Anand Rathi Wealth (ANANDRATHI) Q2 25/26 earnings summary

Executive summary

• Achieved 16 consecutive quarters of consistent performance, with AUM rising to INR 91,901.6 crore as of September 2025, more than doubling since IPO and up 22% YoY.

• Added over 1,800 net new families in the last 12 months, bringing total clients to 12,781, with a growing share of HNIs and ultra-HNIs.

• Board approved unaudited financial results for Q2 and H1 FY26, declared an interim dividend of INR 6 per share, and issued bonus shares in March 2025.

• Incorporated a subsidiary in GIFT City, Gujarat, and expanded internationally with applications for Bahrain and UK licenses.

• Appointment of Mr. Pravin Jogani as Company Secretary and Compliance Officer effective October 13, 2025.

Financial highlights

• Q2FY26 consolidated revenue rose 23% YoY to INR 307 crore; PAT up 31% YoY to INR 99.89 crore; H1FY26 revenue grew 19% YoY to INR 591 crore; PAT up 29% YoY to INR 194 crore.

• PAT margin improved to 32.5% in Q2FY26 and 32.8% in H1FY26.

• EPS for Q2FY26: INR 12.03; H1FY26: INR 23.34, adjusted for bonus issue.

• Achieved 50.3% of full-year revenue and 52% of PAT guidance in H1FY26.

• ROE at 45.5% annualized for H1FY26.

Outlook and guidance

• Retains aspirational AUM guidance of INR 1 lakh crore by March 2026, with AUM at 91.6% of target by September 2025.

• Maintains 25% growth target, expecting normalization to 20-25% as base increases.

• Expects Nifty to deliver above-median returns over the next three years with negligible risk of catastrophic fall.

• Plans for 18-19% revenue growth over five years and INR 125,000 crore mark-to-market gain for clients.

• Focus on expanding wallet share, adding new relationship managers, and growing client base.