Motilal Oswal Financial Services Ltd on Wednesday (April 29) reported a 25% year-on-year rise in operating profit at ₹661 crore for the fourth quarter, compared with ₹527 crore in the corresponding period last year. This is led by strong growth in the asset & private wealth management (PWM) business.
The asset & private wealth management business reported an operating profit after tax growth of 48% to ₹338 crore on a year-on-year basis.
In asset management (including alternates), profit after tax rose 63% year-on-year to ₹249 crore in Q4 and 55% to ₹798 crore in FY26. Total AUM increased 32% year-on-year to ₹1.76 lakh crore, driven by mutual fund AUM growth of 31% and private alternates AUM growth of 104%.
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FY26 net mutual fund flows’ market share stood at 6.6% versus AUM market share of 2.7%. SIP inflows rose 78% year-on-year to ₹16,479 crore with a 4.7% market share. The company closed IBEF Fund V at ₹8,350 crore and completed the first close of its private credit fund in January 2026 at ₹1,700 crore, targeting a total raise of ₹3,000 crore.
In private wealth management, Q4 PAT grew 18% year-on-year to ₹88 crore, with net flows rising 66% to ₹5,535 crore. FY26 PAT rose 15% to ₹368 crore, while net flows increased 41% to ₹20,154 crore. AUM rose 36% year-on-year to ₹1.97 lakh crore, supported by family acquisitions and higher relationship manager productivity. FY26 ARR revenue grew 32% year-on-year.
Wealth management reported Q4 PAT growth of 7% year-on-year to ₹204 crore, while FY26 PAT declined 7% to ₹727 crore. Brokerage revenue increased 33% year-on-year in Q4. Overall, ADTO market share, including commodities, stood at 9.2% in Q4. The distribution book rose 41% year-on-year to ₹40,662 crore, while the loan book increased 32% to ₹6,094 crore.
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Capital markets PAT rose 12% year-on-year to ₹75 crore in Q4 and 30% to ₹336 crore in FY26. The company ranked No.1 in QIP and No.2 in IPO league tables for FY26 and covered 366 companies in institutional research, serving over 900 clients.
Housing finance PAT grew 61% year-on-year to ₹59 crore in Q4 and 22% to ₹159 crore in FY26. AUM increased 19% year-on-year to ₹5,829 crore. During the quarter, Motilal Oswal Housing Finance raised $100 million from the Asian Development Bank.
The treasury book grew 12% year-on-year to ₹9,403 crore, delivering around 5% alpha for FY26. The book expanded at a 40% CAGR driven by strong IRRs and reinvestment of operating profits. Total PAT, including OCI for FY26, stood at ₹2,043 crore lower than operating PAT due to mark-to-market accounting of the treasury book.
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Shares of Motilal Oswal Financial Services Ltd ended at ₹785.45, up by ₹2.70, or 0.34%, on the BSE today, April 29.
