Financials Motilal Oswal Financial Services Limited

Equities

Market Closed - NSE India S.E. Other stock markets 07:42:31 2024-04-30 am EDT			5-day change	1st Jan Change
2,377 ^INR	-4.71%		+2.10%	+91.55%

Apr. 26	Transcript : Motilal Oswal Financial Services Limited, Q4 2024 Earnings Call, Apr 26, 2024
Apr. 26	Motilal Oswal Financial Services' Consolidated Profit Soars in Fiscal Q4; Shares Jump 4%	MT

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	87,714	73,597	91,608	129,677	90,292	354,175	-	-
Enterprise Value (EV) ¹	87,714	73,597	91,608	129,677	90,292	248,358	354,175	354,175
P/E ratio	30.1 x	40.7 x	7.55 x	9.84 x	9.74 x	10.2 x	15.2 x	16.3 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	3.56 x	3.12 x	2.53 x	3.02 x	2.16 x	3.51 x	5.18 x	4.56 x
EV / Revenue	3.56 x	3.12 x	2.53 x	3.02 x	2.16 x	3.51 x	5.18 x	4.56 x
EV / EBITDA	-	-	-	-	4.81 x	6.11 x	10 x	9.1 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	2.87 x	2.39 x	2.12 x	2.29 x	1.44 x	4.25 x	3.59 x	3.03 x
Nbr of stocks (in thousands)	145,680	148,067	146,620	149,063	147,947	149,007	-	-
Reference price ²	602.1	497.0	624.8	870.0	610.3	2,377	2,377	2,377
Announcement Date	5/11/19	5/11/20	4/29/21	4/28/22	4/27/23	4/26/24	-	-

¹INR in Million²INR

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	24,627	23,576	36,256	42,968	41,771	70,678	68,314	77,654
EBITDA ¹	-	-	-	-	18,765	40,658	35,249	38,910
EBIT ¹	9,012	7,797	19,697	20,710	18,181	39,833	34,579	38,213
Operating Margin	36.6%	33.07%	54.33%	48.2%	43.52%	56.36%	50.62%	49.21%
Earnings before Tax (EBT) ¹	3,844	2,852	14,567	16,158	12,422	30,319	23,560	27,322
Net income ¹	2,940	1,834	12,454	13,098	9,317	24,411	23,282	22,768
Net margin	11.94%	7.78%	34.35%	30.48%	22.3%	34.54%	34.08%	29.32%
EPS ²	20.01	12.20	82.71	88.38	62.66	162.9	156.2	145.7
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	5/11/19	5/11/20	4/29/21	4/28/22	4/27/23	4/26/24	-	-

¹INR in Million²INR

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.9%	5.97%	33.1%	25.8%	15.6%	15.7%	15.1%	15.5%
ROA (Net income/ Total Assets)	2.8%	1.78%	10.3%	8.44%	4.67%	-	-	-
Assets ¹	104,845	102,959	121,137	155,200	199,668	-	-	-
Book Value Per Share ²	210.0	208.0	294.0	381.0	423.0	559.0	662.0	786.0
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	5/11/19	5/11/20	4/29/21	4/28/22	4/27/23	4/26/24	-	-

¹INR in Million²INR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,377 INR

Average target price

2,222 INR

Spread / Average Target

-6.50%

	1st Jan change	Capi.
MOTILAL OSWAL FINANCIAL SERVICES LIMITED	+91.55%	4.24B
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RAYMOND JAMES FINANCIAL, INC.	+9.91%	25.29B
CSC FINANCIAL CO., LTD.	-13.04%	21.01B
LPL FINANCIAL HOLDINGS INC.	+16.64%	20.1B
CHINA MERCHANTS SECURITIES CO., LTD.	+7.33%	16.08B