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CRISIL Assigns 'A/Stable' Rating to ARSSBL's Rs 1400 Cr Bank Facilities; CP Reaffirmed at 'A1'
CRISIL has assigned a new 'CRISIL A/Stable' rating to Anand Rathi Share and Stock Brokers' Rs 1,400 crore bank loan facilities and reaffirmed its 'CRISIL A1' rating for its Rs 100 crore commercial paper. The rating highlights the company's significantly bolstered net worth, which rose to Rs 1,346 crore following a Rs 745 crore IPO infusion in September 2025. While the company maintains a healthy adjusted RoE of 22%, its cost-to-income ratio remains high at 75-80% due to its hybrid business model. The low gearing of 0.6x and adequate liquidity provide a stable financial cushion against market volatility.
Key Highlights
Assigned 'CRISIL A/Stable' rating for Rs 1,400 crore bank loan facilities.
Reaffirmed 'CRISIL A1' rating for Rs 100 crore commercial paper programme.
Net worth surged to Rs 1,346 crore as of Dec 2025 from Rs 507 crore in March 2025.
Reported PAT of Rs 90 crore for 9M FY26 with an adjusted annualized RoE of 22%.
Maintains low leverage with a gearing ratio of 0.6x as of December 31, 2025.
💼 Action for Investors
Investors should view this credit rating assignment as a positive validation of the company's strengthened balance sheet and low leverage post-IPO. The focus should remain on the company's ability to manage high operating costs and navigate evolving SEBI regulations for the broking industry.