MOTILALOFS

Motilal Oswal Financial Services share price & financials

Price
₹953.45
Market cap
₹51.3k Cr
Sector
Financial Services
Calls analysed
6
Latest concall · Q1 FY27 · call held 24 Jul 2026

Motilal Oswal Financial Services Limited Q1 FY27

Operating PAT ₹609 cr +14%

What went well

  • Operating profit after tax grew by 14% YoY to ₹609 crores in Q1 FY27, driven by Asset and Private Wealth businesses.
  • Asset and Private Wealth AUM reached ₹4.5 lakh crores, up 34% YoY, with net flows of ₹10,325 crores.
  • Private Wealth ARR revenue increased by 42% YoY to ₹157 crores, contributing to a more stable earnings profile.

What to watch

  • Wealth Management distribution revenues fell 50% YoY due to a high base of transaction-based revenue (TBR) in the prior year.
  • HFC credit costs increased QoQ from 10 bps to 1% in Q1 FY27, though management expects correction during the year.
Read the full call →

What Motilal Oswal Financial Services Limited does

Motilal Oswal Financial Services is an integrated Indian capital-markets group that began in 1987 as a sub-broking outfit and now operates across retail and institutional broking, wealth and private wealth management, asset management (mutual funds and private alternates such as private equity, real estate and private credit funds), investment banking and institutional equities, and affordable housing finance through its NBFC subsidiary. It earns through a mix of transaction-based brokerage, recurring management/advisory fees on client assets, investment banking deal fees, interest income from its lending and housing-finance books, and returns on its proprietary treasury investment book.

Segments

  • Wealth Management
  • Asset Management (including Alternates)
  • Private Wealth Management
  • Capital Markets
  • Housing Finance
Total clients
15.5+ million
AMC investor folios
10.0+ million
Broking clients
5.5+ million
Relationship Managers (RMs)
~1,550
Equity research analysts
100+
Equity research coverage
360+ listed stocks tracked
Founded 1987Headquarters Mumbai, India Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 4 delivered 4 missed 7 open
  • Private Equity Fund V Raise went quiet said Q4 FY25 Promised: Targeting to raise at least $900 million, which is 2x the size of our Fund IV. Q1 FY27: No update provided on the final close of IBEF V, which was expected in Q4FY26.
  • Housing Finance AUM on track said Q1 FY26 Promised: We expect housing finance AUM to double in the next 2 to 3 years. Q1 FY27: AUM reached 6,164 cr (+23% YoY). Management reiterated expectation of 'strong growth in the next 2 to 3 years'.
  • Group PBT Margin delivered said Q1 FY26 Promised: We expect to maintain the margins we delivered previous financial year this financial year as well (~50%). Q4 FY26: FY26 Operating PAT grew 16% YoY to ₹2,360 cr. While exact PBT margin % wasn't restated, core operating profitability was maintained.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 25.2%, net profit up 9.5% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,841 1,993 1,190 2,737 1,849 −35%2,112 +6%2,676 +125%3,426 +25%
EBITDA1,816 1,061 280 1,720 840 −54%1,105 +4%205 −27%1,970 +15%
Net profit1,122 566 -63 1,163 363 −68%566 +0%-219 −248%1,274 +10%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +11.6% 1Y

₹0.6k₹0.7k₹0.8k₹0.9k₹1.0k₹1.1kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 31 Oct 2025Q3 FY26 — 28 Jan 2026Q4 FY26 — 7 May 2026Q1 FY27 — 24 Jul 2026

1Y: ₹920 on 10 Sept 2025 → ₹1,026.5. High ₹1,091.3 (28 Oct 2025), low ₹628.2 (23 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−7.3%
24 Jul
Q4 FY26
+1.1%
7 May
Q3 FY26
+7.9%
28 Jan
Q2 FY26
−4.6%
31 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 30.9% a year over 3 years, FY23 to FY26. Operating margin narrowed to 41.3%.

