Anand Rathi Q1 FY27: Growth broadens beyond broking, even as reported PAT is hit by a one off

Revenue from operations was INR 246.10 crore, EBITDA was INR 97.30 crore, PAT before exceptional items was INR 39.06 crore, and PAT after exceptional items was INR 23.35 crore.

For the quarter ended June 30, 2026, management disclosed the mix as 52% broking and related services, 18% interest on MTF, 11% distribution income, and 19% other income from operations.

Assets under custody were INR 1,13,090.9 crore (up 21.4% YoY), distribution AUM was INR 9,479.1 crore (up 25.8% YoY), and the MTF book was INR 1,331.846 crore (up 54.6% YoY).

Management stated an exceptional expense of about INR 20.996 crore was recognized towards restoration of securities of two clients impacted by fraudulent off-market transfer in the depository segment.

Management guided the MTF book to reach around INR 1,750 crore to INR 1,800 crore by end of FY27, and distribution AUM is targeted to scale by 40%.

Management stated the MTF book is not being allocated towards F&O usage and is largely for the cash segment, and also highlighted diversification of outstanding amounts across client buckets.

Management stated the company plans to create a subsidiary in Dubai to serve NRI demand from the UAE region, and also noted it already has a subsidiary listed and active in GIFT City.