Mumbai : Motilal Oswal Financial Services Limited (MOFSL) announced that Crisil Ratings has upgraded its long-term rating to ‘Crisil AA+/Stable’ from ‘Crisil AA/Positive’ and reaffirmed the short-term rating at ‘Crisil A1+’. With this, MOFSL holds a AA+ long-term rating from both Crisil and ICRA.
The upgrade reflects MOFSL’s strong market position across capital market businesses, healthy earnings profile with a track record of performance through cycles, and comfortable capitalisation supported by a large net worth and low leverage.
Crisil cited the continued growth in the groups’ all business verticals; the sustained improvement in the group’s business risk profile, growth and diversity across business segments, and the strengthening of the franchise while upholding financial discipline through market cycles and adapting to changing regulations environment. The rating agency has taken a consolidated view of the Motilal Oswal Group and its subsidiaries, the operational synergies and shared management framework.
In FY2026, Motilal Oswal Financial Services Ltd. (MOFSL) reported annual operating PAT of ₹2,360 Cr (grew 16% on YoY basis). Networth as on March’26 stands at ₹12,888 crore, with a low gearing of 1.5 times.
Mr. Motilal Oswal, Group CEO & co-founder, Motilal Oswal Financial Services Limited, said, “It is such a pleasure to receive this upgrade on the 39th anniversary of our group’s foundation and reflects strength in our competency as an integrated capital markets company. Crisil ratings upgrade showcases the resilience of our business model, which is modelled on the Berkshire Hathaway philosophy of combining entrepreneurship with disciplined investing. Over the years, we have built a twin-engine structure of operating and investment businesses, with nearly 80% of our cash flows reinvested in our own financial products to drive long-term compounding and proving ‘Skin in the Game’.”
Mr. Shalibhadra Shah, Chief Financial Officer, Motilal Oswal Financial Services Limited, said, “The upgrade to Crisil AA+ recognises the quality of our balance sheet, the diversity of our earnings, and the consistency of our financial discipline. It strengthens our borrowing capacity, supports a lower cost of funds, and improves access to institutional capital as we fund growth across verticals.”
Mr Shah said, “Rating of AA+ clearly highlights our strong credit profile to lenders and investors. It establishes us as a well-diversified capital market leader with a notably low risk profile, opening up new opportunities across our businesses.”