Anand Rathi Share And Stock Brokers Ltd — earnings calls

Anand Rathi Share and Stock Brokers reported Q1 FY27 revenue of Rs 2,461 million, up 22.37% year-on-year, with EBITDA growing 30.19% to Rs 973 million and a 39.54% EBITDA margin. The company recognized an exceptional expense of about Rs 209.96 million related to restoration of client securities following fraudulent off-market transfers in its depository business, which reduced PAT after exceptional items to Rs 233.51 million. Management also discussed growth in its MTF book and distribution AUM, a Dubai subsidiary plan for NRI customers, and the impact of regulatory changes on the broking and derivatives segments.

Anand Rathi Shares and Stock Brokers reported Q4 FY26 consolidated revenue of about Rs 2,557 million, EBITDA of Rs 1,103 million, and PAT of Rs 416 million, alongside full-year FY26 revenue of Rs 9,322 million, EBITDA of Rs 3,796 million, and PAT of Rs 1,293 million. Management described a decline in the MTF book during the quarter due to RBI policy changes affecting bank funding and cautious client positioning amid weak markets, even as distribution income grew 44.1% for the year. The company also detailed its broking-to-non-broking revenue mix, client base growth, and improvement in its debt-equity ratio following its September 2025 IPO.