Anand Rathi Wealth
bullish highAnand Rathi Wealth delivered a strong Q4 FY26 with revenue of ₹302 crore (+25% YoY) and PAT of ₹92 crore (+25% YoY), marking the 18th consecutive quarter of >20% PAT growth.
Read Anand Rathi Wealth analysis →Anand Rathi Wealth vs South Indian Bank Q4 FY26
Side-by-side earnings comparison across verified financials, AI summaries, management guidance, risks, quotes, and accountability signals.
South Indian Bank
bullish highSouth Indian Bank reported a strong Q4 FY26 with net profit of ₹408 crore (up 19% YoY) and full-year PAT of ₹1,455 crore (up 12% YoY).
Read South Indian Bank analysis →Result Snapshot
Revenue₹288 Cr—
PAT₹103 Cr₹408 Cr
EBITDA Margin29%—
Sentimentbullishbullish
AI Summary
Anand Rathi Wealth
Q4 FY26 · Financial ServicesAnand Rathi Wealth delivered a strong Q4 FY26 with revenue of ₹302 crore (+25% YoY) and PAT of ₹92 crore (+25% YoY), marking the 18th consecutive quarter of >20% PAT growth. Full-year revenue reached ₹1,198 crore (+22% YoY) and PAT ₹386 crore (+28% YoY), beating the guided ₹375 crore. AUM crossed ₹1 lakh crore post-quarter end, a key milestone. Management guided FY27 revenue of ₹1,415 crore, PAT of ₹460 crore, and AUM of ₹1.2 lakh crore, implying ~19% PAT growth—conservative versus historical 20-25% range. Net inflows grew only 7% YoY to ₹13,457 crore, reflecting market headwinds, but client attrition remained low at 0.54% AUM lost. Key risk: sustained market weakness could pressure net inflows and AUM growth, impacting revenue visibility.
- Guidance read
- FY27 Revenue Guidance of ₹1,415 Cr: Management guided FY27 revenue at ₹1,415 crore, implying ~18% growth over FY26's ₹1,198 crore. FY27 PAT Guidance of ₹460 Cr: PAT guidance for FY27 is ₹460 crore, representing ~19% growth over FY26's ₹386 crore, excluding ESOP and fair value items. FY27 AUM Guidance of ₹1.2 Lakh Cr: AUM target for FY27 is ₹1.2 lakh crore, up from ~₹1 lakh crore achieved post-Q4. Bonus Issue 1:1 and Final Dividend ₹7/Share: Board approved 1:1 bonus share issuance and final dividend of ₹7 per share, subject to shareholder approval.
- Risk read
- Key risks include ESOP Cost Volatility — A ₹39.3 crore ESOP charge was booked in Q4, concentrated among KMPs. Future charges could impact reported PAT if market price rises further.; Net Inflow Slowdown — Net inflows grew only 7% in FY26, and management acknowledged this is not a strong number. Sustained market weakness could further pressure inflows.; Regulatory Impact on Trail Commissions — New SEBI total expense ratio (TER) structure may compress distributor payouts. Management downplayed impact as 2-4 bps, but it remains a headwind.; Concentration in Mutual Fund Revenue — Mutual fund distribution revenue constitutes ~41% of total revenue. Any regulatory or competitive pressure on trail commissions could affect margins..
- Promise ledger
- Scorecard data is being built as historical quarters are processed.
South Indian Bank
Q4 FY26 · Financial ServicesSouth Indian Bank reported a strong Q4 FY26 with net profit of ₹408 crore (up 19% YoY) and full-year PAT of ₹1,455 crore (up 12% YoY). Asset quality improved sharply: gross NPA fell 177 bps YoY to 1.43% and net NPA to 0.29%. Slippage ratio was a record low 15 bps for the quarter. Growth was driven by a 46% surge in gold loans (now ₹24,729 crore) and a shift toward retail/MSME. NIM improved to 2.95% on better mix. Management guided for 15-16% loan growth in FY27 and expects NIM to widen further. Key risk: credit costs may rise from current unsustainably low levels (3 bps this quarter) due to geopolitical uncertainties.
- Guidance read
- Loan growth target of 15-16% for FY27: Management aims to grow advances at 15-16% in FY27, matching or exceeding industry growth. NIM to continue widening: NIM improved 9 bps QoQ to 2.95% in Q4; management expects further improvement from asset mix shift and deposit repricing. Positive operating leverage for third consecutive year: Management targets positive operating leverage in FY27, with revenue growth outpacing expense growth. Corporate book to reduce to ~33% of total advances: Medium-term target to bring corporate exposure down from 38% to about one-third of the loan book.
- Risk read
- Key risks include Credit cost normalization — Credit cost was only 3 bps in Q4, unsustainably low. Management expects it to trend upward due to geopolitical stresses.; Gold price volatility risk — A sharp drop in gold prices could erode collateral margins on the large gold loan book (₹24,729 crore). Management uses VaR and margin calls but extreme moves remain a risk.; Succession uncertainty — MD & CEO's term ends Sep 30, 2026. Board search is ongoing; any delay or unfavorable outcome could impact strategic continuity.; ECL transition impact — Transition to expected credit loss (ECL) norms may require higher provisions, though management expects no material impact..
