Motilal Oswal Financial Services Ltd.

NSE: MOTILALOFS · Stockbroking & Allied

52W Range₹615 ₹1,097

Snapshot

Unlock Motilal Oswal Financial Services Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Motilal Oswal Financial Services Limited is a diversified financial services firm providing broking, asset management, investment banking, and home finance solutions. The company serves a broad client base ranging from high-net-worth individuals to institutional investors and corporate entities.

Business Model

The company generates revenue through brokerage commissions, management fees from asset and portfolio management services, interest income from home finance, and advisory fees from investment banking transactions. It operates as a subsidiary of Passionate Investment Management Private Limited.

Growth Outlook

Growth is driven by the expansion of its wealth management and asset management platforms, alongside increasing penetration in the Indian capital markets. The firm continues to leverage its institutional broking and investment banking capabilities to capture market share in advisory services.

Key Risks

  • Market Volatility. Significant fluctuations in equity and commodity markets can adversely impact brokerage volumes and asset management fee income.
  • Regulatory Risk. Changes in SEBI or RBI regulations regarding financial products and lending practices could constrain operational flexibility and margins.
  • Credit Risk. The home finance and credit solutions segments are exposed to potential defaults by borrowers, which could impact the company's asset quality.
  • Competitive Pressure. Intense competition from discount brokers and traditional financial institutions may lead to margin compression in the broking business.

Price

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Key Metrics

REVENUE

₹9,374 Cr

TTM · consolidated

+12.2%YoY

NET PROFIT

₹1,872 Cr

TTM · consolidated

-25.3%YoY

EPS

₹31.16

TTM · consolidated

-25.6%YoY

RETURN ON EQUITY

16.2%

TTM · consolidated

-10.6 ppYoY

RETURN ON CAPITAL EMPLOYED

11.0%

TTM · consolidated

-3.2 ppYoY

P/E

30.6x

Q4 FY26 · consolidated

30.6 vs 20.1x5Y avg

EBITDA MARGIN

41.7%

TTM · consolidated

-13.2 ppYoY

NET PROFIT MARGIN

-8.2%

Q4 FY26 · consolidated

-3.0 ppYoY

DEBT TO EQUITY

1.2x

Q1 FY24 · consolidated

+0.16xYoY

Peers · Stockbroking & Allied

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Motilal Oswal Financial Services Ltd.MOTILALOFS
39,29830.6512.2%41.7%16.2%11.0%+1.9%
360 ONE WAM Ltd.360ONE
40,11435.8531.3%65.3%15.7%-9.7%
Nuvama Wealth Management Ltd.NUVAMA
20,99610.6911.5%53.1%28.5%-75.4%
Angel One Ltd.ANGELONE
20,8714.8417.65-1.9%35.7%15.9%-87.7%
IIFL Capital Services Ltd.IIFLCAPS
8,06318.620.6%42.6%21.3%+2.5%
Indo Thai Securities LimitedINDOTHAI
2,94618.48244.3%83.3%32.2%-89.7%

As of Q4 FY26

Financials