Motilal Oswal Financial Services Limited (MOTILALOFS) AI Stock Analysis

• Market Cap: ₹451.96B
• Dividend Yield: 0.57%
• Average Volume (3M): 75.94K
• Price to Earnings (P/E): 22.2
• Beta (1Y): 1.71
• Revenue Growth: -14.24%
• EPS Growth: -40.53%
• Country: IN
• Employees: 13,000
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 9.42
• Shares Outstanding: 601,131,160
• 10 Day Avg. Volume: 44,169
• 30 Day Avg. Volume: 75,943
• PEG Ratio: 8.77
• Price to Book (P/B): 3.22
• Price to Sales (P/S): 5.55
• P/FCF Ratio: 38.40
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: ₹850.00 ▼(-1.84% Downside)

The score is supported by strong underlying financial performance (profitability, margins, and ROE). This is offset by weak technical conditions with the price below key moving averages and a negative MACD. Valuation is moderate with a low dividend yield, offering limited support.

Positive Factors

High operating margins

Sustained high gross and net margins indicate durable cost control and pricing power across the group's brokerage, wealth and asset management lines. Margin resilience supports cash generation and reinvestment capacity, making earnings less sensitive to moderate revenue swings over months.

Strong return on equity

A robust ROE signals effective capital allocation and profitable deployment of client and shareholder capital. Over a multi-month horizon, strong ROE supports organic growth funding, investor confidence, and the ability to scale wealth and asset-management offerings without proportionate capital raises.

Diversified financial services franchise

A multi-product model reduces reliance on any single revenue stream and enables cross-selling to retail and HNW clients. Structural diversification (broking, advisory, AUM fees, IB) supports steadier revenue capture across market cycles and strengthens client retention over months.

Negative Factors

Recent revenue and EPS decline

Material YoY declines in revenue and EPS indicate weakening core activity or margin pressures that can persist without corrective action. Over 2–6 months, falling top-line and earnings reduce reinvestment ability, weaken incentive economics for advisors, and stress organic growth prospects.

Volatile operating cash flow

Intermittent operating cash flow undermines predictable free cash generation and can force reliance on short-term funding for working capital or client financing. Persisting volatility hampers capital allocation consistency and raises execution risk for strategic initiatives over the medium term.

Moderate leverage on balance sheet

Typical financial-sector leverage still increases sensitivity to funding costs, margin compression, or credit stress. Over several months, moderate leverage can limit flexibility to pursue growth or absorb market shocks, making capital management and liquidity execution critical risks.

Motilal Oswal Financial Services Limited Business Overview & Revenue Model

Company Description

Motilal Oswal Financial Services Limited offers financial services in India. It operates through Broking and Other Related Activities, Fund Based Activities, Asset Management and Advisory, Investment Banking Services, and Home Finance segments. The company offers broking and distribution services, such as equities, derivatives, commodities, currencies, mutual funds, insurance products, and other investment products; primary equity offerings; and depository, portfolio management, and asset management services. It also provides private wealth management services, such as equity, alternate, credit solutions, estate planning, will making, and property advisory services; and home loans. In addition, the company offers institutional broking services, including cash and derivatives; private equity services; and investment banking advisory and transaction solutions, including private placement of equity, mergers and acquisitions advisory, and equity capital markets transactions. It serves high net worth individuals; and mutual funds, foreign institutional investors, financial institutions, and corporate clients. Motilal Oswal Financial Services Limited was founded in 1987 and is headquartered in Mumbai, India. Motilal Oswal Financial Services Limited operates as a subsidiary of Passionate Investment Management Private Limited.

How the Company Makes Money

Motilal Oswal Financial Services generates revenue through multiple streams. The primary sources of income include brokerage fees from retail and institutional trading, management fees from asset management services, and advisory fees from investment banking activities. Additionally, the company earns interest income from its financing activities and investments in securities. Key partnerships with technology firms enhance its trading platforms and customer experience, while a strong brand presence and customer loyalty contribute to a stable revenue base. The firm also benefits from market volatility, as heightened trading activity can lead to increased brokerage revenues.

Motilal Oswal Financial Services Limited Financial Statement Overview

Summary

Strong profitability and growth with high EBIT/EBITDA margins and solid net margins. Balance sheet is stable with impressive ROE, though leverage should be monitored. Cash flow is improving but has shown historical operating cash flow volatility.

