Intimation of Transcript

October 21, 2026 To, To, BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex, Mumbai- 400001 Bandra (E), Mumbai - 400051 Scrip Code: 544530 Symbol: ARSSBL Dear Sir/ Madam, Subject: Earnings Conference Call Transcript for the Second Quarter and Half Year Ended September 30, 2026 held on October 14, 2026 Dear Sir/Madam, This is in continuation to our letter dated October 14, 2026, wherein we had informed regarding the audio link of the earnings call with analysts/investors for the second quarter and half year ended September 30, 2026. In this regard, we are enclosing herewith copy of the earnings conference call transcript for the second quarter and half year ended September 30, 2026, held on October 14, 2026. The transcript is also available on the Company’s website at https://anandrathi.com/investors We request you to kindly take the above on record. Thanking you. Yours faithfully, For Anand Rathi Share and Stock Brokers Limited Chetan Prajapati Company Secretary and Compliance Officer Membership No.: A39130 Enclosed: As above Anand Rathi Share and Stock Brokers Limited Registered & Corporate Office: Express Zone, A Wing, 10th Floor, Western Express Highway, Diagonally, Opp. Oberoi Mall, CIN : L67120MH1991PLC064106 Dindoshi, Goregaon (East) Mumbai 400 063, Maharashtra, India. Tel : +91 22 6281 7000  E-mail: secretarial@rathi.com Website: www.anandrathi.com “Anand Rathi Share and Stock Brokers Limited Q2 & H1 FY27 Earnings Conference Call” October 14, 2026 MANAGEMENT: MR. PRADEEP GUPTA – CHAIRMAN AND MANAGING DIRECTOR – ANAND RATHI SHARE AND STOCK BROKERS LIMITED MR. ROOP KISHOR BHOOTRA – WHOLE-TIME DIRECTOR – ANAND RATHI SHARE AND STOCK BROKERS LIMITED MR. TARAK SHAH – CHIEF FINANCIAL OFFICER – ANAND RATHI SHARE AND STOCK BROKERS LIMITED MODERATOR: MR. DIWAKAR PINGLE – E&Y Page 1 of 12 Anand Rathi Share and Stock Brokers Limited October 14, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Anand Rathi Share and Stock Brokers Limited Q2 and H1 FY27 Earnings Conference Call. As a reminder, all participants 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 touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Diwakar Pingle from E&Y for the opening remarks. Thank you, and over to you, sir. Diwakar Pingle: Thank you. Good evening, and welcome to the Q2 and H1 FY27 Earnings Call of Anand Rathi Share and Stock Brokers Limited. The company has published its results and uploaded Investor Presentation Stock Exchanges and website. Before we begin, a disclaimer. Some statements during today's call will be forward-looking in the nature. These statement are subject to risk and uncertainties may cause actual results to differ materially from those anticipated… Moderator: I'm sorry to interrupt you, Mr. Pingle, but your voice is low. Diwakar Pingle: Such statements are based on management's current beliefs and assumptions and on information presently available to management. Participants are cautioned not to place undue reliance on these forward-looking statements on making investment decisions. To take us through the results and answer your questions today, we have with us Mr. Pradeep Gupta, Chairman and Managing Director; Mr. Roop Kishor Bhootra; Whole-Time Director; Mr. Tarak Shah, Chief Financial Officer; other members of the management team. I will now hand the call over to Mr. Gupta for his opening remarks. Thank you, and over to you, sir. Pradeep Gupta: Thank you, Diwakar. Good evening to all, and a warm welcome to our Q2 and H1 Financial Year '27 Earnings Call. We all experienced uncertain environment of a capital market due to geopolitical tension, rising interest rates, persistent inflationary pressure and impact of El Nino across various global economies. As a result of this, market sentiment in our country has remained relatively subdued. Before discussing our performance for the period, the secondary market -- sorry, the secondary market continued to exhibit some turbulence during the reporting period. The Nifty 50 declined by 5.22% on a quarterly basis and 1.3% on a half yearly basis, including a 6% correction in September. The weakness was more pronounced in several large cap and sector indices, reflecting a more cautious risk environment and softer market sentiment. However, beneath this short-term volatility, the structural drivers of India's capital markets remained firmly in set. The quarter witnessed significant deepening of India's capital markets supported by rising investor participation across the primary market, direct equity and mutual products. IPO activity remained buoyant during the quarter with 108 companies raising over INR90,000 crores, Page 2 of 12 Anand Rathi Share and Stock Brokers Limited October 14, 2026 reflecting stronger issuer confidence and healthy pipeline of business seeking access to public markets. The Mutual Fund industry quarterly average assets under management increased by approximately 3.5% from INR84.2 lakh crores in Q1 '27, to INR87 lakh crores in Q2 FY27. While closing AUM moderated to INR82.64 lakh crores in September, largely reflecting debt fund outflow and market movement, it remained to 9.3% higher year-on-year basis. Investor commitment through systematic investment plan, which is SIP, also remained exceptionally strong. SIP contributing across the 10 crores milestone in August '26 with monthly SIP inflows reaching to INR32,490 crores in September '26, extending the trade of sustained retail participation and reinforce the growing preference for long-term wealth creation through financial assets. The primary market presented an even stronger picture after a measured Q1 '27, which witnessed 46 mainboard and SME IPO raising approximately INR6,567 crores accelerated sharply in Q2 FY27, with a bit as many as 108 IPO, raising absolute, approximately INR90,000 crores during the second quarter. Consequently, first half of '27 recorded 154 mainboard IPO, which raised almost INR96,585 crores, which is compared with 186 IPOs raising INR71,000-approximate crores in first half, representing almost 36% growth and capital raises. Finally, it is encouraging to see that retail investor participation in capital markets continue to strengthen, which is net addition to 31.1 lakh Demat account during September '26, with overall Demat account base in India, nearly about 24 crores versus 22.5 crores at the beginning of the year, which represents almost 7% growth in the interim period. This broadening investment base is also driving increased adoption of financing led investment solutions with industry margin trading facility book growing by almost 41% year-on-year to INR156,261 crores as on 12th October '26. Together, these trends underscore the growing maturity of India's capital market. These developments reinforce the long-term opportunities for Anand Rathi Share and Stock Brokers company as investors increasingly seek integrated broking finance and distribution solution. During the quarter, our MTF book grew by 38% year-on-year basis to INR1,499 crores. Assets under management, which has increased by almost 29% year-on-year. Our Asset Management has grown by 29% to 99,990 million, while under custody grew by almost 13% year-on-year, to almost 1.15 trillion. This metric reflects deeper client engagement and continued trust in our platform. We also continue to witness a gradual evolution in our revenue mix, while broking and related services remained a significant contributor to overall revenue. Non-broking business has steadily increased in their contribution over the year, improving the diversification and resilience of our earnings profile. Page 3 of 12 Anand Rathi [Showing first 8,000 characters — download PDF for full document]