Interim report
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October 29, 2026 To, BSE Limited P. J. Towers, Dalal Street, Fort, Mumbai - 400001 Security Code: 532892 National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400051 Symbol: MOTILALOFS Sub.: Outcome of the Board Meeting Dear Sir/Madam, Pursuant to the provisions of Regulation 30, 33 & 52 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) (as amended from time to time), we hereby inform the Exchange s that the Board of Directors (“the Board”) of the Company at its Meeting held on Thursday, October 29, 2026 has, inter-alia, considered and approved the following matters: 1) Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter and half year ended September 30, 2026. Following documents are enclosed in this regard: i. The Unaudited Financial Results (Consolidated and Standalone) along with the Limited Review Reports issued by the Statutory Auditors for the quarter and half year ended September 30, 2026. ii. The disclosure of line items required under SEBI Master Circular dated July 11, 2025 (as amended from time to time) in respect of Commercial Papers and pursuant to the provisions of Regulation 52(4) of the Listing Regulations with regard to Non-Convertible Debt Securities (“NCDs”) are included in the Standalone Financial Results of the Company. iii. The Statement of utilization of issue proceeds and Statement of deviation / variation in use of issue proceeds of NCDs from the objects mentioned in the offer documents pursuant to the provisions of Regulation 52(7) & 52(7A) of the Listing Regulations, for the quarter ended September 30, 2026, is enclosed herewith as Annexure A. iv. The details of Security Cover are included in the Standalone Financial Results pursuant to the provisions of Regulation 54(3) of the Listing Regulations . All NCDs issued by the Company and remaining outstanding are fully secured. Further, the Company has maintained Security Cover as per the terms & conditions of the Offer Documents for the quarter ended September 30, 2026. 2) Designation of Mr. Janak Dalal, Managing Director & Chief Executive Officer of Motilal Oswal Custodial Services Private Limited as Senior Management Personnel (“SMP”) of the Company w.e.f. October 29, 2026.
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The requisite details of Mr. Dalal in terms of the SEBI Master Circular dated January 30, 2026 are provided in Annexure B. 3) Issuance of Non -Convertible Debentures (“NCDs") not exceeding Rs. 3000,00,00,000/- (Rupees Three Thousand Crore Only) by way of Public Issue/Private Placement in one or more series/tranches. 4) Press Release on the Financial Performance of the Company for the quarter and half year ended September 30, 2026. 5) Presentation to be made to Investor(s)/Analyst(s) at Earning Conference Call on Friday, October 30 , 2026 to discuss Q2/H1 FY 202 6-27 Financial Performance of the Company. The Board Meeting commenced at 02:45 p.m. and concluded at 04:45 p.m. We request you to take the above on record. Thanking you, Yours faithfully, For Motilal Oswal Financial Services Limited Kailash Purohit Company Secretary & Compliance Officer Encl.: As above
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Annexure B Designation of Mr. Janak Dalal as Senior Management Personnel (“SMP”): Sr. No. Particulars Information 1. Name of SMP Mr. Janak Dalal 2. Reason for change (appointment/ cessation) Based on the recommendation of the Nomination and Remuneration Committee (“NRC”) , the Board has approved the designation of Mr. Janak Dalal, Managing Director & Chief Executive Officer of Motilal Oswal Custodial Services Private Limited as Senior Management Personnel (“SMP”) of the Company. 3. Date of appointment/ cessation and term of appointment Designated as SMP w.e.f. October 29, 2026 on the terms & conditions as recommended by the NRC and approved by the Board, from time to time. 4. Brief profile: Mr. Janak Dalal holds an MBA in Finance from the University of Hartford, Connecticut, USA, and has nearly three decades of global experience in custody, corporate banking, prime brokerage and investment banking. Prior to joining the aforesaid subsidiary, he was associated with Deutsche Bank for over 18 years, where he held various positions. In his last role, he was responsible for the Securities Services (Custody) business of Deutsche Bank in India and Sri Lanka. He led a team servicing domestic clients including mu tual funds, alternative investment funds, public sector undertakings and portfolio management services, as well as international clients including foreign portfolio investors, foreign direct investors and global custodians. Prior to Deutsche Bank, Mr. Dalal held positions with reputed organisations, including SS&C Fund Services and American Skandia (Prudential Annuities) in Connecticut, USA. 5. Disclosure of relationships between Directors (in case of appointment of a Director) Not applicable
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Motilal Oswal Financial Services Ltd. | Q2 & H1FY27 Results | Page 1 PRESS RELEASE Motilal Oswal Financial Services reports 29% YoY growth in Operating PAT for Q2FY27, led by 69% growth in Asset Management Highest-ever half-yearly Total PAT of ₹2,583 Cr, up 51% YoY | Annual Recurring Revenue (ARR) share rises to 66% Mumbai, October 29, 2026: Motilal Oswal Financial Services Ltd. (MOFSL) today announced its results for the quarter and half year ended September 30, 2026. Operating PAT grew 29% YoY to ₹7 18 Cr in Q2FY27, led by strong growth in the Asset Management busine ss. Total PAT for H1FY27, including Other Comprehensive Income, rose 5 1% YoY to ₹2, 583 Cr, the highest -ever half -yearly profit in the Company's history. ARR assets grew to ₹3.2 Lakh Cr, up 26% YoY, and ARR revenue grew to ₹1,182Cr, up 27% YoY. Sequentially, every business segment delivered higher revenue and profitability, with net operating revenue up 14% and Operating PAT up 18% QoQ. During Q2, Motilal Oswal group secures custodian licence from SEBI, completes institutional services val ue chain. This approval places the group among a small set of institutions authorised to offer safekeeping of securities, trade settlement, corporate action processing, and regulatory reporting of institutional clients, including, alternative investment funds, portfolio management services, mutual funds, insurance companies and pension funds, amongst others. The company will commence operations in Q 4FY27, subject to the completion of operational readiness requirements. Q2FY27 at a glance • Operating PAT ₹718 Cr, up 29% YoY and 18% QoQ; H1FY27 Operating PAT ₹1,327 Cr, up 22% YoY • Highest-ever half-yearly Total PAT ₹2,583 Cr, up 51% YoY (including OCI) • Asset Management PAT ₹304 Cr, up 69% YoY — now the largest contributor at 43% of Operating PAT • ARR share of revenue rises to 66%, improving the quality and predictability of earnings • Credit rating AA+ / Stable from all three leading rating agencies following India Ratings' upgrade • Received approval from SEBI to act as a Custodian of Securities Segmental Operating PAT Particulars (₹ Cr) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1FY27 H1FY26 YoY Asset & Private Wealth Mgmt. 416 290 43% 335 24% 751 520 44% Wealth Management 175 170 3% 161 8% 336 343 (2%) Capital Markets 85 89 (5%) 76 12% 161 191 (16%) Housing Finance 36 34 7% 32 12% 69 58 19% Operating PAT* 718 554 29% 609 18% 1,327 1,088 22% Total PAT (incl. OCI) 1,070 285 3.8x 1,513 (29%) 2,583 1,715 51% *After inter-company adjustments. YoY: year-on-year; QoQ: quarter-on-quarter. Note: The sequential moderation in Total PAT reflects lower mark-to-market gains on the treasury book compared with an exceptionally strong Q1FY27, while Operating PAT, which excludes treasury, grew 18% QoQ. Q2FY27 Business Highlights Asset Management (AMC & MO Alternates) • PAT up 69% YoY to ₹304 Cr; Asset Management is now the largest contributor, at 43% of Operating PAT. • Total AUM up 26% YoY to ~₹2.23 lakh Cr.
