Motilal Oswal Financial Services (MOFSL) delivered strong financial results for the quarter and year ended March 31, 2026, achieving its highest-ever operating profit. The company reported a quarterly Operating PAT of ₹661 crore, marking a 25% year-on-year growth, and an annual Operating PAT of ₹2,360 crore, representing a 16% year-on-year increase. Growth was primarily driven by significant performance in its Asset Management and Private Wealth Management divisions, supported by a diversified annuity-led revenue model.
Strong Financial Performance
MOFSL closed the financial year 2026 on a high note, demonstrating the scalability of its integrated business model. Total operating net revenue reached ₹5,908 crore for the year, a 14% increase over the previous year. The company’s focus on sustainable, fee-based revenues has been successful, with the share of Annuity Recurring Revenue (ARR) increasing to approximately 60% of the total net revenue mix.
Segmental Growth Drivers
The company’s performance was bolstered by robust growth across its core segments:
- Asset & Private Wealth Management: This segment reported an operating PAT of ₹337 crore for the quarter, reflecting a 48% year-on-year growth. Total AUM for the group reached over ₹6.6 lakh crore.
- Wealth Management: The segment contributed ₹204 crore to the quarterly PAT. Brokerage revenue saw a strong 33% year-on-year growth in Q4.
- Capital Markets: The business recorded an operating PAT of ₹75 crore for the quarter, a 12% year-on-year increase, maintaining its leadership position in QIP and IPO mandates.
- Housing Finance: Demonstrating significant momentum, this segment saw a 61% year-on-year PAT growth for the quarter, reaching ₹59 crore, supported by a $100 million fundraise from the Asian Development Bank.
Strategic Outlook and Capital Allocation
MOFSL continues to prioritize a robust capital allocation strategy, evidenced by its AA+ credit rating. The company has maintained a strong treasury book, which grew at a 40% CAGR since its inception, acting as a strategic buffer to support the growth of its operating businesses without the need for external equity dilution. With total active clients surpassing 15.5 million and a nationwide presence covering 95% of India’s pin codes, the company remains well-positioned to capitalize on the ongoing financialisation of savings in the country.
Source: BSE
