Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Valuation 
Analyst Note 
Qtr. Results 
Financials 
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About
Anand Rathi Share & Stock Brokers Ltd (ARSSBL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544530 NSE: ARSSBL Finance - Stock Broking | Small Cap | Anand Rathi Share Share Price
₹515.35 14.85 (2.97%)
As on 30-Sep'26 16:59
Anand Rathi Share & Stock Brokers Ltd (ARSSBL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544530 NSE: ARSSBL Finance - Stock Broking | Small Cap | Anand Rathi Share Share Price
₹515.35 14.85 (2.97%)
As on 30-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹3,156 Cr.
Current Price
₹515.4
52-Week Low / High
₹414 / 795
TTM EPS
₹20.6
TTM Sales
₹977 Cr.
Book Value per Share
₹215.7
P/E Ratio
24.32
In line with its 5-year historical median
Industry PE
46.8
Price to Book (P/B)
2.32
In line with its 5-year historical median
Price to Sales (P/S)
3.23
In line with its 5-year historical median
EV/EBITDA
1.17
Lower than its 5-year historical median
Dividend Yield
0.97%
Profitability Efficiency
Return on Equity (ROE)
14.11%
Outperforms industry median
Return on Capital Employed (ROCE)
19.72%
Outperforms industry median
Return on Assets (ROA)
2.47%
Operating Profit Margin
40.7%
Net Profit Margin
13.87%
Gross Profit Margin
21.2%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
10.42%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
21.95%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
24.77%
Asset Quality
Promoter Holding
69.62%
Pledged shares (%) of Promoter's holding (%)
6.15%
Reserves
₹1,329 Cr.
Equity
₹31.5 Cr.
Face Value
₹5
All Time Low / High
₹414.25 / 795.10
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Anand Rathi Share & Stock Brokers Ltd a good quality company?
Anand Rathi Share & Stock Brokers Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Anand Rathi Share & Stock Brokers Ltd performance compare with that of its Peers?
Revenue growth of Anand Rathi Share & Stock Brokers Ltd vs industry peers?
Anand Rathi Share & Stock Brokers Ltd revenue CAGR is 44.67%, compared to the industry median CAGR of 7.46%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Anand Rathi Share & Stock Brokers Ltd?
Promoters hold 69.62% of the Anand Rathi Share & Stock Brokers Ltd, with 6.15% of their stake pledged, indicating low pledge risk.
Stock return of Anand Rathi Share & Stock Brokers Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 16.4% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Anand Rathi Share & Stock Brokers Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 14.3% | 31.5% | 8.9% | 9.7% | 12.1% | 24.8% | 17% | 21.7% | 21.3% | 19.8% | - |
| Value Creation Index ⓘ | 0.0 | 1.3 | -0.4 | -0.3 | -0.1 | 0.8 | 0.2 | 0.6 | 0.5 | 0.4 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 150 | 218 | 199 | 246 | 303 | 423 | 468 | 681 | 844 | 931 | 976 |
| Sales YoY Gr. | - | 45% | -8.5% | 23.3% | 23.2% | 39.9% | 10.5% | 45.7% | 23.8% | 10.4% | - |
| Adj EPS ⓘ | 2 | 5.9 | 1.9 | 2.3 | 4.6 | 12.7 | 9.7 | 17.7 | 23.4 | 21 | 20.9 |
| YoY Gr. | - | 186.8% | -67.5% | 23.2% | 95.3% | 177.7% | -23.9% | 83.4% | 32.1% | -10.3% | - |
| BVPS (₹) ⓘ | 29.5 | 35.3 | 37.2 | 39.4 | 44.2 | 56.5 | 66.1 | 89.1 | 112.2 | 213.9 | 216.5 |
| Adj Net Profit ⓘ | 5.3 | 15.3 | 5 | 6.8 | 13.2 | 51.2 | 39 | 78.6 | 104 | 132 | 132 |
| Cash Flow from Ops. ⓘ | 88.3 | -97.2 | 91.2 | 225 | 25.4 | -38.6 | 14.9 | 188 | 674 | 745 | - |
| Debt/CF from Ops. ⓘ | 0.2 | -2.2 | 3.4 | 1 | 7.4 | -7.2 | 28.5 | 4.7 | 1.4 | 1.1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 22.5% | 25.2% | 25.8% | 10.4% | ||||
| Adj EPS ⓘ | 29.6% | 35.7% | 29.6% | -10.3% | ||||
| BVPSⓘ | 24.7% | 37.1% | 47.9% | 90.7% | ||||
