Motilal Oswal Financial Services Ltd.

•

motilaloswal.comBSE: 532892NSE: MOTILALOFS

Market Cap₹ 61,862 Cr.

Current Price

High / Low₹ 1,097 / 615

Stock P/E31.2

Book Value₹ 232

Price to Book3.00

Dividend Yield0.58 %

ROCE12.7 %

ROE15.8 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Wealth Management: 39.0% • Asset & Private Wealth Management: 32.1% • Treasury Investments: 13.7%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 24.8%
Solid return on assets for a lender - ROA of 3.5%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 20.9% CAGR over last 5 years
Company has a consistent dividend-paying track record

CONS

Valuation is stretched - P/E of 31.2 is well above its own 5-year median (2.5)
Company has delivered a poor profit growth of 9.2% over past five years
Operating margins have contracted to 41.3% from 44.9%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Stock Broking

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100 NIFTY MIDCAP 150 NIFTY TOTAL MKT

S.No.	Name
1.	MCX	3275.00	54.16	83509.83	0.24	413.44	103.47	702.00	88.10	48.10	70.40
2.	MOTILALOFS	1027.05	31.24	61861.61	0.58	1273.71	9.53	3425.76	25.49	12.68	57.49
3.	360ONE	1092.20	35.27	44514.20	1.10	330.53	16.11	1226.09	26.85	12.28	63.01
4.	NUVAMA	1735.60	29.56	32012.99	1.60	305.64	15.83	1376.22	22.59	17.52	52.80
5.	ANGELONE	305.00	27.01	27878.11	1.33	2313.98	1921.51	14296.91	1153.53	14.87	33.92
6.	CHOICEIN	758.85	71.12	16905.39	0.00	60.61	26.37	309.79	32.46	19.43	33.83
7.	IIFLCAPS	338.65	18.72	10673.53	0.89	184.16	4.92	631.48	3.13	23.27	35.76
8.	SHAREINDIA	199.05	11.98	4355.72	0.80	124.41	47.45	448.09	31.25	21.00	44.76
9.	ARSSBL	489.00	23.76	3083.95	1.02	23.35	2.35	246.10	22.37	19.72	39.54
10.	MONARCH	373.25	16.34	2960.18	0.27	45.18	-0.15	90.89	-7.25	33.26	66.00
11.	GEOJITFSL	78.34	30.15	2186.64	1.91	19.83	-30.83	160.40	7.46	9.35	20.55
12.	ALGOQUANT	64.67	40.01	1817.85	0.00	164.80	3610.04	778.70	1328.81	33.57	33.64

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,489	16,392	1,777	2,135	2,298	2,827	1,986	1,179	2,730	1,841	2,091	2,649	3,426
	664	9,931	703	916	926	1,025	932	910	1,018	1,009	1,006	2,471	1,898
Operating Profit	837	9,033	1,089	1,238	1,388	1,816	1,061	280	1,720	840	1,105	205	1,970
OPM %	56.23%	55.10%	61.25%	57.96%	60.42%	64.24%	53.43%	23.72%	62.99%	45.61%	52.87%	7.73%	57.49%
Other Income	32	115	6	18	19	15	26	18	7	11	8	16	6
Interest	216	2,411	262	302	327	354	319	298	295	317	336	388	414
Depreciation	17	173	24	24	22	23	27	26	26	28	29	28	28
	636	6,564	809	930	1,059	1,454	741	-27	1,406	506	748	-194	1,534
Tax %	17.27%	18.92%	18.20%	22.06%	16.53%	22.83%	23.58%	-137.02%	17.77%	28.28%	24.35%	-12.68%	16.96%
Net Profit	0	5,322	0	0	884	1,122	566	-63	1,163	363	566	-219	1,274
	9	36	11	12	15	19	9	-1	19	6	9	-4	2

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,841	2,751	2,534	2,139	3,625	4,297	4,177	7,105	8,339	9,374	10,007
	915	1,357	1,628	1,327	1,610	2,180	2,302	3,025	3,799	5,504	6,385
Operating Profit	926	1,393	906	811	2,015	2,117	1,875	4,079	4,540	3,870	3,622
OPM %	50.29%	50.66%	35.76%	37.94%	55.59%	49.27%	44.89%	57.42%	54.44%	41.28%	36.20%
	55	2	12	8	-79	22	21	74	84	42	42
Interest	442	528	517	494	430	475	596	1,039	1,298	1,336	1,456
Depreciation	33	37	24	40	48	48	58	83	99	111	112
Profit before Tax	506	829	378	285	1,458	1,616	1,242	3,032	3,226	2,465	2,593
Tax %	27.90%	24.83%	24.52%	24.47%	17.52%	18.88%	24.91%	19.34%	22.26%	24.32%	23.52%
Net Profit	365	623	285	215	1,203	1,311	933	2,446	2,508	1,865	1,983
EPS	24.79	42.32	19.67	12.20	83.70	88.38	62.66	163.83	41.74	31.06	—
Dividend Payout %	10.04%	19.82%	42.13%	32.31%	11.63%	11.38%	15.87%	8.55%	11.98%	19.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 24%
5 Years:: 21%
3 Years:: 31%

