IIFL Wealth Q4 Review - Strong Results, Sanguine FY22/23 Guidance: Anand Rathi

Indian two thousand rupee banknotes are arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

IIFL Wealth Q4 Review - Strong Results, Sanguine FY22/23 Guidance: Anand Rathi

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Anand Rathi Report

Driven by asset management company and good third party product sale, recurring assets grew 63%, pushing up IIFL Wealth Management Ltd.’s Q4 FY21 assets under management higher by 32% YoY.

The company achieved its guidance of FY21 AUM and improved that of FY22/23 to Rs 2.45 trillion/Rs 2.85 trillion (earlier guidance for FY22 was Rs 2.3 trillion).

It expects annual net flows of Rs 200 billion-250 billion (excluding inorganic growth) to aid AUM growth.

We raise our FY22E/23E AUM 3.2%/6.4%.

AUM would clock a 17% compound annual growth rate over FY21-23 to Rs 2.83 trillion.

Click on the attachment to read the full report:

Anand Rathi IIFL Wealth Management Company Update.pdf

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