Motilal Oswal Financial Services Limited has announced that its material wholly-owned subsidiary, Motilal Oswal Asset Management Company Ltd. (MOAMC), has received a Letter of Appointment dated May 05, 2026 from the Pension Fund Regulatory and Development Authority (PFRDA), appointing MOAMC as Sponsor of Pension Fund for managing pension assets under the National Pension System (NPS). The intimation was made to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This development marks a significant milestone in strengthening the company's presence in India's financial services ecosystem and expanding its participation in the long-term retirement and pension fund management space.

PFRDA Appointment and Mandate

The approval follows MOAMC's application in response to PFRDA's invitation for the selection of pension fund sponsors under its Registration Guidelines. As part of the mandate, MOAMC will set up a separate pension fund entity that will act as an investment manager, overseeing the NPS contributions of subscribers and managing pension assets in accordance with the PFRDA Act, 2013 and applicable regulations. The appointment is subject to the terms and conditions specified in the Letter of Appointment.

Key details of the appointment are outlined below:

Next Steps Toward Full Operations

MOAMC will undertake the necessary formalities to commence operations, which include:

• Obtaining the Certificate of Registration from PFRDA
• Executing the Investment Management Agreement (IMA) with the NPS Trust
• Entering into further arrangements with custodians, intermediaries, and other relevant parties
• Completing all compliances as prescribed under the PFRDA Act, 2013 and related regulations

Upon completion of these formalities, MOAMC will commence full-scale operations as a Sponsor of Pension Fund under the NPS.

Leadership Commentary

Mr. Prateek Agrawal, MD & CEO of Motilal Oswal Asset Management Company Ltd., commented on the development: "As India's financial ecosystem evolves, the need for disciplined, long-term retirement investment and planning is becoming critical for long-term financial security. As Indians shift their financial habits moving from a saver to an investor mindset, NPS inflows have also been growing steadily. Through our entry into India's NPS ecosystem, we aim to bring a research-driven, high-conviction, and long-term investment approach, focused on delivering consistent performance for investors to build sustainable retirement wealth."

About Motilal Oswal Asset Management Company Ltd.

Motilal Oswal Asset Management Company Ltd. (MOAMC) is registered with SEBI as the Investment Manager for Motilal Oswal Mutual Fund. It was incorporated on November 14, 2008, and provides Investment Management and Advisory Services to investors based within and outside India. The company operates across Mutual Funds, AIFs, and Portfolio Management Services businesses. The Motilal Oswal Group possesses a legacy in equities spanning over 3 decades.

The SEBI registration details for entities within the group are as follows:

Motilal Oswal Financial Services has announced its audited financial results for the quarter and year ended March 31, 2026, following a Board meeting held on April 29, 2026. The company reported its highest-ever quarterly operating Profit After Tax (PAT) of ₹661 Cr in Q4FY26, a growth of 25% on a year-on-year basis. For the full year FY26, the operating PAT stood at ₹2,360 Cr, growing by 16% YoY. The performance was driven by strong growth in the Asset & Private Wealth Management business.

Financial Performance

The company's total net revenue for FY26 reached ₹5,908 Cr, compared to ₹5,178 Cr in the previous year. The Asset & Private Wealth Management segment reported a net revenue of ₹677 Cr in Q4FY26 and ₹2,560 Cr for the full year. The Treasury book grew by 12% YoY to ₹9,403 Cr. The Board also approved the audited financial results for both consolidated and standalone formats.

Board Meeting Outcomes

The Board meeting, conducted from 02:30 p.m. to 05:20 p.m., addressed multiple significant agenda items. The company approved its audited financial results for the quarter and year ended March 31, 2026. Additionally, the Board approved the appointment of two new Independent Directors, subject to shareholder approval and necessary regulatory clearances.

Promoter Group Reclassification

The Board approved requests for reclassification from 11 members of the Promoter Group seeking to move from the 'Promoter Group' category to the 'Public' category. The aggregate shareholding of these members represents 0.42% of the total shareholding, amounting to 24,45,412 shares. The continuing promoters hold 67.12% of the total shareholding. The reclassification is subject to stock exchange and shareholder approval.

Corporate Governance Updates

The Board approved amendments to the 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' pursuant to Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The company also confirmed compliance with all regulatory requirements, including maintaining adequate security cover for Non-Convertible Debentures.

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