ARSSBLFinancial Services

Anand Rathi Share and Stock Brokers Limited

Stockbroking & Allied · ISIN INE549H01021 · BSE 544530 · NSE EQ · FV ₹5
Last price
₹501
+0.72%today
What this company does

Anand Rathi Share and Stock Brokers Limited operates in Stockbroking & Allied, part of the Financial Services sector. It booked ₹246 cr of revenue in its latest quarter (Q1 FY27) and kept 9.5% of sales as profit. It is the 8th largest of 9 Stockbroking & Allied companies we track, by market value.

The Company is primarily engaged in the prepared on historical cost basis, except the following: business of securities, currency and commodity broking, providing margin trading facility, depository services i) Certain financial assets and liabilities are and distribution of financial products to its clients.
The Company is primarily engaged in the business of Stock Broking which the management and CODM recognise as the sole business segment.
In the report:
51out of 100
Equitytale Health Score
Mixed

Healthier than 51% of companies in Financial Services, on the 4 of 6 measures we could read for it. Each measure is ranked against the 26–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
46

At close. Not part of the score.

Profitability & returns40

How much profit it earns on the money it employs

Cash quality94

Whether reported profit actually arrives as cash

Valuation24

What today's price implies, against our models or its peers

Governance & risk83

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: balance sheet, growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 22% vs last year
Promoters hold 70%
Turns profit into real cash
Watch-outs
! 6.2% of promoter stake pledged
! Low 6.9% return on equity

What if I invest in ARSSBL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹501 +0.72%
latest close · 2026-09-17
52-wk low ₹47142 sessions so far52-wk high ₹546
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio33.7High
LowAverageHigh
P/B ratio2.34Moderate
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity6.9%Weak
WeakFairStrong ▸15%
Return on capital19.2%Strong
WeakFairStrong
Net margin9.5%Decent
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.62Moderate
LowModerateHigh ▸1
Current ratio1.25Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹3,155 cr
Book value
₹214
EPS
₹3.71
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
1.3%
Earnings yield
2.96%
P/S
3.20
Sales / share
₹156.2
Tax rate
25.6%
Face value
₹5
Shares
6.3 cr
Working capital
₹1,411 cr
Current assets
₹7,022 cr
Current liabilities
₹5,611 cr
Delivery %
55.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹120₹120, midpoint ₹120

