Anand Rathi Q2 FY27: PAT up 50%, revenue up 20% YoY

Two Anand Rathi entities report Q2 updates

Anand Rathi group companies reported their September-quarter (Q2 FY27) numbers across broking and wealth management, highlighting a continued focus on profitability and operating margins. Anand Rathi Share and Stock Brokers Limited (ARSSBL) announced its unaudited consolidated results on 13 October 2026 for the quarter ended 30 September 2026. Separately, Anand Rathi Wealth Limited (ARWL) presented its Q2 and H1 FY27 results around 12 October 2026, with disclosures covering revenue, margins, client inflows, and guidance tracking.

The updates matter for investors tracking the listed capital markets ecosystem, where earnings are closely linked to market volumes, investor activity, and wealth inflows. The quarter also underlined how different business lines within the broader group are reporting performance using distinct metrics, including revenue from operations versus total income, and adjusted versus reported profit measures.

Anand Rathi Share and Stock Brokers: revenue and PAT growth

ARSSBL reported a year-on-year (YoY) increase in revenue from operations of 20.3% to ₹273.2 crore for the quarter ended 30 September 2026. Profit after tax (PAT) rose 50.3% YoY to ₹41.9 crore for the same period. The company characterised the results as part of its unaudited consolidated financial reporting.

On operating profitability, ARSSBL reported EBITDA of ₹99.9 crore for Q2 FY27. EBITDA margin for the quarter was 37%, indicating operating leverage relative to revenue from operations reported in the period.

The company also disclosed its first-half performance, providing a broader view beyond one quarter. For H1 FY27, revenue from operations increased 21.2% YoY to ₹519.3 crore, while H1 EBITDA stood at ₹197.2 crore with an EBITDA margin of 38%.

ARSSBL H1 FY27: margins and PAT before exceptional items

For the first half of FY27, ARSSBL reported PAT before exceptional items of ₹81 crore. The company also disclosed a PAT margin of 16% for H1 FY27, alongside the operating margin expansion reflected in the 38% EBITDA margin.

While the quarterly release highlighted YoY growth, it did not detail the segment-wise drivers in the provided information. Still, the combination of faster PAT growth relative to revenue growth points to improved profitability in the reported period.

Anand Rathi Wealth: profit growth despite revenue miss

Anand Rathi Wealth Limited reported consolidated PAT of ₹122 crore for Q2 FY27, representing 22.2% YoY growth. On revenue, it reported total revenue including other income of ₹357 crore, up 16.1% YoY, while noting that this figure missed analyst forecasts by around 4.43%.

For the same quarter, total revenue from operations was reported at ₹344 crore, up 15.7% YoY. The company also reported profit before tax (PBT) of ₹163 crore, up 21.7% YoY.

The company’s narrative for the quarter emphasised profitability and business momentum, alongside client inflows, even as the revenue number was described as modestly below estimates.

Wealth business momentum: inflows, AUM, and dividend

Anand Rathi Wealth reported total net inflows of ₹4,186 crore in Q2 FY27, representing 39% growth from the prior-year quarter. It also reported assets under management (AUM) of ₹1,08,377 crore, up 18% YoY.

On shareholder payouts, the company declared an interim dividend of ₹4 per share. It also fixed 14 October 2026 as the record date for the interim dividend for FY27, based on the provided disclosure.

Additionally, the company stated it uploaded the audio recording of its Q2 and H1 FY27 earnings conference call to its website.

Guidance tracking and H1 FY27 performance at ARWL

For H1 FY27, Anand Rathi Wealth reported total revenue of ₹693 crore, up 17% YoY, and PAT of ₹238 crore, up 23% YoY. The PAT margin expanded to 34.3% from 32.8% in the prior-year period.

Management guidance for FY27 was cited as ₹1,415 crore of revenue and ₹460 crore of PAT, with an AUM guidance of ₹1,20,000 crore. The company highlighted that H1 results represent 49% of the full-year revenue guidance and 52% of the PAT guidance, and said guidance remains unchanged.

Different profit measures: adjusted versus reported numbers

One disclosure referenced “adjusted” consolidated PAT of ₹121.9 crore for Q2 FY27, up 22% YoY. The same information set also stated “reported profit” of ₹89.26 crore for the quarter, described as down about 10.6%.

Separately, another results update stated net profit was down 45.9% at ₹88.3 crore versus ₹163 crore, along with total income down 18.3% at ₹345 crore versus ₹422 crore, and noted a board-approved interim dividend of ₹4 per share. These figures were presented as consolidated and quarter-on-quarter (QoQ) highlights in the provided text.

Because these measures differ in definition and period comparison (YoY vs QoQ, adjusted vs reported), investors typically reconcile them using the company’s detailed statements and earnings call commentary.

Key numbers table: Q2 and H1 FY27 snapshot

Market impact: what these results indicate

For ARSSBL, the headline takeaway from the data provided is the faster growth in PAT (50.3% YoY) compared with revenue from operations (20.3% YoY) in Q2 FY27, alongside a 37% EBITDA margin. The H1 numbers continue a similar picture with a 38% EBITDA margin and a 16% PAT margin before exceptional items.

For Anand Rathi Wealth, Q2 FY27 showed PAT growth of 22.2% YoY on total revenue of ₹357 crore, while management also pointed to record net inflows of ₹4,186 crore and higher AUM of ₹1,08,377 crore. The company’s commentary that H1 is roughly half of its annual guidance frames the near-term focus around execution in the second half, while keeping guidance unchanged.

Conclusion: focus stays on margins and guidance execution

Across the disclosed updates, ARSSBL reported strong YoY profit growth with steady operating margins, while Anand Rathi Wealth highlighted profit growth, inflows, and progress against FY27 guidance. The next reference points for investors, based on the information provided, include follow-through on ARWL’s full-year targets and any further quarterly disclosures that reconcile adjusted and reported profit measures.