Motilal Oswal Financial Services Limited · NSE:MOTILALOFS
Motilal Oswal Financial Services — Investor Presentation (February 2024)
77 slides from Motilal Oswal Financial Services's investor presentation, Feb 12, 2024
Slide 1: Investor Meet letter to stock exchanges
February 12, 2024 To, BSE Limited National Stock Exchange of India Limited P. J. Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), Mumbai - 400001 Mumbai - 400051 Security code: 532892 Symbol: MOTILALOFS Sub.: Investor Meet with group of selected in
Slide 2: Investor list and confirmation letter continued
Sr. No. Name 18. ENAM Asset Management Company Pvt. Ltd. 19. Safe Enterprises 20. Amara Capital 21. Aregence Capital 22. Broadview Research Pvt. Ltd. 23. Bay Capital 24. Ashmore Investment Advisors 25. Think Investments 26. Valentis Advisors Pvt. Ltd. 27. Ace Lansdowne Investments Services LLP 28. O
Slide 3: A Compounding Machine – Investor Meet February 2024
A Compounding Machine Investor Meet February-2024
Slide 4: Evolution of MOFSL with robust net worth growth
Evolution of MOFSL with robust net worth growth 2023 Assets Under Advice (AUA) crossed ₹ 4 Lac Cr mark. Recorded highest ever Nine months profit of ₹ 2,001 Cr ₹ 8,267 Cr 2014 ₹ 1,170 Cr Entered into Affordable Housing Finance Business 2010 Asset Management launches its maiden mutual fund offering ₹
Slide 5: MOFSL – A Compounding Machine
MOFSL – A Compounding Machine Revenue in ₹ Cr PAT in ₹ Cr Assets Under Advice (AUA) in ₹ Cr 468 4,196 77 885 18,409 4.4 Lac FY14 FY23 FY14 FY23 FY14 Dec-23 Net Worth in ₹ Cr Nos. of employees India Market Capitalisation Nifty 500 Index ₹ Lakh Cr 1,170 8,267 1,390 10,747 74 258 5,225 14,558 Mar-14 De
Slide 6: Our inspiration – Warren Buffet
Our inspiration – Warren Buffet Operating Business Berkshire Hathaway Insurance, Railroad, Investment Book Twin Business Model Utilities & Energy, $362 Bn. Manufacturing etc 4 Source – Company financials, Capitaline
Slide 7: Berkshire Hathaway’s performance speaks for itself
Berkshire Hathaway’s performance speaks for itself S&P 500 return Berkshire Hathaway Since 1965 with dividends share price return 57 years CAGR return 9.9% 19.8% 515 481 Net Worth ($ Bn) 451 429 352 353 285 243 259 224 192 163 169 136 $25 mn. 111 123 114 78 87 92 59 59 63 59 65 32 0 1 9 11 12 17 24
Slide 8: MOFSL – A TEM Analysis
MOFSL -—A TEM Analysis COMPOUNDING MACHINE
Slide 9: TEM Framework
TEM Framework T Sectoral trends E Endowments – Group’s strength M Moves – Strategic initiatives taken by the Group 7
Slide 10: Trends
Trends COMPOUNDING MACHINE Nae | MomLaL Oswa
Slide 11: Trend #1 - GDP during Amrit Kaal to reach $30tn mark
Trend #1 - GDP during Amrit Kaal to reach $30tn mark Gross Domestic Product ($ Tn) 30.0 27.4 25.0 22.9 20.9 19.1 17.4 15.9 14.5 13.3 12.1 11.1 10.1 9.2 7.7 8.4 6.4 7.0 4.9 5.4 5.9 3.7 4.1 4.5 2.8 2.7 3.2 3.4 2.0 2.1 2.3 2.7 2.7 9 Source: As per internal estimate
Slide 12: Trend #2 - USD 100+ tn savings opportunity
