Please find enclosed herewith the Transcript of the Earnings Conference Call ('Con-Call') with Investor(s)/Analyst(s) held on Thursday, April 30, 2026 to discuss Financial Performance ....
MOTILALOFS · price
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Motilal Oswal Financial Services reported FY26 operating profit after tax of ₹2,360 crores, growing 16% YoY, with Q4FY26 showing stronger 25% growth and an exit run rate of ₹661 crores. The company upgraded to AA+ credit rating, the highest for any non-bank domestic capital market player. Asset Management AUM crossed ₹1.5 lakh crores with SIP flows up 78% to ₹16,000 crores, while the investment book of ₹9,000 crores saw mark-to-market losses largely recouped in April 2026. Management highlighted strong 10-year track record of 33% compounded operating PAT growth and 23% ROE, driven by annuity businesses now contributing over 60% of revenues. The company expects continued margin improvement from rising annuity revenue share and operating leverage across businesses.
Strong operational performance despite regulatory headwinds and weak markets positions the stock well. Rising share of annuity revenues from Asset Management and Private Wealth segments should drive more predictable earnings and potentially re-rate the stock. The company's ability to grow operating profit 16% in a challenging environment demonstrates business resilience.