Year endingFY23FY24FY25FY26
Revenue₹4.2k Cr₹7.1k Cr₹8.3k Cr₹9.4k Cr
Operating profit₹1.9k Cr₹4.1k Cr₹4.5k Cr₹3.9k Cr
Operating margin44.9%57.4%54.5%41.3%
Interest₹596 Cr₹1.0k Cr₹1.3k Cr₹1.3k Cr
Depreciation₹59 Cr₹82 Cr₹98 Cr₹111 Cr
Net profit₹934 Cr₹2.4k Cr₹2.5k Cr₹1.9k Cr
Net margin22.4%34.4%30.1%20.0%
ROCE13.0%21.0%19.0%13.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹15 Cr₹15 Cr₹15 Cr₹15 Cr₹60 Cr₹60 Cr
Reserves₹4.4k Cr₹5.7k Cr₹6.2k Cr₹8.7k Cr₹12.8k Cr₹12.8k Cr
Borrowings₹5.7k Cr₹6.2k Cr₹10.3k Cr₹13.8k Cr₹15.7k Cr₹21.3k Cr
Other liabilities₹3.9k Cr₹5.0k Cr₹6.4k Cr₹9.3k Cr₹7.1k Cr₹9.3k Cr
Total liabilities₹14.0k Cr₹16.9k Cr₹22.9k Cr₹31.8k Cr₹35.6k Cr₹43.4k Cr
Fixed assets₹350 Cr₹357 Cr₹466 Cr₹603 Cr₹768 Cr₹769 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹116 Cr₹115 Cr
Investments₹3.9k Cr₹4.7k Cr₹4.8k Cr₹6.5k Cr₹10.8k Cr₹10.3k Cr
Other assets₹9.8k Cr₹11.8k Cr₹17.7k Cr₹24.7k Cr₹23.9k Cr₹32.2k Cr
Total assets₹14.0k Cr₹16.9k Cr₹22.9k Cr₹31.8k Cr₹35.6k Cr₹43.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +1.34 pp while promoters trimmed −0.60 pp. The shareholder count shrank 13% to 2,25,318.

Promoters
67.2%
FIIs
6.9%
DIIs
6.8%
Public
19.1%

Since Jun 2025

  • DIIs +1.34 pp
  • Promoters −0.60 pp
  • FIIs −0.43 pp

How it drifted, 12 quarters

Over this window promoters fell from 69.5% to 67.2% — −2.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 69.5%, FIIs 6.3%, DIIs 6.3%, Public 17.9%.Dec '23: Promoters 69.4%, FIIs 6.5%, DIIs 6.8%, Public 17.4%.Mar '24: Promoters 69.2%, FIIs 6.7%, DIIs 6.9%, Public 17.2%.Jun '24: Promoters 69.0%, FIIs 6.5%, DIIs 6.1%, Public 18.4%.Sep '24: Promoters 68.9%, FIIs 6.3%, DIIs 6.4%, Public 18.4%.Dec '24: Promoters 68.7%, FIIs 5.9%, DIIs 6.4%, Public 19.0%.Mar '25: Promoters 68.5%, FIIs 6.0%, DIIs 5.7%, Public 19.8%.Jun '25: Promoters 67.8%, FIIs 7.3%, DIIs 5.4%, Public 19.5%.Sep '25: Promoters 67.7%, FIIs 7.5%, DIIs 5.8%, Public 19.0%.Dec '25: Promoters 67.6%, FIIs 6.9%, DIIs 6.4%, Public 19.0%.Mar '26: Promoters 67.5%, FIIs 7.0%, DIIs 6.0%, Public 19.4%.Jun '26: Promoters 67.2%, FIIs 6.9%, DIIs 6.8%, Public 19.1%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Motilal Oswal Financial Services Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Raamdeo Ramgopal Agrawal 20.71%−0.16 pp
Motilal Oswal Family Trust 20.62%unchanged
Vaibhav Raamdeo Agrawal 5.13%unchanged
Navin Agarwal 5.07%unchanged
Pratik Motilal Oswal 4.47%unchanged
Suneeta Raamdeo Agrawal 4.23%unchanged
Raamdeo Agarwal HUF 2.98%unchanged
Motilal Oswal Individual2.24%unchanged
Vimla Motilal Oswal 1.50%−0.15 pp
Pratik Ranjit Mehta 1.48%unchanged
Natasha Aniruddha Malpani 1.47%unchanged
Pratiksha Pratik Mehta 1.47%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in MOTILALOFS

Filings to Aug 2026

0 new, 7 added, 2 trimmed, 0 sold out — net +1.00 L shares (+4.3%).

Held by funds
₹218 Cr
11 schemes
Biggest holder
HDFC Large and Mid Cap Fund
₹158 Cr · 0.5% of that fund
SchemeHoldingLast month
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹158 Crheld
Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund₹16 Cr+0.09 L
Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund₹11 Cr+0.02 L
SBI Arbitrage Fund SBI Mutual Fund₹11 Cr+0.56 L
Nippon India Arbitrage Fund Nippon India Mutual Fund₹11 Crheld
SBI Nifty Midcap 150 Index Fund SBI Mutual Fund₹5 Cr+0.02 L
HDFC Arbitrage Fund HDFC Mutual Fund₹5 Cr+0.32 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

7 added, 2 trimmed — net +1.00 L shares (+4.3%)

Funds are sitting on
+42%
vs est. average cost
Held by funds
₹218 Cr
11 schemes · ≈ 0.45% of the company
Biggest holder
HDFC Large and Mid Cap Fund
₹158 Cr · 0.5% of that fund

Shares held by these funds +150%

Aug '23 23.72 L shares Jul '26

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Motilal Oswal Financial Services Limited

Guides on how to read this kind of business and the numbers that matter.