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Motilal Oswal Financial Services Ltd. | Q2 & H1FY27 Results | Page 2 • AMC (MF, PMS & AIF): AUM up 25% YoY to ~₹2 lakh Cr. Mutual Fund net flow market share was 4.0% for Q2FY27 and rose to 6.0% in September 2026, about twice our AUM market share of 2. 7%. SIP inflows were ₹4,170 Cr, a 4.3% market share. • MO Alternates: Revenue up 92% YoY, driven by strong fund-raising, new alternate strategies and AUM growth of 36% YoY to ₹23,091 Cr. Private Wealth Management • AUM up 58% YoY to ~₹3 lakh Cr; ARR AUM up 28% YoY. • Revenue up 14% QoQ and net flows up 65% QoQ. • Lending book up 90% YoY to ₹7,333 Cr. Relationship Manager base up 15% YoY to 443. • PAT up 2% YoY, due to high base of Q2FY26 which grew 22% YoY. But 3 yr / 5 yr PAT CAGR is very robust at 25%/29%. H2FY27 should be much higher than H1FY27 Wealth Management • Overall ADTO market share rose to 7.9%; brokerage revenue up 11% YoY. Broking ARPU up 11% YoY. • Distribution AUM up 26% YoY to ₹47,912 Cr. • Loan book up 42% YoY to ₹10,197 Cr; Group Margin Trade Funding (MTF) book up 56% YoY to ₹9,600 + Cr. • PAT up 3% YoY. Headwinds due to several regulatory changes and flat markets over last 8 quarters are in the base and we expect growth to improve, going forward Capital Markets • Ranked among India's top 3 investment banks, and #1 in Qualified Institutional Placements (QIPs) for H1FY27. • Revenue up 31% QoQ; PAT up 12% QoQ. Housing Finance • Disbursements up 29% YoY to ₹701 Cr; AUM up 24% YoY to ₹6,476 Cr. • Net Interest Income (NII) up 14% YoY. • Asset quality: GNPA 1.5% and NNPA 0.9%. Treasury & Balance Sheet • Treasury book up 27% YoY to ₹11,346 Cr. It has compounded at 41% since inception, driven by strong IRRs and the reinvestment of operating profits. • India Ratings upgraded MOFSL's long-term rating to AA+ / Stable. MOFSL is now rated AA+ / Stable by CRISIL, India Rating and ICRA, reflecting the strength of the franchise and a business model built for sustainable growth across market cycles. Built for Compounding ARR now contr ibutes 66% of revenue, and the rising share of the Asset and Private Wealth businesses is lifting the quality and predictability of earnings. Over the last 10 years, MOFSL has delivered 33% Operating PAT CAGR, 26% EPS CAGR and an average ROE of 23%, funded entirely through internal accruals with no equity dilution. Net worth compounded at 25% over the same period, after three buybacks and consistent dividend payouts. Management Commentary Commenting on the results, Mr. Motilal Oswal, MD & CEO, MOFSL, said: "Q2FY27 reflects the deliberate shift in our earnings mix. Asset Management is now our largest profit pool, and two -thirds of our revenue is recurring, which makes our earnings more resilient through market cycles. With AA+ ratings from all three agencies and a decade of growth funded entirely from internal accruals, we are well placed to deliver strong growth ahead."
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Motilal Oswal Financial Services Ltd. | Q2 & H1FY27 Results | Page 3 About Motilal Oswal Financial Services Ltd. Motilal Oswal Financial Services Limited (MOFSL) is the largest integrated capital market player in India, with strong and rising rankings across its businesses, each of which still offers a long growth runway. Rising wealth, to over USD 100 Tn, and the fi nancialisation of savings are powerful tailwinds, and MOFSL is widening its presence by entering promising adjacencies in each of its businesses. For further details, please refer to the Investor Presentation [Click Here] or contact: Mr. Shalibhadra Shah Group Chief Financial Officer shalibhadrashah@motilaloswal.com Mr. Manish Kayal Head – Corporate Planning & IR manish.kayal@motilaloswal.com Mrs. Rohini Kute Head – Group Corporate Communication rohini.kute@motilaloswal.com +91 98201 96838
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* On the basis of FY26 Net Worth Ranking amongst non-bank peers Investor Presentation Q2 & H1FY27 Motilal Oswal Financial Services Limited Largest Integrated Capital Market Player* Primed to Benefit From India’s Multi-Trillion Dollar Opportunities
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Table Of Content Compounding Machine MOFSL Value Proposition Q2FY27 Highlights Others (Tech, Marketing, ESG) Pg 03 - 06 Pg 44 - 47 Pg 07 - 11 Pg 12 - 43
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MOFSL’s Power of Compounding, Demonstrated Over ~4 Decades 1987 1990 - 95 2006 2007 2010 2014 2018 2024 2025 2026 H1FY27 ₹1 lac ₹10 Cr ₹107 Cr ₹333 Cr ₹946 Cr ₹1,170 Cr ₹2,886 Cr ₹8,732 Cr ₹12,888 Cr Started as a Sub- Broking Outfit - Prudential Portfolio Services Started Retail & Institutional Equities Capital raised through Private Equity. Enters into Investment Banking, Private Equity, and Wealth Management businesses Goes public. The IPO was oversubscribed 26.4 times Asset Management Company launches its maiden mutual fund offering Entered into Affordable Housing Finance Business and started deploying free cash flows into Treasury Investments Crossed 1 mn customers in Wealth Management Assets Under Advice (AUA) crossed ₹ 4 Tn mark Employee count crossed 10,000 Total client base crossed 15 mn.* AUA crossed ₹6 Tn. Mark LT Credit Rating at AA+ Stable. First amongst non-bank domestic capital market Segment to have AA+ Stable rating by CRISIL, India Ratings and ICRA Highest ever Half Yearly Total PAT (incl. OCI) of ₹ 2,583 Cr Asset Management AUM crossed major milestone of ₹2 Tn. Received Custodian license from SEBI ₹15,541 Cr *Aggregated nos. of customers of each business 3 Net Worth Trend
