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Anand Rathi Wealth Limited (ANANDRATHI) · mywealthgrid

Anand Rathi Wealth Limited

NSE:ANANDRATHI BSE:ANANDRATHI

FinancialsCapital MarketsNIFTY SMALLCAP 50 +5 anandrathiwealth.in· Mumbai

₹2,117.5

-0.12%1 Oct close

Mkt cap

₹17,575 Cr

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About

Anand Rathi Wealth Limited is a financial products distributor operating in India's capital markets sector, with a market cap of ₹18,050 Cr. The company demonstrates strong profitability through ROE of 47.35% and average operating margin of 41.91%, supported by minimal leverage (D/E 0.02).

Founded: 2002
Face value: ₹5

Market cap

₹17,575 Cr

P/E

37.8×

P/B

17.6×

Dividend yield

0.6%

ROE

47.4%

ROCE

59.1%

Debt / equity

0.02

OPM

41.9%

EPS (TTM)

₹56.0

Book value

₹120.2

52-week high

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52-week low

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Key insights

Company research notes and source-linked reviews

Key risks

Valuation at PE 38.82 offers limited margin of safety; 1y return of 67.34% already prices in significant gains
Operating margins compressed to 29–35% in recent quarters (Mar–Jun 2026) versus 45%+ in Sep–Dec 2025; verify whether cyclical or structural
Revenue flat across quarters (₹280–320 Cr) despite margin swings; clarify if market-driven pullback or operational constraints
Capital markets distribution revenue inherently cyclical and sensitive to investor activity levels; verify company's exposure to market downturns

Generated analysis · source review pending

Growth drivers

Operating margins ranged from 29.97% to 46.79% across quarters; recovery toward 45%+ would expand cash generation for reinvestment
ROE of 47.35% indicates capital deploys efficiently; if redirected from dividend distributions into growth investments, could fund expansion
D/E of 0.02 provides substantial financial flexibility; verify whether management plans to utilize leverage for acquisitions or organic investments
Capital markets distribution market potential with growing investor participation in India; verify market size growth and whether distribution model benefits

Generated analysis · source review pending

1,183 historical price candles were omitted because the exchange source has not been verified.

₹2,117.5+0.8%1Y

Quick read

rule-based

Pros

+Strong return on equity of 44.3% (3-yr avg)
+High return on capital employed of 55.8%
+Healthy operating margin of 41.9%
+Profit CAGR of 33% over the last 3 years
+Revenue CAGR of 27.9% over the last 3 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 34.9×

Cons

−Trading at 17.6× book value

Research score

Structured signal from quality, growth, valuation and momentum.

70/100

Business quality: 100
Growth: 94
Valuation: 15

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 50 NIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Anand Rathi Wealth LimitedANANDRATHIANANDRATHI	₹17,575 Cr	₹17,592 Cr	₹1,197 Cr	₹462 Cr	41.9%	₹465 Cr	34.6%	59.1%	47.4%	14
Prudent Corporate Advisory Services LimitedPRUDENTPRUDENT	₹12,913 Cr	₹12,913 Cr	₹1,371 Cr	₹332 Cr	23.6%	₹245 Cr	16.9%	—	28.6%	—
Dharni Capital Services LtdDHARNIDHARNI	₹113 Cr	₹118 Cr	₹6 Cr	₹3 Cr	54.5%	₹3 Cr	51.4%	17.8%	13.1%	9
Sodhani Capital LtdSODHACAPSODHACAP	₹56 Cr	₹56 Cr	₹5 Cr	₹3 Cr	67.9%	₹2 Cr	51.7%	17.7%	13.1%	—
Vedant Asset LtdVEDANTASSETVEDANTASSET	₹17 Cr	—	₹5 Cr	₹0 Cr	7.8%	₹0 Cr	8.4%	—	—	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	417	549	724	939	1,149
	240	310	421	539	667
	177	239	304	400	482
OPM %	42.5%	43.5%	41.9%	42.6%	41.9%
Depreciation	16	17	19	25	34
Interest	2	4	6	12	16
	8	10	28	42	105
Profit before tax	168	228	306	405	536
Tax	41	60	80	104	139
Tax %	24.4%	26.1%	26.1%	25.7%	25.9%
	127	169	226	301	397
PAT margin %	30.4%	30.7%	31.2%	32%	34.6%
EPS (₹)	30.5	40.5	54.1	36.2	36.2
EPS adjusted (₹)	7.6	10.1	13.5	18.1	23.8
	36.1%	29.7%	25.9%	38.7%	35.9%
Annual report	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	21	21	21	42	42
Reserves	—	447	628	632	957
Minority interest	—	12	13	14	14
	—	37	8	22	17
	—	107	210	252	300
Total equity & liabilities	—	624	880	961	1,329
	121	136	152	188	191
CWIP	—	0	1	0	—
Investments	—	106	112	244	265
	—	383	614	530	873
Total assets	—	624	880	961	1,329

