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Motilal Oswal Financial Services Results: Latest Quarterly Results & Analysis

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Motilal Oswal Financial Services Ltd. 30 Oct 2025 17:55 PM
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Q2FY26 Quarterly Result Announced for Motilal Oswal Financial Services Ltd.

Capital Markets company Motilal Oswal Financial Services announced Q2FY26 results

  • Asset Management: PAT grew 46% YoY to Rs 180 crore Total AUM stood at Rs 1.77 lakh crore, up 46% YoY, driven by stellar Mutual Fund AUM growth of 57%. Net sales market share robust at 8.2%; SIP inflows surged 2.2x YoY to Rs 4,172 crore Completed the first close of Rs 6,900 crore for IBEF V fund and planning to close at 2x of previous fund raise.
  • Private Wealth Management: PAT grew 23% YoY to Rs 110 crore. Net Sales grew 3x in Q2FY26 to Rs 7,358 crore. AUM up 19% YoY to Rs 1.87 lakh crore, driven by client acquisition and higher productivity.
  • Wealth Management: PAT declined 24% to Rs 170 crore. Cash volume market share was robust at 7.1% and F&O Premium market share stands at 8.7%. Total blended ADTO market share stands at 8%. Distribution net flows grew 29% to Rs 3,079 crore in Q2FY26, distribution book grew by 34% CAGR since FY21 to Rs 40,544 crore in Sept’25.
  • Capital Markets: PAT grew 24% YoY to Rs 90 crore. Ranked #1 across IPOs, QIPs, and Rights Issues in H1.
  • Housing Finance: PAT grew 27% to Rs 34 crore. Disbursement growth of 48% YoY to Rs 544 crore, AUM grew 24% YoY to Rs 5,236 crore.
  • Treasury book grew 14% YoY to Rs 8,957 crore, treasury book delivered a healthy XIRR of 18.7% since inception and grew at a 42% CAGR supported by reinvestment of operating profits.

Other Highlights:

  • ICRA upgrades long-term rating to AA (Stable) from AA (positive); highest ever rating to any capital markets company.
  • MOFSL ranked 99th on FY25 Profits and 171th on Market Capitalisation among listed Indian companies, underscoring scale and financial strength.

Result PDF

Result PDF

Capital Markets company Motilal Oswal Financial Services announced Q1FY26 results

  • Consolidated net operating revenue grew by 24% YoY to Rs 1,412 crore.
  • Consolidated PBT margins robust at 49%.
  • Consolidated Total PAT is up 40% on YoY basis to Rs 1,430 crore.
  • Consolidated operating PAT is up 21% on YoY basis to Rs 522 crore.
  • Wealth Management business reported PAT of Rs 174 crore.
  • Asset & Private Wealth Management business PAT at Rs 224 crore, is up by 43% on YoY.
  • Capital market business recorded PAT of Rs 94 crore, is up by 64% YoY.
  • Housing finance business PAT at Rs 23 crore (post minority).
  • Robust Net worth of Rs 12,537 crore as of June 30, 2025, is up 28% YoY. Annualised ROE for Q1FY26 robust at 48%.

Motilal Oswal, MD & CEO, said: “Q1FY26 has been a landmark quarter for us, delivering the highest-ever PAT of Rs 1,430 crore, with exceptional performance across all our businesses. Our AMC crossed Rs 1.5 Lakh crore AUM, Private Wealth Management business delivered highest revenue ever, Housing Finance scaled Rs 5,000 crore AUM, and Capital Markets delivered their best-ever quarter driven by strong deal execution. These results reflect the depth of group’s expertise across capital markets (retail to institutional) and the enormous opportunity arising from India’s accelerating financialisation of savings.

I firmly believe this is a multi-decade growth story, and Motilal Oswal Financial Services is strategically positioned to be a long-term value creator. We are well-placed to scale further with a full-spectrum capital markets platform powered by in-depth research, strong client relationships & individualised advisory, and a robust balance sheet. We remain equally committed to investing in technology, enhancing client experience, and delivering consistent performance across market cycles.”