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Mar-16 Sept-26 3,885 59,870 29% CAGR Total Revenue in ₹ Cr Total PAT (incl OCI) in ₹ Cr Assets under Advice (AUA) in ₹ Cr Net Worth in ₹ Cr Nifty 500MOFSL Market Cap in ₹ Cr 1,081 9,423 Mar-16 Mar-26 24% CAGR 169 2,043 Mar-16 Mar-26 28% CAGR 47,074 ~6.6 lakh Mar-16 Mar-26 30% CAGR 1,437 12,888 Mar-16 Mar-26 25% CAGR 6,452 22,072 Mar-16 Sept-26 12% CAGR TTM PAT Ranking 160# M-cap Rank 187* MOFSL’s Strong Decadal Compounding Journey In Past Decade Profit growth has been higher than revenue growth MOFSL’s market cap has outperformed the Nifty 500 Index by 17% CAGR Assets under Advice have posted 30% CAGR in the last decade *As on Oct 28, 2026. #TTM for period from Jul’25 to Jun’26 amongst listed entities CAGR = Compounded Annual Growth Rate 4 TTM PAT Ranking 160# M-cap Rank 175* TTM PAT Ranking 161#
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Rising ARR Revenue Mix and Improving Contribution from Asset & Private Wealth 5 39% 42% 49% 57% 61% 58% 51% 43% FY24 FY25 FY26 H1FY27 Other Businesses Asset & Private Wealth Management Businesses ARR now contributes 2/3rd of our revenue Asset & PWM PAT contributes 57% of Total PAT with 44% YoY growth 34% 38% 39% 44% 55% 54% 60% 66% 45% 46% 40% 34% FY24 FY25 FY26 H1FY27 TBR ARR YoY PAT growth of Asset & PWM Consolidated Operating Revenue Mix ARR Revenues growing at 30%+ YoY 29% 30% 29% 32% YoY ARR Revenue growth ARR Revenue (₹ Cr) Increasing share of non-broking revenue in WM segment 53% 60% 65% 65% FY24 FY25 FY26 H1FY27 Consolidated Operating PAT Mix 2,194 2,843 3,678 2,218 FY24 FY25 FY26 H1FY27 Contribution of Non-Broking revenue in WM
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726 958 1,118 632 FY24 FY25 FY26 H1FY27 Healthy Growth in ARR Assets Drive ARR Revenue Growth in WM & PWM 6 WM ARR Revenue (₹ Cr) 18,551 23,744 29,695 36,401 FY24 FY25 FY26 H1FY27 WM ARR Assets (₹ Cr)PWM ARR Assets (₹ Cr) 339 442 586 337 FY24 FY25 FY26 H1FY27 PWM ARR Revenue (₹ Cr) 26,800 34,810 46,791 54,475 FY24 FY25 FY26 H1FY27
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Engine #1 Integrated player in multiple assets based & capital market businesses Each business is managed by professional CEOs Diversified revenue profile, ARR* contributed 2/3rd revenue share. Operating Businesses Investments providing synergy and stability to Operating businesses Highly liquid investments Substantial skin in the game Focus on healthy annual returns over long term Engine #2 Treasury InvestmentsInvestments are used strategically for operating businesses Operating profit post dividend payout invested Synergy + Liquidity + Stability Click to visit slide of Treasury Investment MOFSL’s Twin-Engine model Strategic synergies between Large Treasury Book & Operating Businesses *ARR – Annual Recurring Revenue 7
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MOFSL - Consistent Alpha with Rising Rank 8 11% 12% 11% 25% 29% 40% Since Mar'11 Since Mar'16 Since Mar'21 Nifty 500 CAGR MOFSL Share Price CAGRAlpha 14% 17% 29% MOFSL Ranking Nifty 500 vs MOFSL Share Price Return as on 30th Sep’26 Consistent Improvement in Rank MOFSL’s outperformance 373 345 117 160 161 365 285 288 219 175 Mar'11 Mar'16 Mar'21 Mar'26 Current* PAT Ranking Market Cap Ranking ^As on Oct 28, 2026. *TTM for period from Jul’25 to Jun’26 amongst listed entities
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Keeps Financial leverage under control. Collateral support for group borrowings. No need to raise external equity capital. Strong buffer as capital Intensity of the businesses is rising Capital Intensity of the businesses is rising To tap adjacencies in existing businesses Absorbing shocks in an uncertain environment Treasury Book CAGR of 41% since FY14. XIRR of 17.1% in the same period. Highest Credit Rating of AA+ within the non-bank domestic capital market Segment (CRISIL, ICRA & India Rating). Prudent capital allocation to foster new opportunities and grow existing businesses Operating PAT Growth of 33% in last decade. No external equity capital raise since IPO in 2007. Executed 3 buybacks. Annual Dividend Payout of 20% every year. Twin Engine: Backbone of the group’s growth over the past decade Proven Model – Berkshire Hathaway. Many Advantages Of Large Balance Sheet In a High Growth Sector. Capital Intensity of the businesses is risingOnly Integrated Capital Market Player with ~4 Decade History Proven Record Of Prudent Capital Allocation Strategy 9
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Servicing All Clients Segments Retail Clients Premium Clients Institutional Clients Strategic Clients Mass Affluent HNI UHNI Corporates Investment Funds Family Offices / Promoters 95%+ Relationship Managers 1,550+ Research Team 100+ Pin-code coverage in India ₹ 8.8+ Lakh Cr AMC Folios ~10.3 Mn Broking Clients ~5.9 Mn Group Asset Under Advice Comprehensive Solutions Across Client Categories • Advisory led Broking • Managed F&O solutions • Commodity solutions • MTF, LAS • Distribution of Financial Products • Equity Research • Institutional Client Derivative Strategies • Block Deals • Custody • Multi-asset Solutions • Alternate assets • Lending & Credit solutions • Bespoke Advisory solutions • Treasury solutions • Co-investments / Unique products • Tax & Estate Planning • Co-investment opportunities in philanthropic initiatives in high impact educational and healthcare causes • Mutual Funds • Public Markets PMS/AIF • Global Feeder Funds / GIFT City Presence • Pension Funds • Private Equity • Residential Real Estate • Private Credit • Commercial Real Estate • Equity Capital Markets • M&A Advisory • IPOs & QIPs Investment Banking AMC Alternates Wealth Management Institutional Equities Private Wealth Foundation 10
