Motilal Oswal Financial Services
MOTILALOFS NSE
Motilal Oswal Financial Services
Capital Markets F&ONSE: MOTILALOFS BSE: 532892 Wealth
Key Fundamentals
MidcapWealthCapital MarketsMarket Cap
₹59,613 Cr
Volatility
Moderate
P/E Ratio
31.18
EBITDA
₹3,912 Cr
Return on Equity
14.4%
Debt to Equity
1.65
Book Value
₹213.97
EPS
₹46.83
52W High
₹1,097.1
52W Low
₹614.9
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company is expected to give good quarter
- Company's median sales growth is 18.2% of last 10 years
Weaknesses
1- Company has high debtors of 158 days.
Growth Rate
Revenue Growth
11.87% lower than
3Y
Net Income Growth
-25.63% lower than
3Y
Cash Flow Change
-600%
ROE
-36.09% lower than
3Y
ROCE
-31.51% higher than
3Y
EBITDA Margin (Avg.)
-24.36% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk medium
Motilal Oswal Financial Services has a market cap of ₹59,613 Cr and trades at a P/E of 30.9x and P/B of 4.75x. The company has delivered strong long-term compounded sales growth of 24% over 10 years and a 10-year ROE averaging 22%, but TTM profit has declined 29% year-over-year, and last year's ROE dropped to 16% from a 3-year average of 23%.
Bull Case 8
- Strong long-term revenue compounder — 10-year compounded sales CAGR of 24%, well above typical capital markets peers
- Median sales growth of 18.2% over the last 10 years demonstrates consistency across market cycles
- 10-year compounded profit CAGR of 27% indicates robust long-term earnings power
- 3-year stock CAGR of 66% reflects significant shareholder value creation in recent years
- 3-year ROE of 23% and 5-year ROE of 22% show sustained high returns on equity capital
- Company is expected to deliver a good upcoming quarter, suggesting near-term operational momentum
- 5-year stock CAGR of 39% and 10-year stock CAGR of 24% indicate consistent long-term wealth creation
- 3-year compounded sales growth of 31% shows an acceleration in the revenue trajectory over the medium term
Bear Case 8
- TTM profit declined 29% year-over-year, a sharp reversal from the 3-year profit CAGR of 26%
- Last year ROE dropped to 16% from a 3-year average of 23%, indicating a meaningful deterioration in return efficiency
- High debtor days of 158 days signals significant working capital risk and potential collection challenges
- P/B of 4.75x is elevated and leaves limited margin of safety if earnings deterioration continues
- P/E of 30.9x prices in significant growth, which is at odds with the recent TTM profit decline of 29%
- 5-year compounded profit CAGR of only 7% versus 5-year sales CAGR of 21% suggests margin compression over the medium term
- Dividend yield of just 0.59% provides minimal income cushion during periods of capital depreciation
- Capital markets sector is inherently cyclical — revenue and profits are tied to market volumes and sentiment, making the 31% 3-year sales CAGR potentially unsustainable
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago Neutral 2
- Investor meetings in September Sep 7
Motilal Oswal will participate in analyst meetings on Sep 11 and Sep 28, 2026, to discuss Q2FY27 results. No unpublished price-sensitive information will be shared.
- NCD issuance under consideration Sep 2
Finance Committee meets on Sep 7, 2026, to consider NCD issuance via private placement in one or more tranches. Size and coupon rate remain undisclosed.
TL;DR: A quiet week for Motilal Oswal with only routine corporate disclosures. The company is maintaining regular investor engagement with two analyst meetings scheduled in September and exploring debt funding via NCD private placement. No material positives or negatives emerged, and the near-term outlook hinges on Q2FY27 results expected around the Sep 11 and Sep 28 meetings.
