Arthneeti

Anand Rathi Share & Stock Brokers Q2 FY27 Share Price & Earnings Call Analysis

₹507.95+0.16% today
Market cap
₹3,211 Cr
P/E
19.91
ROE
14.17%
PEG
0.40
Price to sales
3.14
Debt to equity
1.02
52W high / low
₹774 / ₹418
Sales growth (5Y)
25.22%
EBITDA margin
40.14%
Net profit margin
14.15%
Promoter holding
69.57%
Sales (last year)
₹1,022 Cr

Incorporated in 1991, Anand Rathi Share and Stock Brokers Limited is a Full-Service broking company.[1]

Guidance scorecard · Q2 FY27 call

What Anand Rathi Shar's management guided
and where it ranks in Capital Markets

Revenue10–20%MarginsFlatCapexWhat management saidFundraisingWhat management saidOrder bookWhat management said

RevenueQ2 FY27 call

10–20%
  • Anand Rathi aims for a 15% to 20% growth in broking business revenue.
  • Non-broking segment is targeted to grow at a faster pace of 30% to 40%.
  • The company targets an MTF (Margin Trading Facility) book size of INR 1,750 to 1,800 crores by FY27.
  • Distribution AUM expected to grow by about 40% by the end of the current financial year.
  • Continued focus on deepening client relationships and increasing product penetration.
  • Emphasis on building recurring revenue streams to reduce volatility.
  • Company expects steady growth stemming from both broking and non-broking business verticals.

2 more points from Anand Rathi Shar's call on revenue

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Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

See what Anand Rathi Shar said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

  • They are strengthening the product team and expanding the RM (Relationship Manager) base, which implies investment in human capital.
  • There is emphasis on technology and digital platform investments, contributing 36% of brokerage income, implying ongoing tech-related investments.
Full Q2 FY27 analysis

FundraisingQ2 FY27 call

See what Anand Rathi Shar said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Ask what Anand Rathi Shar said on the order book →

Full Q2 FY27 analysis
Full Capital Markets ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Capital Markets
on management's own guidance

  1. Motilal Oswal Financial ServicesGood growth
    2
  2. BSEGood growth
    1
  3. Anand Rathi WealthGood growth
    3
See all potential multibaggersWhere does Anand Rathi Shar rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Anand Rathi Share & Stock Brokers latest results (Sep 2026)

Revenue

₹273 Cr

+20% YoY

Net profit

₹42 Cr

+45% YoY

Operating margin

37%

EPS

₹6.71

What management said on the call →

Anand Rathi Share & Stock Brokers shareholding (Sep 2026)

Promoters

69.57%

−0.05 pp QoQ

FIIs

0.31%

+0.16 pp QoQ

DIIs

3.62%

−0.44 pp QoQ

Public

26.49%

+0.32 pp QoQ

Full shareholding pattern →Dividend history →

Peers

Capital Markets companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1BSE20–40%Flat₹1.56L Cr50.5
2Motilal Oswal Financial Services20–40%Flat₹69,075 Cr25.6
3Anand Rathi Wealth20–40%Flat₹39,414 Cr86.9
420–40%Flat₹34,146 Cr30.2
520–40%Flat₹4,244 Cr11.4
620–40%Flat₹1,001 Cr29.6

Sign up free to see every company in the sector ranking and track Anand Rathi Shar.

Pro shows every company guiding 40%+ revenue growth →Full Capital Markets ranking

Financials of Anand Rathi Shar

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Anand Rathi Shar

Shareholding breakup across reporting periods.

Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +69.90%69.91%69.92%69.62%69.57%
FIIs +2.83%1.91%0.82%0.15%0.31%
DIIs +9.42%6.10%4.98%4.06%3.62%
Public +17.87%22.08%24.29%26.17%26.49%
No. of Shareholders1,79,11778,80980,45781,90077,839

Financials of Anand Rathi Shar

Quarterly Results

Quarter-by-quarter operating performance

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +211230204199201227248255246273
YoY Sales growth-5%-1%+22%+28%+22%+20%
Expenses +135144127126126134146145148173
Operating Profit76867773759310211197100
OPM %36%37%38%37%37%41%41%43%40%37%
Other Income +00001110-210
Interest30354339385046504038
Depreciation5668666756
Profit before tax41452826313851543257
Tax %25%27%25%28%25%25%25%23%25%25%
Net Profit +31332119232938422442
EPS in Rs6.937.474.804.205.274.566.046.693.736.71

Financials of Anand Rathi Shar

Profit & Loss

Annual income statement trend

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2463034234686818449311,022
Sales growth+23%+40%+11%+46%+24%+10%+23%
Expenses +201253309351450532550612
Operating Profit4449114116232311382410
OPM %18%16%27%25%34%37%41%40%
Other Income +4001112-19
Interest2721374997147184174
Depreciation1110131520252624
Profit before tax10196452117141174193
Tax %31%29%20%25%33%26%24%
Net Profit +713513979104132146
EPS in Rs2.344.5712.679.6717.7223.4121.0223.17
Dividend Payout %0%0%0%0%0%60%24%

Financials of Anand Rathi Shar

Balance Sheet

Capital structure and asset base

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital1010132022223132
Reserves1041182142473734841,3221,357
Borrowings +2331872764328889148401,412
Other Liabilities +8067138419311,3031,9244,9091,680
Total Liabilities1,1521,0271,3441,6302,5863,3447,1024,480
Fixed Assets +3936515674847784
CWIP50000000
Investments1291912164434
Other Assets +1,1089901,2841,5552,5003,2456,9814,362
Total Assets1,1521,0271,3441,6302,5863,3447,1024,480

Financials of Anand Rathi Shar

Cash Flows

Operating, investing and financing cash movement

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +22525-3915188674745
Cash from Investing Activity +168-242-74-139-598-577-1,149
Cash from Financing Activity +-92-65127109419-112462
Net Cash Flow301-28115-159-1659
Free Cash Flow24723-592150631727
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit508%51%-21%27%91%228%207%

Financials of Anand Rathi Shar

Ratios

Working capital efficiency and return ratios

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days490173122159132102123
Inventory Days
Days Payable
Cash Conversion Cycle490173122159132102123
Working Capital Days-478-347414-529-527-681-1,008
ROCE %12%25%17%22%21%20%

Guidance history

How Anand Rathi Shar's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY27 call →10–20%Flat———
Q1 FY27 call →10–20%FlatPlannedPlannedRising
Q4 FY26 call →10–20%Flat———
Q3 FY26 call →20–40%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

19out of 100

Momentum score · price trend

19 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,937 stocks
Last 12 months−24.2%23%
Last 6 months−3.4%39%
Last 3 months−0.0%59%

The price is 34.4% below its all-time high of ₹773.95 (18 Nov 2025). Stocks more than 20% below their peak have their score halved, so 37 became 19.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Anand Rathi Shar: 0.4 × 23 + 0.4 × 39 + 0.2 × 59 = 37, halved to 19 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Anand Rathi Share & Stock Brokers: frequently asked questions

What is Anand Rathi Share & Stock Brokers share price today?

Anand Rathi Share & Stock Brokers last traded at ₹507.95, with a market capitalisation of ₹3,211 Cr and a P/E ratio of 19.9.

What were Anand Rathi Share & Stock Brokers's latest quarterly results?

For the quarter ended Sep 2026, Anand Rathi Share & Stock Brokers reported revenue of ₹273 Cr (+20% year on year) and net profit of ₹42 Cr, with an operating margin of 37%.

Is Anand Rathi Share & Stock Brokers's profit growing?

Net profit was ₹42 Cr in Sep 2026 against ₹29 Cr in Sep 2025, a change of +45%.

What is Anand Rathi Share & Stock Brokers's EPS?

Anand Rathi Share & Stock Brokers's earnings per share for the quarter ended Sep 2026 was ₹6.71.

What is the promoter holding in Anand Rathi Share & Stock Brokers?

Promoters held 69.57% of Anand Rathi Share & Stock Brokers in Sep 2026 (−0.05 pp versus Jun 2026).

How much do FIIs and DIIs hold in Anand Rathi Share & Stock Brokers?

In Sep 2026, foreign institutional investors held 0.31% and domestic institutions (including mutual funds) held 3.62% of Anand Rathi Share & Stock Brokers.

What is Anand Rathi Share & Stock Brokers's ROE and ROCE?

Anand Rathi Share & Stock Brokers's return on equity is 14.2% and its return on capital employed is 19.8%.

Does Anand Rathi Share & Stock Brokers pay a dividend?

Yes. Anand Rathi Share & Stock Brokers's dividend yield is 1.03% at the current price. The full payout history is on the Anand Rathi Share & Stock Brokers dividends page.

Which sector does Anand Rathi Share & Stock Brokers belong to?

Anand Rathi Share & Stock Brokers is in the Capital Markets sector. Its peer comparison and sector ranking are on this page.

What did Anand Rathi Share & Stock Brokers's management say on the latest earnings call?

Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from Anand Rathi Share & Stock Brokers's management.

How does Arthneeti AI analyse Anand Rathi Share & Stock Brokers?

Arthneeti reads Anand Rathi Share & Stock Brokers's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.

Continue your research

What Anand Rathi Shar's management said in earlier quarters

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