Anant Raj Limited (ANANTRAJ)

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Anant Raj Limited (ANANTRAJ) · mywealthgrid

About

Anant Raj Limited develops residential and commercial real estate projects in the consumer discretionary segment. With market cap ₹22,671.9 Cr and operating margins averaging 26.11%, the company operates at mid-cap scale with a track record of annual dividend payouts from 2022 onwards, indicating reliable cash generation from project execution.

Face value: ₹2

Market cap

₹20,797 Cr

P/E

35.9×

P/B

3.6×

Dividend yield

0.2%

ROE

11.2%

ROCE

12%

Debt / equity

0.1

OPM

26.1%

EPS (TTM)

₹16.1

Book value

₹160.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High valuation: PE of 39.18 prices in significant future earnings growth — limited room for execution shortfalls

Revenue lumpy: Quarterly standalone revenue ranges ₹370–646 Cr, creating earnings unpredictability tied to project completion cycles

Execution variability: Operating margins range 19.86%–29.04% across recent quarters — verify consistency of underlying drivers

Sector cyclicality: Real estate is sensitive to interest rates, regulatory approval timelines, and discretionary spending — verify current financing and regulatory environment

Generated analysis · source review pending

Growth drivers

Margin expansion: Operating margin improved from 19.86% (Dec 2025) to 29.04% (Jun 2026), signaling improving project execution or mix if sustained

Balance-sheet runway: Debt-to-equity of 0.1 is conservative, enabling capex for land acquisition and project launches without material leverage

Dividend consistency: Five annual dividend payouts from 2022–2026 evidence cash conversion from completed projects — verify pipeline sustains distributions

Sector momentum: 1-year return of 15.25% and price recovery from ₹405.7–₹735.6 range reflect market recovery; verify pre-sales and order inflows confirming momentum

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹577.9-4.1%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 26.1%
+Profit CAGR of 112.6% over the last 5 years
+Revenue CAGR of 58.7% over the last 5 years
+Comfortable interest coverage of 54.6×

Cons

−Low return on equity of 10% (3-yr avg)
−Low dividend payout of 6.2% of profit
−Promoter holding fell 2.7 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

59/100

Business quality: 63
Growth: 76

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 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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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 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	500	276	250	462	957	1,483	2,060	2,512
COGS	315	180	178	347	710	1,080	1,483	1,755
Gross profit	185	96	71	115	247	403	577	756
	39	34	25	33	44	68	81	97
	145	63	46	82	204	335	496	659
OPM %	29.1%	22.7%	18.3%	17.8%	21.3%	22.6%	24.1%	26.2%
Depreciation	26	18	17	17	17	18	30	49
Interest	63	15	31	27	32	35	11	12
	24	9	20	39	48	37	40	67
Profit before tax	81	39	18	78	203	320	495	665
Tax	14	12	7	23	52	54	69	108
Tax %	17.6%	31.4%	41%	29.6%	25.7%	16.9%	13.9%	16.3%
	66	27	11	55	151	266	426	557
PAT margin %	13.3%	9.7%	4.3%	11.9%	15.8%	17.9%	20.7%	22.2%
EPS (₹)	2.3	1	0.4	1.9	4.7	8	12.4	15.8
EPS adjusted (₹)	2.3	1	0.4	1.9	4.7	7.6	12.4	15.4
	10.3%	8.2%	23.3%	6.3%	10.6%	9.2%	5.9%	6.3%
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	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 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	59	59	59	59	59	59	59	65	68	69	72
Reserves	4,000	4,187	4,128	2,442	2,426	2,440	2,580	2,760	3,588	4,092	5,717
Minority interest	—	—	—	—	39	37	35	33	28	28	30
	935	1,393	2,159	1,321	1,385	1,499	968	933	627	467	606
	977	1,053	1,128	780	678	575	742	566	557	579	444
Total equity & liabilities	5,971	6,692	7,473	4,602	4,588	4,611	4,385	4,358	4,868	5,235	6,869
	381	387	557	39	43	43	40	49	71	116	438
CWIP	169	145	192	146	140	90	48	77	22	36	39
Investments	573	653	594	402	1,760	1,706	1,730	1,716	1,545	1,562	1,538
	4,848	5,508	6,131	4,015	2,645	2,772	2,567	2,515	3,231	3,520	4,853
Total assets	5,971	6,692	7,473	4,602	4,588	4,611	4,385	4,358	4,868	5,235	6,869

