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Motilal Oswal Financial Services Q2 FY27 Share Price & Earnings Call Analysis

₹986.10+1.87% today
Market cap
₹59,460 Cr
P/E
30.03
ROE
15.53%
PEG
1.16
Price to sales
5.90
Debt to equity
1.65
52W high / low
₹1,081 / ₹628
Sales growth (5Y)
20.94%
EBITDA margin
40.94%
Net profit margin
19.87%
Promoter holding
67.20%
Sales (last year)
₹10,063 Cr

Motilal Oswal Financial Services Ltd. was founded in 1987 is a well-diversified financial services firm. The company has a network spread 550+ cities and towns comprising 2,500+ Business Locations operated by their Business Partners and 16,00,000+ customers. [1]

Guidance scorecard · Q2 FY27 call

What Motilal Oswal Financial Services Ltd's management guided
and where it ranks in Capital Markets

#3of 22 in
Capital Markets
Revenue20–40%MarginsFlatCapexWhat management saidFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • Private Wealth ARR revenues expected to grow steadily with an emphasis on advisory solutions and leverage offerings for family offices.
  • Distribution book in Wealth Management anticipated to grow meaningfully, tapping cross-sell potential from low existing franchise cross-sell ratio (18%).
  • Lending book in Private Wealth (LAS & MTF) has significant headroom to grow over 2-3 years, supporting NII growth.
  • AMC business to see growth driven by vintage products crossing 3-year milestone, new fund launches (including passive and active schemes), and increased distributor traction.
  • Alternate Asset Management expected to rise due to larger fund sizes, entry into newer categories (private credit, commercial real estate), and increasing carry income recognition.
  • Capital Markets investment banking has a strong mandate pipeline, enabling reasonable YoY revenue growth if deal windows open.

2 more points from Motilal Oswal Financial Services Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Motilal Oswal Financial Services Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

  • Continued investment in talent, distribution reach, and marketing, particularly in Asset and Private Wealth Management businesses.
  • Ongoing team additions in AMC with launches of new funds and strengthening of fund manager and research teams on active and passive sides.
  • Focus on expanding the private wealth segment and growing loan and distribution books.

2 more points from Motilal Oswal Financial Services Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

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Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The Investment Banking (IB) business has a strong signed mandate pipeline.
  • The pipeline is substantial enough to support reasonable year-on-year revenue growth.
  • Execution of deals is contingent on market conditions; growth depends on market windows.
  • Investment Banking has completed 11 deals raising over ₹10,000 crores in the quarter.

2 more points from Motilal Oswal Financial Services Ltd's call on the order book

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Full Q1 FY27 analysis
Full Capital Markets ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Capital Markets
on management's own guidance

  1. Nippon Life Ind.Good growth
    2
  2. BSEGood growth
    1
  3. This stockMotil.Oswal.Fin.Good growth
    3
See all potential multibaggersAll Capital Markets rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Capital Markets companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1BSE20–40%Flat₹1.37L Cr48.4
2Nippon Life Ind.20–40%Flat₹68,184 Cr41.6
3Motil.Oswal.Fin.This stock20–40%Flat₹63,771 Cr32.2
420–40%Flat₹31,481 Cr29.1
520–40%Flat₹15,334 Cr43.8
620–40%Flat₹12,638 Cr51.6

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Motilal Oswal Financial Services Ltd announcements

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Financials of Motilal Oswal Financial Services Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Motilal Oswal Financial Services Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +69.39%69.16%69.04%68.86%68.71%68.45%67.80%67.69%67.62%67.54%67.20%66.70%
FIIs +6.48%6.73%6.46%6.34%5.88%6.01%7.29%7.52%6.93%7.03%6.86%6.71%
DIIs +6.76%6.94%6.06%6.41%6.39%5.71%5.44%5.84%6.42%6.02%6.78%7.27%
Public +17.36%17.16%18.42%18.39%19.01%19.83%19.46%18.96%19.02%19.40%19.15%19.29%
No. of Shareholders61,73267,2311,35,9841,63,5512,26,7542,87,3312,60,2862,41,2972,38,4882,41,9612,25,3182,11,800

