Mumbai, 12th April 2023 - Anand Rathi Wealth Limited reported a consolidated net profit of ₹ 43 crores for Jan - Mar 2023 (Q4 FY 23), an increase of 23% compared to Jan - Mar 2022 (Q4 FY22) and total revenue of ₹ 147 crores representing an increase of 28%.
The Company reported a consolidated net profit of ₹ 169 crores for Apr – Mar 2023 ( FY 23), an increase of 33% compared to Apr – Mar 2022 ( FY 22) and total revenue during same period rose 31% to ₹ 558 crores.
Consolidated Financial Highlights – FY23 (April – March 2023)
|Particulars ( ₹ Crs.)||Q 4 FY 23||Q 4 FY 22||Y- o- Y||FY23||FY22||Y- o- Y|
|Total Revenue||146.8||114 . 6||+ 28 %||558.3||425 . 2||+ 31 %|
|Profit Before Tax||59.3||44 . 0||+ 35 %||227.9||167 . 4||+ 36 %|
|Profit After Tax||42.7||34 . 6||+ 23 %||168.6||126 . 8||+ 33 %|
|EPS (₹)||10.3||8 . 3||+ 23 %||40.5||30 . 5||+ 33 %|
|AUM||38 , 993||32 , 906||+ 18 %||38 , 993||32 , 906||+ 18 %|
- ROE – 40.36% for FY23
- The Board of Directors have declared Final Dividend of ₹ 7 per Equity Share of Face Value of ₹ 5 each of the Company ( 140% of Face Value). Total Dividend for FY23 stood at ₹ 12 per Equity Share ( Interim Dividend of ₹ 5 per Equity Share)
Important Highlights FY23 (Y-o-Y)
Private Wealth (PW) (Holding Company)
- Total Revenue increased by 31% to ₹ 538 Crores
- PAT grew by 34% to ₹ 168 Crores
- Net flows grew by 78% to ₹ 4 , 896 Crores
- AUM increased by 18% to ₹ 37, 942 Crores
- Share of Equity Mutual Funds in AUM increased to 47% ( PY 46%)
- Trail Revenue grew by 23%
- No of Active client families increased by 18% to 8 , 352
Digital Wealth (DW) (Subsidiary Company)
- AUM increased by 23% to ₹ 1 , 051 Crores ( PY ₹ 852 Crores)
- Number of clients grew by 9 % to 4 , 249 ( PY 3 , 907)
Omni Financial Advisors (“OFA”) (Subsidiary Company)
- One of the leading technology platform provider, sale to 5 , 677 MFDs as of 31st March 2023 ( PY 5 , 343)
- Assets under Administration ( AuA) of MFDs on this platform is ₹ 92, 174 Crores as on 31st March 2023 ( PY ₹ 79, 846 Crores)
Commenting on the Results, Mr. Rakesh Rawal, Chief Executive Officer said:
“Amidst geopolitical tension, higher inflation, and the higher interest rate environment, the Indian economy remained resilient during the year. With inflation expected to moderate and the investment cycle reviving, the economy is likely to do well in the current year.
In FY23 our revenue grew by 31% to ₹ 558 crores, and PAT grew by 33% to ₹ 169 crores. Our holistic approach has also aided us in achieving strong AUM growth of 18% Yo Y at ₹ 38, 993 crores.
During the last year, we have added 1 , 270 client families, a new record at ARWL. This clearly demonstrates the trust and confidence our clients have in our services. Our total client families as on 31st March 2023 stood at 8 , 352. On the Relationship Manager ( RM) side, we have added 22 RMs on a net basis.
In the last one year, post listing, the company has outperformed i ts own expectations and we anticipate our long-term commitment to offer the most efficient wealth solutions to our clientele will enable us to achieve 20-25% growth in the years ahead.”
Commenting on the same, Mr. Feroze Azeez, Deputy Chief Executive Officer said:
“Over the years, we have believed in providing uncomplicated, holistic and standardized solutions to our clients that have helped us consistently deliver robust performance at Anand Rathi Wealth.
Despite the challenging environment, we have delivered strong performance across verticals. Our net flows for FY23 stood at ₹ 4 , 896 crores, growth of 78% and the net flows in Q4 FY23 stood at ₹ 1 , 180 crores, growth of 40%. This speaks of value which we add for our clients. This growth also reflects the effectiveness of developing uncomplicated wealth solutions for our client families as well as the competence of our team.
Given the favourable macro economic situation and the increase in incomes and savings, we believe there is significant untapped market for the wealth management sector."
About Anand Rathi Wealth Limited
Anand Rathi Wealth Limited is amongst India’ s leading non-bank wealth solutions firms, catering to high and ultra-high net worth individuals. The Company has evolved into providing well defined uncomplicated wealth solution to our clients. Our performance during last few years has helped our clients achieve their wealth objectives. In addition to Private Wealth Vertical ( PW), Company has two new age technology led business verticals i.e., Digital Wealth ( DW) and Omni Financial Advisors ( OFA). DW business is a fin- tech extension of the Company’ s proposition for the mass affluent segment with wealth solution delivered through a combination of human interface empowered with technology. OFA business is a strategic extension for capturing wealth management landscape to service retail clients through mutual fund distributors by using a technology platform.
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