Jio Financial Services Ltd
JFSL was originally incorporated as Reliance Strategic Investments Private Limited in July, 1999 under the Companies Act 1956. Jio Financial Services Limited was incorporated in July, 23. JFSL is a NBFC-ND-SI registered with RBI. The company is a holding company and will operate its financial services business through its consumer-facing subsidiaries namely Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), and Jio Payment Solutions Limited (JPSL) and joint venture namely Jio Payments Bank Limited (JPBL).[1]
- Market Cap ₹ 1,62,721 Cr.
- Current Price ₹ 246
- High / Low ₹ 339 / 223
- Stock P/E 239
- Book Value ₹ 46.1
- Dividend Yield 0.20 %
- ROCE 2.85 %
- ROE 2.51 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 40.8% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 38.0%
- Promoter holding has increased by 2.01% over last quarter.
Cons
- Stock is trading at 5.34 times its book value
- Tax rate seems low
- Company has a low return on equity of 2.12% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Financial Services Financial Services Finance Investment Company
Part of Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 3 | -105 | 349 | 303 | 149 | 45 | 638 | 806 | 949 | |
| 0 | 16 | 28 | 82 | 7 | -4 | 94 | 174 | 181 | |
| Operating Profit | 3 | -121 | 322 | 221 | 141 | 49 | 544 | 632 | 768 |
| OPM % | 94% | 92% | 73% | 95% | 110% | 85% | 78% | 81% | |
| 0 | 0 | 0 | 8 | 35 | 0 | 0 | 33 | 20 | |
| Interest | 1 | 248 | 128 | 111 | 0 | 0 | 10 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 12 | 13 |
| Profit before tax | 2 | -369 | 194 | 118 | 177 | 49 | 521 | 653 | 774 |
| Tax % | -15% | 9% | -19% | -4% | 5% | 37% | 27% | 16% | 12% |
| 2 | -402 | 230 | 123 | 168 | 31 | 382 | 549 | 681 | |
| EPS in Rs | 0.60 | 0.86 | 1.07 | ||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 58% | 56% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 177% |
| TTM: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 179% |
| TTM: | 24% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 2% |
| Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.02 | 2 | 2 | 2 | 2 | 2 | 6,353 | 6,353 | 6,353 |
| Reserves | 21 | 1,705 | 1,935 | 2,058 | 2,226 | 24,052 | 18,084 | 18,632 | 22,952 |
| 17 | 2,322 | 2,420 | 0 | 0 | 743 | 0 | 0 | 0 | |
| 0 | 72 | 426 | 0 | 0 | 6 | 37 | 110 | 131 | |
| Total Liabilities | 39 | 4,100 | 4,783 | 2,060 | 2,228 | 24,803 | 24,474 | 25,096 | 29,436 |
| 0 | 0 | 0 | 0 | 0 | 49 | 37 | 28 | 16 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 37 | 3,144 | 206 | 57 | 181 | 19,401 | 19,720 | 22,706 | 28,094 |
| 2 | 956 | 4,577 | 2,003 | 2,047 | 5,354 | 4,717 | 2,361 | 1,326 | |
| Total Assets | 39 | 4,100 | 4,783 | 2,060 | 2,228 | 24,803 | 24,474 | 25,096 | 29,436 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 2 | -1 | -3,687 | 2,434 | 123 | 2,053 | -283 | -1,772 | 1,360 | |
| -0 | -2 | 3,649 | 163 | -123 | -1,164 | 1,041 | 1,776 | -4,999 | |
| -2 | 3 | 37 | -2,597 | 0 | -889 | -753 | 0 | 3,639 | |
| Net Cash Flow | -0 | 0 | -1 | -0 | 0 | -0 | 5 | 4 | -0 |
| Free Cash Flow | 2 | -1 | -3,687 | 2,434 | 123 | 2,053 | -283 | -1,776 | 1,359 |
| CFO/OP | 121% | 1% | -1,132% | 1,102% | 98% | 4,160% | -29% | -273% | 188% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 49 | -108 | 8 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 0 | ||||||||
| Days Payable | |||||||||
| Cash Conversion Cycle | 49 | -108 | 8 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 189 | 3,231 | -256 | 57 | 99 | 829 | 9 | 10 | 13 |
| ROCE % | -6% | 8% | 7% | 8% | 0% | 2% | 3% | 3% |
Insights
In beta| Mar 2024 | Sep 2025 | |
|---|---|---|
| Assets Under Management (AUM) - Jio Credit Rs. Crore |
|
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| Business Correspondent (BC) Network Touchpoints Number |
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| CASA Customers - Jio Payments Bank Million |
||
| Employee Strength Number |
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| Total Deposits - Jio Payments Bank Rs. Crore |
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| Mutual Fund AUM - JioBlackRock Rs. Crore |
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| Premium Facilitated - Insurance Broking Rs. Crore |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
23 Apr - Transcript of Presentation on the Audited Financial Results (Consolidated and Standalone) for the quarter and year ended March 31, 2026
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Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
23 Apr - 25 crore shares allotted on warrant conversion to SPTL and JUPL; promoter holding rose to 49.13%.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
22 Apr - Jio Financial and Allianz signed 50:50 general insurance JV; launch awaits statutory and regulatory approvals.
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Joint Venture With Allianz Europe B.V. For General Insurance Business In India
22 Apr - JFSL approved binding 50:50 general insurance JV with Allianz; launch awaits regulatory approvals.
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Announcement under Regulation 30 (LODR)-Allotment
21 Apr - On April 21, 2026, Jio Financial allotted 25 crore shares on warrant conversion, raising promoter holding to 49.13%.
Annual reports
Concalls
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Apr 2026Transcript PPT REC
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Jan 2026Transcript PPT REC
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Nov 2025TranscriptPPTREC
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Oct 2025TranscriptAI SummaryPPT
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Jul 2025Transcript PPT REC
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Apr 2025Transcript PPT REC
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Jan 2025Transcript PPT
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Oct 2024Transcript PPT
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Jul 2024Transcript PPT
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Apr 2024TranscriptPPT
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Apr 2024Transcript PPT
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Jan 2024Transcript PPT
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Oct 2023Transcript PPT
Overview
The financial services business Reliance Industries Ltd got demerged into Jio Financial Services. [1] [2]
In July,24, the company received the final approval from the RBI to become a Core Investment Company - Non-Deposit taking - Systemically important Company from an NBFC. [3]