10 FY97 0.1 0.1 FY99 0.1 0.1 FY01 0.1 0.1 FY03 0.1 0.2 FY05 0.2 0.3 FY07 0.3 Source: Motilal Oswal Wealth Creation Study 0.5 FY09 0.4 0.5 Gross Domestic Savings ($ Tn) FY11 0.6 0.6 FY13 0.6 0.6 FY15 0.7 0.7 FY17 0.7 0.9 FY19 0.9 0.8 FY21 0.8 0.9 FY23 1.0 1.1 FY25 1.2 1.3 FY27 1.5 Trend #2 - USD 100+
Slide 13: Trend #3 - Digitization driving exponential retail participation
Trend #3 - Digitization driving exponential retail participation Demat Accounts (in Mn) – Average monthly addition : Pre-covid 5 Lakhs vs Post-covid 25 Lakhs 4.5 160 4.0 Monthly addition Total (RHS) 140 3.5 120 3.0 100 2.5 80 2.0 60 1.5 40 1.0 0.5 20 0.0 0 Dec-13 Aug-14 Apr-15 Dec-15 Aug-16 Apr-17 D
Slide 14: Trend #4 - Digitization driving exponential retail participation
Trend #4 - Digitization driving exponential retail participation Retail ADTO (₹ Tn ) 112.0 61.1 29.7 11.7 4.9 6.9 0.6 0.7 1.1 1.1 1.8 3.1 9MFY24 FY19 FY13 FY14 FY15 FY16 FY17 FY18 FY20 FY21 FY22 FY23 12 Source: BSE and NSE
Slide 15: Trend #5 - Financialization of Savings propelling equities
Trend #5 - Financialization of Savings propelling equities Total Indian Household assets $ 11.1 Tn (FY23) % of Household Assets in Equities 4.7% 4.8 4.7 50.7% 4.3 3.4% 3.9 3.8 5.8% 5.9% 3.4 15.5% 14.0% 2.9 2.7 2.7 Equities Cash Provident & Pension funds Insurance funds 2.2 2.2 Bank deposits Gold Pro
Slide 16: Trend #6 – Mutual Funds Sahi hai
Trend #6 – Mutual Funds Sahi hai – Explosion in retail participation Equity AUM (ex-arbitrage) has grown rapidly SIP flows on a relentless rise, making the markets resilient 27,109 Dec-2023 ₹ Cr ₹ 176 bn 19,348 17,584 Mar-2020 12,695 ₹ 86 bn 10,207 9,219 8,129 Dec-2016 FY18 FY19 FY20 FY21 FY22 FY23
Slide 17: Endowments
Endowments COMPOUNDING MACHINE
Slide 18: Seasoned and leading player in Indian capital market
Seasoned and leading player in Indian capital market 36-year brand Double engine business model Highly professionalised structure Robust business infrastructure & network Research & Advisory powerhouse Solid balance sheet 16
Slide 19: 36-year brand
36-year brand MOFSL awarded ‘Brand of the Year’ at the CNBC TV18 - India Business Leadership Awards 2018 MOFSL was featured in ‘Fortune 500 (India)’ in 2017, 2019, 2020, 2021, and 2022 MOFSL gets featured in ‘Forbes Super 50 Companies’ 2017 & 2018 MOFSL gets listed in ‘Fortune 500 India’s Largest Co
Slide 20: Double Engine Model – Operating Business + Treasury Investments Book
Double Engine Model – Operating Business + Treasury Investments Book Investments are used strategically Engine #1 Engine #2 for operating businesses OPERATING BUSINESSES TREASURY INVESTMENTS • Asset light businesses Synergy • Skin in the game + • Diversified revenue streams • Highly liquid Liquidity
Slide 21: Engine #1 – Operating Business PAT
Engine #1 – Operating Business PAT ₹ Cr 79 119 98 311 349 249 398 471 826 883 1,123 FY14 FY15 FY16 FY17 FY18 FY19 # FY20 FY21 FY22 FY23 FY24E All nos. are excluding carry income #FY19 PAT is lower mainly on account loss in housing finance (HFC) business of ₹ 132 cr due to one time higher provisions.
