Motilal Oswal Financial Services Limited

rs,

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

₹ 2.9

Key Highlights for Q1FY23 Assets under advice Revenue Operating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth

15%

lights for Q1FY23 Assets under advice Revenue Operating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM

₹ 9.6

r Q1FY23 Assets under advice Revenue Operating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5

13%

Assets under advice Revenue Operating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35

₹ 1.8

der advice Revenue Operating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35% YoY ₹ 1.5

40%

Revenue Operating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35% YoY ₹ 1.5 tn 16

20%

e Operating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35% YoY ₹ 1.5 tn 163% YoY ₹

344 bps

erating profit Operating PAT margin ₹ 2.9 tn 15% YoY ₹ 9.6 bn 13% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35% YoY ₹ 1.5 tn 163% YoY ₹ 344 bn

35%

3% YoY ₹ 1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35% YoY ₹ 1.5 tn 163% YoY ₹ 344 bn 20% YoY 7.7% 120 bps YoY 3 Company has successfully complete

₹ 1.5

1.8 bn 40% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35% YoY ₹ 1.5 tn 163% YoY ₹ 344 bn 20% YoY 7.7% 120 bps YoY 3 Company has successfully completed buyback of

163%

0% YoY 20% 344 bps YoY Customers Broking ADTO Wealth- AUM MOHF- NIM 5 mn 35% YoY ₹ 1.5 tn 163% YoY ₹ 344 bn 20% YoY 7.7% 120 bps YoY 3 Company has successfully completed buyback of 14.5 la

“• We have a strong pipeline of domestic passive funds and AIF 2,594 1,648 469 477 -16% -15% -32% -1% 1,588 -12% which will be launched in coming quarters.”

“637 674 277 1,006 802 -10% -13% -13% -22% -28% • IBEF IV fund, with a target size of ₹ 45 bn, has already raised ₹ 40 bn and expects to commit ~40% over next 2 quarters.”

Note

4

Note

1. 2. Other Expense was up 23% QoQ due to higher provisioning Employee Expense was up 26% YoY due to annual salary increment and addition of ~1800 employees 4 KEY HIGHLIGHTS FINANCIALS BUSINESSES www.motilaloswalgroup.com EARNINGS PRESENTATION Q1FY23 Consolidated Financials – PAT Mix PAT (₹ Mn) Q1FY23 Q1FY22 YOY (%) Q4FY22 QOQ (%) Capital Markets (Broking, Distribution & IB) Asset & Wealth Home Finance Intercompany adj. and others Operating PAT 909 580 321 1 1,817 785 549 85 -122 1,295 16% 6% 279% - 40% 1,404 802 456 -41 2,619 -35% -28% -30% - -31% Reconciliation of Total PAT and TCI PAT (₹ Mn) Operating PAT MTM PAT(1) PAT Other Comprehensive Income (OCI) (2) Total incl. OCI Q1FY23 Q1FY22 YOY (%) Q4FY22 QOQ (%) 1,817 -1,504 313 -495 -182 1,295 915 2,211 -391 1,820 40% - -86% - - 2,619 378 2,998 471 3,469 -31% - -90% - -

Note

1. MTM PAT includes both realized and unrealized profit/(loss) on account of Fund based investments made in Equity & Alternate Funds 2. OCI includes MTM profit on equity share investments 5 KEY HIGHLIGHTS FINANCIALS BUSINESSES www.motilaloswalgroup.com EARNINGS PRESENTATION Q1FY23 Consolidated Balance Sheet PARTICULARS (₹ Bn) June 30, 2022 Mar 31, 2022 ROE 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 56.5 63.6 0.3 56.7 62.3 0.3 120.3 119.3 3.6 44.4 49.9 22.4 3.6 46.8 49.0 19.8 120.3 119.3

Note

1.Borrowings are inclusive of MOHFL.. Ex- MOHFL borrowings are ₹ 37.4 bn in Jun-22. 2.Loan & Advances include loan book of Motilal Oswal Home Finance and Margin Trading Facility book. 6 Capital Markets Asset & Wealth Mgt. Housing Finance Fund Based Investments2 Overall Q1FY231 148% 76% 13% -18% 2% FY22 258% 173% 10% 13% 30% FY21 92% 157% 5% 38% 38% ROE for Q1FY23 subdued due to MTM impact on our fund based investments 1. Annualized for Q1FY23 2. Net Worth Deployment 6% 6% 20% 67% Fund Based Investments MOHF Corporate Office Working Capital & Others KEY HIGHLIGHTS FINANCIALS BUSINESSES www.motilaloswalgroup.com EARNINGS PRESENTATION Q1FY23 Capital Markets 3.2% 2.1 Lakh ₹ 24,000+ ₹ 172 Bn Retail F&O market share; up 34 bps QoQ New clients acquired in Q1FY23 One of the highest ARPUs in the industry Distribution AUM; +23% YoY ₹ 3.8 Bn Distribution Net Sales in Q1FY23, registering a 7x YoY growth PARTICULARS (₹ Mn) Q1FY23 Q1FY22 YoY (%) Q4FY22 QoQ (%) Revenues • Brokerage • Distribution • I

Note

*Motilal Oswal Real Estate (MORE); lending to CAT A builders www.motilaloswalgroup.com EARNINGS PRESENTATION Q1FY23 Home Finance ECL Provisioning Details PARTICULARS (₹ Mn) Stage 1 & 2 % portfolio in stage 1 & 2 Stage 3 % portfolio in Stage 3 ECL Provision % Stage 1 & 2 Total Assets ECL Provision ECL Provision % Stage 3 Coverage Ratio Q1FY23 34,444 97.84% 759 2.16% 1.64% 35,203 879 2.50% 41% STATE MH GJ TN RJ KA MP AP HR CG TS DL UP Maharashtra Gujarat Tamil Nadu Rajasthan Karnataka Madhya Pradesh Andhra Pradesh Haryana Chhattisgarh Telangana Delhi Uttar Pradesh NOS. OF BRANCHES 32 15 14 11 09 09 05 04 02 02 02 01 MOHFL’s GNPA and NNPA Trend Collection Efficiency Trend 4.7% 3.3% 2.2% GNPA NNPA 1.4% 1.3% 1.6% 0.7% 0.9% 2.2% 1.3% 92% 98% 99% 102% 99% 100% CE incl. prepayments was 124% in Jun-22 HR DL RJ UP GJ MP CG MH TS KA AP TN MOHFL’s Geographic Reach PRESENCE ACROSS 106 LOCATIONS IN 12 STATES/UTS Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 23 As per new RBI norm, GNPA and NNPA stood at 2.8% a