With great pleasure, I share that fiscal year 2023-24 has been a
landmark year with total revenue soaring by 35% year-on-year to 752 Crores. Our profits,
too, seen a substantial increase of 34% year-on-year to 226 Crores.
Dear Shareholders,
With great pleasure, I share that the fiscal year for us, with total
revenue soaring by 35% year-on-year to 752 Crores.
Our profits have also seen a substantial increase of 34% year-on-year,
reaching
226 Crores. These impressive results demonstrate the strong
leadership and exceptional human capital within our organisation. Our Assets Under
Management (AUM) have grown significantly from 38,993 Crores to
59,351 Crores, marking a 52% increase over the previous year.
In line with our policy of rewarding shareholders, we have declared a
final dividend of 9 per share, in addition to the interim dividend of 5 per share.
Furthermore, we have announced a buyback of 3,70,000 shares at a price
of 4,450 per share. We trust that our shareholders will appreciate these decisions.
Our financial success is deeply intertwined with the broader narrative
of India's economic resurgence, characterised by an impressive GDP growth rate of
7.6% during the year, up from 7% the previous fiscal year. India's economy has not
only held its ground but has thrived amid global instability and economic
unpredictability, exhibiting resilience and adaptability that many other nations aspire to
emulate.
At Anand Rathi Wealth Limited, our performance mirrors this
broader-24has been economic strength, achieving significant milestones in both revenue and
profitability.
India's growth trajectory is supported by several key factors: a
surge in manufacturing and construction activities, a doubling of foreign direct
investments over the past decade, and significant reforms that have enhanced the business
environment. The country's
The resilience of the Indian economy is particularly noteworthy amidst
global economic pressures. Despite geopolitical tensions affecting many regions,
India's stability and continued growth offer a beacon of hope and a wealth of
opportunities for businesses and investors alike. This favourable economic environment
supports the growth of sectors like wealth management, where there is an increasing demand
for sophisticated financial services and trusted advisors with time-tested track records.
market capitalisation has reached new landmark heights, making it the
fifth-largest globally and establishing India as a formidable player on the international
stage.
At Anand Rathi Wealth Limited, we are committed to leveraging these
opportunities to further our growth and enhance shareholder value. Our strategic
initiatives are aligned with national economic goals, focusing on inclusivity and
sustainability to ensure that our growth is not only profitable but also responsible. The
strength of the
Indian economy gives us confidence in our strategic direction and our
ability to navigate future challenges with agility and foresight.
As we continue this journey, our focus remains on positioning ourselves
to take full advantage of the dynamic economic landscape. Our commitment to excellence and
ethical business practices, coupled with our robust market understanding, will drive our
efforts to achieve sustained growth and continue delivering value to our stakeholders.
I wish you all the best!
With Regards,
Anand Rathi
Chairman & Non-Executive Director