ARAnand Rathi Share And Stock Brokers544530Quarterly results

Board approves unaudited quarter and half-year results to Sep 30, 2026; review conclusion unmodified

Board met on Oct 13, 2026 (3:15 PM to 4:10 PM) and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.

By ScoutQuest · Tue 13 Oct 2026, 4:52 PM IST · 4 min read

PAT YoY Growth

+50.3%

Period

Quarter Ended Sep 30, 2026 (Unaudited)

What the board approved

The board of Anand Rathi Share and Stock Brokers Limited met on Tuesday, October 13, 2026, from 3:15 P.M. to 4:10 P.M. It approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. The results would also be published in newspapers.

Auditor's review conclusion

• R Kabra & Co. LLP, Chartered Accountants, carried out a limited review of both the standalone and the consolidated statements.
• Both reports carry an unmodified conclusion: nothing came to the auditor's attention that causes it to believe the statements are not prepared, in all material aspects, in accordance with the recognition and measurement principles of IND AS 34, or that they contain any material misstatement.
• A limited review gives moderate, not full, assurance and is not an audit.

Standalone numbers (unaudited, ₹ in Millions)

• Total income: 2,729.83 for the quarter and 5,191.15 for the half year ended September 30, 2026, against 2,283.82 and 4,299.52 in the same periods a year earlier.
• Total expenses: 2,164.69 for the quarter.
• Profit before exceptional item and tax: 565.14 for the quarter.
• Profit for the year: 423.00 for the quarter and 658.06 for the half year.
• Earnings per share: basic 6.71 for the quarter and 10.44 for the half year; diluted 6.58 and 10.24.

The exceptional item

• In the quarter ended June 30, 2026 the company recognised an exceptional expense of ₹ 209.96 million towards compensation for the replenishment/restoration of securities to two clients of its Depository Participant business who suffered losses due to fraudulent off-market transfers from their demat accounts.
• The amount includes the contingent liability disclosed in the quarter ended March 31, 2026 and the impact of the fraud identified in the quarter ended June 30, 2026.
• The company has reported the incident to the Depositories and the Stock Exchanges and lodged an FIR with the Economic Offences Wing (EOW). The matter is under investigation.
• The company believes there has been no systemic failure of internal controls, nor any non-compliance or negligence on its part in relation to the incident, and has recognised the outflow as a matter of prudence.
• The EOW has traced the money trail and attached certain assets and bank accounts of the beneficiaries of the fraudulent transactions. The company has shared insurance claims; recoveries will be accounted for as and when realisation becomes reasonably certain.

Balance sheet and cash (standalone, ₹ in Millions)

• Total assets: 44,797.02 as at September 30, 2026 against 71,021.14 as at March 31, 2026.
• Bank balances other than cash and cash equivalents: 22,268.10 against 34,656.28.
• Net cash used in operating activities for the half year: 18,168.34, against net cash generated of 2,200.92 in the half year ended September 30, 2025.
• Closing cash and cash equivalents: 697.97.

Ratios in the update (half year ended September 30, 2026)

• Debt-equity ratio: 1.01 (0.92 for the half year ended September 30, 2025; 0.61 for the year ended March 31, 2026).
• Debt service coverage ratio: 2.13; interest service coverage ratio: 2.43.
• Net worth: 13,882.01; profit after tax: 658.06; earnings per share (basic) 10.44.
• Current ratio: 1.48; total debts to total assets ratio: 0.31.
• Operating profit margin: 21.03%; net profit margin: 15.72%.

Rating action noted

• The company's short-term rating was upgraded to A1+ by CARE on April 08, 2026.
• It has also been assigned a short-term rating A1+ and a long-term rating A+ by ICRA Ratings on April 30, 2026.

Consolidated statement and subsidiary

• The consolidated statement includes Anand Rathi International (IFSC) Ventures Private Limited, a wholly owned subsidiary. Its interim results reflect total revenue of Rs. 4.75 million and Rs. 8.96 million, net total loss after tax of Rs. 3.63 million and Rs. 5.18 million, and total comprehensive loss of Rs. 2.72 million and Rs. 3.35 million for the quarter and half year ended September 30, 2026.

What a reader can take away

• This is a results announcement: the board approved the numbers, and the auditor's limited review found nothing to flag for either the standalone or the consolidated statement.
• The one unusual item in the numbers is the ₹ 209.96 million exceptional expense linked to the fraud at the depository-participant business, which is under investigation and for which insurance claims have been shared.
• The company operates in only one business segment, "Broking and related services".

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