Motilal Oswal Financial Services Limited Earnings Summary — Q1 FY2027
Motilal Oswal Financial Services Reports Robust Q1 FY2027 with Net Profit Surging to ₹1,06,787 Lakh
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 4 consecutive quarters.
- Revenue of ₹3,426 Cr is 25.2% higher year-on-year.
- Revenue has compounded at 22.9% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹1,273 Cr is 9.6% above the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 38.2% annualised across the period.
- Operating margin stands at 57.5% in Q1 FY2027.
- Operating margin compressed by 533 bps year-on-year.
- Over the last two years operating margin has contracted by 249 bps.
- PBT margin is 44.8%.
- Expenses grew 43.1% against revenue growth of 25.2%.
- Operating profit of ₹1,970 Cr is 14.5% higher year-on-year.
- Operating leverage continues to improve.
- 4 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 65/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Volatile | 3,426 | 2,676 | 2,112 | 1,849 | 2,737 | 1,190 | 1,993 | 2,841 | 2,314 | 2,154 |
| Expenses | Volatile | 1,456 | 2,471 | 1,006 | 1,009 | 1,018 | 911 | 932 | 1,025 | 926 | 916 |
| Operating Profit | Volatile | 1,970 | 205 | 1,105 | 840 | 1,720 | 280 | 1,061 | 1,816 | 1,388 | 1,238 |
| Operating Margin | Volatile | 57.5% | 7.7% | 52.4% | 45.4% | 62.8% | 23.5% | 53.3% | 63.9% | 60.0% | 57.5% |
| Other Income | Volatile | 6 | 16 | 9 | 11 | 7 | 18 | 26 | 15 | 19 | 18 |
| Interest | Improving | 414 | 388 | 336 | 317 | 295 | 298 | 319 | 354 | 327 | 302 |
| Depreciation | Stable | 28 | 28 | 29 | 28 | 26 | 26 | 27 | 23 | 22 | 24 |
| Profit Before Tax | Volatile | 1,534 | -194 | 748 | 506 | 1,406 | -27 | 741 | 1,454 | 1,059 | 930 |
| Tax | Volatile | 260 | 25 | 182 | 143 | 250 | 37 | 175 | 332 | 175 | 205 |
| Net Profit | Volatile | 1,273 | -221 | 566 | 362 | 1,162 | -65 | 565 | 1,120 | 882 | 723 |
| Net Margin | Volatile | 37.2% | -8.3% | 26.8% | 19.6% | 42.5% | -5.4% | 28.3% | 39.4% | 38.1% | 33.6% |
Key Takeaways
- Revenue from operations grew by 127% YoY to ₹3,43,223 Lakh, driven by strong growth in Fee and Commission income.
- Net gain on fair value changes (MTM) contributed significantly to profitability, reaching ₹1,10,515 Lakh for the quarter.
- CRISIL upgraded the company's long-term rating from CRISIL AA/Positive to CRISIL AA+/Stable during the quarter.
- Wealth Management and Capital Markets segments remains the primary revenue drivers, contributing roughly 31% and 45% of total segment revenue respectively.
- The Asset and Private Wealth Management segment saw strong growth with revenue reaching ₹15,526 Lakh.
- The company incorporated a new wholly-owned step-down subsidiary, Motilal Oswal Pension Fund Management Limited (MOPF), on June 4, 2026.
Management Guidance
Management focus remains on diversifying from a pure broking business into a structural compounder in the financial services sector by growing the AUM and fee-based revenue streams.
Sentiment Shift
Improving
A massive rebound in net profit and revenue compared to previous quarters, supported by a credit rating upgrade and favorable market-to-market gains.
Outlook
The company is positioned for structural growth in the Indian financial sector, focusing on Annual Recurring Revenue (ARR) to buffer against market cyclicality.
From the Annual Report (Key Quotes)
“Management communications are transparent with clear disclosure of AUM, yields, and segment performance.”
“Focus on 'Annual Recurring Revenue' (ARR) provides a stable buffer against the cyclical nature of capital markets.”
“The board considered and approved Unaudited Financial Results for the quarter ended June 30, 2026.”
Official Quarterly Documents
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This summary is AI-generated from Motilal Oswal Financial Services Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.
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