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Motilal Oswal Financial Services

MOTILALOFS NSE
₹1,013.00 +3.00 (+0.30%)
P/E
30.77
View as Markdown
MCP
Close 4 Nov 2026 ₹1,013.00 +25.50 +2.58% 1Y
Start ₹987.50

Key Fundamentals

MidcapCapital MarketsFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
12.70%
Debt to Equity
1.65
EPS (TTM)
₹32.92
Book Value
₹257.73
Market Cap
—
P/E (TTM)
30.77
P/B
3.93
ROE
15.50%
Dividend Yield
0.59%
EBITDA
₹3,912 Cr
52W High
₹1,090.25
52W Low
₹614.90
Day Range
₹996.60 – ₹1,029.35
Volume
12,84,256

Peer Comparison

Financial Services › Capital Markets › Wealth › Stockbroking & Allied

Motilal Oswal Financial Services peer comparison
Groww
₹207.2348.08₹1,31,118 Cr11.230.00%28.80%37.30%₹5,724 Cr₹2,693 Cr
Motilal Oswal Financial Services (this company)
₹1,013.0030.77₹61,868 Cr3.930.59%15.50%12.70%₹10,063 Cr₹1,984 Cr
360 One WAM
₹1,068.7034.83₹44,218 Cr3.671.27%14.40%12.10%₹4,664 Cr₹1,247 Cr
Nuvama Wealth Management
₹1,846.4030.99₹34,294 Cr8.310.75%27.40%17.50%₹4,884 Cr₹1,083 Cr
Angel One
₹312.1024.63₹28,381 Cr4.280.77%15.60%14.80%₹5,651 Cr₹1,155 Cr
IIFL Capital Services
₹349.0519.09₹10,997 Cr3.180.86%16.20%21.10%₹2,434 Cr₹572 Cr
Share India Securities
₹182.9211.01₹4,051 Cr1.380.49%13.00%18.40%₹1,577 Cr₹364 Cr
Median 7 companies₹349.0530.77₹34,294 Cr3.930.75%15.60%17.50%₹4,884 Cr₹1,155 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

53 Average

Data confidence 100/100

Category scores

Quality
64
Good
Returns, margins, earnings quality 22% weight
Valuation
46
Average
Cheap vs sector & own history 24% weight
Growth
53
Average
Sales & profit trajectory 9% weight
Financial Health
46
Average
Solvency, leverage, coverage 9% weight
Momentum
78
Strong
Trend strength, vol-adjusted 12% weight
Ownership
41
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish1711
OscillatorsNeutral171
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
52.75
Neutral
MACD (12,26,9)
−8.45
Bullish
SMA (50)
1,012.91
Bullish
SMA (200)
875.09
Bullish

As of

Analyst Rating

Based on 5 analysts
BUY100%

5 of 5 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
5
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+24.13%
5Y+20.94%
3Y+30.95%
1Y+12.48%
TTM+14.86%

Net profit

Net profit growth by window
10Y+26.96%
5Y+8.15%
3Y+26.04%
1Y−25.36%
TTM−28.84%

Operating cash flow

Operating cash flow growth by window
10YOutflow widened by ₹4,829 Cr
5YOutflow widened by ₹5,932 Cr
3YOutflow widened by ₹3,013 Cr
1YTurned negative
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+1.33 pp
5Y−14.27 pp
3Y−3.60 pp
1Y−13.18 pp
TTM−14.73 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,923 Cr
Mar 2018₹2,751 Cr
Mar 2019₹2,450 Cr
Mar 2020₹2,358 Cr
Mar 2021₹3,626 Cr
Mar 2022₹4,298 Cr
Mar 2023₹4,178 Cr
Mar 2024₹7,069 Cr
Mar 2025₹8,340 Cr
Mar 2026₹9,381 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹371 Cr
Mar 2018₹632 Cr
Mar 2019₹298 Cr
Mar 2020₹190 Cr
Mar 2021₹1,265 Cr
Mar 2022₹1,312 Cr
Mar 2023₹935 Cr
Mar 2024₹2,446 Cr
Mar 2025₹2,508 Cr
Mar 2026₹1,872 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹4,818 Cr +23.2% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 28 Oct 2026
AI opinion · based on fundamentals
Risk high

Motilal Oswal Financial Services trades at ₹968 as of 2026-10-28 with a market cap of ₹58,368 Cr and a P/E (TTM) of 29.4x. The company has delivered strong long-term compounded sales growth of 24% over 10 years, but TTM profit has declined 29% year-over-year, and ROE has moderated from a 3-year average of 23% to 16% in the last year.

