Motilal Oswal Financial Services Limited announced the voting results for its Twenty-First Annual General Meeting (AGM) held on Tuesday, July 14, 2026, via video conferencing. Shareholders approved all nine resolutions, including the adoption of financial statements for the year ended March 31, 2026, the confirmation of a ₹6 per share dividend, and the reclassification of certain promoter group members to the public category. The Scrutinizer's Report, issued by Mr. Umashankar K. Hegde, Practicing Company Secretary, confirmed the outcomes based on remote e-voting and e-voting conducted during the meeting.

The reclassification of 11 promoter group members to the public category was approved with 99.9988% of votes polled in favour. This resolution impacted an aggregate shareholding of 24,45,412 equity shares, representing 0.42% of the total share capital. The members reclassified include relatives of Mr. Raamdeo Agarawal and Mr. Motilal Oswal, Directors of the company. The Board noted that these individuals have been financially, managerially, and operationally independent for several years, with no common business interests or shared control with the continuing promoters.

Voting Results Summary

The resolutions were passed with the requisite majority. Key outcomes included the re-appointment of Mr. Raamdeo Agarawal and Mr. Navin Agarwal as Directors, and the appointment of Mr. Sunil Goyal and Mrs. Smita Bhagat as Independent Directors. The resolution to enhance the borrowing limit under Section 180(1)(c) of the Companies Act, 2013, was also approved.

Reclassified Members

The members reclassified from the Promoter Group to the Public category are listed below:

The remote e-voting facility commenced on July 10, 2026, and concluded on July 13, 2026. A total of 2,27,942 shareholders were on record as of the cut-off date, July 7, 2026. The company confirmed that the voting results have been submitted to the stock exchanges and are available on its website.

Motilal Oswal Financial Services Limited has filed a disclosure with BSE Limited and the National Stock Exchange of India Limited on June 29, 2026, informing the exchanges of a rectification of an inadvertent typographical error in the Notice of its Twenty-First Annual General Meeting (AGM). The error was identified in the Explanatory Statement to the Notice, specifically in the Annexure to Item Nos. 4, 5, 7 and 8, which relates to the 'shareholding of the Directors in the Company' as mentioned on Page 18 of the Notice. The Company has uploaded the revised Notice, forming part of the Annual Report for FY 2025-26, on its website at www.motilaloswal.com . The rectification was signed by Kailash Purohit, Company Secretary & Compliance Officer, on June 29, 2026.

AGM and E-Voting Schedule

The Annual Report and Notice of the AGM were originally sent to shareholders on June 22, 2026. The key dates for the 21st AGM remain unchanged as follows:

FY26 Financial Performance

Motilal Oswal Financial Services delivered a strong performance in FY 2025-26. The consolidated revenue increased 12% year-on-year to ₹9,41,642 lakhs. The following table summarises the key consolidated and standalone financials:

The company's long-term credit rating was upgraded by ICRA from '[ICRA]AA (Positive)' to '[ICRA]AA+ (Stable)' during the year. An interim dividend of ₹6 per equity share was declared and paid on February 06, 2026. The company's standalone financial ratios showed a Debt Equity Ratio of 1.73 (vs. 1.22 in the prior year), Operating Margin of 23.86% (vs. 32.24%), and ROE of 14.90% (vs. 19.47%), with the moderation primarily attributable to adverse MTM movements.

Business Segment Highlights

The company's diversified financial services platform delivered broad-based growth across all key segments in FY 2025-26:

The Asset Management business saw net revenue increase 47% YoY to ₹1,479 crore, with PAT rising 55% YoY to ₹798 crore. Private Wealth Management net revenue grew 17% YoY to ₹1,080 crore. The Capital Market business completed 52 deals with a total issue size of ₹83,600+ crore, ranking #1 in QIPs and #2 in left-lead IPO filings for FY26. The Housing Finance business secured USD 100 million in NCD funding from the Asian Development Bank (ADB) to support affordable housing for women borrowers and green-certified residential units, and maintained a capital adequacy ratio of 37.50%.

Governance and Board Changes

The Board comprised 14 Directors as on March 31, 2026, including 7 Independent Directors. During the year, Mr. Pratik Oswal, Mr. Vaibhav Agrawal, Mr. Conrad D'Souza, and Mr. Ashok Kothari were appointed as Directors with effect from November 01, 2025. Mr. Motilal Oswal was re-appointed as Managing Director & CEO with effect from January 18, 2026, and Mr. Rajat Rajgarhia was re-appointed as Whole-time Director with effect from July 31, 2025. Subsequent to the financial year, Mr. Sunil Goyal and Mrs. Smita Bhagat were appointed as Independent Directors with effect from July 01, 2026, in view of the upcoming completion of the tenures of Mr. C.N. Murthy and Mr. Chandrashekhar Karnik.

The AGM agenda includes re-appointment of Mr. Raamdeo Agarawal and Mr. Navin Agarwal (Retiring by Rotation), new appointments of Mr. Sunil Goyal and Mrs. Smita Bhagat (w.e.f. July 01, 2026), and reclassification of 11 Promoter Group members to the 'Public' category (aggregate 0.42% shareholding). The borrowing limit is proposed to be enhanced from ₹15,000 crore to ₹22,500 crore under Section 180(1)(c) to support the company's growing Margin Trading Facility book, which increased from ₹3,501 crore as on March 31, 2024 to ₹5,767 crore as on March 31, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE338I01027/825294c585cb40b6.pdf