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Motilal Oswal Financial Services
SectorFinancial Services
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.
In the news
Telecom AGR grows 9.19% to ₹88,796 crore, Jio leads with 44.62% share
Motilal Oswal shifts 400 bps to mid/small caps on Q2 earnings
India-Ecuador crude oil deal boosts supply security amid earnings optimism
Motilal Oswal picks 40 stocks with upside to 165% amid strong Q2 earnings
Motilal Oswal retains Buy on hotel stocks with up to 34% upside
Macquarie upgrades 11 financial stocks with 22% upside potential
Auto stocks crash 4% as M&M, Bajaj Auto tank on weak sales
LIC Housing Finance, IREDA, M&M, Swiggy: Short-term trading picks
MOFSL maintains 'Buy' on Aster DM with ₹910 target amid 24% YTD gains
Motilal Oswal: Two-thirds of Nifty stocks trade below historical valuations
Motilal Oswal's Taparia Recommends 2 Stocks After Market Crash
Motilal Oswal Gets SEBI Custodian Licence for Institutional Services
India outpaces China in steel growth: Tata Steel, JSW Steel lead surge
Motilal Oswal Financial Services Upgraded to 'IND AA+' Rating
Motilal Oswal names 4 top banking picks amid credit growth surge
Motilal Oswal approves ₹200 cr NCD issue via private placement
Choice Broking's 3 Stock Picks: ACME Solar, Balaji Amines, IOLCP
Motilal Oswal AMC avoids banks, IT stocks for high-growth themes
Banks face ₹13 lakh crore deployment challenge as FCNR mobilisation hits $136.38B
Motilal Oswal's 6 Capital Goods Picks: L&T, Cummins, GE Vernova
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.
Company insights, generated from the most recent coverage.
Down ~2% on Sep 28 alongside Nuvama's -3.9%, confirming the weakness is sector-wide capital markets selling rather than a Motilal Oswal-specific event.
MTF book grew 54% YoY at healthy yields — leverage-fuelled market participation is adding high-margin interest income, but it also raises exposure to a sharp market correction.
Management flagged regulatory headwinds in wealth management and a one-time Q4 FY26 ESOP reversal that won't repeat — expect cost normalization to pressure near-term margins even if revenue holds up.