Anand Rathi Wealth (ANANDRATHI) investor relations material

Executive summary

• Adjusted H1 FY27 revenue rose 17.2% to INR 693.0 crore and PAT grew 22.8% to INR 237.8 crore; AUM reached INR 1,08,377 crore, up 18.4%.

• Q2 total net inflows were INR 6,825 crore versus INR 3,002 crore a year earlier; equity mutual fund net inflows reached INR 4,186 crore versus INR 2,062 crore.

• Private wealth priorities include client outcomes, wallet penetration, relationship-manager capacity utilization and capacity building.

Financial highlights

• Adjusted Q2 FY27 total revenue was INR 356.6 crore, up 16.1%; PBT rose 21.7% to INR 163.1 crore and PAT increased 22.2% to INR 121.9 crore.

• Adjusted H1 FY27 PBT rose 22.7% to INR 319.4 crore; PAT margin expanded to 34.3% from 32.8%.

• Consolidated Q2 revenue from operations was INR 343.99 crore versus INR 297.37 crore; net profit was INR 89.26 crore versus INR 99.90 crore.

• Consolidated H1 revenue from operations was INR 665.97 crore and net profit INR 252.27 crore, versus INR 571.38 crore and INR 193.61 crore, respectively.

• Q2 non-cash charges were INR 46 crore versus zero a year earlier; management expects ESOP costs to decline substantially next year.

Outlook and guidance

• FY27 guidance remains revenue of INR 1,415 crore and PAT of INR 460 crore; H1 achieved 49% and 52% of those targets, respectively.

• FY27 AUM target is INR 1,20,000 crore; management aims for INR 3,000-4,000 crore net flows in each of the next two quarters.

• AUM targets are market-sensitive, with external variables and single-day measurement dates contributing to volatility; GIFT City revenue is excluded from current guidance.