MOTILAL OFS Q4 FY23 Result Update:
- The company’s ROE for FY23 was 18%, compared to 30% in FY22.
- Increase in Wealth Revenue QoQ was mainly due to new AIF tie ups and Insurance Referral.
- Added gross 63 Wealth RMs in FY23. We will continue to invest in this business by further RM additions.
- Active clients stood at 0.8 mn as of March 2023. MOFSL’s rank, in terms of active clients improved to 8th position.
- Insurance premium increased by 120% YoY to ₹ 1.2 bn in FY23.
- Currency market share improved by 360 bps QoQ to 18.5%.
- F&O market share has also increased from 2.7% to 3.9%.
HDFC Securities suggests a TP of Rs. 845
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