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-24	146	84	278	244	281
	52	-77	-43	-237	46	64
	-17	-47	-64	-72	-279	-142
Net cash flow	12	22	-23	-32	11	202
Free cash flow	-28	143	67	278	208	268
CFO / Operating profit %	—	82.2%	35.3%	91.4%	61%	58.4%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—
EBITDA margin %	42.5%	43.5%	41.9%	42.6%	41.9%
EBIT margin %	38.7%	40.5%	39.3%	39.9%	38.9%
PAT margin %	30.4%	30.7%	31.2%	32%	34.6%
Working capital
Receivable days	—	11	14	14	14
Inventory days	—	0	0	0	0
Payable days	—	0	0	0	0
NWC days	—	11	14	14	14
Leverage
Current ratio	—	2.92	3.45	2.67	3.83
Debt to EBITDA	—	0.15	0.03	0.05	0.04
Debt to equity	—	0.08	0.01	0.03	0.02
Interest coverage	84	59	48.2	36.1	34.9
Asset turnover	—	0.88	0.82	0.98	0.86
Return ratios
Return on assets %	—	27%	25.7%	31.3%	29.9%
Return on capital employed %	—	45.8%	51.6%	56.7%	59.1%
Return on equity %	—	36%	34.8%	44.6%	39.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	48.69%	48.2%	48.03%	48.09%	47.99%	47.99%	47.29%	42.72%	42.72%	43.11%	43.11%	41.37%
	1.84%	3%	4.86%	5.02%	5.32%	5.74%	4.85%	4.9%	5.56%	6.66%	5.78%	6.37%
	10.26%	9.16%	8.78%	8.33%	7.96%	7.81%	7.21%	8.4%	8.74%	9.46%	9.1%	10.39%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	39.21%	39.64%	38.33%	38.56%	38.73%	38.46%	40.65%	43.98%	42.98%	40.77%	42.01%	41.87%
No. of shareholders	—	—	—	—	—	—	—	—	74,121	73,908	64,931	80,729

Promoter holding down 7.32 percentage points since Sep 2023.

42 deals · 14 Dec 2021 – 6 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
6 Aug 2026	ANAND NANDKISHORE RATHI	Block	NSE	Sell	2,97,000	₹1,975.00	₹58.66 Cr
6 Aug 2026	FAHIM SULTAN ALI	Block	NSE	Buy	2,73,000	₹1,975.00	₹53.92 Cr
6 Aug 2026	NAVRATAN MAL GUPTA (HUF)	Block	NSE	Sell	2,55,000	₹1,975.00	₹50.36 Cr
6 Aug 2026	MANJUSHREE FINCAP PRIVATE LIMITED	Block	NSE	Buy	1,70,000	₹1,975.00	₹33.58 Cr
6 Aug 2026	JAIPUR SECURITIES PRIVATE LIMITED	Block	NSE	Sell	1,45,000	₹1,975.00	₹28.64 Cr
6 Aug 2026	HEMANG SHAH FAMILY TRUST	Block	NSE	Buy	1,27,000	₹1,975.00	₹25.08 Cr
6 Aug 2026	K R FAMILY TRUST	Block	NSE	Buy	1,27,000	₹1,975.00	₹25.08 Cr
29 May 2026	ANAND RATHI FINANCIAL SERVICES LIMITED	Bulk	NSE	Sell	14,46,000	₹3,457.97	₹500.02 Cr
12 May 2026	FAHIM SULTAN ALI	Bulk	NSE	Sell	5,08,821	₹3,484.96	₹177.32 Cr
9 Dec 2025	AMIT RATHI	Bulk	NSE	Sell	20,00,000	₹2,800.03	₹560.01 Cr

1–10 of 42

1 / 5

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Anand Nandkishore RathiNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Pradeep Navratan GuptaNon-Executive - Non Independent Director
Mr. Rakesh RawalExecutive Director-CEO
Mr. Debasish PandaNon-Executive - Independent Director
Mr. Adesh Kumar GuptaNon-Executive - Independent Director
Mrs. Deena Asit MehtaNon-Executive - Independent Director
Mr. Rajesh BhutaraChief Financial Officer
Mr. Pravin JoganiCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹2,119.8 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹2,114.9	+4.7	+0.2%	₹2,114.9	682	+682	1,177	250
23 Nov 2026	₹2,113.2	-6.2	-0.3%	₹2,139.8	1	+1	4	250
29 Dec 2026	₹2,131.8	0	0%	₹2,153.2	0	0	0	250

Open the chart icon on a row for that contract's close over 1 stored session, with open interest as bars beneath it.