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• Leaders in High Growth businesses, operating leverage will drive profit growth. • Focus is to improve market share in all the businesses • Continue to deliver ROE of 20%+ in operating business • Growing Treasury Book from $1.2bn to multi-billion dollar book in next decade Sector Tailwinds & Improving Market Share will drive 20% PAT growth AMC (MF, PMS & AIF) • Flow Market Share higher than AUM • More products with 3+ years vintage • Experienced Fund Management Team • New Product Offerings with NFO, Gift City, Pension Funds etc. MO Alternates (PE, RE & Private Credit) • Top performing Alternate Funds • Expanded into Private Credit. • Expand further into Commercial Real Estate in FY27 • Huge potential to grow AUM multi-fold • Increasing VAR with top performance Private Wealth Management • Top Tier PWM with $30+ bn AUM • Increasing RM base in HNI/UHNI • Expanding curated solutions to clients • Increasing ARR Revenue and gaining market share Wealth Management • Differentiated proposition to clients as advisory led full service broking player • Increasing MTF book market share • Rising distribution penetration • Broking is expected to grow after 8 headwinded quarters Capital Market (IE, IB & Custody) • Offering full suite of Investment Banking products with strong pipeline • Amongst largest research Team • Covering 400+ stocks & increasing • Custody & clearing business ramp-up Treasury Investments • Strong balance-sheet base to grow & support operating businesses • Capital buffer for operating businesses as new regulations demand higher capital. • Earned 17%+ XIRR since inception • Lowers need for external equity fund raise Future Ready To Deliver 20%+ Operating PAT Growth & 20%+ ROE Business Segments have huge headroom to gain market share 11
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Assets under advice Net Operating Revenue Operating PAT Treasury Investments Net Worth ROE ARR Assets ARR Contribution in Net Revenue Total Clients Employees ₹ 8.8+ lakh cr. 29% YoY ₹ 1,757 cr. 20% YoY ₹ 718 cr. 29% YoY ₹ 11,346 cr. 27% YoY ₹ 15,541 cr. 21% YoY ₹ 3.2+ lakh cr. 36%# 66% 16.1+ mn.11% YoY ~12,00026% YoY *As on Oct 28,2026 Market capitalization ₹ 58,452 Crs* PAT Ranking1 161 amongst listed entities M-cap Rank 175* Ranking 1 TTM for period from Jul’25 to Jun’26 Q2FY27 – Continued Growth In Operating Earnings with 29% YoY growth # Annualised basis H1FY27 PAT (incl OCI) 12 Q2FY27 Operating & Financial Snapshot
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Focus on Sustainable and Fee Based Revenues Substantial Share of Fees Based Revenues at ~42% and rising ARR revenue share at ~66% 13 Revenue stream wise break-up H1FY27 FY26 FY25 FY24 FY23 FY22 Management & Advisory Fees 31% 26% 21% 19% 18% 19% Distribution Fees 11% 16% 15% 11% 11% 11% Net Interest Income 32% 31% 31% 31% 32% 29% Brokerage Revenues 22% 23% 28% 34% 34% 36% Other Operating Revenues 4% 4% 4% 4% 4% 5% Total Operating Revenue (Net in ₹ Cr) 3,294 5,914 5,178 3,943 2,947 2,623 Share of ARR in Total Operating Revenue 66% 60% 54% 55% 56% 55%
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1. Net Revenue is calculated after excluding commission expenses, interest expenses and intercompany adjustments. 2. Including Other Comprehensive income (OCI) Asset & PWM Continues To Drive Group’s Growth Momentum Asset & PWM revenue grew by 32% on YoY on rising AUM 14 Particulars (₹ Cr) Q2FY27 Q2FY26 YoY (%) Q1FY27 QoQ (%) H1FY27 H1FY26 YoY (%) Net Revenue - Asset & Private Wealth Management 854 649 32% 718 19% 1,572 1,216 29% - Wealth Management 590 560 5% 571 3% 1,161 1,128 3% - Capital Market 209 209 - 160 31% 369 425 (13%) - Housing Finance 134 110 21% 129 4% 262 210 25% Total Net Revenues1 1,757 1,460 20% 1,538 14% 3,294 2,889 14% Employee Expense 555 507 9% 498 11% 1,052 1,026 3% Other Expense 269 214 25% 248 8% 517 413 25% Total Expense 823 722 14% 746 10% 1,569 1,439 9% Profit Before Taxes (PBT) 933 739 26% 793 18% 1,725 1,451 19% PBT Margin 53% 51% 52% 52% 50% Operating PAT 718 554 29% 609 18% 1,327 1,088 22% Treasury Investments PAT2 353 (269) 904 1,257 627 Total PAT3 1,070 285 1,513 2,583 1,715
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*Excluding intercompany adjustments Asset & PWM PAT grew 43% YoY , contributes 58% of Q2FY27 of Operating PAT Segmental PAT ( ₹ Cr) Q2FY27 Q1FY27 Q4FY26 Q3FY26 Q2FY26 Asset and Private Wealth Management 416 335 337 309 290 YoY Growth (%) 43% 46% 48% 32% 36% Wealth Management^ 175 161 204 181 170 YoY Growth (%) 3% (7%) 7% (5%) (24%) Capital Market 85 76 75 70 89 YoY Growth (%) (5%) (25%) 12% 15% 23% Housing Finance 36 32 59 42 34 YoY Growth (%) 7% 36% 61% 12% 27% Operating PAT* 718 609 661 611 554 YoY Growth (%) 29% 14% 25% 16% 2% ^Transactional revenue in WM distribution includes contribution from secondary transaction revenues, which tend to be lumpierand market-linked. This PAT was ₹ 21 Crs in Q2FY26. Adjusting for this normalised PAT growth for Q2FY27 would have been 17%. 15
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74% ₹ Cr Consolidated Net Revenue Mix Diversified & Sustainable Group’s Revenue Streams Focus is on increasing ARR Mix and fee based income in total revenue 16 Fee & NII Revenue Share 317 376 675 724 477 553 898 1,063 429 582 756 1,054 260 200 558 379 46 72 92 137 1,460 1,757 2,889 3,294 Q2FY26 Q2FY27 H1FY26 H1FY27 Brokerage NII Mgmt. Fees & Advisory Distribution Other Op. 61% 66% 56% 66% 39% 34% 44% 34% Q2FY26 Q2FY27 H1FY26 H1FY27 Annual Recurring Revenue (ARR) Transaction Based Revenue (TBR)
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Note : Net worth has been allocated between operating business & treasury investments PAT and Net worth nos. are post minority *Annualised basis H1FY27 PAT (incl OCI) 17 Strong Balance Sheet For Operating Businesses Future Growth Operating RoE (Core) 23% Sustainable High Return Growth Drivers - Asset & PWM RoE 40% Consolidated RoE (Total) 36% Consolidated RoE (Total) Particulars (₹ Cr) H1FY27 Asset & Private Wealth Management Wealth Management Capital Market HFC Operating Segments Core Total Treasury Consolidated Net Worth Operating PAT Operating RoE* (Annualised) 40% 12% 66% 8% 3,923 5,713 535 1,620 3,749 15,541 751 336 161 66 1,257 2,583 87% 36% Total Operating 23% 11,792 1,327
