Anand Rathi shares hit life-time high after Q4 results, 140% final dividend

Senco Gold

Today’s stock market: Anand Rathi shares caught bulls’ attention and achieved lifetime high of $884.55 per share on NSE in early morning trading on Thursday as a result of impressive Q4 earnings and a 140% final dividend. The board of directors of Anand Rathi Wealth Ltd. approved a final dividend of 7 rupees per equity share to be paid to its shareholders on Wednesday following the close of the stock market. On Wednesday, when Anand Rathi released its Q4 results, the dividend was granted.

Anand Rathi notified the Indian stock exchanges that the financial company’s consolidated net profit increased by a net 23% on a year-over-year basis in Q4FY23. The business has not yet disclosed the record date for dividend distribution. In October 2022, interim dividends of 5 rupees per share were already paid by Anand Rathi. Hence, Anand Rathi paid a total dividend of 12 per share in FY23.

Following the announcement of Anand Rathi’s Q4 results and final dividend of 140% on Wednesday, the company’s share price increased today. It reached an intraday high of $884.55 per share on the NSE, which is currently a record high for the company.

Dividend for Anand Rathi
Anand Rathi announced the final dividend payment to Indian stock exchanges “The Company’s Equity Shares have a Face Value of $5 apiece, and the Board of Directors has declared a Final Dividend of $7 per Equity Share—140% of Face Value. With an interim dividend of $5 per equity share, the total dividend for FY23 was $12 per equity share.”

Q4 results for Anand Rathi
Anand Rathi Wealth Limited reported a consolidated net profit of 43 crores for Jan.-Mar. 2023 (Q4FY23), an increase of 23% over Jan.-Mar. 2022 (Q4FY22), and total revenue of 147 crores, a rise of 28%, according to information on the BSE website,

The company recorded a consolidated net profit of 169 crores for the fiscal year that ended in March of 2023, an increase of 33% from the fiscal year that ended in April of 2022. For the same period, total revenue increased by 31% to 558 crores.

The company’s total sales increased by 31% to 538 crores, while its profit after tax (PAT) increased by 34% to 168 crores. The financial firm reported an increase in net flow of 785, to Rs. 4,896 crore.

Rakesh Rawal, Chief Executive Officer at Anand Rathi Wealth, commented on the Q4 results: “The Indian economy held up well throughout the year despite increased geopolitical unrest, greater inflation, and higher interest rates. The economy is projected to perform well this year because of the anticipated slowing of inflation and the recovery of the investment cycle.”

The CEO of Anand Rathi said, “In FY23, our revenue increased by 31% to 558 crores, and our PAT increased by 33% to 169 crores. We have also experienced significant AUM growth of 18% YoY at 38,993 crores because to our all-encompassing strategy.