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	36.9%	34.9%	28.5%	24.9%	25.8%	27.2%	28%	30.1%
EBITDA margin %	26.4%	19.1%	14.2%	16.4%	20.6%	22.5%	23.9%	26.1%
EBIT margin %	21.3%	12.7%	7.3%	12.8%	18.9%	21.3%	22.4%	24.2%
PAT margin %	13.3%	9.7%	4.3%	11.9%	15.8%	17.9%	20.7%	22.2%
Working capital
Receivable days	54	95	64	17	20	25	22	26
Inventory days	1,113	2,819	2,980	1,194	616	479	283	220
Payable days	5	4	14	6	7	6	5	9
NWC days	1,162	2,910	3,030	1,205	628	497	301	236
Leverage
Current ratio	2.8	2.94	4.42	3.5	5.7	5.9	5.43	9.75
Debt to EBITDA	9.99	26.25	42.37	12.76	4.74	1.88	0.95	0.92
Debt to equity	0.53	0.56	0.6	0.37	0.33	0.17	0.11	0.1
Interest coverage	2.1	2.9	1.2	3.6	7.2	10.2	45.6	54.6
Asset turnover	0.11	0.06	0.05	0.11	0.22	0.3	0.39	0.37
Return ratios
Return on assets %	1.4%	0.6%	0.2%	1.3%	3.5%	5.5%	8.1%	8.1%
Return on capital employed %	3.5%	1.2%	1%	2.5%	5.9%	8.4%	11%	12%
Return on equity %	2.7%	1.1%	0.4%	2.1%	5.3%	7.3%	10.2%	9.6%

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
	63.31%	63.3%	60%	60%	60%	60%	60.16%	60.12%	60.12%	57.41%	57.41%	57.42%
	9.51%	8.96%	11.53%	13.11%	13.04%	13.07%	12.88%	10.61%	10.72%	11.14%	10.88%	10.74%
	1.66%	1.59%	3.65%	6.52%	6.7%	6.71%	6.57%	6.22%	5.82%	5.2%	4.83%	4.61%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.52%	26.15%	24.82%	20.37%	20.26%	20.22%	20.39%	23.05%	23.34%	26.25%	26.88%	27.23%
No. of shareholders	—	—	—	—	—	—	—	—	2,91,165	3,35,175	3,68,350	3,75,155

Promoter holding down 5.89 percentage points since Sep 2023.

13 deals · 11 Oct 2023 – 1 Feb 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
1 Feb 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	19,24,154	₹543.12	₹104.50 Cr
1 Feb 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	19,12,421	₹542.47	₹103.74 Cr
16 Oct 2025	GOLDMAN SACHS BANK EUROPESE - ODI	Block	NSE	Buy	1,71,094	₹637.50	₹10.91 Cr
16 Oct 2025	GOLDMAN SACHS (SINGAPORE) PTE.- ODI	Block	NSE	Sell	1,71,094	₹637.50	₹10.91 Cr
24 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	21,42,220	₹690.57	₹147.94 Cr
24 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	21,40,189	₹690.29	₹147.74 Cr
22 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	23,11,298	₹674.45	₹155.89 Cr
22 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	23,08,591	₹674.74	₹155.77 Cr
15 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	23,23,852	₹585.21	₹135.99 Cr
15 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	23,23,852	₹584.89	₹135.92 Cr

1–10 of 13

1 / 2

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. Amit SarinExecutive Director-Chairperson-MD
Mr. Aman SarinExecutive Director-CEO
Mr. Ashim SarinExecutive Director
Mr. Anish SarinExecutive Director
Mr. Veerayya Chowdary KosarajuNon-Executive - Independent Director
Mr. Rajendra Prasad SharmaNon-Executive - Independent Director
Mr. Rajesh TutejaNon-Executive - Independent Director
Mrs. Kulpreet SondNon-Executive - Independent Director
Mr. Pankaj Kumar GuptaChief Financial Officer
Mr. Neeraj KumarCompany 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.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

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

Portfolio month

Schemes holding

across 10 fund houses

Held by these funds

2.65%

of the company's equity

All mutual funds

3.04%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

34 schemes · 10 fund houses

		Shares
SMALL CAP FUND	Tata Mutual Fund	41 L	247.6	1.89%	1.139%	-0
Small Cap Fund	Axis Mutual Fund	26.42 L	159.56	0.51%	0.734%	-0
ELSS - TAX SAVER FUNDNEW	Tata Mutual Fund	10.14 L	61.21	1.29%	0.282%	—
(LIVE SCHEMES)	ITI Mutual Fund	5.84 L	35.28	0.98%	0.162%	-27,807
(LIVE SCHEMES)	ITI Mutual Fund	2.9 L	17.5	2.78%	0.081%	-35,439
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	2.43 L	14.69	0.42%	0.068%	+2,974
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.86 L	11.24	4.12%	0.052%	+7,761
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	1.24 L	7.47	0.42%	0.034%	+1,383

1–8 of 34

1 / 5

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Documents

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

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Nov 2025Transcript AI Summary PPTREC