Slide 22: Engine #2- Treasury Investments PAT (incl. OCI)
Engine #2- Treasury Investments PAT (incl. OCI) ₹ Cr 1,157 1,082 433 314 -2 -1 24 71 49 35 -275 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 9MFY24 20
Slide 23: Total PAT (incl. OCI)
Total PAT (incl. OCI) ₹ Cr Operating PAT Treasury Investments PAT (incl. OCI) 1,999 842 1,552 471 1,260 826 1,157 1,082 882 662 883 349 360 123 284 433 169 311 398 144 314 77 249 -2 119 98 -1 79 71 49 35 24 -275 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 9MFY24 21
Slide 24: Highly professionalised structure
Highly professionalised structure RAAMDEO AGRAWAL MOTILAL OSWAL NAVIN AGARWAL AJAY MENON RAJAT RAJGARHIA AMIT RAMCHANDANI CHAIRMAN MD & CEO MD & CEO – ASSET CEO – RETAIL BROKING CEO – INSTITUTIONAL CEO – INVESTMENT MANAGEMENT AND DISTRIBUTION EQUITIES BANKING A CA by qualification, Mr. A CA by quali
Slide 25: Robust business infrastructure & network
Robust business infrastructure & network R O B U Distribution Network Geographical Reach S 9,300+ Franchisee 2,500+ Business Location T 20,000+ IFAs 98% of PIN codes covered Motilal Oswal Tower - Mumbai I N F R Clients A ~60,00,000 S Motilal Oswal Tower - Ahmedabad T R U C Employees Advisors & Resea
Slide 26: Research & advisory powerhouse
Research & advisory powerhouse Institutional Equities Wealth Management Broking 100+ Research Team & 2,500+ Advisors Alternate Asset Investments Management Investment Banking 24
Slide 27: Strong balance sheet is important not only to survive but also to thrive
Strong balance sheet is important not only to survive but also to thrive Covid -19 pandemic Being resilient over last NBFC crisis in India 36 years and weathered multiple crisis Global Financial Crisis (Lehman Brothers) Importance of net worth in Financial Services sector Ability to absorb the Grab
Slide 28: Moves
Moves 26
Slide 29: Expansion, Diversification & De-risking
Expansion, Diversification & De-risking Demerger of MOSL and Passionate Goes public & IPO subscribed Entered into affordable AUA crossed ₹4.4 lac Cr mark Starts as a sub broking outfit – Investment Management created 26.4 times housing finance business Recorded highest ever nine Prudential Portfolio
Slide 30: Current business structure
Current business structure MOFSL Group Affordable Treasury Capital Markets Asset and Wealth Management Housing Investments Finance Asset Broking & Institutional Investment Wealth Private Equity Management Distribution Equities Banking Management & Real Estate Company 28
Slide 31: TEM Impact – 10-Year net worth CAGR of 22%
TEM Impact – 10-Year net worth CAGR of 22% Operating Business Treasury Investments Dividend Payout Book Value 8,267 per share ₹ Cr ₹ 557 6,252 2,876 5,674 1,719 4,461 1,716 3,050 3,090 1,285 2,890 Book Value 498 226 6,573 1,780 447 5,716 per share 1,170 1,290 1,440 4,792 133 3,390 3,924 ₹ 85 47 2,66
Slide 32: MOFSL Business & Strategy
30 MOFSL Business & Strategy MorTILaL OswaL COMPOUNDING MACHINE
Slide 33: Broking and Distribution
Broking and Distribution - No.1 Full Service Broker 31
Slide 34: No. 1 Full service broker
No. 1 Full service broker Full service brokers Discount Brokers No. 1 full service broker by gross brokerage 32
Slide 35: Well placed with robust advisory network in rising individual wealth
Well placed with robust advisory network in rising individual wealth PHYGITAL strategy has been the business mainstay Strengthening Franchisee network through • Acquisition of smaller regional brokers • UNNATI programme in collaboration with NSE Academy for development and infusion of entrepreneur
Slide 36: India’s largest franchisee house
India’s largest franchisee house Continuous strengthening of Franchisee Vintage of Franchisee 10,0 00 9,00 0 1,802 8,00 0 7,00 0 6,00 0 5,00 0 3,101 4,494 4,00 0 3,00 0 2,00 0 1,313 1,428 1,767 1,933 2,670 3,337 3,772 5,389 7,016 8,345 9,397 1,00 0 - < 2 Years 2 to 5 Years > 5 Years 34