Bull Case 7
  • Strong long-term revenue track record with 10-year compounded sales CAGR of 24% and median sales growth of 18.2% over the last decade, indicating a durable business franchise in Indian capital markets
  • Stock price CAGR of 62% over 3 years and 35% over 5 years reflects sustained wealth creation and market confidence in the business model
  • 10-year compounded profit CAGR of 27% demonstrates the company's ability to grow earnings meaningfully across market cycles
  • ROCE of 17.8% as of 2026-10-28 indicates reasonably efficient deployment of total capital employed in the business
  • TTM sales growth of 15% shows the top line continues to expand even as profit growth has slowed, suggesting operating leverage potential if margins recover
  • The stock is trading at ₹968, roughly 11% below its 52-week high of ₹1,090.25, having recovered significantly from its 52-week low of ₹614.90 — a 57% range from the low
  • Company is expected to deliver a good upcoming quarter, which could serve as a near-term catalyst for sentiment improvement
Bear Case 6
  • TTM compounded profit growth has turned sharply negative at -29%, a stark reversal from the 26% three-year CAGR and 27% ten-year CAGR, signaling near-term earnings pressure
  • ROE has dropped to 16% in the last year from a 3-year average of 23% and 5-year average of 22%, indicating deteriorating return efficiency on shareholder equity
  • Debt-to-equity ratio of 1.65 is elevated for a financial services firm, increasing balance sheet risk especially in a volatile capital markets environment
  • High debtor days of 158 suggest significant working capital locked in receivables, raising concerns about cash conversion and potential credit risk
  • P/B ratio of 4.53x as of 2026-10-28 is rich relative to the current ROE of 14.4%, implying the market is pricing in a return to higher profitability that may not materialise
  • 5-year compounded profit CAGR of only 7% — far below the 21% sales CAGR over the same period — points to margin compression and rising cost pressures over a medium-term horizon

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Motilal Oswal is undergoing a significant leadership reshuffle across its Wealth Management and Private Wealth verticals, with two senior exits offset by named successors and a new Alternates head. The rapid succession planning limits disruption risk, but execution under new leadership remains a near-term watch item. Investors should monitor whether key client relationships and AUM retention hold steady through this transition.

Headwinds 1
  • Key wealth leaders exit Nov 3

    Ajay Menon resigned as WTD and CEO of Wealth Management to pursue entrepreneurial ventures, and Ashish Shankar stepped down as MD & CEO of Private Wealth, removing two senior leaders from a key revenue segment.

Positives 1
  • New alternates business MD appointed Nov 3

    Padmanabh Sinha named MD & CEO of the Alternates business effective November 11, 2026, signaling continued strategic focus on the high-margin alternatives segment.

Neutral 1
  • Leadership succession announced Nov 3

    Vishal Tulsyan appointed Whole-time Director effective by January 31, 2027. Anupam Guha and Akash Hariani named as successors in Private Wealth to replace outgoing leaders.

Quarterly Results

₹ Cr
MOTILALOFS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
31.15
1
6.99
16.86
19
8.15
26
18
7
11
8
16
6
Interest
216
241
262
302
327
347
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 (₹)
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

₹ Cr
MOTILALOFS profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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 (₹)
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

₹ Cr
MOTILALOFS balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
MOTILALOFS cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

MOTILALOFS financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Motilal Oswal Financial Services insights

61 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 66.71%
  • Public 10.64%
  • Others 8.67%
  • DIIs 7.28%
  • FIIs 6.71%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

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.
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 PE ratio of Motilal Oswal Financial Services Ltd?
Motilal Oswal Financial Services Ltd trades at a PE ratio of 30.77 as of 4 Nov 2026, on earnings per share of ₹32.92, against a book value of ₹257.73 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 ₹1,090.25 as of 4 Nov 2026.
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 15.50%. 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.

Website motilaloswalgroup.com
CEO Mr. Raamdeo Ramgopal Agrawal
Employees 13,540
Listed 11 Sep 2007
Face Value ₹1

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