Analysts/Institutional Investor Meet/Con. Call Updates

Ref No: 51/2026-27 Date:15th July, 2026 The Manager, The Manager, Listing Department, Listing Department, The National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, 5th Floor, Plot C/1, G Block, Phiroze Jeejeebhoy Tower, Bandra - Kurla Complex, Bandra (E), Dalal Street, Mumbai - 400 001. Mumbai - 400 051. Tel No.: 2659 8235 Tel no.: 22721233 Fax No.: 26598237/ 26598238 Fax No.: 22723719/ 22723121/ 22722037 Trading Symbol: ANANDRATHI Scrip Code: 543415 Dear Sir/Madam, Subject: Q1 & FY27 Earnings Conference Call Transcript We are enclosing herewith copy of the transcript of the Company’s Q1 & FY27 earnings conference call dated 10th July, 2026. The transcript is also available on the Company’s website at https://www.anandrathiwealth.in/financial.php . This is for your information and record. Thanking You, Yours faithfully, For Anand Rathi Wealth Limited Pravin Jogani Company Secretary and Compliance Officer M. No. A25413 Enclosed: as above Anand Rathi Wealth Limited Q1FY27 Earnings Conference Call July 10, 2026 MANAGEMENT: • MR. FEROZE AZEEZ – JOINT CHIEF EXECUTIVE OFFICER • MR. JUGAL MANTRI – GROUP CHIEF FINANCIAL OFFICER • MR. RAJESH BHUTARA – CHIEF FINANCIAL OFFICER • MR. VISHAL SANGHAVI – HEAD - INVESTOR RELATIONSHIP Page 1 of 18 Anand Rathi Wealth Limited July 10, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Quarter 1 of Financial Year 2027 Earnings Call hosted by Anand Rathi Wealth Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Feroze Azeez, Joint CEO of Anand Rathi Wealth Limited. Thank you and over to you, Mr. Azeez. Feroze Azeez: Thank you so much, Michelle ma'am. Good afternoon and thank you everyone for joining the earnings conference call for quarter ended 30th June 2026. We have today with us the Group CFO - Mr. Jugal Mantri, the CFO of ARWL - Mr. Rajesh Sir Bhutara, and our Head Investor Relations - Mr. Vishal Sanghavi. As we have always shared with you, we remain committed to delivering consistent profit growth. I am pleased to report that we have delivered another quarter of consistent performance, this is our 19th quarterly result. I would like to sincerely thank our clients, employees, and all our stakeholders for their continued trust and support. Despite the volatility which you all are aware of in the Q1FY27, our uncomplicated business model and unwavering focus on client outcomes helped us deliver consistent, market-agnostic growth. This once again demonstrates the strength and resilience and the scalability of our business. The mean Y-o-Y growth of our last 17 quarters, skipping the first two because there was a COVID base, profit has grown at a mean median of 31.7% Y-o-Y and a mean of, sorry, mean was 31.7% and median was 33.1%. Seldom do listed companies measure the consistency of the earnings and the standard deviation of these 17 numbers, which are Y-o-Y PAT growths declared for the last 17 quarters, the standard deviation was 4.8% reflecting the consistency of our performance mathematically rather than in English. Total AUM grew by 21% Y-o-Y to INR1,06,300 crores as on June 30th, 2026, supported by the net flows of INR2,743 crores for the quarter despite high volatility. Equity capital markets reflect our clients' continued confidence in our business model. So, this quarter, we had INR1,900 crores of net sales in equity mutual funds alone. In our flagship business, in the last 12 months, we have added 1,600 plus new client families on a net basis bringing our total number to close to 14,000, to be precise 13,941. Client attrition rate in terms of AUM lost for Q1 FY27 was 0.09%. We love to see this number second decimal, but yes, we would love to see it zero in fact, underscoring the strength of our client-centric uncomplicated approach. Zero regret RM attrition for the quarter is another highlight. Now I will hand over the conference to our Group CFO, Mr. Jugal Mantri to give you all the updates of the subsidiary companies and the consolidated financial performance of the company. Jugal sir, can I hand this over to you? Jugal Mantri: Thanks Feroze bhai. Thanks Michelle. Good afternoon everyone. Let me first talk about our other businesses in subsidiaries. Digital wealth business, which is B2B2C business, registered Page 2 of 18 Anand Rathi Wealth Limited July 10, 2026 AUM growth of 23% year-on-year to INR2,526 crores and number of clients increased by 16% to 7,320. OFA business, which is a SaaS platform, has 6,890 subscribers with platform assets of INR1.66 lakh crores for the quarter ended 30th June 2026. We have also started operations in UK and very soon you all will see this business flowing from there and start contributing. Now let me give you all brief about Q1 FY27 consolidated financial performance. Excluding fair value gains on investments, ESOP expenses, and related tax effects, our consolidated total revenue for the Q1 FY27 stood at INR336 crores compared to INR284 crores for Q1 FY26, registering an 18% Y-o-Y growth. Profit after tax stood at INR116 crores showing a 24% Y-o- Y growth compared to INR94 crores in Q1 FY26. Profit after tax margin is higher at 34.4% for Q1 FY27 compared to 33% in Q1 FY26. During the first quarter of FY27, we have achieved 24% of full year revenue guidance of INR1,415 crores and 25% of its full year PAT guidance of INR460 crores. Given the strong business we have built and the opportunities ahead, we remain confident of achieving our guidance. Reported numbers including fair value gains on investments, ESOP expenses, and the related combined tax effect, total revenue for Q1 FY27 stood INR430 crores and PAT at INR163 crores. That's all on the financial numbers. Now we can start question and answer session. Over to you, Miss Michelle. Moderator: Thank you very much, sir. Ladies and gentlemen, we will now begin the question-and-answer session. The first question is from the line of Shubhi Gupta from Trinetra Asset Managers. Please go ahead. Shubhi Gupta: Good afternoon, sir. So, my first question is that we are expecting Platinum families to grow from 211 level to about 450 to 500 over two years. So, I wanted to ask what is the Quarter 1 update on that number and how much is the contribution from them? My second question is that clients from less than INR5 crores bracket upgrades themselves to INR50 crores bracket. So, I wanted to understand at what rate does that happen? Every year how much of the first bucket upgrades to the second bucket? Feroze Azeez: Didn't get your second question, Shubhi, if you can repeat that for me. Shubhi Gupta: Sir, yes, so basically clients from less than INR5 crores bracket upgrades themselves to INR50 crores bracket, which is our target market. So wanted to understand that at what rate does that happen? Like every year how much of that first bucket gets transferred to the or upgrades themselves to the second bucket? Feroze Azeez: Correctly, so first question is what's the update on the Platinum clients. I think Platinum clients would be about 230 now approximately from 211. And since this is a segment which we have launched just about two and a half years back, when we actually launched this segment, we had about 40-45 clients only. So, if you ask me whether we will get to that 400-500 number sooner than later, of course. The second question automatically is the next question of the first question or the subset to the first question; how many people upgrade? INR5 to INR50 crores is a large segment. So, we are Page 3 of 18 Anand Rathi Wealth Limited July 10, 2026 now also trying to segment our clients into Gold and Platinum. These will be the only two segments we wish currently to have. So, I think the upgrade rates would be some [Showing first 8,000 characters — download PDF for full document]