Anand Rathi Wealth Ltd. · NSE:ANANDRATHI
Anand Rathi Wealth — Q1 FY26 Earnings Presentation
45 slides from Anand Rathi Wealth's earnings presentation, 2025
Slide 1: Investor Presentation Quarter Ended 30th June 2025
INVESTOR PRESENTATION Q u a r t e r E n d e d 3 0 th J u n e 2 0 2 5 S t r a t e g i s e . B u i l d . G r o w. Over a decades of uncomplicating private wealth
Slide 2: Index
INDEX Consolidated Highlights Future Unlocking of India’s 3-8 wealth story 25-29 Private Wealth Business Annexures 9-21 30-45 New Businesses 22-24 2 Strategies. Build. Grow. OVER A DECADES UNCOMPLICATIONG PRIVATE WEALTH
Slide 3: Consolidated Highlights
ANANDRATHI Private Wealth. uncomplicated
Slide 4: Quick Glance
QUICK GLANCE (Rs. Crs.) Q1FY25 Q1FY26 Growth y/y% Revenue from Operations 237.6 274.0 15.3 Total Revenue 245.4 284.3 15.8 Employee Benefit Expenses 108.7 114.8 5.6 Other Expenses 37.7 43.1 14.3 Total Cost 146.4 157.9 7.8 PBT 99.0 126.4 27.6 PAT 73.4 93.9 27.9 PAT Margin (%) 29.9 33.0 EPS (Rs.) 8.8 1
Slide 5: Financial Performance for Q1 FY26
FINANCIAL PERFORMANCE FOR Q1 FY26 Total Revenue Trail Revenue Profit After Tax AUM (Rs. Crs.) (Rs. Crs.) (Rs. Crs.) & Margins (Rs. Crs.) 16% Y/Y 27% Y/Y 28% Y/Y 27% Y/Y 87,797 33.0% 29.9% 284 113 94 245 69,018 89 73 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Jun-24 Jun-25 5 Strategies. Build. Grow. O
Slide 6: Business Performance for Q1 FY26
BUSINESS PERFORMANCE FOR Q1 FY26 Net Inflows Monthly SIP Inflows Product wise AUM mix (Rs. Crs.) (Rs. Crs.) 51% 14% 75 69,018 87,797 3,825 15% 14% 3,364 7% 5% 50 24% 27% 54% 54% Jun-24 Jun-25 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Equity MF SP Debt MF Others 6 Strategies. Build. Grow. OVER A DECADES UNCOMPLICA
Slide 7: Market Share – Equity Mutual Fund
MARKET SHARE – EQUITY MUTUAL FUND* Industry ARWL Market Share 47% 18,372 72% 18,36,454 33,46,849 47,294 1.41% 53% 20,824 28% 7,14,313 1.02% 7,96,082 8,098 Mar-19 AUM Net Inflows MTM Gain June-25 AUM Mar-19 AUM Net Inflows MTM Gain June-25 AUM Mar-19 AUM June-25 AUM Industry AUM grew 4.2x, largely dr
Slide 8: Performance v/s Guidance
PERFORMANCE v/s GUIDANCE Actuals for Guidance given for FY26 Achieved % of Particulars Q1FY26 (Rs. Crs.) guidance (Rs. Crs.) Revenue 1175 284 24% Profit after tax 375 94 25% Asset under management (AUM) 1,00,000 87,797 88% Note: All the above numbers are on consolidated basis 8 Strategies. Build. Gr
Slide 9: Private Wealth Business
ANANDRATHI Private Wealth. uncomplicated
Slide 10: Key Operational Highlights for Q1FY26
KEY OPERATIONAL HIGHLIGHTS FOR Q1FY26 Relationship Active Client AUM Per RM Clients Per RM AUM (Rs. Crs.) Managers (Nos.) Families (Nos.) (Rs. Crs.) (Nos.) 224 85,742 32 12,330 29 67,291 10,382 382 187 360 Jun-24 Jun-25 Jun-24 Jun-25 Jun-24 Jun-25 Jun-24 Jun-25 Jun-24 Jun-25 10 Strategies. Build. Gr
Slide 11: Three Important Stakeholders
THREE IMPORTANT STAKEHOLDERS Employees • Near zero regret RM attrition 1 • Consistent incentive payout structure for last 18 years • Great place to work for consecutive 5 years • Robust capability-building exercise - Training of over 38,000 person-hours in FY25 3 Shareholders • Best ROE of 44%+ • Co
Slide 12: Rising Share: RMs Managing Higher AUM
RISING SHARE: RMs MANAGING HIGHER AUM Bucket wise AUM of RM Regret RM Attrition* June-24 June-25 124 153 2 77% 81% 0 65 68 Q1FY25 Q1FY26 68 88 13% 103 11% 73 One of the lowest regret RM attrition in 7% 6% the industry 3% 2% No. of RMs AUM (%) No. of RMs AUM (%) 12 Strategies. Build. Grow. OVER A DEC
Slide 13: Focused on More Rewarding HNI Segment
FOCUSED ON MORE REWARDING HNI SEGMENT Share in AUM 26.9% Rs. 50 Crores These were mostly HNIs when they were on- (12.3%) boarded and have subsequently elevated as & above UHNIs over a period 52.7% Target Segment – slower and difficult Rs. 5-50 Crores to build but more sustainable and (46.2%) scalabl
Slide 14: What Do Clients Seek From Wealth Management Firms?
