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Motilal Oswal Financial Services Ltd (MOFSL) is an India-based integrated technology-based financial services company registered as a non-banking financial company. It offers a diverse range of financial products and services including institutional equities, asset management, housing finance, currency broking, private equity, private wealth management, commodity broking, investment banking, loan against securities, retail broking, and distribution. The company serves retail customers, high net worth individuals, mutual funds, foreign institutional investors, financial institutions, and corporate clients. MOFSL operates through various segments including Wealth Management, Capital Markets, Asset and Private Wealth Management, Home Finance, and Treasury Investments. The company provides broking services, research and advisory services, financial product distribution, depository services, investment banking, and margin trading funding. It also offers fee-based asset management services and affordable housing finance.
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The Quarter story
The two most recent quarterly results, compared side-by-side.
Motilal Oswal shifts toward a stable recurring revenue model and expands its housing finance book, while managing higher leverage and softer trading income.
Housing Finance AUM grows from ₹5,027 Cr in Q1 FY26 to ₹6,164 Cr in Q1 FY27, expanding the mortgage portfolio.
Consolidated borrowings rise from ₹15,675 Cr in Q1 FY26 to ₹21,794 Cr in Q1 FY27, increasing balance sheet leverage.
Management Fees & Advisory revenue rises from ₹327 Cr in Q1 FY26 to ₹472 Cr in Q1 FY27, reflecting stronger wealth management demand.
Distribution revenue falls from ₹305 Cr in Q1 FY26 to ₹64 Cr in Q1 FY27, pointing to weaker product sales channels.
Annual Recurring Revenue mix increases from 52% in Q1 FY26 to 66% in Q1 FY27, building a more predictable income base.
Brokerage revenue drops from ₹359 Cr in Q1 FY26 to ₹205 Cr in Q1 FY27, indicating lower trading volumes.
Total clients expand from 13.6 Mn in Q1 FY26 to 15.8 Mn in Q1 FY27, widening the customer foundation.
Operating PAT declines from ₹1,430 Cr in Q1 FY26 to ₹609 Cr in Q1 FY27, showing compressed core earnings.
Capital Market research coverage grows from 320 companies in Q1 FY26 to 384 in Q1 FY27, strengthening institutional outreach.
Net Interest Income eases from ₹398 Cr in Q1 FY26 to ₹264 Cr in Q1 FY27, reflecting tighter lending margins.