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Why is Motilal Oswal’s Raamdeo Agrawal surprised
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
In an interaction with CNBC-TV18 today, Agrawal said that there’s no seasonality, and that every quarter is seeing a quarter-on-quarter growth for the last few quarters.
Raamdeo Agrawal, the Chairman and Co-Founder of Motilal Oswal Financial Services, is surprised to see the kind of buildup that is happening quarter-on-quarter in the last few quarters.
In an interaction with CNBC-TV18 on Friday, Agrawal said that there’s no seasonality and that every quarter is seeing a quarter-on-quarter growth for the last few quarters.
“I mean, every single business is becoming bigger by the quarter.”
The Motilal Oswal Chairman said that even the current quarter is shaping up well. “Right now, we have uncertainty about elections and global geopolitics. So, my sense is that because the market is expanding, we have already talked about so many times about the retail equity revolution in India, and we are leading right from the front because we cater to almost 98% of the pin codes and things like that.”
Agrawal thinks that the pressure is not only building in retail broking and asset management, but also having a much wider second-order effect in wealth creation in terms of private equity, i-Banking, IPOs, foreign offering, block deals, and everything to do with the capital markets.
He said that the first quarter or the next four quarters should be tracking what has happened in the last four quarters.
Motilal Oswal reported a whopping 334% year-on-year (YoY) jump in its March quarter consolidated net profit at ₹724.6 crore. The same was ₹167 crore in the year-ago period.
Motilal’s revenue from operations rose 108% YoY to ₹2,141.3 crore, compared to ₹1,027.4 crore.
EBITDA or Earnings Before Interest, Tax, Depreciation and Amortisation stood at ₹1,231.5 crore for the quarter from ₹443.7 crore recorded in the corresponding quarter of last year.
The company’s EBITDA margin stood at 57.5%, compared to 43.2% a year ago.
The board of Motilal Oswal also approved bonus shares in a ratio of 3:1.
The record date for the bonus issue of shares is yet to be determined. This is the first-ever issue of bonus shares that the company has considered.
In February 2024, Motilal declared a dividend of ₹14 per share. Over the last five years, the company has paid dividends worth ₹56 per share to its shareholders.
The stock settled 3.78% higher at ₹2,557 apiece on the NSE. Motilal shares have rallied 300% in the last one year.
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