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← CockpitCompetitor Analysis › MOTILALOFS.NS Motilal Oswal Financial ServicesOpen in the cockpit ↗

Motilal Oswal Financial ServicesMOTILALOFS.NSCompetitor analysis, valuation and peers

India · INR·IT›Investment Managers

Indian financial services group offering stock broking, wealth management, asset management and investment banking.

≈ India's smaller Raymond James/Charles Schwab hybridMomentum leader 90
Mkt cap
$7.03B
US dollars, full cap
Free float
23%
of shares outstanding
$/day
$12.2M
20-day average traded
Fwd P/E
22.1×
forward earnings
ROIC−WACC
n/a
WACC 10.5%
Hurdle
n/a
no reverse DCF
Next earnings
83 days
28 Jan 2027
Close · INR₹1,102
1D+0.6%
1W+17.0%
1M+3.2%
3M+26.1%
6M+23.6%
YTD+28.8%
1Y+7.5%
ATR %4.0%
Beta1.87
52w lowhigh0.3% off high

What Motilal Oswal Financial Services does

Indian financial services group offering stock broking, wealth management, asset management and investment banking.

Earns brokerage commissions on client trades, fees on assets managed in its mutual funds and portfolio services, advisory fees from companies, and a smaller lending and home-finance business. Trading volumes and stock-market levels therefore drive it. The founders run it and hold a controlling stake.

In one line: India's smaller Raymond James/Charles Schwab hybrid.

Products and services

  • Stock broking
  • Asset management (mutual funds/PMS)
  • Wealth management
  • Investment banking/institutional equities

Customers

  • Retail investors/traders
  • High-net-worth clients
  • Institutional clients

Where it sits in the supply chain

  • Financials
  • Diversified financial services
  • Broking & wealth management - India

What could go right

  • Rising retail equity participation in India
  • Wealth management AUM growth

What could go wrong

  • Equity market cyclicality affecting broking revenue
  • Discount-broker price competition

Moat: narrow (brand, distribution). A well-known research-driven brand with a broad retail and wealth-management client base built over decades.

Headquarters: Mumbai, India · Founded: 1987 · Employees: 12,459

Named competitors

Motilal Oswal Financial Services at a glance

Size Motilal Oswal Financial Services (MOTILALOFS.NS) is an India Information Technology company (Investment Managers) with a market value of $7.03B, the 165th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,102 on 6 Nov 2026.

Performance Over six months the shares gained 23.6%, against +6.0% for the median peer and 0.0% for the India market (cap-weighted) — 4th highest of 21 in its peer set.

Growth Revenue grew 44.4% over the last twelve months (peer median +22.9%); the operating margin is 31.0% (peer median 15.8%).

Valuation It trades at 22.1× forward earnings against a peer median of 28.2× (6th cheapest of 20).

Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).

Relative performance

10011012011 May 202611 Aug 20266 Nov 2026MOTILALOFS.NS 125Peer median 105
Six months, rebased to 100: Motilal Oswal Financial Services against the median of its 20 peers (local-currency closes).

Motilal Oswal Financial Services financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹113B₹96.1B₹76.9B₹59.2B₹43.3B
Revenue growth—+25%+30%+36%—
Gross profit₹63.9B₹67.0B₹62.1B₹46.4B₹34.2B
EBITDA₹36.1B₹39.4B₹46.1B₹41.6B₹19.2B
Net income₹27.0B₹18.7B₹25.0B₹24.4B₹9.32B
Free cash flown/a₹14.3B-₹12.7B₹28.3B₹21.0B
Capital expendituren/a₹890M₹2.84B₹1.51B₹1.68B
Total debt₹268B₹214B₹149B₹138B₹103B

Quarterly statements and history in the cockpit →

Motilal Oswal Financial Services competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%+40%+60%-20%0%+20%WAAREEENERNAUKRIOFSSMPHASISCOFORGEPOLICYBZRPERSISTENTPREMIERENESTLTECHLTMCRISILHEXTTATATECHABSLAMCTECHMTATAELXSIWIPRONETWEBAFFLEMOTILALOFS.NS6-month return →1-month return →
Up and to the right = strong over both horizons. Motilal Oswal Financial Services is the large dot.

Fundamentals: revenue growth against valuation

0%+50%+100%+150%20×40×60×WAAREEENERNAUKRIOFSSMPHASISCOFORGEPOLICYBZRPERSISTENTPREMIERENESTLTECHCRISILTATATECHABSLAMCTATAELXSIWIPRONETWEBMOTILALOFS.NSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Motilal Oswal Financial Services is the large dot.

