Motilal Oswal Financial Services Ltd(MOTILALOFS)

NSE: MOTILALOFSBSE: 532892

₹ 925-5.32%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 55,775 crNext results: 29 Oct 2026Website: www.motilaloswalgroup.comUpdated: 24 Oct 2026

About

Motilal Oswal Financial Services Ltd (MOFSL) is a diversified Indian financial services group spanning wealth management, asset and private wealth management, capital markets and housing finance. It reported FY26 revenue of 9373.97 crore and had a 12.8 million customer base as of FY25. Its overall market share was 8.1% in FY25, a gain of 30 bps. CRISIL upgraded its long-term credit rating to AA+ Stable in FY27, the highest ever given to a non-bank domestic capital market player in India.^[1][2]

Business segments

Wealth Management made up 39.0% of segment revenue in FY26, the largest of five reported segments.^[3]
Asset and Private Wealth Management made up 32.1% of segment revenue in FY26.^[3]
Treasury Investments made up 13.7% of segment revenue in FY26; Home Finance and Capital Markets each made up 7.6%.^[3]
Asset & Private Wealth Management contributed 55% of group operating PAT in Q1 FY27, up from 50% in FY26 and 42% in FY25.^[4]
Lending runs through Motilal Oswal Finvest (loans against shares) and Motilal Oswal Home Finance (affordable housing mortgages), as of FY25.^[2]

Reach and customers

Retail client base passed 48 lakh in FY25, with about 6.8 lakh new clients added that year.^[2]
9,191 external wealth managers for broking and distribution in 550+ cities, covering 98% of India's postal codes, as of FY25.^[2]
Assets under management and advice totalled ₹5.5 Trillion as of FY25; the group had 13,500+ employees as of March 31, 2025.^[2]
Launched the 'RIISE' Super App for investing across mutual funds, insurance and global equities in FY25.^[2]

Key operating numbers

Total AUM (AMC + MO Alternates) reached ₹2.12 lakh Cr in Q1 FY27, up 31% YoY; AMC AUM alone ₹1.90 lakh Cr (+26% YoY).^[4]
Private Wealth Management AUM grew 37% YoY to ₹2.4 lakh Cr in Q1 FY27.^[4]
SIP inflows were ₹4,064 Cr in Q1 FY27 (+16% YoY) with 4.3% SIP market share; net MF flow market share 4.2% vs AUM market share 2.9%.^[4]
Wealth Management ARR revenue grew 26% YoY to ₹304 Cr in Q1 FY27; ARR contribution reached 66% of net revenues.^[4]
Group MTF book grew 55% YoY to ₹7,800 Cr in Q1 FY27; ADTO brokerage market share stable at 7.6%.^[4]
Housing Finance AUM grew 23% YoY to ₹6,164 Cr in Q1 FY27; GNPA improved to 1.1% from 1.4% a year earlier; CRAR at 37.8%.^[4]
DP AUM stood at ₹2.29 Lakh Crore as of March 2025.^[2]

Asset management - AMC and Alternates

MO Alternates AUM grew 99% YoY to ₹21,784 Cr in Q1 FY27, covering private equity, real estate and private credit strategies.^[4]
Maiden Private Credit Fund completed its second close at ₹2,435 Cr in Q1 FY27, targeting a total raise of ₹3,000 Cr.^[4]
IBEF V, the fifth private equity fund, raised ~₹8,350 Cr (~$1 bn) at final close in FY26, nearly 2x the prior fund.^[5]
Carry income from mature Alternates funds was ₹66 Cr in Q1 FY27, up from ₹58 Cr in Q3 FY26 when it first began.^[4]

Wealth management - distribution and lending

Wealth Management distribution book grew 29% YoY to ₹45,575 Cr in Q1 FY27; loan book grew 33% YoY to ₹7,388 Cr.^[4]
Private Wealth served 8,200+ families (up 41% YoY as of Q3 FY26) via 410+ relationship managers; brokerage share of WM revenue fell from 60% in FY21 to 37% in Q3 FY26.^[6]
FY26 operating PAT grew 16% YoY to ₹2,360 Cr, led by 33% growth in Asset & Private Wealth Management profits.^[5]

Capital markets and institutional equities

Investment Banking completed 11 deals raising over ₹10,000 Cr in Q1 FY27; fee income grew 48% QoQ to ₹68 Cr; ranked #2 in IPO and QIP league tables.^[4]
In FY26, IB closed 52 deals with a cumulative raise of ₹83,600 Cr; fee income grew 39% YoY to ₹309 Cr; ranked #1 in QIP league table.^[5]
Institutional Equities research coverage stood at 384 stocks in Q1 FY27, with a target of ~500 companies.^[4]
Institutional equities had relationships with more than 880 institutions as of FY25.^[2]

Housing finance

Housing Finance disbursements grew 64% YoY to ₹646 Cr in Q1 FY27; ROE improved from 6.6% to 8.0% YoY.^[4]
In FY26, MOHFL raised $100 mn from the Asian Development Bank; adjusted disbursements grew 28% YoY to ₹2,291 Cr.^[5]
Home finance had 112 branches across 12 States/UTs and a salesforce of 1,329 as of FY25, with average LTV of 58%.^[2]

Credit rating and funding

CRISIL upgraded MOFSL's long-term rating to AA+ Stable in Q1 FY27, the highest among non-bank domestic capital market players, after an ICRA AA+ upgrade in Q2 FY26.^[4]
After the CRISIL upgrade, capital markets spread over AAA narrowed from 75 bps to 30-35 bps; borrowing costs expected to fall a further 15-20 bps over the next 12-18 months.^[4]

Recent developments

On 23 September 2026, SEBI approved Motilal Oswal Custodial Services Private Limited to act as a custodian of securities for institutional clients.^[7]
Commercial Real Estate Fund received regulatory approval and is planned for launch in H2 FY27.^[4]
4-5 new active mutual fund schemes are planned over the next 12 months, alongside more passive products.^[4]

Market Cap

₹55,775 Cr

High / Low

₹1,097 / 616

Stock P/E

28.1

Price / Book

4.3

Book Value

₹214

EPS

₹31.1

No. of Shares

60.19 Cr

ROE

15.6%

Sales

₹9,374 Cr

Net Profit

₹1,872 Cr

Promoter holding

66.7%

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Motilal Oswal Financial Services Ltd(MOTILALOFS)

About

Business segments

Reach and customers

Key operating numbers

Asset management - AMC and Alternates

Wealth management - distribution and lending

Capital markets and institutional equities

Housing finance

Credit rating and funding

Recent developments

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