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]Jio Financial Serv
- Market Cap ₹ 1,85,611 Cr.
- Current Price ₹ 292
- High / Low ₹ 368 / 199
- Stock P/E 338
- Book Value ₹ 39.3
- Dividend Yield 0.00 %
- ROCE 2.64 %
- ROE 2.22 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 19.0% CAGR over last 5 years
Cons
- Stock is trading at 7.44 times its book value
- Company has a low return on equity of 1.55% 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
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 | |
|---|---|---|---|---|---|---|---|---|
| 3 | -105 | 349 | 303 | 149 | 45 | 638 | 806 | |
| 0 | 16 | 28 | 82 | 7 | -4 | 94 | 174 | |
| Operating Profit | 3 | -121 | 322 | 221 | 141 | 49 | 544 | 632 |
| OPM % | 94% | 92% | 73% | 95% | 110% | 85% | 78% | |
| 0 | 0 | 0 | 8 | 35 | 0 | 0 | 34 | |
| Interest | 1 | 248 | 128 | 111 | 0 | 0 | 10 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 12 |
| Profit before tax | 2 | -369 | 194 | 118 | 177 | 49 | 521 | 653 |
| Tax % | -15% | 9% | -19% | -4% | 5% | 37% | 27% | 16% |
| 2 | -402 | 230 | 123 | 168 | 31 | 382 | 549 | |
| EPS in Rs | 0.60 | 0.86 | ||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 58% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 76% |
| TTM: | 26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 48% |
| TTM: | 44% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -18% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 2% |
| Last Year: | 2% |
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 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.02 | 2 | 2 | 2 | 2 | 2 | 6,353 | 6,353 |
| Reserves | 21 | 1,705 | 1,935 | 2,058 | 2,226 | 24,052 | 18,084 | 18,632 |
| 17 | 2,322 | 2,420 | 0 | 0 | 743 | 0 | 0 | |
| 0 | 72 | 426 | 0 | 0 | 6 | 37 | 110 | |
| Total Liabilities | 39 | 4,100 | 4,783 | 2,060 | 2,228 | 24,803 | 24,474 | 25,096 |
| 0 | 0 | 0 | 0 | 0 | 49 | 37 | 28 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 37 | 3,144 | 206 | 57 | 181 | 19,401 | 19,720 | 22,706 |
| 2 | 956 | 4,577 | 2,003 | 2,047 | 5,354 | 4,718 | 2,361 | |
| Total Assets | 39 | 4,100 | 4,783 | 2,060 | 2,228 | 24,803 | 24,474 | 25,096 |
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 | |
|---|---|---|---|---|---|---|---|---|
| 2 | -1 | -3,687 | 2,434 | 123 | 2,053 | -283 | -1,772 | |
| -0 | -2 | 3,649 | 163 | -123 | -1,164 | 1,041 | 1,776 | |
| -2 | 3 | 37 | -2,597 | 0 | -889 | -753 | 0 | |
| Net Cash Flow | -0 | 0 | -1 | -0 | 0 | -0 | 5 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 49 | -108 | 8 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 0 | |||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 49 | -108 | 8 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 189 | 3,231 | -256 | 57 | 99 | 829 | 9 | 10 |
| ROCE % | -6% | 8% | 7% | 8% | 0% | 2% | 3% |
Documents
Announcements
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Update On Institutional Investors'' Meeting
1d - Disclosure of non-deal roadshow with Citi, no unpublished info shared, June 15, 2025.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
11 Jun - The Company executives will be participating in the Institutional Investors Meeting organised by third party - Non-Deal Roadshow with Citi on June 15, 2025
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Grant Of Certificate Of Registration By SEBI To Jio Blackrock Investment Advisers Private Limited To Act As An Investment Adviser
11 Jun - SEBI grants registration certificate to Jio BlackRock Investment Advisers Pvt Ltd as Investment Adviser.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10 Jun - Jio Financial to hold non-deal roadshow with Citi in Dubai on June 16-17, 2025.
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Update On Institutional Investors'' Meeting
2 Jun - Jio Financial updated on June 2 Bank of America investor meeting, no sensitive info shared.
Annual reports
Concalls
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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 2024Transcript PPT
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Apr 2024TranscriptPPT
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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]