• Revenue from Operations expanded 21.5% YoY to ₹ 2,482.0 million, with EBITDA and PAT growing 31.5% and 71.8% on a YoY basis, to ₹ 1,011.5 million and ₹ 370.0 million, respectively. EBITDA and PAT margins continued to be healthy at 40.8% and 14.9% respectively.
  • 9MFY26 Revenue from Operations stood at ₹ 6,765.1 million, reflecting a 4.7% YoY growth, while EBITDA and PAT grew at 12.6% and 3.0%, to stand at ₹ 2,685.4 million (39.7% EBITDA margin) and ₹ 877.2 million (12.9% PAT margin) respectively.
  • Margin Trading Facility book stood at ₹ 12,316.7 million, reflecting a 46.1% YoY growth, showcasing strong investor appetite and platform engagement.
  • Assets under Management grew by 32.1% YoY to ₹ 83,688.4 million, creating an enduring revenue pipeline for the future.

Mumbai : Anand Rathi Share and Stock Brokers Limited (BSE:544530) (NSE:ARSSBL), announced its unaudited consolidated financial results for the quarter and nine months period ended December 31, 2025.

KEY FINANCIAL HIGHLIGHTS AND OPERATING METRICS (CONSOLIDATED)

Q3FY26 | HEADLINE FINANCIAL INFORMATION

  • Revenue from Operations Rs. 2,482.0 million (21.5% ↑ YoY)
  • EBITDA Rs. 1,011.5 million (31.5% ↑ YoY)
  • PAT Rs. 370.0 million (71.8% ↑ YoY)
  • EBITDA Margin: 40.8%
  • PAT Margin: 14.9%

Q3FY26 | SEGMENTAL INFORMATION

  • Broking-Related Services Rs. 1,286.6 million (12.0% ↑ YoY)
  • Interest on MTF Rs. 438.3 million (45.7% ↑ YoY)
  • Distribution Income Rs. 250.6 million (37.7% ↑ YoY)
  • Other Income from Ops. Rs. 506.5 million (22.8% ↑ YoY)

9MFY26 | HEADLINE FINANCIAL INFORMATION

  • Revenue from Operations Rs. 6,765.1 million (4.7% ↑ YoY)
  • EBITDA Rs. 2,685.4 million (12.6% ↑ YoY)
  • PAT Rs. 877.2 million (3.0% ↑ YoY)
  • EBITDA Margin: 39.7%
  • PAT Margin: 12.9%

9MFY26 | SEGMENTAL INFORMATION

  • Broking-Related Services Rs. 3,553.6 million (12.3% ↓ YoY)
  • Interest on MTF Rs. 1,083.2 million (26.6% ↑ YoY)
  • Distribution Income Rs. 776.1 million (49.1% ↑ YoY)
  • Other Income from Ops. Rs. 1,352.1 million (31.1% ↑ YoY)

KEY OPERATIONAL INFORMATION (as of Dec 31, 2025)

  • AUC Rs. 1,057,727 million (3.7% ↑ QoQ | 47.7% ↑ YoY)
  • AUM Rs. 83,688 million (8.2% ↑ QoQ | 32.1% ↑ YoY)
  • MTF Book Rs. 12,317 million (13.6% ↑ QoQ | 46.1% ↑ YoY)
  • Active Clients* 158,601 (5.8% ↑ QoQ)

*For Q3FY26

Commenting on the results, Mr. Pradeep Gupta, Chairman and Managing Director, said: ” The Indian capital markets had a rough ride in FY26, with the Sensex and Nifty delivering lacklustre gains, under-performing other significant global peers. There was pressure from sustained selling by foreign investors, citing concerns over weak earnings, stretched valuations and currency volatility, which resulted in the benchmark indices remaining subdued despite brief mid-year rallies. Despite this backdrop, our business continued to grow. We delivered strong broking revenues, with Assets under Custody rising 48% year-on-year to ₹1.06 trillion, an affirmation of our clients’ trust and our disciplined approach to financial stewardship. Our non-broking businesses also registered meaningful growth, with the MTF book expanding 46% YoY to ₹12,317 million and Assets under Management increasing 32% YoY to ₹83,688 million. We will continue our focus on de-risking and stabilizing our earnings through increased exposure in the non-broking segments. In the era of discount and algorithm broking, we remain customer-oriented and our approach will always be relationship-based which is why over 54% of our clients have been with us since longer than 3 years. We take great pride in the enduring relationships that we have built – an affirmation about the consistency of our service, the relevance of our offerings, and the strength of our brand.”Mr. Roop Kishor Bhootra, Wholetime Director, added: “We are pleased to begin the new calendar year on a strong note, reporting robust growth in Q3FY26. Total revenue from operations rose 21% YoY to ₹2,482 million, while EBITDA rose 32% YoY to ₹1,012 million. Our bottom line surged 72% YoY to ₹370 million, delivering a healthy PAT margin of 14.9% and a record EBITDA margin of 40.8%. The core broking business remains resilient, with revenue climbing 12% YoY to ₹1,287 million. In the non-broking segment, interest income from MTF and Distribution income rose 43% YoY to ₹689 million, reaffirming the strength of our diversified strategy and the high potential of this segment. We added 5 branches during the quarter taking our footprint to 97 branches across the country thereby continuing to focus on disciplined execution and consistent sustainable growth.”