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹246 cr
Other Income₹44.9 L
Total Income₹247 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹78 cr
Finance Costs₹40 cr
Depreciation & Amortisation₹5 cr
Other Expenses₹71 cr
Total Expenses₹194 cr
Exceptional Items₹-21 cr
Profit before Tax₹31 cr
Tax Expense₹8 cr
Net Profit₹23 cr
Net margin on total income9.5%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹78 cr34.6%
Finance costs₹40 cr17.7%
Depreciation & amortisation₹5 cr2.4%
Other expenses₹71 cr31.4%
Tax expense₹8 cr3.6%
Profit for the period₹23 cr10.4%
Total income ₹247 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue248 cr256 cr246 cr
Total income249 cr256 cr247 cr
Expenses199 cr202 cr194 cr
Profit before tax50 cr54 cr31 cr
Tax13 cr12 cr8 cr
Net profit (owners' share)37 cr42 cr23 cr
Net margin (owners' share, on revenue)14.9%16.3%9.5%
EPS (₹)7.547.753.71
YoY (latest quarter): total income +22.3% · net profit +2.4%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹7,099 cr
Shareholder equity
₹1,348 cr
parent shareholders
Total debt
₹831 cr
Cash
₹79 cr
Cash flow · H1 FY26
Operating
₹200 cr
Investing
₹-1,122 cr
Financing
₹963 cr
Peer comparison
Stockbroking & Allied · by market value
CompanyPriceMarket capP/E
Billionbrains Garage Ventures Limited₹187₹1.17 L cr39.4
Motilal Oswal Financial Services Limited₹989₹59,534 cr11.7
360 ONE WAM LIMITED₹1,061₹43,163 cr32.6
Nuvama Wealth Management Limited₹1,687₹30,803 cr25.1
Angel One Limited₹295₹26,949 cr29.0
IIFL Capital Services Limited₹337₹10,562 cr14.2
Share India Securities Limited₹218₹4,780 cr9.6
Anand Rathi Share and Stock Brokers Limitedthis company₹501₹3,155 cr33.7
Monarch Networth Capital Limited₹368₹2,917 cr16.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.00%
trailing 12 months
Dividend / share (TTM)
₹5
Last dividend
₹5
ex 23 Jun 2026
ActionDetailEx-date
Dividend₹5 / share23 Jun 2026
Who owns it · 2026-06-30
6.2% pledged
Promoter
69.6%
FII / Foreign
0.1%
DII / Domestic
4.1%
Retail / others
26.2%
Promoter stake down 0.3% over the last 5 quarters.
Smart-money activity
Insider trades
BoughtKrishnav Pradeep Gupta · Immediate relative1,000 · ₹5.9 L18 Dec 25
BoughtKrishnav Pradeep Gupta · Immediate relative1,500 · ₹8.8 L18 Dec 25
Bulk / block deals
short · NSE16525 Aug 26
BoughtMICROCURVES TRADING PRIVATE LIMITED · NSE4.40 L @ ₹683.0216 Jan 26
SoldMICROCURVES TRADING PRIVATE LIMITED · NSE4.40 L @ ₹683.1716 Jan 26
Stake changes
BoughtAsha Biyani · promoter→ 0.03% · 20,00016 Jun 26
Promoter pledges
PledgedSuresh Rathi Securities Private Ltd3.00 L · 3.81% held3 Jun 26
ReleasedSuresh Rathi Securities Private Limited24.00 L · 3.83% held8 May 26
PledgedSuresh Rathi Securities Private Limited24.00 L · 0.00% held30 Mar 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 4 Sep 2026
See the official result
1
1 - To approve material modification(s) to material related party transaction(s) which were approved earlier and proposed to be entered into by the Company with Anand Rathi Financial Services Limited (“ARFSL” / “Holding Company”) for the Financial Year 2026-27.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
41.37 L votes for, 134 against · 0% of mutual funds and other big investors said no
2
2 - To approve material modification(s) to material related party transaction(s) which were approved earlier and proposed to be entered into by the Company with Anand Rathi Global Finance Limited (“ARGFL” / “Group Company”) for the Financial Year 2026-27.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
41.37 L votes for, 133 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 90 named members
owning 69.6% between them · as of 2026-06-30
Anand Rathi Financial Services Limited69.57%
Asha Kailash Biyani0.03%
Krishnav Pradeep Gupta0.01%
AAP Investments Limitedno shares
Aishwariya Capital Services Private Limitedno shares
Aishwariya Guptano shares
Amit Capital & Securities Private Limitedno shares
Amit Rathino shares
Business done with them
FY2026 · 21 of the group
The company paid ₹444 cr to companies in the promoter group last year — about 47.6% of its ₹932 cr revenue and received ₹76 cr back from them.
ANAND RATHI GLOBAL FINANCE LIMITED
Bought property or assets from them · As per related party text block
₹126 cr
company paid
ANAND RATHI WEALTH LIMITED
Bought property or assets from them · As per related party text block
₹100 cr
company paid
ANAND RATHI GLOBAL FINANCE LIMITED
Paid them for services · As per related party text block
₹87 cr
company paid
ANAND RATHI FINANCIAL SERVICES LIMITED
Other payments to them · As per related party text block
also owns 69.57% of the company
₹74 cr
company paid
ANAND RATHI ADVISORS LIMITED
Other income from them · As per related party text block
₹38 cr
company received
ANAND RATHI WEALTH LIMITED
Paid them for services · As per related party text block
