India · Delayed Price · Currency is INR Motilal Oswal Financial Services Earnings Call Transcripts
Fiscal Year 2026
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Operating PAT grew 16% year-over-year to INR 2,360 crores, led by strong Asset Management and Private Wealth performance. Annuity businesses now contribute over 60% of revenues, with robust AUM growth and a positive outlook despite regulatory and market headwinds.
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Q3 FY26 saw 16% year-over-year operating profit growth, with asset and private wealth businesses driving over half of group profits. ARR revenues now form 65% of net revenues, and new fund launches and strong net worth position the group for continued growth.
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Operating profit after tax rose 2% year-on-year to INR 554 crores, led by 36% growth in asset and private wealth businesses, which now contribute over half of group profits. Asset management AUM surged 46% year-on-year, and the firm achieved a credit rating upgrade to AA+ with a stable outlook.
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Reported record quarterly profit and strong growth across asset management, private wealth, and capital markets, with significant milestones in AUM and customer base. Fee-based and recurring revenues now form a majority, and robust deal pipelines and tech investments support a positive outlook.
Fiscal Year 2025
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FY25 saw strong growth with operating revenue up 31% YoY and record net worth, driven by market share gains across all segments. Wealth and AMC businesses posted robust flows, while technology and talent investments support future scalability. ROE reached 25% and treasury investments delivered an 18% IRR.
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Q3 FY25 saw 43% YoY revenue growth and 38% YoY profit growth, with assets under advice up 62% YoY. Wealth, asset management, and private wealth segments all posted strong double-digit growth, and the group declared an interim dividend of INR 5 per share.
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Q2 FY25 saw record profit growth of 123% YoY and strong revenue gains across all segments, with AUM and market share rising sharply. Wealth, asset management, and housing finance all posted robust growth, while ongoing investments in distribution and RM capacity are set to drive future expansion.
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Profit after tax rose 52% year-over-year to INR 1,021 crore, with strong growth in wealth and asset management segments. Digital initiatives and AI investments are underway, and regulatory changes are expected to have minimal impact on revenue.