Q1 2027 Motilal Oswal Financial Services Ltd Earnings Call Transcript
Key Points
- Operating profit after tax grew by 14% year-on-year to INR609 crore, driven by asset and private wealth business growth of 44%.
- Asset management business AUM, including MO alternates, crossed INR2 lakh crore, with a CAGR of 34% since March 2020.
- Annuity businesses now contribute over 66% of group revenues, indicating a shift from transaction-led to annuity-led business model.
- The company has maintained a decadal 10-year compounded operating profit growth of 33% and an average return on equity of 23%.
- Investment banking business completed 11 deals during the quarter, raising over INR10,000 crore, with a strong 48% revenue growth quarter-on-quarter.
- Distribution revenues in the Wealth Management segment fell by 50% year-on-year despite an increase in distribution assets.
- Credit costs in the Housing Finance business increased sharply from 10 bps to 1% quarter-on-quarter.
- Private Wealth business saw flattish growth in overall revenues due to lower TBR revenues.
- The alternate business experienced a tough quarter with net negative flows due to geopolitical scenarios.
- Employee expenses increased by 16% quarter-on-quarter due to annual performance appraisals and increments.
Ladies and gentlemen, good day, and welcome to the Motilal Oswal Financial Services Q1 FY27 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Manish Kayal for the opening remarks. Thank you, and over to you, sir.
Thank you, Albert. Good afternoon, everyone. I welcome all the participants on behalf of Motilal Oswal Financial Services Limited to take time out to attend our Q1 FY27 earnings conference call. We hope that you had an opportunity to go through our investor deck and press release uploaded on stock exchanges and on our website yesterday.
We have also uploaded our Excel data book on our website that has all the operational and financial numbers. Please note that today's discussion may include some forward-looking statements. These forward-looking statements are based on our macro assessment and can vary. To represent the group, we have the senior
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