Anand Rathi Wealth Ltd.
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ABOUT
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 54.8% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 60.2%
- Solid return on assets for a lender - ROA of 34.0%
- Company has a good return on equity (ROE) track record: 3 Years ROE 45.0%
- Asset quality is healthy - gross NPA of just 0.0%
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Promoter holding has decreased over last 2 years: -6.7pp
- Stock is trading at 26.3x its book value
- Thin net interest margin of 0.0%
- Operating margins have contracted to 41.9% from 45.4%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BSE | 3306.00 | 47.62 | 134846.48 | 0.30 | 872.66 | 62.15 | 1566.02 | 63.40 | 49.47 | 68.04 |
| MFSL | 1474.30 | 463.01 | 50880.27 | 0.00 | 118.29 | 36.83 | 14969.51 | 7840.54 | 4.32 | 1.11 |
| ANANDRATHI | 2204.65 | 78.72 | 36606.29 | 0.29 | 1630.08 | 1635.79 | 3219.85 | 1075.04 | 64.48 | 33.74 |
| PRUDENT | 3317.10 | 56.05 | 13735.01 | 0.11 | 74.76 | 44.38 | 347.63 | 18.34 | 39.05 | 25.62 |
| CENTRUM | 21.87 | 7.78 | 1064.70 | 0.00 | -148.80 | -39.11 | 911.98 | 17.53 | 9.28 | 26.49 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 175 | 183 | 182 | 184 | 238 | 242 | 237 | 222 | 274 | 297 | 290 | 288 | 3,220 | |
| 102 | 105 | 103 | 111 | 139 | 138 | 130 | 131 | 146 | 160 | 158 | 203 | 2,261 | |
| Operating Profit | 73 | 77 | 80 | 73 | 98 | 104 | 107 | 91 | 128 | 137 | 131 | 85 | 959 |
| OPM % | 41.91% | 42.43% | 43.76% | 39.68% | 41.34% | 42.94% | 45.17% | 40.93% | 46.64% | 46.23% | 45.38% | 29.46% | 29.79% |
| 3 | 6 | 5 | 13 | 8 | 7 | 7 | 19 | 10 | 10 | 16 | 68 | 1,103 | |
| Interest | 1 | 2 | 2 | 2 | 1 | 3 | 4 | 4 | 4 | 5 | 4 | 3 | 36 |
| Depreciation | 5 | 5 | 5 | 5 | 6 | 6 | 7 | 7 | 8 | 8 | 9 | 10 | 92 |
| Profit before Tax | 71 | 78 | 78 | 79 | 99 | 102 | 104 | 99 | 126 | 134 | 135 | 140 | 2,062 |
| Tax % | 24.91% | 25.78% | 25.59% | 28.03% | 25.81% | 25.33% | 25.79% | 25.87% | 25.68% | 25.53% | 26.03% | 26.25% | 20.95% |
| Net Profit | 0 | 0 | 0 | 0 | 73 | 76 | 77 | 74 | 94 | 100 | 100 | 103 | 1,630 |
| 12.77 | 13.83 | 13.91 | 6.81 | 8.78 | 9.16 | 9.28 | 8.86 | 5.65 | 12.03 | 12.06 | 12.46 | 9.82 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 41 | 221 | 277 | 332 | 265 | 417 | 549 | 724 | 939 | 1,149 | 4,095 | |
| 42 | 143 | 179 | 225 | 196 | 240 | 310 | 421 | 539 | 667 | 2,782 | |
| Operating Profit | -1 | 79 | 98 | 107 | 70 | 177 | 239 | 304 | 400 | 481 | 1,313 |
| OPM % | -2.25% | 35.53% | 35.39% | 32.16% | 26.23% | 42.47% | 43.50% | 41.94% | 42.62% | 41.91% | 32.06% |
| 2 | 3 | 8 | 5 | 14 | 8 | 10 | 28 | 41 | 104 | 1,197 | |
| Interest | 0 | 9 | 6 | 3 | 3 | 2 | 4 | 6 | 12 | 16 | 48 |
| Depreciation | 1 | 5 | 16 | 21 | 18 | 16 | 17 | 19 | 25 | 34 | 118 |
| Profit before Tax | -1 | 67 | 83 | 87 | 63 | 167 | 228 | 306 | 404 | 536 | 2,472 |
| Tax % | 70.48% | 31.53% | 29.68% | 29.15% | 29.04% | 24.37% | 26.18% | 26.11% | 25.70% | 25.88% | 21.78% |
| Net Profit | -0 | 46 | 58 | 62 | 45 | 127 | 169 | 226 | 301 | 397 | 1,934 |
| EPS | -0.04 | 16.97 | 21.60 | 22.43 | 10.74 | 30.38 | 40.28 | 53.79 | 36.11 | 47.69 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 30.89% | 36.12% | 29.71% | 26.03% | 38.77% | 27.26% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 34%
- 3 Years:
- 28%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 55%
- 3 Years:
- 33%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 86%
- 1 Year:
- 50%
RETURN ON EQUITY
- 10 Years:
- 44%
- 5 Years:
- 44%
- 3 Years:
- 45%
- Last Year:
- 49%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 14 | 14 | 21 | 21 | 21 | 42 | 42 |
| Minority Interest | 0 | -0 | 13 | 12 | 12 | 12 | 12 | 13 | 14 | 14 |
| -0 | 65 | 110 | 172 | 223 | 318 | 442 | 626 | 632 | 917 | |
| 25 | 1 | 24 | 59 | 40 | 33 | 31 | 35 | 63 | 66 | |
| Trade Payables | 4 | 5 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 |
| 12 | 79 | 115 | 206 | 47 | 93 | 117 | 186 | 210 | 290 | |
| Total Liabilities | 55 | 163 | 276 | 464 | 336 | 476 | 624 | 880 | 961 | 1,329 |
| 11 | 19 | 50 | 74 | 55 | 124 | 136 | 152 | 188 | 191 | |
| Capital Work in Progress | 0 | 0 | 0 | 65 | 69 | 0 | 0 | 1 | 0 | 0 |
| 0 | 50 | 75 | 103 | 104 | 104 | 106 | 112 | 244 | 265 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28 | 35 | 43 | |