Result PDF

Capital Markets company Motilal Oswal Financial Services announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total income: Rs 1,20,855 lakh compared to Rs 2,17,193 lakh during Q4FY24.
  • Profut before tax: Rs -2,666 lakh compared to Rs 92,971 lakh durin Q4FY24.
  • Profut after tax: Rs -6,319 lakh compared to Rs 72,460 lakh durin Q4FY24.

FY25 Financial Highlights:

  • Consolidated operating revenue for FY25 grew by 31% YoY to Rs 5,161 crore.
  • Consolidated operating PAT for FY25 stood at Rs 2,016 crore is up 31% YoY.
  • Wealth Management business reported a PAT of Rs 783 crore for FY25, up 28% YoY.
  • Asset & Private Wealth Management business PAT for FY25 was Rs 824 crore, reflecting a 36% YoY growth.
  • Capital market business recorded a PAT of Rs 258 crore for FY25, up 31% YoY.
  • Housing finance business PAT for FY25 stood at Rs 127 crore (post minority).
  • Robust Net worth of Rs 11,079 crore as of March 31, 2025, up 27% YoY. ROE for FY25 stood at 25%.

Motilal Oswal, MD & CEO, Motilal Oswal Financial Services, said: “It gives me immense pleasure to share that FY25 continued our strong growth momentum. Our operating PAT crossed a major milestone of Rs 2,000 crore. All of our capital market businesses gained market share. Strong performance in the Asset & Private Wealth Management business with 36% YoY PAT growth, Capital Market business’s 31% PAT growth and Wealth Management business’s 28% PAT growth were key drivers of the group’s overall PAT growth of 31% on YoY basis to Rs 2,016 crore. We believe, India’s financialization theme has only just begun, and it has many years to go. Motilal Oswal Financial Services is well-positioned to provide a full suite of services & products in this segment to our clients. As the opportunity unfolds, we are confident of growing significantly larger. With our strong, profitable track record, we are very excited to be part of this multi-decadal journey.”

Result PDF

Capital Markets company Motilal Oswal Financial Services announced Q3FY25 results

  • Consolidated operating revenue for Q3FY25 grew by 43% to Rs 1,345 crore. and for 9MFY25 it grew by 41% to Rs 3,850 crore. Consolidated operating PAT for Q3FY25 at Rs 525 crore is up 38% YoY and is up 44% YoY for 9MFY25 at Rs 1,497 crore. Total PAT for Q3FY25 at Rs 456 crore & for 9MFY25 at Rs 2,718 crore grew by 36% YoY for each period.
  • Annual Recurring Revenue (ARR) as % of total revenue grew to 56% in Q3FY25.
  • Fee based revenue to total revenue increased from 30% to 41% on YoY basis.
  • Wealth Management business PAT for Q3FY25 at Rs 190 crore is up 16% YoY.
  • Asset & Private Wealth Management business PAT for Q3FY25 at Rs 234 crore is up 62% YoY. Segment’s contribution to total increased from 37% in Q3FY24 to 45% in Q3FY25.
  • Capital market business PAT for Q3FY25 at Rs.61 crore is up 50% YoY.
  • Housing finance business PAT stands at Rs.36 crore.
  • Robust Net worth of Rs 11,569 crore as of December 31, 2024, up 40% YoY. Our ROE stands at 36% for 9MFY25.

Motilal Oswal, MD & CEO said: “The momentum of strong performance continues. Our operating businesses of wealth management, capital market, asset & private wealth management have delivered strong growth in Q3FY25. Operating PAT for the quarter grew by 38% on YoY basis to Rs 525 crore. Strong performance in Asset & Private Wealth Management business led 63% YoY growth in Q3FY25 PAT to Rs 234 crore and the segment’s contribution to total PAT increased from 37% in Q3FY24 to 45% in Q3FY25. India’s financialisation theme has just started and it has many years to go. Motilal Oswal Financial Services is rightly positioned to provide all services & products within the segment to our clients. Based on strong operating profitability, board of directors have decided to distribute interim dividend of Rs 5 per share to our shareholders”

