Anand Rathi Wealth Ltd
Anand Rathi Wealth Ltd was incorporated on March 22, 1995. It is an AMFI registered mutual fund distributor and is one of the leading non-bank wealth solutions firms in India, being ranked amongst the top three non-bank mutual fund distributors in the country. The company offers a wide product portfolio of wealth solutions, financial product distribution, and technology solutions to its clients.[1]
- Market Cap ₹ 25,848 Cr.
- Current Price ₹ 3,113
- High / Low ₹ 3,324 / 1,586
- Stock P/E 76.6
- Book Value ₹ 100
- Dividend Yield 0.34 %
- ROCE 54.0 %
- ROE 42.7 %
- Face Value ₹ 5.00
Pros
- Company has delivered good profit growth of 32.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 39.6%
- Company has been maintaining a healthy dividend payout of 31.8%
- Company's working capital requirements have reduced from 133 days to 106 days
Cons
- Stock is trading at 31.0 times its book value
- Promoter holding has decreased over last 3 years: -6.02%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 214 | 275 | 327 | 260 | 408 | 538 | 720 | 943 | 992 | |
| 1 | 136 | 180 | 213 | 185 | 230 | 296 | 400 | 514 | 540 | |
| Operating Profit | 0 | 78 | 95 | 114 | 75 | 178 | 242 | 320 | 429 | 452 |
| OPM % | 26% | 36% | 35% | 35% | 29% | 44% | 45% | 44% | 45% | 46% |
| -0 | 6 | 6 | 1 | 2 | 1 | 0 | 0 | 1 | 42 | |
| Interest | -0 | 9 | 3 | 3 | 3 | 2 | 4 | 6 | 11 | 16 |
| Depreciation | -0 | 4 | 4 | 16 | 12 | 11 | 12 | 14 | 20 | 25 |
| Profit before tax | 0 | 71 | 94 | 96 | 62 | 166 | 226 | 300 | 398 | 454 |
| Tax % | 21% | 29% | 30% | 26% | 29% | 24% | 26% | 26% | 26% | |
| 0 | 50 | 65 | 71 | 44 | 125 | 168 | 221 | 295 | 338 | |
| EPS in Rs | 4.00 | 18.71 | 12.11 | 13.18 | 8.03 | 15.08 | 20.17 | 26.46 | 35.58 | 40.65 |
| Dividend Payout % | -0% | -0% | -0% | -0% | 31% | 36% | 30% | 26% | 39% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 32% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 33% |
| TTM: | 30% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 107% |
| 1 Year: | 56% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 40% |
| Last Year: | 43% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.19 | 13 | 13 | 14 | 14 | 21 | 21 | 21 | 42 | 42 |
| Reserves | 6 | 76 | 141 | 212 | 266 | 360 | 484 | 661 | 661 | 792 |
| -0 | 1 | 1 | 42 | 33 | 39 | 36 | 51 | 79 | 81 | |
| 0 | 79 | 58 | 162 | 49 | 82 | 102 | 160 | 187 | 206 | |
| Total Liabilities | 7 | 169 | 213 | 429 | 362 | 501 | 644 | 894 | 969 | 1,121 |
| -0 | 9 | 9 | 32 | 20 | 93 | 110 | 131 | 172 | 176 | |
| CWIP | -0 | -0 | -0 | 65 | 69 | -0 | -0 | 1 | -0 | -0 |
| Investments | 4 | 62 | 129 | 193 | 194 | 193 | 195 | 202 | 320 | 287 |
| 3 | 98 | 75 | 139 | 79 | 215 | 338 | 559 | 477 | 658 | |
| Total Assets | 7 | 169 | 213 | 429 | 362 | 501 | 644 | 894 | 969 | 1,121 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| -0 | 97 | 57 | 143 | -24 | 147 | 109 | 267 | 352 | |
| -0 | -91 | -43 | -156 | 52 | -79 | -44 | -233 | -67 | |
| -0 | -7 | -3 | 28 | -17 | -49 | -64 | -72 | -282 | |
| Net Cash Flow | -0 | -2 | 11 | 15 | 12 | 19 | 0 | -37 | 3 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 248 | 18 | 12 | 9 | 14 | 13 | 11 | 14 | 13 |
| Inventory Days | |||||||||
| Days Payable | |||||||||
| Cash Conversion Cycle | 248 | 18 | 12 | 9 | 14 | 13 | 11 | 14 | 13 |
| Working Capital Days | 816 | 22 | -36 | -48 | -24 | 26 | 100 | 192 | 106 |
| ROCE % | 79% | 47% | 22% | 46% | 48% | 48% | 54% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
18 Oct - Q2 & H1 FY2026 Earnings Conference Call Transcript dated 14th October, 2025
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
14 Oct - Audio Recording of Earnings Conference Call for Q2 & H1 FY 26 held on 14th October, 2025
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Oct - Newspaper Publication of Unaudited Financial Result for the second quarter and half year ended 30th September, 2025
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Board Meeting Outcome for Revised Outcome Of Board Meeting Held On Monday, 13Th October, 2025
13 Oct - Board approved in-principle transfer of entire shares in Freedom Wealth Solutions Pvt Ltd; cessation as subsidiary, 13 Oct 2025.
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Announcement under Regulation 30 (LODR)-Investor Presentation
13 Oct - Submission of Investor Presentation for the second quarter and half year ended 30th September, 2025
Annual reports
Concalls
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Oct 2025Transcript PPT
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Jul 2025Transcript PPT REC
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Apr 2025Transcript PPT REC
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Jan 2025Transcript PPT REC
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Oct 2024Transcript PPT REC
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Jul 2024Transcript PPT
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Apr 2024Transcript PPT
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Jan 2024Transcript PPT
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Oct 2023Transcript PPT REC
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Jul 2023Transcript PPT
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Apr 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Jul 2022Transcript PPT
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Apr 2022Transcript PPT
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Apr 2022TranscriptNotesPPT
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Jan 2022Transcript PPT
Part of Anand Rathi Group[1]
Anand Rathi Group, established in 1994 provides a range of Investment Services across asset classes, as well as Private Wealth, Institutional Equities, Investment Banking, Insurance Broking, and NBFC with a total AUM of 77,103 Crs as of FY25.[2]