WHAT DO CLIENTS SEEKS FROM WEALTH MANAGEMENT FIRMS? Survey of 4,888 investors Across locations, age groups and risk profiles Priorities as per survey results Best risk adjusted return 4,473 Top three priorities Risk Adjusted Returns Responsiveness & Services 2,997 Low Risk w.r.t. Nifty Client servic
Slide 15: ARWL Strategy to Achieve Client's Objectives
ARWL STRATEGY TO ACHIEVE CLIENT’S OBJECTIVES Target IRR of 14% -15% with Beta of 0.6 Other Objectives of clients leading to Jensen’s Alpha of 4% -5% Structured Restricting portfolio taxation to 15-16% Products - By deferment and utilizing tax provisions. Core Objective of clients (SPs -35%) Investme
Slide 16: Performance of ARWL Strategy Portfolio
PERFORMANCE OF ARWL STRATEGY PORTFOLIO Performance of the Portfolio since inception – Apr’14 to June’25 CAGR Growth in % Value of Rs.10 Cr Invested 65% EMF and 35% SP 16.57% 56.15 Portfolio Nifty 50 12.58% 37.97 Differential Performance 3.98% 18.18 Beta to Nifty 50 0.55 Jensen’s Alpha 6.72% Key Take
Slide 17: Different Product Audits
DIFFERENT PRODUCT AUDITS Clients often have significant wealth outside which is Assets Under Mutual Fund Audit Direct Influence (AUI) Real Estate Equity Audit Audit AUI : ~ Rs 1,70,000 Crs We conduct different product audits Lost Folio Insurance Audit to help clients / prospects to assess Audit how
Slide 18: Advantages of Client Vintage and Stickiness
ADVANTAGES OF CLIENT VINTAGE AND STICKINESS Client Vintage (Nos.) Client (AUM) Vintage Client Attrition (% of AUM lost) 10,382 12,330 67,291 85,742 21% 21% 40% 40% 0.11% 0.10% 79% 79% 60% 60% Jun-24 Jun-25 Jun-24 Jun-25 Q1FY25 Q1FY26 > 3 Year 0 to 3 Year > 3 year 0 to 3 year 18 Strategies. Build. Gr
Slide 19: Consistent & Market Agnostic Performance
CONSISTENT & MARKET AGNOSTIC PERFORMANCE ARWL (Consolidated) Sr. No. Period Nifty Performance PAT (Rs. Crs) Growth (Y/Y %) 1 Q1FY23 39.71 33.6% -9.6% 2 Q2FY23 42.95 41.1% 8.3% 3 Q3FY23 43.23 34.9% 5.9% 4 Q4FY23 42.71 23.4% -4.1% 5 Q1FY24 53.23 34.0% 10.5% 6 Q2FY24 57.69 34.3% 2.3% 7 Q3FY24 58.04 34.
