Anand Rathi Wealth Limited held its Q2 and H1 FY27 earnings conference call on October 12, 2026. The management team, led by Joint CEO Mr. Feroze Azeez, CFO Mr. Rajesh Bhutara, and Head of Investor Relations Mr. Vishal Sanghavi, presented the financial and operational performance.

Financial Performance

  • H1 FY27 Performance: Consolidated Profit After Tax (PAT) grew by 23% year-on-year to INR 238 crores, excluding non-business-related items, fair value gains, and ESOP expenses. Revenue increased by 17% year-on-year to INR 693 crores.
  • Q2 FY27 Performance: Net profit was INR 122 crores, representing a 22% year-on-year growth. Revenue for the quarter rose by 16% to INR 357 crores.
  • Guidance Achievement: For H1 FY27, the company achieved 49% of its full-year revenue guidance of INR 1,415 crores and 52% of its PAT guidance of INR 460 crores.
  • Dividend Declaration: The Board of Directors declared an interim dividend of INR 4 per share.

Operational Highlights

  • Record Net Flows: The company achieved its highest ever quarterly net flows of INR 4,186 crores, up 39% from the corresponding quarter in FY26.
  • Equity Mutual Fund Flows: Record quarterly equity mutual fund net flows of INR 2,867 crores, also up 39% year-on-year.
  • Client Acquisition: September 2026 saw the highest ever monthly client acquisition, though specific numbers were not quantified in the disclosure.
  • Client Metrics: Total client families reached 14,309, with a net addition of 1,500 new client families over the last 12 months. Client attrition rate remained low at 0.17% for Q2 FY27 and 0.26% for H1 FY27.
  • RM Attrition: The company experienced only two relationship manager attritions in H1 FY27, with one considered a regret attrition.

Business Segment Performance

  • Digital Wealth Business (B2B2C): AUM grew by 14% year-on-year to INR 2,531 crores. The number of clients increased by 15% to 7,584.
  • Omni Financial Advisor (OFA) Business: A SaaS platform with 6,898 subscribers and platform assets of INR 1.66 crores as of September 2026.

Expansion and New Initiatives

  • International Operations: The company commenced operations in London, UK, and received regulatory approvals to begin operations in GIFT City, India.
  • Mutual Fund License: Management confirmed plans to apply for a mutual fund license by the end of October 2026.
  • GIFT City Plans: The company plans to launch two funds through its GIFT City entity within the next 2-3 months, focusing on attracting global capital to Indian investment propositions.

Financial and Operational Metrics

  • Non-Cash Charges: ESOP and mark-to-market charges for Q2 FY27 were INR 46 crores, compared to zero in the corresponding quarter of the previous year.
  • Structured Products (MLDs): Primary issuances for the quarter were INR 2,073 crores, with secondary market activity at INR 750 crores. The company emphasized that no product has lost money at maturity since inception in December 2012.
  • AUM Growth: Total AUM reached approximately INR 1.08 lakh crores, with an 18% year-on-year growth. The company targets INR 1.2 lakh crores for FY27 and net flows of INR 6,000-8,000 crores for the remainder of the year.
  • Revenue Sources: Approximately 62% of net flows came from existing clients, while 38% were from new clients.

Management Commentary and Strategy

Management emphasized a focus on delivering consistent client outcomes through Jensen's Alpha, capacity utilization, and penetration into existing client wallets. The company remains committed to its core principles of home-growing clients and colleagues, avoiding cold calling, and relying on referrals and website leads for client acquisition.

Regulatory and Compliance

The disclosure was made pursuant to regulatory requirements, though specific regulation references were not cited in the transcript.