| Share Price | - | - | - | 15.6% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 7.2 | 18.1 | 5.2 | 6.4 | 10.9 | 28.8 | 15.8 | 23.7 | 23.3 | 14.3 | 9.7 |
| Op. Profit Mgn % ⓘ | -4.6 | 11.7 | 1.5 | 18 | 16.4 | 26.9 | 24.9 | 34 | 36.9 | 41 | 41.3 |
| Net Profit Mgn % ⓘ | 3.6 | 7 | 2.5 | 2.8 | 4.4 | 12.1 | 8.3 | 11.5 | 12.3 | 14.2 | 13.5 |
| Debt to Equity ⓘ | 0.2 | 2.4 | 3.2 | 2.1 | 1.5 | 1.2 | 1.6 | 2.2 | 1.8 | 0.6 | - |
| Working Cap Days ⓘ | 1,064 | 984 | 1,428 | 951 | 448 | 357 | 444 | 262 | 151 | 531 | 1,116 |
| Cash Conv. Cycle ⓘ | -1,098 | -940 | -588 | -1,110 | -1,361 | -1,298 | -526 | -398 | -991 | -2,207 | 242 |
Valuation of Anand Rathi Share - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 5.47 | 6.15 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|
| Income + | 107 | 146 | 159 | 424 | 469 | 683 | 847 | 934 |
| Exceptional Items ⓘ | 5 | 8 | 12 | 0 | 1 | 1 | 1 | 2 |
| Expenditure ⓘ + | 125 | 150 | 151 | 360 | 418 | 568 | 707 | 763 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -18 | -4 | 7 | 64 | 51 | 115 | 140 | 172 |
| Taxes ⓘ | -6 | -2 | 2 | 13 | 13 | 38 | 37 | 42 |
| Profit After Tax | -13 | -2 | 5 | 51 | 38 | 77 | 104 | 129 |
| Adjusted EPS (₹) | -4.8 | -0.7 | 1.8 | 12.6 | 9.4 | 17.4 | 23.4 | 20.6 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 24.30% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital + | 72 | 67 | 72 | 227 | 265 | 393 | 504 | 1,348 | ||
| Short term borrowings | 94 | 111 | 92 | 0 | 307 | 654 | 879 | 805 | ||
| Long Term Borrowings | 3 | 47 | 60 | 292 | 126 | 275 | 49 | 50 | ||
| Current Liabilities | 381 | 435 | 656 | 814 | 1,230 | 1,918 | 2,812 | 5,702 | ||
| Trade Payables | 268 | 309 | 548 | 774 | 879 | 1,200 | 1,825 | 4,783 | ||
| Other Liabilities | -362 | -421 | -640 | -774 | -1,186 | -1,854 | -2,704 | -5,589 | ||
| Total Liabilities ⓘ | 456 | 549 | 788 | 1,333 | 1,621 | 2,585 | 3,365 | 7,099 | ||
Assets | ||||||||||
| Non Current Asset + | 74 | 73 | 85 | 89 | 63 | 76 | 770 | 1,203 | ||
| Current Asset + | 382 | 476 | 703 | 1,244 | 1,558 | 2,509 | 2,595 | 5,896 | ||
| Total Assets ⓘ | 456 | 549 | 788 | 1,333 | 1,621 | 2,585 | 3,365 | 7,099 | ||
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 28 | 71 | 106 | -17 | 15 | 187 | 692 | 725 |
| Cash Flow From Investing Activity ⓘ | 28 | -4 | -2 | -79 | -137 | -599 | -577 | -1,146 |
| Cash Flow From Financing Activity ⓘ | 100 | 150 | -1 | 112 | 108 | 419 | -112 | 462 |
| Net Cash Flow ⓘ | 156 | 217 | 103 | 16 | -13 | 6 | 2 | 41 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios | ||||||||||
| EPS (₹) | -14.40 | -2.10 | 5.50 | 37.80 | 18.70 | 17.40 | 23.40 | 20.60 | ||
| DPS (₹) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | ||
| BVPS (₹) | 82.8 | 77.2 | 82.7 | 169.2 | 131.6 | 88.5 | 111.6 | 213.2 | ||
Performance Ratios | ||||||||||
| ROA (%) | -2.8 | -0.4 | 0.7 | 4.8 | 2.6 | 3.7 | 3.5 | 2.5 | ||
| ROE (%) | -17.4 | -2.6 | 6.9 | 34.0 | 15.3 | 23.5 | 23.4 | 14.1 | ||
| ROCE (%) | -5.6 | 4.8 | 8.7 | 29.6 | 16.7 | 21.4 | 21.3 | 19.7 | ||
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2.0 | ||
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Anand Rathi Share & Stock Brokers Ltd FAQs
The current trading price of Anand Rathi Share on 30-Sep-2026 16:59 is ₹515.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Sep-2026 the market cap of Anand Rathi Share stood at ₹3,156.5 Cr
The latest P/E ratio of Anand Rathi Share as of 29-Sep-2026 is 23.92.
The latest P/B ratio of Anand Rathi Share as of 29-Sep-2026 is 2.31.
The 52-week high of Anand Rathi Share is ₹795.1 and the 52-week low is ₹414.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Anand Rathi Share is ₹976 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Anand Rathi Share & Stock Brokers Ltd is a average quality company.
