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Anand Rathi Wealth Limited (ANANDRATHI) Fair Value & Analysis

Financial Services · IN · Market cap ₹322B

AR Anand Rathi Wealth Limited ANANDRATHI · NSE
Price₹2,199
Fair Value₹309.77
Upside-85.9%
Quality70/100
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Mixed Growth
Highly profitable · 31.6% net margin
Low debt · generates free cash flow
0.34% dividend yield
Mixed vs. peers (7/14)
Wide moat 87/100
Evidence: High Range ₹232.33 – ₹1,047 Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated today

Fair value updated Aug 13, 2026, revised from ₹83.29 to ₹309.77 (+271.9%) since Aug 7, 2026. Share price +5.7% over the past month.

A solid business, but screening 86% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹1,047). The favourable scenario is already priced in.
  • The model range is unusually wide (₹232.33 to ₹1,047). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

₹998,042 ₹131.51 Fair Value ₹309.77 Dec 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

56‑month range ₹131.51 – ₹998,042 · fair‑value band ₹232.33 – ₹1,047 · the ₹2,199 price screens above the ₹309.77 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Anand Rathi Wealth Limited (ANANDRATHI) currently trades at ₹2,199, while our model-based Fair Value estimate is ₹309.77, implying the stock looks roughly 85.9% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Anand Rathi Wealth Limited generated revenue of ₹12.5B at a net margin of 31.6%. Revenue grew 47.6% year over year. It earns a return on equity of 46.7%. The balance sheet holds a net cash position of ₹1.6B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹232.33 (bear case) to ₹1,047 (bull case); at ₹2,199, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Financial Services peers we cover trades at -33% fair-value upside, at -86%, ANANDRATHI screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹40.28 to ₹1,130). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹313.80 ₹639.15 ₹1,186 80
Residual Income ₹207.37 ₹313.07 ₹4,536 76
Rev-Margin DCF ₹200.98 ₹328.77 ₹597.84 74
All 13 models by family
DCF Models
Owner Earnings ₹431.06 ₹991.59 ₹2,221 31
5Y P/E Exit ₹276.46 ₹589.06 ₹1,013 38
10Y P/E Exit ₹297.84 ₹631.83 ₹1,176 35
Earnings-Based
Graham-Dodd ₹162.03 ₹1,130 ₹1,586 54
Lynch FV ₹583.80 ₹833.99 ₹1,084 50
Dividend Discount
Gordon GGM ₹62.52 ₹136.50 ₹229.67 70
DDM Multi-Stage ₹62.52 ₹111.82 ₹142.25 61
Multiples
P/E Multiple ₹232.33 ₹309.77 ₹387.21 63
P/B Multiple ₹63.12 ₹84.16 ₹105.20 55
Asset-Based
NCAV (Graham) ₹30.06 ₹40.28 ₹60.11 50
Growth DCF
Growth DCF ₹313.80 ₹639.15 ₹1,186 80
Rev-Margin DCF ₹200.98 ₹328.77 ₹597.84 74
Economic Profit
Residual Income ₹207.37 ₹313.07 ₹4,536 76

Widest divergence: Earnings-Based (₹833.99) versus Asset-Based (₹40.28). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹12.5B
Revenue growth (YoY) +47.6%
Net margin 31.6%
Return on equity 46.7%
Free cash flow ₹3.0B FY2026
P/E ratio 93.2
More key figures
Operating margin 40.3%
EPS (TTM) ₹23.58
Dividend yield 0.3%
EPS growth (YoY) +38.4%
Net cash ₹1.6B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 67

Profitability 94
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 89
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 36
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Anand Rathi Wealth Limited engages in the distribution and sale of financial products in India. The company offers wealth solutions.

Full company description

Anand Rathi Wealth Limited engages in the distribution and sale of financial products in India. The company offers wealth solutions. It also operates Omni Financial Advisor, a technology platform for mutual fund distributors and independent financial advisors, which include client reporting, business dashboard, client engagement, online mutual fund transactions, and goal planning products. In addition, the company is involved in business brokerage activities. It serves high net-worth individuals and ultra-high net-worth individuals. The company was formerly known as Anand Rathi Wealth Services Limited and changed its name to Anand Rathi Wealth Limited in January 2021. Anand Rathi Wealth Limited was founded in 1994 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Anand Rathi Wealth Limited reported revenue of ₹12.5B in FY2026 versus ₹4.2B in FY2022, a compound +31.6%/yr. Reported net income was ₹4.0B in FY2026, compounding +32.9%/yr from FY2022.

Growth Quality 92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹12.5B
Latest YoY
+27.8%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+36.4%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+81.2%
Revenue +31.6%/yr
FY22 ₹4.2B
FY23 ₹5.5B
FY24 ₹7.5B
FY25 ₹9.8B
FY26 ₹12.5B
Net income +32.9%/yr
FY22 ₹1.3B
FY23 ₹1.7B
FY24 ₹2.2B
FY25 ₹3.0B
FY26 ₹4.0B

ANANDRATHI screens 86% overvalued. Compare with BlackRock, Inc →

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Cite: Fair Value Calculator (2026). "Anand Rathi Wealth Limited Fair Value". https://www.fairvalue-calculator.com/stock/ANANDRATHI

Peer Group

Asset Management · 690 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 70 · Top 25%
Fair Value upside −86% · Bottom 25%
Return on equity (TTM) 47% · Top 25%
Return on assets 30% · Top 25%
Net margin (TTM) 32% · Above median
Operating margin (TTM) 40% · Below median
Revenue growth 48% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 93.2× · Pricier than 75% of peers
P/B 32.24× · Pricier than 75% of peers
P/S (TTM) 25.68× · Pricier than 75% of peers
P/FCF 1.1× · Cheaper than 75% of peers
EV/EBITDA 56.6× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 36
FUTURE 100 · sector 14
PAST 100 · sector 24
HEALTH 99 · sector 95
DIVIDEND 7 · sector 68

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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BlackRock, Inc BLK $1,161 $465.75 -60%
Blackstone Inc BX $146.41 $52.88 -64%
Investor AB INVEB kr 417.90 kr 835.80 +100%
Brookfield Corporation BN C$62.41 C$7.74 -88%
AB Industrivärden INDUA kr 544.00 kr 375.93 -31%
ICICIAMC ICICIAMC ₹3,077 ₹1,132 -63%
Jio Financial Services Limited JIOFIN ₹256.05 ₹171.84 -33%
Hedef Holding HEDEF 267.25 TRY 321.44 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹11,579 ₹11,257 -3%
HDFC Asset Management Company HDFCAMC ₹2,490 ₹866.78 -65%

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Frequently asked questions

Is Anand Rathi Wealth Limited (ANANDRATHI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹309.77 versus a price of ₹2,199, about −86% (overvalued).
What is the fair value of ANANDRATHI?
Our model-based fair value for Anand Rathi Wealth Limited is ₹309.77 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹2,199.
What is the quality score of ANANDRATHI?
Anand Rathi Wealth Limited has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Anand Rathi Wealth Limited (ANANDRATHI)?
Anand Rathi Wealth Limited reported trailing-twelve-month revenue of about ₹12.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ANANDRATHI?
The net profit margin of Anand Rathi Wealth Limited is about 31.6%, meaning it keeps roughly 31.6% of revenue as net income. Based on the latest reported figures.
Does Anand Rathi Wealth Limited pay a dividend?
Anand Rathi Wealth Limited currently shows a dividend yield of about 0.34% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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