Anand Rathi Wealth Ltd logo

Anand Rathi Wealth Ltd

ANANDRATHI NSE

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]

AI Verdict: HOLD Confidence: 5%

Anand Rathi Wealth is an exceptional compounder with 42% 3-year ROE and 33% profit CAGR, but at 75.4x PE and 30x book value, the stock prices in years of flawless execution. Both analysts covering the stock rate it a Hold, reflecting rich valuations despite strong fundamentals.

Key Fundamentals

SmallcapWealthCapital Markets
Market Cap
₹31,249 Cr
Volatility
High Risk
P/E Ratio
81.96
EBITDA
₹586 Cr
Return on Equity
34.14%
Debt to Equity
0.1
Book Value
₹60.11
EPS
₹58.61
52W High
₹1,953.6
52W Low
₹1,010

Technical Indicators

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

2
  • Stock is trading at 30.8 times its book value
  • Promoter holding has decreased over last quarter: -1.75%

Growth Rate

Revenue Growth
27.78% ↗
Net Income Growth
32.05% ↗
Cash Flow Change
17.48% ↗
ROE
-10.27% ↘
ROCE
-8.03% ↘
EBITDA Margin (Avg.)
3.77% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Anand Rathi Wealth is an exceptional compounder with 42% 3-year ROE and 33% profit CAGR, but at 75.4x PE and 30x book value, the stock prices in years of flawless execution. Both analysts covering the stock rate it a Hold, reflecting rich valuations despite strong fundamentals.

Bull Case 8
  • Outstanding return on equity of 45% in the last year and 42% average over 3 years, indicating highly efficient capital deployment
  • Compounded profit growth of 33% CAGR over 3 years and 55% over 5 years demonstrates consistent earnings scalability
  • Company is almost debt-free, providing financial flexibility and low balance sheet risk in a cyclical sector
  • Revenue growth of 31% CAGR over 3 years and 28% TTM shows sustained business momentum with no signs of slowdown
  • Stock has delivered 81% return in the last 1 year and 106% CAGR over 3 years, reflecting strong market confidence and momentum
  • Healthy dividend payout ratio of 31.1% signals management's confidence in sustainable cash flows while retaining capital for growth
  • Median sales growth of 29.8% over last 10 years shows a long runway of consistent top-line expansion
  • Market cap of Rs 30,503 Cr positions it as a mid-cap wealth management platform with room for institutional re-rating
Bear Case 8
  • PE ratio of 75.4x is extremely elevated, leaving minimal margin of safety if growth decelerates even modestly
  • Price-to-book of 30x implies the market is paying an enormous premium over tangible assets, typical of bubble-zone valuations
  • Promoter holding decreased by 1.75% in the last quarter, signaling potential insider concerns about valuation levels
  • 100% of analyst ratings (2 out of 2) are Hold with zero Buy recommendations, suggesting limited near-term upside from current levels
  • Dividend yield of just 0.72% offers negligible income cushion during any potential price correction
  • Revenue growth has decelerated from 36% 5-year CAGR to 28% TTM, indicating early signs of growth normalization
  • Wealth management revenues are highly correlated to equity market performance — any prolonged market downturn would compress AUM and fees
  • At 75.4x earnings, even a 33% profit growth rate implies a PEG ratio of 2.3x, well above the 1x fair-value benchmark

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

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 5
  • 1:1 bonus shares allotted Jun 4

    Anand Rathi Wealth allotted 8.3 crore bonus shares in 1:1 ratio, doubling paid-up capital to ₹83.02 crore. Utilized ₹41.51 crore from free reserves exceeding ₹950.22 crore.

  • Q4 FY26 profit up 40.5% Jun 2

    Company reported strong Q4 FY26 results with 40.5% profit jump and significant AUM growth. Board also approved final dividend of ₹7 per share for FY26.

  • Exceptional multi-year returns Jun 2

    Stock delivered 724.34% gains over three years and 79.10% in one year. Market cap exceeds ₹29,000 crore with stock trading at ₹3,527.2.

  • Chintak Shah heads NRI division Jun 15

    Anand Rathi Wealth appointed Chintak Shah as Head-NRI effective June 15, 2026, expanding leadership in the NRI wealth segment while continuing to oversee Tax function.

  • Chirag Muni appointed as CPO Jun 1

    Chirag Ramesh Muni appointed Chief Process Officer effective June 1, 2026, bringing 20+ years of professional experience to strengthen operational processes.

Neutral 5
  • Promoter sells 1.45% stake Jun 2

    Anand Rathi Financial Services sold 1.45% stake via open market on May 29, 2026, reducing holding to 18.17%. This could signal partial monetization rather than a bearish view.

  • ₹193.83 crore block trade May 29

    Block trade of ~562,370 shares executed on NSE at ₹3,446.70 per share, totaling ₹193.83 crore. Reflects institutional-level activity conducted outside regular order book.

