Anand Rathi Wealth hits 52-week high on reporting 256% rise in Q4 net profit

Anand Rathi Wealth shares rose 7.09% to Rs 655.10 after the company’s consolidated net profit increased 256.66% to Rs 35 crore on a 49% increase in total income to Rs 115 crore in the March 2022 quarter compared to the year-ago period. In early trading today, the stock touched a new high of Rs 711.95.

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In Q4 2022, profit before tax increased 169.60% year on year to Rs 44.08 crore, while EBITDA increased 216% year on year to Rs 46 crore. During the period under review, Assets Under Management (AUM) increased by 23% to Rs 32,906 crore.

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Anand Rathi Wealth’s net profit increased 184.08% to Rs 126.73 crore in the fiscal year ending March 2022, with total income increasing 52.42% to Rs 425.63 crore.

In FY22, EBITDA increased by 155% year on year to Rs 177 crore. For the fiscal year ending March 2022, the board recommended a final dividend of Rs 6 per share.

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Rakesh Rawal, chief executive officer said: “Our growth in AUM to Rs 32,906 crore, (23% over last year) has helped us deliver strong growth in topline and much higher margins. We believe our long-term commitment to offering the most efficient wealth management solutions to our clientele, coupled with a dedicated team of Relationship Managers will enable us to achieve strong growth in years ahead.” 

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Feroze Azeez, deputy chief executive officer said: “The macro tailwinds in this business are huge and we want to build a business that is highly differentiated and sustainable. We are happy to have more than 7,000 satisfied client families out of which 57% are with us for more than 3 years. With a well trained and committed team of Relationship Managers, we are expecting significant growth in the current year. With growing awareness of a need for dedicated wealth management advisors and broad-based recovery in the economy, we expect an increased inflow of funds and consistent growth in our AUM in the coming quarters.”

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Anand Rathi Wealth is one of the leading non-bank wealth solutions firms in India. In addition to Private Wealth Vertical (PWM), the company has two new-age technology-led business verticals i.e. Digital Wealth (DWM) and Omni Financial Advisors (OFA).