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Anand Rathi Share and Stock Brokers Q2 FY27 results: net profit up 50.3% to ₹41.94 crore, revenue up 20.3%
Anand Rathi Share and Stock Brokers Limited reported consolidated revenue of ₹273.21 crore for Q2 FY27, up 20.3% from a year earlier, with a net profit of ₹41.94 crore, up 50.3%. EBITDA margin narrowed to 36.5% from 40.8%, while basic EPS rose to ₹6.65 from ₹6.27.
Key points
- Consolidated Q2 FY27 revenue was ₹273.21 crore, up 20.3% from ₹227.20 crore in Q2 FY26.
- Net profit for the quarter was ₹41.94 crore, up 50.3% from ₹27.90 crore a year earlier.
- EBITDA was ₹99.86 crore, up 7.8%, while EBITDA margin fell 4.3 percentage points to 36.5% from 40.8%.
- Basic EPS was ₹6.65, up from ₹6.27 in the year-ago quarter and ₹3.71 in Q1 FY27.
- In H1 FY27, revenue was ₹519.32 crore and net profit was ₹65.29 crore, with EPS of ₹10.36 against ₹11.40 a year earlier.
How did Anand Rathi Share and Stock Brokers perform in Q2 FY27?
Anand Rathi Share and Stock Brokers reported consolidated revenue from operations of ₹273.21 crore for Q2 FY27, up ₹46.01 crore or 20.3% from ₹227.20 crore in Q2 FY26. Against Q1 FY27, revenue was higher by ₹27.11 crore, or 11.0%, from ₹246.10 crore. On a standalone basis, revenue was ₹272.74 crore, up 20.1%, with profit of ₹42.3 crore against ₹28.59 crore a year earlier.
EBITDA was ₹99.86 crore in the quarter, up 7.8% from ₹92.65 crore a year earlier and 2.6% from ₹97.30 crore in the previous quarter. EBITDA margin narrowed to 36.5% from 40.8% a year earlier, a fall of 4.3 percentage points, and from 39.5% in Q1 FY27, a fall of 3.0 percentage points.
Profit before tax was ₹56.15 crore, up 49.6% from ₹37.53 crore in the year-ago quarter and 78.9% from ₹31.38 crore in the previous quarter. Tax expense was ₹14.21 crore, up from ₹9.63 crore a year earlier. Net profit was ₹41.94 crore against ₹27.90 crore in Q2 FY26, and basic EPS was ₹6.65 against ₹6.27 and ₹3.71 respectively.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 273.21 | 246.10 | 227.20 | +20.3% | +11.0% |
| Other income | 0.25 | 0.45 | 1.30 | −80.8% | −44.4% |
| Total expenses | 217.31 | 194.18 | 190.97 | +13.8% | +11.9% |
| EBITDA | 99.86 | 97.30 | 92.65 | +7.8% | +2.6% |
| EBITDA margin | 36.5% | 39.5% | 40.8% | −4.3 pp | −3.0 pp |
| Profit before tax | 56.15 | 31.38 | 37.53 | +49.6% | +78.9% |
| Tax | 14.21 | 8.03 | 9.63 | +47.6% | +77.0% |
| Net profit | 41.94 | 23.35 | 27.90 | +50.3% | +79.6% |
| EPS (₹) | 6.65 | 3.71 | 6.27 | +6.1% | +79.2% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Anand Rathi Share and Stock Brokers' costs and profit?
Total expenses rose 13.8% to ₹217.31 crore from ₹190.97 crore in Q2 FY26, against revenue growth of 20.3%. Employee cost was the largest increase, up ₹22.02 crore or 31.1% to ₹92.93 crore, while other expenses rose ₹16.78 crore or 26.4% to ₹80.43 crore. Depreciation was ₹6.08 crore, down ₹0.43 crore from ₹6.51 crore, and there was no exceptional item in either quarter.
Finance costs fell ₹12.03 crore or 24.1% to ₹37.87 crore from ₹49.90 crore in Q2 FY26. Other income declined ₹1.05 crore or 80.8% to ₹0.25 crore from ₹1.30 crore. Tax expense was higher by ₹4.58 crore or 47.6% at ₹14.21 crore against ₹9.63 crore.
