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Motilal Oswal Financial Services Ltd (MOTILALOFS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532892 NSE: MOTILALOFS Finance - Stock Broking | Mid Cap | Motilal Oswal Fin Share Price

₹854.95 -6.10 (-0.71%)

As on 05-Jun'26 16:59

Motilal Oswal Financial Services Ltd (MOTILALOFS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532892 NSE: MOTILALOFS Finance - Stock Broking | Mid Cap | Motilal Oswal Fin Share Price

₹854.95 -6.10 (-0.71%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹51,839 Cr.
Current Price
₹855
52-Week Low / High
₹616 / 1,097
TTM EPS
₹15.3
TTM Sales
₹4,721 Cr.
Book Value per Share
₹132.1
P/E Ratio
56.19
Higher than its 5-year historical median
Industry PE
48.3
Price to Book (P/B)
6.52
Higher than its 5-year historical median
Price to Sales (P/S)
10.98
Higher than its 5-year historical median
EV/EBITDA
20.18
Higher than its 5-year historical median
Dividend Yield
0.81%
Profitability Efficiency
Return on Equity (ROE)
21.70%
In line with industry median
Return on Capital Employed (ROCE)
17.84%
In line with industry median
Return on Assets (ROA)
6.09%
Operating Profit Margin
46.7%
Net Profit Margin
25.96%
Gross Profit Margin
33.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
17.46%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
11.32%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.65%
Asset Quality
Promoter Holding
67.54%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹7,890 Cr.
Equity
₹60.2 Cr.
Face Value
₹1
All Time Low / High
₹10.90 / 1097.00

Motilal Oswal Financial Services stock performance

Key Ratios
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Quality

Very Good
Check detailed performance

Valuation

Fair

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Price Trend

Strong
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Q.1 Is Motilal Oswal Financial Services Ltd a good quality company?
Motilal Oswal Financial Services Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Motilal Oswal Financial Services Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Motilal Oswal Financial Services Ltd vs industry peers?
Motilal Oswal Financial Services Ltd revenue CAGR is 36.99%, compared to the industry median CAGR of 22.84%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Motilal Oswal Financial Services Ltd?
Promoters hold 67.54% of the Motilal Oswal Financial Services Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Motilal Oswal Financial Services Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 27.2% based on the current price.
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DeciZen - make an informed investing decision on Motilal Oswal Fin

Decision Maker
Standalone basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

Right Price
Price Chart

3. Right Time ⓘ

Right Price
#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Motilal Oswal Financial Services Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ8.3%8.7%25.1%13%7.9%20.3%17%12.9%21.7%17.8%-
Value Creation
Index ⓘ		-0.4-0.40.90.0-0.40.50.30.00.90.6-

Growth Parameters ⓘ
Sales ⓘ1101321,3551,2821,1112,1982,5792,6664,5635,3594,721
Sales YoY Gr.-19.6%928.6%-5.4%-13.3%97.9%17.3%3.4%71.1%17.5%-
Adj EPS ⓘ0.81.56.95.63.312.811.99.62523.215.3
YoY Gr.-84.2%355.6%-19.3%-40.2%285.5%-7.4%-18.8%160%-7.2%-
BVPS (₹) ⓘ10.411.640.643.94660.870.173.897.8116.7132.1
Adj Net
Profit ⓘ		46.887.53993241977517075691,4901,391922
Cash Flow from Ops. ⓘ286-48.7487306784-660879-1,332-498607-
Debt/CF from Ops. ⓘ1.4-9.42.64.61.8-3.22.5-2.8-13.514.4-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ54%37%27.6%17.5%
Adj EPS ⓘ45%47.6%25.1%-7.2%
BVPSⓘ30.8%20.5%18.5%19.4%
Share Price 26% 34.2% 72.9% -1.8%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		813.926.413.27.523.918.313.329.221.712.3
Op. Profit
Mgn % ⓘ		81.596.746.642.928.550.239.836.249.346.741.9
Net Profit
Mgn % ⓘ		42.466.429.425.317.734.227.421.332.72619.5
Debt to
Equity ⓘ		0.70.70.50.60.50.60.50.91.21.30
Working Cap
Days ⓘ		1,6079821552903742352452281682291,163
Cash Conv.
Cycle ⓘ		00-171-322-429-708-726-700-656-629337

