Anand Rathi Wealth logo

Anand Rathi Wealth

ANANDRATHI NSE

Key Fundamentals

SmallcapWealthCapital Markets
Market Cap
₹36,776 Cr
Volatility
Moderate
P/E Ratio
79.39
EBITDA
₹586 Cr
Return on Equity
39.25%
Debt to Equity
0.08
Book Value
₹60.11
EPS
₹58.61
52W High
₹2,255
52W Low
₹1,353.85

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

5
  • Company is almost debt free.
  • Company has delivered good profit growth of 54.7% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 42.2%
  • Company has been maintaining a healthy dividend payout of 31.1%
  • Company's median sales growth is 29.8% of last 10 years

Weaknesses

3
  • Stock is trading at 35.8 times its book value
  • Promoter holding has decreased over last quarter: -1.74%
  • Earnings include an other income of Rs.200 Cr.

Growth Rate

Revenue Growth
27.78% lower than 3Y
Net Income Growth
32.05% lower than 3Y
Cash Flow Change
15.13% higher than 3Y
ROE
-10.27% lower than 3Y
ROCE
-8.03% lower than 3Y
EBITDA Margin (Avg.)
3.77% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Anand Rathi Wealth Ltd is a capital markets company with a market cap of ₹36,776 Cr, trading at a PE of 78.5x and PB of 35.7x. The company has delivered strong profit growth of ~55% CAGR over five years with ROE consistently above 40%, but its valuation multiples are elevated and recent earnings include ₹200 Cr of other income.

Bull Case 7
  • Exceptional profit growth with 5-year compounded profit CAGR of 55% and TTM profit growth accelerating to 47%
  • Consistently high return on equity at 45% last year, 42% over 3 years, and 41% over 5 years — well above industry norms
  • Company is almost debt free, reducing balance sheet risk and interest cost burden
  • Strong revenue trajectory with 5-year compounded sales CAGR of 36% and median sales growth of 29.8% over the last 10 years
  • Healthy dividend payout ratio of 31.1% with a current dividend yield of 0.59%, indicating shareholder-friendly capital allocation despite being in a growth phase
  • Stock has delivered 1-year price CAGR of 49% and 3-year CAGR of 86%, reflecting sustained market confidence in the business model
  • TTM sales growth of 23% indicates continued top-line momentum even on a larger base
Bear Case 7
  • PE ratio of 78.5x is significantly elevated, pricing in substantial future growth and leaving limited margin of safety
  • Price-to-book ratio of 35.7x is extremely high, suggesting the stock is priced far above its net asset value
  • Earnings quality concern as other income of ₹200 Cr forms a meaningful component of reported profits, which may not be recurring
  • Promoter holding decreased by 1.74% in the last quarter, which may signal reduced insider confidence or dilution
  • Capital markets sector is inherently cyclical — revenue and profits are tied to market activity levels, which can decline sharply in downturns
  • TTM sales growth of 23% has decelerated from the 3-year CAGR of 31% and 5-year CAGR of 36%, indicating potential growth moderation
  • At a market cap of ₹36,776 Cr, the company needs to sustain exceptional growth rates to justify current valuation, raising execution risk

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 1
  • IFSC subsidiary investment Sep 02

    Anand Rathi Wealth subscribed to a ₹5.49 crore rights issue in its wholly owned subsidiary Anand Rathi FME (IFSC) Pvt Ltd, which holds in-principle IFSCA approval for fund management activities.

