Industry cash segment turnover decline
Exchange cash segment turnover fell 6% in Q2 FY26, which could pressure broking revenues if the trend continues.
medium · management_commentaryAnand Rathi Share and Stock Brokers Limited — Q2 FY26
Anand Rathi reported Q2 FY26 consolidated revenue of ₹227.2 crore, EBITDA of ₹92.6 crore (margin 40.8%), and PAT of ₹27.9 crore, all showing strong sequential growth of 13%, 24%...
bullish
medium
Financial stats pending filing verification
Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Broking revenue decline in H1
Income from broking and related services dropped 22% YoY in H1 FY26, indicating vulnerability to market conditions.
high · data_observationConcentration risk in MTF book growth
Rapid MTF book expansion (target ₹1,500 crore) could increase credit risk if market turns, though current NPAs are zero.
medium · analyst_question