Motilal Oswal Financial Services Ltd

Motilal Oswal Financial Services is primarily engaged in lending and related activities. The Company received the Certificate of Registration from the RBI on 05 April 2006, enabling the Company to carry on business as a Non-Banking Finance Company (NBFC).

Pros:
Company has good consistent profit growth of 51.55% over 5 years
Company has been maintaining a healthy dividend payout of 53.96%
Cons:
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
79 19 11 274 404 435 306 278 312 303 383 283
5 4 2 163 167 198 274 175 244 185 189 179
Operating Profit 74 15 8 112 237 237 32 104 68 118 194 104
OPM % 94% 77% 79% 41% 59% 54% 10% 37% 22% 39% 51% 37%
Other Income -8 0 0 0 5 0 0 10 6 8 8 9
Interest 10 9 1 18 23 24 28 28 27 26 23 28
Depreciation 2 2 2 6 7 8 9 5 5 4 4 7
Profit before tax 55 4 6 88 212 205 -5 81 41 95 175 77
Tax % -4% -26% 2% 24% 22% 21% 70% 24% 45% 13% 11% 18%
Net Profit 57 6 6 66 166 162 -1 62 23 83 155 63
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
35 72 64 64 82 95 98 129 111 132 1,359 1,217 1,281
7 4 4 7 14 11 24 26 20 5 731 733 797
Operating Profit 29 68 60 57 68 84 73 103 91 127 628 484 483
OPM % 81% 95% 94% 90% 83% 88% 75% 80% 82% 96% 46% 40% 38%
Other Income 0 0 0 0 0 -16 -1 0 0 -29 -5 30 31
Interest 4 7 3 1 1 13 19 30 30 5 93 104 105
Depreciation 0 0 0 0 1 8 8 8 8 7 29 18 21
Profit before tax 25 61 57 57 66 45 45 65 53 86 500 392 389
Tax % 30% 26% 26% 25% 15% 15% 12% 7% 13% 0% 21% 18%
Net Profit 17 45 42 43 56 39 39 60 47 86 393 322 324
EPS in Rs 1.22 3.15 2.92 2.73 4.02 2.51 2.84 3.77 2.58 5.47 27.10 22.12
Dividend Payout % 66% 25% 41% 47% 39% 75% 70% 70% 106% 92% 31% 38%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:32.65%
5 Years:65.63%
3 Years:122.27%
TTM:-9.98%
Compounded Profit Growth
10 Years:21.72%
5 Years:51.55%
3 Years:90.53%
TTM:-16.72%
Return on Equity
10 Years:14.04%
5 Years:16.27%
3 Years:17.93%
Last Year:13.00%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
14 14 14 14 15 15 14 14 14 14 15 15
Reserves 386 419 459 498 544 554 510 561 579 655 2,367 2,579
Borrowings 0 0 59 0 0 150 175 443 398 458 1,271 1,420
22 39 59 39 71 38 51 50 36 35 1,624 1,693
Total Liabilities 422 472 592 551 629 756 750 1,068 1,028 1,162 5,277 5,706
0 0 16 17 163 152 160 152 144 141 277 275
CWIP 0 0 87 120 0 0 0 0 0 0 0 1
Investments 17 31 58 83 99 120 122 357 490 655 3,123 3,101
405 441 430 331 367 484 468 559 394 365 1,878 2,329
Total Assets 422 472 592 551 629 756 750 1,068 1,028 1,162 5,277 5,706

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-153 107 -122 78 26 27 76 -255 286 -49 487 390
-3 -14 -118 -29 9 4 -1 -0 -90 -106 -289 175
234 -11 63 -74 -35 -22 -84 260 -90 49 -181 -236
Net Cash Flow 79 82 -176 -24 -0 10 -9 4 106 -106 17 329

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 10% 16% 12% 11% 13% 12% 9% 11% 8% 11% 25% 13%
Debtor Days 0 0 0 0 0 0 0 0 0 0 196 355
Inventory Turnover 0.59 0.95 0.91 1.19 564.97