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Income + 1111331,3591,3131,1482,2252,6172,6934,6455,484
Interest Income1101321,3551,2821,1112,1982,5792,6664,5635,359
Other Income ⓘ 613090374046468990
Exceptional Items ⓘ 114313727382782125
Expenditure ⓘ + 58178539209541,2601,7531,9672,8533,756
Interest Expense ⓘ 30593104129128162217466812
Operating Expenses ⓘ 23117307257881,0921,5451,7042,2982,854
Provisions 613090374046468990
Exceptional Items ⓘ 0-28000-880000
Profit Before Tax ⓘ 53885063941948768647251,7921,728
Taxes ⓘ 7010770-3126157156302337
Profit After Tax 47873993241977517075691,4901,391
Adjusted EPS (₹)0.81.56.95.63.312.811.99.625.023.2
Dividend Payout Ratio (%)106.50%41.30%30.90%38.30%30.10%19.50%21.10%26%14%21.50%

Valuation of Motilal Oswal Fin - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Equity Capital +5936692,3812,5942,7643,6164,2424,4545,9167,117
Share Capital ⓘ 14141515151515151560
Reserves ⓘ 5796552,3672,5792,7493,6024,2274,4395,9017,057
Short term borrowings2482581,0601,2201,2801,7791,7933,6916,7327,476
Long Term Borrowings1871143343055468631,1069201951,634
Current Liabilities 3183762,3882,8083,2165,0746,0519,27015,51015,322
Trade Payables009761,1461,5672,7983,4463,1665,1864,952
Other Liabilities-248-258-1,862-2,366-2,846-4,577-5,239-6,858-11,917-12,428
Total Liabilities ⓘ 1,0991,1595,2775,7066,5269,55411,39914,64321,62124,073

Assets

Non Current Asset +7187323,1963,2603,5695,0135,9336,6119,64411,381
Loan Asset 006255242007738851,3283,4874,079
Other Non Current Asset ⓘ 7187322,5712,7373,3694,2405,0485,2836,1587,302
Current Asset +3814272,0812,4462,9584,5415,4668,03211,97612,692
Current Investment0808626521,109535265000
Other Current Asset3813471,2191,7941,8494,0065,2018,03211,97612,692
Total Assets ⓘ 1,0991,1595,2775,7066,5269,55411,39914,64321,62124,073

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ 286-49487306784-660879-1,332-498607
Cash Flow From Investing Activity ⓘ -90-106-289-100-295111-35730-487-334
Cash Flow From Financing Activity ⓘ -9049-181-132-70443-531,2123,2022,213
Net Cash Flow ⓘ 106-1061775419-106469-902,2162,486

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Operational & Financial Ratios
EPS (₹)3.306.1027.5022.2013.3051.2047.4038.5010023.20
DPS (₹)3.502.508.508.504101010145
BVPS (₹)41.746.3162.2175.7184.1243.3280.3295.2391.2116.7

Performance Ratios

ROA (%)4.27.812.45.93.29.36.84.48.26.1
ROE (%)8.013.926.413.27.523.918.313.329.221.7
ROCE (%)8.38.725.113.07.920.317.012.921.717.8

Valuation Parameters

Price/Book(x)6.515.76.23.42.72.63.12.14.35.3

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Motilal Oswal Financial Services Ltd FAQs

The current trading price of Motilal Oswal Fin on 05-Jun-2026 16:59 is ₹855.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Motilal Oswal Fin stood at ₹51,839.1 Cr

The latest P/E ratio of Motilal Oswal Fin as of 04-Jun-2026 is 56.19.

The latest P/B ratio of Motilal Oswal Fin as of 04-Jun-2026 is 6.52.

The 52-week high of Motilal Oswal Fin is ₹1,097 and the 52-week low is ₹616.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Motilal Oswal Fin is ₹4,721 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Motilal Oswal Financial Services Ltd is a good quality company.

The key valuation ratios of Motilal Oswal Financial Services Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Motilal Oswal Financial Services Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Motilal Oswal Financial Services Ltd

Motilal Oswal Financial Services (MOFSL) is a public limited company and incorporated under the provisions of Companies Act. The company is registered with Securities and Exchange Board of India (SEBI) under the Stock brokers and sub brokers Regulations, 1992 and is a member of Bombay Stock Exchange, National Stock Exchange of India, Multi Commodity Exchange of India and National Commodity and Derivatives Exchange. 