Motilal Oswal Financial Services competitors and peer comparison

Head to head with its named competitors (MOTILALOFS.NS vs ANGELONE.NS vs NUVAMA.NS vs 360ONE.NS)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Motilal Oswal Financial Services MOTILALOFS.NS$7.03B+24%+44%31%22.1×n/a
Angel One ANGELONE.NS$3.20B+3%+21%28%23.1×n/a
Nuvama Wealth Management NUVAMA.NS$3.61B+25%+13%29%26.2×n/a
360 One Wam 360ONE.NS$4.95B+3%+25%33%35.1×n/a
IIFL Capital Services IIFLCAPS.NS$1.17B0%+8%25%n/an/a
JM Financial JMFINANCIL.NS$1.13B-22%+1%32%8.0×n/a
Edelweiss Financial Services EDELWEISS.NS$1.28B+6%+16%11%n/an/a
Anand Rathi Wealth ANANDRATHI.NS$4.18B+31%+35%41%90.5×n/a

How Motilal Oswal Financial Services compares with its peers

Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Motilal Oswal Financial Services against its 20 peers (data as of 6 Nov 2026)
MeasureMOTILALOFS.NSPeer medianRank in peer set
1-month return+3.2%-1.3%9th highest of 21
6-month return+23.6%+6.0%4th highest of 21
Distance from 52-week high-0.3%-23.4%highest of 21
Revenue growth (TTM)+44.4%+22.9%4th highest of 21
Operating margin31.0%15.8%4th highest of 21
Forward P/E22.1×28.2×6th cheapest of 20

Peer table

Peer set: Sector in the same market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Motilal Oswal Financial Services MOTILALOFS.NSIndia$7.03B+24%+44%31%22.1×n/an/a
WAAREE Energies WAAREEENER.NSIndia$7.41B-24%+75%16%17.3×n/an/a
Info Edge India NAUKRI.NSIndia$8.18B+21%+13%34%59.6×51.8%+23.8%
Oracle Financial Services Software OFSS.NSIndia$9.43B+8%+28%52%22.7×22.0%+9.0%
Mphasis MPHASIS.NSIndia$5.15B+15%+14%15%22.4×28.7%+10.6%
Coforge COFORGE.NSIndia$9.71B+62%+41%16%35.2×34.6%+28.6%
PB Fintech POLICYBZR.NSIndia$4.74B-43%+37%7%41.0×n/an/a
Persistent Systems PERSISTENT.NSIndia$10.6B+21%+27%16%43.9×37.4%+28.6%
Premier Energies PREMIERENE.NSIndia$4.28B-13%+32%25%19.7×n/an/a
Sterlite Technologies STLTECH.NSIndia$3.91B+101%+63%17%28.2×22.6%-0.4%
LTM LTM.NSIndia$13.6B+2%+15%16%21.6×23.8%+27.9%
Crisil CRISIL.NSIndia$3.40B+6%+24%26%35.0×n/an/a
Hexaware Technologies HEXT.NSIndia$3.26B+9%+13%12%21.7×15.4%+16.5%
Tata Technologies TATATECH.NSIndia$2.86B+6%+22%13%34.9×28.3%+18.3%
Aditya Birla Sun Life Amc ABSLAMC.NSIndia$2.68B-19%+4%60%23.9×n/an/a
Tech Mahindra TECHM.NSIndia$19.0B+26%+14%14%23.9×20.3%+8.5%
Urban URBANCO.NSIndia$2.58B+8%+36%-26%n/an/an/a
Tata Elxsi TATAELXSI.NSIndia$2.52B-10%+10%20%32.7×25.3%+15.5%
Wipro WIPRO.NSIndia$20.7B0%+8%16%14.9×9.0%+8.4%
Netweb Technologies India NETWEB.NSIndia$2.37B-12%+175%13%55.9×46.1%+72.5%
Affle 3i AFFLE.NSIndia$2.36B+6%+20%18%40.0×33.0%+39.3%

Questions

Who are Motilal Oswal Financial Services's main competitors?
Named competitors: ICICI Securities (private or unlisted), Angel One (ANGELONE.NS), Nuvama Wealth Management (NUVAMA.NS), 360 ONE WAM (360ONE.NS), IIFL Capital Services (IIFLCAPS.NS), JM Financial (JMFINANCIL.NS). The cockpit's measured peer set (sector in the same market, nearest in size) also includes WAAREE Energies (WAAREEENER.NS), Info Edge India (NAUKRI.NS), Oracle Financial Services Software (OFSS.NS), Mphasis (MPHASIS.NS), Coforge (COFORGE.NS), PB Fintech (POLICYBZR.NS).
Is Motilal Oswal Financial Services expensive compared with its peers?
On forward p/e it trades at 22.1× against a peer median of 28.2×, 6th cheapest of 20 in its peer set.
How has Motilal Oswal Financial Services stock performed?
Over six months to 6 Nov 2026 the shares returned +23.6% against +6.0% for the median peer; over one year +7.5%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.