Anand Rathi Share and Stock Brokers Analyzed

Anand Rathi Share and Stock Brokers saw a significant increase in its profits and revenue during Q3 of fiscal year 26. The company’s performance highlights a strong recovery and growth in the Indian capital markets. This positive trend is driven by increasing investor confidence and the company’s strategic focus.

Key Points

• Strong Profit Growth: Net profit up 71.77% to Rs 37 crore.
• Revenue Increase: Total revenue up 21.45% to Rs 248.20 crore.
• EBITDA Boost: EBITDA up 31.5% to Rs 101.15 crore.
• MTF Expansion: Margin Trading Facility book grew 46.1% to Rs 1,231.67 crore.
• Assets Under Management: AUM increased 32.1% to Rs 8,368.84 crore.
• Client Base Growth: Client base grew 14.6% to 9,92,531 clients.

Q3 FY26 Financial Performance

The company’s Q3 FY26 results demonstrate considerable growth. Profit before tax jumped by 73.44% to Rs 49.76 crore. The EBITDA margin also improved to 40.8%, up from 37.6% in the previous quarter.

Revenue from different services grew substantially. Broking services rose by 12% to Rs 128.66 crore, while interest income from the Margin Trading Facility (MTF) increased by 45.7% to Rs 43.83 crore. Distribution income also saw a 37.7% jump to Rs 25.06 crore, and other income grew by 22.8% to Rs 50.65 crore.

The growth in the MTF book – Rs 1,231.67 crore – shows that investors are willing to take risks and demonstrates the platform’s effectiveness. Furthermore, the company’s Assets Under Management (AUM) increased by 32.1% to Rs 8,368.84 crore, creating a strong foundation for future revenue.

Client and Management Commentary

Chairman and Managing Director Pradeep Gupta highlighted the challenging market conditions in FY26, emphasizing the company’s resilient performance. Despite weak global markets and foreign investor selling pressure, Anand Rathi maintained growth, driven by strong broking revenues and expansion in non-broking businesses.

He noted that the company’s focus on customer relationships and disciplined financial stewardship, combined with a 54% client retention rate over 3+ years, continues to build trust. The growth in the MTF book and AUM further validates this strategy, and the company plans to shift focus towards non-broking businesses for stabilization.

The company’s long-standing experience (over 30 years), diverse client base (including retail, HNWIs, UHNWIs, and institutions), and wide range of investment offerings (equity, derivatives, commodities, and currencies) contribute to its sustained success.

“Strong broking revenues, with Assets under Custody rising 48% year-on-year to Rs 1.06 trillion, an affirmation of our clients’ trust and our disciplined approach to financial stewardship.” – Pradeep Gupta, Chairman and Managing Director.