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Anand Rathi Share and Stock Brokers Limited

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Anand Rathi Share and Stock Brokers reported a mixed Q1 FY27 performance, demonstrating resilience amidst market volatility while navigating a significant setback from fraud. Revenue increased by 22.4% year-over-year to ₹2,461 million, driven by growth in both broking and non-broking segments, and EBITDA rose by 30.2%. However, net profit declined 56% due to a ₹209.96 million exceptional fraud compensation expense, highlighting a material risk factor for investors. To support international expansion and offset this impact, the company is considering raising up to ₹500 crore through Non-Convertible Debentures and establishing a wholly-owned subsidiary in Dubai.