Financials of Motilal Oswal Financial Services Ltd

Quarterly Results

Quarter-by-quarter operating performance

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +1,5021,6551,7912,1542,3142,8411,9931,1902,7371,8492,1122,6763,426
Expenses +6647407039169261,0259329101,0181,0091,0062,4711,456
Operating Profit8379151,0891,2381,3881,8161,0612801,7208401,1052051,970
OPM %56%55%61%57%60%64%53%24%63%45%52%8%57%
Other Income +321618191526187118166
Interest216241262302327354319298295317336388414
Depreciation17172424222327262628292828
Profit before tax6366588099301,0591,454741-271,406506748-1941,534
Tax %17%19%18%22%17%23%24%137%18%28%24%13%17%
Net Profit +5285326617258841,122566-631,163363566-2191,274
EPS in Rs8.908.9611.1112.1314.7718.719.42-1.0819.386.049.42-3.6821.14

Financials of Motilal Oswal Financial Services Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +7721,0801,9232,7512,4502,3583,6264,2984,1787,0698,3409,38110,063
Expenses +5166479151,3571,5431,5461,6102,1782,3013,0023,7945,5045,943
Operating Profit2564321,0081,3949078122,0162,1201,8774,0674,5463,8774,120
OPM %33%40%52%51%37%34%56%49%45%58%55%41%41%
Other Income +11-271128-80221961784242
Interest311744425285174944304785961,0141,2981,3361,456
Depreciation3135333724404848588399111112
Profit before tax1962255068293782851,4581,6161,2423,0323,2262,4722,593
Tax %27%27%28%25%25%24%18%19%25%19%22%24%
Net Profit +1451723716322981901,2651,3129352,4462,5081,8721,983
EPS in Rs2.562.976.2310.725.043.1021.4921.9715.7440.9641.7431.0632.92
Dividend Payout %29%29%22%20%42%32%12%11%16%9%12%19%

Financials of Motilal Oswal Financial Services Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital141414151515151515156060
Reserves1,2811,4221,7722,8713,0393,0714,4475,6596,2378,71711,01912,828
Borrowings +7952,5895,0675,3235,1584,6275,6936,15210,27813,78714,73221,255
Other Liabilities +8551,0641,5862,2022,1492,3703,8875,0336,4199,2528,1069,258
Total Liabilities2,9455,0908,43910,41110,36010,08414,04116,86022,94931,77133,91643,401
Fixed Assets +300292294300302333350357466603754769
CWIP0000000000115115
Investments8141,2311,7672,8072,6863,0883,9224,6854,7876,5018,85110,299
Other Assets +1,8313,5666,3787,3047,3726,6629,76911,81817,69624,66724,19732,218
Total Assets2,9455,0908,43910,41110,36010,08414,04116,86022,94931,77133,91643,401

Financials of Motilal Oswal Financial Services Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-98-1,242-1,980248195952-1391,011-3,058-3501,215-6,071
Cash from Investing Activity +-606-380-314-15714-353-273-447-274-247-1,077-958
Cash from Financing Activity +7471,7182,420-98-141-1298612823,7703,3067456,154
Net Cash Flow4496125-7684704498454392,709882-875
Free Cash Flow-124-1,277-2,032207168882-199956-3,212-495930-6,160
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-25%-274%-183%31%41%137%0%58%-148%2%39%-139%

Financials of Motilal Oswal Financial Services Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days27924023913822611592859099105158
Inventory Days0
Days Payable
Cash Conversion Cycle27924023913822611592859099105158
Working Capital Days-76-278-209-241-103-189-206-279-402-329-191-147
ROCE %14%13%18%18%11%10%22%19%13%21%19%13%

Guidance history

How Motilal Oswal Financial Services Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%Flat—Planned—
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →20–40%FlatPlannedPlanned—
Q2 FY26 call →20–40%FlatPlannedNone planned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

71out of 100

Momentum score · price trend

71 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−2.2%58%
Last 6 months+23.2%76%
Last 3 months+17.8%86%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Motilal Oswal Financial Services Ltd: 0.4 × 58 + 0.4 × 76 + 0.2 × 86 = 71.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Motilal Oswal Financial Services Ltd's management said in earlier quarters

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