Motilal Oswal Financial Services delivered robust results for the financial year ending March 2026, marked by a 16% YoY growth in operating profit after tax to ₹2,360 crores. The company’s performance was driven by a 33% growth in Asset and Private Wealth businesses, which now contribute 50% of the total operating profit. Despite regulatory headwinds and market volatility, the firm maintains a positive outlook for the upcoming years.
Financial Performance Overview
The company reported a strong finish to FY26, with fourth-quarter operating profit after tax growing by 25%, reaching a run rate of ₹661 crores. This performance was achieved even amidst a challenging external environment and regulatory adjustments. The company’s long-term credit rating was upgraded to AA+, reflecting its stability as a non-bank capital market player.
Growth in Asset and Wealth Management
The Asset Management and Private Wealth segments remain primary growth drivers. The company recorded ₹70,000 crores in net flows and achieved a 34% YoY increase in AUM, reaching ₹3.7 lakh crores. The AMC AUM specifically crossed ₹1.5 lakh crores, bolstered by a significant rise in unique PANs and a strong SIP run rate of ₹18,000 crores annually.
Strategic Business Highlights
- Alternates Business: Successfully raised ~USD 1 billion for the IBEF V growth capital fund, leading to a 40% growth in fee-accruing AUM to ₹21,000 crores.
- Private Wealth: Focused on Ultra HNI and Family Office segments, with AUM per relationship manager rising to ₹450 crores.
- Broking & Lending: Maintained leadership in the cash segment, with the distribution book growing 41% to ₹40,662 crores and the loan book rising 32% to ₹6,094 crores.
Future Outlook
Looking ahead, the company is well-positioned to capitalize on the increasing financialization of savings in India. With 60% of group revenues now stemming from annuity streams, the firm expects improved quality and predictability in cash flows. Investments in AI-driven infrastructure, product diversification, and a robust deal pipeline in the capital markets segment are expected to support continued growth into FY27.
Source: BSE
