Arihant Capital Markets Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹945 Cr
- P/E
- 19.75
- ROE
- 7.67%
- PEG
- 6.33
- Price to sales
- 3.76
- Debt to equity
- 0.56
- 52W high / low
- ₹103 / ₹58.2
- Sales growth (5Y)
- 12.14%
- EBITDA margin
- 36.91%
- Net profit margin
- 15.38%
- Promoter holding
- 67.67%
- Sales (last year)
- ₹252 Cr
Incorporated in 1992, Arihant Capital Markets Ltd provides Stock & Commodities Broking, PMS, Financial Services, Real Estate, Insurance Broking and other related activities[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Capital Markets
on management's own guidance
- Nippon Life India Asset Management LtdGood growth2
- BSEGood growth1
- Motilal Oswal Financial Services LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Capital Markets companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | BSE | 20–40% | Flat | ₹1.43L Cr | 50.6 |
| 2 | Nippon Life India Asset Management Ltd | 20–40% | Flat | ₹57,947 Cr | 35.4 |
| 3 | Motilal Oswal Financial Services Ltd | 20–40% | Flat | ₹56,798 Cr | 28.7 |
| 4 | 20–40% | Flat | ₹37,393 Cr | 82.4 | |
| 5 | 20–40% | Flat | ₹32,034 Cr | 29.6 | |
| 6 | 20–40% | Flat | ₹14,710 Cr | 41.2 |
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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets rankingFinancials of Arihant Capital
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Arihant Capital
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 70.18% | 69.81% | 69.81% | 69.81% | 69.81% | 69.81% | 69.81% | 69.81% | 67.67% | 67.68% | 67.68% | 67.68% |
| FIIs + | 0.06% | 0.18% | 0.17% | 0.68% | 0.51% | 0.09% | 0.03% | 0.22% | 0.04% | 0.05% | 0.03% | 0.10% |
| DIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.02% | 0.03% | 0.02% |
| Public + | 29.76% | 30.00% | 30.01% | 29.49% | 29.68% | 30.10% | 30.16% | 29.97% | 32.27% | 32.24% | 32.24% | 32.20% |
| No. of Shareholders | 14,753 | 18,099 | 22,030 | 26,637 | 28,725 | 29,259 | 28,520 | 24,874 | 32,586 | 30,812 | 30,214 | 28,732 |
Financials of Arihant Capital
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 56 | 73 | 64 | 73 | 76 | 52 | 46 | 51 | 57 | 49 | 49 | 78 | 76 |
| Expenses + | 35 | 43 | 27 | 43 | 46 | 35 | 31 | 30 | 33 | 35 | 41 | 43 | 40 |
| Operating Profit | 21 | 29 | 37 | 30 | 31 | 17 | 15 | 20 | 24 | 14 | 8 | 35 | 36 |
| OPM % | 38% | 41% | 58% | 41% | 40% | 32% | 32% | 40% | 42% | 28% | 16% | 45% | 47% |
| Other Income + | 0 | 1 | 0 | 1 | 1 | 5 | 0 | 1 | 0 | 0 | -0 | 1 | 1 |
| Interest | 2 | 4 | 4 | 5 | 6 | 5 | 4 | 4 | 6 | 6 | 5 | 7 | 7 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 19 | 26 | 33 | 25 | 25 | 16 | 11 | 16 | 17 | 7 | 2 | 28 | 28 |
| Tax % | 23% | 24% | 24% | 25% | 21% | 25% | 27% | 22% | 23% | 27% | 67% | 24% | 25% |
| Net Profit + | 15 | 20 | 25 | 19 | 20 | 12 | 8 | 13 | 13 | 5 | 0 | 21 | 21 |
| EPS in Rs | 1.41 | 1.88 | 2.37 | 1.81 | 1.92 | 1.18 | 0.74 | 1.22 | 1.25 | 0.47 | 0.05 | 1.96 | 1.91 |
Financials of Arihant Capital
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 62 | 56 | 87 | 102 | 93 | 91 | 116 | 170 | 138 | 235 | 247 | 206 | 252 |
| Expenses + | 41 | 39 | 48 | 58 | 58 | 58 | 67 | 97 | 86 | 128 | 152 | 137 | 159 |
| Operating Profit | 20 | 17 | 39 | 44 | 35 | 33 | 49 | 73 | 51 | 107 | 95 | 69 | 93 |
| OPM % | 33% | 30% | 45% | 43% | 38% | 36% | 42% | 43% | 37% | 45% | 38% | 34% | 37% |
| Other Income + | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 3 | 7 | 1 | 2 |
| Interest | 3 | 3 | 13 | 14 | 11 | 9 | 4 | 7 | 11 | 14 | 22 | 24 | 26 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 4 |
| Profit before tax | 16 | 13 | 25 | 30 | 24 | 23 | 44 | 65 | 39 | 93 | 77 | 42 | 65 |
| Tax % | 31% | 33% | 33% | 31% | 31% | 24% | 21% | 23% | 26% | 24% | 24% | 25% | |
| Net Profit + | 11 | 9 | 17 | 21 | 17 | 17 | 35 | 50 | 29 | 71 | 59 | 31 | 48 |
| EPS in Rs | 1.06 | 0.82 | 1.60 | 1.99 | 1.61 | 1.68 | 3.33 | 4.84 | 2.80 | 6.77 | 5.64 | 2.87 | 4.39 |
| Dividend Payout % | 14% | 18% | 9% | 8% | 9% | 12% | 6% | 6% | 14% | 7% | 9% | 17% |
Financials of Arihant Capital
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 |
| Reserves | 66 | 73 | 90 | 108 | 124 | 139 | 172 | 218 | 246 | 312 | 374 | 430 | 472 |
| Borrowings + | 0 | 0 | 8 | 95 | 109 | 41 | 56 | 82 | 60 | 99 | 96 | 239 | 271 |
| Other Liabilities + | 62 | 57 | 91 | 95 | 99 | 144 | 223 | 267 | 206 | 359 | 307 | 417 | 386 |
| Total Liabilities | 139 | 140 | 200 | 309 | 343 | 335 | 461 | 579 | 522 | 780 | 787 | 1,097 | 1,141 |
| Fixed Assets + | 11 | 18 | 19 | 21 | 21 | 21 | 20 | 12 | 14 | 15 | 29 | 34 | 33 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 13 | 0 | 15 | 3 | 15 | 8 | 16 | 26 | 19 | 15 | 24 | 36 | 35 |
| Other Assets + | 115 | 122 | 165 | 285 | 306 | 307 | 425 | 541 | 489 | 751 | 734 | 1,027 | 1,073 |
| Total Assets | 139 | 140 | 200 | 309 | 343 | 335 | 461 | 579 | 522 | 780 | 787 | 1,097 | 1,141 |
Financials of Arihant Capital
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 1 | -13 | 14 | -46 | -4 | 118 | -32 | -18 | 15 | -30 | 32 | -122 |
| Cash from Investing Activity + | 6 | 5 | -16 | 16 | -4 | -2 | -7 | 13 | -0 | 6 | -21 | -22 |
| Cash from Financing Activity + | -2 | -4 | 8 | 85 | 3 | -77 | 10 | 18 | -32 | 27 | -14 | 153 |
| Net Cash Flow | 6 | -12 | 6 | 54 | -5 | 38 | -28 | 13 | -17 | 4 | -4 | 9 |
| Free Cash Flow | 10 | -22 | 12 | -49 | -5 | 117 | -32 | -11 | 10 | -33 | 15 | -126 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 28% | -50% | 57% | -84% | 8% | 382% | -46% | -9% | 52% | -8% | 53% | -159% |
Financials of Arihant Capital
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 164 | 179 | 282 | 417 | 503 | 303 | 478 | 421 | 459 | 150 | 143 | 174 |
| Inventory Days | 1,136 | |||||||||||
| Days Payable | 2,291 | |||||||||||
| Cash Conversion Cycle | 164 | 179 | -873 | 417 | 503 | 303 | 478 | 421 | 459 | 150 | 143 | 174 |
| Working Capital Days | -40 | 115 | 77 | -43 | 287 | -198 | -72 | -53 | -38 | -317 | -201 | -351 |
| ROCE % | 27% | 20% | 40% | 27% | 15% | 15% | 22% | 27% | 16% | 29% | 21% | 11% |
Momentum score · price trend
32 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −15.5% | 42% |
| Last 6 months | +18.5% | 75% |
| Last 3 months | +12.0% | 84% |
The price is 26.8% below its all-time high of ₹118.5 (18 Oct 2024). Stocks more than 20% below their peak have their score halved, so 64 became 32.
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 (1,910 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 Arihant Capital: 0.4 × 42 + 0.4 × 75 + 0.2 × 84 = 64, halved to 32 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 2 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.
Continue your research
What Arihant Capital's management said in earlier quarters
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