Hem Securities has given Buy recommendation for Angel One with a target price of Rs. 1945 in its research report issued on May 04, 2022

Hem Securities report on Angel One

Company reported yet another steady quarter, and continued its business performance in Q4FY22, growing PAT by 100 percent/24 percent YoY/QoQ. Highest Gross customer additions were 1.5 million in Q4FY22 and 5.3 million in FY22, with tiers-3/4 cities accounting for more than 94% of the additions.

Outlook

We value the company at 21.7x FY23 EPS to arrive at the target of 1945.

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