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RM attrition from cultural misfits
View Risks →Anand Rathi Wealth Limited — Q2 FY26
Anand Rathi Wealth delivered a strong Q2 FY26 with revenue of ₹307 crore (+23% YoY) and PAT of ₹99.89 crore (+31% YoY), marking the 16th consecutive quarter of consistent performance despite a 34% Nifty decline.
bullish
high
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Anand Rathi Wealth delivered a strong Q2 FY26 with revenue of ₹307 crore (+23% YoY) and PAT of ₹99.89 crore (+31% YoY), marking the 16th consecutive quarter of consistent performance despite a 34% Nifty decline. Key drivers included robust equity MF net flows of ₹2,062 crore (+101% YoY) and total net flows of ₹3,262 crore (+28% YoY). AUM reached ₹91,568 crore, with market share in equity MF net flows rising to 2.33% in H1. Management maintained its aspirational AUM guidance of ₹1 lakh crore for FY26, assuming 9-10% market growth. Client attrition remained low at 0.18% for H1. Risks include potential RM attrition from cultural misfits and concentration risk in structured products via Anand Rathi Global Finance, though diversification efforts are underway.
अनंद राठी वेल्थ ने दूसरी तिमाही में 307 करोड़ रुपये की कमाई की, जो पिछले साल से 23% ज्यादा है। मुनाफा 99.89 करोड़ रुपये रहा, जो 31% बढ़ा। यह लगातार 16वीं तिमाही है जब कंपनी ने अच्छा प्रदर्शन किया, भले ही निफ्टी 34% गिरा। मुख्य वजह इक्विटी म्यूचुअल फंड में निवेश का बढ़ना रहा, जो 2,062 करोड़ रुपये पहुंच गया। कुल निवेश 3,262 करोड़ रुपये रहा। कंपनी की कुल संपत्ति 91,568 करोड़ रुपये हो गई। उनका लक्ष्य इस साल 1 लाख करोड़ रुपये की संपत्ति तक पहुंचना है। ग्राहक छोड़ने की दर बहुत कम 0.18% रही। जोखिमों में कर्मचारियों का छोड़ना और कुछ निवेशों पर ज्यादा निर्भरता शामिल है, लेकिन कंपनी इसे कम करने की कोशिश कर रही है।
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AUM
₹91,568 crore
+203% vs IPO
AUM more than doubled from ₹30,200 crore at IPO four years ago.
Equity MF Net Flows
₹2,062 crore
+101% YoY
Equity mutual fund net flows doubled year-on-year despite challenging market sentiment.
Market Share in Equity MF Net Flows
2.33%
+217bps vs FY20
Market share in active equity MF net flows increased from 0.16% in FY20 to 2.33% in H1 FY26.
Client Attrition Rate
0.18%
flat
Client attrition remained low at 0.18% for H1 FY26, reaffirming client trust.
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Guidance and risk preview
Management retained the aspirational AUM target of ₹1 lakh crore by March 2026, assuming 9-10% market growth and strong net flows.
Four RMs left in H1 due to cultural issues in one location, though 79% of their assets were retained.
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