28

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	1,800	₹0.0	0	0	0
0	0	0	₹0.0	1,840	₹0.0	0	0	0
0	0	0	₹0.0	1,880	₹0.0	0	0	0
0	0	0	₹0.0	1,900	₹0.0	0	0	0
0	0	0	₹0.0	1,920	₹0.0	0	0	0
0	0	0	₹0.0	1,940	₹0.0	0	0	0
0	0	0	₹0.0	1,960	₹0.0	0	0	0
0	0	0	₹0.0	1,980	₹0.0	0	0	0

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 13 fund houses

Held by these funds

9.6%

of the company's equity

All mutual funds

9.23%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

61 schemes · 13 fund houses

		Shares
Smallcap Fund	SBI Mutual Fund	42 L	925.76	2.17%	5.06%	-0
Banking & Financial Services Fund	ICICI Prudential Mutual Fund	9 L	198.48	1.75%	1.085%	-0
Small Cap Fund	DSP Mutual Fund	8.1 L	178.64	0.82%	0.976%	-0
SMALL CAP FUND	Bank of India Mutual Fund	2.1 L	46.29	1.4%	0.253%	-0
NIFTY CAPITAL MARKETS INDEX FUND	Tata Mutual Fund	1.99 L	43.84	4.48%	0.24%	+7,465
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.71 L	37.79	3.27%	0.207%	-0
TRUSTMF Small Cap Fund	Trust Mutual Fund	1.53 L	33.72	0.98%	0.184%	-0
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	1.42 L	31.37	0.89%	0.171%	+1,740

1–8 of 61

1 / 8

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results9 Oct 2026 · in 8 daysresults

10

Final dividend15 May 2026 · ex-date₹7
Interim dividend17 Oct 2025 · ex-date₹6
Final dividend9 May 2025 · ex-date₹7
Interim dividend18 Oct 2024 · ex-date₹7
Final dividend3 Jun 2024 · ex-date₹9
Interim dividend20 Oct 2023 · ex-date₹5
Final dividend29 May 2023 · ex-date₹7
Interim dividend20 Oct 2022 · ex-date₹5
Final dividend2 Aug 2022 · ex-date₹6
Interim dividend19 Jan 2022 · ex-date₹5

1

Board meeting to consider results9 Oct 2026

1–3 of 4

1 / 2

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

171 announcementsExport CSV

30 Sept 2026, 4:58 pmBoard Meeting

Board Meeting Intimation for Quarterly Results

Exchange filing PDF

16 Sept 2026, 2:25 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

14 Sept 2026, 4:46 pmCompany Update

Announcement Under Regulation 30(LODR) - Intimation Of Receipt Of Certificate Of Registration By Anand Rathi FME (IFSC) Private Limited

General PDF

2 Sept 2026, 4:45 pmCompany Update

Announcement under Regulation 30 (LODR)-Updates on Acquisition

Acquisition PDF

10 Aug 2026, 10:52 amInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

10 Aug 2026, 10:51 amInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

7 Aug 2026, 4:16 pmInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

16 Jul 2026, 11:08 amCompany Update

Announcement Under Regulation 30 (LODR) - Intimation Of Receipt Of In-Principle Approval From International Financial Services Centres Authority (IFSCA)

General PDF

Date	Category	Subject	Filing
30 Sept 2026, 4:58 pm	Board Meeting	Board Meeting Intimation for Quarterly Results	PDF
16 Sept 2026, 2:25 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
14 Sept 2026, 4:46 pm	Company Update General	Announcement Under Regulation 30(LODR) - Intimation Of Receipt Of Certificate Of Registration By Anand Rathi FME (IFSC) Private Limited	PDF
2 Sept 2026, 4:45 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Updates on Acquisition	PDF
10 Aug 2026, 10:52 am	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
10 Aug 2026, 10:51 am	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
7 Aug 2026, 4:16 pm	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
16 Jul 2026, 11:08 am	Company Update General	Announcement Under Regulation 30 (LODR) - Intimation Of Receipt Of In-Principle Approval From International Financial Services Centres Authority (IFSCA)	PDF

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Anand Rathi Wealth Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

28

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

1

10

1

Announcements

3

28

Announcements

Annual reports

Investor Presentation and earnings call

1

10

1

Compounded sales growth

Compounded profit growth

Return on equity

Anand Rathi Wealth Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain28

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Upcoming and recent1

Dividends10

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain28

Announcements

Annual reports

Investor Presentation and earnings call

Upcoming and recent1

Dividends10

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

28

1

10

1

3

28

1

10

1