Slide 20: Consistently Rewarding Shareholders
CONSISTENTLY REWARDING SHAREHOLDERS Interim Dividend Final Dividend Total Dividend Particular (Rs / Share) (Rs / Share) (Rs / Share) FY22 5.0 6.0 11.0 FY23 5.0 7.0 12.0 FY24 5.0 9.0 14.0 7.0 7.0 14.0 (Pre-bonus Rs. 21) Buyback of Rs 164.65 Crores (excluding charges & taxes) FY25 Bonus Issue in the r
Slide 21: Sources of Growth
SOURCES OF GROWTH Wallet share New RMs Greater asset share Addition of new from the existing relationship managers - client families addition of new cities 1 2 3 4 New clients Organic Addition of new Return on investment client families gets added to AUM 21 Strategies. Build. Grow. OVER A DECADES UN
Slide 22: New Businesses
ANANDRATHI Private Wealth. uncomplicated
Slide 23: Digital Wealth: Scaling Up with the Use of Technology
DIGITAL WEALTH: SCALING UP WITH THE USE OF TECHNOLOGY Customer Segment: Mass Affluent having existing financial assets: Rs. 10 lakhs – Rs. 5 Crs. AUM (Rs. Crs.) Clients (Nos.) 2,055 6,284 5,106 1,727 Jun-24 Jun-25 Jun-24 Jun-25 23 Strategies. Build. Grow. OVER A DECADES UNCOMPLICATIONG PRIVATE WEALT
Slide 24: OFA – Leveraging Technology to Cater to the Retail Segment
OFA – LEVERAGING TECHNOLOGY TO CATER TO THE RETAIL SEGEMENT Key Functionalities : Subscription Model, MFD and his Clients get access to our platform. (MFD/IFAs – Web + Mobile, MFD’s Clients – Mobile) MFD/IFA* (Nos.) Platform Assets (Rs. Crs.) Platform Clients (Nos. lakhs) 23 1,57,870 6,627 21 6,064
Slide 25: Future Unlocking of India's Wealth Story
Future Unlocking of India’s Wealth Story
Slide 26: Increasing Penetration of Mutual Fund Market in India
INCREASING PENETRATION OF MUTUAL FUND MARKET IN INDIA Assets managed by the Indian mutual fund industry Penetration of MF Industry (Equity AUM to GDP (Rs. Lakh Crs) Ratio - India V/S Other Economies)* 80.0% 74.4 54.0% 31.8% 32.4% 23.8 9.2% 10.2% 4.7% Mar-19 Jun-25 India Brazil Japan Germany UK USA W
Slide 27: Huge Market Potential
HUGE MARKET POTENTIAL Strong macro-economic trends and a growing HNI families expected to drive growth in the Indian wealth solutions space Indian Market Cap Data Equity Mutual Fund (Rs. Lakh Crs.) (Rs. Lakh Crs.) There is massive Interest in potential to equities has increase the share gone up as i
Slide 28: Financial Assets of Indian Households
FINANCIAL ASSETS OF INDIAN HOUSEHOLDS Total Equity Mutual Direct Small PF and Govt Financial Mutual Deposits Funds - Insurance Currency Equity Savings Pension Securities assets Funds Others Rs. Lakh Crs. 7.9 3.2 59.9 6.1 10.3 2.4 1.3 24.2 13.9 Mar-15 129.2 11.1 76.3 27.9 13.9 38.6 29.0 154.6 23.3 53
Slide 29: Flow of Annual Household Financial Savings
FLOW OF ANNUAL HOUSEHOLD FINANCIAL SAVINGS Gross Investments Non- Financial Bank Small PF and Govt Trade Mutual Funds (includes Banking Insurance Currency Savings (Rs. Deposits Savings Pension Securities Debt(Net) equity) Deposits Lakh Crs.) % Share 2013-14 11.9 1.3% 0.3% 53.7% 1.9% 0.7% 14.9% 17.2%
Slide 30: Annexures
ANANDRATHI Private Wealth. uncomplicated
Slide 31: Board of Directors
BOARD OF DIRECTORS Mr. Anand Rathi Mr. Pradeep Kumar Gupta Mr. Rakesh Rawal Chairman & Non-Executive Non-Executive Director Executive Director & CEO Director Mr. Mohan Tanksale Mr. Ramesh Chandak Mr. K. G. Somani Mrs. Sudha Navandar Independent Director Independent Director Independent Director Inde
Slide 32: Key Leadership Personnel
KEY LEADERSHIP PERSONNEL Mr. Rakesh Rawal Mr. Feroze Azeez Mr. Jugal Mantri Chief Executive Officer Joint Chief Executive Officer Group Chief Financial Officer Master’s Degree in Management Studies Post Graduate Diploma in Management – Rank holder Chartered Accountant and from the Jamnalal Bajaj Ins
Slide 33: Key Personnel – Business Heads
KEY PERSONNEL – BUSINESS HEADS Mr. Chethan Shenoy Mr. Rajesh Bhutara Mr. Niranjan Babu Head – Product and Chief Financial Ramayanam Research Officer (CFO) Chief Operating Officer Mr. Chirag Muni Ms. Tejal Shah Head – Business Chief Human Resource Process Officer 33 Strategies. Build. Grow. OVER A DE
Slide 34: Key Personnel – Unit Heads
KEY PERSONNEL – UNIT HEADS Mr. Arjun Guha Mr. Amitabh Lara Mr. Bharath Rathore Mumbai Mumbai Bengaluru Mr. Suraj Sinha Ms. Protima Dhawan Mr. Adil Chacko Bengaluru Hyderabad Delhi Mr. Manish Srivastava Mr. Swapan Chakraborty Mr. Subhendu Harichandan Delhi Pune Pune 34 Strategies. Build. Grow. OVER A
Slide 35: Key Personnel – Unit Heads
KEY PERSONNEL – UNIT HEADS Mr. Raj Vijeta Sharma Mr. Ashish Bhandia Mr. Rajan Sarkar Dubai Kolkata Kolkata Mr. Krishanu Chaudhary Mr. Mukesh Kumawat Mr. Farooq Nabi Chennai Gurugram Noida Mr. Harpreet Punj Mr. Sudhir Hiran Mr. Hrishikesh Palve Chandigarh Rajasthan Product 35 Strategies. Build. Grow.
