Motilal Oswal Home Finance

Platform	Last Traded Price	Min Quantity

Strengths & Weaknesses

Strengths

Parental Support: MOHFL, a subsidiary of Motilal Oswal Financial Services (MOFSL), benefits from strong backing, with the parent holding a 98% stake. MOFSL, a leader in capital markets, provides diverse services such as broking, asset management, and investment banking, ensuring MOHFL’s growth and stability.

Solid Capitalization: MOFSL’s healthy capitalization, with a consolidated net worth of Rs 8,768 crore and gearing of 1.6x, supports MOHFL's operations. The company also maintains a solid capital adequacy ratio and expects continued capital support from its parent

Resource Mobilization: MOHFL benefits from its association with MOFSL for raising funds, with borrowings of Rs 3,000 crore as of June 2024. The company's cost of borrowing is stable at around 8.4%.

Weaknesses

Track Record in Scaling Lending: MOHFL faced asset quality issues in 2018 and 2019, with NPAs rising to 9.3% by March 2019. However, corrective measures, including strengthening management and improving collections, have led to improved asset quality and reduced slippages.

Slow Loan Book Growth: Due to legacy asset quality challenges, the company curtailed disbursements in 2019 and 2020. While growth has resumed, the loan book remains relatively flat, and the company’s ability to scale operations profitably in the current economic environment is a key focus area.

Balance Sheet	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Equity Capital	604.00	603.34	602.71	601.78	600.87	601.30
Reserves	683.14	544.38	404.26	307.75	225.74	266.08
Total Equity	1,287.14	1,147.72	1,006.97	909.53	826.61	867.39
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00
Provision	5.53	4.39	4.15	3.04	2.76	2.56
Other Non-Current Liabilities	3.46	2.76	2.51	1.39	2.89	3.51
Total Non current Liabilities	8.99	7.15	6.66	4.43	5.65	6.08
Borrowings	2,780.25	2,276.67	1,860.27	1,703.21	1,550.55	1,439.79
Provisions	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Liabilities	475.02	716.44	889.12	1,280.41	2,185.27	1,574.15
Total Current Liabilities	3,255.96	2,993.11	2,749.39	2,983.62	3,735.83	3,013.93
Equity + Liabilities	4,552.09	4,147.98	3,763.02	3,897.58	4,568.08	3,887.39
Fixed Assets (incl. WIP)	13.88	14.88	10.45	9.05	14.19	15.93
Other Non Current Assets	19.21	26.31	36.21	60.62	147.94	113.37
Total Non current Assets	33.09	41.19	46.66	69.67	162.13	129.30
Trade Receivables	0.00	0.00	0.15	4.97	2.45	1.25
Cash & Cash Equivalents	443.34	275.05	231.04	319.59	79.97	113.42
Other Current Assets	4,075.66	3,831.74	3,485.17	3,503.35	4,323.54	3,643.42
Total Current Assets	4,519.00	4,106.79	3,716.36	3,827.91	4,405.95	3,758.09
Total Assets	4,552.09	4,147.98	3,763.02	3,897.58	4,568.08	3,887.39

Profit & Loss	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Revenue from Operations	577.99	526.80	521.70	539.19	573.00	641.47
Growth %	9.72%	0.98%	-3.24%	-5.90%	-10.67%	0
Operating Expenses	162.17	134.14	174.17	159.70	165.47	451.42
Growth %	20.90%	-22.98%	9.06%	-3.49%	-63.34%	0
Operating Profit	415.82	392.66	347.53	379.49	407.54	190.05
Op. Profit Margin %	71.94%	74.54%	66.61%	70.38%	71.12%	29.63%
Other Income	11.09	5.13	4.50	6.33	3.44	6.95
Finance Costs	250.42	218.56	229.03	288.90	343.26	404.06
Depreciation	5.21	3.69	4.69	6.47	6.80	4.49
Profit Before Tax	171.28	175.54	118.31	90.45	60.92	-211.56
Tax	38.76	39.18	23.42	50.22	21.84	-74.67
Tax %	6.71%	7.44%	4.49%	9.31%	3.81%	-11.64%
Profit After Tax	132.52	136.36	94.89	40.23	39.08	-136.88
Growth %	-2.82%	43.70%	135.87%	2.95%	-128.55%	0
PAT %	22.93%	25.88%	18.19%	7.46%	6.82%	-21.34%
Diluted EPS	0.22	0.23	0.16	0.07	0.06	-0.25

Shareholding Pattern

Color	Shareholder	Holding
	Motilal Oswal Financial Services Limited	75.30%
	Motilal Oswal Asset Management Company Limited	0.00%
	Motilal Oswal Investment Advisors Limited	4.30%
	Motilal Oswal Wealth Limited	8.00%
	Motilal Oswal Finvest Limited	9.90%
	Mr. Motilal Oswal	0.00%
	Mr. Raamdeo Agrawal	0.00%
	Others	2.50%

Fundamentals

Quick Insights

Parental Support: MOHFL, a subsidiary of Motilal Oswal Financial Services (MOFSL), benefits from strong backing, with the parent holding a 98% stake. MOFSL, a leader in capital markets, provides diverse services such as broking, asset management, and investment banking, ensuring MOHFL’s growth and stability.

