Management guidance · Q1 FY27 call
Leading Capital Markets companies on guidance
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Anand Rathi Share & Stock Brokers Ltd
Quarter-by-quarter operating performance
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 211 | 230 | 204 | 199 | 201 | 227 | 248 | 255 |
| Expenses + | 135 | 144 | 127 | 126 | 126 | 134 | 146 | 145 |
| Operating Profit | 76 | 86 | 77 | 73 | 75 | 93 | 102 | 111 |
| OPM % | 36% | 37% | 38% | 37% | 37% | 41% | 41% | 43% |
| Other Income + | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Interest | 30 | 35 | 43 | 39 | 38 | 50 | 46 | 50 |
| Depreciation | 5 | 6 | 6 | 8 | 6 | 6 | 6 | 7 |
| Profit before tax | 41 | 45 | 28 | 26 | 31 | 38 | 51 | 54 |
| Tax % | 25% | 27% | 25% | 28% | 25% | 25% | 25% | 23% |
| Net Profit + | 31 | 33 | 21 | 19 | 23 | 29 | 38 | 42 |
| EPS in Rs | 6.93 | 7.47 | 4.80 | 4.20 | 5.27 | 4.56 | 6.04 | 6.69 |
Financials of Anand Rathi Share & Stock Brokers Ltd
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 246 | 303 | 423 | 468 | 681 | 844 | 931 |
| Expenses + | 201 | 253 | 309 | 351 | 450 | 532 | 550 |
| Operating Profit | 44 | 49 | 114 | 116 | 232 | 311 | 382 |
| OPM % | 18% | 16% | 27% | 25% | 34% | 37% | 41% |
| Other Income + | 4 | 0 | 0 | 1 | 1 | 1 | 2 |
| Interest | 27 | 21 | 37 | 49 | 97 | 147 | 184 |
| Depreciation | 11 | 10 | 13 | 15 | 20 | 25 | 26 |
| Profit before tax | 10 | 19 | 64 | 52 | 117 | 141 | 174 |
| Tax % | 31% | 29% | 20% | 25% | 33% | 26% | 24% |
| Net Profit + | 7 | 13 | 51 | 39 | 79 | 104 | 132 |
| EPS in Rs | 7.03 | 13.71 | 38.08 | 19.32 | 17.72 | 23.41 | 21.02 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 60% | 24% |
Financials of Anand Rathi Share & Stock Brokers Ltd
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 13 | 20 | 22 | 22 | 31 |
| Reserves | 104 | 118 | 214 | 247 | 373 | 484 | 1,322 |
| Borrowings + | 233 | 187 | 276 | 432 | 888 | 914 | 840 |
| Other Liabilities + | 806 | 713 | 841 | 931 | 1,303 | 1,924 | 4,909 |
| Total Liabilities | 1,152 | 1,027 | 1,344 | 1,630 | 2,586 | 3,344 | 7,102 |
| Fixed Assets + | 39 | 36 | 51 | 56 | 74 | 84 | 77 |
| CWIP | 5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 2 | 9 | 19 | 12 | 16 | 44 |
| Other Assets + | 1,108 | 990 | 1,284 | 1,555 | 2,500 | 3,245 | 6,981 |
| Total Assets | 1,152 | 1,027 | 1,344 | 1,630 | 2,586 | 3,344 | 7,102 |
Financials of Anand Rathi Share & Stock Brokers Ltd
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 225 | 25 | -39 | 15 | 188 | 674 | 745 |
| Cash from Investing Activity + | 168 | -242 | -74 | -139 | -598 | -577 | -1,149 |
| Cash from Financing Activity + | -92 | -65 | 127 | 109 | 419 | -112 | 462 |
| Net Cash Flow | 301 | -281 | 15 | -15 | 9 | -16 | 59 |
| Free Cash Flow | 247 | 23 | -59 | 2 | 150 | 631 | 727 |
| CFO/OP | 508% | 51% | -21% | 27% | 91% | 228% | 207% |
Financials of Anand Rathi Share & Stock Brokers Ltd
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 490 | 173 | 122 | 159 | 132 | 110 | 123 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 490 | 173 | 122 | 159 | 132 | 110 | 123 |
| Working Capital Days | -478 | -347 | 414 | -529 | -527 | -681 | -1,008 |
| ROCE % | 12% | 25% | 17% | 22% | 21% | 20% |
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