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

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Events

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

1

Board meeting to consider results28 Oct 2026 · in 27 daysresults

19

Final dividend31 Jul 2026 · ex-date₹1
Final dividend16 Jul 2025 · ex-date₹0.73
Final dividend12 Jul 2024 · ex-date₹0.73
Final dividend27 Jun 2023 · ex-date₹0.5
Final dividend1 Jul 2022 · ex-date₹0.12
Final dividend22 Sept 2021 · ex-date₹0.1
Dividend dividend22 Dec 2020 · ex-date₹0.08
Final dividend20 Sept 2019 · ex-date₹0.24
Dividend dividend19 Sept 2018 · ex-date₹0.24
Dividend dividend21 Sept 2017 · ex-date₹0.24
Dividend dividend22 Sept 2016 · ex-date₹0.24
Dividend dividend22 Sept 2015 · ex-date₹0.24
Dividend dividend18 Sept 2014 · ex-date₹0.24
Dividend dividend12 Sept 2012 · ex-date₹0.4
Dividend dividend9 Aug 2011 · ex-date₹0.6
Dividend dividend8 Jul 2010 · ex-date₹0.6
Dividend dividend7 Aug 2009 · ex-date₹0.6
Dividend dividend14 Jul 2008 · ex-date₹1.5
Interim dividend9 Aug 2007 · ex-date₹6

2

Board meeting to consider results28 Oct 2026
Board meeting to consider results8 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

28 announcementsExport CSV

30 Sept 2026, 6:01 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	36.9%	34.9%	28.5%	24.9%	25.8%	27.2%	28%	30.1%
EBITDA margin %	26.4%	19.1%	14.2%	16.4%	20.6%	22.5%	23.9%	26.1%
EBIT margin %	21.3%	12.7%	7.3%	12.8%	18.9%	21.3%	22.4%	24.2%
PAT margin %	13.3%	9.7%	4.3%	11.9%	15.8%	17.9%	20.7%	22.2%
Working capital
Receivable days	54	95	64	17	20	25	22	26
Inventory days	1,113	2,819	2,980	1,194	616	479	283	220
Payable days	5	4	14	6	7	6	5	9
NWC days	1,162	2,910	3,030	1,205	628	497	301	236
Leverage
Current ratio	2.8	2.94	4.42	3.5	5.7	5.9	5.43	9.75
Debt to EBITDA	9.99	26.25	42.37	12.76	4.74	1.88	0.95	0.92
Debt to equity	0.53	0.56	0.6	0.37	0.33	0.17	0.11	0.1
Interest coverage	2.1	2.9	1.2	3.6	7.2	10.2	45.6	54.6
Asset turnover	0.11	0.06	0.05	0.11	0.22	0.3	0.39	0.37
Return ratios
Return on assets %	1.4%	0.6%	0.2%	1.3%	3.5%	5.5%	8.1%	8.1%
Return on capital employed %	3.5%	1.2%	1%	2.5%	5.9%	8.4%	11%	12%
Return on equity %	2.7%	1.1%	0.4%	2.1%	5.3%	7.3%	10.2%	9.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

Date	Category	Subject	Filing
30 Sept 2026, 6:01 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
30 Sept 2026, 5:59 pm	Board Meeting	Board Meeting Intimation for Financial Results	PDF
15 Sept 2026, 5:47 pm	Company Update General	Announcement Under Regulation 30 (LODR) - Analyst/Investor Meet-Intimation	PDF
8 Sept 2026, 1:02 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
4 Sept 2026, 12:33 pm	Company Update General	Clarification	PDF
4 Sept 2026, 11:47 am	Company Update Clarification	Clarification sought from Anant Raj Ltd	—
20 Aug 2026, 6:23 pm	Company Update General	Announcement Under Regulation 30 (LODR)-Receipt Of RERA Registration Certificate	PDF
19 Aug 2026, 12:41 pm	Company Update General	Analyst/Investor Meet - Intimation (Non-Deal Roadshow)	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-73	-127	-305	810	-84	-130	458	-6	24	97	-435
	-50	-33	-229	1,707	-5	65	-4	50	132	-72	-231
	109	193	675	-2,679	43	83	-461	-29	115	1	1,235
Net cash flow	-14	33	141	-162	-46	18	-7	15	271	25	569
Free cash flow	-99	-161	-309	988	-88	-134	457	-19	-17	47	-577
CFO / Operating profit %	—	—	—	612.6%	-159%	-366.3%	603.8%	-3.2%	7.2%	19.7%	-66.3%

Anant Raj Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

1

19

2

Announcements

1

19

2

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Anant Raj Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Upcoming and recent1

Dividends19

Board meetings2

Announcements

Upcoming and recent1

Dividends19

Board meetings2

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

19

2

1

19

2