JM Financial Ltd
₹ 114
1.78%
04 Nov
- 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 ₹ 10,905 Cr.
- Current Price ₹ 114
- High / Low ₹ 168 / 103
- Stock P/E 19.0
- Book Value ₹ 50.7
- Dividend Yield 2.85 %
- 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.
- Promoter holding has increased by 0.92% over last quarter.
- 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 12.2% over last 3 years.
- Earnings include an other income of Rs.392 Cr.
* 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
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 104 | 157 | 162 | 425 | 270 | 300 | 373 | 613 | 552 | 820 | 962 | 1,200 | 648 | |
| Sales growth | +20% | +51% | +3% | +163% | -37% | +11% | +24% | +65% | -10% | +48% | +17% | +25% | -31% |
| 16 | 18 | 16 | 157 | 133 | 127 | 138 | 186 | 242 | 394 | 363 | 371 | 360 | |
| Operating Profit | 88 | 139 | 146 | 268 | 136 | 174 | 234 | 427 | 310 | 426 | 599 | 829 | 288 |
| OPM % | 85% | 88% | 90% | 63% | 51% | 58% | 63% | 70% | 56% | 52% | 62% | 69% | 44% |
| 1 | 0 | 1 | 1 | 1 | 3 | 2 | 6 | 3 | 1 | -31 | -1 | 392 | |
| Interest | 8 | 27 | 40 | 35 | 20 | 8 | 7 | 7 | 6 | 6 | 6 | 5 | 4 |
| Depreciation | 0 | 0 | 1 | 2 | 2 | 12 | 12 | 11 | 10 | 11 | 12 | 12 | 13 |
| Profit before tax | 80 | 112 | 107 | 233 | 116 | 156 | 217 | 416 | 297 | 410 | 550 | 811 | 664 |
| 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 | 572 | |
| 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 | 5.98 |
| 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: | -31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 32% |
| 3 Years: | 39% |
| TTM: | -3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 6% |
| 3 Years: | 10% |
| 1 Year: | -31% |
| 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 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 78 | 79 | 79 | 84 | 84 | 84 | 95 | 95 | 95 | 96 | 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 | 4,759 |
| 122 | 426 | 207 | 1 | 1 | 1 | 72 | 66 | 61 | 54 | 53 | 41 | 35 | |
| 183 | 191 | 121 | 187 | 174 | 269 | 216 | 234 | 216 | 289 | 363 | 291 | 248 | |
| 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 | 5,138 |
| 2 | 3 | 2 | 6 | 5 | 77 | 69 | 61 | 56 | 48 | 47 | 35 | 31 | |
| CWIP | 0 | 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 | 4,274 |
| 285 | 512 | 282 | 249 | 263 | 238 | 700 | 725 | 1,009 | 747 | 869 | 790 | 833 | |
| 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 | 5,138 |
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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 28% | -157% | 165% | 77% | -18% | 99% | -136% | 65% | -77% | 139% | 40% | 7% |
Ratios
Standalone / 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% | 14% | 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
- Announcement under Regulation 30 (LODR)-Investor Presentation
- Intimation Of Record Date
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- JM Financial reported Q2FY27 revenue of Rs. 1,056 crore, PAT Rs. 240 crore, and interim dividend of Rs. 1.65.
- Corporate Action-Board approves Dividend
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Announcement under Regulation 30 (LODR)-Dividend Updates
- JM Financial approved Q2 FY27 results and declared ₹1.65 interim dividend; record date November 11, 2026.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
from nse
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Annual Report 2013
from bse
Concalls
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Nov 2026PPT
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Aug 2026Transcript PPT REC
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Jun 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Feb 2024PPT
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Nov 2023Transcript PPT
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Nov 2021PPT
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Nov 2021PPT
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Oct 2020PPT
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Oct 2019Transcript PPT
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Oct 2018Transcript PPT
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Jul 2018PPT
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May 2018Transcript
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Oct 2017Transcript PPT
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May 2017Transcript PPT
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%