COMPOUNDED PROFIT GROWTH

10 Years:: 27%
5 Years:: 8%
3 Years:: 26%

STOCK PRICE CAGR

10 Years:: 24%
5 Years:: 39%
3 Years:: 67%
1 Year:: 12%

RETURN ON EQUITY

10 Years:: 22%
5 Years:: 23%
3 Years:: 25%
Last Year:: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	14	15	15	15	15	15	15	15	60	60
Minority Interest	29	35	41	37	32	26	31	37	51	64
	1,771	2,838	2,996	3,028	4,389	5,588	6,143	8,618	10,861	12,644
	4,649	5,389	5,185	4,628	5,734	6,208	10,315	14,125	15,173	21,694
Trade Payables	1,022	1,320	1,391	1,798	3,026	3,701	3,502	5,312	5,072	5,328
	955	814	712	487	846	1,322	2,943	3,664	2,698	3,611
Total Liabilities	8,439	10,411	10,339	9,992	14,041	16,860	22,949	31,771	33,916	43,401
	290	264	267	333	350	357	466	603	754	769
Capital Work in Progress	0	0	0	0	0	0	0	0	115	115
	1,770	2,807	2,686	3,088	3,922	4,685	4,787	6,501	8,851	10,299
	0	0	0	0	0	0	0	1,603	2,084	3,804
Cash & Bank	463	454	689	1,378	3,498	5,315	8,837	12,071	10,474	12,966
	5,916	6,886	6,697	5,192	6,271	6,503	8,860	10,993	11,639	15,448
Total Assets	8,439	10,411	10,339	9,992	14,041	16,860	22,949	31,771	33,916	43,401

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1,848	432	375	1,111	7	1,231	-2,784	-350	1,215	-6,071
Cash from Investing	-314	-157	14	-353	-273	-447	-274	-247	-1,077	-958
Cash from Financing	2,420	-98	-141	-129	861	282	3,770	3,306	745	6,154
	125	-7	68	470	449	845	439	2,709	882	-875

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.04	68.86	68.71	68.44	67.80	67.69	67.62	67.54	67.20
	6.46	6.34	5.88	6.01	7.29	7.52	6.93	7.03	6.86
	6.06	6.41	6.39	5.69	5.42	5.82	6.42	6.02	6.76
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	18.43	18.39	19.01	19.85	19.49	18.97	19.02	19.41	19.18

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07

Issue of Securities

2026-09-07 - Motilal Oswal Financial Services Limited has informed the Exchange about issue of Securities

2026-09-07

General Updates

2026-09-07 - Motilal Oswal Financial Services Limited has informed the Exchange about Intimation of Analysts/Investors Meetings/Conferences

2026-09-02

Updates

2026-09-02 - Motilal Oswal Financial Services Limited has informed the Exchange regarding 'Fund raising by way of Issuance of Non-Convertible Debentures'.

2026-08-12

Allotment of Securities

2026-08-12 - Motilal Oswal Financial Services Limited has informed the Exchange regarding allotment of 1,76,529 securities pursuant to ESOP/ESPS at its meeting held on August 12, 2026

2026-08-10

Updates

2026-08-10 - Motilal Oswal Financial Services Limited has informed the Exchange regarding 'Press Release - Motilal Oswal Asset Management Company crosses ₹2 Lakh Crores in Assets Under Management ( AUM ) '.

2026-08-05

General Updates

2026-08-05 - Revision in ESG Rating received from ICRA ESG Ratings Limited: Upgrade in Impact Rating to 80 (Outstanding) from 76 (Good)

2026-08-05

General Updates

2026-08-05 - Motilal Oswal Financial Services Limited has informed the Exchanges about Intimation of Analysts/Investors Meetings/Conferences

2026-07-31

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-31 - Motilal Oswal Financial Services Limited has informed the Exchange about Transcript

2026-07-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-24 - Motilal Oswal Financial Services Limited has informed the Exchange about Link of Recording

News

Recent coverage and analyst commentary for MOTILALOFS

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Motilal Oswal Financial Services Ltd.

