chemical makers, including PI Industries, have recently recovered after facing heavy selling pressure. On April 11, 2025, the stock market saw a positive move for these companies, including PI Industries, which saw its share price surge by 7.4% to ₹3,538. This was after US President Donald Trump announced a 90-day pause on reciprocal tariffs, giving short-term relief to India. The decision boosted investor confidence and led to a rise in demand for PI Industries and other chemical stocks like Vinati Organics and Clean Science & Technology. PI Industries has a significant exposure to the US market, with 43% of its revenues coming from there. Other companies like Vinati Organics (20%) and Clean Science & Technology (17%) also benefit from this market. The rise in chemical stocks is also supported by Trump’s decision to increase tariffs on China, which now stands at 145%. While this could benefit Indian chemical companies, there are concerns that Chinese manufacturers might start dumping products in India due to these higher tariffs. This could hurt the pricing power and profits of domestic players.
Despite this, the Indian chemical sector remains optimistic about the US market. However, there are fears that rising Chinese imports into India and the global market could impact the pricing for Indian companies, with price corrections expected. Credit rating agency Crisil also warned that these trade uncertainties could disrupt the recovery of profitability in India’s specialty chemicals sector, potentially slowing growth in the coming fiscal years.
Potentials:
PI Industries has big plans for the future. In FY25, they want to launch 9 new products in India. They will focus on the horticulture area and add 5 new products under the Jivagro brand. The company aims to grow its revenue by 15% and also improve profits. To help with this, they are spending ₹800-900 crore to build two new plants. One plant will make special products, and the other will make several different products.
PI Industries is also growing in new areas. In 2024, they bought a company called Plant Health Care Plc for £32.8 million. This company has knowledge in technology that helps in farming. This will help PI Industries grow in the farming business, focusing on sustainable farming. The company is also working on new ideas. They have filed over 170 patents and are working on 55 new projects. Half of these projects are in new areas outside of agrochemicals.
PI Industries is also looking to grow in other countries. They get 43% of their revenue from exports. They want to do more business in the U.S. and Europe. With new products, research, and new purchases, PI Industries plans to grow even more in the future.
Analyst Insights:
Market capitalisation: ₹ 54,732 Cr.
Current Price: ₹ 3,607
52-Week High/Low: ₹ 4,804 / 2,951
Stock P/E: 32.2
Dividend Yield: 0.42%
Return on Capital Employed (ROCE): 24.0%
Return on Equity: 21.1%
PI Industries is a strong company. Over the last 5 years, it has grown its profits by 33% every year. This shows it has been doing well and can keep growing. The company makes good profits. It has a high return on capital employed (ROCE) of 24%. This means it is using its investments wisely. Its return on equity (ROE) is 21.1%, which is also strong. These numbers are better than its competitors like UPL, which has a lower ROE of 14.5%. This shows PI Industries is more efficient in using its resources. PI Industries has very little debt. This makes the company financially strong. Since it does not have much debt, it does not need to pay a lot of interest. This gives it more stability. In the last quarter, PI Industries’ profit dropped by 16.92% compared to the same time last year. Its sales grew only by 0.17%. This shows that there might be some short-term problems, like rising costs or issues in the supply chain. But the company has dealt with challenges before, so it may recover soon. PI Industries’ stock is more expensive compared to others. Its price-to-earnings (P/E) ratio is 32.2, while UPL’s P/E ratio is 17.8. This means the stock is priced higher. But it is still okay because PI Industries is growing faster and making more profits. Overall, PI Industries is a strong company. It has good growth, no debt, and makes strong profits. There are some short-term challenges, but it is still a good long-term investment. However, the current stock price is high, so investors should consider this before buying.
Japanese companies, recognized globally for their advanced expertise in semiconductor technologies, are eager to establish manufacturing units in India, according to a report by Deloitte. This collaboration follows a significant memorandum signed between India and Japan, aimed at fostering joint development of the semiconductor ecosystem. Japan, with its robust semiconductor manufacturing infrastructure and as a global leader in semiconductor-related materials and equipment, is positioning itself as a key partner in India’s semiconductor ambitions.
