ANANDRATHI / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Anand Rathi Wealth · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY26 · 2025-10-30Back to quarter ↗

Questions audited

Answered directly

92%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Akash Sha · AJ W

direct

How does Anand Rathi retain AUM despite RM attrition?

RM attrition in our company is reasonably low... we had to let go of two and the other two left themselves... we've been able to retain about 79% of the four people so far of the assets.

Akash Sha · AJ W

direct

Is the AUM guidance of 1 lakh crore still intact?

We'll retain the guidance of one lakh cr. It's an aspirational number. We are at 9,91,568. We'll keep that as one lakh. We always like to undercommit over deliver.

Bhavin Pandi · MK Investment Managers Limited

direct

How will growth be sustained as AUM base increases?

Critical mass is important... will we increase the rate of growth? I don't think so because with the base being larger the quantum of rupee value is higher but percentages may not increase.

Bhavin Pandi · MK Investment Managers Limited

direct

What is the mix of flows from existing vs new families?

65 is existing currently and 35 is new. Why is it 65 35? It could also be 50/50. But we are very relaxed when we attract a client.

Arun Gopal · Individual Investor

partial

What is the revenue mix between mutual funds and structured products?

We had guided that we will get to 50/50 over a period of time... we might be at how much shall we 43 44 somewhere somewhere in the 43 44 kind of range.

Arun Gopal · Individual Investor

direct

Where does management see Anand Rathi in five years?

We plan for September 2030's revenue... if I grow my business at 25% I need 289 crores... from a client side we have a target of making 1 lakh 25,000 crores of mark-to-market gain for our clients.

Jotihi · Capita

partial

How will management address declining RM retention?

These attrition numbers which you see are not going to last. There are some differences on the cultural side... you can expect some attrition where there are cultural misfits but not an exodus is my belief.

Priyam · Thrietra Asset Managers

direct

Is there enough good credit to sustain structured product growth?

Anand Rathi Global Finance our confidence there is 99.99% because of the kind of management and their liquidity... is this business scalable to 1 lakh cr or 1 and a half lakh cr? my judgment yes very very easily.

Sonic Sha · S PMS

direct

Will management diversify structured product counterparties beyond Anand Rathi Global Finance?

Is diversification on the cards? The answer is a big yes. Have we approved one more just now again Nuama... we are looking at diversification. Point noted so you will hear some more news from us.

Mahek · MK Global

direct

Why did equity MF inflows as a share of total inflows increase to 70%?

When the market is down, the gap in mutual fund becomes larger... when you allocate money as per a process rather than a top-of-mind recall... you'll buy more mutual funds.

Mahek · MK Global

direct

Why did finance expenses increase 21% sequentially?

as and when the lease rentals get renewed... there were larger number of lease rentals got renewed and as per Ind AS 116 part of the lease rental has to be booked under finance charges... we have taken some car loans of about 10 cr rupees last year 20 cr rupees.

Shinik Ma · Indo Ads

direct

Can the current growth and ROE be sustained without new platforms?

Our attempt is to keep the ROE high... we believe that the four engines... new RMs, existing RM, new clients, existing clients... in our firm belief is for long periods of time 20 to 25. But with the base going up... can these 30s normalize to in the 2025 range? The answer is yes.