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Free 5nance Account

Name

MCX

3275.00

54.16

83509.83

0.24

413.44

103.47

702.00

88.10

48.10

70.40

MOTILALOFS

1027.05

31.24

61861.61

0.58

1273.71

9.53

3425.76

25.49

12.68

57.49

360ONE

1092.20

35.27

44514.20

1.10

330.53

16.11

1226.09

26.85

12.28

63.01

NUVAMA

1735.60

29.56

32012.99

1.60

305.64

15.83

1376.22

22.59

17.52

52.80

ANGELONE

305.00

27.01

27878.11

1.33

2313.98

1921.51

14296.91

1153.53

14.87

33.92

CHOICEIN

758.85

71.12

16905.39

0.00

60.61

26.37

309.79

32.46

19.43

33.83

IIFLCAPS

338.65

18.72

10673.53

0.89

184.16

4.92

631.48

3.13

23.27

35.76

SHAREINDIA

199.05

11.98

4355.72

0.80

124.41

47.45

448.09

31.25

21.00

44.76

ARSSBL

489.00

23.76

3083.95

1.02

23.35

2.35

246.10

22.37

19.72

39.54

MONARCH

373.25

16.34

2960.18

0.27

45.18

-0.15

90.89

-7.25

33.26

66.00

GEOJITFSL

78.34

30.15

2186.64

1.91

19.83

-30.83

160.40

7.46

9.35

20.55

ALGOQUANT

64.67

40.01

1817.85

0.00

164.80

3610.04

778.70

1328.81

33.57

33.64

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,489

16,392

1,777

2,135

2,298

2,827

1,986

1,179

2,730

1,841

2,091

2,649

3,426

664

9,931

703

916

926

1,025

932

910

1,018

1,009

1,006

2,471

1,898

Operating Profit

837

9,033

1,089

1,238

1,388

1,816

1,061

280

1,720

840

1,105

205

1,970

OPM %

56.23%

55.10%

61.25%

57.96%

60.42%

64.24%

53.43%

23.72%

62.99%

45.61%

52.87%

7.73%

57.49%

Other Income

115

Interest

216

2,411

262

302

327

354

319

298

295

317

336

388

414

Depreciation

173

636

6,564

809

930

1,059

1,454

741

-27

1,406

506

748

-194

1,534

Tax %

17.27%

18.92%

18.20%

22.06%

16.53%

22.83%

23.58%

-137.02%

17.77%

28.28%

24.35%

-12.68%

16.96%

Net Profit

5,322

884

1,122

566

-63

1,163

363

566

-219

1,274

-1

-4

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,841

2,751

2,534

2,139

3,625

4,297

4,177

7,105

8,339

9,374

10,007

915

1,357

1,628

1,327

1,610

2,180

2,302

3,025

3,799

5,504

6,385

Operating Profit

926

1,393

906

811

2,015

2,117

1,875

4,079

4,540

3,870

3,622

OPM %

50.29%

50.66%

35.76%

37.94%

55.59%

49.27%

44.89%

57.42%

54.44%

41.28%

36.20%

-79

Interest

442

528

517

494

430

475

596

1,039

1,298

1,336

1,456

Depreciation

111

112

Profit before Tax

506

829

378

285

1,458

1,616

1,242

3,032

3,226

2,465

2,593

Tax %

27.90%

24.83%

24.52%

24.47%

17.52%

18.88%

24.91%

19.34%

22.26%

24.32%

23.52%

Net Profit

365

623

285

215

1,203

1,311

933

2,446

2,508

1,865

1,983

EPS

24.79

42.32

19.67

12.20

83.70

88.38

62.66

163.83

41.74

31.06

—

Dividend Payout %

10.04%

19.82%

42.13%

32.31%

11.63%

11.38%

15.87%

8.55%

11.98%

19.32%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

1,771

2,838

2,996

3,028

4,389

5,588

6,143

8,618

10,861

12,644

4,649

5,389

5,185

4,628

5,734

6,208

10,315

14,125

15,173

21,694

Trade Payables

1,022

1,320

1,391

1,798

3,026

3,701

3,502

5,312

5,072

5,328

955

814

712

487

846

1,322

2,943

3,664

2,698

3,611

Total Liabilities

8,439

10,411

10,339

9,992

14,041

16,860

22,949

31,771

33,916

43,401

290

264

267

333

350

357

466

603

754

769

Capital Work in Progress

115

1,770

2,807

2,686

3,088

3,922

4,685

4,787

6,501

8,851

10,299

1,603

2,084

3,804

Cash & Bank

463

454

689

1,378

3,498

5,315

8,837

12,071

10,474

12,966

5,916

6,886

6,697

5,192

6,271

6,503

8,860

10,993

11,639

15,448

Total Assets

8,439

10,411

10,339

9,992

14,041

16,860

22,949

31,771

33,916

43,401

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-1,848

432

375

1,111

1,231

-2,784

-350

1,215

-6,071

Cash from Investing

-314

-157

-353

-273

-447

-274

-247

-1,077

-958

Cash from Financing

2,420

-98

-141

-129

861

282

3,770

3,306

745

6,154

125

-7

470

449

845

439

2,709

882

-875

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.04

68.86

68.71

68.44

67.80

67.69

67.62

67.54

67.20

6.46

6.34

5.88

6.01

7.29

7.52

6.93

7.03

6.86

6.06

6.41

6.39

5.69

5.42

5.82

6.42

6.02

6.76

Government

0.00

18.43

18.39

19.01

19.85

19.49

18.97

19.02

19.41

19.18

Motilal Oswal Financial Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Motilal Oswal Financial Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI