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Anand Rathi Wealth Limited (ANANDRATHI) Fair Value & Analysis

Financial Services · IN · Market cap ₹364B (≈ $3.9B) · ISIN INE463V01026

What is Anand Rathi Wealth Limited really worth?

AR Anand Rathi Wealth Limited ANANDRATHI · BSE
Price₹2,215
Fair Value₹309.97
Upside−86.0%
Quality69/100

A solid business, but trading 614% above our fair value of ₹309.97.

As of Aug 19, 2026, the fair value of Anand Rathi Wealth Limited is ₹309.97 per share against a price of ₹2,215, so the fair value sits 86% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Healthy Growth (revenue 5y +34.1 %/yr)
Highly profitable · 33.2% net margin
Low debt · generates free cash flow
Wide moat 92/100

Risks

!Evidence only low, so the estimate is less certain
!The models disagree: range ₹232.48 to ₹1,020
Evidence: Low Range ₹232.48 – ₹1,020

Fair value as of: Aug 19, 2026

From 11 valuation models · updated 18 days ago

Share price +8.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹1,020). The favourable scenario is already priced in.
  • The model range is unusually wide (₹232.48 to ₹1,020). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹2,215 ₹131.55 Fair Value ₹309.97 Dec 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

57‑month range ₹131.55 – ₹2,215 · fair‑value band ₹232.48 – ₹1,020 · the ₹2,215 price screens above the ₹309.97 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Anand Rathi Wealth Limited (ANANDRATHI) currently trades at ₹2,215, while our model-based Fair Value estimate is ₹309.97, implying the stock looks roughly 614.3% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Financial Services sector. Bull case: the Earnings-Based group reads highest at a median of ₹681.94 per share, and 0 of the 11 models we run sit above the ₹2,215 price. Bear case: the Asset-Based group reads lowest at ₹40.28, and 11 of the 11 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Anand Rathi Wealth Limited generated revenue of ₹14.0B at a net margin of 33.2%. Revenue grew 52.1% year over year. It earns a return on equity of 46.7%. Net debt stands at ₹146M. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹232.48 (bear case) to ₹1,020 (bull case); at ₹2,215, 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. The share trades about 1% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −86%, ANANDRATHI screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹12.04 per share, which is 3.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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 ₹1,131). 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 best evidence ₹285.01 ₹538.60 ₹1,073 74
Owner Earnings ₹431.33 ₹992.20 ₹2,222 70
Rev-Margin DCF ₹175.53 ₹301.11 ₹547.10 70
All 11 models by family
DCF Models
Owner Earnings ₹431.33 ₹992.20 ₹2,222 70
5Y P/E Exit ₹268.59 ₹578.44 ₹999.92 68
10Y P/E Exit ₹283.52 ₹610.74 ₹1,147 60
Earnings-Based
Graham-Dodd ₹162.14 ₹1,131 ₹1,587 63
Lynch FV ₹477.36 ₹681.94 ₹886.53 61
Multiples
P/E Multiple ₹232.48 ₹309.97 ₹387.47 63
P/B Multiple ₹63.12 ₹84.16 ₹105.20 55
Asset-Based
NCAV (Graham) ₹30.06 ₹40.28 ₹60.11 54
Growth DCF
Growth DCF best evidence ₹285.01 ₹538.60 ₹1,073 74
Rev-Margin DCF ₹175.53 ₹301.11 ₹547.10 70
Economic Profit
Residual Income ₹197.92 ₹293.85 ₹3,840 64

Widest divergence: Earnings-Based (₹681.94) versus Asset-Based (₹40.28). Highest evidence: Growth DCF (74).

