Motilal Oswal Financial Services Limited — quarter and year ended 31 March 2026 (Consolidated and Standalone)
Consolidated Statement of Consolidated Financial Results (Rs. in Lakhs, unless otherwise stated)
| Particulars | For the quarter ended 31 Mar 2026 (Audited)# | 31 Dec 2025 (Unaudited) | 31 Mar 2025 (Audited)# | For the year ended 31 Mar 2026 (Audited) | 31 Mar 2025 (Audited) |
|---|---|---|---|---|---|
| Revenue from operations | |||||
| (i) Interest income | 72,008 | 68,894 | 58,484 | 2,62,108 | 2,44,332 |
| (ii) Dividend income | 153 | 25 | 95 | 2,197 | 1,001 |
| (iii) Rent income | 1 | 1 | 1 | 8 | 38 |
| (iv) Fee and commission income | 1,23,624 | 1,20,521 | 1,02,336 | 4,69,460 | 4,54,633 |
| (v) Net gain on fair value change | (71,657) | 19,660 | (42,989) | 56,586 | 1,29,037 |
| (vi) Other operating income | 2,682 | 2,065 | 1,099 | 6,229 | 4,864 |
| (vii) Sale of Commodities | 1,40,809 | – | – | 1,40,809 | – |
| (I) Total revenue from operations | 2,67,620 | 2,11,166 | 1,19,026 | 9,37,397 | 8,33,905 |
| (II) Other Income | 1,605 | 850 | 1,829 | 4,245 | 7,817 |
| (III) Total Income (I)+(II) | 2,69,225 | 2,12,016 | 1,20,855 | 9,41,642 | 8,41,722 |
| Expenses | |||||
| (i) Finance cost | 38,772 | 33,638 | 29,849 | 1,33,641 | 1,29,846 |
| (ii) Fees and commission expense | 37,916 | 33,896 | 27,039 | 1,32,194 | 1,32,906 |
| (iii) Impairment on financial instruments | 724 | 736 | 179 | 6,704 | 869 |
| (iv) Purchase of Commodities | 1,42,469 | – | – | 1,42,459 | – |
| (v) Employee benefits expenses | 44,045 | 48,545 | 43,250 | 1,97,284 | 1,74,139 |
| (vi) Depreciation and amortisation expenses | 2,765 | 2,911 | 2,622 | 11,067 | 9,876 |
| (vii) Other expenses | 21,979 | 17,447 | 20,582 | 71,779 | 71,460 |
| (IV) Total expenses | 2,88,670 | 1,37,173 | 1,23,521 | 6,95,138 | 5,19,096 |
| (V) Profit/(Loss) before exceptional items and tax (III)-(IV) | (19,445) | 74,843 | (2,666) | 2,46,504 | 3,22,626 |
| (VI) Exceptional items | – | – | – | – | – |
| (VII) Profit / (Loss) before tax and after exceptional items (V)+(VI) | (19,445) | 74,843 | (2,666) | 2,46,504 | 3,22,626 |
| Tax expense/(credit) | |||||
| (1) Current tax | 14,794 | 16,992 | 12,142 | 63,105 | 58,227 |
| (2) Deferred tax expense/(credit) | (12,667) | 420 | (6,915) | (4,549) | 15,024 |
| (3) Short/(excess) provision for earlier years | 339 | 814 | (1,575) | 1,405 | (1,443) |
| (VIII) Total tax expenses/(credit) | 2,466 | 18,226 | 3,652 | 59,961 | 71,808 |
| (IX) Profit after tax (VII)-(VIII) | (21,911) | 56,617 | (6,319) | 1,86,543 | 2,50,818 |
| (X) Income from associate (net of taxes) | |||||
| (i) Gain on disposal on investment | – | 0 | 703 | 0 | |
| (XI) Profit after tax and income from associate (IX)+(X) | (21,911) | 56,617 | (6,319) | 1,87,246 | 2,50,818 |
| (XII) Other comprehensive income | |||||
| (i) Items that will not be reclassified to profit or loss | |||||
| (a) Remeasurement of the defined employee benefit plans | 611 | (12) | (114) | 1,166 | (935) |
| (b) Changes in fair value gain/(loss) of FVOCI equity instruments | (20,784) | 18,030 | (18,025) | 18,939 | 1,368 |
| (c) Deferred tax on items that will not be reclassified to profit and loss account | 2,654 | (2,574) | 2,608 | (2,964) | (793) |
| (ii) Items that will be reclassified to profit or loss | |||||
| (a) Derivatives designated as cash flow hedge | 198 | 79 | (553) | 382 | (553) |
| (b) Tax impact on the above | (50) | (20) | 139 | (96) | 139 |
| (XII) Other comprehensive income (XII) | (17,171) | 15,503 | (15,945) | 17,427 | (774) |
