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Motilal Oswal Financial Services Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹723.60Overvalued by 13.55%vs CMP ₹837.00

P/E (26.9) × ROE (15.6%) × BV (₹214.00) × DY (0.72%)

₹488.29Overvalued by 41.66%vs CMP ₹837.00
MoS: -71.4% (Negative)Confidence: 54/100 (Moderate)Models: 1 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹788.5225%Fair (-5.8%)
Graham NumberEarnings₹403.1818%Over (-51.8%)
DCFCash Flow₹184.4115%Over (-78%)
Net Asset ValueAssets₹214.528%Over (-74.4%)
EV/EBITDAEnterprise₹264.7410%Over (-68.4%)
Earnings YieldEarnings₹337.608%Over (-59.7%)
ROCE CapitalReturns₹1,119.5610%Under (+33.8%)
Revenue MultipleRevenue₹138.826%Over (-83.4%)
Consensus (8 models)₹488.29100%Overvalued
Key Drivers: Wide model spread (₹139–₹1,120) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 9.0%

*Investments are subject to market risks

Analyst Summary

Motilal Oswal Financial Services Ltd operates in the Finance & Investments segment, NSE: MOTILALOFS | BSE: 532892, current market price is ₹837.00, market cap is 50,286 Cr.. At a glance, stock P/E is 26.9, ROE is 15.6 %, ROCE is 12.6 %, book value is 214, dividend yield is 0.72 %. The latest intrinsic value estimate is ₹488.29, around 41.7% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹8,340 Cr versus the prior period change of 17.4%, while latest net profit is about ₹2,508 Cr with a prior-period change of 2.5%. The 52-week range shown on this page is 1,097/615, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisMotilal Oswal Financial Services Ltd. is a Public Limited Listed company incorporated on 18/05/2005 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification…

This summary is generated from the stock page data available for Motilal Oswal Financial Services Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

61
Motilal Oswal Financial Services Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health61/100 · Moderate
ROCE 12.6% GoodROE 15.6% GoodD/E 1.28 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.92% (6mo) Slight increaseDII holding up 0.71% MF buyingPromoter holding at 67.6% Stable
Earnings Quality65/100 · Strong
OPM expanding (47% → 56%) Improving
Quarterly Momentum25/100 · Weak
Revenue (4Q): -15% YoY DecliningProfit (4Q): -38% YoY Declining
Industry Rank90/100 · Strong
P/E 26.9 vs industry 183.6 Cheaper than peersROCE 12.6% vs industry 10.4% Above peers3Y sales CAGR: 25% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 12:38 am

Market Cap 50,286 Cr.
Current Price 837
Intrinsic Value₹488.29
High / Low 1,097/615
Stock P/E26.9
Book Value 214
Dividend Yield0.72 %
ROCE12.6 %
ROE15.6 %
Face Value 1.00
PEG Ratio3.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Motilal Oswal Financial Services Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Motilal Oswal Financial Services Ltd 50,286 Cr. 837 1,097/61526.9 2140.72 %12.6 %15.6 % 1.00
SBI Cards & Payment Services Ltd 61,393 Cr. 645 1,027/61528.3 1650.39 %10.1 %14.7 % 10.0
Cholamandalam Financial Holdings Ltd 31,401 Cr. 1,673 2,299/1,30513.3 7280.08 %10.6 %19.1 % 1.00
L&T Finance Holdings Ltd 71,580 Cr. 286 329/15623.8 1120.96 %8.38 %11.2 % 10.0
Angel One Ltd 28,028 Cr. 308 330/20930.6 67.21.56 %14.8 %15.6 % 1.00
Industry Average19,136.33 Cr1,281.65183.603,403.850.43%10.44%24.30%6.58

