Motilal Oswal Financial Services logo

Motilal Oswal Financial Services share price

NSE: MOTILALOFSBSE: 532892Capital MarketsMid Cap

Motilal Oswal Financial Services Limited · Face value ₹1 · Listed Sep 2007
Last close ₹986.10up ₹18.10 (1.87%)BSE ₹990.00

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

52-week range of traded prices to 29 Oct 2026
₹614.90Low, 23 Mar 2026₹1,090.25High, 7 Oct 2026
Market cap
₹59,460 Cr199th largest listed
P/E
22.03
P/B
3.83
Dividend yield
0.61%
ROE
19.0%
ROCE
11.8%
Debt to equity
1.72
Volume, NSE
9,64,28232.1% delivered

Motilal Oswal Financial Services share price chart

Daily closes since Sep 2007, adjusted for splits and bonuses

−2.2%over a year · Nifty MidSmall Financial Services +3.5% · Nifty 500 −8.4%

ResultsDividend20-session average 8,98,443 shares a day, 37.5% 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 segment2930
    Itemquarter to Jun 2026quarter 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 and private wealth management made up about 55% of operating profit after tax.
  • 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. 1. Annual report, 29 Jun 2026, page 240
  2. 2. Annual report, 29 Jun 2026, page 6
  3. 3. Annual report, 29 Jun 2026, page 55
  4. 4. Annual report, 29 Jun 2026, page 61
  5. 5. Annual report, 29 Jun 2026, page 6
  6. 6. Annual report, 29 Jun 2026, page 136
  7. 7. Annual report, 29 Jun 2026, page 120
  8. 8. Annual report, 29 Jun 2026, page 71
  9. 9. Annual report, 29 Jun 2026, page 59
  10. 10. Investor presentation, 23 Jul 2026, page 35
  11. 11. Investor presentation, 23 Jul 2026, page 14
  12. 12. Exchange filing, 15 Sep 2026, page 4
  13. 13. Annual report, 29 Jun 2026, page 123
  14. 14. Annual report, 29 Jun 2026, page 14
  15. 15. Annual report, 29 Jun 2026, page 8
  16. 16. Annual report, 29 Jun 2026, page 10
  17. 17. Annual report, 29 Jun 2026, page 94
  18. 18. Annual report, 29 Jun 2026, page 471
  19. 19. Investor presentation, 23 Jul 2026, page 16
  20. 20. Investor presentation, 23 Jul 2026, page 18
  21. 21. Investor presentation, 23 Jul 2026, page 16
  22. 22. Investor presentation, 23 Jul 2026, page 2
  23. 23. Annual report, 29 Jun 2026, page 63
  24. 24. Exchange filing, 23 Jul 2026, page 2
  25. 25. Investor presentation, 23 Jul 2026, page 4
  26. 26. Investor presentation, 23 Jul 2026, page 34
  27. 27. Investor presentation, 23 Jul 2026, page 2
  28. 28. Annual report, 29 Jun 2026, page 61
  29. 29. Investor presentation, 23 Jul 2026, page 17
  30. 30. Investor presentation, 23 Jul 2026, page 17
  31. 31. Investor presentation, 23 Jul 2026, page 2
  32. 32. Investor presentation, 23 Jul 2026, page 23
  33. 33. Investor presentation, 23 Jul 2026, page 2
  34. 34. Annual report, 29 Jun 2026, page 6
  35. 35. Investor presentation, 23 Jul 2026, page 2
  36. 36. Annual report, 29 Jun 2026, page 54
  37. 37. Investor presentation, 23 Jul 2026, page 14
  38. 38. Annual report, 29 Jun 2026, page 14
  39. 39. Investor presentation, 23 Jul 2026, page 15
  40. 40. Investor presentation, 23 Jul 2026, page 2
  41. 41. Investor presentation, 23 Jul 2026, page 2
  42. 42. Investor presentation, 23 Jul 2026, page 2
  43. 43. Investor presentation, 23 Jul 2026, page 8
  44. 44. Investor presentation, 23 Jul 2026, page 2
  45. 45. Investor presentation, 23 Jul 2026, page 45
  46. 46. Investor presentation, 23 Jul 2026, page 12
  47. 47. Earnings call, 24 Jul 2026, page 7
  48. 48. Earnings call, 24 Jul 2026, page 14
  49. 49. Investor presentation, 23 Jul 2026, page 2
  50. 50. Exchange filing, 23 Sep 2026, page 1
  51. 51. Exchange filing, 23 Sep 2026, page 4
  52. 52. Exchange filing, 15 Sep 2026, page 1
  53. 53. Exchange filing, 16 Sep 2026, page 2
  54. 54. Exchange filing, 23 Jul 2026, page 2
  55. 55. Exchange filing, 8 Jun 2026, page 2
  56. 56. Exchange filing, 8 Jun 2026, page 3
  57. 57. Exchange filing, 8 Jun 2026, page 1
Revenue growth, 12 months
+44.4%
Net profit growth, 12 months
+33.3%