The key valuation ratios of Anand Rathi Share & Stock Brokers Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Anand Rathi Share & Stock Brokers Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Anand Rathi Share & Stock Brokers Ltd
Anand Rathi Share and Stock Brokers Limited was originally incorporated as ‘Navratan Capital and Securities Private Limited’, at Mumbai as a private limited company on November 22, 1991. The company got converted into a public limited company pursuant to a Board resolution dated January 10, 2007 and a special resolution passed by the Shareholders on February 05, 2007, and the name of the company was changed to ‘Navratan Capital and Securities Limited’. Subsequently, the name of the company was changed from ‘Navratan Capital and Securities Limited’ to ‘Anand Rathi Share and Stock Brokers Limited’, pursuant to a Board resolution dated August 26, 2007 and a special resolution passed by the Shareholders on October 26, 2007.
The company is an established full-service brokerage house in India. It provides broking services, margin trading facility and distribution of financial products under the brand ‘Anand Rathi’ to a diverse set of clients across retail, high net worth individuals, ultra-high net worth individuals and institutions. Its investment offerings span across a wide array of asset classes like equity, derivatives, commodities, and currency markets. Its years of track record and comprehensive product offerings, positions the company for continued growth.
The company is a part of the Anand Rathi group which carries out a diverse range of financial services business through its group companies. The company’s multi-channel presence through its pan India branches and network of Authorised Persons and its online and digital platforms enables the company to service its clients across Tier 1, Tier 2, Tier 3 and other cities. The company provides its clients digital and online platforms through its proprietary website and mobile applications which enables a seamless trading and investment experience for its clients.
Business area of the company
The company provides broking services, margin trading facility and distribution of financial products under the brand ‘Anand Rathi’ to a diverse set of clients across retail, high net worth individuals, ultra-high net worth individuals and institutions. The company is a part of the Anand Rathi group which carries out a diverse range of financial services business through its group companies.
Services of the company
- Broking Services: Its broking services cater to a diverse set of clients across a wide array of asset classes like equity, derivatives, commodities, and currency markets.
- Margin Trading Facility: It provides margin trading facility to enable its clients to leverage their eligible collaterals, by funding their trading requirements in the equity cash delivery segment.
- Distribution of investment products: It provides distribution of third-party financial products such as schemes of mutual funds, alternative investment funds, structured products, corporate fixed deposits, non-convertible debentures and bonds, and distribution of portfolio management services through its relationship management team and digital platforms.
Awards, accreditations and recognition
- 2018: Top volume performer in Equity Retail Segment 2017-2018 by BSE.
- 2018: Best Outreach Partner of The Year 2019 by MCX.
- 2021: BFSI Digital Innovation Award for Analytics/ Big Data Category at the BFSI Conclave.
- 2021: Dream Companies to Work for Award at 29th World HRD Congress 2021.
- 2021: The Great Indian Digital Marketing Campaign of the Year for Kitne Mein Diya Campaign at The Great Indian Marketing Awards 2021.
- 2022: Anand Rathi recognized as ‘Best BFSI Brands’ by Economics Times.
- 2022: Great workplace by Great Place to Work, India.
- 2022: Best Equity Advisors, at World BFSI Congress and Awards 2022.
- 2022. Finnoviti award 2022 for 'Kaagaz' Digital initiative for Investor Education.
- 2022: Sahi Investing ki Baat RAP wins Silver at the - 11th ACEF Asian Leaders Awards.
- 2022: Sahi Investing Ki Baat RAP Wins Special Mention in the Creative Campaign Category at Social Stars Awards Held by Inkspell.
- 2024: Great workplace by Great Place to Work, India.
- 2025: Great workplace by Great Place to Work, India.
- 2025: One of India’s Best Workplaces in Investment by Great Place to Work, India.
- 2025: Awarded in Customer Experience Category by Express BFSI Technology Awards 2025.
- 2025: Best IT Technology Project and Team at 2nd Edition Cybersec Innovation Summit and Awards, 2025.
- 2025: Recognised as Leading Member Participating in Base Metal at MCX Awards 2025.
History and milestones
- 1991: The company was incorporated as ‘Navratan Capital and Securities Private Limited, with Pradeep Navratan Gupta being appointed as a Director of the company.
- 2000: Registered as a depository participant with NSDL.
- 2000: Registered with SEBI as a Clearing Member of NSE.
- 2003: Registered as AMFI Registered Mutual Fund Advisor with Association of Mutual Funds in India
- 2005: Obtained membership of BSE Limited.
- 2008: Commenced currency derivatives broking.
- 2008: Entered into an agreement with National Securities Clearing Corporation Limited for participating in the securities lending program.
- 2017: Commenced providing margin trade facility.
- 2017: Started mobile application for distribution.
- 2018: Commenced commodity broking business.
- 2020: Commenced distribution of portfolio management services.
- 2022: Anand Rathi International Ventures (IFSC) Private Limited, a subsidiary of the company, was granted certificate of registration by International Financial Services Centres Authority as a bullion trading member.
- 2022: Commenced providing algorithmic trading services.
- 2023: Designated as a Qualified Stock Broker by SEBI.
- 2024: Received CARE A- Stable rating for long term bank facilities and CARE A1 rating for short term facilities.
- 2025: Received certificate of registration as Insurance Corporate Agent (Composite) under Registration of Corporate Agents - Regulations, 2015.
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