On Monday, shares of a leading wealth management and financial product distribution company rose by 4.2% to reach an intraday high of ₹4,185 per share, after the company reported a 33 percent year-over-year increase in Q4 net profit.
At 11:40 a.m., Anand Rathi Wealth Ltd shares were trading at ₹4,127 per share, up 2.96 % on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹17,261 crore.
Anand Rathi Wealth Limited announced a consolidated net profit of ₹57 crores for the quarter ending March 2024 (Q4FY24), marking a 33% rise from ₹43 Crores recorded in Q4FY23. Additionally, the company’s total revenue for the same quarter surged by 34%, reaching ₹197 crores compared to ₹147 crores in the previous year’s corresponding quarter.
For the fiscal year 2023-24, the company reported a consolidated net profit of ₹226 Crores, up 34% from ₹169 Crores in FY22-23. Similarly, the total revenue for the fiscal year grew by 35%, standing at ₹752 crores compared to ₹559 crores in the previous fiscal year. As per the company’s filing.
The Board of Directors has recommended a final dividend of ₹9 per equity share with a face value of ₹5 each for the fiscal year 2023-24. This brings the total dividend for the year to ₹14 per equity share, inclusive of an interim dividend of ₹5 per equity share.
Additionally, the Board has approved a buyback proposal to repurchase up to 3,70,000 equity shares at ₹4,450 per share, amounting to a total not exceeding ₹164.65 Crores. This represents 0.88% of the total paid-up equity share capital.
The Assets Under Management (AUM) have surged by 52% to ₹57,807 Crores, and the number of active client families has grown by 19% to 9,911 for FY:2023-24 compared to the previous year. EBITDA for Q4FY24 has risen by 20% to ₹73.1 crore from ₹60.9 crore in the corresponding period, with the margin at 39.7% as opposed to 42.6% in the previous fiscal year.
Anand Rathi Wealth Limited is among India’s leading non-bank wealth solutions firms, catering to high and ultra-high-net-worth individuals. It is an AMFI-registered mutual fund distributor and is one of the leading non-bank wealth solutions firms in India. The company offers a wide product portfolio of wealth solutions, financial product distribution, and technology solutions to its clients
Shares of Anand Rathi Wealth Limited have surged by 127% in the past six months and by an impressive 382% over the past 12 months.
Written by Omkar Chitnis
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