Motilal Oswal Financial Services cash flow

Latest FY26

Cash from operations: −₹6,071cr₹1,215 cr in FY25
Capital spending: ₹89.0cr−11.5% on FY25
Free cash flow: −₹6,160cr₹1,114 cr in FY25
Cash from financing: ₹6,154cr+725.9% on FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	111	98.8	82.6	58.4
	—	41.6	8.7	54.0	42.8
	—	13.2	0.0	0.0	0.0
	—	−0.4	11.8	0.0	−0.6
	—	−22.0	0.0	0.0	0.0
	—	197	−1,290	−1,465	−139
	—	76.5	58.8	24.9	29.0
	—	10.9	2.1	0.6	4.0
	—	−20.6	0.0	9.3	11.5
	—	−763	−0.1	0.0	4.2
	—	−1,692	−495	−927	−41.5
	—	−10.6	0.0	0.0	0.2
	—	199	−846	−71.4	−2,276
	—	−7,714	−35.2	45.8	−80.9
	—	−9.0	0.0	−2,845	0.0
	—	0.0	0.0	44.0	0.0
	—	0.0	2,877	−514	−2,974
	—	256	−243	2,061	−252
	—	1,381	−1,564	513	1,617
	—	26.9	−14.3	59.6	−5.1
	—	0.0	0.0	0.0	0.7
	—	−3.2	−15.6	−16.0	−17.6
	—	40.5	0.0	0.0	0.0
Cash from operating activities
	3,420	2,465	3,226	3,032	1,242
	—	−7,873	−1,446	−2,943	−4,017
	—	−5,408	1,780	88.9	−2,775
	—	0.0	−0.5	−1.5	0.0
	—	0.0	−10.0	−8.6	−8.8
	—	663	555	428	274
	—	−6,071	1,215	−349	−3,058
Cash from investing activities
	—	71.8	101	0.0	168
	—	17.2	0.0	−5.4	0.0
	—	0.0	−180	−151	0.0
	—	0.0	−3.2	0.0	0.0
	—	0.0	1,878	541	0.0
	—	0.0	1,074	429	0.0
	—	9,941	0.0	0.0	483
	—	9,049	0.0	0.0	353
	—	22.0	0.5	8.6	8.8
	—	0.4	10.0	1.5	0.6
	—	−958	−1,077	−247	−287
Cash from financing activities
	—	37.6	71.7	77.3	10.6
	—	0.0	0.0	0.0	198
	—	3.7	28.9	0.0	0.0
	—	5,222	432	576	1,128
	—	1,302	1,476	2,894	2,996
	—	0.0	922	0.0	0.0
	—	0.0	30.1	33.5	4.2
	—	13.2	11.8	0.0	0.0
	—	361	300	252	148
	—	−36.9	0.2	44.2	0.0
	—	6,154	745	3,305	3,784
	—	−875	882	2,709	439
	—	−875	882	2,709	439
	—	—	—	5,286	2,576
Reference items
	5,116	3,870	4,623	4,066	1,876
	45.5%	41.3%	54.9%	57.5%	44.9%
	−6,160	−6,160	1,114	−354	−3,225
	—	309	2,088	—	—
	−₹102.34	−₹102.34	₹18.51	−₹5.89	−₹53.59
	—	−3.24×	0.48×	−0.14×	−3.27×
	—	663	555	428	274
	—	13.2	11.8	—	—

Open the chart

From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

MOTILALOFS₹986.10

Motilal Oswal Financial Services Ltd.

