Motilal Oswal Financial Services Limited

rs,

April 28, 2022 BSE Limited P. J. Towers, Dalal Street, Fort, Mumbai - 400001 Security Code: 532892 National Stock Exchange of India Limi

₹ 10

up.com EARNINGS PRESENTATION Q4FY22 A Diversified Business Model to Create Value FY22 Dividend ₹ 10 per share (₹ 7 Interim + ₹ 3 Final) *Board has decided to consider Buyback program in its meeting

₹ 7

PRESENTATION Q4FY22 A Diversified Business Model to Create Value FY22 Dividend ₹ 10 per share (₹ 7 Interim + ₹ 3 Final) *Board has decided to consider Buyback program in its meeting to be held on

₹ 3

Q4FY22 A Diversified Business Model to Create Value FY22 Dividend ₹ 10 per share (₹ 7 Interim + ₹ 3 Final) *Board has decided to consider Buyback program in its meeting to be held on 17th May CAP

43%

& profit. • Cash market share at multi-year high in FY22 • Acquired 0.9 mn clients in FY22, +43% YoY • NSE Active Clients grew 59% YoY • ADTO grew 106%/99% YoY in Q4FY22/FY22 • Distributio

59%

multi-year high in FY22 • Acquired 0.9 mn clients in FY22, +43% YoY • NSE Active Clients grew 59% YoY • ADTO grew 106%/99% YoY in Q4FY22/FY22 • Distribution AUM at ₹ 168 bn, +31% YoY led by

106%

FY22 • Acquired 0.9 mn clients in FY22, +43% YoY • NSE Active Clients grew 59% YoY • ADTO grew 106%/99% YoY in Q4FY22/FY22 • Distribution AUM at ₹ 168 bn, +31% YoY led by multi fold jump in Net

99%

• Acquired 0.9 mn clients in FY22, +43% YoY • NSE Active Clients grew 59% YoY • ADTO grew 106%/99% YoY in Q4FY22/FY22 • Distribution AUM at ₹ 168 bn, +31% YoY led by multi fold jump in Net Sal

₹ 168

NSE Active Clients grew 59% YoY • ADTO grew 106%/99% YoY in Q4FY22/FY22 • Distribution AUM at ₹ 168 bn, +31% YoY led by multi fold jump in Net Sales • Strong traction in IB revenues HOUS IN G FIN

31%

Clients grew 59% YoY • ADTO grew 106%/99% YoY in Q4FY22/FY22 • Distribution AUM at ₹ 168 bn, +31% YoY led by multi fold jump in Net Sales • Strong traction in IB revenues HOUS IN G FIN AN CE

136%

jump in Net Sales • Strong traction in IB revenues HOUS IN G FIN AN CE • Disbursements grew by 136% YoY to ₹ 6.4 bn in FY22 • CoF reduction by 105 bps YoY in FY22 to 8.2%; incremental COF at 7%

₹ 6.4

Sales • Strong traction in IB revenues HOUS IN G FIN AN CE • Disbursements grew by 136% YoY to ₹ 6.4 bn in FY22 • CoF reduction by 105 bps YoY in FY22 to 8.2%; incremental COF at 7% • Rating upgrad

“F Y 2 2 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 7 Years CAGR 24% (post buyback) Benefits of having near to liquid”

“IBEF IV fund, with a target size of ₹ 45 bn, has achieved its 2nd close at ₹ 40 bn.”

“The full impact on the fee based revenue will be visible in FY23.”

Note

12

Growth

5

CAGR

3

Net Worth

1

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1

Note

* Excluding Other comprehensive income CAPITAL MARKET S AS S ET & WEALT H MAN AGE M EN T 258% 173% 157% (3% of NWE) 92% (6% of NWE) (6% of NWE) (3% of NWE) FY22 FY21 FY22 FY21 HOUS IN G FIN AN CE FUN D BAS ED IN VES T M EN TS 10% 19% 71% Nifty Returns (20% of NWE) 5% (23% of NWE) *Lower market returns led to lower MTM profits on our fund based investments and consequently lower ROE (72% of NWE) 13% 38% (68% of NWE) FY22 FY21 FY22 FY21 KEY HIGHLIGHTS FINANCIALS BUSINESSES ANNEXURES www.motilaloswalgroup.com 04 42 EARNINGS PRESENTATION Q4FY22 Consolidated Financials- Strong Annual Operating Profit Growth @ 69% PARTICULARS (₹ Mn) Q4FY22 Q4FY21 YOY (%) Q3FY22 QOQ (%) FY22 FY21 YOY (%) Capital Markets (Broking, Distribution & IB) Asset Management Private Equity Wealth Management Housing Finance Other Income(1) Total Revenues Total Revenues after Intercompany adjustments Operating Costs Operating Expense(2) Employee Expense Other Expense EBITDA PBT Operating PAT Total Operating PAT incl. PE