Market Cap₹12,377.62 Cr

PE Ratio93.18

EPS₹0.22

Dividend Yield-

Book Value₹2.13 Cr

Debt/Equity2.16

Price/Book9.62

Price/Sales-

Industry PE-

Sales₹577.99 Cr

Profit After Tax₹132.52 Cr

Share Capital₹604 Cr

Shares Outstanding-

ISININE658R01011

SectorFinancial Services/Mortgages

Symbol-

About Company

MOHFL, the housing finance subsidiary of MOFSL, was incorporated in October 2013 and received its certificate of registration as a housing finance institution from NHB in May 2014. It commenced operations on May 22, 2014. As of June 30, 2024, the company’s loan portfolio stood at Rs 4,098 crore.

Quick Insights

Parental Support: MOHFL, a subsidiary of Motilal Oswal Financial Services (MOFSL), benefits from strong backing, with the parent holding a 98% stake. MOFSL, a leader in capital markets, provides diverse services such as broking, asset management, and investment banking, ensuring MOHFL’s growth and stability.

Market Cap₹12,377.62 Cr

PE Ratio93.18

EPS₹0.22

Dividend Yield-

Book Value₹2.13 Cr

Debt/Equity2.16

Price/Book9.62

Price/Sales-

Industry PE-

Sales₹577.99 Cr

Profit After Tax₹132.52 Cr

Share Capital₹604 Cr

Shares Outstanding-

ISININE658R01011

SectorFinancial Services/Mortgages

Symbol-

About Company

Strengths

Resource Mobilization: MOHFL benefits from its association with MOFSL for raising funds, with borrowings of Rs 3,000 crore as of June 2024. The company's cost of borrowing is stable at around 8.4%.

Weaknesses

Annual Reports

FY FY FY FY FY

Balance Sheet	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Equity Capital	604.00	603.34	602.71	601.78	600.87	601.30
Reserves	683.14	544.38	404.26	307.75	225.74	266.08
Total Equity	1,287.14	1,147.72	1,006.97	909.53	826.61	867.39
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00
Provision	5.53	4.39	4.15	3.04	2.76	2.56
Other Non-Current Liabilities	3.46	2.76	2.51	1.39	2.89	3.51
Total Non current Liabilities	8.99	7.15	6.66	4.43	5.65	6.08
Borrowings	2,780.25	2,276.67	1,860.27	1,703.21	1,550.55	1,439.79
Provisions	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Liabilities	475.02	716.44	889.12	1,280.41	2,185.27	1,574.15
Total Current Liabilities	3,255.96	2,993.11	2,749.39	2,983.62	3,735.83	3,013.93
Equity + Liabilities	4,552.09	4,147.98	3,763.02	3,897.58	4,568.08	3,887.39
Fixed Assets (incl. WIP)	13.88	14.88	10.45	9.05	14.19	15.93
Other Non Current Assets	19.21	26.31	36.21	60.62	147.94	113.37
Total Non current Assets	33.09	41.19	46.66	69.67	162.13	129.30
Trade Receivables	0.00	0.00	0.15	4.97	2.45	1.25
Cash & Cash Equivalents	443.34	275.05	231.04	319.59	79.97	113.42
Other Current Assets	4,075.66	3,831.74	3,485.17	3,503.35	4,323.54	3,643.42
Total Current Assets	4,519.00	4,106.79	3,716.36	3,827.91	4,405.95	3,758.09
Total Assets	4,552.09	4,147.98	3,763.02	3,897.58	4,568.08	3,887.39

Profit & Loss	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Revenue from Operations	577.99	526.80	521.70	539.19	573.00	641.47
Growth %	9.72%	0.98%	-3.24%	-5.90%	-10.67%	0
Operating Expenses	162.17	134.14	174.17	159.70	165.47	451.42
Growth %	20.90%	-22.98%	9.06%	-3.49%	-63.34%	0
Operating Profit	415.82	392.66	347.53	379.49	407.54	190.05
Op. Profit Margin %	71.94%	74.54%	66.61%	70.38%	71.12%	29.63%
Other Income	11.09	5.13	4.50	6.33	3.44	6.95
Finance Costs	250.42	218.56	229.03	288.90	343.26	404.06
Depreciation	5.21	3.69	4.69	6.47	6.80	4.49
Profit Before Tax	171.28	175.54	118.31	90.45	60.92	-211.56
Tax	38.76	39.18	23.42	50.22	21.84	-74.67
Tax %	6.71%	7.44%	4.49%	9.31%	3.81%	-11.64%
Profit After Tax	132.52	136.36	94.89	40.23	39.08	-136.88
Growth %	-2.82%	43.70%	135.87%	2.95%	-128.55%	0
PAT %	22.93%	25.88%	18.19%	7.46%	6.82%	-21.34%
Diluted EPS	0.22	0.23	0.16	0.07	0.06	-0.25

Shareholding Pattern

Color	Shareholder	Holding
	Motilal Oswal Financial Services Limited	75.30%
	Motilal Oswal Asset Management Company Limited	0.00%
	Motilal Oswal Investment Advisors Limited	4.30%
	Motilal Oswal Wealth Limited	8.00%
	Motilal Oswal Finvest Limited	9.90%
	Mr. Motilal Oswal	0.00%
	Mr. Raamdeo Agrawal	0.00%
	Others	2.50%

Board of Directors

Mr. Motilal OswalChairman & Non-Executive Director

Mr. Raamdeo AgarawalNon-Executive Director

Mr. Sukesh BhowalManaging Director and Chief Executive Officer

Mrs. Divya MomayaIndependent Director

Mr. P. H. RavikumarIndependent Director

Mrs. Neha GadaIndependent Director

Senior Management

Mr. Bhavin ShahChief Financial Officer

Mr. Sunny GanatraMr. Sunny Ganatra

Mr. Sukesh BhowalManaging Director and Chief Executive Officer