| Cash & Bank | 3 | 1 | 11 | 28 | 65 | 87 | 65 | 33 | 44 | 241 |
| 41 | 94 | 140 | 193 | 42 | 162 | 317 | 553 | 450 | 589 | |
| Total Assets | 55 | 163 | 276 | 464 | 336 | 476 | 624 | 880 | 961 | 1,329 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1 | 113 | 102 | 160 | 6 | 215 | 133 | 278 | 239 | 281 | |
| Cash from Investing | -27 | -87 | -42 | -152 | 74 | -77 | -42 | -237 | 46 | 64 |
| Cash from Financing | 32 | -8 | -14 | 28 | -19 | -46 | -64 | -72 | -279 | -142 |
| 2 | -2 | 11 | 17 | 37 | 22 | -22 | -32 | 6 | 202 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - Anand Rathi Wealth Limited has informed the Exchange about Intimation of further investment through subscribing right issue of equity shares of its wholly owned subsidiary "Anand Rathi FME (IFSC) Private Limited
2026-07-27 - Anand Rathi Wealth Limited has submitted to the Exchange a copy of Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
2026-07-16 - Anand Rathi Wealth Limited has informed the Exchange about Anand Rathi FME (IFSC) Private Limited, a wholly owned subsidiary of Anand Rathi Wealth Limited has received In-principle approval from the International Financial Services Centres Authority (IFSCA)
2026-07-15 - Anand Rathi Wealth Limited has informed the Exchange about Q1 & FY27 Earnings Call Transcript dated 10th July, 2026
2026-07-10 - Anand Rathi Wealth Limited has informed the Exchange about Schedule of meet of Group of Individual Investors Meetings on 16th July, 2026, 23rd July, 2026 and 30th July, 2026
2026-07-10 - Anand Rathi Wealth Limited has informed the Exchange about Link of Recording of Earnings Conference Call for Q1 & FY27 held on 10th July, 2026.
2026-07-10 - Anand Rathi Wealth Limited has informed the Exchange about Copy of Newspaper Publication of Un-audited Consolidated Financial Results for the First quarter ended 30th June, 2026
2026-07-09 - Revised Outcome of Board meeting held on Thursday, 09th July, 2026Board has approved the following:1. Unaudited financial results (standalone and consolidated) for the first quarter ended June 30, 2026;2. Limited Review Report on the unaudited financial results (standalone and consolidated) of the Company for the first quarter ended 30th June, 2026 issued by Statutory Auditor, M/s kkc & associates llp, Chartered Accountants.Due to typographical error of the paid-up capital disclosed in the Unaudited Consolidated Financial Results for the quarter ended 30.06.2026 (Unaudited) under Serial No. XV shall be read as "8302.06" and the paid-up capital disclosed in the Unaudited Standalone Financial Results for the quarter ended 30.06.2026 (Unaudited) under Serial No. X shall also be read as "8302.06 .All other contents of the aforesaid Unaudited Financial Results (standalone and consolidated) remain unchanged. Revised Unaudited Financial Results (standalone and consolidated) are enclosed herewith.3. The Company proposes to submit an application to SEBI seeking approval to act as the sponsor of a Mutual Fund under the SEBI (Mutual Funds) Regulations, 2026
2026-07-09 - Revised Outcome of Board meeting held on Thursday, 09th July, 2026 board has, approved the following:1. Unaudited financial results (standalone and consolidated) for the first quarter ended June 30, 2026;2. Limited Review Report on the unaudited financial results (standalone and consolidated) of the Company for the first quarter ended 30th June, 2026 issued by Statutory Auditor, M/s kkc & associates llp, Chartered Accountants.Due to typographical error of the paid-up capital disclosed in the Unaudited Consolidated Financial Results for the quarter ended 30.06.2026 (Unaudited) under Serial No. XV shall be read as "8302.06" and the paid-up capital disclosed in the Unaudited Standalone Financial Results for the quarter ended 30.06.2026 (Unaudited) under Serial No. X shall also be read as "8302.06 .All other contents of the aforesaid Unaudited Financial Results (standalone and consolidated) remain unchanged. Revised Unaudited Financial Results (standalone and consolidated) are enclosed herewith.3. The Company proposes to submit an application to SEBI seeking approval to act as the sponsor of a Mutual Fund under the SEBI (Mutual Funds) Regulations, 2026
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Anand Rathi Wealth Ltd.
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