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ANAND RATHI SH N STK BR L (ARSSBL) Fair Value & Analysis

Financial Services · IN · Market cap ₹35.8B

AR ANAND RATHI SH N STK BR L ARSSBL · NSE
Price₹508.20
Fair Value₹266.64
Upside-47.5%
Quality52/100
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Healthy Growth
Solidly profitable · 17.1% net margin
Low debt · generates free cash flow
0.89% dividend yield
Mixed vs. peers (7/13)
Moderate moat 62/100
Evidence: High Range ₹199.98 – ₹333.30 Share as image

Fair value as of: Aug 13, 2026

From 10 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from ₹348.68 to ₹266.64 (−23.5%) since Aug 6, 2026. Share price −8.6% over the past month.

A solid business, but screening 48% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹333.30). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • 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 (10 months)

₹767.12 ₹414.41 Fair Value ₹266.64 Sep 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

10‑month range ₹414.41 – ₹767.12 · fair‑value band ₹199.98 – ₹333.30 · the ₹508.20 price screens above the ₹266.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 13, 2026.

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Analysis

ANAND RATHI SH N STK BR L (ARSSBL) currently trades at ₹508.20, while our model-based Fair Value estimate is ₹266.64, implying the stock looks roughly 47.5% overvalued today. The Quality Score stands at 52/100 (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 SH N STK BR L generated revenue of ₹7.6B at a net margin of 17.1%. Revenue grew 28.2% year over year. It earns a return on equity of 14.0%. Net debt stands at ₹7.5B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹199.98 (bear case) to ₹333.30 (bull case); at ₹508.20, 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 35% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -27% fair-value upside, at -48%, ARSSBL 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.

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 ₹1,519 ₹2,818 ₹5,130 80
P/E Multiple ₹199.98 ₹266.64 ₹333.30 63
Residual Income ₹185.97 ₹205.38 ₹308.67 61
All 10 models by family
DCF Models
Owner Earnings ₹303.34 ₹587.59 ₹1,116 31
5Y P/E Exit ₹610.83 ₹868.81 ₹1,147 38
10Y P/E Exit ₹903.91 ₹1,264 ₹1,744 35
Earnings-Based
Graham-Dodd ₹139.47 ₹758.88 ₹1,052 54
Lynch FV ₹210.63 ₹300.89 ₹391.16 50
Multiples
P/E Multiple ₹199.98 ₹266.64 ₹333.30 63
P/B Multiple ₹224.59 ₹299.46 ₹374.32 55
Asset-Based
NCAV (Graham) ₹106.95 ₹143.31 ₹213.90 50
Growth DCF
Growth DCF ₹1,519 ₹2,818 ₹5,130 80
Economic Profit
Residual Income ₹185.97 ₹205.38 ₹308.67 61

Widest divergence: Growth DCF (₹2,818) versus Asset-Based (₹143.31). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹7.6B
Revenue growth (YoY) +28.2%
Net margin 17.1%
Return on equity 14.0%
Free cash flow ₹7.1B FY2026
P/E ratio 21.7
More key figures
Operating margin 25.2%
EPS (TTM) ₹23.42
Dividend yield 0.9%
EPS growth (YoY) +88.2%
Net debt ₹7.5B FY2026

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 47 · Market factors (momentum, volatility) 36

Profitability 31
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 35
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 82
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 Share and Stock Brokers Limited provides stock brokerage services in India and internationally. The company offers equities, derivatives, alternative investment funds, IPOs, mutual funds, portfolio management services, investment basket, margin trading facility, NRI investing, commodities, currencies, fixed income, and insurance products.