Key Highlights of the Agreement:
Collaborative Development: The memorandum includes collaboration on semiconductor design, manufacturing, research, and talent development, ensuring a resilient global supply chain.
Japan’s Expertise: Japan’s ecosystem boasts over 100 manufacturing plants and leadership in semiconductor wafers, chemicals, gases, and other critical materials.
India’s Aspiration: India aims to establish 10 semiconductor plants within the next decade, aligning with its vision to become a global hub for electronics manufacturing.
Impact on the Indian Stock Market:
Boost for Technology Stocks: Companies in electronics, manufacturing, and semiconductor-related fields could see increased investor interest and capital inflows.
Opportunities in Ancillary Industries: Firms producing materials such as silicon wafers, chemicals, and chip-making equipment may experience growth.
Policy Incentives: Continued government support for the semiconductor industry, through subsidies and policy measures, is expected to enhance investor confidence in related sectors.
Global Recognition: India’s role in the semiconductor supply chain could attract more foreign direct investment (FDI), benefiting the broader market.
Strategic Implications:
Enhanced resilience in the global semiconductor supply chain, reducing dependence on single markets like China.
Opportunities for Indian talent to integrate into global semiconductor research and development.
Strengthened bilateral ties between India and Japan, promoting further economic cooperation.
The partnership highlights India’s growing prominence in the semiconductor domain, offering significant opportunities for domestic firms and international players to contribute to the country’s technological and economic growth.
Sobha Limited, formerly known as Sobha Developers Limited (SDL), was incorporated on August 7, 1995, and is headquartered in Bengaluru, India. Founded by Mr. PNC Menon, it is a prominent real estate developer engaged in the construction, development, sale, and management of residential and commercial real estate projects. The company also operates in manufacturing activities related to interiors, glazing, metal works, and concrete products, providing backward integration for its turnkey projects, ensuring quality and operational efficiency. Sobha’s equity shares are listed on the National Stock Exchange (NSE) and BSE Limited, increasing its investor accessibility.
The company’s journey began in September 1997 with the launch of its first residential project, Sobha Sapphire in Bangalore, followed by its first plot development, Harisree Garden in Coimbatore. By 1999, Sobha achieved a significant milestone with the completion and handover of Sobha Sapphire, while also commencing its first contractual project for Infosys Technologies Limited in Bangalore. This marked Sobha’s entry into corporate infrastructure development, establishing a reputation for timely delivery and quality standards. Sobha’s commitment to excellence was recognized with an ISO 9001 certification in 1998, later upgraded to the 2000 series in 2004. In 2003, the company established the Sobha Construction Academy and Research and Development Center, underscoring its focus on innovation. By 2005, Sobha launched a fully automated concrete product division, enhancing its manufacturing capabilities. In 2006, the company transitioned from private to public limited status, receiving a PR1 rating from CARE for its financial discipline.
Expanding its footprint across India, Sobha executed projects in Coimbatore, Mysore, Pune, Chennai, and reinforced its presence in Bangalore. In 2008, the company entered into joint ventures and attracted foreign direct investment (FDI), partnering with TUV Rheinland (India) and securing funding from Pan Atlantic, Dubai for projects in Bangalore South. Sobha has consistently demonstrated growth in residential and contractual projects. By FY 2014, the company developed 6.68 million square feet, increasing to 11.10 million square feet in FY 2016, and completing an impressive 7.78 million square feet by FY 2022. Key projects include SOBHA Dream Acres and SOBHA Forest Edge in Bangalore, SOBHA City in Gurgaon, and SOBHA Waterfront in Hyderabad.