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Key figures & financial health

P/E ratio 80.2
P/S ratio 27.6 P/E × margin
EPS (TTM) ₹27.63 price ÷ EPS = P/E 80.2
Net margin 34.5% FY2026
Return on equity 46.7% TTM
Return on assets (EBIT) 34.9% avg 5y
More key figures
Profitability
Operating margin 48.5% TTM
Growth
Revenue (TTM) ₹14.0B TTM
Revenue growth (YoY) +52.1% 3y avg +27.9%
EPS growth (YoY) +71.0%
Balance sheet & cash flow
Free cash flow ₹2.7B FY2026
Net debt ₹146M FY2020 · ≈ 0.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 69 · Market factors (momentum, volatility) 93

Profitability 91
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 89
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 40
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Anand Rathi Wealth Limited provides financial and insurance services in India. The company distributes equity and debt mutual funds, non-principal protected structured products, and other financial products.

Full company description

Anand Rathi Wealth Limited provides financial and insurance services in India. The company distributes equity and debt mutual funds, non-principal protected structured products, and other financial products. It also operates a technology platform for financial advisors, which include client reporting, business dashboard, client engagement, online mutual fund transactions, and goal planning products. 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 incorporated in 1995 and is based 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 ₹11.5B in FY2026 versus ₹4.2B in FY2022, a compound +28.8%/yr. Reported net income was ₹4.0B in FY2026, compounding +32.9%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹11.5B
Latest YoY
+22.3%
Avg. revenue 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.
+27.9%
Avg. revenue 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.
+34.1%
Avg. revenue growth/yr (6Y) 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.
+23.0%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+26.5% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+26.5%
Dividend yield0.0%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20.0% (2021) → 38.9% (2026) · rising
Worst earnings drop34% (2024) · in INR
Revenue +28.8%/yr
FY22 ₹4.2B
FY23 ₹5.5B
FY24 ₹7.2B
FY25 ₹9.4B
FY26 ₹11.5B
Net income +32.9%/yr
FY22 ₹1.3B
FY23 ₹1.7B
FY24 ₹2.2B
FY25 ₹3.0B
FY26 ₹4.0B

ANANDRATHI screens 614% overvalued. Compare with Blackstone Inc →

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

Peer Group

Asset Management · 695 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 69 · Top 25%
Fair Value upside −86% · Bottom 25%
Return on equity (TTM) 47% · Top 25%
Return on assets 30% · Top 25%
Net margin (TTM) 33% · Above median
Operating margin (TTM) 49% · Above median
Revenue growth 52% · 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) 80.2× · Pricier than 75% of peers
P/B 36.51× · Pricier than 75% of peers
P/S (TTM) 26.01× · Pricier than 75% of peers
P/FCF 1.4× · Cheaper than 75% of peers
EV/EBITDA 56.1× · Pricier than 75% of peers

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 408.05 kr 827.56 +103%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is Anand Rathi Wealth Limited (ANANDRATHI) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹309.97 versus a price of ₹2,215, about −86% upside (overvalued).
What is the fair value of ANANDRATHI?
Our model-based fair value for Anand Rathi Wealth Limited is ₹309.97 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹2,215.
What is the quality score of ANANDRATHI?
Anand Rathi Wealth Limited has a Quality Score of 69/100. 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 price target for Anand Rathi Wealth Limited (ANANDRATHI)?
Our model-based price target is the fair value of ₹309.97 (as of Aug 19, 2026) from 11 valuation models. Cautious scenario ₹232.48, optimistic scenario ₹1,020. It is a calculation from audited fundamentals, not an analyst target.
What is the Anand Rathi Wealth Limited stock forecast for 2026?
Our models put fair value at ₹309.97, about −86% upside versus a price of ₹2,215 (overvalued). Cautious scenario ₹232.48, optimistic scenario ₹1,020. The calculation is refreshed regularly with new filings.
What is the revenue of Anand Rathi Wealth Limited (ANANDRATHI)?
Anand Rathi Wealth Limited reported trailing-twelve-month revenue of about ₹14.0B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of ANANDRATHI?
The net profit margin of Anand Rathi Wealth Limited is about 33.2%, meaning it keeps roughly 33.2% of revenue as net income. Based on the latest reported figures.
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