Slide 37: Improvements in market share across segments
Improvements in market share across segments Equity Segment Commodity & Currency Segment 21.9% 4.2% 3.9% 3.4% 2.7% 2.9% 2.8% 7.5% 14.1% 6.1% 5.3% 5.7% 5.7% 5.6% 8.2% 7.6% 6.8% 4.8% 3.7% 2.7% 5.5% 2.4% 2.7% 1.8% FY19 FY20 FY21 FY22 FY23 Dec'23 FY19 FY20 FY21 FY22 FY23 Dec'23 Retail Cash ADTO Retail F
Slide 38: MOFSL ADTO on a rising trend
MOFSL ADTO on a rising trend…. 5,683 37 ₹ Bn 2,469 23 5,647 877 31 2,447 439 85 137 174 234 28 32 51 59 11 15 15 18 846 5 9 8 411 27 42 51 74 121 159 216 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 9MFY24 36
Slide 39: Highest and stable ARPU
Highest and stable ARPU 28,029 26,241 25,477 24,880 23,624 23,842 Focus on quality clients Our client base has grown 3x since 2019, still our ARPU has been stable throughout Supported by host of third party distribution products like MF, insurance, bonds etc FY19 FY20 FY21 FY22 FY23 9MFY24 ARP
Slide 40: Transition to Financial Services Advisory business model
Transition to Financial Services Advisory business model Earlier – Broking Now – Broking + Distribution BROKING BROKING LENDING/ CREDIT MUTUAL FUNDS, SOLUTIONS DEBT, FIXED DEPOSITS ADVISOR ADVISOR FINANCIAL PLANNING (RETIREMENT/ ESTATE, SOPHISTICATED WEALTH WILL ETC.) SOLUTION (PMS/AIF/ INSURANCE PE
Slide 41: Strong growth in distribution AUM with huge cross sell opportunity
Strong growth in distribution AUM with huge cross sell opportunity 26,281 Third party distribution penetration ₹ Cr less than 6% in large client base of 4 21,292 mn 18,215 Increase the distribution team to around 1,000 employees by Mar 2025 13,409 Focus on quality incremental advisor 9,572 9,0
Slide 42: Institutional Equities
Institutional Equities - Research Powerhouse 40
Slide 43: Capital market structure to provide exponential opportunities
Industry - Capital market structure to provide exponential opportunities Nifty500 ownership as on 31st Dec’23 Huge Opportunity for IE & IB 20% 12% 50% Increase in Share 18% through robust retail participation DII Retail FPI Promoters 41 Source – Capitaline
Slide 44: Strong traction in Equity Capital Market transactions
Industry - Strong traction in Equity Capital Market (ECM) transactions QIP IPO 1,20 ,000 60 90,0 00 60 54 ₹ Cr ₹ Cr 51 80,0 00 52 1,00 ,000 50 50 44 42 39 70,0 00 41 80,0 00 40 60,0 00 40 29 50,0 00 30 29 60,0 00 30 30 24 25 22 40,0 00 30,0 00 18 20 40,0 00 20 13 13 12 13 10 1,12,760 20,0 00 8 14,58
Slide 45: Solid track record of Research & Corporate Access awards
Solid track record of Research & Corporate Access awards Focus driven differentiated research products covering: 250+ companies 21 sectors catering to 840+ institutional clients 50+ research & corporate access team Institutional team wins big in Asiamoney poll 2023. Overall Team Ranking
Slide 46: Asset Management
Asset Management - Powered by QGLP 44
Slide 47: Financialization of Savings propelling equities
Industry - Financialization of Savings propelling equities Total Indian Household assets $ 11.1 Tn (FY23) % of Household Assets in Equities 4.7% 4.8 4.7 50.7% 4.3 3.4% 3.9 3.8 5.8% 5.9% 3.4 15.5% 14.0% 2.9 2.7 2.7 Equities Cash Provident & Pension funds Insurance funds 2.2 2.2 Bank deposits Gold Pro
Slide 48: Strong AUM growth of MOAMC
Strong AUM growth of MOAMC ₹ Cr Equity only mutual fund house ~34% share of Alternates (AIF + PMS) in total AUM Net yield on overall AUM at ~73 bps Small Cap NFO garnered highest flows of Rs. 1,250+ Cr in the Small Cap MF category 10,478 20,303 35,640 38,893 28,835 42,453 49,020 45,616 64,85
Slide 49: Turnaround in fund performance yielding the result now
Turnaround in fund performance yielding the result now Performance for past one year Q3FY23 Q3FY24 Total No. of Funds (MF + PMS + AIF) 27 SIP Market Share 0.9% 1.5% No. of funds outperformed benchmark 24 MF Gross Sales Market Share 0.7% 1.9% Mutual Fund 5 MF Net Sales Market Share (0.8)% 3.1% Altern