· Banking & Finance

₹ CrorePeersANGELONE IIFLCAPS 360ONE M&MFIN LTF TATAINVEST IREDA ICICIAMCMcap ₹59,349 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	58.4	82.6	98.8	110.7	—
+ Impairment Loss / (Reversal)	42.8	54.0	8.7	41.6	—
+ Finance Costs	0.0	0.0	0.0	13.2	—
+ Interest Income	-0.6	0.0	11.8	-0.4	—
+ Dividend Income	0.0	0.0	0.0	-22.0	—
+ Fair Value (Gains) / Losses	-138.8	-1,465.1	-1,290.4	196.8	—
+ Share-based Payments	29.0	24.9	58.8	76.5	—
+ Unrealised FX (Gain) / Loss	4.0	0.6	2.1	10.9	—
+ Other Non-cash Items	11.5	9.3	0.0	-20.6	—
+ Other — Cash Effects are Investing / Financing	4.2	0.0	-0.1	-762.7	—
Changes in Working Capital
+ Trade Receivables — Current	-41.5	-927.0	-495.2	-1,692.3	—
+ Trade Receivables — Non-current	0.2	0.0	0.0	-10.6	—
+ Other Financial Assets — Current	-2,276.2	-71.4	-845.8	198.5	—
+ Other Financial Assets — Non-current	-80.9	45.8	-35.2	-7,713.9	—
+ Other Current Assets	0.0	-2,844.8	0.0	-9.0	—
+ Other Non-current Assets	0.0	44.0	0.0	0.0	—
+ Other Bank Balances	-2,974.2	-514.2	2,877.3	0.0	—
+ Trade Payables — Current	-252.5	2,061.5	-243.0	255.9	—
+ Other Financial Liabilities — Current	1,616.8	513.3	-1,564.4	1,381.2	—
+ Other Financial Liabilities — Non-current	-5.1	59.6	-14.3	26.9	—
+ Other Current Liabilities	0.7	0.0	0.0	0.0	—
+ Provisions — Current	-17.6	-16.0	-15.6	-3.2	—
+ Provisions — Non-current	0.0	0.0	0.0	40.5	—
Cash from Operating Activities
Profit Before Tax (per I/S)	1,242.3	3,031.9	3,226.3	2,465.0	3,420.5
+ Total Adjustments (incl. Working Capital)	-4,017.0	-2,943.0	-1,446.5	-7,872.6	—
Cash from Operations (pre-tax)	-2,774.8	88.9	1,779.8	-5,407.6	—
+ Interest Received — Operating	0.0	-1.5	-0.5	0.0	—
+ Dividends Received — Operating	-8.8	-8.6	-10.0	0.0	—
+ Income Taxes Paid	274.3	427.8	554.7	663.1	—
Cash from Operating Activities	-3,057.9	-349.0	1,214.6	-6,070.7	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	167.5	0.0	100.6	71.8	—
+ Acq of Intangible Assets	0.0	-5.4	0.0	17.2	—
+ Disp of Fixed Assets	0.0	-150.8	-180.4	0.0	—
+ Disp of Intangible Assets	0.0	0.0	-3.2	0.0	—
+ Acq of Investment Property	0.0	540.5	1,877.5	0.0	—
+ Disp of Investment Property	0.0	428.9	1,074.0	0.0	—
+ Purchase of Investments (Equity / Debt)	482.9	0.0	0.0	9,941.3	—
+ Sale of Investments (Equity / Debt)	353.5	0.0	0.0	9,049.5	—
+ Dividends Received — Investing	8.8	8.6	0.5	22.0	—
+ Interest Received — Investing	0.6	1.5	10.0	0.4	—
Cash from Investing Activities	-287.5	-246.9	-1,077.3	-958.5	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	10.6	77.3	71.7	37.6	—
+ Buyback / Redemption of Own Shares	198.4	0.0	0.0	0.0	—
+ Proceeds — Change in Ownership of Subsidiaries	0.0	0.0	28.9	3.7	—
+ Proceeds from Debentures / Notes / Bonds	1,128.1	575.8	431.7	5,221.9	—
+ Proceeds from Borrowings	2,996.3	2,893.9	1,475.9	1,301.6	—
+ Repayment of Borrowings	0.0	0.0	921.7	0.0	—
+ Payment of Lease Liabilities	4.2	33.5	30.1	0.0	—
+ Interest Paid	0.0	0.0	11.8	13.2	—
+ Dividends Paid	148.3	252.4	299.9	360.7	—
+ Other Inflows / (Outflows) — Financing	0.0	44.2	0.2	-36.9	—
Cash from Financing Activities	3,784.1	3,305.2	745.1	6,154.0	—
Net Changes in Cash (pre-FX)	438.8	2,709.4	882.5	-875.2	—
Net Changes in Cash	438.8	2,709.4	882.5	-875.2	—
Closing Cash	2,576.3	5,285.7	—	—	—
Reference Items
EBITDA	1,876.5	4,065.9	4,623.5	3,869.7	5,115.9
EBITDA Margin %	44.92	57.53	54.93	41.28	45.45
Free Cash Flow (CFO − Capex)	-3,225.4	-354.4	1,114.0	-6,159.7	-6,159.7
Free Cash Flow to Equity	—	—	2,088.4	308.6	—
Free Cash Flow per Basic Share	-53.59	-5.89	18.51	-102.34	-102.34
Cash Flow to Net Income	-3.27	-0.14	0.48	-3.24	—
Cash Paid for Taxes	274.3	427.8	554.7	663.1	—
Cash Paid for Interest	—	—	11.8	13.2	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.