Anand Rathi Share & Stock Brokers 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 93.3% CAGR over last 5 years
- Asset quality is healthy - gross NPA of just 0.0%
- Solid return on assets for a lender - ROA of 2.5%
- Company has a healthy return on capital (ROCE) of 20.8%
- Company has a good return on equity (ROE) track record: 3 Years ROE 20.3%
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Promoter holding has decreased over last 2 years: -30.4pp
- Equity base is being diluted - shares outstanding up 55.6%
- Thin net interest margin of 0.0%
- Growth is decelerating - 3Y profit CAGR (50.7%) trails the 5Y trend (93.3%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MCX | 3275.00 | 54.16 | 83509.83 | 0.24 | 413.44 | 103.47 | 702.00 | 88.10 | 48.10 | 70.40 |
| MOTILALOFS | 1027.05 | 31.24 | 61861.61 | 0.58 | 1273.71 | 9.53 | 3425.76 | 25.49 | 12.68 | 57.49 |
| 360ONE | 1092.20 | 35.27 | 44514.20 | 1.10 | 330.53 | 16.11 | 1226.09 | 26.85 | 12.28 | 63.01 |
| NUVAMA | 1735.60 | 29.56 | 32012.99 | 1.60 | 305.64 | 15.83 | 1376.22 | 22.59 | 17.52 | 52.80 |
| ANGELONE | 305.00 | 27.01 | 27878.11 | 1.33 | 2313.98 | 1921.51 | 14296.91 | 1153.53 | 14.87 | 33.92 |
| CHOICEIN | 758.85 | 71.12 | 16905.39 | 0.00 | 60.61 | 26.37 | 309.79 | 32.46 | 19.43 | 33.83 |
| IIFLCAPS | 338.65 | 18.72 | 10673.53 | 0.89 | 184.16 | 4.92 | 631.48 | 3.13 | 23.27 | 35.76 |
| SHAREINDIA | 199.05 | 11.98 | 4355.72 | 0.80 | 124.41 | 47.45 | 448.09 | 31.25 | 21.00 | 44.76 |
| ARSSBL | 489.00 | 23.76 | 3083.95 | 1.02 | 23.35 | 2.35 | 246.10 | 22.37 | 19.72 | 39.54 |
| MONARCH | 373.25 | 16.34 | 2960.18 | 0.27 | 45.18 | -0.15 | 90.89 | -7.25 | 33.26 | 66.00 |
| GEOJITFSL | 78.34 | 30.15 | 2186.64 | 1.91 | 19.83 | -30.83 | 160.40 | 7.46 | 9.35 | 20.55 |
| ALGOQUANT | 64.67 | 40.01 | 1817.85 | 0.00 | 164.80 | 3610.04 | 778.70 | 1328.81 | 33.57 | 33.64 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 211 | 231 | 204 | 200 | 201 | 227 | 248 | 256 | 246 | |
| 135 | 145 | 127 | 127 | 126 | 135 | 147 | 145 | 194 | |
| Operating Profit | 76 | 86 | 77 | 73 | 75 | 93 | 101 | 110 | 52 |
| OPM % | 35.95% | 37.12% | 37.64% | 36.50% | 37.16% | 40.77% | 40.75% | 43.16% | 21.10% |
| 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 21 | |
| Interest | 30 | 35 | 43 | 39 | 38 | 50 | 46 | 50 | 40 |
| Depreciation | 6 | 6 | 6 | 8 | 6 | 7 | 6 | 7 | 5 |
| Profit before Tax | 41 | 45 | 29 | 26 | 30 | 38 | 50 | 54 | 31 |
| Tax % | 25.44% | 26.60% | 24.89% | 28.14% | 25.18% | 25.66% | 25.62% | 22.74% | 25.58% |
| Net Profit | 0 | 0 | 0 | 0 | 23 | 28 | 37 | 42 | 23 |
| 6.90 | 7.45 | 4.86 | 4.15 | 5.14 | 6.27 | 7.54 | 7.75 | 3.71 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 102 | 138 | 147 | 423 | 468 | 682 | 846 | 932 | 977 | |
| 107 | 127 | 134 | 310 | 353 | 451 | 534 | 553 | 621 | |
| Operating Profit | -5 | 11 | 13 | 114 | 115 | 231 | 311 | 380 | 356 |
| OPM % | -4.55% | 7.84% | 8.73% | 26.83% | 24.60% | 33.82% | 36.81% | 40.72% | 36.44% |
| 5 | 8 | 12 | 0 | 1 | 1 | 1 | 2 | 24 | |
| Interest | 8 | 13 | 9 | 37 | 49 | 97 | 147 | 184 | 186 |
| Depreciation | 10 | 10 | 8 | 13 | 15 | 20 | 25 | 26 | 25 |
| Profit before Tax | -18 | -4 | 7 | 64 | 51 | 115 | 140 | 172 | 172 |
