Motilal Oswal Financial Services share price
NSE: MOTILALOFSBSE: 532892Capital MarketsMid Cap
Share price at the NSE close on 29 Oct 2026. Previous close ₹968.00.
29 Oct: open ₹976.40, high ₹1,002.15, low ₹972.85
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹59,460 Cr199th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 22.03
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 3.83
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.61%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 19.0%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 11.8%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 1.72
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 9,64,28232.1% delivered
About Motilal Oswal Financial Services
Motilal Oswal Financial Services Limited is a Mumbai-based financial services group.1 It offers broking, distribution of investment products and loans, manages mutual funds and alternative funds, advises wealthy clients, runs institutional equities and investment banking, and lends to low and middle-income home buyers.234 Its clients range from individual investors to companies, mutual funds and foreign institutions, served from offices across India and in Dubai, Singapore, Hong Kong and Mauritius.56
Its main subsidiaries are Motilal Oswal Asset Management Company, Motilal Oswal Finvest and Motilal Oswal Home Finance, among 21 subsidiaries in all.78 Retail clients are reached mainly through a franchise network of 7,610 external wealth managers covering more than 95% of India's PIN codes, alongside more than 1,070 of its own relationship managers and 78 branches.910 The group served more than 15.8 million clients at the end of June 2026.11
The group grew out of an equity broking business set up in 1987; the company was incorporated in 2005 and listed through an IPO (its first share sale to the public) in 2007, and says it has raised no outside equity since.121314 Its asset management company launched its first mutual fund in 2010, and the group entered affordable housing finance in 2014.15
The founders, Motilal Oswal, managing director and chief executive, and Raamdeo Agarawal, non-executive chairman, lead the promoter group; with their families they held 67.12% of the shares at the end of March 2026.161718
Motilal Oswal Financial Services key points
Results
- Consolidated net revenue (after commission and interest costs) was ₹1,538 crore in the quarter to Jun 2026, against ₹1,430 crore a year earlier; operating profit after tax, excluding treasury investments, was ₹609 crore against ₹534 crore.1920
- The group's total profit after tax including other comprehensive income (gains booked outside the profit and loss account) was ₹1,513 crore, ₹904 crore of it from treasury investments; the company says this is a quarterly high.2122
- In the year to Mar 2026, total income was ₹9,416.42 crore against ₹8,417.22 crore, and profit before tax fell to ₹2,465.04 crore from ₹3,226.27 crore.23
- Operating profit after tax, as the company presents it, for the year to Mar 2026 was ₹2,360 crore, up 16%.24
Market position
- The company describes itself as the largest integrated capital market player by net worth among non-bank peers in the year to Mar 2026.25
- The company says it is the largest non-bank full-service broker by gross brokerage revenue, with a 7.6% share of cash, futures and options and commodities turnover in the quarter to Jun 2026.26
- Its investment bank ranked second for IPOs and qualified institutional placements (share sales to institutions) in the quarter to Jun 2026, after ranking first for placements in the year to Mar 2026.2728
Business segments
- Operating profit after tax by segment2930Asset and private wealth management made up about 55% of operating profit after tax.
Item quarter to Jun 2026 quarter to Jun 2025 Asset and private wealth management ₹335 crore ₹230 crore Wealth management ₹161 crore ₹173 crore Capital markets ₹76 crore ₹101 crore Housing finance ₹32 crore ₹24 crore - Asset management. Runs mutual funds and private equity, real estate and private credit funds; assets under management rose 31% to ₹2.12 lakh crore at the end of June 2026, and profit after tax 73% to ₹245 crore.3132
