Anand Rathi Wealth Limited Q1 FY2027 Investor Presentation
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Overview
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Detailed Analysis
Sentiment
Positive
Executive Summary
Anand Rathi Wealth Q1 FY27: Total revenue ₹336.4 Cr (vs ₹284.1 Cr in Q1 FY26), PAT ₹115.86 Cr (vs ₹93.82 Cr in Q1 FY26)
The deck presents Q1 FY27 consolidated results where Total Revenue rose to ₹336.4 Cr from ₹284.1 Cr in Q1 FY26 and PAT increased to ₹115.86 Cr from ₹93.82 Cr in Q1 FY26; PBT for Q1 FY27 was ₹156.3 Cr versus ₹126.2 Cr in Q1 FY26. Assets under Management (AUM) grew to ₹1,06,300 Cr as of Jun-26 from ₹87,797 Cr as of Jun-25, driven by higher net inflows and MTM gains. Management reiterates FY27 guidance of Revenue ₹1,415 Cr, PAT ₹460 Cr and AUM target ₹1,20,000 Cr and reports Q1 progress against those targets (24%–25% achieved). The presentation also highlights RM productivity, client vintage...Total Revenue (Q1 FY27)
₹336.4 Crvs ₹284.1 Cr in Q1 FY26
Profit After Tax (Q1 FY27)
₹115.86 Crvs ₹93.82 Cr in Q1 FY26
PBT (Q1 FY27)
₹156.3 Crvs ₹126.2 Cr in Q1 FY26
Assets Under Management (Jun-26)
₹1,06,300 Crvs ₹87,797 Cr in Jun-25
Total Net-Inflows (Q1 FY27)
₹2,743 Crvs ₹3,824 Cr in Q1 FY26
Employee Benefit Expenses (Q1 FY27)
₹130.2 Crvs ₹114.8 Cr in Q1 FY26
Key Highlights
9
Consolidated Total Revenue for Q1 FY27 was ₹336.4 Cr, up from ₹284.1 Cr in Q1 FY26 driven by growth across MF, structured products and other financial products.
PAT for Q1 FY27 improved to ₹115.86 Cr from ₹93.82 Cr in Q1 FY26, reflecting higher operating leverage and PBT rising to ₹156.3 Cr.
AUM rose to ₹1,06,300 Cr as of Jun-26, a 21.1% increase versus ₹87,797 Cr in Jun-25 with MF Equity & Debt AUM at ₹59,919 Cr (15.6% YoY).
Guidance progress
Net-inflows composition shifted
Relationship Manager (RM) productivity
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Key Highlights
9
Consolidated Total Revenue for Q1 FY27 was ₹336.4 Cr, up from ₹284.1 Cr in Q1 FY26 driven by growth across MF, structured products and other financial products.
PAT for Q1 FY27 improved to ₹115.86 Cr from ₹93.82 Cr in Q1 FY26, reflecting higher operating leverage and PBT rising to ₹156.3 Cr.
AUM rose to ₹1,06,300 Cr as of Jun-26, a 21.1% increase versus ₹87,797 Cr in Jun-25 with MF Equity & Debt AUM at ₹59,919 Cr (15.6% YoY).
Guidance progress
Net-inflows composition shifted
Relationship Manager (RM) productivity
Client vintage and stickiness improved with >3-year clients representing ~82% of client families (13,941 active families in Q1 FY27) and client attrition (% of AUM lost) at ~0.09% in Q1 FY27.
Digital/retail scale
Shareholder returns history highlighted
Guidance & Outlook
4
Management guidance for FY27 targets Revenue ₹1,415 Cr, Profit after tax ₹460 Cr and AUM ₹1,20,000 Cr, with Q1 representing ~24%–25% of those targets.
Company highlights continued RM-led expansion with RMs reaching ~400 in 2026 and plans to add cities and new RMs as a source of growth.
Digital platform (OFA) roadmap to scale MFD/IFA network and platform clients with platform assets reported at ₹1,57,870 Cr in Jun-25 rising to ~₹1,65,561 Cr in Jun-26, supporting retail distribution growth.
Company expects wallet-share gains, organic returns and new client additions to be primary AUM drivers going forward as emphasised under ‘Sources of Growth’.
Risks & Concerns
6
Net-inflows declined YoY (₹2,743 Cr in Q1 FY27 vs ₹3,824 Cr in Q1 FY26), exposing AUM growth sensitivity to distribution momentum and market flows.
Employee Benefit Expenses rose to ₹130.2 Cr in Q1 FY27 from ₹114.8 Cr in Q1 FY26, creating wage cost pressure that could compress margins if revenue growth slows.
AUM and fee revenue are exposed to market performance and MTM swings as noted in the deck; adverse markets would negatively impact revenue and margins.
Execution risk against FY27 targets
Concentration risk in RM-led model
Regulatory and product risk for structured products and new offerings could affect distribution or product profitability given evolving regulatory environment for financial intermediaries.
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