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,502 | 1,655 | 1,791 | 2,154 | 2,314 | 2,841 | 1,993 | 1,190 | 2,737 | 1,849 | 2,112 | 2,676 | 3,426 |
| Expenses | 664 | 740 | 703 | 916 | 926 | 1,025 | 932 | 910 | 1,018 | 1,009 | 1,006 | 2,471 | 1,456 |
| Operating Profit | 837 | 915 | 1,089 | 1,238 | 1,388 | 1,816 | 1,061 | 280 | 1,720 | 840 | 1,105 | 205 | 1,970 |
| OPM % | 56% | 55% | 61% | 57% | 60% | 64% | 53% | 24% | 63% | 45% | 52% | 8% | 57% |
| Other Income | 32 | 1 | 6 | 18 | 19 | 15 | 26 | 18 | 7 | 11 | 8 | 16 | 6 |
| Interest | 216 | 241 | 262 | 302 | 327 | 354 | 319 | 298 | 295 | 317 | 336 | 388 | 414 |
| Depreciation | 17 | 17 | 24 | 24 | 22 | 23 | 27 | 26 | 26 | 28 | 29 | 28 | 28 |
| PBT | 636 | 658 | 809 | 930 | 1,059 | 1,454 | 741 | -27 | 1,406 | 506 | 748 | -194 | 1,534 |
| Tax % | 17% | 19% | 18% | 22% | 17% | 23% | 24% | 137% | 18% | 28% | 24% | 13% | 17% |
| Net Profit | 528 | 532 | 661 | 725 | 884 | 1,122 | 566 | -63 | 1,163 | 363 | 566 | -219 | 1,274 |
| EPS in Rs | 8.9 | 8.96 | 11.11 | 12.13 | 14.77 | 18.71 | 9.42 | -1.08 | 19.38 | 6.04 | 9.42 | -3.68 | 21.14 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 772 | 1,080 | 1,923 | 2,751 | 2,450 | 2,358 | 3,626 | 4,298 | 4,178 | 7,069 | 8,340 | 9,381 | 10,063 |
| Expenses | 516 | 647 | 915 | 1,357 | 1,543 | 1,546 | 1,610 | 2,178 | 2,301 | 3,002 | 3,794 | 5,504 | 5,943 |
| Operating Profit | 256 | 432 | 1,008 | 1,394 | 907 | 812 | 2,016 | 2,120 | 1,877 | 4,067 | 4,546 | 3,877 | 4,120 |
| OPM % | 33% | 40% | 52% | 51% | 37% | 34% | 56% | 49% | 45% | 58% | 55% | 41% | 41% |
| Other Income | 1 | 1 | -27 | 1 | 12 | 8 | -80 | 22 | 19 | 61 | 78 | 42 | 42 |
| Interest | 31 | 174 | 442 | 528 | 517 | 494 | 430 | 478 | 596 | 1,014 | 1,298 | 1,336 | 1,456 |
| Depreciation | 31 | 35 | 33 | 37 | 24 | 40 | 48 | 48 | 58 | 83 | 99 | 111 | 112 |
| PBT | 196 | 225 | 506 | 829 | 378 | 285 | 1,458 | 1,616 | 1,242 | 3,032 | 3,226 | 2,472 | 2,593 |
| Tax % | 27% | 27% | 28% | 25% | 25% | 24% | 18% | 19% | 25% | 19% | 22% | 24% | — |
| Net Profit | 145 | 172 | 371 | 632 | 298 | 190 | 1,265 | 1,312 | 935 | 2,446 | 2,508 | 1,872 | 1,983 |
| EPS in Rs | 2.56 | 2.97 | 6.23 | 10.72 | 5.04 | 3.1 | 21.49 | 21.97 | 15.74 | 40.96 | 41.74 | 31.06 | 32.92 |
| Div. Payout % | 29% | 29% | 22% | 20% | 42% | 32% | 12% | 11% | 16% | 9% | 12% | 19% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 60 | 60 |
| Reserves | 1,281 | 1,422 | 1,772 | 2,871 | 3,039 | 3,071 | 4,447 | 5,659 | 6,237 | 8,717 | 11,019 | 12,828 |
| Borrowings | 795 | 2,589 | 5,067 | 5,323 | 5,158 | 4,627 | 5,693 | 6,152 | 10,278 | 13,787 | 14,732 | 21,255 |
| Other Liabilities | 855 | 1,064 | 1,586 | 2,202 | 2,149 | 2,370 | 3,887 | 5,033 | 6,419 | 9,252 | 8,106 | 9,258 |
| Total Liabilities | 2,945 | 5,090 | 8,439 | 10,411 | 10,360 | 10,084 | 14,041 | 16,860 | 22,949 | 31,771 | 33,916 | 43,401 |
| Fixed Assets | 300 | 292 | 294 | 300 | 302 | 333 | 350 | 357 | 466 | 603 | 754 | 769 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 115 | 115 |
| Investments | 814 | 1,231 | 1,767 | 2,807 | 2,686 | 3,088 | 3,922 | 4,685 | 4,787 | 6,501 | 8,851 | 10,299 |
| Other Assets | 1,831 | 3,566 | 6,378 | 7,304 | 7,372 | 6,662 | 9,769 | 11,818 | 17,696 | 24,667 | 24,197 | 32,218 |
| Total Assets | 2,945 | 5,090 | 8,439 | 10,411 | 10,360 | 10,084 | 14,041 | 16,860 | 22,949 | 31,771 | 33,916 | 43,401 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -98 | -1,242 | -1,980 | 248 | 195 | 952 | -139 | 1,011 | -3,058 | -350 | 1,215 | -6,071 |
| Investing | -606 | -380 | -314 | -157 | 14 | -353 | -273 | -447 | -274 | -247 | -1,077 | -958 |
| Financing | 747 | 1,718 | 2,420 | -98 | -141 | -129 | 861 | 282 | 3,770 | 3,306 | 745 | 6,154 |
| Net Cash Flow | 44 | 96 | 125 | -7 | 68 | 470 | 449 | 845 | 439 | 2,709 | 882 | -875 |
| Free Cash Flow | -124 | -1,277 | -2,032 | 207 | 168 | 882 | -199 | 956 | -3,212 | -495 | 930 | -6,160 |
| CFO/OP | -25 | -274 | -183 | 31 | 41 | 137 | 0 | 58 | -148 | 2 | 39 | -139 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 279 | 240 | 239 | 138 | 226 | 115 | 92 | 85 | 90 | 99 | 105 | 158 |
| Inventory Days | — | — | — | — | — | — | — | — | — | — | — | 0 |
| Cash Conversion Cycle | 279 | 240 | 239 | 138 | 226 | 115 | 92 | 85 | 90 | 99 | 105 | 158 |
| Working Capital Days | -76 | -278 | -209 | -241 | -103 | -189 | -206 | -279 | -402 | -329 | -191 | -147 |
| ROCE % | 14% | 13% | 18% | 18% | 11% | 10% | 22% | 19% | 13% | 21% | 19% | 13% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Motilal Oswal Financial Services insights
61 extracted metrics + investor summaries across FY10–FY27.