Result PDF

Capital Markets company Motilal Oswal Financial Services announced Q2FY25 results

  • Consolidated PAT including Other Comprehensive Income (OCI) for Q2FY25 at Rs 1,242 crore, up 123% YoY. We delivered RoE of 48%.
  • Consolidated operating net revenue for Q2FY25 Rs 1,366 crore, up 46% YoY
  • Consolidated operating PAT for Q2FY25 Rs 541 crore, up 53% YoY
  • Wealth Management business PAT for Q2FY25 al Rs 225 crore, up 71% YoY
  • Asset & Private Wealth Management business PAT for Q2FY25 at Rs 213 crore, up 63% YoY
  • Capital market business PAT for Q2FY25 at Rs73 crore, up 45% YoY
  • Housing finance business PAT of Rs 27 crore
  • Assets under Advice (AUA) crossed Rs 5.7 lakh crore mark, up 82% YoY.
  • Robust Net worth of Rs 11,070 crore as of Q2FY25 up 48% YoY
  • Crisil and India Rating has also upgraded our rating outlook from AA Stable to AA Positive during the quarter. ICRA upgraded in Q1.

Motilal Oswal, MD & CEO,Motilal Oswal Financial Services, said: "The tailwinds are strong in all of our capital market businesses. Our operating businesses of wealth management, capital market, asset & private wealth management have delivered strong growth in Q2FY25. Operating PAT for the quarter grew by 53% on YoY basis to Rs 541 crore and Consolidate PAT including Treasury PAT more than doubled at Rs 1,242 crore. We continue to believe that India's financialisation theme has just started and Motilal Oswal Financial Services provides an integrated capital market platform offering all products to our clients."

Result PDF

Capital Markets company Motilal Oswal Financial Services announced Q1FY25 results:

  • Consolidated PAT including Other Comprehensive Income (OCI) of Rs 1,021 crore, up 52% YoY and RoE of 44%.
  • Consolidated operating net revenue of Rs 1,133 crore, up 32% YoY
  • Consolidated operating PAT of Rs 431 crore, up 41% YoY
  • Assets under Advice (AUA) crossed Rs 5 lakh crore mark.
  • Wealth Management business PAT of Rs 177, up 69% YoY
  • Asset & Private Wealth Management business PAT of Rs 157 crore, up 30% YoY
  • Capital market business PAT ot Rs 57 crore
  • Housing finance business PAT of Rs 28 crore
  • Robust Net worth ot Rs 9,784 crore as of June 30, 2024 up 41% YoY
  • ICRA has upgraded the rating outlook from AA Stable to AA Positive

Speaking on the transition of Broking & Distribution to Wealth Management, Motilal Oswal, MD & CEO said, "Today's investors are more informed and seek personalized, holistic investment advice that considers long-term financial goals. They desire comprehensive wealth management strategies that encompass diverse asset classes, retirement planning, and tax optimization, moving beyond mere transactional services. Modern investors are driven by a sense of purpose, expecting meaningful engagement and purpose-driven advice from their financial advisors. As we transition from traditional services to Wealth Management services, our aim is to enhance client relationships and offer comprehensive financial solutions that align with their aspirations for wealth creation and preservation. The business is well geared to meet the varied client needs through our integrated wealth platform, bespoke research, a vast partner network of 8,800 external wealth managers, 2,000 internal advisors, large HNI client base, geographical footprint covering 98% of pincodes and open architecture for product distribution. We are well-positioned for this transformation. It is a strategic evolution that reflects our dedication to providing holistic, purpose-driven financial solutions, enabling us to better serve our clients and help them achieve their financial aspirations with confidence and clarity."

Result PDF

Capital Markets company Motilal Oswal Financial Services announced Q4FY24 & FY24 results:

Financial Highlights:

Consolidated PAT (Profit After Tax) including OCI (Other Comprehensive Income):

  • For FY24: Rs 2,626 crore; achieving the highest ever profits for the company.
  • For Q4FY24: Rs 625 crore.
  • Demonstrated a robust Consolidated Return on Equity (ROE) of 35%.

