Anand Rathi Share And Stock Brokers Ltd

Meeting Details

• Date: October 14, 2026; earnings conference call (Q2 FY27), virtual group call.
• Recording available on company website; transcript to be shared with exchanges and uploaded.
• Key participant: Company Secretary and Compliance Officer.
• Purpose: discuss Q2 FY27 earnings and results.

Share Capital Change

• Allotted 44,350 equity shares under ESOP 2023 at Rs 5 per share.
• Paid-up capital increases to Rs 31,55,53,750; total shares 6,31,10,750.
• ESOP shares subject to 1-year lock-in and rank pari passu with existing shares.

Business Overview

• Anand Rathi is a full-service brokerage with 30+ year track record.
• Pan-India network: 99 branches and 1,071 APs.
• Revenue from operations rose to ₹5,200 Mn in H1 FY27; PAT before exceptional ₹810 Mn.
• AUM/Custody and active client base growing; strong Tier 2/3 penetration.
• Digital platforms expand client onboarding and trading capabilities.

Operational Highlights

• Q2 FY27 revenue ₹2,735 Mn; EBITDA ₹998.6 Mn; PAT ₹419 Mn.
• H1 FY27 revenue ₹5,193.2–₹5,200 Mn; EBITDA ₹1,971.6 Mn; PAT before exceptional ₹810.0 Mn.
• Total clients 1,049,536; AUC ₹11,54,190.4 Mn; MTF Book ₹14,992.9 Mn.

Financial Performance

• Q2 FY27 EBITDA 998.6 Mn; margin 36.5%; Q2 PAT 419 Mn; margin 15.3%.
• H1 FY27 revenue growth ~21%; PAT before exceptional up 59.7%.
• ROCE ~14.4% (Q2 FY27); ROE ~12.3% (Q2 FY27).

Capital Structure & Liquidity

• Total assets ₹44,913 Mn; liabilities ₹30,123 Mn; equity ₹13,830 Mn.
• Cash & equivalents ₹857 Mn; bank balances ₹22,311 Mn; borrowings ₹11,851 Mn.
• Debt securities ₹2,192 Mn; trade payables ₹15,702 Mn.

Strategic Priorities & Outlook

• Digitization and integrated platforms to enhance on-boarding and service.
• Diversified revenue flywheel across broking, MTF, and distribution.
• Pan-India expansion through branches and APs; focus on Tier 2/3 markets.
• Capital allocation to fund growth and digital investments.

Governance & Leadership

• Promoter group remains Anand Rathi Group; no governance changes reported.
• Company Secretary and Compliance Officer engaged; no board changes disclosed.

Key quarterly financial highlights

• Q2FY27 Revenue from Operations ₹2,732 million, up 20% YoY.
• H1FY27 Revenue from Operations ₹5,193 million, up 21% YoY.
• Q2FY27 EBITDA ₹999 million; margin 37%.
• H1FY27 EBITDA ₹1,972 million; margin 38%.
• Q2FY27 PAT ₹419 million; margin 15%.
• H1FY27 PAT ₹653 million after exceptional items; up 28.7% YoY.
• Non-broking revenues up 21% YoY.
• MTF Book ₹14,993 million, up 38.2% YoY.
• AUM ₹99,990 million, up 29.2% YoY.
• AUC ₹11,54,190 million, up 13.2% YoY.
• MTF interest income ₹496 million, up 36.3% YoY.
• Income from distribution ₹327 million.
• 55% of clients have >3 years tenure.
• Investing in technology; serving clients via physical network.

Board approvals & financial highlights

• Standalone Q2 2026 total income: 2,729.83 million; half-year: 5,191.15 million.
• Consolidated Q2 2026 total income: 2,734.60 million; half-year: 5,200.12.
• Standalone half-year PAT: 658.06 million; EPS Basic 10.44; Diluted 10.24.
• Consolidated half-year PAT: 652.90 million; EPS Basic 10.36; Diluted 10.16.
• Net Worth: Standalone 13,882.01 million; Consolidated 13,830.34 million.
• Debt-Equity: Standalone 1.01; Consolidated 1.02.
• DSCR/ISCR: Standalone 2.13/2.43; Consolidated 2.13/2.42.
• Operating Margin (Consolidated, half-year) 20.90%; Net Margin 15.60%.
• Exceptional item: 209.96 million expense for DP fraud; EOW investigation ongoing.
• Auditors issued an unmodified conclusion; results to be published in newspapers; site posted.

NCD Allotment Details

• 1,085 secured, unlisted, redeemable NCDs of ₹1,00,000 each were allotted via private placement.
• Aggregate size ₹10.85 crore.
• Tenure: 3 years; maturity on 28 September 2029; allotment date 28 September 2026.
• Coupon: 9% per annum, with quarterly payments.
• First-ranking charge by hypothecation over present and future assets, book debts and receivables.
• 2% additional interest for default beyond due date.
• Not listed on stock exchanges.

Anand Rathi Share and Stock Brokers Limited — Trading window closed from October 01, 2026 till 48 hours after the declaration of the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026

Meeting Details

• Date: Monday, September 28, 2026; time not disclosed.
• Type and mode: Group investor conference, fully virtual.
• Organised by: Arihant Capital; Event: Bharat Connect Conference.
• Key participants: Company officials (management level).
• Purpose: Investor conference interaction.

Debt / Trustee Update

• Allotted 100 secured, unlisted, redeemable NCDs of Rs 1,00,000 face value each.
• Aggregate issue size Rs 1 crore.
• Tenure is 375 calendar days; Allotment on Sep 10, 2026; Redemption on Sep 20, 2027.
• Coupon rate 9%, with quarterly interest payments.
• First ranking charge over all present and future unencumbered assets, book debts, and receivables.
• In case of default, 2% additional interest accrues.
• Not proposed for listing; issued via private placement.
• Full redemption on maturity.