Motilal Oswal Financial Services Ltd

Motilal Oswal Financial Services is engaged in Broking business activity. Further, through its subsidiaries offers a diversified range of financial products and services such as Loan against shares, Investment activities, Private wealth management, Asset management business, Housing finance, Institutional equities, Private equity and Investment banking.(Source : 201903 Annual Report Page No: 73)

Pros:
Company has good consistent profit growth of 32.17% over 5 years
Company has been maintaining a healthy dividend payout of 28.01%
Cons:
Company has high debtors of 224.86 days.

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
424 526 588 806 810 662 603 569 624 653 609 618
194 284 306 341 350 495 322 406 476 325 300 357
Operating Profit 230 243 283 464 460 167 280 163 148 328 309 261
OPM % 54% 46% 48% 58% 57% 25% 47% 29% 24% 50% 51% 42%
Other Income 31 18 11 7 3 0 1 0 0 6 3 0
Interest 131 116 127 131 133 136 130 130 125 131 124 125
Depreciation 8 9 8 9 10 11 6 6 6 6 9 10
Profit before tax 121 135 158 332 320 20 145 27 17 197 179 126
Tax % 27% 34% 22% 27% 23% 36% 28% 89% -107% 24% 26% -13%
Net Profit 89 90 127 235 247 14 104 4 40 149 133 142
EPS in Rs 6.21 6.28 10.15 16.84 19.37 0.12 7.95 0.29 3.73 10.03 8.88 9.73
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
699 468 645 601 471 473 467 772 1,080 1,923 2,751 2,463 2,504
430 285 368 371 313 280 326 516 647 915 1,357 1,543 1,457
Operating Profit 269 182 277 229 158 192 140 256 432 1,008 1,394 920 1,046
OPM % 38% 39% 43% 38% 34% 41% 30% 33% 40% 52% 51% 37% 42%
Other Income 15 -5 0 0 11 0 -54 1 1 -27 1 5 9
Interest 15 18 10 6 4 5 3 31 174 442 528 517 505
Depreciation 15 20 14 13 13 26 24 31 35 33 37 24 31
Profit before tax 254 140 253 211 153 162 59 196 225 506 829 384 519
Tax % 31% 33% 31% 34% 32% 32% 30% 27% 27% 28% 25% 24%
Net Profit 171 90 170 137 104 109 40 144 169 360 622 294 464
EPS in Rs 11.84 1.23 9.02 7.06 7.11 2.52 9.67 11.38 24.41 42.89 20.18 32.37
Dividend Payout % 16% 13% 10% 15% 21% 27% 70% 29% 29% 22% 20% 42%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.08%
5 Years:39.48%
3 Years:31.64%
TTM:-5.31%
Compounded Profit Growth
10 Years:12.21%
5 Years:32.17%
3 Years:20.26%
TTM:25.52%
Stock Price CAGR
10 Years:15.93%
5 Years:27.55%
3 Years:17.35%
1 Year:19.22%
Return on Equity
10 Years:14.67%
5 Years:16.89%
3 Years:18.72%
Last Year:9.90%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
14 14 14 14 15 15 14 14 14 14 15 15 15
Reserves 695 780 932 1,045 1,126 1,203 1,156 1,281 1,422 1,772 2,871 3,039 3,294
Borrowings 145 0 108 0 0 0 0 795 2,589 5,067 5,323 5,115 4,717
833 621 786 456 411 564 694 868 1,086 1,605 2,278 2,313 2,571
Total Liabilities 1,688 1,415 1,840 1,516 1,552 1,782 1,864 2,958 5,112 8,458 10,487 10,482 10,597
83 74 93 90 345 311 307 300 292 294 300 302 334
CWIP 2 0 147 200 0 0 0 0 0 0 0 0 0
Investments 43 49 51 59 94 148 293 814 1,231 1,767 2,807 2,686 2,674
1,559 1,291 1,549 1,168 1,113 1,323 1,264 1,844 3,589 6,398 7,380 7,494 7,589
Total Assets 1,688 1,415 1,840 1,516 1,552 1,782 1,864 2,958 5,112 8,458 10,487 10,482 10,597

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
148 -14 -34 37 125 -33 140 -98 -1,242 -1,980 248 206
-48 -19 -162 -39 33 -59 4 -606 -380 -314 -157 4
369 -177 87 -133 -43 -26 -90 747 1,718 2,420 -98 -142
Net Cash Flow 470 -210 -110 -135 115 -119 55 44 96 125 -7 68

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 43% 20% 28% 20% 13% 13% 10% 14% 13% 18% 18% 11%
Debtor Days 166 180 173 166 155 337 377 279 240 239 138 225
Inventory Turnover 4.33 2.23 3.21 2.44 2.73 3.12 4.43 23.66 21,364.89 30,570.44