Consolidated Operating Revenue:

  • For FY24: Rs 5,075 crore, marking an increase of 33% YoY.
  • For Q4FY24: Rs 1,569 crore, witnessing a 60% increase YoY and a 29% increase QoQ.

Consolidated Operating PAT (Profit After Tax):

  • For Q4FY24: Rs 495 crore, up by 66% YoY and 30% QoQ.
  • For FY24: Rs 1,535 crore, up by 38% YoY.
  • Operating Return on Equity (ROE): 25%.

Capital Markets Business:

  • Q4FY24 PAT: Rs 251 crore, up 68% YoY and 23% QoQ.
  • FY24 PAT: Rs 803 crore, a 47% increase YoY.

Asset & Wealth Management Businesses:

  • Strong growth with PAT for Q4FY24 at Rs 210 crore, up 79% YoY and 46% QoQ.
  • PAT for FY24 at Rs 607 crore, marking a 34% growth YoY.

Housing Finance Business:

  • PAT for Q4FY24 at Rs 31 crore.
  • PAT for FY24 at Rs 129 crore.

Net Worth:

  • As of March 31, 2024, a robust net worth of Rs 8,732 crore, up 40% YoY.
  • Achieving a 10-year Net Worth Compound Annual Growth Rate (CAGR) of 22%.

Bonus Issue Declaration:

  • Announced 3 bonus shares for every 1 fully paid-up equity share.

Speaking on the performance of the company, Motilal Oswal, MD & CEO said, "38% growth in FY24 Operating PAT to 1,535 crore and Consolidated PAT of 2,626 crore is a testimony to the structural tailwinds in our core businesses of capital markets and asset & wealth management. Capital market business remains significantly underpenetrated with most exciting 5 years ahead of us. Our presence in 98% of pin codes & 6% cross-sell ratio provides us with a ready base and headroom to grow our distribution business. With 95% of MOAMC strategies outperforming the benchmark, turnaround in Gross & Net Sales, presence across MF & Alternates, focus on equities and launch of new products, AMC business should once again take the growth leadership for MOFSL. Huge investments in our Wealth management business, strengthening of leadership across regions & functions combined with the wealth effect under way should all come together to make this business our next growth engine. HFC business reported 0.4% Net NPA and focus is back on growth with sales team doubled in FY24 and set to doubled again in FY25, paving way for doubling of disbursements. Such synchronized tailwinds and growth runways across our businesses are drivers to our large investments in talent, brand building and infrastructure. The unique twin engine of highly growth-high RoE Operating businesses and 18 % XIRR on treasury management has resulted in a Consolidated RoC of 35%, fueling undiluted growth and healthy payouts since our listing in 2007."

 

Result PDF

Non-banking Financial company Motilal Oswal Financial Services announced Q1FY24 results:

  • Consolidated revenue stood at Rs 12.64 billion, up 32% YoY and 11% QoQ in Q1FY24.
  • Consolidated operating profit after tax (PAT) for Q1FY24 was Rs 2.40 billion, up 28% YoY and 3%QoQ in Q1FY24.
  • Highest ever quarterly Capital market business PAT of Rs 1.55 billion, up 63% YoY and 15% QoQ.
  • Asset & Wealth businesses PAT was Rs 641 million in Q1FY24, up 10% YoY.
  • Housing finance business PAT was Rs 286 million in Q1FY24.

Speaking on the performance of the company, Motilal Oswal, MD & CEO said, "We have delivered strong performance in Q1FY24. Our Capital market business has demonstrated remarkable performance, reporting an all-time high quarterly profit and strengthening our retail market position in Cash and F&O segments to 6.2% & 7.2% respectively. We continue to focus on our strategy to diversify our businesses towards linear sources of earnings. Our Asset and Wealth Management AUM has surpassed an impressive milestone by reaching Rs 1.25 lakh crore. Our Asset Management business has seen performance improvement and is likely to gain from process-driven investing and its niche offerings. The Wealth Management business is on its way to achieving scale as we have strengthened our leadership team and, continued investments in Relationship Managers. Additionally, we are pleased to share that our PE business is gearing up to launch its 6th Real Estate fund in the upcoming quarter, adding to our diverse investment products. Furthermore, the recent appointment of new senior management personnel has further bolstered our Housing finance business, enhancing its potential for growth and success. We firmly believe that each of our businesses possesses immense potential and is well-positioned to leverage the numerous opportunities present in the market. As we move forward, we shall continue to pursue our strategic objectives diligently, aiming for sustained growth and continued excellence across all our operations."