Income Statement

Motilal Oswal Financial Services has demonstrated robust revenue and profit growth over the years. The Gross Profit Margin and Net Profit Margin have remained strong, indicating effective cost management. The company achieved a high EBIT and EBITDA margin, suggesting strong operational efficiency.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, which is typical for financial firms but worth monitoring. Return on Equity is impressive, reflecting efficient use of shareholder funds. A solid Equity Ratio indicates a stable financial structure.

Cash Flow

The cash flow position has seen improvements, with positive free cash flow growth in the latest year, although historical volatility in operating cash flow should be noted. The Operating Cash Flow to Net Income ratio highlights adequate cash generation relative to earnings.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	75.04B	64.42B	51.74B	38.19B	36.68B	27.02B
Gross Profit	47.01B	35.26B	27.92B	20.33B	19.53B	14.57B
EBITDA	46.31B	45.78B	41.15B	18.63B	21.16B	19.16B
Net Income	27.82B	25.02B	24.41B	9.32B	13.10B	12.60B
Balance Sheet
Total Assets	0.00	339.87B	318.29B	230.10B	169.23B	141.17B
Cash, Cash Equivalents and Short-Term Investments	0.00	104.98B	127.51B	88.37B	39.79B	24.42B
Total Debt	0.00	147.32B	138.87B	102.76B	61.52B	56.93B
Total Liabilities	-111.31B	228.56B	230.60B	167.27B	112.23B	96.29B
Stockholders Equity	111.31B	110.79B	87.32B	62.52B	56.74B	44.61B
Cash Flow
Free Cash Flow	0.00	9.30B	-5.00B	-32.25B	9.56B	8.65B
Operating Cash Flow	0.00	12.15B	-3.50B	-30.58B	10.11B	9.29B
Investing Cash Flow	0.00	-10.77B	-2.47B	-2.87B	-4.47B	-2.73B
Financing Cash Flow	0.00	7.45B	33.06B	37.84B	2.82B	8.61B

Motilal Oswal Financial Services Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 865.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MOTILALOFS, the sentiment is Negative. The current price of 865.95 is above the 20-day moving average (MA) of 798.63, above the 50-day MA of 846.48, and below the 200-day MA of 869.83, indicating a bearish trend. The MACD of -30.09 indicates Positive momentum. The RSI at 39.48 is Neutral, neither overbought nor oversold. The STOCH value of 29.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MOTILALOFS.

Motilal Oswal Financial Services Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NAM.INDIA	76 Outperform	₹559.78B	37.87	―	2.14%	9.15%	0.43%
ANANDRATHI	73 Outperform	₹239.32B	66.27	―	0.43%	22.46%	30.82%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
MOTILALOFS	65 Neutral	₹451.96B	22.19	―	0.57%	-14.24%	-40.53%
ABSLAMC	65 Neutral	₹219.30B	21.79	―	3.09%	10.40%	8.23%
UTIAMC	65 Neutral	₹124.69B	22.25	―	2.30%	-9.65%	-30.52%
CDSL	61 Neutral	₹275.92B	58.46	―	0.82%	3.63%	-11.24%

Motilal Oswal Financial Services Limited Corporate Events

Motilal Oswal Financial Services to Issue Rs. 300 Crore in Non-Convertible Debentures

Motilal Oswal Financial Services Limited has announced the issuance of up to 30,000 fully paid, secured, rated, redeemable, listed senior bonds in the form of non-convertible debentures (NCDs) with a face value of Rs. 1,00,000 each, aggregating to Rs. 300 crore. This issuance, approved by the company’s Finance Committee, is set to be conducted on a private placement basis and will be listed on the National Stock Exchange of India Limited. The move is expected to enhance the company’s financial flexibility and strengthen its market position by leveraging secured debt instruments.

Motilal Oswal Financial Services Publishes Postal Ballot Notice

Motilal Oswal Financial Services Limited announced that it has distributed the Postal Ballot Notice and Explanatory Statement to its members via email, as part of its compliance with regulatory requirements. The company also published advertisements regarding this notice in Financial Express and Navshakti newspapers, ensuring transparency and communication with stakeholders.