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Asset & Private Wealth Management* Wealth Management** Capital Markets (IE & IB) Home Finance Treasury Investment * Includes Mutual Funds, PMS, AIF, Private Alternates & Private Wealth Management businesses | **Includes retail broking, ca pital market lending & distribution business | IE = Institutional Equities, IB – Investment Banking MOFSL: Integrated Capital Market Player Presence in all businesses catering to all client types Images are representation purposes
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2 Focused and leading player in alternate assets 1 Differentiated Products and distribution capabilities 3 Robust Investment and Risk Management process 4 AUM of ₹5.2 lakh Cr & Net sales of ₹22,717 Cr in H1FY27 Asset & Private Wealth Management* * Includes Asset Management & Private Wealth Management businesses
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290 416 520 751 Q2FY26 Q2FY27 H1FY26 H1FY27 27,657 12,477 40,336 22,717 Q2FY26 Q2FY27 H1FY26 H1FY27 Net Sales (₹ Cr.)Net Revenue Break-up (₹ Cr.) PAT (₹ Cr.) AMC & PWM Segment Driving Group’s Profitability 44% YoY Growth in Asset & PWM Operating PAT in H1FY27 20 502 703 879 1,294 147 150 337 278 649 854 1,216 1,572 Q2FY26 Q2FY27 H1FY26 H1FY27 ARR TBR
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1 2 MO Alternates: (A) Private Equity (PE) + Real Estate Funds (RE) (B) Forayed in Private Credit (PC) business 4 3 AMC: Listed Equities Mutual Funds (MF) + Alternates Fee earning AUM of ₹2.2 Lakh Cr. Quality Investment Team with a successful track record Asset Management
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Net Sales (₹ Cr.)AUM Break-up (₹ Cr.) Individual MF AUM (₹ Cr.) MF Unique Customers (Cr.) Strong AUM Growth For Higher Milestones Driven By Higher Retail Penetration in AMC & New Alternate Funds Launches 0.94 0.99 1.00 1.01 1.03 17% 17% 16% 16% 16% -100% -80% -60% -40% -20% 0% 20% 0.9 0.9 0.9 0.9 1.0 1.0 1.0 1.0 1.0 Sep'25 Dec'25 Mar'26 Jun'26 Sep'26 Unique Folios Penetration 22Motilal Oswal | Asset Management 1,25,747 1,36,550 1,24,787 1,52,636 1,62,577 85% 85% 84% 85% 85% 0% 20% 40% 60% 80% - 20,0 00 40,0 00 60,0 00 80,0 00 1,00 ,000 1,20 ,000 1,40 ,000 1,60 ,000 1,80 ,000 Sep'25 Dec'25 Mar'26 Jun'26 Sep'26 Total AUM % of Total 20,011 6,120 29,041 12,516 Q2FY26 Q2FY27 H1FY26 H1FY27 1,59,619 1,99,721 16,942 23,091 1,76,561 2,22,812 Sep'25 Sep'26 AMC MO Alternates
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PAT (₹ Cr.)Net Revenue Break-up (₹ Cr.) PBT Margin(%) Asset Management Business Drives Group’s Profitability Continue to Deliver Robust Revenue & PAT Growth 66% 69% 66% 70% Q2FY26 Q2FY27 H1FY26 H1FY27 23Motilal Oswal | Asset Management 180 304 322 549 Q2FY26 Q2FY27 H1FY26 H1FY27 269 367 503 664 89 170 139 316 358 537 642 980 Q2FY26 Q2FY27 H1FY26 H1FY27 AMC MO Alternates
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SIP Flows (₹ Cr.) Net Flows (₹ Cr.) Market Share Sep’26 Q2FY27 Q1FY27 Q2FY26 FY26 Total MF Net Sales 6.0% 4.0% 3.7% 7.1% 5.7% ▪ Active Equity MF Net Sales (incl. Hybrid) 6.3% 3.8% 3.3% 7.4% 6.0% ▪ Passive MF Net Sales 5.1% 4.6% 4.9% 6.3% 5.1% SIP Market Share 4.4% 4.3% 4.3% 4.8% 4.7% AUM Market share 2.7% 2.7% 2.6% 2.4% 2.4% Three year performance * Total No. of Strategies (MF + PMS + AIF) 11 No. of strategies outperformed benchmark 10 Mutual Fund 5 Alternates (PMS + AIF) 5 Outperforming Strategies basis AUM (%) 99% *Performance as on 30th Sep’26 AMC Business Outperformance and Gain in Flows Market Share to Drive AUM Market Share Strong Market Share gains in Sep’26 month 14,008 4,813 22,477 10,330 Q2FY26 Q2FY27 H1FY26 H1FY27 24Motilal Oswal | Asset Management 4,172 4,170 7,685 8,234 Q2FY26 Q2FY27 H1FY26 H1FY27
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Amongst the top 10 diversified AMCs in India with $20bn+ of equity AUM, with a unique product proposition More products for customers. 11 Mutual Fund schemes launched in the past 24 months. 6 FM hired in the past 24 months in Fund Management Team More Funds with longer Vintages: • 6 Funds 3Yr+ • 2 will cross 3Yr in FY27 • 8 more in FY28 Higher Net Sales Market Share than AUM Market Share for past 36 months Differentiated Asset Management Proposition for client > High Growth, High Quality orientation 2,400+ distributors with more than 1 CR of Gross flows in TTM. ~30%+ sales (Ex-digital) from beyond the top 10 markets. Mutual Funds - Diversified Schemes & Fund Management Team Hired 6 Fund Managers in Past 2 years & Launched 12 Schemes Motilal Oswal | Asset Management 25
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550 1,001 2,300 4,500 490 1,030 1,150 1,200Fund Size in ₹ Cr. Valued IRR (%)Exit IRR (%) Expected Exit FY27 Gross IRR 2,000 FY30 FY33 FY29 FY27 FY27 FY32 Second close of maiden Private Credit Fund at ₹ 2,435 Crs. Fee earning Closing AUM - ₹ 20,949 Cr. Real EstatePrivate Equity MO Alternates Amongst Few Domestic Alternate Player with Strong Out-Performance Record Motilal Oswal | Alternates Exciting pipeline ahead Launch of Series VII RE Fund, Commercial RE Fund and Real Assets Funds Private Credit 26 3,0008,350 FY36 Raised in FY26 26.0% 18.2% 26.0% 21.5% 18.3% 17.2% 20.4% 17.9% 20.7% IBEF I IBEF II IBEF III IBEF IV IBEF V IREF II IREF III IREF IV IREF V IREF VI
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1 2 High quality team of 443 RMs; 3+ years vintage of 33% 4 3 - Focus on catering to the HNI & UHNI clients with a net worth of ₹5 Cr.+ - We cater to 400+ Hurun UHNI Families Integrated platform with solutions offering across asset management, lending, investment banking & institutional equities Growing clients assets under management of ₹2.96 lakh Cr Private Wealth Management