The company acts as a stock broker and commodities broker to execute proprietary trades and also trades on behalf of its clients which include retail customers (including high net worth individuals), mutual funds, foreign institutional investors, financial institutions and corporate clients. It is registered with Central Depository Services (India) and National Securities Depository in the capacity of Depository Participant and also registered with SEBI in capacity of Research Analyst and Investment Advisor.

Business area of the company

Motilal Oswal Financial Services is an integrated technology-based Financial Services Sector Organization offering a wide range of services including retail & institutional broking, margin trading funding, research & investment recommendations, depository operations, distribution of financial products and investor education. MOFSL execute transactions in capital markets /equity derivatives /commodity derivatives /currency derivatives segments on behalf of its clients which include retail customers (including high net worth individuals), mutual funds, institutional investors, foreign institutional investors, financial institutions and corporate clients. It also offers a bouquet of financial products and services like insurance, mutual funds, bonds etc. to its client base. 

Business Segments:

MOFSL operates in business segments like:

  • Wealth Management (Broking, Distribution and Lending for retail clients).
  • Assets Management business.
  • Private Wealth Management business for HNI / UHNIs clients.
  • Capital Markets business includes Institutional Equities and Investment Banking business.
  • Affordable Housing Finance.

In each of the businesses, MOFSL offers a unique value proposition to its customers, creates its niche in each of the business segments and commands a premium position over peers. MOFSL carries its lending business by running a loan-against-shares book under ‘Motilal Oswal Finvest’ and retail mortgage-backed lending in the affordable housing segment under ‘Motilal Oswal Home Finance’. 

Awards

  • 2007: Motilal Oswal is rated ‘Best Overall Country Research’ for a Local Brokerage in the 2007 AsiaMoney Brokers poll.  
  • 2007: It was rated India’s top broking house in terms of total number of trading terminals by the Dun & Bradstreet survey.
  • 2007: The company was ranked second best for Customer Responsiveness in the Financial Sector at the Avaya Global Connect Customer Responsiveness awards.
  • 2008: Awarded 'Best Franchisor in Financial Services' by Franchising World Magazine for the second consecutive time. 
  • 2008: Awarded the 'Excellent Business Achiever in Financial Services' award by the Institute of Chartered Accountants of India. 
  • 2011: Motilal Oswal Financial Services Ltd. was honoured with Best Capital Markets & Related NBFC Award for FY11 at the CNBC TV18 India Best Banks and Financial Institutions Awards, 2011 held in Mumbai.
  • 2012: Motilal Oswal Financial Services won the RETAILER OF THE YEAR (Banking & Financial Services) award at the Awards for Retail Excellence 2012 organised by Asia Retail Congress on Feb 14, 2012.
  • 2012: Motilal Oswal Financial Services was honoured with ‘Best Employer Brand’ Award at the IPE Banking, Financial Services & Insurance Awards 2012 held in Mumbai on 30th June 2012.
  • 2012: Motilal Oswal Financial Services was awarded the Best Use of Public Relations in the Financial Services Sector Award at the India PR & Corporate Communication Awards 2012 held in New Delhi on March 22, 2012. Organized by Exchange4media, these are the biggest awards of its kind in India.
  • 2013: Motilal Oswal Group has exposure on National Spot Exchange Ltd (NSEL) of Rs 253.92 crore.
  • 2013: Company's Subsidiary, Motilal Oswal Securities bagged the Best Performing Equity Broker (National) Award at CNBC TV18 Financial Advisor Awards 2013 held in Mumbai.
  • 2014: Company's Subsidiary, Motilal Oswal Securities has been awarded the ‘Best Performing National Financial Advisor
  • 2014: Equity Broker’ at the UTI-CNBC TV18 Financial Advisor Awards for the fourth year in a row
  • 2014: The Subsidiary of the Company, Motilal Oswal Securities wins the 'Best Research as Research Showcase Partner' at RESEARCHBYTES IC AWARDS 2014.
  • 2014: The Subsidiary of the Company, Motilal Oswal Securities Ltd wins 'Best Local Brokerage for Trading and Execution' at Trade Asia Magazine Awards held on 13th November 2014 at Hongkong
  • 2015: The website of Motilal Oswal Financial Services Ltd (MOFSL) has changed from motilaloswal.com to motilaloswalgroup.com.
  • 2016: Motilal Oswal Financial Services Limited was certified as a Great Place to Work by GPTW - India. Fortune India honoured Motilal Oswal Financial Services Private Limited as ‘One of The Giants of Tomorrow’ at Fortune India the Next 500, 2016. 
  • 2017: Consistently won high ranks in prestigious award forums like Asiamoney
  • 2018: No.1 ranking in events, conference and roadshows in Asia Money 2018 ranking
  • 2018: No. 3 in three research categories, sales trading and overall sales in Asia Money 2018 ranking
  • 2019: MOFSL gets inducted in the HALL OF FAME at the 10 Financial Advisor Awards
  • 2019: Ranked No. 1 in Overall Sales, Sales Trading & Corporate Access and No. 2 in Best Local Brokerage awards category at Asia Money Brokers Poll 2019
  • 2019: Motilal Oswal Group won the ‘Best Data Analytics of the Year” award at the India NBFC Excellence Awards 2019. 
  • 2019: Motilal Oswal Financial Services Limited was honoured with the Best Use of ’CRM in Financial Services’ award at the CRM World Summit and Awards 2019. 
  • 2020: Motilal Oswal Wealth Management won Best Boutique Wealth Manager - India by Asset Triple A for three consecutive years.
  • 2021: Motilal Oswal Real Estate was honoured as ‘Fund Raiser of the Year — PE’ at the VC Circle Awards for the India Realty Excellence Fund IV.
  • 2022: Motilal Oswal Private Wealth Management received prestigious ‘Best Digital Private Bank’ in India at the Asiamoney Private Banking Awards. 
  • 2022: The Company's Private Wealth business was recognised as ‘Outstanding Private Bank for Growth Strategy – Highly Commended’ at the Private Banker International Global Wealth Awards.
  • 2024: Founders Motilal Oswal and Raamdeo Agarawal were honoured as the ‘Most Respected Financial Services Entrepreneurs’ of the Year 2023 by Hurun India.