| Tax % | 32.02% | 55.91% | 33.71% | 20.11% | 25.98% | 33.02% | 26.20% | 24.65% | 24.72% |
| Net Profit | -13 | -2 | 5 | 51 | 38 | 77 | 104 | 129 | 130 |
| EPS | 0.00 | 0.00 | 0.00 | 15.05 | 9.36 | 17.42 | 23.36 | 20.61 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 24.26% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 45%
- 3 Years:
- 26%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 93%
- 3 Years:
- 51%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 22%
- 3 Years:
- 20%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 13 | 20 | 22 | 22 | 31 |
| 63 | 58 | 63 | 214 | 245 | 370 | 473 | 1,306 | |
| 109 | 174 | 164 | 300 | 441 | 928 | 927 | 853 | |
| Trade Payables | 268 | 309 | 548 | 774 | 879 | 1,200 | 1,825 | 4,783 |
| 6 | -1 | 3 | 32 | 36 | 65 | 118 | 126 | |
| Total Liabilities | 456 | 549 | 788 | 1,333 | 1,621 | 2,585 | 3,365 | 7,099 |
| 44 | 37 | 51 | 51 | 49 | 67 | 84 | 78 | |
| Capital Work in Progress | 7 | 11 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 7 | 9 | 3 | 6 | 33 | |
| 0 | 0 | 0 | 0 | 0 | 247 | 237 | 314 | |
| Cash & Bank | 159 | 230 | 333 | 770 | 916 | 1,568 | 2,233 | 3,525 |
| 246 | 270 | 403 | 505 | 647 | 701 | 805 | 3,151 | |
| Total Assets | 456 | 549 | 788 | 1,333 | 1,621 | 2,585 | 3,365 | 7,099 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 31 | 74 | 108 | -3 | 32 | 187 | 692 | 725 | |
| Cash from Investing | 28 | -4 | -2 | -79 | -137 | -599 | -577 | -1,146 |
| Cash from Financing | 100 | 150 | -1 | 112 | 108 | 419 | -112 | 462 |
| 156 | 217 | 103 | 16 | -13 | 6 | 2 | 41 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Anand Rathi Share and Stock Brokers Limited has informed the Exchange regarding allotment of 100 securities pursuant to Non Convertible Securities at its meeting held on September 10, 2026
2026-09-05 - Anand Rathi Share and Stock Brokers Limited has submitted the Exchange a copy Scrutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
2026-08-27 - Anand Rathi Share and Stock Brokers Limited has informed the Exchange regarding allotment of 1140 securities pursuant to Non Convertible Securities at its meeting held on August 27, 2026
2026-08-10 - The Exchange had sought clarification from Anand Rathi Share and Stock Brokers Limited for the quarter ended 30-Jun-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-08-06 - Anand Rathi Share and Stock Brokers Limited has informed the Exchange about Copy of Newspaper Publication regarding the Notice of Postal Ballot and Remote e-voting
2026-08-05 - Anand Rathi Share and Stock Brokers Limited has informed the Exchange regarding Notice of Postal Ballot
2026-07-29 - Anand Rathi Share and Stock Brokers Limited has informed the Exchange regarding allotment of 450 securities pursuant to Non Convertible Securities at its meeting held on July 29, 2026
2026-07-20 - Anand Rathi Share and Stock Brokers Limited has informed the Exchange about Transcript of Earnings Conference Call held on July 15, 2026
2026-07-17 - Anand Rathi Share and Stock Brokers Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
News
Recent coverage and analyst commentary for ARSSBL
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