All Competitor Stocks of Motilal Oswal Financial Services Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,0761,0271,5021,6551,7912,1542,3142,8411,9931,1902,7371,8492,112
Expenses 5885846647407039169261,0259329101,0181,0091,006
Operating Profit 4884448379151,0891,2381,3881,8161,0612801,7208401,105
OPM % 45%43%56%55%61%57%60%64%53%24%63%45%52%
Other Income 56321618191526187118
Interest 169190216241262302327354319298295317336
Depreciation 17131717242422232726262829
Profit before tax 3072476366588099301,0591,454741-271,406506748
Tax % 26%33%17%19%18%22%17%23%24%137%18%28%24%
Net Profit 2271655285326617258841,122566-631,163363566
EPS in Rs 3.832.788.908.9611.1112.1314.7718.719.42-1.0819.386.049.42

Last Updated: February 4, 2026, 11:03 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4677721,0801,9232,7512,4502,3583,6264,2984,1787,1068,3407,888
Expenses 3265166479151,3571,5431,5461,6102,1782,3013,0243,7943,943
Operating Profit 1412564321,0081,3949078122,0162,1201,8774,0824,5463,945
OPM % 30%33%40%52%51%37%34%56%49%45%57%55%50%
Other Income -5411-271128-801819717845
Interest 3311744425285174944304755961,0391,2981,247
Depreciation 243135333724404848588399109
Profit before tax 591962255068293782851,4581,6161,2423,0323,2262,633
Tax % 30%27%27%28%25%25%24%18%19%25%19%22%
Net Profit 421451723716322981901,2651,3129352,4462,5082,028
EPS in Rs 0.722.562.976.2310.725.043.1021.4921.9715.7440.9641.7433.76
Dividend Payout % 70%29%29%22%20%42%32%12%11%16%9%12%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)245.24%18.62%115.70%70.35%-52.85%-36.24%565.79%3.72%-28.73%161.60%2.53%
Change in YoY Net Profit Growth (%)0.00%-226.62%97.08%-45.35%-123.20%16.61%602.03%-562.07%-32.45%190.34%-159.07%

Motilal Oswal Financial Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:27%
5 Years:29%
3 Years:25%
TTM:11%
Compounded Profit Growth
10 Years:33%
5 Years:69%
3 Years:24%
TTM:-1%
Stock Price CAGR
10 Years:28%
5 Years:39%
3 Years:65%
1 Year:12%
Return on Equity
10 Years:23%
5 Years:26%
3 Years:25%
Last Year:25%

Last Updated: September 5, 2025, 11:20 am

Balance Sheet

Last Updated: May 4, 2026, 5:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 141414151515151515156060
Reserves 1,2811,4221,7722,8713,0393,0714,4475,6596,2378,71711,01912,828
Borrowings 7952,5895,0675,3235,1584,6275,6936,15210,27813,78714,77421,255
Other Liabilities 8551,0641,5862,2022,1492,3703,8875,0336,4199,2528,0649,324
Total Liabilities 2,9455,0908,43910,41110,36010,08414,04116,86022,94931,77133,91643,468
Fixed Assets 300292294300302333350357466603768769
CWIP 0000000000101115
Investments 8141,2311,7672,8072,6863,0883,9224,6854,7876,5018,85110,299
Other Assets 1,8313,5666,3787,3047,3726,6629,76911,81817,69624,66724,19732,285
Total Assets 2,9455,0908,43910,41110,36010,08414,04116,86022,94931,77133,91643,468