Milestones

  • 1987: Commenced business as a sub-broking outfit by the name of Prudential Portfolio Services.
  • 1990-95: Commenced the business of Retail & Institutional Equities addressing the needs of larger clients.
  • 1996: Initiated a wealth creation study aimed at identifying companies with the highest, quickest, and most consistent wealth creation track record.
  • 2000: Demerged Motilal Oswal Securities Limited and Passionate Investment Management Limited.
  • 2006: Mobilised capital through Private Equity. 
  • 2006: Entered the businesses of Investment Banking, Private Equity, and Wealth Management.
  • 2007: Floated an IPO of Rs 333 crore that was oversubscribed 26.4 times.
  • 2008: MOFSL's Depository Participant (DP) assets crossed Rs 5,000 crore. 
  • 2008: The Group's profits crossed Rs 100 crore; revenues exceeded Rs 500 crore.
  • 2009: Reach widened to over 1,000 locations; customer base surpassed 5,00,000.
  • 2009: The Company entered the Limca Book of Records for creating India's largest dealing room.
  • 2010: MOAMC launched its maiden Mutual Fund offering.
  • 2011: MOAMC became India's first asset management company to ring the NASDAQ stock market opening bell. 
  • 2014: Entered the Affordable Housing Finance business and started building treasury investments.
  • 2015: Motilal Oswal Capital Markets Private Limited launched School for Trading & Investment Research to educate aspiring investors and traders on investing, trading, and research principles.
  • 2016: Motilal Oswal introduced India’s first and fastest 100% paperless trading and demat account, promising completion process in just 15 minutes.
  • 2018: Motilal Oswal Financial Services Limited was listed in Fortune 500 India's Largest Corporations. 
  • 2019: Motilal Oswal introduced unique funds - Nifty 500, Nifty Bank Index, Nifty Midcap 150, and Nifty Smallcap 250.
  • 2020: Institutional Equities hosted 16th Global Investor Conference with 150+ corporates and 80% CXO participation. 
  • 2020: MOAMC held the inaugural Digital Global Partner Summit with 10+ tracks and 12,000+ attendees.
  • 2020: MOAMC pioneered India's first Digital First NFO for S&P 500 Index Fund during the pandemic.
  • 2021: Motilal Oswal's Private Wealth Management launched the 100th edition of the Alpha Strategist Report.
  • 2024: Recorded the highest revenue of Rs 7,178 crore and Profit After Tax (including OCI) of Rs 2,626 Crore in FY 2023-24. 
  • 2024: Assets under advice crossed Rs 4 trillion. 
  • 2025: Recorded the highest ever Operating PAT of Rs 2,016 crore.
  • 2025: Total client base crossed 12 million.
  • 2025: AUA crossed Rs 5 trillion mark.

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