Motilal Oswal Financial Services Ltd.

•

motilaloswal.comBSE: 532892NSE: MOTILALOFS

Market Cap₹ 61,618 Cr.

Current Price

High / Low₹ 1,097 / 615

Stock P/E58.4

Book Value₹ 141

Price to Book4.88

Dividend Yield0.59 %

ROCE10.5 %

ROE12.5 %

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

Solid return on assets for a lender - ROA of 3.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 21.1%
Company has delivered good sales growth of 16.7% CAGR over last 5 years
Operating margins have improved to 40.8% from 36.2%
Company has been maintaining a healthy dividend payout of 39.1%

CONS

Valuation is stretched - P/E of 58.4 is well above its own 5-year median (4.6)
Company has delivered a poor profit growth of 4.2% over past five years
Expensive relative to growth - PEG of 3.3

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

Peer comparison

Financial ServicesFinanceFinance - Stock Broking

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 150 NIFTY MIDCAP 100 NIFTY 500

S.No.	Name
1.	MCX	3340.05	55.24	85168.55	0.24	413.44	103.47	702.00	88.10	48.10	70.40
2.	MOTILALOFS	1023.00	31.12	61617.67	0.59	1273.71	9.53	3425.76	25.49	12.68	57.49
3.	360ONE	1096.25	35.40	44679.26	1.09	330.53	16.11	1226.09	26.85	12.28	63.01
4.	NUVAMA	1784.20	30.39	32909.41	1.56	305.64	15.83	1376.22	22.59	17.52	52.80
5.	ANGELONE	299.40	26.52	27366.25	1.35	2313.98	1921.51	14296.91	1153.53	14.87	33.92
6.	CHOICEIN	749.85	70.28	16704.90	0.00	60.61	26.37	309.79	32.46	19.43	33.83
7.	IIFLCAPS	337.65	18.67	10642.01	0.89	184.16	4.92	631.48	3.13	23.27	35.76
8.	SHAREINDIA	189.75	11.42	4152.21	0.84	124.41	47.45	448.09	31.25	21.00	44.76
9.	ARSSBL	505.70	24.57	3189.27	0.99	23.35	2.35	246.10	22.37	19.72	39.54
10.	MONARCH	370.95	16.24	2941.94	0.27	45.18	-0.15	90.89	-7.25	33.26	66.00
11.	GEOJITFSL	80.02	30.80	2233.54	1.87	19.83	-30.83	160.40	7.46	9.35	20.55
12.	ALGOQUANT	63.80	39.47	1793.39	0.00	164.80	3610.04	778.70	1328.81	33.57	33.64

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	868	10,549	1,110	1,467	1,439	1,765	1,231	815	1,409	1,084	1,208	935	1,776
	488	6,878	532	714	716	803	674	658	701	672	689	758	1,029
Operating Profit	396	4,815	593	771	803	977	564	164	804	420	532	183	1,042
OPM %	45.64%	45.64%	53.46%	52.57%	55.82%	55.37%	45.83%	20.06%	57.08%	38.72%	44.08%	19.59%	58.70%
Other Income	34	100	8	20	27	23	39	30	30	33	30	37	35
Interest	71	997	118	160	192	212	210	199	177	184	216	261	271
Depreciation	15	147	21	21	19	21	24	23	23	24	25	24	24
	345	3,770	461	609	619	768	369	-28	634	246	321	-65	782
Tax %	16.78%	18.32%	17.83%	15.22%	16.16%	22.97%	21.65%	70.76%	16.08%	20.87%	23.65%	24.82%	14.97%
Net Profit	287	3,080	379	516	519	591	289	-8	532	194	245	-49	665
	5	21	6	9	9	10	5	-0	9	3	4	-1	1

