Anand Rathi Share and Stock Brokers Limited has informed the Exchange about Credit Rating- Revision
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CARE Ratings Limited has upgraded the credit ratings for Anand Rathi Share and Stock Brokers Limited across all its debt instruments. The long-term/short-term bank facilities (INR 1,400 crore) have been upgraded from CARE A-; Stable / CARE A1 to CARE A; Stable / CARE A1+. Market linked debentures (INR 50 crore) upgraded from CARE PP MLD A-; Stable to CARE PP-MLD A; Stable. Commercial paper (INR 200 crore) upgraded from CARE A1 to CARE A1+. The upgrade reflects a significant equity infusion of approximately INR 745 crore through the company's IPO in September 2025, which has strengthened the capital base and improved leverage metrics. Tangible net worth increased from INR 495 crore (March 2025) to INR 1,335 crore (December 2025), reducing overall gearing from 2.59x to 0.90x.
The rating upgrade reflects improved financial health and capital position following the IPO equity infusion. This signals lower credit risk and stronger debt servicing ability, which is positive for investors and lenders. The improved leverage metrics and diversified revenue profile (with non-broking income now at 52.76% in 9MFY26) provide greater earnings stability.