  • Pledge disclosure corrected Jun 10

    Anand Rathi Financial Services corrected its encumbrance disclosure reporting 44.23 lakh pledged shares in Anand Rathi Wealth due to a broker error.

  • No new encumbrance in FY26 Jun 16

    Promoters confirmed no new encumbrance created in FY26, with disclosure submitted to NSE and BSE on April 2, 2026.

  • IT entity pledge invoked May 25

    Anand Rathi IT Private Limited clarified invocation of 3 pledged shares with remaining encumbered shares at 96,997. Negligible in scale.

TL;DR: Anand Rathi Wealth is firing on all cylinders with 40.5% Q4 profit growth, a generous 1:1 bonus issue funded from robust reserves of ₹950+ crore, and strong multi-year stock returns exceeding 724%. The promoter stake sale and pledge-related disclosures are minor housekeeping items rather than red flags. Key risk is the elevated P/E ratio above 72x which leaves little room for execution misses. The trend remains strongly positive with leadership expansion into NRI and process functions signaling continued growth ambitions.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
137
168
175
175
177
229
234
228
213
265
286
279
277
Expenses
78
96
100
97
106
133
132
124
125
139
152
150
194
Operating Profit
59
71
75
78
71
96
102
104
89
125
134
130
83
OPM %
43%
43%
43%
44%
40%
42%
44%
46%
42%
47%
47%
46%
30%
Other Income
3
3
6
4
12
7
6
6
18
9
9
16
67
Interest
1
1
2
2
2
1
3
4
4
4
5
4
3
Depreciation
3
3
3
4
4
4
5
5
6
6
7
7
8
PBT
59
70
76
76
77
97
101
102
98
124
130
134
138
Tax %
26%
25%
26%
26%
28%
26%
25%
26%
26%
26%
26%
26%
26%
Net Profit
43
52
57
57
56
72
75
76
72
92
97
100
102
EPS in Rs
2.59
3.14
3.39
3.41
3.32
4.36
4.52
4.56
4.36
5.56
5.85
6.01
6.16
Figures in ₹ Crores

Profit & Loss

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

Balance Sheet

  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

  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

  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%

Shareholding Pattern

As of Jun 2026
Promoters 41.37%
Public 32.51%
Others 9.93%
DIIs 9.41%
FIIs 6.78%
Total 100.00%
  Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
48.82%
48.82%
48.82%
48.74%
48.74%
48.74%
48.74%
48.69%
48.20%
48.03%
48.09%
47.99%
47.99%
47.29%
42.72%
42.72%
43.11%
43.11%
41.37%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.86%
5.02%
5.32%
5.74%
4.85%
4.90%
5.56%
6.66%
5.78%
6.78%
DIIs
10.64%
10.02%
11.24%
11.30%
11.81%
9.99%
9.72%
10.12%
9.02%
8.78%
8.33%
7.96%
7.81%
7.21%
8.40%
8.74%
9.46%
9.10%
9.41%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
25.79%
25.71%
25.06%
22.59%
23.24%
23.54%
24.26%
25.56%
26.38%
26.22%
26.43%
26.44%
29.02%
31.25%
34.90%
34.33%
31.78%
32.18%
32.51%
Others
14.75%
15.45%
14.87%
17.36%
16.20%
17.73%
17.27%
15.63%
16.40%
12.11%
12.13%
12.29%
9.44%
9.38%
9.07%
8.66%
8.99%
9.83%
9.93%
No. of Shareholders
1,55,839
45,437
41,960
39,028
36,831
35,643
35,821
37,141
44,369
44,307
68,256
54,189
52,392
53,058
59,186
74,121
73,908
64,931
74,777

Documents

Frequently Asked Questions about Anand Rathi Wealth Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: ANANDRATHI and BSE: 543415. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Anand Rathi Wealth Ltd belong to?
Anand Rathi Wealth Ltd operates in the Financial Services sector within the Capital Markets industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Anand Rathi Wealth Ltd?
Anand Rathi Wealth Ltd has a market capitalisation of approximately ₹31248.97 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Anand Rathi Wealth Ltd?
The Price-to-Earnings (PE) ratio of Anand Rathi Wealth Ltd is 81.96. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Anand Rathi Wealth Ltd?
Over the past 52 weeks, Anand Rathi Wealth Ltd has traded between a low of ₹1,010 and a high of ₹1,953.6. This range helps investors understand the stock's price volatility and recent trading levels.
Does Anand Rathi Wealth Ltd pay dividends?
Yes, Anand Rathi Wealth Ltd has a dividend yield of 0.68%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Anand Rathi Wealth Ltd?
Anand Rathi Wealth Ltd has a Return on Equity (ROE) of 34.14%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Anand Rathi Wealth Ltd on Tapetide?
On Tapetide, you can view Anand Rathi Wealth Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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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