Slide 50: Private Equity & Real Estate
Private Equity & Real Estate – Glowing track record 48
Slide 51: Huge runway for Private Equity Investments
Industry – Huge runway for Private Equity Investments Underpenetrated PE AUM Private Equity market size $ Bn Poised to PE AUM as % of GDP grow 7.5x India vs. USA 6% 20% 44 189 1,409 2011 2021 2030E Source – MO Alts. estimates Indian PE’s AUM as a % of GDP is a fraction of its global peers. As the ec
Slide 52: Momentum in Private Equity fund raising continues
Industry – Momentum in Private Equity fund raising continues 80,0 00 60 ₹ Cr 52 70,0 00 50 45 60,0 00 42 39 40 50,0 00 40,0 00 30 26 30,0 00 20 20,0 00 10 10,0 00 49,378 21,113 45,064 70,333 39,107 - - CY19 CY20 CY21 CY22 CY23 (till Sep'23) Funds raised Nos. of Funds 50 Source – VCC Edge Insights Q3
Slide 53: Private Equity Fund – Growing domestic private equity house
Private Equity Fund – Growing domestic private equity house 5,00 0 14 26.8% 4,50 0 12 11 22.9% 12 4,00 0 9 10 3,50 0 3,00 0 8 2,50 0 13.9% 6 2,00 0 1,50 0 4 1,00 0 2 500 950 2,300 4,500 - 0 IBEF II IBEF III IBEF IV* IBEF I IBEF II IBEF III Invested AUM (₹ Cr) No. of investments Exited IRR (%) Valued
Slide 54: Real Estate, a key contributor to the India Growth Story
Industry – Real Estate, a key contributor to the India Growth Story Real estate market size Our focus Land Cost Development Cost Profit Poised to $ Bn grow 5x 20% 55% 25% Banks and HFCs are not Our target area allowed to finance land acquisition 60 200 1,000 Next 10 years 2010 2021 2030E ₹ 70,000 Cr
Slide 55: Real Estate Fund – Delivering consistent returns
Real Estate Fund – Delivering consistent returns 1,40 0 37 40 20.5% 35 18.7% 1,20 0 30 18.1% 18.1% 30 1,00 0 25 800 20 600 15 16 15 400 10 200 5 490 1,030 1,150 1,200 - 0 IREF II IREF III IREF IV IREF V IREF II IREF III IREF IV IREF V Invested AUM (₹ Cr) No. of investments Valued IRR (%) Launched IR
Slide 56: Carry income from seven funds to be realized in coming years
Carry income from seven funds to be realized in coming years Illustration of Expected Carry Income for Private Equity Fund Raised IRR- 20% Carry 20% Cumulative Returns Carry Income ₹ 100 after 8 years ₹ 330 ₹ 66 Illustration of Expected Carry Income for Real Estate Fund Raised IRR- 16% Cumulative Re
Slide 57: Wealth Management
Wealth Management -Alpha Strategist 55
Slide 58: Huge opportunity of growing wealth
Industry – Huge opportunity of growing wealth… 2022 2027E 2027E Asset value threshold (USD) Nos. of Nos. of Potential Individuals Individuals Wealth 171 195 $195 Bn > 1 bn Billionaires >30 Mn Potential Wealth Opportunity UHNIs 12,069 160 - 19,119 $574 Bn 170 $2.5 Tn >1 Mn HNIs 7,97,714 16,57,272 $ 1
Slide 59: Robust AUM growth in MO Private Wealth
Robust AUM growth in MO Private Wealth ₹ Cr Open architecture asset distribution model Largest distributor for Motilal Oswal PE & RE funds Group Wealth AUM including Private Client Group (PCG) part of Broking (serving HNI/UHNI) stood at ~₹ 1.38 Lakh Crore as on December 2023 Including PCG, t
Slide 60: Customer centric approach with bouquet of investment solutions
Customer centric approach with bouquet of investment solutions Investment Platform Discretionary & Non Discretionary PMS Alternate Assets Investment Advisory Private Equity Distribution (Mutual Funds, PMS, AIFs) Real Estate Structured Products Private Credit Estate Planning Venture Debt Infrastructu
Slide 61: Investments in RMs to drive the future growth
Investments in RMs to drive the future growth Continued traction in RM addition 7,00 0 250 223 RMs vintage >5 years is 30% Expect to improve the same as RM hiring 6,00 0 200 182 stabilises 5,00 0 144 150 Investments in RM has temporarily 4,00 0 126 129 123 impacted the margin. Expect to 118 reco
Slide 62: Housing Finance
Housing Finance - Turning around 60
