JM Financial Ltd
₹ 122
0.67%
31 Jul
- close price
About
JM Financial Ltd is an integrated and diversified financial services group. Its primary businesses include mortgage lending, distressed credit, asset management. It is also engaged in investment banking and the management of private equity funds. [1]
Key Points
- Market Cap ₹ 11,690 Cr.
- Current Price ₹ 122
- High / Low ₹ 200 / 112
- Stock P/E 16.8
- Book Value ₹ 49.8
- Dividend Yield 2.66 %
- ROCE 17.6 %
- ROE 15.1 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 31.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 51.5%
- Debtor days have improved from 32.6 to 21.7 days.
- Company's median sales growth is 20.7% of last 10 years
Cons
- Tax rate seems low
- Company has a low return on equity of 12.1% 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.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Upcoming result date: 3 August 2026
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 104 | 157 | 162 | 425 | 270 | 300 | 373 | 613 | 552 | 820 | 962 | 1,200 | |
| 16 | 18 | 16 | 157 | 133 | 127 | 138 | 186 | 242 | 394 | 380 | 371 | |
| Operating Profit | 88 | 139 | 146 | 268 | 136 | 174 | 234 | 427 | 310 | 426 | 582 | 829 |
| OPM % | 85% | 88% | 90% | 63% | 51% | 58% | 63% | 70% | 56% | 52% | 61% | 69% |
| 1 | 0 | 1 | 1 | 1 | 3 | 2 | 6 | 3 | 1 | -14 | -1 | |
| Interest | 8 | 27 | 40 | 35 | 20 | 8 | 7 | 7 | 6 | 6 | 6 | 5 |
| Depreciation | 0 | 0 | 1 | 2 | 2 | 12 | 12 | 11 | 10 | 11 | 12 | 12 |
| Profit before tax | 80 | 112 | 107 | 233 | 116 | 156 | 217 | 416 | 297 | 410 | 550 | 811 |
| Tax % | 3% | -0% | 0% | 18% | 4% | 19% | 19% | 21% | 14% | 25% | 2% | 15% |
| 78 | 112 | 107 | 192 | 111 | 127 | 175 | 328 | 256 | 310 | 539 | 693 | |
| EPS in Rs | 1.00 | 1.42 | 1.34 | 2.29 | 1.33 | 1.51 | 1.84 | 3.44 | 2.69 | 3.24 | 5.64 | 7.25 |
| Dividend Payout % | 135% | 102% | 112% | 79% | 75% | 13% | 27% | 48% | 67% | 62% | 48% | 45% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 26% |
| 3 Years: | 30% |
| TTM: | 25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 32% |
| 3 Years: | 39% |
| TTM: | 26% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 3% |
| 3 Years: | 16% |
| 1 Year: | -23% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 11% |
| 3 Years: | 12% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 78 | 79 | 79 | 84 | 84 | 84 | 95 | 95 | 95 | 96 | 96 | 96 |
| Reserves | 1,565 | 1,576 | 1,646 | 2,407 | 2,398 | 2,489 | 3,408 | 3,641 | 3,792 | 4,014 | 4,366 | 4,663 |
| 122 | 426 | 207 | 1 | 1 | 1 | 72 | 66 | 61 | 54 | 53 | 41 | |
| 183 | 191 | 121 | 187 | 174 | 269 | 216 | 234 | 216 | 289 | 363 | 291 | |
| Total Liabilities | 1,949 | 2,272 | 2,053 | 2,679 | 2,657 | 2,843 | 3,790 | 4,037 | 4,164 | 4,452 | 4,878 | 5,091 |
| 2 | 3 | 2 | 6 | 5 | 77 | 69 | 61 | 56 | 48 | 47 | 35 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1,662 | 1,757 | 1,769 | 2,424 | 2,389 | 2,528 | 3,021 | 3,251 | 3,098 | 3,657 | 3,962 | 4,266 |
| 285 | 512 | 282 | 249 | 263 | 238 | 700 | 725 | 1,009 | 747 | 869 | 790 | |
| Total Assets | 1,949 | 2,272 | 2,053 | 2,679 | 2,657 | 2,843 | 3,790 | 4,037 | 4,164 | 4,452 | 4,878 | 5,091 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 19 | -221 | 257 | 179 | -37 | 151 | -352 | 203 | -281 | 518 | 162 | 61 | |
| -275 | 16 | 101 | -472 | 152 | -88 | -382 | -25 | 398 | -433 | 84 | 296 | |
| 72 | 182 | -360 | 309 | -139 | -56 | 729 | -108 | -208 | -99 | -211 | -416 | |
| Net Cash Flow | -184 | -23 | -1 | 15 | -24 | 8 | -5 | 70 | -91 | -14 | 35 | -59 |
| Free Cash Flow | 18 | -222 | 257 | 177 | -40 | 151 | -353 | 201 | -284 | 517 | 157 | 61 |
| CFO/OP | 28% | -157% | 165% | 77% | -18% | 99% | -136% | 65% | -77% | 139% | 41% | 7% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 21 | 14 | 27 | 49 | 17 | 22 | 35 | 42 | 22 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 21 | 14 | 27 | 49 | 17 | 22 | 35 | 42 | 22 |
| Working Capital Days | -379 | -402 | -220 | 120 | 221 | 84 | 136 | 57 | 83 | 44 | 31 | 0 |
| ROCE % | 5% | 7% | 7% | 12% | 5% | 6% | 7% | 11% | 8% | 10% | 13% | 18% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Distressed Credit AUM (JMFARC) Rs Cr |
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| Wealth Management Total AUM Rs Cr |
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| Affordable Home Loans AUM Rs Cr |
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| Affordable Home Loans Branches count |
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| Mutual Fund Non-Liquid AAUM Rs Cr |
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| Wealth Management Recurring AUM Rs Cr |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Intimation under Regulation 30 of SEBI Listing Regulations with respect to Earnings call intimation.
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Announcement under Regulation 30 (LODR)-Change in Management
23 Jul - Chirag Negandhi ceased as SMP on July 23, 2026, after resigning for personal reasons.
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Board Meeting Intimation for Consideration Of Unaudited Financial Results For The First Quarter Ended June 30, 2026.
14 Jul - Board meets August 3, 2026 to approve Q1 FY27 unaudited standalone and consolidated results.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jul - We are enclosing the certificate of compliance under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 as received by us from KFin Technologies Limited, …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Jul - Pursuant to Reg 30 of SEBI Listing Regulations, we enclosing newspaper advertisement in connection with 41st Annual General Meeting
Annual reports
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Financial Year 2026
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Concalls
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Jun 2026Transcript PPT REC
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Revenue Split FY26:[1]
Wealth Management: 32%
Private Markets: 29%
- Corporate Advisory and Capital
Markets: 21%
- Affordable Home Loans: 10%
- Treasury and Others: 6%
- Asset Management: 1%