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + -98-1,242-1,980248195952-1391,011-3,058-3501,215-6,071
Cash from Investing Activity + -606-380-314-15714-353-273-447-274-247-1,077-958
Cash from Financing Activity + 7471,7182,420-98-141-1298612823,7703,3067456,154
Net Cash Flow 4496125-7684704498454392,709882-875
Free Cash Flow -124-1,277-2,032207168882-199956-3,212-495930-6,160
CFO/OP -25%-274%-183%31%41%137%0%58%-148%2%39%-140%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow141.00-539.00430.00-4.00-4.00902.00808.00-3.00-4.00-9.00-9.00-10.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 37727924023913822611592859099105
Inventory Days
Days Payable
Cash Conversion Cycle 37727924023913822611592859099105
Working Capital Days 313-76-278-209-241-103-369-206-279-402-327-189
ROCE %10%14%13%18%18%11%10%22%19%13%21%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 69.68%69.66%69.53%69.39%69.16%69.04%68.86%68.71%68.45%67.80%67.69%67.62%
FIIs 6.47%6.41%6.29%6.48%6.73%6.46%6.34%5.88%6.01%7.29%7.52%6.93%
DIIs 6.28%6.11%6.29%6.76%6.94%6.06%6.41%6.39%5.71%5.44%5.84%6.42%
Public 17.58%17.84%17.90%17.36%17.16%18.42%18.39%19.01%19.83%19.46%18.96%19.02%
No. of Shareholders 69,66368,94463,58361,73267,2311,35,9841,63,5512,26,7542,87,3312,60,2862,41,2972,38,488

Shareholding Pattern Chart

No. of Shareholders

Motilal Oswal Financial Services Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Large & Midcap Fund 5,400,000 1.36 406.925,200,0002026-02-23 03:40:463.85%
Tata Value Fund 4,158,000 3.55 313.333,933,0002026-02-23 03:40:465.72%
HSBC Small Cap Fund 2,821,718 1.41 212.63N/AN/AN/A
HDFC Large and Mid Cap Fund 1,856,728 0.5 139.91N/AN/AN/A
Sundaram Mid Cap Fund 1,817,907 1.06 136.991,767,9072026-02-23 03:40:462.83%
Tata ELSS Fund 1,246,155 2.06 93.9906,1552026-02-23 03:40:4737.52%
Helios Flexi Cap Fund 1,159,078 1.47 87.34514,6522025-12-08 00:18:30125.22%
HSBC Flexi Cap Fund 1,083,100 1.53 81.62960,1002025-12-15 03:34:0612.81%
Tata Banking and Financial Services Fund 915,000 2.15 68.95N/AN/AN/A
HSBC Aggressive Hybrid Fund 810,900 1.13 61.11N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 41.83164.6362.8989.1484.65
Diluted EPS (Rs.) 41.00162.9162.8988.3882.71
Cash EPS (Rs.) 43.50169.6867.0291.1584.92
Book Value[Excl.RevalReserv]/Share (Rs.) 184.84588.49424.83382.34306.12
Book Value[Incl.RevalReserv]/Share (Rs.) 184.84588.49424.83382.34306.12
Revenue From Operations / Share (Rs.) 139.15474.35282.43288.18247.31
PBDIT / Share (Rs.) 77.15277.09128.23143.68137.95
PBIT / Share (Rs.) 75.50271.54124.28140.44134.73
PBT / Share (Rs.) 53.83203.4883.99108.3799.37
Net Profit / Share (Rs.) 41.85164.1463.0787.9181.70
NP After MI And SOA / Share (Rs.) 41.74163.8362.9987.8584.96
PBDIT Margin (%) 55.4458.4145.4049.8555.78
PBIT Margin (%) 54.2557.2444.0048.7354.47
PBT Margin (%) 38.6842.8929.7337.6040.17
Net Profit Margin (%) 30.0734.6022.3330.5033.03
NP After MI And SOA Margin (%) 29.9934.5322.3030.4834.35
Return on Networth / Equity (%) 22.5827.9514.9023.0828.10
Return on Capital Employeed (%) 20.3822.5713.3220.5223.64
Return On Assets (%) 7.367.664.047.738.82
Long Term Debt / Equity (X) 0.920.971.110.690.78
Total Debt / Equity (X) 1.331.581.641.081.28
Asset Turnover Ratio (%) 0.250.250.170.200.22
Current Ratio (X) 2.782.222.412.422.35
Quick Ratio (X) 2.782.222.412.422.35
Dividend Payout Ratio (NP) (%) 11.9810.3415.916.625.73
Dividend Payout Ratio (CP) (%) 11.5310.0014.976.385.52
Earning Retention Ratio (%) 88.0289.6684.0993.3894.27
Cash Earning Retention Ratio (%) 88.4790.0085.0393.6294.48
Interest Coverage Ratio (X) 3.564.073.184.484.70
Interest Coverage Ratio (Post Tax) (X) 2.933.412.573.743.99
Enterprise Value (Cr.) 41181.2726560.1510493.5513829.2611431.51
EV / Net Operating Revenue (X) 4.943.762.513.223.15
EV / EBITDA (X) 8.916.435.536.465.65
MarketCap / Net Operating Revenue (X) 4.423.512.163.022.53
Retention Ratios (%) 88.0189.6584.0893.3794.26
Price / BV (X) 3.332.841.442.282.07
Price / Net Operating Revenue (X) 4.423.512.163.022.53
EarningsYield 0.060.090.100.100.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Motilal Oswal Financial Services Ltd. is a Public Limited Listed company incorporated on 18/05/2005 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L67190MH2005PLC153397 and registration number is 153397. Currently Company is involved in the business activities of Security and commodity contracts brokerage. Company's Total Operating Revenue is Rs. 4759.04 Cr. and Equity Capital is Rs. 60.19 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Finance & InvestmentsMotilal Oswal Tower, Rahimtullah Sayani Road, Mumbai Maharashtra 400025Contact not found
Management
NamePosition Held
Mr. Raamdeo AgarawalNon Executive Chairman
Mr. Motilal OswalManaging Director & CEO
Mr. Navin AgarwalManaging Director
Mr. Ajay Kumar MenonWholeTime Director & CEO
Mr. Rajat RajgarhiaWholeTime Director & CEO
Mr. Chandrashekhar KarnikIndependent Director
Mr. Pankaj BhansaliIndependent Director
Mr. C N MurthyIndependent Director
Ms. Divya MomayaIndependent Director
Ms. Swanubhuti JainIndependent Director