Note

1.Other Income comprises of Fund based revenues excluding MTM gains 2.Operating Expense comprises of commission shared with channel partners/distributors 3.Includes ₹ 912 mn of profit on exit of investments in FY22 KEY HIGHLIGHTS FINANCIALS BUSINESSES ANNEXURES www.motilaloswalgroup.com 05 42 EARNINGS PRESENTATION Q4FY22 Consolidated Financials – PAT Mix PAT (₹ Mn) Q4FY22 Q4FY21 YOY (%) Q3FY22 QOQ (%) FY22 FY21 YOY (%) Capital Markets (Broking, Distribution & IB) 1,436 Asset Management(1) Private Equity Wealth Management Asset & Wealth Home Finance Intercompany adj. and others 527 203 100 831 456 -98 802 691 72 115 877 184 2 Operating PAT 2,623 1,865 Total Operating PAT incl. PE profit share 2,623 1,865 79% 1,476 -3% 4,897 2,912 -24% 184% -12% -5% 148% - 41% 41% 528 89 223 840 188 -185 2,319 2,319 - 1,829 1,602 128% -55% 431 594 295 275 68% 14% 46% 116% -1% 2,853 2,172 31% 143% - 13% 13% 929 -537 398 -112 8,140 5,365 9,052 5,365 133% - 52% 69% 06 42

Note

1.AMC Q4FY21 PAT includes ₹ 95 mn of tax refund along with higher profit share on alternates vis-à-vis Q4FY22 PAT. Excluding these, PAT growth would have been 20% YoY in Q4FY22. KEY HIGHLIGHTS FINANCIALS BUSINESSES ANNEXURES www.motilaloswalgroup.com EARNINGS PRESENTATION Q4FY22 Reconciliation of Total PAT and TCI Q4FY22 Q4FY21 YOY (%) Q3FY22 QOQ (%) FY22 FY21 YOY (%) PAT (₹ Mn) Operating PAT MTM PAT(1) PAT(2) Total Operating PAT incl. PE profit share 2,623 1,865 2,623 1,865 41% 41% 2,319 2,319 13% 13% 8,140 5,365 9,052 5,365 52% 69% Other Comprehensive Income (OCI) (3) 471 1,232 -62% -317 - 411 2,919 375 2,730 - 76 - 4,045 7,898 -49% 2,998 4,601 -35% 2,395 25% 13,098 12,604 4% - Total incl. OCI 3,469 5,834 -41% 2,078 67% 13,508 15,523 -13%

Note

1. MTM PAT includes both realized and unrealized profit/(loss) on account of Fund based investments made in Equity & Alternate Funds 2. Q4FY21 and FY21 PAT includes ₹ 6 mn and (-) ₹ 659 mn of exceptional item comprising of provision made by the company on account of negative price settlement of Crude Oil Derivative positions of the customers in Commodity broking. 3. OCI includes MTM profit on equity share investment KEY HIGHLIGHTS FINANCIALS BUSINESSES ANNEXURES www.motilaloswalgroup.com 07 42 EARNINGS PRESENTATION Q4FY22 Consolidated Balance Sheet PARTICULARS (₹ Bn) SOURCES OF FUNDS Net Worth Borrowings(1) Minority Interest Total Liabilities APPLICATION OF FUNDS Fixed assets (net block) Investments Loans and Advances(2) Net current assets Total assets FY22 FY21 56.7 62.3 0.3 44.6 57.6 0.3 119.3 102.6 3.6 46.8 49.0 19.8 3.5 39.2 45.2 14.6 119.3 102.6 Consolidated net debt is ₹ 41.4 Bn Excluding Home Finance, net debt is ₹ 18 Bn Total D/E stood at 1.1x Ex-MOHF D/E stood at 0.6x Net of i

Note

1.Borrowings are inclusive of MOHFL. Ex- MOHFL borrowings are ₹ 35.7 bn in Mar-22. 2.Loan & Advances include loan book of Motilal Oswal Home Finance and Margin Trading Facility book. KEY HIGHLIGHTS FINANCIALS BUSINESSES ANNEXURES www.motilaloswalgroup.com 08 42 EARNINGS PRESENTATION Q4FY22 Making Robust Progress Revenue Trend Profitability Trend 29.0 26.8 23.2 19.3

CAGR

19% 46.2 39.3 Revenue (₹ Bn) 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 43 6.3 25 3.6 20 2.9 18 1.8 86 12.6 89 13.1