MOTILALOFSFinancial Services

Motilal Oswal Financial Services Limited

Stockbroking & Allied · ISIN INE338I01027 · BSE 532892 · NSE EQ · FV ₹1
Last price
₹1,013
+0.30%today
What this company does

Motilal Oswal Financial Services Limited operates in Stockbroking & Allied, part of the Financial Services sector. It booked ₹3,042 cr of revenue in its latest quarter (Q2 FY27) and kept 35.5% of sales as profit. It is the 2nd largest of 9 Stockbroking & Allied companies we track, by market value.

68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 102–253 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
52

At close. Not part of the score.

Profitability & returns86

How much profit it earns on the money it employs

Cash quality33

Whether reported profit actually arrives as cash

Growth & consistency82

Whether sales and profit have grown, and how steadily

Valuation15

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 36% net margin
✓ Sales up 64% vs last year
✓ Profit up 198% vs last year
✓ Promoters hold 67%
✓ No promoter shares pledged
✓ Strong 28% return on equity
Watch-outs
! Operating cash flow is negative

What if I invest in MOTILALOFS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,013▲ +0.30%
latest close · 2026-11-04
1-year return
+344.9%
52-wk low ₹17952-wk high ₹1,090
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio14.1Low
LowAverageHigh
P/B ratio3.93High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity27.8%Strong
WeakFairStrong ▸15%
Net margin35.5%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.46Comfortable
LowModerateHigh ▸1
More figures
Market cap
₹61,082 cr
Book value
₹258
EPS
₹17.94
latest quarter
Net debt
—
Enterprise value
—
EBITDA
—
EBIT
—
Operating margin
—
Return on assets
8.1%
Earnings yield
7.08%
P/S
5.02
Sales / share
₹201.8
Tax rate
18.9%
Face value
₹1
Shares
60.3 cr
Working capital
—
Current assets
—
Current liabilities
—
Delivery %
34.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹506 vs market price ₹1,013 — price is 100% above it
Safety cushion-100.4%(target ≥ +20%)
Models span ₹360–₹651, midpoint ₹506
Model ₹506
Price ₹1,013
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹3,042 cr
Other Income₹2 cr
Total Income₹3,044 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹594 cr
Finance Costs₹476 cr
Depreciation & Amortisation₹30 cr
Other Expenses₹222 cr
Total Expenses₹1,711 cr
Profit before Tax₹1,333 cr
Tax Expense₹251 cr
Net Profit₹1,081 cr
Net margin on total income35.5%
Where the money goes · Q2 FY27
% of total income
Employee benefit expense₹594 cr19.5%
Finance costs₹476 cr15.6%
Depreciation & amortisation₹30 cr1.0%
Other expenses₹612 cr20.1%
Tax expense₹251 cr8.3%
Profit for the period₹1,081 cr35.5%
Total income ₹3,044 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue2,676 cr3,426 cr3,042 cr
Total income2,692 cr3,432 cr3,044 cr
Expenses2,887 cr1,898 cr1,711 cr
Profit before tax-194 cr1,534 cr1,333 cr
Tax25 cr260 cr251 cr
Net profit (owners' share)-221 cr1,273 cr1,081 cr
Net margin (owners' share, on revenue)-8.3%37.2%35.5%
EPS (₹)-3.6921.1517.94
YoY (latest quarter): total income +63.7% · net profit +198.2%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹53,063 cr
Shareholder equity
₹15,541 cr
parent shareholders
Total debt
₹7,102 cr
Cash
₹6,447 cr
Cash flow · H1 FY27
Operating
₹-4,079 cr
Investing
₹-234 cr
Financing
₹5,592 cr
Peer comparison
Stockbroking & Allied · by market value
CompanyPriceMarket capP/E
Billionbrains Garage Ventures Limited₹206₹1.29 L cr44.0