| (XIII) Total comprehensive income (XI)+(XII) | (39,082) | 72,120 | (22,263) | 2,04,673 | 2,50,044 |
| (XIV) Net profit attributable to: | |||||
| Owners of parent | (22,128) | 56,597 | (6,477) | 1,86,931 | 2,50,164 |
| Non-controlling interests | 217 | 20 | 158 | 315 | 654 |
| (XV) Other comprehensive income/(loss) attributable to: | |||||
| Owners of parent | (17,179) | 15,506 | (15,942) | 17,411 | (769) |
| Non-controlling interests | 8 | (3) | (3) | 16 | (5) |
Consolidated Statement of Assets and Liabilities (Rs. in Lakhs)
| Particulars | As at 31 March 2026 (Audited) | As at 31 March 2025 (Audited) |
|---|---|---|
| I. ASSETS | ||
| 1 Financial assets | ||
| (a) Cash and cash equivalents | 5,16,121 | 6,60,023 |
| (b) Bank balance other than (a) above | 8,32,225 | 3,89,750 |
| (c) Derivative financial instruments | 10,112 | 1,437 |
| (d) Receivables | ||
| (I) Trade receivables | 4,05,811 | 2,40,360 |
| (II) Other receivables | 1,175 | 113 |
| (e) Loans | 13,74,434 | 10,45,032 |
| (f) Investments | 10,29,918 | 8,85,064 |
| (g) Other financial assets | 51,223 | 54,256 |
| Sub – total financial assets | 42,21,019 | 32,76,035 |
| 2 Non-financial assets | ||
| (a) Current tax assets (net) | 2,219 | 1,197 |
| (b) Deferred tax assets (net) | 6,691 | 7,065 |
| (c) Property, plant and equipment | 73,025 | 71,677 |
| (d) Capital work in progress | 11,514 | 11,463 |
| (e) Other Intangible assets | 3,842 | 3,710 |
| (f) Other non-financial assets | 28,460 | 27,563 |
| Sub – total non – financial assets | 1,25,751 | 1,22,675 |
| Total Assets | 43,46,770 | 33,98,710 |
| II. LIABILITIES AND EQUITY | ||
| 1 Financial liabilities | ||
| (a) Derivative financial instruments | 4,067 | – |
| (b) Payables | ||
| (I) Trade payables | ||
| (i) total outstanding dues of micro enterprises and small enterprises | 3,732 | 2,114 |
| (ii) total outstanding dues of creditor other than micro enterprises and small enterprises | 5,53,939 | 5,29,962 |
| (II) Other payables | ||
| (i) total outstanding dues of micro enterprises and small enterprises | – | – |
| (ii) total outstanding dues of creditor other than micro enterprises and small enterprises | – | – |
| (c) Debt securities | 15,47,888 | 10,25,697 |
| (d) Borrowings (Other than debt securities) | 5,77,623 | 4,47,464 |
| (e) Deposits | – | – |
| (f) Other financial liabilities | 2,85,310 | 2,03,575 |
| Sub – total financial liabilities | 29,72,559 | 22,08,812 |
| 2 Non – financial liabilities | ||
| (a) Current tax liabilities (net) | 5,208 | 5,222 |
| (b) Provisions | 12,232 | 9,676 |
| (c) Deferred tax liabilities (net) | 48,091 | 51,152 |
| (d) Other non – financial liabilities | 13,463 | 10,771 |
| Sub – total non – financial liabilities | 78,994 | 76,821 |
| 3 Equity | ||
| (a) Equity share capital | 6,019 | 5,993 |
| (b) Other equity | 12,82,793 | 11,01,940 |
| (c) Non-controlling interests | 6,405 | 5,144 |
| Sub – total equity | 12,95,217 | 11,13,077 |
| Total Liabilities and Equity | 43,46,770 | 33,98,710 |
Consolidated Statement of Cash Flows (Rs. in Lakhs)
| Particulars | For the year ended 31 March 2026 (Audited) | For the year ended 31 March 2025 (Audited) |
|---|---|---|
| A. Cash flow from operating activities | ||
| Profit before taxation | 2,46,504 | 3,22,626 |
| Adjustments for: | ||
| Impairment on financial instruments | 4,159 | (337) |
| Depreciation and amortisation expense | 11,067 | 9,876 |
| Bad debts written off | 2,545 | 1,206 |
| Provision for gratuity | 4,047 | 1,741 |
| Foreign currency translation reserve | 1,087 | 212 |
