Anand Rathi Share & Stock Brokers Ltd

₹ 472 1.00%

28 Oct - close price

About

Incorporated in 1991, Anand Rathi Share and Stock Brokers Limited is a Full-Service broking company.^[1]

Key Points

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.

Website BSE NSE

Market Cap ₹ 2,976 Cr.
Current Price ₹ 472
High / Low ₹ 795 / 414
Stock P/E 18.4
Book Value ₹ 220
Dividend Yield 1.06 %
ROCE 19.8 %
ROE 14.2 %
Face Value ₹ 5.00

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Pros

Company has delivered good profit growth of 58.4% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 27.9%

Cons

Contingent liabilities of Rs.1,114 Cr.

* 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 Financial Services Nifty IPO

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	211	230	204	199	201	227	248	255	246	273
	135	144	127	126	126	134	146	145	148	173
Operating Profit	76	86	77	73	75	93	102	111	97	100
OPM %	36%	37%	38%	37%	37%	41%	41%	43%	40%	37%
	0	0	0	0	1	1	1	0	-21	0
Interest	30	35	43	39	38	50	46	50	40	38
Depreciation	5	6	6	8	6	6	6	7	5	6
Profit before tax	41	45	28	26	31	38	51	54	32	57
Tax %	25%	27%	25%	28%	25%	25%	25%	23%	25%	25%
	31	33	21	19	23	29	38	42	24	42
EPS in Rs	6.93	7.47	4.80	4.20	5.27	4.56	6.04	6.69	3.73	6.71
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	246	303	423	468	681	844	931	1,022
	201	253	309	351	450	532	550	612
Operating Profit	44	49	114	116	232	311	382	410
OPM %	18%	16%	27%	25%	34%	37%	41%	40%
	4	0	0	1	1	1	2	-19
Interest	27	21	37	49	97	147	184	174
Depreciation	11	10	13	15	20	25	26	24
Profit before tax	10	19	64	52	117	141	174	193
Tax %	31%	29%	20%	25%	33%	26%	24%
	7	13	51	39	79	104	132	146
EPS in Rs	2.34	4.57	12.67	9.67	17.72	23.41	21.02	23.17
Dividend Payout %	0%	0%	0%	0%	0%	60%	24%

Compounded Sales Growth
10 Years:	%
5 Years:	25%
3 Years:	26%
TTM:	23%

Compounded Profit Growth
10 Years:	%
5 Years:	58%
3 Years:	50%
TTM:	76%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-8%

Return on Equity
10 Years:	%
5 Years:	19%
3 Years:	18%
Last Year:	14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	10	10	13	20	22	22	31	32
Reserves	104	118	214	247	373	484	1,322	1,357
	233	187	276	432	888	914	840	1,412
	806	713	841	931	1,303	1,924	4,909	1,680
Total Liabilities	1,152	1,027	1,344	1,630	2,586	3,344	7,102	4,480
	39	36	51	56	74	84	77	84
CWIP	5	0	0	0	0	0	0	0
Investments	1	2	9	19	12	16	44	34
	1,108	990	1,284	1,555	2,500	3,245	6,981	4,362
Total Assets	1,152	1,027	1,344	1,630	2,586	3,344	7,102	4,480

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	225	25	-39	15	188	674	745
	168	-242	-74	-139	-598	-577	-1,149
	-92	-65	127	109	419	-112	462
Net Cash Flow	301	-281	15	-15	9	-16	59
Free Cash Flow	247	23	-59	2	150	631	727
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	508%	51%	-21%	27%	91%	228%	207%

Ratios

Standalone / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	490	173	122	159	132	102	123
Inventory Days
Days Payable
Cash Conversion Cycle	490	173	122	159	132	102	123
Working Capital Days	-478	-347	414	-529	-527	-681	-1,008
ROCE %		12%	25%	17%	22%	21%	20%

Insights

In beta

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Jun 2025

Jun 2026

Total Clients
number

xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
xxx		xxx	xx	xx	xx	xx	xx
			xxx,xxx	xxx,xxx	xxx,xxx	xx,xxx	xx,xxx
			xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	x,xxx,xxx.xx
			xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
			x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	xx,xxx.xx
			x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
			x,xxx	x,xxx	x,xxx	x,xxx	x,xxx

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Number of Branches (Own)
number

Active Clients (Broking)
number

Assets under Custody
INR Mn

Assets under Distribution (AUM)
INR Mn

MTF Book Size
INR Mn

Number of Authorized Persons
number

Total Employees
number

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	69.90%	69.91%	69.92%	69.62%	69.57%
	2.83%	1.91%	0.82%	0.15%	0.31%
	9.42%	6.10%	4.98%	4.06%	3.62%
	17.87%	22.08%	24.29%	26.17%	26.49%
No. of Shareholders	1,79,117	78,809	80,457	81,900	77,839

	Mar 2026	Sep 2026
	69.92%	69.57%
	0.82%	0.31%
	4.98%	3.62%
	24.29%	26.49%
No. of Shareholders	80,457	77,839

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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