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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹322 Cr
verified against source
Revenue YoY
18%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Anand Rathi Wealth delivered a strong Q1 FY27 with 18% YoY revenue growth to ₹336 crore and 24% YoY PAT growth to ₹116 crore, driven by resilient net flows of ₹2,743 crore despite market volatility. Total AUM reached ₹1.63 lakh crore, up 21% YoY, supported by low client attrition of 0.9% and zero RM attrition. The company achieved 24% of its full-year revenue guidance of ₹1,415 crore and 25% of PAT guidance of ₹460 crore, expressing confidence in meeting targets. Management highlighted four growth cylinders: embedded returns, capacity utilization (33 clients per RM vs. potential 50), new RM additions, and deeper wallet penetration. Risks include potential compression of distributor margins from AMC fee cuts and concentration risk in structured products via its NBFC subsidiary.
Colored figures show movement against the previous available record.
Guidance to track
- Achieved 24% in Q1; confident of meeting target.
- Achieved 25% in Q1; confident of meeting target.
- Driven by 10-12% market returns and 10-12% net flows (~1% of AUM per month).
- Currently ~230 from 211; expects hockey-stick growth to four digits in a few years.
Risks flagged
- Analyst raised concern that AMCs may pass on total expense ratio pressures to distributors, potentially impacting margins.
- High reliance on Anand Rathi Global Finance for structured products; management views it as de-risking but acknowledges credit risk.
- Q1 saw high volatility; sustained poor market conditions could slow net flows and AUM growth.
Key quotes
- We buy what we sell rather than sell what sells.
- Opportunity is overrated, focus is underrated.
- We have beaten Nifty by about 6% if I'm not wrong all the 14 schemes have beaten Nifty it seldom happens.
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