The company’s financial prudence is reflected in strategic share buybacks, with major programs in 2016 and 2017 enhancing shareholder value. Additionally, Sobha expanded its operations by acquiring entities like Sobha Contracting Private Limited and Sobha Interiors Private Limited, further streamlining its business model. Sobha Limited remains a pioneer in India’s real estate sector, known for its superior quality, innovation, and commitment to timely project delivery. Its integrated business model, blending real estate development with backward integration, positions it uniquely in the industry. With a legacy of ambitious projects, Sobha continues to shape the urban landscape while delivering value to its customers and stakeholders.
Industry Outlook
The Indian real estate sector stands as the second-largest employment generator after agriculture, encompassing four key sub-sectors: residential, retail, hospitality, and commercial. Among these, the residential segment leads with dominance, projected to expand from US$ 200 billion in 2021 to an impressive US$ 1 trillion by 2030, increasing its contribution to GDP from 6-7% to 13%. This growth is fueled by economic stability, despite challenges such as global uncertainties and interest rate hikes. The market has witnessed substantial momentum, particularly in Tier 1 cities, driven by urbanization and improved affordability. While the Mumbai Metropolitan Region (MMR) maintains a commanding lead in volume and sales growth, cities like Pune, Bangalore, and Hyderabad are emerging as strong markets, especially for luxury housing.
Sobha Limited, a prominent player in this thriving sector, is well-poised to capitalize on these trends. Its ongoing projects, including Sobha Altus, Sobha Aranya (Gurgaon), and Sobha Neopolis (Bangalore), represent significant opportunities, with several towers yet to be released for sale. Current inventories like Sobha Neopolis, Sobha Crystal Meadows, and Sobha Elysia (Gift City) collectively offer over 1 million sq. ft. of space. Looking ahead, Sobha plans to launch new projects over the next 6-8 quarters, holding an effective share of 80.1% in forthcoming inventory. Sobha’s extensive land bank, encompassing 1,878 acres, is a cornerstone of its growth strategy, with areas under consolidation, monetization, and self-use. Notably, 43 acres in Hoskote are earmarked for future projects. The surge in residential demand since 2021 has driven development activities to a 15-year high, enabling Sobha to focus on timely deliveries and high-quality launches. This strategic positioning aligns with the growing appetite for premium and luxury housing, especially in India’s top cities.
The broader Indian real estate sector is poised for substantial growth, and Sobha’s integrated model, encompassing backward integration for construction materials, ensures cost efficiency and quality control. With a strong pipeline of projects, a robust land acquisition strategy, and a reputation for excellence, Sobha Limited is well-placed to thrive in the competitive real estate landscape, delivering value to both its customers and stakeholders.
Business Segments
Sobha Limited operates across three primary business segments, leveraging its unique vertically integrated model for operational efficiency and quality control:
Residential Real Estate: Sobha focuses heavily on residential developments, particularly luxury and premium housing. In FY25, the company achieved notable sales in key regions, including its best-ever performance in Kerala and strong contributions from Bangalore. Sobha has been strategically launching new projects, with 0.48 million square feet of saleable area introduced in Bangalore during Q2 FY25, showcasing its ability to adapt to market demand for luxury homes.
Contractual and Manufacturing Services: Sobha provides construction and interior solutions through this segment, supporting its real estate projects and third-party clients. The company’s in-house capabilities include manufacturing products such as doors, windows, and metal works, ensuring consistent quality and reducing dependency on external vendors.
Commercial Real Estate and Other Ventures: Sobha is also active in commercial real estate, though this contributes less to its revenue compared to the residential segment. It supports businesses seeking office spaces and other facilities.
Key Subsidiaries and Their Information
Sobha Limited, one of India’s leading real estate developers, operates through a network of wholly owned subsidiaries and joint ventures. These entities manage specific aspects of its real estate, construction, and contractual businesses, enabling Sobha to streamline operations and maintain a competitive edge.
