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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Q1 FY26 saw record profit after tax, robust growth in asset and private wealth management, and strong capital markets performance. Fee-based and recurring revenues rose, with significant investments in technology and talent. Outlook remains positive with strong deal pipelines and continued expansion across segments.
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 robust 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, while housing finance and capital markets also expanded. Interim dividend of INR 5 per share declared.
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Q2 FY25 saw record profit growth, strong AUM expansion, and market share gains across all segments. Wealth and asset management businesses posted robust revenue and profit increases, supported by product launches and RM expansion. Treasury profits remain volatile, and regulatory changes may impact F&O volumes, but the outlook is positive.
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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.