- Private wealth management. Advises wealthy individuals, companies and institutions; client assets rose 37% to ₹2.4 lakh crore at the end of June 2026, with net inflows of ₹3,929 crore in the quarter.3334
- Wealth management. Broking, distribution and lending for retail clients; at the end of June 2026 its distribution book was ₹45,575 crore, up 29%, and its loan book ₹7,388 crore, up 33%.3536
Revenue mix
- Group recurring revenue (income that repeats, such as fees and interest) was 66% of net revenue in the quarter to Jun 2026, against about 60% in the year to Mar 2026.3738
- Management and advisory fees were 30% of net revenue in the quarter to Jun 2026, against 26% in the year to Mar 2026; fee-based revenue as a whole was about 41%.39
Loan book and deposits
- Motilal Oswal Home Finance had home loans under management of ₹6,164 crore at the end of June 2026, up 23%, and disbursed ₹646 crore in the quarter, up 64%.40
- Motilal Oswal Home Finance's gross non-performing assets (loans that have stopped being repaid) were 1.1% of loans at the end of June 2026, and 0.6% net of provisions.41
- The group's margin trade funding book (loans to clients to buy shares) was ₹7,800 crore at the end of June 2026, up 55%.42
Treasury investments
- The group invests surplus profit in a treasury book worth ₹10,482 crore at the end of June 2026, up 22%; more than ₹7,700 crore is invested as sponsor in its own funds and products.434445
- The company says the book has earned a 17% annualised return (XIRR, allowing for when money was added) since it began.46
What the company expects
- On its earnings call of 24 Jul 2026, the company said it expects borrowing costs to fall by 15 to 20 basis points (hundredths of a percentage point) over the next 12 to 18 months.47
- On its earnings call of 24 Jul 2026, the company said it expects before-tax profit margins to stay at their usual 50% to 52% in the year to Mar 2027.48
- In its presentation of 23 Jul 2026, the company said its first private credit fund had raised ₹2,435 crore at its second close and was targeting ₹3,000 crore in all.49
Recent events
- On 23 Sep 2026, SEBI licensed subsidiary Motilal Oswal Custodial Services as a custodian (a firm that holds securities for institutions); the company said it plans to start operations in the last quarter of 2026.5051
- On 15 Sep 2026, India Ratings upgraded the long-term credit rating of the company and subsidiaries to IND AA+/Stable; the company said it is rated AA+ by all 3 main Indian rating agencies.5253
- On 22 Jul 2026, CRISIL upgraded the company's long-term credit rating to Crisil AA+/Stable from Crisil AA/Positive.54
- On 4 Jun 2026, Motilal Oswal Asset Management Company incorporated a subsidiary, Motilal Oswal Pension Fund Management, to manage pension schemes.555657
Last updated
All 57 sources, each with its page
- 1. Annual report, 29 Jun 2026, page 240
- 2. Annual report, 29 Jun 2026, page 6
- 3. Annual report, 29 Jun 2026, page 55
- 4. Annual report, 29 Jun 2026, page 61
- 5. Annual report, 29 Jun 2026, page 6
- 6. Annual report, 29 Jun 2026, page 136
- 7. Annual report, 29 Jun 2026, page 120
- 8. Annual report, 29 Jun 2026, page 71
- 9. Annual report, 29 Jun 2026, page 59
- 10. Investor presentation, 23 Jul 2026, page 35
- 11. Investor presentation, 23 Jul 2026, page 14
- 12. Exchange filing, 15 Sep 2026, page 4
- 13. Annual report, 29 Jun 2026, page 123
- 14. Annual report, 29 Jun 2026, page 14
- 15. Annual report, 29 Jun 2026, page 8
- 16. Annual report, 29 Jun 2026, page 10
- 17. Annual report, 29 Jun 2026, page 94
- 18. Annual report, 29 Jun 2026, page 471
- 19. Investor presentation, 23 Jul 2026, page 16
- 20. Investor presentation, 23 Jul 2026, page 18
- 21. Investor presentation, 23 Jul 2026, page 16
- 22. Investor presentation, 23 Jul 2026, page 2
- 23. Annual report, 29 Jun 2026, page 63
- 24. Exchange filing, 23 Jul 2026, page 2
- 25. Investor presentation, 23 Jul 2026, page 4
- 26. Investor presentation, 23 Jul 2026, page 34
- 27. Investor presentation, 23 Jul 2026, page 2
- 28. Annual report, 29 Jun 2026, page 61
- 29. Investor presentation, 23 Jul 2026, page 17
- 30. Investor presentation, 23 Jul 2026, page 17
- 31. Investor presentation, 23 Jul 2026, page 2