Key Subsidiaries and Step-down Subsidiaries
Sobha Developers (Pune) Limited: A wholly owned subsidiary that focuses on developing residential and commercial projects in Pune, a high-growth urban market in India.
Kilai Builders Private Limited: A step-down subsidiary that manages specific real estate projects or land parcels, particularly in regions where Sobha has an established presence.
Sobha Interiors Private Limited: This subsidiary supports Sobha’s construction projects by manufacturing high-quality interior fit-outs, enabling backward integration. It ensures cost control and quality consistency for residential and contractual developments.
Sobha Contracting Private Limited: Handles Sobha’s external construction contracts, including residential, commercial, and industrial projects, contributing to a diversified revenue stream outside the company’s core real estate business.
Sobha City Partnership Firm: Focuses on developing large-scale residential projects like Sobha City, which are aimed at providing luxury living in urban centres. The partnership model allows flexibility in operations.
Sobha Nandambakkam Developers Limited & Sobha Tambaram Developers Limited: These subsidiaries manage projects in Tamil Nadu, specifically targeting the markets of Nandambakkam and Tambaram in Chennai, focusing on residential and mixed-use developments.
Vayaloor Group of Companies (Multiple Entities): Includes Vayaloor Properties, Builders, Developers, Real Estate, and Realtors Private Limited, all step-down subsidiaries that manage various real estate and development activities across specific regions, especially in South India.
Sobha Highrise Ventures Private Limited: Focuses on high-rise residential developments in key urban markets like Bangalore and Hyderabad, catering to the demand for luxury vertical housing.
Sobha Construction Products Private Limited: Engaged in manufacturing construction materials like precast concrete, ensuring cost efficiency and quality in Sobha’s projects.
CVS Tech Park Private Limited (Associate): Sobha holds a 49% stake in this entity, which focuses on IT park development, leveraging the growing demand for commercial spaces in urban hubs.
Kondhwa Projects LLP (Joint Venture): A 50% partnership focused on executing specialized residential or commercial projects in strategic locations.
Significance of Sobha’s Subsidiaries
Subsidiaries like Sobha Interiors and Sobha Construction Products ensure control over supply chains, reducing dependence on third-party vendors.
Entities like Vayaloor and Kilai Builders allow Sobha to penetrate different geographic markets while mitigating risks. Contractual projects and manufacturing units provide income stability and resilience against market fluctuations in the real estate sector. Each subsidiary handles specific projects or aspects of the business, enabling greater operational efficiency and specialization.
Q2 FY25 Highlights
In H1-FY25, Sobha Limited recorded a total revenue of ₹1,635 crore, with a substantial 76.8% of this coming from its Real Estate business (₹1,256 crore). The remaining 19.4% was contributed by its Contractual & Manufacturing operations (₹317 crore). During this period, the company successfully delivered 871 units, covering 15.92 lakh sq. ft. of saleable area. This performance was accompanied by an EBITDA of ₹194 crore, resulting in an EBITDA margin of 11.9%, demonstrating healthy operational efficiency. In terms of profitability, PBT (Profit Before Tax) stood at ₹47.3 crore, while PAT (Profit After Tax) was ₹29.9 crore. Additionally, revenue from contracting activities grew marginally by 0.3% year-on-year to ₹164 crore, further contributing to the financial performance.
In Q2-FY25, Sobha achieved total revenue of ₹965 crore, with 80.9% from the Real Estate segment and 15.8% from Contractual & Manufacturing. The company recorded significant improvements in unit handovers, delivering 579 units (10.56 lakh sq. ft.), a remarkable 57.4% increase compared to the previous quarter. This surge in handovers was a key factor in driving profitability, with EBITDA of ₹108 crore and an EBITDA margin of 11.3%. PBT reached ₹36.2 crore, and PAT surged by 73.3% YoY to ₹26.1 crore, reflecting improved operational efficiencies and higher sales volumes. Revenue from contractual activities was ₹73 crore.