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AUM (₹ Cr.) RM Vintage Improvement to Continue Driving AUM Growth ARR Revenue Growth Will Accelerate further going forward 28 PAT (₹ Cr.) 110 112 198 202 Q2FY26 Q2FY27 H1FY26 H1FY27 Net Revenue Break-up (₹ Cr.) 7,646 6,357 11,296 10,201 Q2FY26 Q2FY27 H1FY26 H1FY27 Net Sales (₹ Cr.) PWM’s PAT up 2% YoY , due to high base of Q2FY26 which grew 22% YoY . But 3 yr / 5 yr PAT CAGR is very robust at 25%/29%. H2FY27 should be much higher than H1FY27 162 180 272 337 130 136 302 255 291 316 574 592 Q2FY26 Q2FY27 H1FY26 H1FY27 ARR TBR 1,87,929 2,96,222 Sep'25 Sep'26
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27 31 Sep'25 Sep'26 Strengthening product capabilities, targeting UHNI and Family Offices Expanding presence in Tier 2 locations 9,513 Relevant Families* ₹31 Cr Per Family AUM Per RM AUM ₹669 Cr / Families 21 Launched MO Private Wealth App for digital engagement *Relevant Families are family with AUM of ₹ 1 Cr and above (ex-custody) Focus on improving productivity and margins 487 669 Sep'25 Sep'26 18 21 Sep'25 Sep'26 AUM per Family (₹ Cr.) Families per RM 487 669 Sep'25 Sep'26 AUM per RM (₹ Cr.) 29
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1 2 Focus to Grow Recurring Revenue Share. Distribution & NII contributing 58% of Net Revenue . 4 3 No. 1 full service broking house (non-bank) by gross brokerage revenue & highest broking ARPU in the industry Extensive Geographical reach through franchisee and branch presence across the country with 95% pin-code penetration. Consolidated Market share : 7.9% in Q2FY27 (Cash + F&O + Commodity) Wealth Management
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1,120+ Internal Relationship Managers 78 Branches 7,464 External Wealth Managers ~1.6 mn Total Active Clients Per Client AUM- ~₹2 mn Per RM AUM- ~₹41 cr Clients- 185 Strong Franchise With Large Base of Internal RM & External Wealth Managers motilal oswal | wealth management 31
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Net Revenue Break-up by Products (₹ Cr.) 58% AUM Break-up (₹ Cr.) Investment solution approach to clients with comprehensive product offering. Open Architecture distribution model selling third-party products. Huge cross-sell opportunity on client base of ~5.9 mn. from current ~18% Focused & dedicated RM teams to increase penetration ratio. Also, leveraging large base of external wealth managers Distribution Business Focus to Grow Recurring Revenue Share Distribution & NII contributing 58% of Net Revenue 32motilal oswal | wealth management In Q2FY26/H1FY26 contribution from secondary transaction revenues was ₹ 27 cr / ₹ 99 cr vs. NIL in Q2FY27/H1FY27 Headwinds for broking revenue, due to several regulatory changes and flat markets over last 8 quarters, are in the base and we expect growth to improve going forward 184 205 377 410 93 62 222 126 252 283 459 547 31 41 70 78 560 590 1,128 1,161 Q2FY26 Q2FY27 H1FY26 H1FY27 Brokerage Distribution NII Other Operating 38,167 47,912 7,186 10,197 45,352 58,109 Sep'25 Sep'26 Distribution Lending Book
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1 2 Strong team of 160+ employees catering to 915 institutional clients 4 3 Covering 403 companies across 32 sectors, valuing ~76% of India’s market-cap Completed 41 deals with total issue size of ₹ 99,000 Cr+ during H1FY27. Strong deal mandate pipeline to drive future growth. Ramping Up Custody business services. Capital Markets
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403 Listed Co’s Under Active Coverage Across 32 Sectors 910+ Institutional Clients~76% of India’s market-cap 160+ Team No of Coverage Co’s will continue to RiseLeading Institutional Equity Franchise Some Selected Initiations in H1FY27 – Click for Full Report Premier Institutional Equities Franchise Covering 400+ Companies & Growing Accelerated momentum on adding coverage 34 204 233 234 264 302 366 384 403 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Jun-26 Sep-26
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Some of the Marquee Deals Executed in H1FY27 Investment Banking: #1 in QIP and #3 in IPO in H1FY27 Capital Markets League Table Strong deal pipeline to drive future growth 35motilal oswal | capital markets - investment banking Rubicon Research ₹ 2,292 cr (Block) NSE ₹ ~22,500 cr (IPO) SBI Funds Management ₹ 11,675cr (IPO) Indus Infra Trust ₹ 1,700 cr (QIP) LIC ₹ 31,000 cr (OFS) Symbiotec ₹ 2,457 cr (IPO) Rentomojo ₹ 1,378 cr (IPO) Kusumgar ₹ 1,100 cr (IPO) Turtlemint ₹ 833 cr (IPO) Ather ₹ 1,300 cr (QIP) Piramal Finance ₹ 2,100 cr (QIP) Molbio Diagmostics ₹ 10,,990 cr (IPO & Pre-IPO)
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Motilal Oswal Secures Custodian License from SEBI Completes Institutional Service Value Chain. Business to start operations from Q4FY27 onwards. Regulatory Milestone SEBI Approval Received approval to act as a Custodian Of Securities MOFSL became the first non bank player to receive Custody license after more than a decade. Comprehensive Solutions • Safekeeping of Securities • Trade Settlement • Corporate Action Processing • Regulatory Reporting of Institutional Clients including, AIFs, PMS and Pension Funds, amongst others. • Holds an MBA in Finance from the University of Hartford, CT. • Brings nearly three decades of global experience across Custody, Corporate Banking, Prime Brokerage and Investment Banking. • Spent over 18 years at Deutsche Bank, managing the Securities Services (Custody) division for India and Sri Lanka, leading teams serving domestic and international clients. • Previously held roles at SS&C Fund Services and American Skandia (Prudential Annuities) in Connecticut, USA. Leadership Appointment for Custody Business Janak Dalal MD & CEO – Motilal Oswal Custodial Services Private Limited 36
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1 2 Expanding branch network in Tier II & III locations to fuel disbursement growth 4 3 Building retail granular book with wide geographical distribution and pristine asset quality Diverse funding domestic & overseas sources with competitive cost of borrowing Strong Credit Rating: AA+ with Stable outlook by CRISIL, ICRA & India Ratings Home Finance Images are representation purposes
