Motilal Oswal Home Finance - Unlisted Shares
Fundamentals
- Current Price
- ₹11.8
- Market Cap
- ₹7,182.20 Cr
- ISIN
- INE658R01011
- Face Value
- ₹1
- P/E Ratio
- 56.19
- EPS
- ₹0.21
- P/B Ratio
- 5.02
- Book Value
- ₹2.35
- Debt / Equity Ratio
- 2.59
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue from Operations | 630.0 | 577.99 | 526.80 | 521.70 |
| Growth % | 8.99% | 9.72% | 0.98% | -3.24% |
| Operating Expenses | 212.1 | 162.17 | 134.14 | 174.17 |
| Growth % | 30.79% | 20.90% | -22.98% | 9.06% |
| Operating Profit | 417.8 | 415.82 | 392.66 | 347.53 |
| Op. Profit Margin % | 66.33% | 71.94% | 74.54% | 66.61% |
| Other Income | 21.6 | 11.09 | 5.13 | 4.50 |
| Finance Costs | 267.5 | 250.42 | 218.56 | 229.03 |
| Depreciation | 5.5 | 5.21 | 3.69 | 4.69 |
| Profit Before Tax | 166.4 | 171.28 | 175.54 | 118.31 |
| Tax | 36.2 | 38.76 | 39.18 | 23.42 |
| Tax % | 21.73% | 6.71% | 7.44% | 4.49% |
| Profit After Tax | 130.3 | 132.52 | 136.36 | 94.89 |
| Growth % | -1.71% | -2.82% | 43.70% | 135.87% |
| PAT % | 20.68% | 22.93% | 25.88% | 18.19% |
| Diluted EPS | 0.21 | 0.22 | 0.23 | 0.16 |
Company Financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Equity Capital | 607.1 | 604.00 | 603.34 | 602.71 |
| Reserves | 821.5 | 683.14 | 544.38 | 404.26 |
| Total Equity | 1428.6 | 1,287.14 | 1,147.72 | 1,006.97 |
| Borrowings | 3702.9 | 2994.2 | 2888.8 | 2606.5 |
| Provision | 9.8 | 5.53 | 4.39 | 4.15 |
| Other Non-Current Liabilities | 4.5 | 3.46 | 2.76 | 2.51 |
| Total Non current Liabilities | 3717.2 | 3003.2 | 2895.9 | 2613.1 |
| Borrowings | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade Payables | 17.4 | 11.4 | 4.7 | 7.3 |
| Other Current Liabilities | 366.6 | 250.3 | 99.7 | 135.6 |
| Total Current Liabilities | 384.0 | 142.9 | 104.4 | 261.7 |
| Equity + Liabilities | 5529.8 | 4552.1 | 4148.0 | 3763.0 |
| Fixed Assets (incl. WIP) | 16.2 | 13.88 | 14.88 | 10.45 |
| Other Non Current Assets | 26.2 | 19.21 | 26.31 | 36.21 |
| Total Non current Assets | 42.3 | 33.09 | 41.19 | 46.66 |
| Trade Receivables | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & Cash Equivalents | 629.0 | 471.9 | 318.8 | 273.5 |
| Other Current Assets | 4858.5 | 4047.1 | 3788.0 | 3442.9 |
| Total Current Assets | 5487.5 | 4519.0 | 4106.8 | 3716.4 |
| Total Assets | 5529.8 | 4552.1 | 4148.0 | 3763.0 |
Shareholding Pattern
- Motilal Oswal Financial Services Limited
- 75.1%
- Motilal Oswal Finvest Limited
- 9.91%
- Motilal Oswal Wealth Limited
- 7.96%
- Motilal Oswal Investment Advisors Limited
- 3.97%
- Others
- 3.06%
Strengths & Weaknesses
Strengths
- Strong parent backing: Nearly 98% owned by the Motilal Oswal group, which has already invested ₹850 Cr into the company and provides a ₹500 Cr standby credit line.
- High Capital Adequacy: It’s Capital adequacy ratio of 40.8% is nearly 3x the regulatory minimum ~15%, meaning the company holds far more safety capital than required.
- Growing loan book: Loan disbursements jumped 78% year-on-year to ₹1,794 Cr in FY25, up from ₹1,007 Cr in FY24. This is the highest disbursement figure the company has ever posted and signals that the sales engine. MOHFL's loan book stands at ₹4,857 Cr as of March 2025, growing 20% YoY at a 3-year CAGR of ~13%.
- Efficient loan collection: Collection efficiency hit 124.3% in FY25 (including prepayments), and the company now has a dedicated 480+ member collections team. Credit cost has als dropped from ~2% in FY21–22 to just 0.02% in FY25.
Weaknesses
- Decreasing ROA: Return on assets has steadily fallen from 3.5% in FY23 to 2.6% FY25. Even though the loan book has grown, ROA has further fallen to 1.8% in Q1FY26.
- Vulnerable borrower segment: It lends primarily to low and middle-income groups in the affordable housing space, with an average loan size of ~₹10 lakh across 113 branches in 12 states. While this is a large market, these borrowers are more exposed to job losses and income shocks during economic slowdowns, which can lead to a quick spike in defaults.
- Geographic Concentration: The loan book remains heavily concentrated in a handful of states, with the top three accounting for a large majority of AUM making it vulnerable to geographical risk.
About Motilal Oswal Home Finance
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.Motilal Oswal Home Finance Limited (MOHFL), promoted by the Motilal Oswal Group, provides one of the fastest turn-around times for processing applications, enabling credit access on fair terms. Provision of value added proposition like Property Services and Insurance Services, and best in class service for customer segments makes MOHFL the preferred choice of over 84,000 customers in the lower middle income segment.
Board of Directors
- Motilal Oswal - Non-Executive Director
- Raamdeo Agarawal - Non-Executive Director
- Sukesh Bhowal - Managing Director
- S S Rana - Independent Director
- Divya Momaya - Independent Director
- Neha Gada - Independent Director
Senior Management
- Bhavin Shah - Chief Financial Officer
- Shobit Doru - Chief Operating Officer
- Sukesh Bhowal - Chief Executive Officer