- 32. Investor presentation, 23 Jul 2026, page 23
- 33. Investor presentation, 23 Jul 2026, page 2
- 34. Annual report, 29 Jun 2026, page 6
- 35. Investor presentation, 23 Jul 2026, page 2
- 36. Annual report, 29 Jun 2026, page 54
- 37. Investor presentation, 23 Jul 2026, page 14
- 38. Annual report, 29 Jun 2026, page 14
- 39. Investor presentation, 23 Jul 2026, page 15
- 40. Investor presentation, 23 Jul 2026, page 2
- 41. Investor presentation, 23 Jul 2026, page 2
- 42. Investor presentation, 23 Jul 2026, page 2
- 43. Investor presentation, 23 Jul 2026, page 8
- 44. Investor presentation, 23 Jul 2026, page 2
- 45. Investor presentation, 23 Jul 2026, page 45
- 46. Investor presentation, 23 Jul 2026, page 12
- 47. Earnings call, 24 Jul 2026, page 7
- 48. Earnings call, 24 Jul 2026, page 14
- 49. Investor presentation, 23 Jul 2026, page 2
- 50. Exchange filing, 23 Sep 2026, page 1
- 51. Exchange filing, 23 Sep 2026, page 4
- 52. Exchange filing, 15 Sep 2026, page 1
- 53. Exchange filing, 16 Sep 2026, page 2
- 54. Exchange filing, 23 Jul 2026, page 2
- 55. Exchange filing, 8 Jun 2026, page 2
- 56. Exchange filing, 8 Jun 2026, page 3
- 57. Exchange filing, 8 Jun 2026, page 1
Results
Consolidated; ₹ crore.Motilal Oswal Financial Services quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +44.4%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +33.3%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹3,042 Crdown 11.21%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹1,081 Crdown 15.10%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 35.6%
Revenue by quarter
Net profit by quarter, a loss in red
- Net profit
- Loss
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,999 | 1,209 | 2,737 | 1,849 | 2,112 | 2,676 | 3,426 | 3,042 |
| Net profit | 566 | −63 | 1,163 | 363 | 566 | −219 | 1,274 | 1,081 |
| Net margin | 28.3% | −5.2% | 42.5% | 19.6% | 26.8% | −8.2% | 37.2% | 35.6% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹9,374 Crup 11.37%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,872 Crdown 25.35%
- Net margin
- 20.0%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2019, the company's revenue for that year, ₹2,463 Cr, differs from its quarters added, ₹2,633 Cr. From the year to Mar 2020, the company's revenue for that year, ₹2,358 Cr, differs from its quarters added, ₹2,480 Cr.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,726 | 2,748 | 2,463 | 2,358 | 3,626 | 4,297 | 4,177 | 7,068 | 8,417 | 9,374 |
| Net profit | 360 | 562 | 298 | 190 | 1,259 | 1,312 | 935 | 2,446 | 2,508 | 1,872 |
| Net margin | 20.9% | 20.4% | 12.1% | 8.0% | 34.7% | 30.5% | 22.4% | 34.6% | 29.8% | 20.0% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Wealth ManagementWealth Management, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹4,083 Crdown 2.92%39.0%
- Asset and Private Wealth ManagementAsset and Private Wealth Management, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹3,365 Crup 27.63%32.1%
- Treasury InvestmentsTreasury Investments, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,430 Crup 28.14%13.7%
- Home FinanceHome Finance, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹801 Crup 22.91%7.6%
- Capital marketsCapital markets, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹791 Crup 26.19%7.6%
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the years to Mar 2019 and Mar 2020: days before it are of the company before the change.Motilal Oswal Financial Services PE ratio and valuation
At or below today's level on 55% of 2,317 trading days over the last 10 years.
At or below today's level on 75% of 1,957 trading days since Nov 2018.
At or below today's level on 28% of 2,474 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +3.8% | −25.6% | +38.2% | 0.9% |
| 3 years | +61.5% | +25.6% | +28.0% | 0.9% |
| 5 years | +33.4% | +8.0% | +22.5% | 1.1% |
Mutual fund holdings
148 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 89 of the 99 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 148 funds holding Motilal Oswal Financial Services
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 2
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 55
- CutCut. Funds that held fewer shares than at the end of the month before.