Motilal Oswal Financial Services Limitedthis company₹1,010₹60,901 cr14.1
360 ONE WAM LIMITED₹1,065₹43,441 cr36.1
Nuvama Wealth Management Limited₹1,866₹34,067 cr27.8
Angel One Limited₹310₹28,389 cr21.1
IIFL Capital Services Limited₹348₹10,973 cr21.4
Share India Securities Limited₹184₹4,030 cr8.1
Anand Rathi Share and Stock Brokers Limited₹481₹3,032 cr18.1
Monarch Networth Capital Limited₹346₹2,742 cr12.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.59%
trailing 12 months
Dividend / share (TTM)
₹6
Last dividend
₹6
ex 30 Jan 2026
ActionDetailEx-date
Dividend₹6 / share30 Jan 2026
Dividend₹5 / share31 Jan 2025
Bonus issue1:310 Jun 2024
Dividend₹14 / share6 Feb 2024
Dividend₹3 / share4 Jul 2023
Dividend₹7 / share3 Feb 2023
Who owns it · 2026-09-30
No pledge
Promoter
66.7%
FII / Foreign
6.7%
DII / Domestic
7.3%
Retail / others
19.3%
Promoter stake down 2.5% over the last 12 quarters.
Smart-money activity
Insider trades
SoldRaamdeo Ramgopal Agarawal · Promoters2.12 L · ₹19.6 cr31 Oct 24
SoldMotilal Gopilal Oswal · Promoters2.12 L · ₹19.6 cr31 Oct 24
BoughtMotilal Oswal Foundation · Promoter Group4.24 L · ₹39.2 cr31 Oct 24
Bulk / block deals
short— · NSE1029 Oct 26
short— · NSE66 Oct 26
short— · NSE2,52230 Sep 26
Stake changes
SoldMotilal Oswal Family Trust · promoter→ 20.68% · 1.80 cr3 Nov 25
SoldPPFAS Mutual Fund→ 3.28% · 3.52 L29 Oct 24
SoldRaamdeo Agarawal · promoter→ 21.78% · 2.99 cr4 Jul 24
Promoter pledges
ReleasedAditya Birla finance Limited10,000 · 0.00% held10 Apr 18
PledgedAditya Birla Finance Limited10,000 · 0.00% held29 Mar 17
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 30 Dec 2025
See the official result
1
Appointment of Mr. Pratik Oswal (DIN: 06704419) as a Non-Executive Director of the Company
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
11.60 cr votes for, 14.77 L against · 2% of mutual funds and other big investors said no
2
Approval of Remuneration to Mr. Pratik Oswal (DIN: 06704419) for holding the Office or Place of Profit
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
11.71 cr votes for, 3.99 L against · 1% of mutual funds and other big investors said no
3
Appointment of Mr. Vaibhav Agrawal (DIN: 06663890) as a Non-Executive Director of the Company
Promoters had a personal stake in this
Backed by 98% of shareholders other than promotersneeded 50%
11.54 cr votes for, 21.46 L against · 3% of mutual funds and other big investors said no
4
Approval of Remuneration to Mr. Vaibhav Agrawal (DIN: 06663890) for the holding Office or Place of Profit
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
11.71 cr votes for, 3.96 L against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 17 named members
owning 66.7% between them · as of 2026-09-30
Raamdeo Ramgopal Agarawal20.68%
Motilal Oswal Family Trust20.59%
Vaibhav Raamdeo Agrawal5.12%
Pratik Motilal Oswal4.46%
Suneeta Raamdeo Agrawal4.23%
Raamdeo Agarwal HUF2.98%
Motilal Gopilal Oswal2.24%
Vimla Motilal Oswal1.49%
Business done with them
FY2026 · 2 of the group
The company paid ₹91 cr to companies in the promoter group last year — about 1.0% of its ₹9,374 cr revenue and received ₹31 L back from them.
Motilal Oswal Family Trust
Other payments to them · As stated below
also owns 20.59% of the company
₹75 cr
company paid
MOTILAL OSWAL FOUNDATION
Other payments to them · As stated below
₹16 cr
company paid
MOTILAL OSWAL FOUNDATION
Other income from them · As stated below
₹31 L
company received

The company also transacted with 39 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.