Anand Rathi Shares and Stock Brokers Limited announced strong financial results for the fourth quarter and full year ended March 31, 2026, demonstrating resilient performance amid challenging market conditions. The company held its earnings conference call on April 15, 2026, where management outlined key achievements and strategic progress.

Financial Performance Highlights

The company delivered impressive growth metrics for Q4 FY26, with several key performance indicators showing substantial improvement over the previous year.

For the full financial year 2026, the company reported consolidated revenue from operations of ₹9,322 million, reflecting a 10.2% year-on-year growth. EBITDA reached ₹3,796 million with a growth of 21.9%, while PAT stood at ₹1,293 million, representing a 24.8% increase. The full-year EBITDA margin was 40.7% and PAT margin was 13.8%.

Balanced Revenue Mix Strategy

Anand Rathi continued to execute its strategic focus on maintaining a balanced revenue portfolio between broking and non-broking segments. For Q4 FY26, the revenue contribution was 47% from broking and 53% from non-broking segments. The full-year mix stood at 51% for broking and 49% for non-broking, closely aligned with the company's targeted 50-50 split.

Within the broking segment, revenue from broking and related services reached ₹1,201 million in Q4 FY26, showing a 14.5% year-on-year growth. However, for the full year, broking revenue was ₹4,755 million, representing a 6.8% decline compared to the previous year. The revenue mix across equity cash, futures & options, and other segments maintained at 51%, 41%, and 8% respectively for the full year.

Strong Non-Broking Business Growth

The non-broking segment demonstrated robust performance across multiple verticals. Distribution income emerged as a key growth driver, reaching ₹353 million for Q4 FY26 and ₹1,129 million for the full year, reflecting strong year-on-year growth of 34.3% for the quarter and 44.1% for the full year.

The company's Margin Trading Facility (MTF) book demonstrated significant growth, reaching ₹11,019 million as of March 31, 2026, representing a 61% year-on-year increase. Notably, the company maintained zero NPA in its MTF portfolio, reflecting disciplined underwriting practices and strong risk management.

Key Business Developments

FY26 marked several significant milestones for Anand Rathi. The company completed its IPO in September 2025, raising ₹745 crores from investors, which strengthened its capital position and working capital requirements. The company also received a corporate agency license to distribute insurance products, adding life and health insurance to its product portfolio.

As of March 31, 2026, the company's total assets under custody stood at ₹944,155 million, representing approximately 16% year-on-year growth. The debt-to-equity ratio improved significantly to 0.62 from 1.8 in the previous year, providing enhanced financial flexibility.

Strategic Outlook and Dividend Proposal

Management outlined its continued focus on building long-term customer relationships and expanding the geographical network through strengthening branch networks and business partner ecosystems. The company aims to grow both broking and non-broking businesses in a disciplined manner, targeting 40-45% growth in non-broking and around 15% growth in broking revenue.

The board proposed a dividend of ₹5 per share, subject to shareholder approval. With approximately 42% of active clients associated with the company for over five years and 83% of active clients over 30 years of age, the company maintains a strong foundation for sustained growth.

Anand Rathi Share and Stock Brokers Limited announced robust consolidated financial results for Q4FY26 and FY26, demonstrating exceptional growth across key performance metrics. The company's board approved the audited financial results during their meeting on April 14, 2026, and recommended a final dividend of ₹5 per equity share, representing 100% of face value.

Outstanding Q4FY26 Financial Performance

The company delivered remarkable growth in Q4FY26 with revenue from operations expanding 28.10% year-on-year to ₹2,556.50 million. EBITDA surged 51.40% to ₹1,103.30 million, achieving a strong margin of 43.20%. Most notably, PAT witnessed exceptional growth of 125.70% to ₹415.50 million, translating to a PAT margin of 16.20%.

Strong Full Year FY26 Results

For the complete financial year FY26, the company maintained solid growth momentum with revenue from operations reaching ₹9,321.60 million, reflecting 10.20% year-on-year growth. EBITDA grew 21.90% to ₹3,795.80 million with a margin of 40.70%, while PAT increased 24.80% to ₹1,292.70 million, achieving a PAT margin of 13.80%.

Diversified Revenue Streams Drive Growth

The company's diversified business model demonstrated resilience with strong performance across segments. Interest on MTF grew 50.20% in Q4FY26 to ₹431.70 million, while distribution income increased 34.30% to ₹352.60 million. For FY26, Interest on MTF expanded 32.60% to ₹1,514.90 million and distribution income surged 44.10% to ₹1,128.70 million.

Strong Operational Metrics and Management Commentary

The company's operational metrics reflect robust business fundamentals with Assets under Management growing 20.60% year-on-year to ₹77,876.20 million and Margin Trading Facility book expanding 60.70% to ₹11,019.30 million. Assets under Custody increased 16.00% to ₹944,155.30 million, while total clients reached 999,186, representing 12.70% growth.

Mr. Pradeep Gupta, Chairman and Managing Director, highlighted the company's resilience during challenging market conditions, noting that non-broking businesses delivered meaningful growth despite a 6.80% dip in broking revenues for FY26. Mr. Roop Kishor Bhootra, Wholetime Director, emphasized the company's disciplined execution and sustainable long-term growth strategy across 307 cities in India.

Corporate Governance and Strategic Initiatives

The board approved several key corporate decisions including the re-appointment of Mr. Roop Kishor Bhootra and Mr. Vishal Jugal Laddha as Whole Time Directors for three-year terms from November 15, 2026, to November 14, 2029. The company also introduced the ARSSBL Employee Stock Option Plan 2026 with a maximum of 20,00,000 options and increased authorized share capital from ₹33 crores to ₹35 crores.

Comprehensive Investor Presentation Submitted

Following the financial results announcement, the company submitted a comprehensive investor presentation for Q4FY26 and FY26 to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The presentation provides detailed insights into the company's business performance, operational metrics, and strategic initiatives.

Earnings Conference Call and Regulatory Compliance

Following the financial results announcement, the company conducted an earnings conference call on April 15, 2026, to discuss Q4FY26 and FY26 performance with investors and analysts. The audio recording of the earnings call has been uploaded on the company's website, with the transcript to be shared with stock exchanges and uploaded on the website in due course.

Pursuant to Regulation 30 read with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published newspaper advertisements containing extracts of audited financial results for Q4FY26 and FY26. The publication appeared in The Economic Times (English edition), Maharashtra Times (Marathi edition), and Navbharat Times (Hindi edition), ensuring comprehensive regulatory compliance and stakeholder communication.