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4,577 5,485 658 991 5,236 6,476 Sep'25 Sep'26 Retail Non Retail AUM (₹ Cr.) Disbursement (₹ Cr.)1 Portfolio Yield & Cost of Borrowing2 Sustainable growth momentum Driven by consistent spreads and healthy asset quality 38 GNPA & NNPA 1.6% 1.5% 0.9% 0.9% Sep'25 Sep'26 GNPA NNPA 1. On a like-for-like cheque handover basis, H1FY26 disbursements would have been ₹1,029 crore (+31% YoY). 2. Yield & CoB are as at period-end. 13.8% 13.5% 8.1% 8.0% Sep'25 Sep'26 Portfolio Yield COB 406 502 690 950 138 200 250 397 544 701 940 1,348 Q2FY26 Q2FY27 H1FY26 H1FY27 Retail Non Retail
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Net Worth (₹ Cr.) PAT (₹ Cr.) Return on Assets (%) Return on Equity (%)Gross Gearing D/E + 46 bps + 0.4x Robust Financial Performance Strong capitalization with healthy return matrix 39 95 108 189 218 Q2FY26 Q2FY27 H1FY26 H1FY27 34 36 58 69 Q2FY26 Q2FY27 H1FY26 H1FY27 Net Interest Income(₹ Cr.) 2.5% 2.2% 2.1% 2.1% Q2FY26 Q2FY27 H1FY26 H1FY27 1499 1683 Sep'25 Sep'26 2.5 2.9 Sep'25 Sep'26 9.2% 8.8% 7.9% 8.4% Q2FY26 Q2FY27 H1FY26 H1FY27
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Parameters Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 FY26 Interest income 12.7% 12.8% 12.5% 12.8% 12.7% 12.8% Interest expense 5.9% 5.9% 6.0% 5.8% 5.9% 5.8% NII 6.8% 6.9% 6.6% 6.9% 6.7% 7.0% Add: Other Income 1.2% 1.3% 1.6% 0.8% 1.5% 1.5% Total Income 8.0% 8.2% 8.2% 7.7% 8.2% 8.5% Less: Opex 4.5% 4.5% 4.5% 4.4% 4.5% 4.5% PPOP 3.6% 3.7% 3.7% 3.3% 3.7% 4.0% Less: Credit Cost 0.4% 1.0% 0.8% 0.6% 0.9% 0.3% PBT 3.1% 2.7% 2.9% 2.7% 2.8% 3.7% PAT/ROA 2.5% 2.0% 2.2% 2.1% 2.1% 2.8% Leverage 3.7 3.9 3.9 3.7 3.9 3.7 ROE 9.2% 8.0% 8.8% 7.9% 8.4% 10.6% CRAR 42.6% 37.8% 34.9% 42.6% 34.9% 37.5% *ROE Tree calculations based on Average Total Assets Housing Finance: ROE Tree 40Motilal Oswal | Home Finance
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1 2 Substantial skin in the game. Sponsor commitment higher than legal requirement. 4 3 Healthy returns at 17.1% XIRR since FY14 Large Treasury book helps in absorbing shocks in an uncertain environment Grab new opportunities and foster the existing operating businesses Prudent Capital Allocation
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-268 353 628 1,257 Q2FY26 Q2FY27 H1FY26 H1FY27 Treasury Investments (₹ Cr.) Particulars (₹ Cr) Q1FY27 Treasury Investment 11,346 Less : Capital allocated across operating businesses* (7,597) Net Worth of Treasury Segment 3,749 PAT incl. OCI (₹ Cr.) Twin Engine Model Click to visit slide of *net of taxes Strong Treasury Book to Support Operating Businesses 42 1,786 2,333 2,661 3,037 3,765 5,192 6,058 1,339 1,761 1,665 3,076 3,734 3,734 5,288 3,125 4,094 4,326 6,113 7,499 8,926 11,346 FY21 FY22 FY23 FY24 FY25 FY26 Sep'26 Cost MTM
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Healthy Balance Sheet for Multi-Trillion Dollar Opportunities in India Particulars (in ₹ Crs) Sep-26 Mar-26 I. ASSETS : 1. Financial Assets (a) Cash, cash equivalents and Bank Balance 12,275 13,483 (b) Trade & Other Receivables 6,035 4,070 (c) Investments 13,894 10,299 (d) Loans 18,900 13,744 (e) Derivative financial instruments 123 101 (f) Other financial assets 622 512 Sub total financial assets (A) 51,848 42,210 2. Non-financial Assets (a) Fixed Assets 919 884 (b) Current and Deferred Tax Assets 44 31 (c) Other non-financial assets 253 285 Sub total non-financial assets (B) 1,215 1,200 Total Assets (A+B) 53,063 43,410 Particulars (in ₹ Crs) Sep-26 Mar-26 II. LIABILITIES AND EQUITY Liabilities 1. Financial Liabilities (a) Trade & Other Payables 5,589 5,577 (b) Borrowings 26,842 21,255 (c) Derivative financial instruments 45 41 (d) Other financial liabilities 3,989 2,853 Sub total financial liabilities (A) 36,465 29,726 2. Non-Financial Liabilities (a) Current & Deferred tax liabilities (Net) 704 475 (b) Provisions 135 122 (c) Other non-financial liabilities 151 135 Sub total non-financial liabilities (B) 990 732 3. Equity Net Worth 15,541 12,888 Minority Interest 67 64 Sub total equity (C) 15,608 12,952 Total Liabilities and Equity (A+B+C) 53,063 43,410 43
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Building a digital-first, AI-driven, innovative and secure IT Ecosystem for investment management at speed, intelligence and scale while maximizing business growth and investor value. Future ready Tech Infrastructure to Power MOFSL Growth 44
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AI at the Core of Motilal Oswal From client advisory to code — intelligence embedded across the enterprise 45 70–80% Engineering productivity uplift ~2x Faster speed to market 80%+ Customer interactions AI-handled 100% Multilingual calls AI-surveilled A D V I S E Client Intelligence • MOGenie + Research Agents • Portfolio X-ray & restructuring • Risk-appetite aligned ideas S E R V E Always-On Support • AI-drafted mail responses • Voice agent NFO campaigns • Substantial incremental leads P R O T E C T Trust & Compliance • Multilingual call transcription • Translate + trade reconciliation • Fraud detected pre- settlement B U I L D AIDLC Engineering • AI-driven delivery lifecycle • Shorter cycles, leaner teams • Higher accuracy, fewer defects STP eKYC ONBOARDING Document validation › Liveness detection › Face & name match › Risk screening — a multi-agent pipeline, straight through HFC BACK OFFICE AI-integrated redesign › 60–70% faster processing › Higher accuracy › Faster disbursement › Substantially lower cost — next 2–3 yrs Over 80% of customer interactions are now handled by AI and AI agents help running back-office operations, cutting processing time by 30–60%. Next we scale to AI agents across departments along with 24x7 AI voice assistance and our target wil 58K more AI-resolved queries.
