17 Oct 2025 | 5 Mins Read
Motilal Oswal maintains a Neutral stance on Anand Rathi Wealth
Flipitmoney
Anand Rathi Wealth reported operating revenue of ~INR3b in 2QFY26, up 23% YoY, driven by 28% YoY growth in financial product distribution and 16% YoY growth in MF revenue. EBITDA grew 32% YoY to INR1.4b, with EBIDTA margin at 46.2%. PAT stood at INR999m, up 31% YoY. A CAGR of 25% in AUM and 27% in PAT is expected during FY25-28E, maintaining a Neutral rating with a one-year TP of INR2,800.