FAQ

What is the intrinsic value of Motilal Oswal Financial Services Ltd and is it undervalued?

As of 13 May 2026, Motilal Oswal Financial Services Ltd's intrinsic value is ₹488.29, which is 41.66% lower than the current market price of ₹837.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.6 %), book value (₹214), dividend yield (0.72 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Motilal Oswal Financial Services Ltd?

Motilal Oswal Financial Services Ltd is trading at ₹837.00 as of 13 May 2026, with a FY2026-2027 high of ₹1,097 and low of ₹615. The stock is currently in the middle of its 52-week range. Market cap stands at ₹50,286 Cr..

How does Motilal Oswal Financial Services Ltd's P/E ratio compare to its industry?

Motilal Oswal Financial Services Ltd has a P/E ratio of 26.9, which is below the industry average of 183.60. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Motilal Oswal Financial Services Ltd financially healthy?

Key indicators for Motilal Oswal Financial Services Ltd: ROCE of 12.6 % is moderate; ROE of 15.6 % shows strong shareholder returns. Dividend yield is 0.72 %.

Is Motilal Oswal Financial Services Ltd profitable and how is the profit trend?

Motilal Oswal Financial Services Ltd reported a net profit of ₹2,508 Cr in Mar 2025 on revenue of ₹8,340 Cr. Compared to ₹1,312 Cr in Mar 2022, the net profit shows an improving trend.

Does Motilal Oswal Financial Services Ltd pay dividends?

Motilal Oswal Financial Services Ltd has a dividend yield of 0.72 % at the current price of ₹837.00. The company pays dividends, though the yield is modest.

Last Updated: May 5, 2026, 12:38 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532892 | NSE: MOTILALOFS
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Motilal Oswal Financial Services Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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