| Revenue growth | 22.4% YoY growth driven by broking and non-broking segments. |
|---|---|
| Margins | EBITDA Margin improved to 39.5% from 37.2% YoY. |
| Order book | MTF book grew 54.6% YoY to ₹13,318.46 Mn. |
| Demand visibility | Strong, driven by a mature client base and Pan-India presence. |
| Management confidence | High, citing steady increase in non-broking segment shares. |
Growth
Revenue reached ₹2,461 Mn (+22.4% YoY); EBITDA grew 30.2% to ₹973 Mn; PAT (before exceptional items) surged 71.2%.
Outlook
Focus on Tier 2/3 city expansion and increasing the share of non-broking revenue via MTF and distribution products.
Risks
Potential market volatility affecting Assets under Custody (AUC) and MTF book performance; dependency on individual client investible corpuses.
Last quarter's promises, checked
Delivered
- Guided 50-50 broking/non-broking mix → delivered 51/49 (= BEAT)
- Guided zero NPA in MTF book → delivered zero NPA (= BEAT)
- Guided debt equity ratio reduction to max 1.5 → delivered 0.62 (= BEAT)
Partly delivered
- Guided 15-20% revenue growth → delivered 10.2% for FY26 (= PARTIAL)
Missed
- Guided MTF book size of ₹15,000 Mn → delivered ₹11,019 Mn (= MISS)
Earnings Call filed with BSE, NSE: ARSSBL. Summary written with AI assistance from the document.
Anand Rathi Share & Stock Brokers Ltd: key numbers
- Share price
- ₹568.70
- Market cap
- ₹3,587 Cr
- Revenue (annual)
- ₹932.2 Cr
- Net profit (annual)
- ₹129.3 Cr
- P/E (TTM)
- 27.6×Sector 21.9×
- Promoter holding
- 69.62%-0.30% QoQ
- FII holding
- 0.15%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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