| Employee stock option expenditure | 7,646 | 5,876 |
| Profit from partnership gain | 940 | 0 |
| Net loss/(gain) on fair value change | 19,677 | (72,368) |
| Net loss/(gain) on sale of investment | (76,264) | (56,668) |
| Profit on sale of property, plant and equipment (Net) | (2) | (9) |
| Interest income | (37) | (49) |
| Dividend income | (2,197) | (1,001) |
| Interest expense pertaining to lease liability | 1,318 | 1,177 |
| Operating profit | 2,20,490 | 2,12,282 |
| Adjustment for working capital changes: | ||
| (Increase) / decrease in trade receivables | (1,69,225) | (49,414) |
| (Increase) / decrease in other receivables | (1,062) | (105) |
| (Increase) / decrease in other financial assets | 3,415 | (19,377) |
| (Increase) / decrease in other non financial assets | (897) | (3,516) |
| (Increase) / decrease in loans | (3,32,331) | (40,194) |
| Investment in Fixed deposit having maturity more than 3 months (net of maturity) | (4,42,470) | 2,87,730 |
| (Increase) / decrease in liquid investments | 19,854 | (24,997) |
| (Increase) / decrease in Derivative Financial Instruments | (4,607) | |
| Increase / (decrease) in trade payables | 25,594 | (24,296) |
| Increase / (decrease) in other financial liabilities | 1,38,116 | (1,58,148) |
| Increase / (decrease) in other non financial liabilities | 2,692 | (1,425) |
| Increase / (decrease) in provision | (324) | (1,597) |
| Cash (used in)/generated from operations | (5,40,755) | 1,76,943 |
| Direct taxes paid net | (66,315) | (55,469) |
| Net cash (used in)/generated from Operating activities (A) | (6,07,070) | 1,21,474 |
| B. Cash flow from investing activities | ||
| (Purchase)/sale of Property, plant and equipment | (7,128) | (16,490) |
| (Purchase)/sale of capital work in progress | (51) | (10,059) |
| (Purchase)/sale of other Intangible assets | (1,722) | (1,876) |
| Purchase of Investments | (9,94,129) | (1,87,752) |
| Sale of Investments | 9,04,947 | 1,07,399 |
| Interest received | 37 | 49 |
| Dividend received | 2,197 | 1,001 |
| Net cash (used in)/generated from Investing activities (B) | (95,849) | (1,07,728) |
| C. Cash flow from financing activities | ||
| Issue of Share capital including Securities premium | 3,765 | 7,171 |
| Proceeds from/(Repayment) of debentures | 2,01,252 | 43,173 |
| Proceeds from/(Repayment) of commercial paper | 3,20,938 | 1,31,472 |
| Proceeds from/(Repayment) of other borrowings | 1,30,159 | (76,045) |
| Dividend paid | (36,068) | (29,981) |
| Interest paid on lease liabilities | (1,318) | (1,177) |
| Payment of lease liabilities | (3,695) | (3,006) |
| Investment by/(purchase) from Non controlling interest | 366 | 2,894 |
| Net cash (used in)/generated from Financing activities (C) | 6,15,399 | 74,500 |
| Net increase/(decrease) in cash and cash equivalents during the year (A+B+C) | (87,520) | 88,246 |
Consolidated Statement of Cash Flows (Cash and cash equivalents reconciliation) (Rs. in Lakhs)
| Particulars | For the year ended 31 March 2026 (Audited) | For the year ended 31 March 2025 (Audited) |
|---|---|---|
| Cash on hand | 282 | 403 |
| Schedule bank – In Current accounts | 1,86,784 | 2,71,655 |
| Cheques in hand | 38,489 | |
| Fixed Deposit with original maturity within 3 months | 4,34,468 | 2,56,510 |
| Cash and cash equivalents as at beginning of the period | 6,60,023 | 5,28,567 |
| Less: Book and Bank overdraft | (58,304) | (15,094) |
| Cash and cash equivalents as at beginning of the period (Post Bank & book overdraft) | 6,01,719 | 5,13,473 |
| Cash on hand | 269 | 282 |
| Schedule bank – In |