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Strategic Brand Leadership Initiatives An Evening of Music, Stories & Fine Dining Hosted an exclusive client evening in New Delhi, featuring curated fine dining by Ritu Dalmia and Chef Mohit Nagpal, a live performance by Ankur Tewari, and meaningful conversations Motilal Oswal Private Wealth Young Titans Forum Expanded its Young Titans Forum with the launch of its Delhi chapter and the second edition in Mumbai, bringing together 200+ young leaders to exchange insights on building businesses, challenging convention and shaping the future Motilal Oswal Wealth Management Podcast Created a series of podcasts that sparked meaningful conversations around wealth-building principles for a serious, mature audience Motilal Oswal Wealth Management Product Films The campaign positioned Riise by Motilal Oswal as the antidote to impulsive, opinion-led financial decisions. Through two relatable, humour-driven narratives, it reinforced a simple truth: Smart money doesn’t follow opinions. It follows research Motilal Oswal Wealth Management MOBIC Motilal Oswal Private Wealth x EO Partnered with EO New Mumbai for an exclusive interaction with Mr. Raamdeo Agrawal on business insights, market conviction, and long-term wealth creation The event held on August 3rd under the theme “Bulls of Compounding,” celebrating long-term wealth creation. It brought together 1,200+ partners from 500+ cities, alongside industry leaders to exchange insights on market strategies and India’s growth opportunities Motilal Oswal Asset Management Fund launches Relaunched existing funds to strengthen product awareness and drive investor consideration Motilal Oswal Asset Management NFO launches 2 new fund NFO’s were launched Motilal Oswal Asset Management ₹2 Lakh Crore AUM Milestone Celebrated the milestone by amplifying the achievement among industry stakeholders, distribution partners, and investors to strengthen brand visibility and market presence 46
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Environment Governance • Adopted ESG Vision 2030 to drive long-term sustainable & responsible business practices. • Renewable Energy Adoption: Initiated the gradual adoption of renewable energy, starting with the Malad location, with plans to expand wherever feasible. • Voluntarily engaged ICRA ESG Ratings for independent assessment of its ESG initiatives. • Value Chain Sustainability score improved from 55 to 80, reflecting enhanced value-chain ESG performance • Positively impacted more than 97,500 individuals through CSR initiatives • Expanded Scope 3 emissions reporting by including additional categories to strengthen carbon footprint management • Enhanced resource efficiency through water-saving fixtures (aerators), sensor-based water systems, sensor lighting and energy-efficient LED installations across office premises. • EV charging point installed at the Registered Office to promote electric vehicle adoption and reduce carbon footprint. Social • 100% of our permanent employees are covered under health insurance • 100% of our permanent employees are covered by maternity and paternity benefits • Median remuneration of male employees were ₹ 5.4 Lakhs per annum and female employees were ₹ 5.3 Lakh per annum excluding Directors and KMP . • The Company has been certified with the reputed ‘Great Workplace’ recognition - Great Place to Work – India® 2026. • Zero workplace safety incident in FY 2025-26 • Accessible workplaces with ramps, wheelchair- friendly infrastructure, accessible elevators and Braille-enabled lift signage for differently abled stakeholders. • Sponsored over 3.5 Lakhs nutritious meals for underprivileged children through The Akshaya Patra Foundation • Diverse Board composition with roles of Chairman and Managing Director are held by separate individuals • 50% Independent Director in Holding Company and at least 50% in material subsidiary • Average Board experience ~30 years • Adoption of ESG Policy, Waste Management Policy and Equal Opportunity Policy. • Introduction of an AI-driven fraud detection tool to uphold fairness, transparency, and accountability. • Voluntarily participating in multiple public policy initiatives by actively contributing to SEBI consultation papers • Strengthened Group-wide governance through the implementation of a third-party Compliance Management System (CMS), replacing the internally developed platform to enhance compliance monitoring and oversight. • Transition to Consolidated ESG Reporting: Transitioned to consolidated Group-level BRSR reporting for enhanced transparency and a holistic view of ESG performance. CRISIL Rating - “STRONG” SES ESG Rating - "A" Launched an online ESG profile platform, which adheres to international frameworks such as IFC, GRI, SASB, CDP, etc. ESG Page Link for More Information MOFSL’s ESG initiatives ICRA ESG Ratings has upgraded the Company's ESG Impact Rating from Good to Outstanding ICRA ESG Rating - "Outstanding" 47
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Abbreviations PAT = Profit After Tax TTM = Trailing Twelve Months TBR = Transaction Based Revenue ARR = Annual Recurring Revenue AUA = Assets Under Advice AMC = Asset Management Company PMS = Portfolio Management Services AIF = Alternative Investment Funds ADTO = Average Daily Turnover XIRR = Extended Internal Rate of Return YoY = Year On Year (for comparison) QoQ = Quarter on Quarter (for comparison) CAGR = Compounded Annual Growth Rate PWM = Private Wealth Management NII = Net Interest Income RE Fund = Real Estate Funds OCI = Other Comprehensive Income ESG = Environmental Social Governance Standards ROE = Return on Equity PPOP = Pre-Provision Operating Profit CRAR = Capital to Risk-weighted Assets Ratio 48
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This earning presentation may contain certain words or phrases that are forward - looking statements. These forward-looking statements are tentative, based on current analysis and anticipation of the management of MOFSL. Actual results may vary from the forward-looking statements contained in this presentations due to various risks and uncertainties involved. These risks and uncertainties include volatility in the securities market, economic and political conditions, new regulations, government policies and volatility in interest rates that may impact the businesses of MOFSL. MOFSL has got all market data and information from sources believed to be reliable or from its internal analysis estimates, although its accuracy can not be guaranteed. MOFSL undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. DISCLAIMER This report is for information purposes only & does not construe to be any investment, legal or taxation advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any action taken by you on the basis of the information contained herein is your responsibility alone and MOFSL and its subsidiaries or its employees or directors, associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of information contained herein, but do not represent that it is accurate or complete. MOFSL or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this publication. The recipient of this report should rely on their own investigations. MOFSL and/or its subsidiaries and/or directors, employees or associates may have interests or positions, financial or otherwise in the securities mentioned in this report. Safe Harbour 49
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Thank You For any query, please contact: Shalibhadra Shah Chief Financial Officer shalibhadrashah@motilaoswal.com Manish Kayal Head Investor Relations manish.kayal@motilaloswal.com ir@motilaloswal.com For more details refer data book published on our website here Data Book Contents • Consolidated Performance • Segmental Performance • Segmental PAT trend of last 5 years • Balance Sheet • Reconciliation to Financial Statements • Exchange format P&L Company Website: www.motilaloswal.com Investor Relation Webpage: Link