Mumbai, October 29, 2026: Motilal Oswal Financial Services Ltd. (MOFSL) has announced impressive financial results for the second quarter and half-year ending September 30, 2026. The company reported a 29% year-on-year increase in Operating Profit After Tax (PAT) for the second quarter of FY27, reaching ₹718 crore, driven by robust performance in its Asset Management segment. The total PAT for the first half of FY27, including Other Comprehensive Income, rose by 51% year-on-year to ₹2,583 crore, marking the highest half-yearly profit in the company’s history.
The company’s Asset Management business emerged as a significant contributor, with PAT increasing by 69% year-on-year to ₹304 crore, accounting for 43% of the Operating PAT. The total Assets Under Management (AUM) grew 26% year-on-year to approximately ₹2.23 lakh crore. The company’s Annual Recurring Revenue (ARR) assets increased to ₹3.2 lakh crore, up 26% year-on-year, and ARR revenue rose by 27% year-on-year to ₹1,182 crore. This growth in ARR has improved the quality and predictability of the company’s earnings, with ARR now comprising 66% of the revenue.
In addition to its financial performance, Motilal Oswal has secured a custodian licence from the Securities and Exchange Board of India (SEBI), completing its institutional services value chain. This approval allows the company to offer safekeeping of securities, trade settlement, and regulatory reporting for institutional clients, including alternative investment funds, portfolio management services, and mutual funds. The company plans to commence these operations in the fourth quarter of FY27, pending operational readiness.
The company has also received an AA+ / Stable credit rating from all three leading rating agencies, following an upgrade by India Ratings. This reflects the strength of Motilal Oswal’s franchise and its sustainable growth model. Analysts note that the company’s strategic focus on recurring revenue streams and asset management has positioned it well for continued growth. Despite some moderation in Total PAT due to lower mark-to-market gains on the treasury book compared to the previous quarter, the company’s Operating PAT, excluding treasury, grew 18% quarter-on-quarter, indicating robust underlying business performance.