In terms of sales performance, Sobha had a strong showing in H1-FY25, selling 1,026 homes across 21.05 lakh sq. ft., generating ₹3,052 crore in revenue. The average realization per square foot was ₹14,498, a 32.7% increase compared to FY24, largely driven by strategic luxury project launches in Gurgaon and price hikes across ongoing projects. Regionally, Bangalore contributed 40.5% and NCR30.4% of total sales value, while Kerala accounted for 19%, experiencing a 17.4% YoY growth. Notably, Tamil Nadu showed a remarkable recovery, with sales doubling compared to the previous quarter and growing 107.6% YoY. In Q2-FY25, Sobha sold 464 homes (9.29 lakh sq. ft.), generating ₹1,179 crore at an average realization of ₹12,674 per sq. ft. Kerala achieved its best quarterly sales of ₹338 crore, while Hyderabad saw an impressive 98.7% increase in sales value QoQ.
From an operational perspective, Sobha completed 17.9 lakh sq. ft. of construction in H1-FY25, translating into 1,127 homes, a 7.9% YoY increase. In Q2-FY25 alone, the company completed 8.7 lakh sq. ft. (563 homes). These figures contribute to the growing recognized revenue, which stood at ₹14,477 crore as of September 30, 2024, ensuring continued revenue realization from completed sales.
Overall, Sobha Limited’s performance highlights a robust real estate business, which remains the dominant revenue driver, supported by strong sales growth and rising average realizations, particularly in luxury housing. The company’s ability to manage a strong project pipeline and deliver on key markets like Gurgaon, Bangalore, NCR, Kerala, and Tamil Nadu positions it well for sustainable growth in the coming quarters. With a balanced regional performance, Sobha continues to strengthen its position in the Indian real estate market, especially in the high-demand sectors of premium and luxury housing.
Financial Summary
INR in Cr.
Q2FY25
Q1FY5
Q2FY24
Q-o-Q (%)
Y-o-Y (%)
Real Estate Revenue
781.4
475.1
543.6
64.5%
43.7%
Contractual & Manufacturing Revenue
152.2
165.3
197.6
-7.9%
-23.0%
Other Income
31.7
29.5
32.4
7.5%
-2.2%
Total Income
965.3
669.9
773.6
44.1%
24.8%
Total Expenditure
856.5
584.5
665.8
46.5%
28.6%
EBIDTA
108.8
85.4
107.8
27.4%
0.9%
Depreciation
23.2
20.4
19.3
13.7%
20.2%
Finance Expenses
49.4
53.9
63.9
-8.3%
-22.7%
Profit Before Tax
36.2
11.1
24.7
226.1%
46.6%
PBT Margin
3.80%
1.70%
3.20%
123.5%
18.8%
Tax Expenses
10.10
5.00
9.70
102.0%
4.1%
PAT
26.10
6.10
14.90
327.9%
75.2%
PAT Margin
2.70%
0.90%
1.90%
200.0%
42.1%
Net Profit (after OCI)
23.50
6.40
13.10
267.2%
79.4%
PAT after OCI
2.40%
1.00%
1.70%
140.0%
41.2%
SWOT Analysis
Strengths
Strong Brand Equity: Recognized as a trusted name in the real estate industry.
Diversified Portfolio: A well-balanced mix of residential, commercial, and contractual projects.
Integrated Business Model: Seamless operations from development to construction ensure quality and cost control.
Expansive Land Bank: Strategic landholdings provide a competitive edge for future projects.
Focus on Luxury and Premium Housing: Catering to high-value clientele with quality-driven offerings.
Weaknesses
High Debt Levels: Increased financial liabilities can strain cash flow and profitability.
Regional Concentration: Heavy reliance on specific markets limits geographic diversification.
Project Execution Risks: Delays or cost overruns can impact customer trust and financial performance.
Dependency on Real Estate Sector: Vulnerability to industry-specific fluctuations and downturns.
