Anand Rathi Share & Stock Brokers Ltd
Incorporated in 1991, Anand Rathi Share and Stock Brokers Limited is a Full-Service broking company.[1]
- Market Cap ₹ 2,832 Cr.
- Current Price ₹ 452
- High / Low ₹ 795 / 414
- Stock P/E 26.1
- Book Value ₹ 208
- Dividend Yield 0.00 %
- ROCE 21.3 %
- ROE 23.0 %
- Face Value ₹ 5.00
Pros
- Company has delivered good profit growth of 84.1% CAGR over last 5 years
Cons
- Company has low interest coverage ratio.
* 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.
Peer comparison
Financial Services Financial Services Capital Markets Stockbroking & Allied
Part of BSE IPO BSE Allcap BSE Financial Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 246 | 303 | 423 | 468 | 681 | 844 | 875 | |
| 201 | 253 | 309 | 352 | 450 | 532 | 532 | |
| Operating Profit | 44 | 49 | 114 | 116 | 232 | 311 | 343 |
| OPM % | 18% | 16% | 27% | 25% | 34% | 37% | 39% |
| 4 | 0 | 0 | 1 | 1 | 1 | 3 | |
| Interest | 27 | 21 | 37 | 49 | 97 | 147 | 173 |
| Depreciation | 11 | 10 | 13 | 15 | 20 | 25 | 28 |
| Profit before tax | 10 | 19 | 64 | 52 | 117 | 141 | 146 |
| Tax % | 31% | 29% | 20% | 25% | 33% | 26% | |
| 7 | 13 | 51 | 39 | 79 | 104 | 108 | |
| EPS in Rs | 7.03 | 13.71 | 38.08 | 19.32 | 17.72 | 23.41 | 20.07 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 60% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 26% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 84% |
| 3 Years: | 27% |
| TTM: | 32% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 22% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 13 | 20 | 22 | 22 | 31 |
| Reserves | 104 | 118 | 214 | 247 | 373 | 484 | 1,275 |
| 233 | 187 | 276 | 432 | 888 | 914 | 1,214 | |
| 806 | 713 | 841 | 931 | 1,303 | 1,924 | 2,630 | |
| Total Liabilities | 1,152 | 1,027 | 1,344 | 1,630 | 2,586 | 3,344 | 5,151 |
| 39 | 36 | 51 | 56 | 74 | 84 | 81 | |
| CWIP | 5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 2 | 9 | 19 | 12 | 16 | 59 |
| 1,108 | 990 | 1,284 | 1,555 | 2,500 | 3,245 | 5,011 | |
| Total Assets | 1,152 | 1,027 | 1,344 | 1,630 | 2,586 | 3,344 | 5,151 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 225 | 25 | -39 | 15 | 184 | 674 | |
| 168 | -242 | -74 | -139 | -605 | -577 | |
| -92 | -65 | 127 | 109 | 429 | -112 | |
| Net Cash Flow | 301 | -281 | 15 | -15 | 9 | -16 |
| Free Cash Flow | 247 | 23 | -59 | 2 | 147 | 631 |
| CFO/OP | 504% | 51% | -21% | 27% | 89% | 228% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 490 | 173 | 122 | 159 | 132 | 110 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 490 | 173 | 122 | 159 | 132 | 110 |
| Working Capital Days | -478 | -347 | 414 | -529 | -527 | -681 |
| ROCE % | 12% | 25% | 17% | 22% | 21% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Active Clients Number |
|
||
| Active Clients in Broking Segment Number |
|||
| Assets under Custody (AUC) ₹ Million |
|||
| Assets under Management (AUM) / Distribution ₹ Million |
|||
| Margin Trading Facility (MTF) Book Size ₹ Million |
|||
| Number of Authorized Persons (AP) Number |
|||
| Number of Own Branches Number |
|||
| Total Number of Clients Number |
|||
Documents
Announcements
-
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
1 Apr - Postal ballot: approved material related-party transactions for FY2026-27; MD Pradeep Gupta reappointed Mar 1,2026–Feb 28,2029.
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 1 Apr
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011. 1 Apr
-
Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.
1 Apr - ARFSL pledged 2,400,000 (3.83%) Anand Rathi Share & Stock Brokers shares to Suresh Rathi Securities on March 30, 2026
-
Announcement under Regulation 30 (LODR)-Allotment
31 Mar - Allotted 1,000 secured NCDs Rs100,000 each (Rs10 crore) on March 31, 2026; 9.5% coupon; maturity April 9, 2027.
Concalls
-
Jan 2026Transcript PPT REC
-
Oct 2025Transcript PPT REC
Business Profile[1]
Anand Rathi Share and Stock Brokers Limited is a full-service brokerage house providing broking, margin trading facilities, and distribution of investment products. It caters to a diversified client base including retail, HNI, UHNI, family offices, and institutional clients. It is part of the Anand Rathi Group, which has a multi-vertical presence in financial services such as wealth management, lending, insurance broking, and asset management.