Documents
1
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
10h - Motilal Oswal Financial Services Limited has informeds regarding allotment of 1,84,582 securities pursuant to ESOP/ESPS at its meeting held on May 11, 2026 10h - Motilal Oswal Financial Services Limited has informeds regarding allotment of 1,84,582 securities pursuant to ESOP/ESPS at its meeting held on May 11, 2026
2
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
7 May - Transcript of the Earnings Conference Call ('Con-Call') with Investor(s)/Analyst(s) held on Thursday, April 30, 2026 to discuss Financial Performance for Q4 & FY 2025-26. 7 May - Transcript of the Earnings Conference Call ('Con-Call') with Investor(s)/Analyst(s) held on Thursday, April 30, 2026 to discuss Financial Performance for Q4 & FY 2025-26.
3
Intimation Regarding Letter Of Appointment Issued To Motilal Oswal Asset Management Company Limited, A Material Wholly-Owned Subsidiary Company, To Act As Sponsor Of Pension Fund
6 May - MOAMC received PFRDA approval on May 5, 2026 to sponsor a pension fund under NPS. 6 May - MOAMC received PFRDA approval on May 5, 2026 to sponsor a pension fund under NPS.
4
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
30 Apr - The Audio Recording of the Con-Call held on April 30, 2026 to discuss Financial Performance for Q4 & FY 2025-26 is made available on the … 30 Apr - The Audio Recording of the Con-Call held on April 30, 2026 to discuss Financial Performance for Q4 & FY 2025-26 is made available on the …
5
Intimation Of Submission Of Application For Reclassification Of Certain Members From 'Promoter Group' Category To 'Public' Category
30 Apr - Company submitted application to reclassify 11 promoter group members as public, totaling 24.45 lakh shares. 30 Apr - Company submitted application to reclassify 11 promoter group members as public, totaling 24.45 lakh shares.
Frequently Asked Questions about Motilal Oswal Financial Services
What does Motilal Oswal Financial Services Ltd do?
Motilal Oswal Financial Services Ltd. was founded in 1987 is a well-diversified financial services firm. The company has a network spread 550+ cities and towns comprising 2,500+ Business Locations operated by their Business Partners and 16,00,000+ customers. [1]
Where is Motilal Oswal Financial Services Ltd (MOTILALOFS) listed?
Motilal Oswal Financial Services Ltd trades as MOTILALOFS on the NSE and under code 532892 on the BSE.
Which sector does Motilal Oswal Financial Services Ltd belong to?
Motilal Oswal Financial Services Ltd is classified under the Capital Markets sector, in the Wealth industry.
What is the market capitalisation of Motilal Oswal Financial Services Ltd?
Motilal Oswal Financial Services Ltd has a market capitalisation of ₹59,613 Cr, which places it in the Large Cap band.
What is the PE ratio of Motilal Oswal Financial Services Ltd?
Motilal Oswal Financial Services Ltd trades at a PE ratio of 31.18, on earnings per share of ₹46.83, against a book value of ₹213.97 per share.
What is the 52-week high and low of Motilal Oswal Financial Services Ltd?
Over the last 52 weeks Motilal Oswal Financial Services Ltd has traded between ₹614.9 and ₹1,097.1.
Does Motilal Oswal Financial Services Ltd pay dividends?
Motilal Oswal Financial Services Ltd has a dividend yield of 0.59%.
What is the Return on Equity (ROE) of Motilal Oswal Financial Services Ltd?
Motilal Oswal Financial Services Ltd reported a return on equity of 14.40%. Its debt-to-equity ratio is 1.65.
Company Information
Motilal Oswal Financial Services Ltd. was founded in 1987 is a well-diversified financial services firm. The company has a network spread 550+ cities and towns comprising 2,500+ Business Locations operated by their Business Partners and 16,00,000+ customers. [1]
Website motilaloswalgroup.com
CEO Mr. Raamdeo Ramgopal Agrawal
Employees 13,540
Listed 2007-09-11
Face Value ₹ 1
Issued Size 60,11,31,194
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