Conference Call with Anand Rathi Wealth Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Financial Services company Anand Rathi Wealth announced Q4FY23 results: Q4FY23: Consolidated net profit of Rs 43 crore in Q4FY23, an increase of 23% compared to Q4FY22 Total revenue of Rs 147 crore representing an increase of 28%. Consolidated net profit of Rs 169 crore for FY23, an increase of 33% compared to FY22 Total revenue during same period rose 31% to Rs 558 crore ROE – 40.36% for FY23 The Board of Directors have declared Final Dividend of Rs 7 per Equity Share of Face Value of Rs 5 each of the Company (140% of Face Value). Total Dividend for FY23 stood at Rs 12 per Equity Share (Interim Dividend of Rs 5 per Equity Share). Commenting on the results, 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 Rs 558 crore, and PAT grew by 33% to Rs 169 crore. Our holistic approach has also aided us in achieving strong AUM growth of 18% YoY at Rs 38,993 crore. 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 its 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.” Result PDF
Conference Call with Anand Rathi Wealth Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Financial services company Anand Rathi Wealth announced Q3FY23 results: Consolidated 9MFY23: Total Revenue increased 33% to Rs 397 crore PAT grew 37% to Rs 125 crore Net flows grew 94% to Rs 3,715 crore AUM increased 20% to Rs 37,500 crore Share of Equity Mutual Funds in AUM increased to 48% (PY 45%) Trail Revenue grew 27% Number of active client families increased 19% to over 8,200 Zero Regret RM attrition in Q3 FY23 Commenting on the Results, Rakesh Rawal, Chief Executive Officer, said: “Our emphasis is on providing uncomplicated, holistic and standardised solutions to our clients that have helped us consistently deliver robust performance at Anand Rathi Wealth. In 9M, FY23 revenue grew by 32%, and PAT by 37%. This approach has also aided us in achieving strong AUM growth of 20% YoY at Rs 38,517 crore. Indian HNIs have begun to shift from physical assets to financial assets as a means of wealth creation. This shift has led to significant momentum in addition to the number of client households. In the past year, we have added 1,292 client families. Our total client families as on December 31, 2022, stood at 8,202. During these volatile times, the strong addition of clients is a testimony to the quality of services we provide. While talking about Relationship Manager (RM), we have added 24 RMs on a net basis, taking our total RM count to 277. Given the favourable macro-economic climate and the rise of local millionaires and billionaires, we believe there is a significant untapped market for the wealth management sector." Commenting on the same, Feroze Azeez, Deputy Chief Executive Officer, said: “Despite short-term volatility, the mid and long-term outlook for the Indian equity market seems highly promising. We have delivered strong performance across verticals. Our net flows for 9M FY23 stood at Rs 3,715 crore, growth of 94%, and the net flows in Q3 FY23 stood at Rs 1,241 crore, growth of 74%. At the industry level, the net flows of the equity mutual fund de-grew by 55% for Q3 FY23 and 3% for 9MFY23. This speaks of the value which we add for our clients. In the past year, post listing, the company has outperformed its own expectations and we anticipate our long-term commitment to offering the most efficient wealth solutions to our clientele will enable us to achieve 20-25% growth in the years ahead. We also saw a Zero regret RM attrition in Q3 FY23.” Result PDF
Finance company Anand Rathi Wealth announced Q2FY23 results: Consolidated: Anand Rathi Wealth Limited reported a consolidated net profit of Rs 43 crore Q2FY23, an increase of 41% compared to Q2FY22 and total revenue during the same period rose 33% to Rs 138 crore The consolidated net profit of Q2FY23 is higher by 8% as compared to Rs 40 crore for Q1FY23 and total revenue for Q2FY23 is higher by 3% as compared to Rs 134 crore for Q1FY23 The Company reported a consolidated net profit of Rs 83 crore for H1FY23, an increase of 37% compared to H1FY22 and total revenue during same period rose 34% to Rs 272 crore The Board of Directors have declared an Interim Dividend of Rs 5 per equity share of face value of Rs 5 each of the company (100% of Face Value) Private Wealth: Total Revenue increased by 35% to Rs 262 crore PAT grew by 38% to Rs 82 crore Net flows grew by 106% to Rs.2,474 crore AUM increased by 15% to Rs 34,893 crore Share of Equity Mutual Funds in AUM increased to 48% (PY 43%) Trail Revenue grew by 33% Active client families increased by 19% to 7,928 The number of RMs stood at 271 (PY 234) Digital Wealth: AUM increased by 23% to Rs 949 crore Number of active clients grew by 14% to 4,065 Omni Financial Advisors: Leader in technology product sale to 5,439 MFDs as of September 30, 2022 Assets under Administration (AuA) of MFDs on this platform is Rs 85,932 crore as on September 2022, 30 Commenting on the Results, Mr. Rakesh Rawal, Chief Executive Officer said: “Despite all the external challenges, I am happy to share that our Company has reported robust performance in H1 FY23 wherein the revenue grew by 34%, and PAT by 37%. This performance was backed by strong growth in AUM of 16% YoY at Rs 35,842 crores. Ano the r area where we witnessed strong momentum was the addition in number of client families. We added almost 1,250 client families in last one year. Our total client families as on September 30, 2022 stood at 7,928. On the Relationship Manager (RM) side, we have added 37 RMs on a net basis. We continue to remain optimistic about the business growth while assisting our clients achieve high quality experience in the journey of wealth solutions.” Result PDF