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	132	1,355	1,282	1,111	2,198	2,579	2,666	4,563	5,359	4,759	5,003
	5	731	798	795	1,096	1,552	1,700	2,314	2,857	2,819	3,147
Operating Profit	126	624	484	316	1,102	1,027	966	2,248	2,503	1,940	1,856
OPM %	95.87%	46.07%	37.78%	28.47%	50.15%	39.83%	36.24%	49.28%	46.70%	40.76%	37.09%
	-27	4	31	37	-62	38	26	82	125	131	135
Interest	5	93	104	129	128	162	217	466	812	838	932
Depreciation	7	29	18	30	37	39	50	72	87	96	98
Profit before Tax	88	506	394	194	876	864	725	1,792	1,728	1,135	1,283
Tax %	0.06%	21.10%	17.76%	-1.39%	14.33%	18.20%	21.56%	16.84%	19.48%	18.76%	17.77%
Net Profit	87	399	324	197	751	707	569	1,490	1,391	923	1,055
EPS	5.94	26.75	21.56	13.09	50.16	47.69	38.26	100.03	23.22	15.33	—
Dividend Payout %	41.29%	30.91%	38.27%	30.10%	19.53%	21.09%	26.00%	14.00%	21.54%	39.15%	—

COMPOUNDED SALES GROWTH

10 Years:: 46%
5 Years:: 17%
3 Years:: 21%

COMPOUNDED PROFIT GROWTH

10 Years:: 35%
5 Years:: 4%
3 Years:: 17%

STOCK PRICE CAGR

10 Years:: 24%
5 Years:: 39%
3 Years:: 65%
1 Year:: 10%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 19%
3 Years:: 21%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	655	2,340	2,545	2,712	3,552	4,165	4,351	5,814	6,935	7,746
	367	1,277	1,421	1,431	2,080	2,172	3,737	6,773	8,866	13,879
Trade Payables	0	976	1,146	1,567	2,798	3,446	3,166	5,186	4,952	5,284
	123	670	580	802	1,109	1,601	3,375	3,833	1,508	3,904
Total Liabilities	1,159	5,277	5,706	6,526	9,554	11,399	14,643	21,621	22,321	30,872
	138	203	198	229	248	253	358	499	641	632
Capital Work in Progress	0	0	0	0	0	0	0	0	31	31
	658	3,118	3,095	3,780	3,944	4,347	4,056	5,476	6,418	6,859
	0	0	0	0	0	0	0	1,401	1,789	3,577
Cash & Bank	7	235	565	1,203	2,719	4,170	7,161	9,539	8,652	11,775
	357	1,720	1,848	1,314	2,643	2,629	3,068	4,705	4,789	7,998
Total Assets	1,159	5,277	5,706	6,526	9,554	11,399	14,643	21,621	22,321	30,872

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-104	575	434	862	-553	995	-1,185	-498	607	-5,527
Cash from Investing	-106	-289	-100	-295	111	-357	30	-487	-334	104
Cash from Financing	49	-181	-132	-70	443	-53	1,212	3,202	2,213	4,643
	-106	17	75	419	-106	469	-90	2,216	2,486	-780

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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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Name

