Motilal Oswal Financial Services Ltd

About [ edit ]

Motilal Oswal Financial Services Ltd. was founded in 1987 as a small sub-broking unit, with just 2 people running the show. Today we are a well-diversified financial services firm.
The company has a network spread over 550 cities and towns comprising 2500+ Business Locations operated by our Business Partners and us and 16,00,000+ customers. #

Key Points [ edit ]
  • Market Cap 10,406 Cr.
  • Current Price 710
  • High / Low 747 / 493
  • Stock P/E 13.2
  • Book Value 241
  • Dividend Yield 0.70 %
  • ROCE 21.5 %
  • ROE 25.0 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 75.90% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 26.27%
  • Debtor days have improved from 198.63 to 103.34 days.
  • Company's median sales growth is 15.82% of last 10 years

Cons

  • Stock is trading at 2.95 times its book value
  • Tax rate seems low

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
278 282 303 383 284 358 323 398 431 516 546 668
175 214 185 189 180 194 204 469 217 266 277 335
Operating Profit 104 67 118 194 104 165 119 -71 214 250 270 333
OPM % 37% 24% 39% 51% 37% 46% 37% -18% 50% 48% 49% 50%
Other Income 10 6 8 8 9 9 11 8 -80 6 5 3
Interest 28 27 26 23 28 32 31 39 32 29 30 37
Depreciation 5 5 4 4 7 7 7 8 8 8 9 11
Profit before tax 81 41 95 175 77 134 92 -110 94 219 236 289
Tax % 24% 45% 13% 11% 18% -13% 2% 1% 4% 18% 19% 13%
Net Profit 62 23 83 155 63 152 91 -109 90 180 191 252
EPS in Rs 4.26 1.56 5.67 10.66 4.32 10.33 6.13 -7.38 6.08 12.30 13.02 17.18

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
64 64 82 95 98 129 111 132 1,359 1,217 1,270 2,161
4 7 14 11 24 26 20 5 731 733 953 1,095
Operating Profit 60 57 68 84 73 103 91 127 628 484 316 1,067
OPM % 94% 90% 83% 88% 75% 80% 82% 96% 46% 40% 25% 49%
Other Income 0 0 0 -16 -1 0 0 -29 -5 30 37 -65
Interest 3 1 1 13 19 30 30 5 93 104 129 128
Depreciation 0 0 1 8 8 8 8 7 29 18 30 37
Profit before tax 57 57 66 45 45 65 53 86 500 392 194 837
Tax % 26% 25% 15% 15% 12% 7% 13% 0% 21% 18% -1% 15%
Net Profit 42 43 56 39 39 60 47 86 393 322 197 712
EPS in Rs 2.95 3.88 2.67 2.85 4.32 3.29 5.97 27.11 22.12 13.29 48.59
Dividend Payout % 41% 47% 39% 75% 70% 70% 106% 92% 31% 38% 30% 10%
Compounded Sales Growth
10 Years:42%
5 Years:81%
3 Years:17%
TTM:70%
Compounded Profit Growth
10 Years:34%
5 Years:76%
3 Years:26%
TTM:301%
Stock Price CAGR
10 Years:21%
5 Years:19%
3 Years:-10%
1 Year:36%
Return on Equity
10 Years:16%
5 Years:17%
3 Years:16%
Last Year:25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
14 14 15 15 14 14 14 14 15 15 15 15
Reserves 459 498 544 554 510 561 579 655 2,367 2,579 2,749 3,517
Borrowings 59 0 0 150 175 443 398 458 1,271 1,420 1,430 2,080
59 38 69 35 47 48 27 32 1,624 1,693 1,972 3,392
Total Liabilities 591 551 628 753 746 1,066 1,019 1,159 5,277 5,706 6,166 9,003
16 17 163 152 160 152 144 141 277 281 307 326
CWIP 87 120 0 0 0 0 0 0 0 1 0 0
Investments 58 83 99 120 122 357 490 655 3,123 3,095 3,780 3,863
430 330 366 481 463 556 385 363 1,878 2,329 2,078 4,814
Total Assets 591 551 628 753 746 1,066 1,019 1,159 5,277 5,706 6,166 9,003

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-122 78 26 27 76 -255 286 -49 487 306 784 1
-118 -29 9 4 -1 -0 -90 -106 -289 -100 -295 95
63 -74 -35 -22 -84 260 -90 49 -181 -132 -70 -203
Net Cash Flow -176 -24 -0 10 -9 4 106 -106 17 75 419 -107

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 12% 11% 13% 12% 9% 11% 8% 11% 25% 13% 8% 21%
Debtor Days 0 0 0 0 0 0 0 0 196 355 138 103
Inventory Turnover 0.00 0.00 0.14

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
70.55 70.32 70.30 70.29 70.12 69.92 69.57 69.76 69.80 70.32 70.49 70.66
14.49 14.46 13.90 13.31 13.64 13.22 10.25 9.77 9.57 9.37 9.42 9.44
0.32 0.23 0.99 1.55 1.60 1.73 3.29 4.56 4.91 4.59 4.40 4.51
14.64 14.99 14.81 14.86 14.64 15.13 16.90 15.90 15.71 15.72 15.69 15.39

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