₹38 cr
company paid
ANAND RATHI IT PRIVATE LIMITED
Other income from them · As per related party text block
₹21 cr
company received
Mr. Pradeep Kumar Gupta
Other income from them · As per related party text block
₹13 cr
company received
VAHIN ADVISORS AND TRADERS PRIVATE LIMITED
Other payments to them · As per related party text block
₹4 cr
company paid
ANAND RATHI GLOBAL FINANCE LIMITED
Contribution made to them · As per related party text block
₹3 cr
company paid
ANAND RATHI FINANCIAL SERVICES LIMITED
Bought property or assets from them · As per related party text block
also owns 69.57% of the company
₹3 cr
company paid
ANAND RATHI GLOBAL FINANCE LIMITED
Sold goods to them · As per related party text block
₹2 cr
company received
AR DIGITAL WEALTH PRIVATE LIMITED
Contribution made to them · As per related party text block
₹2 cr
company paid
ANAND RATHI IT PRIVATE LIMITED
Other payments to them · As per related party text block
₹1 cr
company paid
PKG FINSTOCK PRIVATE LIMITED
Other payments to them · As per related party text block
₹95.9 L
company paid
AQUA PROOF WALL PLAST PRIVATE LIMITED
Contribution made to them · As per related party text block
₹76 L
company paid
ARG COMMERCE PRIVATE LIMITED
Other income from them · As per related party text block
₹75.5 L
company received
ANAND RATHI GLOBAL FINANCE LIMITED
Other payments to them · As per related party text block
₹55.7 L
company paid
ANAND RATHI CAPITAL ADVISORS PRIVATE LIMITED
Contribution made to them · As per related party text block
₹55.6 L
company paid
ANAND RATHI FINANCIAL SERVICES LIMITED
Sold goods to them · As per related party text block
also owns 69.57% of the company
₹53.6 L
company received
FREEDOM WEALTH SOLUTIONS PRIVATE LIMITED
Contribution made to them · As per related party text block
₹46.5 L
company paid
AMIT CAPITAL AND SECURITIES PVT LTD
Contribution made to them · As per related party text block
₹45.6 L
company paid
SEPTA HEALTH SOLUTIONS PRIVATE LIMITED
Other payments to them · As per related party text block
₹38.7 L
company paid
LXME MONEY PRIVATE LIMITED
Other payments to them · As per related party text block
₹31.1 L
company paid
FFREEDOM INTERMEDIARY INFRASTRUCTURE PRIVATE LIMITED
Contribution made to them · As per related party text block
₹28.1 L
company paid
ANAND RATHI INSURANCE BROKERS LIMITED
Other income from them · As per related party text block
₹17.2 L
company received
ANAND RATHI ADVISORS LIMITED
Sold goods to them · As per related party text block
₹14.7 L
company received
ANAND RATHI INSURANCE BROKERS LIMITED
Provided services to them · As per related party text block
₹12.3 L
company received
ANAND RATHI FINANCIAL SERVICES LIMITED
Contribution made to them · As per related party text block
also owns 69.57% of the company
₹9.6 L
company paid
ANAND RATHI FINANCIAL SERVICES LIMITED
Other income from them · As per related party text block
also owns 69.57% of the company
₹7.2 L
company received
ANAND RATHI GLOBAL INTERMEDIARIES LIMITED
Other income from them · As per related party text block
₹6.8 L
company received
Mr. Amit Rathi
Other income from them · As per related party text block
₹5.6 L
company received
ANAND RATHI GLOBAL INTERMEDIARIES LIMITED
Other payments to them · As per related party text block
₹2.7 L
company paid
AMIT CAPITAL AND SECURITIES PVT LTD
Sold goods to them · As per related party text block
₹1.5 L
company received
AQUA PROOF WALL PLAST PRIVATE LIMITED
Sold goods to them · As per related party text block
₹0.7 L
company received
ANAND RATHI WEALTH LIMITED
Other payments to them · As per related party text block
₹0.6 L
company paid
ANAND RATHI CAPITAL ADVISORS PRIVATE LIMITED
Sold goods to them · As per related party text block
₹0.4 L
company received
ANAND RATHI IT PRIVATE LIMITED
Sold goods to them · As per related party text block
₹0.4 L
company received
JAIPUR SECURITIES PRIVATE LIMITED
Sold goods to them · As per related party text block
₹0.2 L
company received
ARG COMMERCE PRIVATE LIMITED
Sold goods to them · As per related party text block
₹0.1 L
company received

The company also transacted with 6 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹745 cr raised in Sep 2025 by selling shares to the public

As of Mar 2026, the company says it has spent 100% of what it set aside. Crisil Ratings Limited watches the spending on the exchange’s behalf.

Funding long-term working capital requirements of our Company
100%
₹550 cr of ₹550 cr
General corporate purposes
spent more than set aside
100%
₹154 cr of ₹154 cr
Spent by quarter: 94%100%100% (to Mar 2026)
₹50 cr raised in Nov 2025 by commercial paper (short-term borrowing)

As of Dec 2025, the company says it has spent 100% of what it set aside.

For Working Capital Purpose
100%
₹50 cr of ₹50 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.