Quarter to Sep 2026, against the quarter before

Revenue
₹3,042 Crdown 11.21%
Net profit
₹1,081 Crdown 15.10%
Net margin
35.6%

Revenue by quarter

₹1,999 CrDec 24₹1,209 CrMar 25₹2,737 CrJun 25₹1,849 CrSep 25₹2,112 CrDec 25₹2,676 CrMar 26₹3,426 CrJun 26₹3,042 CrSep 26
Peak revenue ₹3,426 Cr, quarter to Jun 2026; lowest ₹1,209 Cr, quarter to Mar 2025

Net profit by quarter, a loss in red

  • Net profit
  • Loss
₹566 CrDec 24−₹63 CrMar 25₹1,163 CrJun 25₹363 CrSep 25₹566 CrDec 25−₹219 CrMar 26₹1,274 CrJun 26₹1,081 CrSep 26
A loss in 2 of the 8 quarters shown
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue1,9991,2092,7371,8492,1122,6763,4263,042
Net profit566−631,163363566−2191,2741,081
Net margin28.3%−5.2%42.5%19.6%26.8%−8.2%37.2%35.6%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Wealth Management₹4,083 Crdown 2.92%39.0%
  • Asset and Private Wealth Management₹3,365 Crup 27.63%32.1%
  • Treasury Investments₹1,430 Crup 28.14%13.7%
  • Home Finance₹801 Crup 22.91%7.6%
  • Capital markets₹791 Crup 26.19%7.6%
The pill is the change in revenue on the year before; the share is of all the businesses together.

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

Price to earnings

At or below today's level on 55% of 2,317 trading days over the last 10 years.

LowestHighest
Its median20.33Industry median16.00
Price to book

At or below today's level on 75% of 1,957 trading days since Nov 2018.

LowestHighest
Its median3.02Industry median1.44
Dividend yield

At or below today's level on 28% of 2,474 trading days over the last 10 years.

LowestHighest
Its median0.79%Industry median0.86%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend 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%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Motilal Oswal Financial Services shareholding pattern

Shareholding by group

  • Promoters66.71%
  • Foreign institutions6.71%
  • Indian institutions7.28%
  • Individuals and others19.31%
Holder
Raamdeo Ramgopal AgarawalPromoter20.68%
Motilal Oswal Family TrustPromoter20.59%
Vaibhav Raamdeo AgrawalPromoter5.12%
Navin AgrawalDirectors and their relatives5.06%
Pratik Motilal OswalPromoter4.46%
Suneeta Raamdeo AgrawalPromoter4.23%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.49 pts, foreign institutions −0.15 pts, Indian institutions +0.50 pts, mutual funds −0.08 pts.

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 time
2
Bought again
1
Added
55
Cut
44
Held unchanged
45
Sold out
3
Fund
Kotak Mahindra Mutual Fund logoKotak Large & Mid Cap FundKotak Mahindra Mutual Fund54,00,0001.76%₹536.8 Cr
Tata Mutual Fund logoTata Value FundTata Mutual Fund44,01,0005.31%₹437.5 Cr
HSBC Mutual Fund logoHSBC Small Cap FundHSBC Mutual Fund28,21,7181.52%₹280.5 Cr
Sundaram Mutual Fund logoSundaram Mid Cap FundSundaram Mutual Fund20,27,4771.45%₹201.5 Cr
HDFC Mutual Fund logoHDFC Large & Mid Cap FundHDFC Mutual Fund18,56,7280.65%₹184.6 Cr
WhiteOak Capital Mutual Fund logoWhiteOak Capital Mid Cap FundWhiteOak Capital Mutual Fund15,56,9602.05%₹154.8 Cr
Tata Mutual Fund logoTata ELSS - Tax Saver FundTata Mutual Fund12,31,1232.76%₹122.4 Cr
Helios Mutual Fund logoHelios Flexi Cap FundHelios Mutual Fund11,59,0781.31%₹115.2 Cr
UTI Mutual Fund logoUTI Large & Mid Cap FundUTI Mutual Fund10,41,5981.66%₹103.5 Cr
HSBC Mutual Fund logoHSBC Aggressive Hybrid FundHSBC Mutual Fund8,10,9001.43%₹80.6 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Motilal Oswal Financial Services insider trading