Against Q1 FY27, total expenses were higher by ₹23.13 crore or 11.9% at ₹217.31 crore. Employee cost rose ₹14.96 crore to ₹92.93 crore and other expenses rose ₹9.59 crore to ₹80.43 crore, while finance costs fell ₹2.06 crore to ₹37.87 crore. Q1 FY27 carried an exceptional charge of ₹21 crore; Q2 FY27 had none. Other income fell ₹0.20 crore to ₹0.25 crore, and tax expense rose ₹6.18 crore to ₹14.21 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 92.93 | 70.91 | +22.02 | +31.1% |
| Finance costs | 37.87 | 49.90 | −12.03 | −24.1% |
| Depreciation | 6.08 | 6.51 | −0.43 | −6.6% |
| Other expenses | 80.43 | 63.65 | +16.78 | +26.4% |
| Total expenses | 217.31 | 190.97 | +26.34 | +13.8% |
| Other income | 0.25 | 1.30 | −1.05 | −80.8% |
| Tax | 14.21 | 9.63 | +4.58 | +47.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹519.32 crore, up ₹91.01 crore or 21.2% from ₹428.31 crore in H1 FY26. Total income was ₹520.01 crore against ₹430.16 crore, an increase of ₹89.85 crore or 20.9%. The investor presentation showed H1 FY27 revenue of ₹5,193.2 Mn with an EBITDA margin of 38.0%.
Profit before tax for the first half was ₹87.53 crore, up ₹19.5 crore or 28.7% from ₹68.03 crore. Net profit was ₹65.29 crore, up ₹14.57 crore or 28.7% from ₹50.72 crore. Basic EPS was ₹10.36, down from ₹11.40 in H1 FY26, a fall of ₹1.04 or 9.1%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 519.32 | 428.31 | +21.2% |
| Profit before tax | 87.53 | 68.03 | +28.7% |
| Net profit | 65.29 | 50.72 | +28.7% |
| EPS (₹) | 10.36 | 11.40 | −9.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹4491.33 crore at 30 September 2026, against ₹7099.34 crore at 31 March 2026. Total equity was ₹1383.03 crore against ₹1348.13 crore, and borrowings were ₹1404.23 crore against ₹831.0 crore. Cash and cash equivalents stood at ₹85.69 crore against ₹79.03 crore, while trade receivables were ₹428.11 crore against ₹313.58 crore and trade payables were ₹1570.17 crore against ₹4783.2 crore.
In H1 FY27, net cash used in operating activities was ₹1803.13 crore, against net cash generated of ₹200.37 crore in H1 FY26. Investing activities provided ₹1338.19 crore, compared with ₹1121.6 crore used a year earlier, and financing activities provided ₹471.4 crore against ₹962.55 crore a year earlier. Capital expenditure was ₹18.22 crore against ₹9.35 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,491 | 7,099 |
| Total equity | 1,383 | 1,348 |
| Borrowings | 1,404 | 831 |
| Cash and equivalents | 85.69 | 79.03 |
| Inventories | 0 | 0 |
| Trade receivables | 428.11 | 313.58 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −1,803 | 200.37 |
| Cash from investing | 1,338 | −1,122 |
| Cash from financing | 471.40 | 962.55 |
| Capital expenditure | 18.22 | 9.35 |
Source: Company's results filing (XBRL).
How has Anand Rathi Share and Stock Brokers done over the last 6 quarters?
Revenue rose over each of the last six quarters, from ₹201.11 crore in Q1 FY26 to a peak of ₹273.21 crore in Q2 FY27. The lowest quarterly net profit in the series was ₹22.81 crore in Q1 FY26, and the highest was ₹41.94 crore in Q2 FY27. EBITDA margin peaked at 43.2% in Q4 FY26 and fell to 36.5% in Q2 FY27, after 39.5% in the previous quarter.
Revenue and profit each rose year on year in each of the last two quarters. In the latest quarter, revenue of ₹273.21 crore was the highest of the period shown, and net profit of ₹41.94 crore also reached the top of the range, while the margin narrowed from 40.8% in Q2 FY26 to 36.5%.
What else did the company announce?
On 13 October 2026, the board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the limited review report of R Kabra & Co LLP. The same day, the company filed an investor presentation for the quarter and half year with the exchanges. The board outcome filing did not record a dividend, a fund raise or any appointment.
What did Anand Rathi Share and Stock Brokers' management say?
Management cited subdued capital-market sentiment from geopolitical tensions, rising rates and El Nino, the impact of an RBI circular on capital-market exposure of about ₹300 crore, and higher employee cost from insourcing outsourced staff and expanding the relationship manager base. Roop Kishor Bhootra said: "Our NPA into MTF book is zero. We have started this activity 8 years back, and so far in last 8 years, we are able to maintain it at zero, and we will able to continue the manage the risk related to this MTF book."
How did Anand Rathi Share and Stock Brokers shares react?
The filing came after market hours, and the stock fell 3.8% within 5 minutes, 4.4% within 15 minutes and 4.9% within 30 minutes. On the reaction day it closed 5.9% below the previous close of ₹545.95. By the next day's close the stock was down 7.6% from its pre-results close, and by the fifth day's close it was down 16.1%.
The Stockbroking & Allied industry median fell 0.2% on the reaction day, 0.5% by the next day and 5.4% by the fifth day, so the stock moved 5.7 percentage points below the sector on the reaction day, 7.1 percentage points below by the next day and 10.7 percentage points below by the fifth day. Earlier reaction-day moves were 5.3% lower on 14 July 2026, 1.0% higher on 14 April 2026, 2.6% higher on 14 January 2026 and 3.6% lower on 18 October 2025.
| After the filing | Stock | Stockbroking & Allied median |
|---|---|---|
| 5 minutes | −3.8% | |
| 15 minutes | −4.4% | |
| 30 minutes | −4.9% | |
| Reaction day | −5.9% | −0.2% |
| Next day | −7.6% | −0.5% |
| 5 days | −16.1% | −5.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 14 July 2026 | −5.3% |
| 14 April 2026 | +1.0% |
| 14 January 2026 | +2.6% |
| 18 October 2025 | −3.6% |
Source: MarketPing price-reaction measurement.
How did other Stockbroking & Allied companies do?
Twenty-seven other Stockbroking & Allied companies had filed for the quarter as of 4 November 2026, with a median revenue growth of 11.8%. Of those, 16 grew revenue more slowly than Anand Rathi Share and Stock Brokers and 11 grew faster. Among the 26 peers compared on profit, 15 reported higher profit than a year earlier.
| Anand Rathi Share and Stock Brokers revenue growth (YoY) | +20.3% |
|---|---|
| Median of 27 other Stockbroking & Allied companies | +11.8% |
| Companies with slower revenue growth than Anand Rathi Share and Stock Brokers | 16 of 27 |
| Companies with faster revenue growth than Anand Rathi Share and Stock Brokers | 11 of 27 |
| Companies whose net profit rose | 15 of 26 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Anand Rathi Share and Stock Brokers' revenue in Q2 FY27?
Revenue from operations was ₹273.21 crore, up 20.3% from ₹227.20 crore in Q2 FY26 (consolidated).
Did Anand Rathi Share and Stock Brokers make a profit in Q2 FY27?
Yes. Net profit was ₹41.94 crore, against a net profit of ₹27.90 crore in Q2 FY26.
What was Anand Rathi Share and Stock Brokers' EPS in Q2 FY27?
Basic earnings per share were ₹6.65, against ₹6.27 in Q2 FY26.
How did Anand Rathi Share and Stock Brokers shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.9% from the previous close; the median Stockbroking & Allied stock moved −0.2%.
When did Anand Rathi Share and Stock Brokers announce its Q2 FY27 results?
On 13 October 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 13 October 2026) · PDF
- The earnings call (21 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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