 

 

Result PDF

Motilal Oswal Financial Services announced Q4FY23 & FY23 results:

  • Consolidated Q4FY23:
    • Revenue stood at Rs 11.35 billion, up 5% YoY in Q4FY23
    • Operating profit after tax for Q4FY23 was Rs 2.33 billion, up 2% QoQ in Q4FY23
    • Capital market business PAT was Rs 1.35 billion in Q4FY23
    • Asset & Wealth businesses PAT was Rs 660 million in Q4FY23
    • Housing finance business profit was Rs 315 million in Q4FY23
  • FY23:
    • Revenue stood at Rs 43.19 billion, up 8% YoY in FY23
    • Operating profit after tax is at Rs 8.79 billion, up 6% YoY in FY23
    • Capital market business PAT was Rs 5.05 billion in FY23
    • Asset & Wealth businesses PAT was Rs 2.58 billion in FY23
    • Housing finance business profit was Rs 1.33 billion, up 44% YoY in FY23
    • Declared final dividend of Rs 3 per share; total dividend of Rs 10 per share for FY23

Speaking on the performance of the company, Motilal Oswal, MD & CEO said, “We have delivered sustainable performance in FY23 despite of market headwinds. Our retail broking business continued to consolidate its market position during FY23 by adding net 1,100 franchisces and improving its market share through digital initiatives and benefitting from market expansion and industry consolidation. We continue to focus on our strategy to diversify our businesses towards linear sources of earnings. Our Asset and Wealth Management AUM has crossed Rs 1 lakh crore milestone. Our Asset Management business has seen improvement in performance and is likely to gain from process-driven investing and its niche offerings. Our Wealth Management business is on its way to achieve scale as we have strengthened our leadership team and continued investments in Relationship Managers. Our PE business has successfully achieved fundraise of its largest-ever equity growth fund. Our Housing finance business has witnessed turnaround by improving disbursements and profitability parameters and is now geared up for sustainable growth.There is immense potential and opportunities in the market for each of our businesses to flourish.”

 

 

Result PDF

Motilal Oswal Financial Services announced Q3FY23 results:

  • Consolidated Q3FY23 & 9MFY23:
    • Revenue grew by 2% YoY / 5% QoQ at Rs 11.46 billion for Q3FY23 and 8% YoY to Rs 32 billion for 9MFY23.
    • Operating profit after tax for the quarter was Rs 2.17 billion and Rs 6.19 billion, up 12% YoY for 9MFY23.
    • Capital market business PAT was up 2% QoQ at Rs 1.36 billion; Asset & wealth businesses PAT stood at Rs 669 million. Housing finance business profit grew by 93% YoY / 9% QoQ to Rs 363 million.
    • Declared an interim dividend of Rs 7 per share.

Speaking on the performance of the company, Mr. Motilal Oswal, MD & CEO said "We have delivered sustainable performance in Q3F23 despite of market headwinds. Our retail broking business which is our cash cow business continued to improve its market share through digital initiatives and benefitting from market expansion and industry consolidation. We continue to focus on our strategy to diversify our businesses towards linear sources of earnings. Our Asset Management business has seen improvement in performance and is likely to gain from procest driven investing and its niche offerings. Our Wealth Management business is on its way to achieving scale as we have strengthened our leadership team and hired more RMs. Our P business has successfully delivered on fundraise of its largest-ever fund. Our Housing finance business has witnessed a turnaround by improving disbursements and profitability parameters and is now geared up for sustainable growth. There is immense potential and opportunities in the market for each of our businesses to flourish."

 

 

Result PDF

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