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 75.3
- Book Value ₹ 97.4
- Dividend Yield 0.34 %
- ROCE 56.3 %
- ROE 45.3 %
- Face Value ₹ 5.00
Pros
- Company has delivered good profit growth of 37.3% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 42.6%
- Company has been maintaining a healthy dividend payout of 31.5%
- Company's working capital requirements have reduced from 143 days to 111 days
Cons
- Stock is trading at 32.0 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 280 | 336 | 273 | 424 | 559 | 752 | 980 | 1,030 | |
| 179 | 225 | 195 | 240 | 310 | 421 | 539 | 567 | |
| Operating Profit | 102 | 110 | 78 | 184 | 249 | 331 | 441 | 463 |
| OPM % | 36% | 33% | 28% | 43% | 45% | 44% | 45% | 45% |
| 4 | 1 | 6 | 1 | 0 | 0 | 1 | 47 | |
| Interest | 6 | 3 | 3 | 2 | 4 | 6 | 12 | 16 |
| Depreciation | 16 | 21 | 17 | 16 | 17 | 19 | 25 | 30 |
| Profit before tax | 83 | 87 | 64 | 168 | 228 | 306 | 405 | 464 |
| Tax % | 30% | 29% | 29% | 24% | 26% | 26% | 26% | |
| 58 | 62 | 45 | 127 | 169 | 226 | 301 | 345 | |
| EPS in Rs | 11.01 | 11.35 | 8.20 | 15.20 | 20.19 | 26.88 | 36.12 | 41.38 |
| Dividend Payout % | 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: | 37% |
| 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: | 41% |
| 3 Years: | 43% |
| Last Year: | 45% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 14 | 14 | 21 | 21 | 21 | 42 | 42 |
| Reserves | 110 | 172 | 228 | 323 | 447 | 628 | 632 | 767 |
| 1 | 42 | 33 | 39 | 37 | 52 | 79 | 82 | |
| 106 | 182 | 65 | 97 | 119 | 179 | 208 | 230 | |
| Total Liabilities | 231 | 409 | 339 | 480 | 624 | 880 | 961 | 1,120 |
| 50 | 74 | 54 | 124 | 136 | 152 | 188 | 190 | |
| CWIP | 32 | 65 | 69 | 0 | 0 | 1 | 0 | 0 |
| Investments | 75 | 103 | 104 | 104 | 106 | 112 | 244 | 227 |
| 75 | 166 | 111 | 253 | 383 | 614 | 530 | 703 | |
| Total Assets | 231 | 409 | 339 | 480 | 624 | 880 | 961 | 1,120 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 67 | 140 | -18 | 146 | 84 | 278 | 244 | |
| -42 | -152 | 74 | -77 | -42 | -237 | 46 | |
| -14 | 28 | -19 | -46 | -64 | -72 | -279 | |
| Net Cash Flow | 11 | 17 | 37 | 22 | -22 | -32 | 11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 14 | 10 | 15 | 13 | 11 | 14 | 13 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 14 | 10 | 15 | 13 | 11 | 14 | 13 |
| Working Capital Days | -58 | -34 | -26 | 26 | 117 | 202 | 111 |
| ROCE % | 48% | 25% | 50% | 51% | 51% | 56% |
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]