Motilal Oswal posts file Rs 1,400 cr revenue in Q1. Right here’s what Chairman Raamdeo Agrawal says – Motilal Oswal’s file efficiency in Q1 FY26

Motilal Oswal Group has reported its highest-ever quarterly revenue of over Rs 1,400 crore within the first quarter of FY26. Chairman Raamdeo Agrawal credited the efficiency to robust momentum throughout all enterprise segments, with distinctive beneficial properties within the capital market. The corporate noticed substantial year-on-year development in each working income and backside line, with 24% development in working income and 21% development in internet revenue.

In accordance with information compiled by ET Now, the efficiency was pushed by sturdy exercise within the Asset Administration Firm (AMC), Personal Wealth Administration (PWM), and capital market verticals. Moreover, the Treasury phase additionally delivered robust returns, contributing considerably to the group’s profitability.

Agrawal famous that Motilal Oswal’s AMC phase posted the best development, with a 70–75% enhance in AUM. The PWM phase additionally witnessed a pointy rise, including to the robust total revenue determine of Rs 1,430 crore. Within the capital market vertical, the corporate grew to become the main QIP (Certified Institutional Placement) supervisor, elevating roughly Rs 30,000 crore for Indian corporates through the quarter.

The Treasury enterprise, too, delivered robust beneficial properties, benefiting from a market rally of 9–10%, with the Treasury portfolio rising 14–15%. Raamdeo Agrawal described the efficiency as the most important quarterly revenue within the firm’s historical past.

Brokerage earnings noticed a muted efficiency resulting from regulatory framework adjustments, the expiry cycle, and a excessive base from September 2024. Raamdeo Agrawal acknowledged that one other quarter of weak efficiency is predicted on this phase till the height base impact phases out. Regardless of this, he famous that brokerage continues to contribute almost 50% to the group’s income and revenue.

The muted displaying in brokerage was offset by the outperformance in different enterprise verticals. By the fourth quarter of FY26, Agrawal expects brokerage to point out 30–40% year-on-year development, relying on how regulatory actions play out and market sentiment evolves.

Commenting on the long run, Raamdeo Agrawal talked about that no phase of Motilal Oswal Group is presently deliberate to go public. Whereas housing finance could also be thought of for a future itemizing, the remainder of the capital market companies are anticipated to remain consolidated below one entity. Every phase is claimed to be drawing energy from the others.

Agrawal additionally expressed reduction over the lifting of restrictions on Jane Avenue by SEBI, stating that whereas they weren’t direct purchasers, the broader market volumes may now stabilize because of the transfer.

Motilal Oswal’s chairman highlighted the capital market growth that started in 2020 and continues to be pushed by retail participation. He cited the rise in demat accounts from 40 million to 200 million as a key metric, with projections of an additional leap to 400 million in 5 years.

The group has noticed an increase in each new and returning purchasers, attributing it to raised returns in equities in comparison with fixed-income devices. Agrawal famous that whereas company earnings in Q1 had been largely weak, macroeconomic indicators resembling inflation, rates of interest, and liquidity stay supportive. He forecasted a 20–25% development trajectory for the capital market sector over the subsequent 5 to seven years.

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