Motilal Oswal Home Finance - Unlisted Shares
Fundamentals
- Current Price
- ₹19.5
- Market Cap
- ₹12,377.62 Cr
- ISIN
- INE658R01011
- Face Value
- ₹1
- P/E Ratio
- 93.18
- EPS
- ₹0.22
- P/B Ratio
- 9.62
- Book Value
- ₹2.13
- Debt / Equity Ratio
- 2.16
Key Financials
Profit & Loss
| Metric | 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 |
Company Financials
| Metric | 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 |
Shareholding Pattern
- Motilal Oswal Financial Services Limited
- 75.3%
- Motilal Oswal Asset Management Company Limited
- 0.0%
- Motilal Oswal Investment Advisors Limited
- 4.3%
- Motilal Oswal Wealth Limited
- 8.0%
- Motilal Oswal Finvest Limited
- 9.9%
- Mr. Motilal Oswal
- 0.0%
- Mr. Raamdeo Agrawal
- 0.0%
- Others
- 2.5%
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.
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. It commenced operations on May 22, 2014. As of June 30, 2024, the company’s loan portfolio stood at Rs 4,098 crore.
Board of Directors
- Mr. Motilal Oswal - Chairman & Non-Executive Director
- Mr. Raamdeo Agarawal - Non-Executive Director
- Mr. Sukesh Bhowal - Managing Director and Chief Executive Officer
- Mrs. Divya Momaya - Independent Director
- Mr. P. H. Ravikumar - Independent Director
- Mrs. Neha Gada - Independent Director
Senior Management
- Mr. Bhavin Shah - Chief Financial Officer
- Mr. Sunny Ganatra - Mr. Sunny Ganatra
- Mr. Sukesh Bhowal - Managing Director and Chief Executive Officer