Raamdeo Agrawal's Investment Philosophy and Latest Portfolio 2026

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Last Updated: 3rd February 2026 - 04:35 pm

Raamdeo Agrawal- an avid follower of Warren Buffett's investing principle-‘Buy Right & Sit Tight’. Now, Agarwal has a simple yet effective investing formula for India, called QGLP- Quality, Growth, Longevity, and Price. This framework basically blends fundamental research (where to enter) with technical/derivative insights (when to enter). Agarwal institutionalised (formalised) India’s stock market & wealth creation studies.

Agrawal, often hailed as one of India's most insightful value investors, is the co-founder and chairman of Motilal Oswal Financial Services Ltd (MOFSL). With over three decades of experience in the Indian capital markets, he has shaped investment thinking through his proprietary QGLP framework:

  • Quality of business and management
  • Growth in earnings (sustainable)
  • Longevity-sustainability of moats and growth
  • Price (fair value)- Reasonable

Agarwal’s approach emphasises long-term compounding in high-conviction ideas rather than short-term trading. Agrawal's personal portfolio exemplifies this philosophy: highly concentrated and anchored in his own business, reflecting deep belief in India's structural growth story. 

As of the latest promoter disclosures for Q4 2025 (December 2025), his publicly reported holdings remain limited to two stocks, with the overwhelming majority tied to MOFSL. His net worth from these holdings fluctuates with market prices but has been estimated in the range of ₹9,000–14,000 crore, predominantly from his promoter stake in MOFSL (21.14%).

Stock Name Holder Name Quantity Held Holding Percent Change from Previous Qtr Holding Value (₹)
Maharashtra Scooters Ltd. Raamdeo Ramgopal Agrawal 1,82,909 1.60% 0 245.0 Cr
Motilal Oswal Financial Services Ltd. Raamdeo Ramgopal Agrawal 12,71,07,260 21.14% -0.03 10,054.8 Cr

Agarwal’s main holding, MOFSL, saw a minor reduction in Q4CY25 at around -0.03%. Agarwal is generally optimistic and realistic in his market assessment and continues to believe in a moderate double-digit 20% CAGR for large-cap stocks, falling under his QGLP scanner, driven by India’s structural and sector-specific tailwinds. He also believes in bargain hunting due to any cyclical headwinds and treats volatility as an investment opportunity in a good business model under temporary disruption. 

Overview of Selected Stocks in Raamdeo Agrawal's Portfolio

1) Motilal Oswal Financial Services Ltd (MOFSL):

Dominant holding ~21.14% personal stake; ~30.52% collective family Incorporated in 1987 by Raamdeo Agrawal and Motilal Oswal, MOFSL has grown into one of India's leading integrated financial services firms. Listed since 2007, it operates across retail broking, institutional equities, and asset management (AMC), private wealth, investment banking, and principal strategies. With a leading brand in research-driven investing, the firm has consistently ranked among the top Indian influential brokerages with a thrust on ‘Research, Research and Research’ (3Rs).

MOFSL generates revenue through a diversified mix:  

  • Broking and distribution (retail and institutional)  
  • Asset and wealth management (via mutual funds, PMS, AIFs
  • Investment banking and principal investments
  • The model leverages India's rising financialisation, SIP inflows, and equity culture 
  • Digital platforms and advisory services drive client acquisition, while research (including Wealth Creation Studies) differentiates it
  • Fee-based income (wealth, asset management) provides stability versus transaction-based broking

Competitive Moats (advantages): Combing low cost discounting brokerage model with premium research

  • Strong Brand and Research Edge: Decades of high-quality research, led by a professional team led by Agrawal's insights, build trust and client trust.
  • Diversified Revenue Streams: Reduces cyclicality; asset management AUM growth compounds steadily.  
  • Scale and Network Effects: Large client base (~ millions) and distribution network create barriers (competition). 
  • Management Quality: Promoter-driven with skin in the game (Agrawal's significant stake aligns interests).  
  • Regulatory Compliance and Innovation: Early adopters of digital tools positions itself well in evolving markets.

MOFSL exemplifies Agrawal's QGLP: a high-quality financial compounder with longevity in India's growth trajectory.

2) Maharashtra Scooters Ltd (MSL):

Smaller position/stake (~1.60%) Established in 1973, MSL was originally a joint venture (JV) between Bajaj Auto and Western Maharashtra Development Corporation for scooter manufacturing. Post the scooter era's decline, it transformed into a core investment company. Bajaj Holdings holds majority control (~51%), with MSL functioning as a non-banking financial company (NBFC) focused on investments. Now MSL operates as a passive investment vehicle (holding company) - holding a diversified portfolio of equities (primarily Bajaj group companies and others) and earning dividend/interest income. It has minimal operations beyond treasury management and strategic investments. The model relies on compounding returns from underlying holdings rather than active trading. While a minor holding for Agrawal, it aligns with his preference for stable, low-risk compounding vehicles.

Conclusion

Raamdeo Agrawal's portfolio and outlook underscore a disciplined, QGLP-conviction-driven approach amid India's multi-trillion-dollar journey. His concentrated bets on MOFSL highlight faith in financial services' secular growth, while views on automobiles, AI data centres, and large-caps signal pragmatic optimism for 2026. Investors can draw lessons from his QGLP narrative: prioritise quality businesses with sustainable growth at reasonable valuations for long-term wealth creation. In a year of potential earnings-led recovery, Agrawal's insights remind us of his famous investing mantra: ‘Buy Right & Sit Tight’-the Indian version of ‘Warren Buffett school of thought’.

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