MCX

3340.05

55.24

85168.55

0.24

413.44

103.47

702.00

88.10

48.10

70.40

MOTILALOFS

1023.00

31.12

61617.67

0.59

1273.71

9.53

3425.76

25.49

12.68

57.49

360ONE

1096.25

35.40

44679.26

1.09

330.53

16.11

1226.09

26.85

12.28

63.01

NUVAMA

1784.20

30.39

32909.41

1.56

305.64

15.83

1376.22

22.59

17.52

52.80

ANGELONE

299.40

26.52

27366.25

1.35

2313.98

1921.51

14296.91

1153.53

14.87

33.92

CHOICEIN

749.85

70.28

16704.90

0.00

60.61

26.37

309.79

32.46

19.43

33.83

IIFLCAPS

337.65

18.67

10642.01

0.89

184.16

4.92

631.48

3.13

23.27

35.76

SHAREINDIA

189.75

11.42

4152.21

0.84

124.41

47.45

448.09

31.25

21.00

44.76

ARSSBL

505.70

24.57

3189.27

0.99

23.35

2.35

246.10

22.37

19.72

39.54

MONARCH

370.95

16.24

2941.94

0.27

45.18

-0.15

90.89

-7.25

33.26

66.00

GEOJITFSL

80.02

30.80

2233.54

1.87

19.83

-30.83

160.40

7.46

9.35

20.55

ALGOQUANT

63.80

39.47

1793.39

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

868

10,549

1,110

1,467

1,439

1,765

1,231

815

1,409

1,084

1,208

935

1,776

488

6,878

532

714

716

803

674

658

701

672

689

758

1,029

Operating Profit

396

4,815

593

771

803

977

564

164

804

420

532

183

1,042

OPM %

45.64%

53.46%

52.57%

55.82%

55.37%

45.83%

20.06%

57.08%

38.72%

44.08%

19.59%

58.70%

Other Income

100

Interest

997

118

160

192

212

210

199

177

184

216

261

271

Depreciation

147

345

3,770

461

609

619

768

369

-28

634

246

321

-65

782

Tax %

16.78%

18.32%

17.83%

15.22%

16.16%

22.97%

21.65%

70.76%

16.08%

20.87%

23.65%

24.82%

14.97%

Net Profit

287

3,080

379

516

519

591

289

-8

532

194

245

-49

665

-0

-1

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

132

1,355

1,282

1,111

2,198

2,579

2,666

4,563

5,359

4,759

5,003

731

798

795

1,096

1,552

1,700

2,314

2,857

2,819

3,147

Operating Profit

126

624

484

316

1,102

1,027

966

2,248

2,503

1,940

1,856

OPM %

95.87%

46.07%

37.78%

28.47%

50.15%

39.83%

36.24%

49.28%

46.70%

40.76%

37.09%

-27

-62

125

131

135

Interest

104

129

128

162

217

466

812

838

932

Depreciation

Profit before Tax

506

394

194

876

864

725

1,792

1,728

1,135

1,283

Tax %

0.06%

21.10%

17.76%

-1.39%

14.33%

18.20%

21.56%

16.84%

19.48%

18.76%

17.77%

Net Profit

399

324

197

751

707

569

1,490

1,391

923

1,055

EPS

5.94

26.75

21.56

13.09

50.16

47.69

38.26

100.03

23.22

15.33

—

Dividend Payout %

41.29%

30.91%

38.27%

30.10%

19.53%

21.09%

26.00%

14.00%

21.54%

39.15%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

655

2,340

2,545

2,712

3,552

4,165

4,351

5,814

6,935

7,746

367

1,277

1,421

1,431

2,080

2,172

3,737

6,773

8,866

13,879

Trade Payables

976

1,146

1,567

2,798

3,446

3,166

5,186

4,952

5,284

123

670

580

802

1,109

1,601

3,375

3,833

1,508

3,904

Total Liabilities

1,159

5,277

5,706

6,526

9,554

11,399

14,643

21,621

22,321

30,872

138

203

198

229

248

253

358

499

641

632

Capital Work in Progress

658

3,118

3,095

3,780

3,944

4,347

4,056

5,476

6,418

6,859

1,401

1,789

3,577

Cash & Bank

235

565

1,203

2,719

4,170

7,161

9,539

8,652

11,775

357

1,720

1,848

1,314

2,643

2,629

3,068

4,705

4,789

7,998

Total Assets

1,159

5,277

5,706

6,526

9,554

11,399

14,643

21,621

22,321

30,872

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-104

575

434

862

-553

995

-1,185

-498

607

-5,527

Cash from Investing

-106

-289

-100

-295

111

-357

-487

-334

104

Cash from Financing

-181

-132

-70

443

-53

1,212

3,202

2,213

4,643

-106

419

-106

469

-90

2,216

2,486

-780

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