Capital Markets
Valuation | |
|---|---|
| Market Cap | 24.5 kCr |
| Price/Earnings (Trailing) | 66.65 |
| Price/Sales (Trailing) | 21.52 |
| EV/EBITDA | 44.98 |
| Price/Free Cashflow | 117.83 |
| MarketCap/EBT | 49.47 |
| Enterprise Value | 24.43 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 2.3% |
| Price Change 1M | -6.7% |
| Price Change 6M | 14.1% |
| Price Change 1Y | 56.6% |
| 3Y Cumulative Return | 95.3% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | 46 Cr |
| Cash Flow from Operations (TTM) |
| Revenue (TTM) |
| 1.14 kCr |
| Rev. Growth (Yr) | 25.2% |
| Earnings (TTM) | 367.73 Cr |
| Earnings Growth (Yr) | 29.6% |
Profitability | |
|---|---|
| Operating Margin | 44% |
| EBT Margin | 44% |
| Return on Equity | 44.68% |
| Return on Assets | 32.84% |
| Free Cashflow Yield | 0.85% |
| Cash Flow from Financing (TTM) | -279.1 Cr |
| Cash & Equivalents | 92.19 Cr |
| Free Cash Flow (TTM) | 208.28 Cr |
| Free Cash Flow/Share (TTM) | 25.09 |
Balance Sheet | |
|---|---|
| Total Assets | 1.12 kCr |
| Total Liabilities | 296.71 Cr |
| Shareholder Equity | 823 Cr |
| Current Assets | 696.23 Cr |
| Current Liabilities | 220.67 Cr |
| Net PPE | 177.07 Cr |
| Inventory | 0.00 |
| Goodwill | 2.49 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.02 |
| Debt/Equity | 0.02 |
| Interest Coverage | 29.82 |
| Interest/Cashflow Ops | 18.24 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 13 |
| Dividend Yield | 0.44% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | -0.40% |
Growth: Awesome revenue growth! Revenue grew 21.6% over last year and 116.2% in last three years on TTM basis.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 95.3% return compared to 13.2% by NIFTY 50.
Profitability: Very strong Profitability. One year profit margin are 32%.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Technicals: SharesGuru indicator is Bearish.
Growth: Awesome revenue growth! Revenue grew 21.6% over last year and 116.2% in last three years on TTM basis.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 95.3% return compared to 13.2% by NIFTY 50.
Profitability: Very strong Profitability. One year profit margin are 32%.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Dividend Yield | 0.44% |
| Dividend/Share (TTM) | 13 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 44.28 |
Financial Health | |
|---|---|
| Current Ratio | 3.16 |
| Debt/Equity | 0.02 |
Technical Indicators | |
|---|---|
| RSI (14d) | 33.71 |
| RSI (5d) | 77.73 |
| RSI (21d) | 33.02 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of Anand Rathi Wealth's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the Q3 & 9M FY2026 earnings call, management provided a positive outlook for the company, highlighting a strong financial performance and ambitions for sustained growth. For Q3 FY2026, the profit after tax (PAT) grew by 30% year-on-year, crossing the INR 100 crore mark for the first time, reaching INR 100 crores. Total revenue increased by 25% year-on-year to INR 306 crores. For the nine-month period of FY2026, PAT rose by 29% year-on-year to INR 294 crores, and revenue jumped 21% to INR 897 crores.
Management maintained its full-year guidance, projecting a total revenue of INR 1,175 crores, of which they had already achieved 76% year-to-date, and a PAT guidance of INR 375 crores, with 78% achieved so far. The total assets under management (AUM) grew by 30% year-on-year to INR 99,008 crores, and net inflows increased by 10% year-on-year, reaching INR 10,078 crores.
Key forward-looking points include the expectation to continue delivering market-agnostic performance, with an aspiration for consistent growth. Management indicated that the current operational structure positions them well to manage and leverage any market fluctuations while maintaining a focus on client needs. They also reaffirmed a growth target of 20% to 25% for the upcoming fiscal year. The client base in their flagship Private Wealth business grew, with a focus on retaining existing customers, reflecting strong client relationships and management confidence.
Overall, management's strategic focus remains on achieving robust growth while enhancing client satisfaction and loyalty.
Understand Anand Rathi Wealth ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Anand Rathi Financial Services Limited | 19.92% |
| Anand Rathi | 9.97% |
| Pradeep Kumar Gupta | 4.43% |
| Quant Mutual Fund - Quant Small Cap Fund | 3.32% |
| Priti Pradeep Gupta | 2.66% |
| Feroze Azeez - Azeez Family Trust | 2.17% |
| Pradeep Kumar Gupta HUF | 1.79% |
Detailed comparison of Anand Rathi Wealth against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| MOTILALOFS | Motilal Oswal Financial Services | 46.88 kCr | 7.93 kCr | -8.10% | +15.20% | 23.09 | 5.91 | - | - |
| 360ONE | 360 ONE WAM | 45.14 kCr |
Comprehensive comparison against sector averages
ANANDRATHI metrics compared to Capital
| Category | ANANDRATHI | Capital |
|---|---|---|
| PE | 66.65 | 32.73 |
| PS | 21.52 | 10.61 |
| Growth | 21.6 % | 4.2 % |
Anand Rathi Wealth is a prominent Financial Products Distributor based in Mumbai, India. With a stock ticker of ANANDRATHI, the company boasts a market capitalization of Rs. 7,303.3 Crores.
The company offers a range of financial and insurance services, primarily focusing on distributing equity and debt mutual funds, non-principal protected structured products, and other financial instruments. Moreover, Anand Rathi Wealth operates a sophisticated technology platform designed for financial advisors. This platform includes features for client reporting, business dashboards, client engagement, online mutual fund transactions, and goal planning products.
Founded in 1995, Anand Rathi Wealth was originally known as Anand Rathi Wealth Services Limited before rebranding to its current name in January 2021.
In terms of financial performance, the company has recently reported trailing 12 months revenue of Rs. 936.5 Crores and a profit of Rs. 283.9 Crores over the past four quarters. Notably, Anand Rathi Wealth achieved a substantial revenue growth of 33.5% over the past year.
Anand Rathi Wealth also distributes dividends to its investors, currently yielding 0.6% annually, with a recent return of Rs. 10.5 dividend per share. The company is active in share buybacks, having repurchased 0.6% of its stock last year, which positively influences its share price.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
ANANDRATHI vs Capital (2022 - 2026)
Here are the major questions and their corresponding answers from the Q&A section of the earnings transcript:
Question: "Why is Anand Rathi Wealth Limited sticking to the distribution model instead of combining it with advisory?" Answer: We believe a company should not operate both distribution and advisory simultaneously due to potential biases. Most revenue comes from distribution in the industry. If we move to advisory, transparency will be compromised. Our focus is on revenue from distribution, which supports our growth aspiration of INR 1,175 crores.
Question: "Regarding the sequential decline in income from other financial products, could you explain?" Answer: The decline is minor and attributed to lower primary issuances in Q3 compared to Q2. We raised INR 1,800 crores, down from INR 1,979 crores in the previous quarter, impacting our income slightly.
Question: "What are your thoughts on recent RM attrition?" Answer: We have a control over attrition, with 6 RMs leaving recently leading to a retention of 88% of managed assets. This selective attrition improves our cultural fit and maintains the quality of service for clients.
Question: "What about secondary issuances during this quarter?" Answer: For Q3 FY '26, secondary issuances amounted to INR 716 crores, down from INR 991 crores in Q2 FY '26 and up from INR 589 crores in Q3 FY '25.
Question: "Will you increase the employee cost, which has decreased to about 42% of topline?" Answer: The drop is due to operating leverage; as RMs onboard new clients, employee costs as a percentage of revenue will gradually decrease but we plan to reinvest these savings to strengthen the company.
Question: "Regarding your employee policies after the loss of Chethan Shenoy, will you implement any new humanitarian measures?" Answer: We do provide support to families of long-term employees who pass away, and we plan to formalize this with the launch of a "Chethan's Peace of Mind" scheme, ensuring ongoing support without depending solely on management discretion.
Question: "What are the new customer vs. existing customer contributions to AUM growth?" Answer: Currently, 40% of AUM growth comes from new clients while 60% is from existing ones. This mix is stable and we expect it to remain similar in the coming quarters.
Question: "Will you revise your full-year guidance based on current performance?" Answer: We prefer to under-promise and over-deliver. We'll maintain our guidance of 20%-25% growth, as this approach keeps us aligned with shareholder expectations and avoids risky overcommitment.
These responses provide insights into the company's operational outlook, strategic decisions, and management's commitment to transparency and stability.
| Feroze Azeez | 1.53% |
| Jaipur Securities Private Limited | 1.48% |
| Navratan Mal Gupta HUF | 1.41% |
| Munix(India)private | 1% |
| Twelfth Tier Property Limited | 0.43% |
| Anand Rathi IT Private Limited | 0.36% |
| Anand Rathi Insurance Brokers Limited | 0.25% |
| Aqua Proof Wall Plast Private Limited | 0.15% |
| Pooja Maru | 0.14% |
| Amit Capital And Securities Private Limited | 0.06% |
| Tara Mantri | 0.03% |
| Krishnav Pradeep Gupta | 0.02% |
| Asha Kailash Biyani | 0.01% |
Distribution across major stakeholders
Distribution across major institutional holders
| 4.23 kCr |
| -6.60% |
| +10.30% |
| 37.86 |
| 10.67 |
| - |
| - |
| NUVAMA | Nuvama Wealth Management | 24.62 kCr | 4.49 kCr | -8.50% | +14.60% | 23.74 | 5.48 | - | - |
| Total profit before tax |
| 0.8% |
| 135 |
| 134 |
| 126 |
| 99 |
| 104 |
| 102 |
| Current tax | 0% | 35 | 35 | 32 | 23 | 26 | 27 |
| Deferred tax | 43.5% | -0.04 | -0.84 | 0.93 | 2.93 | 1.21 | -1 |
| Total tax | 3% | 35 | 34 | 32 | 26 | 27 | 26 |
| Total profit (loss) for period | 0% | 100 | 100 | 94 | 74 | 77 | 76 |
| Other comp. income net of taxes | 60.9% | 0.25 | -0.92 | 0.6 | -0.57 | -0.5 | -0.71 |
| Total Comprehensive Income | 1% | 100 | 99 | 95 | 73 | 77 | 76 |
| Earnings Per Share, Basic | 0.4% | 12.07 | 12.03 | 11.31 | 8.87 | 9.289 | 9.16 |
| Earnings Per Share, Diluted | 0.4% | 12.07 | 12.03 | 11.31 | 8.87 | 9.289 | 9.16 |
| Debt equity ratio | - | - | - | - | 0.03 | - | - |
| Debt service coverage ratio | - | - | - | - | 0.09 | - | - |
| Interest service coverage ratio | - | - | - | - | 0.02 | - | - |
| 44 |
| Total Expenses | 29.8% | 546 | 421 | 311 | 243 |
| Profit Before exceptional items and Tax | 32.8% | 398 | 300 | 226 | 166 |
| Total profit before tax | 32.8% | 398 | 300 | 226 | 166 |
| Current tax | 32% | 100 | 76 | 56 | 40 |
| Deferred tax | 14.5% | 2.34 | 2.17 | 1.79 | 0.19 |
| Total tax | 31.2% | 102 | 78 | 58 | 41 |
| Total profit (loss) for period | 33.6% | 295 | 221 | 168 | 125 |
| Other comp. income net of taxes | -313.6% | -3.26 | -0.03 | -0.75 | 0.09 |
| Total Comprehensive Income | 32.3% | 292 | 221 | 167 | 126 |
| Earnings Per Share, Basic | 35.2% | 35.52 | 26.5275 | 20.18 | 15.09 |
| Earnings Per Share, Diluted | 35.4% | 35.52 | 26.4945 | 20.09 | 15.025 |
| Debt equity ratio | - | 0.01 | - | - | - |
| Debt service coverage ratio | - | 0.09 | - | - | - |
| Interest service coverage ratio | - | 0.014 | - | - | - |
| -10.4% |
| 285 |
| 318 |
| 201 |
| 201 |
| 197 |
| 193 |
| Total non-current financial assets | -9.9% | 293 | 325 | 208 | 206 | 200 | 197 |
| Total non-current assets | -5.6% | 469 | 497 | 359 | 338 | 358 | 337 |
| Total assets | 15.7% | 1,121 | 969 | 861 | 894 | 797 | 644 |
| Borrowings, non-current | -11.8% | 16 | 18 | 0 | 0 | 4.16 | 22 |
| Total non-current financial liabilities | 1.6% | 64 | 63 | 51 | 35 | 31 | 22 |
| Provisions, non-current | -32.7% | 5.49 | 7.67 | 5.22 | 3.05 | 2.22 | 3.48 |
| Total non-current liabilities | -1.4% | 74 | 75 | 57 | 40 | 34 | 26 |
| Borrowings, current | 4.7% | 3.89 | 3.76 | 4.16 | 8.32 | 8.3 | 14 |
| Total current financial liabilities | 240.9% | 76 | 23 | 110 | 50 | 104 | 24 |
| Provisions, current | -22.7% | 120 | 155 | 94 | 109 | 61 | 80 |
| Total current liabilities | 12.2% | 213 | 190 | 219 | 172 | 175 | 113 |
| Total liabilities | 7.9% | 287 | 266 | 276 | 212 | 209 | 139 |
| Equity share capital | 0% | 42 | 42 | 21 | 21 | 21 | 21 |
| Total equity | 18.7% | 834 | 703 | 585 | 682 | 588 | 505 |
| Total equity and liabilities | 15.7% | 1,121 | 969 | 861 | 894 | 797 | 644 |
| 70.7% |
| Proceeds from issuing shares | -4.3% |
| Payments to acquire or redeem entity's shares | - |
| Repayments of borrowings | -297.5% |
| Payments of lease liabilities | 55.6% |
| Dividends paid | 34.7% |
| Interest paid | 232.3% |
| Other inflows (outflows) of cash | - |
| Net Cashflows from Financing Activities | -288.4% |
| Net change in cash and cash eq. | 104.3% |