Full company description

Anand Rathi Share and Stock Brokers Limited provides stock brokerage services in India and internationally. The company offers equities, derivatives, alternative investment funds, IPOs, mutual funds, portfolio management services, investment basket, margin trading facility, NRI investing, commodities, currencies, fixed income, and insurance products. It also provides TradeMobi, an online app for trading and account related services; TradeXpress, a web-based platform to execute trades and access real-time market data; AR Invest; and Algozy for algorithmic trading strategies. The company was formerly known as Navratan Capital and Securities Limited and changed its name to Anand Rathi Share and Stock Brokers Limited in January 2008. Anand Rathi Share and Stock Brokers Limited was incorporated in 1991 and is based in Mumbai, India. Anand Rathi Share and Stock Brokers Limited operates as a subsidiary of Anand Rathi Financial Services Limited.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

ANAND RATHI SH N STK BR L reported revenue of ₹7.4B in FY2026 versus ₹3.8B in FY2022, a compound +18.0%/yr. Reported net income was ₹1.3B in FY2026, compounding +26.3%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹7.4B
Latest YoY
+5.3%
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.
+20.4%
Revenue +18.0%/yr
FY22 ₹3.8B
FY23 ₹4.2B
FY24 ₹5.9B
FY25 ₹7.0B
FY26 ₹7.4B
Net income +26.3%/yr
FY22 ₹508M
FY23 ₹377M
FY24 ₹773M
FY25 ₹1.0B
FY26 ₹1.3B

ARSSBL screens 48% overvalued. Compare with ORIX Corporation →

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Cite: Fair Value Calculator (2026). "ANAND RATHI SH N STK BR L Fair Value". https://www.fairvalue-calculator.com/stock/ARSSBL

Peer Group

Financial Conglomerates · 55 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 49 · Below median
Fair Value upside −48% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 2% · Above median
Net margin (TTM) 17% · Above median
Operating margin (TTM) 25% · Above median
Revenue growth 28% · Top 25%
Dividend yield (TTM) 0.9% · Bottom 25%
Debt / equity 0.03× · Lower than 75% of peers

Valuation Multiples vs Financial Conglomerates median · lower = cheaper

P/E (TTM) 21.7× · Pricier than median
P/B 2.66× · Pricier than 75% of peers
P/S (TTM) 4.73× · Pricier than median
P/FCF 0.1× · Cheaper 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 9
FUTURE 100 · sector 38
PAST 56 · sector 30
HEALTH 99 · sector 84
DIVIDEND 18 · sector 53

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 Financial Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
ORIX Corporation IX $40.58 $35.47 -13%
Bajaj Finserv Ltd BAJAJFINSV ₹2,009 ₹796.96 -60%
China Galaxy Securities Co 601881 ¥12.36 ¥11.34 -8%
Guosen Securities Co 002736 ¥10.12 ¥10.84 +7%
CNPC Capital Company 000617 ¥6.96 ¥6.99 +0%
Aditya Birla Capital Limited ABCAPITAL ₹410.95 ₹119.98 -71%
Freedom Holding FRHC $151.33 $31.31 -79%
Voya Financial, Inc VOYA $99.49 $62.37 -37%
Guangzhou Yuexiu Capital Holdings 000987 ¥7.72 ¥5.63 -27%
Bicecorp S.A BICE 402.36 CLP 261.70 CLP -35%

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Frequently asked questions

Is ANAND RATHI SH N STK BR L (ARSSBL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹266.64 versus a price of ₹508.20, about −48% (overvalued).
What is the fair value of ARSSBL?
Our model-based fair value for ANAND RATHI SH N STK BR L is ₹266.64 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹508.20.
What is the quality score of ARSSBL?
ANAND RATHI SH N STK BR L has a Quality Score of 52/100. 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 SH N STK BR L (ARSSBL)?
ANAND RATHI SH N STK BR L reported trailing-twelve-month revenue of about ₹7.6B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ARSSBL?
The net profit margin of ANAND RATHI SH N STK BR L is about 17.1%, meaning it keeps roughly 17.1% of revenue as net income. Based on the latest reported figures.
Does ANAND RATHI SH N STK BR L pay a dividend?
ANAND RATHI SH N STK BR L currently shows a dividend yield of about 0.89% 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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