TL;DR: Anand Rathi Wealth is expanding its footprint into IFSC-based fund management with a modest ₹5.49 crore investment in its subsidiary. No headwinds surfaced in the latest news cycle. The strategic push into IFSC signals intent to diversify revenue streams, and execution on the fund management approval will be worth watching.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
168
175
175
177
229
234
228
213
265
286
279
277
313
Expenses
96
100
97
106
133
132
124
125
139
152
150
194
205
Operating Profit
71
75
78
71
96
102
104
89
125
134
130
83
108
OPM %
43%
43%
44%
40%
42%
44%
46%
42%
47%
47%
46%
30%
35%
Other Income
3
6
4
12
7
6
6
18
9
9
16
67
109
Interest
1
2
2
2
1
3
4
4
4
5
4
3
4
Depreciation
3
3
4
4
4
5
5
6
6
7
7
8
8
PBT
70
76
76
77
97
101
102
98
124
130
134
138
206
Tax %
25%
26%
26%
28%
26%
25%
26%
26%
26%
26%
26%
26%
21%
Net Profit
52
57
57
56
72
75
76
72
92
97
100
102
163
EPS in Rs
3.14
3.39
3.41
3.32
4.36
4.52
4.56
4.36
5.56
5.85
6.01
6.16
9.83
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1
214
275
327
260
408
538
720
943
1,208
1,156
Expenses
1
136
180
213
185
230
296
400
514
636
701
Operating Profit
0
78
95
114
75
178
242
320
429
572
455
OPM %
26%
36%
35%
35%
29%
44%
45%
44%
45%
47%
39%
Other Income
0
6
6
1
2
1
0
0
1
0
200
Interest
0
9
3
3
3
2
4
6
11
16
15
Depreciation
0
4
4
16
12
11
12
14
20
29
30
PBT
0
71
94
96
62
166
226
300
398
527
609
Tax %
21%
29%
30%
26%
29%
24%
26%
26%
26%
26%
—
Net Profit
0
50
65
71
44
125
168
221
295
391
462
EPS in Rs
2
9.36
6.06
6.59
4.02
7.54
10.08
13.23
17.8
23.58
27.85
Div. Payout %
0%
0%
0%
0%
31%
36%
30%
26%
39%
28%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.19
13
13
14
14
21
21
21
42
42
Reserves
6
76
141
212
266
360
484
661
661
984
Borrowings
0
1
1
42
33
39
36
51
79
83
Other Liabilities
0
79
58
162
49
82
102
160
187
224
Total Liabilities
7
169
213
429
362
501
644
894
969
1,332
Fixed Assets
0
9
9
32
20
93
110
131
172
180
CWIP
0
0
0
65
69
0
0
1
0
0
Investments
4
62
129
193
194
193
195
202
320
316
Other Assets
3
98
75
139
79
215
338
559
477
836
Total Assets
7
169
213
429
362
501
644
894
969
1,332
Figures in ₹ Crores

Cash Flow

Particulars Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0
97
57
143
-24
147
109
267
352
254
Investing
0
-91
-43
-156
52
-79
-44
-233
-67
89
Financing
0
-7
-3
28
-17
-49
-64
-72
-282
-142
Net Cash Flow
0
-2
11
15
12
19
0
-37
3
200
Free Cash Flow
0
93
34
92
-29
129
97
262
316
240
CFO/OP
0
150
97
143
0
122
65
98
106
67
Figures in ₹ Crores

Ratios

Particulars Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
248
18
12
9
14
13
11
14
13
13
Cash Conversion Cycle
248
18
12
9
14
13
11
14
13
13
Working Capital Days
816
22
-36
-48
-24
26
100
192
106
122
ROCE %
—
—
79%
47%
22%
46%
48%
48%
54%
57%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs6.37%Promot.41.37%Others8.48%DIIs10.39%Public33.39%As ofJun 2026
13.83% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Anand Rathi Wealth

What does Anand Rathi Wealth Ltd do?
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 po...
Where is Anand Rathi Wealth Ltd (ANANDRATHI) listed?
Anand Rathi Wealth Ltd trades as ANANDRATHI on the NSE and under code 543415 on the BSE.
Which sector does Anand Rathi Wealth Ltd belong to?
Anand Rathi Wealth Ltd is classified under the Capital Markets sector, in the Wealth industry.
What is the market capitalisation of Anand Rathi Wealth Ltd?
Anand Rathi Wealth Ltd has a market capitalisation of ₹36,776 Cr, which places it in the Large Cap band.
What is the PE ratio of Anand Rathi Wealth Ltd?
Anand Rathi Wealth Ltd trades at a PE ratio of 79.39, on earnings per share of ₹58.61, against a book value of ₹60.11 per share.
What is the 52-week high and low of Anand Rathi Wealth Ltd?
Over the last 52 weeks Anand Rathi Wealth Ltd has traded between ₹1,353.85 and ₹2,255.
Does Anand Rathi Wealth Ltd pay dividends?
Anand Rathi Wealth Ltd has a dividend yield of 0.59%.
What is the Return on Equity (ROE) of Anand Rathi Wealth Ltd?
Anand Rathi Wealth Ltd reported a return on equity of 39.25%. Its debt-to-equity ratio is 0.08.

Company Information

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]

Website rathi.com
CEO Mr. Anand Nanakishore Rathi
Employees 1,161
Listed 2021-12-14
Face Value ₹ 5
Issued Size 8,30,20,634

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