Slide 63: Affordable Housing Finance – Secular growth story
Industry – Affordable Housing Finance – Secular growth story AUM of Affordable HFCs AHFCs Growth Overall HFC Growth ₹ Bn 159 50% 41% 38% 140 127 40% 120 28% 102 25% 25% 30% 100 32% 27% 21% 80 15% 20% 13% 14% 60 19% 12-13% 10% 12% 40 9-10% 23 0% 20 -2% -1% 0 -4% -10% Mar-16 Mar-17 Mar-18 Mar-19 Mar-2
Slide 64: Building blocks in place
Building blocks in place AUM / Loan Book Profitability Ratio* Asset Quality AUM – ₹ 3,781 Cr PAT – ₹ 133 Cr NIM – 7.7% Loan Book – ₹ 3,754 Cr GNPA – 2.1% RoA – 3.5% RoE – 12.6% NNPA – 1.3% Housing as % of loan book ~77% Geographical Presence Credit Rating Financial Strength AA Net Worth – ₹ 1,253 Cr
Slide 65: Focusing on strengthening RM and improving productivity
Focusing on strengthening RM and improving productivity Strengthening Sales RM force Improving sales productivity • Sales and lead management is now through digital mode 856 with geo-tagging and geo-fencing capabilities 753 • 100% end to end paperless approval process, with 85% e- 715 sign of loan d
Slide 66: Treasury Investments
Treasury Investments - Skin in the game 64
Slide 67: Strong Growth in treasury investments book over the years
Strong Growth in treasury investments book over the years ₹ Cr 160 728 991 1,130 1,742 1,785 1,749 3,125 4,090 4,326 5,872 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Dec-23 65
Slide 68: Skin in The Game
Skin in The Game Skin in the Game in AMC (₹ Cr) 64,848 AMC AUM 2,657 Sponsor AUM 2,176 Promoter AUM Skin in the game in PE & RE (₹ Cr) 13,619 Total Capital Raised till date 1,342 Sponsor Commitment 260 Promoter AUM 66
Slide 69: Financials
Financials - Capturing compounding 67
Slide 70: Key financial metrics – Strong financial track record
Key financial metrics – Strong financial track record 4 Year PARTICULARS (₹ Cr) FY19 FY20 FY21 FY22 FY23 9MFY24 CAGR Total Revenues 2,456 2,411 2,827 3,839 4,055 13% 3,928 Operating Expense 1,543 1,327 1,610 2,155 2,263 10% 2,064 EBITDA 913 1,084 1,217 1,684 1,792 18% 1,864 Depreciation and Amortiza
Slide 71: Robust Balance Sheet
Robust Balance Sheet Particulars (₹ Cr) Dec 31, 2023 Mar 31, 2023 Net Worth Deployment SOURCES OF FUNDS Net Worth 8,267 6,252 10% Borrowings 12,603 10,310 5% Minority Interest 35 31 15% Total Liabilities 20,905 16,593 70% APPLICATION OF FUNDS Fixed assets (net block) 575 466 Treasury Investments Inv
Slide 72: CSR Activities
CSR Activities - Responsible corporate citizen 70
Slide 73: Promote inclusive growth and equitable development
Promote inclusive growth and equitable development Spent ~₹ 100 Cr since FY15 on CSR activities at group level Committed to continue the same in future too ₹ Cr 17 16 Promoters of the company to donate 10% of 14 the Company’s shareholding towards 13 13 charitable purposes within a period of 10 years
Slide 74: How to think about MOFSL future
How to think about MOFSL future - Sustaining the compounding machine 72
Slide 75: Future is as exciting as past
Future is as exciting as past Engine #1 Operating PAT grew 31% Total Operating PAT Expect to grow at 15-20% CAGR CAGR in last decade Engine #2 Treasury Investments Treasury Investments Book grew 45% CAGR in Maintain / improve existing IRR of 18.5% PAT (incl. OCI) last decade 30% of Operating PAT in
Slide 76: To summarise
To summarise India headed for massive savings boom Retail participation in Capital market on rampage MOFSL has endowments and moves to exploit multiple business opportunities MOFSL continues to be a compounding machine 74
Slide 77: For any query, please contact
For any query, please contact : S H A L IB H A D RA S H A H CHIEF FINANCIAL OFFICER 91-22-7193 4917 / 98190 60032 shalibhadrashah@motilaloswal.com C H E TA N PA RM A R HEAD INVESTOR RELATIONS 91-22-7190 6600 / 74003 12700 chetan.parmar@motilaloswal.com
Motilal Oswal Financial Services — Investor Presentation (February 2024) on 6ix