Motilal Oswal Financial Services (MOTILALOFS) Q1 26/27 earnings summary

Executive summary

• Achieved highest-ever quarterly PAT (including OCI) of ₹1,513 Cr in Q1FY27, with 14% YoY growth in operating PAT, driven by Asset & Private Wealth Management, which contributed 55% of group operating PAT and posted 46% YoY segment PAT growth.

• Annual Recurring Revenue (ARR) share rose to 66%, reflecting a shift to annuity-led revenues and improving earnings quality.

• Maintained strong market position across capital market businesses, with diversified and recurring fee-based income streams.

• Investment book compounded at 41% since inception, with consistent dividends, three buybacks, and no equity dilution since listing.

• Net worth reached ₹14,429 Cr as of June 2026, reflecting a 28% CAGR over the past 6 years.

Financial highlights

• Net operating revenue for Q1FY27 was ₹1,538 Cr, up 8% YoY; consolidated revenue from operations was ₹3,42,576 lakh, with operating PAT at ₹609 Cr, up 14% YoY, and total PAT (incl. OCI) at ₹1,513 Cr.

• Asset management and private wealth AUM reached ₹4.5 lakh Cr, up 34% YoY; AUA stood at ₹7.9 lakh Cr, up 22% YoY.

• Wealth Management AUM rose 37% YoY to ₹2.39 lakh Cr; ARR revenue up 42% YoY.

• Housing Finance AUM grew 26% YoY to ₹6,312 Cr; PAT up 36% YoY to ₹32 Cr; GNPA at 1.1%, NNPA at 0.6%.

• Treasury investments PAT at ₹904 Cr in Q1FY27; book grew 22% YoY to ₹10,482 Cr.

Outlook and guidance

• Targeting multi-fold AUM growth in AMC and Alternates over the next decade, with focus on expanding market share and maintaining ROE above 20% in operating businesses.

• Treasury book expected to grow from $1bn to multi-billion dollars in the next decade.

• Margins expected to sustain at 50%-52% for the year, supported by high variable cost structure.

• Multiple new fund launches planned in alternates and mutual funds, with several funds crossing three-year vintage.

• Strong IPO and investment banking pipeline, with growth dependent on market windows for execution.