Anand Rathi Wealth (ANANDRATHI) Q3 24/25 earnings summary

Executive summary

• Consolidated total revenues for 9M FY25 grew 33% YoY to ₹739 crores, with PAT up 34% YoY to ₹227 crores, achieving 75% of revised revenue and 77% of PAT guidance for the year.

• Total AUM rose 39% YoY to ₹76,402 crores; net flows for 9M FY25 grew 69% YoY to ₹9,145 crores, with equity mutual fund net flows up 51% YoY to ₹5,831 crores.

• Maintained high PAT margins above 30% and delivered consistent shareholder rewards through dividends, buybacks, and bonus shares.

• Consistent performance highlighted by a mean quarterly YoY growth of 33.8% over 11 quarters, with a low standard deviation of 4.3%.

• Unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2024, were reviewed and approved by the Board and Audit Committee on January 13, 2025.

Financial highlights

• Q3 FY25 consolidated revenue was ₹244 crores, up 30% YoY; PAT for Q3 FY25 was ₹77 crores, up 33% YoY, with a PAT margin of 31.7%.

• 9M FY25 revenue was ₹739 crores (up 33% YoY); mutual fund distribution revenue grew 63% YoY to ₹303 crores.

• AUM reached ₹76,402 crores, up 38.8% year-over-year.

• Basic and diluted EPS (consolidated) for Q3 FY25 stood at ₹18.58, up from ₹13.91 in Q3 FY24; nine-month EPS was ₹54.57, up from ₹40.50 year-over-year.

• Consolidated net profit after tax for Q3 FY25 was ₹7,730.12 lakhs, compared to ₹5,804.34 lakhs in Q3 FY24; nine-month net profit was ₹22,705.40 lakhs, up from ₹16,896.13 lakhs year-over-year.

Outlook and guidance

• Achieved 75% of revised revenue and 77% of PAT guidance for FY25 in the first nine months.

• AUM at 96% of FY25 guidance, indicating strong momentum.

• Management aspires to reach a 4% market share in Indian mutual funds over the next decade, with a focus on consistent net flow growth.

• Plans to expand internationally, with a subsidiary in the UK being set up following success in Dubai.