In , Anand Rathi Wealth Ltd (Finance - Capital Markets - Wealth Management) is outperforming Nifty 500 with +23.6% relative strength. Fundamentals: Weak. On a 12-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q4 FY26 earnings • Updated Apr 18, 2026
What: Employee cost as % of top line: 42%
“that is the advantage of operating leverage that once you have the capacity and now more and more RMs, they have been garnering and adding number of clients”
What: Net Inflows: INR 13,457 crores
“40% from new clients and 60% from existing clients... net flow of last year grew by 7% only, INR 13,457 crores is what we collected new”
What: Full year PAT of INR 386 crores vs INR 375 crores guided.
“ending at INR 386 crores against the INR 375 crores guided.”
What: Not Given → INR 460 crores
“We have given FY '27 revenue guidance of INR 1,415 crores and PAT guidance of INR 460 crores”
Earnings deceleration risks from management commentary
Trigger: Cultural misfits and RMs leaving for other opportunities.
Management view: Retained 81% of the assets (INR 987 crores) despite the departures.
Monitor: labor
Trigger: SEBI's ongoing efforts to squeeze costs in the mutual fund industry.
Impact: PAT impact: 2 to 5 bps
Management view: Management believes the impact is insignificant (3% of the 40% trail revenue) and won't affect PAT growth.
Monitor: regulatory
Key quotes from recent conference calls
“During the first 9M of FY '26, we have achieved 76% of our full year revenue guidance, which is INR 1,175 crores [Previous Full Year Revenue guidance]”
“And 78% of our full year PAT guidance has been penetrated into, which was and which remains INR 375 crores. [Previous Full Year PAT guidance]”
“you will see my projection of the platinum number of clients in the next 2 years is about 450 to 500. [Initiative: Platinum Segment Expansion]”
“we have 450 account managers who are being trained to become relationship managers at a point in time [Initiative: Internal RM Pipeline]”
Headline numbers from the latest earnings call
Revenue
₹302 Cr
Why: Growth was driven by a 22% increase in mutual fund distribution revenue and strong performance in the flagship wealth management business.
Revenue excluding exceptional items like fair value gains showed consistent growth.
EBITDA
₹92 Cr
Why: Operating profit margins remained stable as the company benefited from operating leverage despite increased relationship manager headcount.
Management uses PAT as the primary operating profit proxy; margins were stable year-on-year.
PAT
₹103 Cr
Why: The reported PAT includes a significant contribution from fair value gains on investments of INR 54.6 crores.
Reported PAT was significantly higher than the core PAT of INR 92 crores due to mark-to-market gains.
Other Highlights
• Total AUM crossed the INR 1 lakh crore milestone post-quarter end.
• Board approved a bonus issuance of 1:1 and a final dividend of INR 7 per share.
• Added 1,600 new client families on a net basis during the last 12 months.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Total AUM
₹1,00,000 Cr
Why: Driven by positive movement in equity markets and net inflows of INR 13,457 crores.
Mutual Fund Yield
1.09%
Why: Maintained through a pure distribution model and trail commission structure.
AUM Retention Rate
81%
Why: Improved from 69% in the previous year due to better management of RM transitions.
Relationship Managers
401
Why: Organic growth through the internal training pipeline of account managers.
Equity Mutual Fund AUM Mix
53%
Why: Slight shift in asset allocation or mark-to-market differences compared to the previous year's 55%.
Net Inflows
₹13,457 Cr
Why: Collected from clients despite market volatility; 60% from existing clients.
Client Attrition (AUM terms)
0.54%
Why: Maintained at very low levels despite RM departures.
Return on Equity
46.74%
Why: Improved profitability and efficient capital utilization.
Forward-looking targets from management for FY27
INR 1,415 crores
AUM Growth Guidance
Guidance Changes
FY27 PAT: Not Given → INR 460 crores
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +30% | +31% | Stable |
| PAT (Net Profit) | +39% | +33% | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Anand Rathi Wealth Ltd's latest quarterly results (Mar 2026) show
Anand Rathi Wealth Ltd's profit is growing with an stable trend.
Anand Rathi Wealth Ltd's revenue growth trend is stable.
Anand Rathi Wealth Ltd's asset quality trend is insufficient_data.
Anand Rathi Wealth Ltd's long-term compounding rates
Anand Rathi Wealth Ltd's earnings growth is stable with mixed signals on a sequential basis.
Anand Rathi Wealth Ltd's trailing twelve month (TTM) performance
Anand Rathi Wealth Ltd appears significantly overvalued based on our fair value analysis.
Anand Rathi Wealth Ltd's current PE ratio is 75.7x.
Anand Rathi Wealth Ltd's current PE is 75.7x.
Anand Rathi Wealth Ltd's price-to-book ratio is 30.0x.
Anand Rathi Wealth Ltd is rated Weak with a fundamental score of 36.1/100. This score is calculated from objective financial metrics
Anand Rathi Wealth Ltd has a debt-to-equity ratio of N/A.
Anand Rathi Wealth Ltd's return ratios over recent years
Anand Rathi Wealth Ltd's operating cash flow is positive (FY2026).
Anand Rathi Wealth Ltd's current dividend yield is 0.36%.
Anand Rathi Wealth Ltd's shareholding pattern (Mar 2026)
Anand Rathi Wealth Ltd's promoter holding has remained stable recently.
Anand Rathi Wealth Ltd has been outperforming Nifty 500 for 12 consecutive weeks, indicating strong sustained outperformance.
Anand Rathi Wealth Ltd is an established outperformer with 12 weeks of consecutive Nifty 500 outperformance.
Anand Rathi Wealth Ltd has 4 key growth catalysts identified from recent earnings analysis
Anand Rathi Wealth Ltd has 2 key risks worth monitoring
In Q4 FY26, Anand Rathi Wealth Ltd's management highlighted
Anand Rathi Wealth Ltd's management has provided the following forward guidance for FY27
Anand Rathi Wealth Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Anand Rathi Wealth Ltd may be worth studying
Anand Rathi Wealth Ltd investment thesis summary:
Anand Rathi Wealth Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
