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

Executive summary

• Consolidated total revenues for H1 FY2025 grew 35% year-over-year to ₹495 crores, with profit after tax also up 35% to ₹150 crores.

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

• Interim dividend of ₹7 per equity share declared for FY2025.

• Net flows for H1 FY2025 grew 128% year-over-year to ₹5,700 crores; equity mutual fund net inflows up 64% to ₹3,116 crores.

• Added 1,066 new client families in H1 FY2025, bringing total clients to 10,977; client attrition rate at 0.28%.

Financial highlights

• Q2 FY2025 consolidated revenue was ₹250 crores, up 32% year-over-year; PAT at ₹76 crores, also up 32%.

• H1 FY2025 trail revenue was ₹195 crores, up 70% year-over-year.

• PAT margin for Q2 FY2025 was 30.6%, and for H1 FY2025 was 30.2%.

• Basic EPS for Q2 FY2025 was ₹18.3, up from ₹13.8 in Q2 FY2024.

• Return on Equity (ROE) for H1 FY2025 stood at 44.4%.

Outlook and guidance

• FY2025 revenue guidance raised to ₹980 crores and PAT to ₹280-295 crores; AUM target increased to ₹80,000 crores.

• Achieved 54% of revised revenue and 53% of PAT guidance in H1 FY2025.

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