Highlights of 9M FY23 (Y-o-Y):
Private Wealth (PW) (Holding Company)
- Total Revenue increased by 33% to ₹397 Crores
- PAT grew by 37% to ₹125 Crores
- Net f lows grew by 94% to ₹3,715 Crores
- AUM increased by 20% to ₹37,500Crores
- Share of Equi ty Mutual Funds in AUM increased to 48% (PY 45%)
- Trai l Revenue grew by 27%
- No of Act ive cl ient fami l ies increased by 19% to over 8,200
- Zero Regret RM at t ri t ion in Q3 FY23
Anand Rathi Wealth Limited reported a consolidated net profit of ₹43 crores for Oct – Dec 2022 (Q3FY23), an increase of 35% compared to Oct – Dec 2021 (Q3FY22) and total revenue of ₹140 crores representing an increase of 29%.
The Company reported a consolidated net profit of ₹126 crores for Apr – Dec 2022 (9MFY23), an increase of 37% compared to Apr – Dec 2021 (9MFY22) and total revenue during same period rose 32% to ₹412 crores
Commenting on the Results, Mr. 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 ₹38,517 crores.
Indian HNIs have begun to shift from physical assets to financial assets as a means of wealth creation. This shift has led to a significant momentum in addition of number of client households. In the past year, we have added 1,292 client families. Our total client families as on 31st December 2022 stood at 8,202. During these volatile times, the strong addition of clients is a testimony to the quality 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 significant untapped market for the wealth management sector.”
Commenting on the same, Mr. 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 ₹3,715 crores, growth of 94% and the net flows in Q3 FY23 stood at ₹1,241 crores, growth of 74% while at the industry level, the net flows of the equity mutual fund de-grew by 55% for Q3 FY23 and de-grew by 3% for 9MFY23. This speaks of value which we add for our clients.”
“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. We also saw a Zero regret RM attrition in Q3 FY23,” he added.