Motilal Oswal Financial Services reports highest-ever operating PAT of ₹554 crore in Q2, led by growth in key verticals

Brokerage firm Motilal Oswal Financial Services said on Thursday that it has reported its highest-ever operating PAT of ₹554 crore in the second quarter of FY26, and that it grew 11% in the first half of FY26 to ₹1088 crore, led by strong growth in asset management, private wealth and capital markets.

In asset management, the PAT grew 46% year-on-year to ₹180 crore. The total AUM stood at ₹1.77 lakh crore, up 46% year-on-year, primarily driven by Mutual Fund AUM growth of 57%. Its net sales market share is robust at 8.2%, whereas SIP inflows surged 2.2-fold year-on-year to ₹4,172 crore. Motilal Oswal also completed the first close of ₹6,900 crore for IBEF V fund and is planning to close at twice the previous fund raise.

Motilal Oswal said its private wealth management business reported a 23% year-on-year growth in PAT to ₹110 crore. Net sales grew threefold to ₹7,358 crore in the second quarter. The AUM is up 19% year-on-year to ₹1.87 lakh crore, driven by client acquisition and higher productivity.

In the wealth management business, PAT declined 24% to ₹170 crore. The cash volume market share was robust at 7.1% and the F&O Premium market share stands at 8.7%. The total blended ADTO market share stands at 8%. Distribution net flows grew 29% to ₹3,079 crore in the second quarter, and the distribution book grew by 34% CAGR since FY21 to ₹40,544 crore in September 2025.

The PAT of the capital markets, according to Motilal Oswal, grew 24% year-on-year to ₹90 crore. Motilal Oswal said that it was ranked number one across IPOs, QIPs, and Rights Issues in the first half of the financial year.

The housing finance business saw the PAT grow 27% to ₹34 crore. It reported disbursement growth of 48% year-on-year to ₹544 crore, and AUM grew 24% year-on-year to ₹5,236 crore. Its treasury book grew 14% year-on-year to ₹8,957 crore, and the treasury book delivered a healthy XIRR of 18.7% since inception, supported by a 42% CAGR driven by reinvestment of operating profits.

Motilal Oswal also said that its operating PAT grew by a 31% CAGR in the last decade. Net worth has grown nearly tenfold from Mar 2015 to Sept 2025 to ₹12,871 crore, led by an average ROE of 22%.