Anand Rathi Wealth (ANANDRATHI) Q2 24/25 earnings summary

Executive summary

• Consolidated total revenues for H1 FY25 grew 35% year-over-year to ₹495 crores, with PAT up 35% to ₹150 crores; Q2 FY25 also saw revenue and PAT growth exceeding 30% year-over-year.

• AUM reached ₹75,084 crores as of September 2024, up 57% year-over-year, surpassing previous guidance; active client families exceeded 10,900.

• Interim dividend of ₹7 per equity share declared for FY25.

• Added 1,066 new client families in H1 FY25, bringing total clients to 10,977; client attrition rate was 0.28%.

• 52,020 equity shares allotted under Employee Stock Options during the six months ended September 30, 2024.

Financial highlights

• Q2 FY25 consolidated revenue was ₹249.6 crores, up 32% year-over-year; PAT for Q2 was ₹76.3 crores, up 32%.

• H1 FY25 revenue was ₹495.1 crores, up 35% year-over-year; PAT was ₹149.8 crores, up 35%.

• PAT margin for Q2 FY25 was 30.6%; for H1 FY25, PAT margin was 30.2%.

• Basic EPS for Q2 FY25 was ₹18.32, up from ₹13.83 in Q2 FY24.

• Cash and cash equivalents as of September 30, 2024, stood at ₹11,891.67 lakhs.

Outlook and guidance

• Revenue guidance for FY25 increased to ₹980 crores; PAT guidance revised to ₹280-295 crores; AUM target raised to ₹80,000 crores.

• Achieved 54% of revised revenue and 53% of PAT guidance in H1 FY25.

• Management maintains a conservative approach to guidance, aiming to undercommit and overdeliver.