- Promise ledger
- Scorecard data is being built as historical quarters are processed.
Key Numbers
Anand Rathi Wealth
Q4 FY26 · Financial Services
AUM
₹1,00,000 Cr
+22% YoY
AUM crossed ₹1 lakh crore post-quarter, up from ~₹82,000 Cr in FY25.
Client Families
13,395
+1,600 YoY
Net addition of 1,600 client families in wealth management segment.
Client Attrition Rate
0.54%
Flat YoY
AUM lost to attrition was 0.54% for FY26, consistent with prior year.
Net Inflows
₹13,457 Cr
+7% YoY
Full-year net inflows grew 7% to ₹13,457 crore, impacted by market volatility.
South Indian Bank
Q4 FY26 · Financial Services
Gross NPA
1.43%
-177 bps YoY
Improved from 3.20% a year ago, reflecting strong asset quality.
Net NPA
0.29%
-63 bps YoY
Net NPA below 30 bps, a multi-year low.
Slippage Ratio (Q4)
15 bps
Not annualized
Record low slippage for the quarter, indicating strong underwriting.
Gold Loan Book
₹24,729 crore
+46% YoY
Gold loan growth driven by branch expansion and higher gold prices.
Management Guidance
Anand Rathi Wealth
Q4 FY26 · Financial ServicesFY27 Revenue Guidance of ₹1,415 Cr
Management guided FY27 revenue at ₹1,415 crore, implying ~18% growth over FY26's ₹1,198 crore.
Management guidance revenueFY27 PAT Guidance of ₹460 Cr
PAT guidance for FY27 is ₹460 crore, representing ~19% growth over FY26's ₹386 crore, excluding ESOP and fair value items.
Management guidance growthFY27 AUM Guidance of ₹1.2 Lakh Cr
AUM target for FY27 is ₹1.2 lakh crore, up from ~₹1 lakh crore achieved post-Q4.
Management guidance growthBonus Issue 1:1 and Final Dividend ₹7/Share
Board approved 1:1 bonus share issuance and final dividend of ₹7 per share, subject to shareholder approval.
Management guidance otherSouth Indian Bank
Q4 FY26 · Financial ServicesLoan growth target of 15-16% for FY27
Management aims to grow advances at 15-16% in FY27, matching or exceeding industry growth.
Management guidance growthNIM to continue widening
NIM improved 9 bps QoQ to 2.95% in Q4; management expects further improvement from asset mix shift and deposit repricing.
Management guidance marginsPositive operating leverage for third consecutive year
Management targets positive operating leverage in FY27, with revenue growth outpacing expense growth.
Management guidance marginsCorporate book to reduce to ~33% of total advances
Medium-term target to bring corporate exposure down from 38% to about one-third of the loan book.
Management guidance expansionKey Risks
Anand Rathi Wealth
Q4 FY26 · Financial ServicesESOP Cost Volatility
A ₹39.3 crore ESOP charge was booked in Q4, concentrated among KMPs. Future charges could impact reported PAT if market price rises further.
medium · analyst_questionNet Inflow Slowdown
Net inflows grew only 7% in FY26, and management acknowledged this is not a strong number. Sustained market weakness could further pressure inflows.
high · management_commentaryRegulatory Impact on Trail Commissions
New SEBI total expense ratio (TER) structure may compress distributor payouts. Management downplayed impact as 2-4 bps, but it remains a headwind.
medium · analyst_questionConcentration in Mutual Fund Revenue
Mutual fund distribution revenue constitutes ~41% of total revenue. Any regulatory or competitive pressure on trail commissions could affect margins.
medium · data_observationSouth Indian Bank
Q4 FY26 · Financial ServicesCredit cost normalization
Credit cost was only 3 bps in Q4, unsustainably low. Management expects it to trend upward due to geopolitical stresses.
medium · management_commentaryGold price volatility risk
A sharp drop in gold prices could erode collateral margins on the large gold loan book (₹24,729 crore). Management uses VaR and margin calls but extreme moves remain a risk.
medium · analyst_questionSuccession uncertainty
MD & CEO's term ends Sep 30, 2026. Board search is ongoing; any delay or unfavorable outcome could impact strategic continuity.
medium · analyst_questionECL transition impact
Transition to expected credit loss (ECL) norms may require higher provisions, though management expects no material impact.
low · analyst_questionKey Quotes
Anand Rathi Wealth
Q4 FY26 · Financial ServicesWe will try and deliver market agnostic performance which seems difficult in a financial services firm but actually it's reasonably easy in our judgment.
We are not a pharmacy. Pharmacies have medicines, generic medicines published by on the counter of any pharma company. We first decide what will we buy and only sell that which is mathematically correct.
South Indian Bank
Q4 FY26 · Financial ServicesWe are branching out from corporate into the retail and MSME side of the house and we are doing a lot of work to broaden out the fee base.
Our aim is to ensure that we continue to have positive operating leverage. We are very thrilled that we've had positive operating leverage two years running and we'd like to make that a third year.