- 44
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 45
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 3
| Fund | |||
|---|---|---|---|
| 54,00,000 | 1.76% | ₹536.8 Cr | |
| 44,01,000 | 5.31% | ₹437.5 Cr | |
| 28,21,718 | 1.52% | ₹280.5 Cr | |
| 20,27,477 | 1.45% | ₹201.5 Cr | |
| 18,56,728 | 0.65% | ₹184.6 Cr | |
| 15,56,960 | 2.05% | ₹154.8 Cr | |
| 12,31,123 | 2.76% | ₹122.4 Cr | |
| 11,59,078 | 1.31% | ₹115.2 Cr | |
| 10,41,598 | 1.66% | ₹103.5 Cr | |
| 8,10,900 | 1.43% | ₹80.6 Cr |
Promoter and insider buying and selling
Trades made since 30 Oct 2025.Motilal Oswal Financial Services insider trading
- Promoters and promoter group0 purchases, 2 salesNo purchase₹153 CrNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.−₹153 Cr4 off-market moves
- Others: no market trade · 46 pledge filings of unclear kind
Motilal Oswal Financial Services competitors and peers
Stockbroking & Allied, 44 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Motilal Oswal Financial Services in market cap.Finance companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1,19,901 | 44.51 | 10.36 | – | – | 28.5% | 30.2% | 0.00% | |
| 43,861 | 35.18 | – | +29.4% | +10.7% | 12.7% | 9.8% | 1.32% | |
| 32,916 | 30.40 | 7.99 | +12.9% | +5.2% | 28.5% | 15.6% | 1.57% | |
| 26,857 | 23.25 | 4.03 | +21.3% | +47.7% | 18.5% | 14.8% | 2.20% | |
| 10,966 | 17.90 | 3.17 | +11.6% | +4.6% | 19.5% | 15.1% | 0.86% | |
| 3,894 | 10.71 | 1.48 | +14.6% | +17.6% | 14.6% | 18.5% | 1.01% | |
| 2,975 | 20.68 | 2.15 | – | – | 10.7% | 13.8% | 1.06% | |
| 2,801 | 14.54 | 2.63 | +27.1% | +24.0% | 19.8% | 22.5% | 0.28% |
Dividends
Per share, by the year it was paid for, and the latest payments.Motilal Oswal Financial Services dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 30 Jan 2026 | Interim | ₹6.00 |
| 31 Jan 2025 | Interim | ₹5.00 |
| 6 Feb 2024 | Interim | ₹14.00 |
| 4 Jul 2023 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹3.00 |
| 3 Feb 2023 | Interim | ₹7.00 |
| 1 Jul 2022 | Final | ₹3.00 |
Latest announcements
Routine notices left out.Motilal Oswal Financial Services announcements
Oct 2026
29 Oct · Disclosure
24 Oct · Analysts
23 Oct · Analysts
Motilal Oswal Financial Services annual report, year to Mar 2026
Motilal Oswal Financial Services share price by year
Each calendar year to 2025.Motilal Oswal Financial Services share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 855.75 | −10.3% | 1,091.30 | 565.65 |
| 2024 | 953.80 | +207.5% | 1,029.70 | 309.95 |
| 2023 | 310.21 | +80.8% | 320.63 | 138.39 |
| 2022 | 171.59 | −25.0% | 242.79 | 163.63 |
| 2021 | 228.91 | +52.3% | 281.28 | 145.68 |
| 2020 | 150.29 | −20.8% | 222.15 | 114.08 |
| 2019 | 189.86 | +13.3% | 204.86 | 124.55 |
| 2018 | 167.54 | −55.1% | 394.04 | 140.63 |
| 2017 | 373.38 | +186.9% | 390.58 | 128.43 |
| 2016 | 130.16 | +55.7% | 155.70 | 65.01 |
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 968.80 | 983.10 | 958.75 | 968.00 | 973.66 | 4,50,755 | 31.5% |
| 27 Oct 2026 | 929.80 | 977.40 | 928.80 | 969.00 | 955.40 | 8,40,551 | 33.2% |
| 26 Oct 2026 | 916.30 | 942.00 | 886.75 | 933.35 | 924.10 | 7,00,642 | 26.6% |
| 23 Oct 2026 | 983.10 | 983.10 | 911.55 | 925.80 | 927.36 | 10,27,839 | 33.5% |
| 22 Oct 2026 | 985.00 | 985.00 | 955.25 | 977.00 | 973.03 | 6,27,619 | 30.6% |
| 21 Oct 2026 | 1,021.00 | 1,032.45 | 976.00 | 985.00 | 994.15 | 10,23,502 | 47.1% |
| 19 Oct 2026 | 1,058.90 | 1,064.95 | 1,014.25 | 1,021.00 | 1,031.65 | 9,57,323 | 43.6% |
| 16 Oct 2026 | 1,074.10 | 1,074.10 | 1,044.40 | 1,057.60 | 1,060.30 | 6,01,008 | 38.8% |
| 15 Oct 2026 | 1,044.90 | 1,072.20 | 1,033.45 | 1,062.95 | 1,056.79 | 8,55,706 | 31.6% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 10 Jun 2024 | Bonus | 0.2500 | Holders received 3 bonus shares for every 1 held. |
| 25 Jul 2008 | Split | 0.2000 | Each share became 5. |
Company details
- NSE symbol
- MOTILALOFS
- BSE code
- 532892
- ISIN
- INE338I01027
- Industry
- Capital Markets
- Website
- www.motilaloswal.com
- CIN
- L67190MH2005PLC153397
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2005
- Registered office
- Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai 400025, Maharashtra
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments