Anand Rathi Wealth Ltd share Price Today

Capital Markets company Anand Rathi Wealth announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• The Company reported a net profit of Rs 57 crore for Q4FY24, marking a significant 33% increase over the Rs 42.7 crore from Q4FY23.
• The company's revenue rose by 34% YoY, reaching Rs 197 crore in Q4FY24 compared to Rs 147.1 crore in Q4FY23.

FY24 Financial Highlights:

• There was a 35% surge in the company's revenue during FY24, totaling Rs 752 crore, up from Rs 558.9 crore in FY23.
• For FY24, the consolidated net profit ascended by 34% to Rs 226 crore from Rs 168.6 crore in the previous year.
• The EPS increased by 34% YoY to Rs 54.1 for the full year.
•  AUM expanded by a notable 52% to Rs 59,351 crore in FY24 from Rs 38,993 crore in FY23.
• The Board of Directors recommended a Final dividend of Rs 9 per Equity Share, bringing the total dividend for FY24 to Rs 14 per Equity Share.
• The Board approved a share buy-back of up to 3,70,000 Equity Shares at Rs 4,450 per share, allocating an aggregate amount not exceeding Rs 164.65 crore.
• The company achieved an ROE of 40% for FY24.
• The company witnessed an escalation of 41% in net inflows, reaching Rs 7,182 crore in FY24.
• Equity Mutual Fund net inflows surged by 47% YoY to Rs 4,628 crore.

Private Wealth (PW) (Holding Company):

• The Private Wealth vertical saw a revenue increase of 34% to Rs 720 crore.
• Private Wealth(PW) Profit After Tax grew by 32% to Rs 221 crore.
• Private Wealth AUM surged by 52% to approximately Rs 57,807 crore.
• The number of active client families rose by 19% to 9,911.

Digital Wealth (DW) and Omni Financial Advisors (OFA):

• Digital Wealth observed a 64% increase in revenue to Rs 25 crore.
• AUM in DW grew by 47% to Rs 1,545 crore. 
• Omni Financial Advisors reported a revenue growth of 17% to Rs 7 crore.
• OFA increased its subscriber base to 5,994 mutual fund distributors.

Commenting on the results, Rakesh Rawal, Chief Executive Officer, said, "Amidst a fluctuating global economic environment, the Indian economy has emerged as a pillar of stability and hope. Despite the challenges posed by geopolitical tensions, the resilience of the Indian equity capital markets has been noteworthy, contributing significantly to wealth generation and the robust growth of the wealth management sector. Anand Rathi Wealth’s exemplary performance, evidenced by a commendable 52% YoY increase in our consolidated Assets Under Management (AUM) to Rs 59,351 crore, exemplifies this trend. This growth not only highlights our firm's adeptness in navigating market volatilities but also our unwavering dedication to our clients’ wealth enhancement. For the financial year 2024, we are pleased to report a remarkable increase in revenue by 35% YoY, reaching Rs 752 crore, and our Profit After Tax (PAT) surged by 34% YoY to Rs 226 crore, exceeding the forecasts for the fiscal year. In accordance with our policy to reward shareholders, the Board has declared a final dividend of Rs 9 per equity share, culminating in a total annual dividend of Rs 14 per equity share, alongside a share buy-back program valued at Rs 164.65 crore. Our strategy, centered on offering straightforward, comprehensive, and uniform solutions, has been a cornerstone of our strong and enduring growth. We are confident in our future, projecting a continued growth trajectory of 20–25%.”

Commenting on the results, Feroze Azeez, Deputy Chief Executive Officer, said, "In FY24, total net inflows saw an impressive increase of 41% YoY, amounting to Rs 7,182 crore. Furthermore, equity net inflows experienced a 47% YoY growth, reaching Rs 4,628 crore. This growth underscores the deep trust and confidence our clientele place in our capabilities to guide them towards achieving their financial aspirations. Our approach, grounded in meticulous data-driven research and a thorough understanding of client needs and associated risks, has been instrumental in this success. Our client-centric focus is further evidenced by maintaining our client attrition rate at approximately 1% in terms of AUM lost for the fiscal year 2024. Anand Rathi Wealth prides itself on cultivating an entrepreneurial culture, underlining the pivotal role of our Relationship Managers in propelling our growth. Our dedication to talent development and retention has been proven by the achievement of zero regrettable Relationship Manager attrition for three consecutive quarters. We are optimistic about the future of the wealth management industry, buoyed by factors such as increasing wealth, changing investor preferences, and technological innovations. These elements promise to revolutionize the wealth management domain, offering substantial growth and opportunities.”

Result PDF