The December quarter turned out to be a strong one for Anand Rathi Wealth Ltd., at a time when many financial firms are still dealing with uneven market conditions. The wealth management company posted a solid set of Q3 numbers, showing that its business model continues to scale smoothly.
Revenue for the quarter jumped 22% year-on-year to ₹289.6 crore, up from ₹237 crore in the same period last year. Operating performance rose in tandem. EBITDA climbed 22.6% to ₹131.8 crore, while margins stayed remarkably stable at 45.5%, slightly higher than the 45.3% recorded a year ago.
In simple terms, Anand Rathi Wealth is growing without losing control over costs – a combination that investors usually look for in a long-term compounder.
📊 Last Quarter vs This Quarter (QoQ)
(Q2 = Sep 2025 | Q3 = Dec 2025 – Consolidated)
| Metric | Q2 FY26 (Sep 2025) | Q3 FY26 (Dec 2025) | Change |
|---|---|---|---|
| Sales (₹ Cr) | 297 | 290 | ▼ 2.4% |
| Expenses (₹ Cr) | 160 | 158 | ▼ |
| EBITDA (₹ Cr) | 137 | 131 | ▼ |
| EPS (₹) | 11.97 | 12.03 | ▲ |
📊 Last Year vs This Year (YoY)
(Q3 FY25 = Dec 2024 | Q3 FY26 = Dec 2025 – Consolidated)
| Metric | Q3 FY25 (Dec 2024) | Q3 FY26 (Dec 2025) | YoY Change |
|---|---|---|---|
| Sales (₹ Cr) | 237 | 290 | ▲ 22% |
| Expenses (₹ Cr) | 130 | 158 | ▲ |
| EBITDA (₹ Cr) | 107 | 131 | ▲ 22.6% |
| EPS (₹) | 9.28 | 12.03 | ▲ 29.6% |
What these numbers tell us is straightforward. On a year-on-year basis, the business is clearly expanding. Revenue, operating profit, and earnings per share have all moved sharply higher. The quarter-on-quarter picture is softer, with a small dip in revenue and operating profit. But even there, EPS has inched up, showing that shareholder returns remain intact.
This pattern is not unusual. Many businesses see uneven performance across quarters due to timing of orders, seasonality, or project cycles. What matters more is the broader direction, and here the direction is clearly upward.
The real strength lies in margins. Holding EBITDA margins above 45% quarter after quarter is rare for most mid-sized companies. It suggests a business that understands its costs, prices its products or services well, and has built operational discipline over time. High margins act as a safety net. They give the company room to invest, absorb shocks, and still remain profitable.
For investors, this kind of profile is attractive. It combines growth with stability. The annual numbers reinforce this picture. Revenue has risen steadily over the past few years, and profits have followed. Return on equity remains strong, indicating that capital is being used efficiently.
Going forward, a few questions will shape the story:
- Can the company maintain 20%+ growth?
- Will margins stay above the 45% mark as the business scales?
- How volatile will quarterly performance be?
The shareholding trend adds another layer. Institutional investors have been slowly increasing their presence, while public holding has eased slightly. That often signals growing confidence among long-term investors.
Q3 does not deliver fireworks, but it delivers something more valuable: consistency. In a market full of surprises, steady growth with strong margins is a story many investors are happy to hear.
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Disclaimer:
This article is for informational purposes only and does not constitute financial or investment advice. All data is based on publicly available information at the time of writing. Readers should conduct their own research or consult a qualified financial advisor before making any investment decisions. The publisher and author are not responsible for any losses arising from the use of this information.