Slide 36: ARWL Journey
ARWL JOURNEY 2007 2013 2016 2002 2012 2015 Started as a Mutual Rakesh Rawal, CEO Feroze Azeez Number of RMs Crossed AUM of ₹ Number of RMs Fund Distributor joined and started Joined and reached 50 5,000 Crores reached 100 Private Wealth introduced Structured Products as a ‘Plan B’ in Clients’ portfo
Slide 37: ARWL Journey
ARWL JOURNEY 2019 2023 2025 2018 2021 2024 Crossed AUM of ₹ Number of RMs Listed on BSE and Crossed AUM of ₹ Crossed AUM of ₹ Crossed AUM of ₹ 10,000 Crores. reached 200 NSE. Crossed AUM 35,000 Crores 50,000 Crores. 80,000 Crores. Number of RMs of ₹ 25,000 Crores Number of RMs Number of RMs reached
Slide 38: Geographical Presence
GEOGRAPHICAL PRESENCE 38 Strategies. Build. Grow. OVER A DECADES UNCOMPLICATIONG PRIVATE WEALTH
Slide 39: Historical Trends
HISTORICAL TRENDS Profit After Tax Revenue (Rs. Crs.) EPS (Rs.) AUM (Rs. Crs.) (Rs. Crs.) CAGR 23% CAGR 31% CAGR 31% CAGR 27% 301 36 981 77,103 284 59 7 18,393 FY19 FY25 FY19 FY25 FY19* FY25 Mar-19 Mar-25 All financial numbers are on Consolidated basis *EPS has been adjusted post bonus issue 1:1 in
Slide 40: Consolidated Profit & Loss Summary
CONSOLIDATED PROFIT & LOSS SUMMARY Particulars (Rs. Crs.) Q1 FY25 Q1 FY26 Y/Y % FY24 FY25 Y/Y % MF – Equity & Debt 89.0 113.1 27.1% 266.6 406.4 52.5% Distribution of financial products 147.1 159.3 8.3% 452.1 526.4 16.4% IT enabled services 1.5 1.6 5.4% 5.6 6.3 11.1% Others 7.8 10.2 31.2% 27.6 41.6 5
Slide 41: Consolidated Balance Sheet as on 31st March 2025
CONSOLIDATED BALANCE SHEET AS ON 31st March,2025 Assets (Rs. Crs) Mar-24 Mar-25 Equity & Liabilities (Rs. Crs) Mar-24 Mar-25 Non - Current Assets Total Equity Property Plant & Equipments 90.5 119.4 Share capital 20.9 41.5 CWIP 0.8 0.0 Other equity 627.9 632.5 Goodwill 2.9 2.5 Non-controlling interes
Slide 42: Historical Financials
HISTORICAL FINANCIALS Particulars (Rs. Crs.) FY21 FY22 FY23 FY24 FY25 MF – Equity & Debt 90.2 154.0 189.9 266.6 406.4 Distribution of financial products 170.6 258.8 353.9 452.1 526.4 IT enabled services 4.5 4.8 4.9 5.6 6.3 Others 13.9 7.7 10.3 27.6 41.6 Total revenue 279.2 425.2 558.9 752.0 980.7 Em
Slide 43: Historical Balance Sheet
HISTORICAL BALANCE SHEET Assets (Rs. Crs) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Equity & Liabilities (Rs. Crs) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Non - Current Assets Total Equity Property plant & equipments 7.2 80.8 92.5 90.5 119.4 Share capital 13.8 20.8 20.8 20.9 41.5 CWIP 69.0 - 0.0 0.8 0.0 Other e
Slide 44: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Anand Rathi Wealth Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any se
Slide 45: Anand Rathi Wealth Limited
Anand Rathi Wealth Limited CIN: L67120MH1995PLC086696 Mr. Rajesh Bhutara, CFO Mr. Vishal Sanghavi, Head IR rajeshbhutra@rathi.com vishalsanghavi@rathi.com Tel: 022 6281 7003 +91 98920 52454