Bought on the market Sold on the market
  • Promoters and promoter group0 purchases, 2 salesNo purchase₹153 CrNet−₹153 Cr4 off-market moves
  • Others: no market trade · 46 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

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

Return on equity across, P/E up, size is market cap
Company
Billionbrains Garage Ventures logoBillionbrains Garage VenturesGROWW1,19,90144.5110.36––28.5%30.2%0.00%
360 ONE WAM logo360 ONE WAM360ONE43,86135.18–+29.4%+10.7%12.7%9.8%1.32%
Nuvama Wealth Management logoNuvama Wealth ManagementNUVAMA32,91630.407.99+12.9%+5.2%28.5%15.6%1.57%
Angel One logoAngel OneANGELONE26,85723.254.03+21.3%+47.7%18.5%14.8%2.20%
IIFL Capital Services logoIIFL Capital ServicesIIFLCAPS10,96617.903.17+11.6%+4.6%19.5%15.1%0.86%
Share India Securities logoShare India SecuritiesSHAREINDIA3,89410.711.48+14.6%+17.6%14.6%18.5%1.01%
Anand Rathi Share and Stock Brokers logoAnand Rathi Share and Stock BrokersARSSBL2,97520.682.15––10.7%13.8%1.06%
Monarch Networth Capital logoMonarch Networth CapitalMONARCH2,80114.542.63+27.1%+24.0%19.8%22.5%0.28%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

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

1.4Mar 172.1Mar 182.1Mar 191Mar 202.5Mar 212.5Mar 222.5Mar 233.5Mar 245Mar 256Mar 26
Highest ₹6.00 a share, year to Mar 2026.
Ex-dateTypePer share
30 Jan 2026Interim₹6.00
31 Jan 2025Interim₹5.00
6 Feb 2024Interim₹14.00
4 Jul 2023Final₹3.00
3 Feb 2023Interim₹7.00
1 Jul 2022Final₹3.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Motilal Oswal Financial Services announcements

Motilal Oswal Financial Services share price by year

Each calendar year to 2025.Motilal Oswal Financial Services share price history

YearClose at year endChangeHighest closeLowest close
2025855.75−10.3%1,091.30565.65
2024953.80+207.5%1,029.70309.95
2023310.21+80.8%320.63138.39
2022171.59−25.0%242.79163.63
2021228.91+52.3%281.28145.68
2020150.29−20.8%222.15114.08
2019189.86+13.3%204.86124.55
2018167.54−55.1%394.04140.63
2017373.38+186.9%390.58128.43
2016130.16+55.7%155.7065.01
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 2026968.80983.10958.75968.00973.664,50,75531.5%
27 Oct 2026929.80977.40928.80969.00955.408,40,55133.2%
26 Oct 2026916.30942.00886.75933.35924.107,00,64226.6%
23 Oct 2026983.10983.10911.55925.80927.3610,27,83933.5%
22 Oct 2026985.00985.00955.25977.00973.036,27,61930.6%
21 Oct 20261,021.001,032.45976.00985.00994.1510,23,50247.1%
19 Oct 20261,058.901,064.951,014.251,021.001,031.659,57,32343.6%
16 Oct 20261,074.101,074.101,044.401,057.601,060.306,01,00838.8%
15 Oct 20261,044.901,072.201,033.451,062.951,056.798,55,70631.6%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
10 Jun 2024Bonus0.2500Holders received 3 bonus shares for every 1 held.
25 Jul 2008Split0.2000Each share became 5.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
Raamdeo Ramgopal Agarawal
At the end of the quarter to Sep 2026
Managing director and CEO
Motilal Gopilal Oswal
At the end of the quarter to Sep 2026
Managing director
Navin Hariprasad Agarwal
At the end of the quarter to Sep 2026
NSE symbol
MOTILALOFS
BSE code
532892
ISIN
INE338I01027
Industry
Capital Markets
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