Anand Rathi Wealth Ltd Q4FY26 Result Analysis

Management Commentary and Guidance for FY27:

• Management, including Rakesh Rawal and Feroze Azeez, highlighted that market corrections created attractive opportunities for disciplined investing, an approach the company continues to follow.
• The company has provided FY27 guidance with revenue expected to reach ₹1,415 crore, reflecting a growth of 20.42% over FY26. Profit after tax (PAT) is projected at ₹460 crore, indicating an increase of 22.67% compared to FY26.
• It has also provided guidance for Assets Under Management (AUM), targeting ~20% growth to ₹1.2 lakh crore in FY27, compared to the earlier estimate of ₹1 lakh crore for FY26.

Outlook:

Anand Rathi Wealth Ltd delivered a strong performance in FY26, reporting revenue growth of 22.33% over FY25. While the company fell short of its AUM guidance for FY26, it has outlined a strong outlook for FY27, with AUM expected to grow by ~20%, revenue by 20.42%, and PAT by 22.67% over FY26. This outlook is supported by its disciplined investing approach and consistent execution strategy.
We expect the company to sustain its growth trajectory, driven by improving client additions, stable inflows, and operational efficiency. It reported an EPS of ₹47.14 in FY26 and is currently trading at a CMP of ₹3,553.70, implying a P/E multiple of 75.38x. Valuations remain elevated, but are justified by strong earnings visibility and long-term growth potential.

Results:

Source: Company website, EWL Research

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