JM Financial Ltd

JM Financial is an operating cum holding company. It is a SEBI registered Category I Merchant Banker undertaking the business of capital markets, fund raising, mergers & acquisitions, advisory business, etc. The Company is also in investment management business for Private Equity funds. Additionally, it also has investments in its subsidiaries.

Pros:
Company has reduced debt.
Company has good consistent profit growth of 28.08% over 5 years
Company has been maintaining a healthy dividend payout of 25.94%
Cons:
Promoter's stake has decreased

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
Revenue 477 564 594 725 673 757 790 884 842 960 898 945
Interest 176 193 199 214 263 276 297 303 335 381 378 352
124 136 143 179 178 170 175 180 195 208 173 167
Financing Profit 176 235 251 333 232 311 318 401 313 371 346 426
Financing Margin % 37% 42% 42% 46% 34% 41% 40% 45% 37% 39% 39% 45%
Other Income 0 0 0 0 58 11 16 -157 10 15 2 -174
Depreciation 5 6 6 6 6 6 7 7 6 7 7 7
Profit before tax 171 229 245 326 284 316 328 237 316 380 342 245
Tax % 34% 34% 33% 36% 36% 33% 33% 28% 37% 37% 35% 28%
Net Profit 86 115 119 151 127 151 157 166 143 163 137 129
Gross NPA % 0.20% 0.20% 0.00% 0.10% 0.00% 0.60% 0.00% 0.63% 0.60% 0.00% 0.00% 0.68%
Net NPA % 0.10% 0.00% 0.00% 0.00% 0.00% 0.60% 0.00% 0.56% 0.50% 0.00% 0.00% 0.55%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
Revenue 432 2,355 458 601 886 864 1,042 1,007 1,342 1,685 2,359 3,235 3,645
Interest 8 33 64 50 254 296 377 308 420 512 782 1,145 1,446
252 540 468 365 391 383 399 402 448 459 582 756 743
Financing Profit 173 1,782 -73 186 241 186 266 297 474 713 995 1,335 1,456
Financing Margin % 40% 76% -16% 31% 27% 21% 26% 29% 35% 42% 42% 41% 40%
Other Income 14 17 7 28 -0 9 -0 -1 61 -0 -0 -0 -146
Depreciation 7 10 12 12 12 11 12 15 18 20 23 26 27
Profit before tax 180 1,790 -78 201 228 183 254 280 517 693 972 1,309 1,283
Tax % 33% 25% -38% 24% 23% 33% 30% 29% 30% 32% 34% 34%
Net Profit 91 1,307 -105 152 175 121 183 210 331 400 470 631 572
EPS in Rs 1.14 17.27 0.00 1.94 2.23 1.52 2.22 2.59 3.96 5.07 5.79 7.23
Dividend Payout % 16% 6% -14% 25% 26% 37% 37% 36% 32% 29% 25% 24%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:3.23%
5 Years:25.42%
3 Years:34.07%
TTM:17.43%
Compounded Profit Growth
10 Years:13.33%
5 Years:28.08%
3 Years:24.03%
TTM:-4.75%
Return on Equity
10 Years:10.88%
5 Years:14.39%
3 Years:15.47%
Last Year:16.30%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
30 30 75 75 75 75 75 76 78 79 79 84 84
Reserves 558 1,840 1,672 1,782 1,904 1,864 1,975 2,111 2,465 2,831 3,240 4,338 5,048
Borrowings 390 1,023 134 1,842 3,347 3,202 4,197 2,988 4,723 6,672 9,444 12,293 4,268
717 807 469 644 744 577 694 775 1,263 1,507 3,829 4,907 13,235
Total Liabilities 1,694 3,700 2,350 4,343 6,069 5,718 6,942 5,950 8,529 11,088 16,592 21,622 22,635
23 144 198 194 200 104 101 228 445 444 474 448 424
CWIP 4 3 2 1 0 0 0 1 2 1 2 3 1
Investments 242 890 603 996 884 570 568 495 640 772 2,156 3,050 2,933
1,426 2,663 1,547 3,152 4,986 5,043 6,272 5,227 7,442 9,871 13,960 18,121 19,277
Total Assets 1,694 3,700 2,350 4,343 6,069 5,718 6,942 5,950 8,529 11,088 16,592 21,622 22,635

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
312 -785 479 -1,377 -810 376 -402 1,058 -1,717 -918 -2,546 -2,004
-125 593 116 -291 -533 185 167 585 -281 264 -326 -1,166
234 579 -976 1,630 1,134 -496 256 -1,594 1,783 1,305 2,424 3,399
Net Cash Flow 421 387 -382 -37 -209 66 21 48 -215 651 -448 230

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROE % 19% 15% -6% 8% 10% 6% 9% 10% 14% 15% 15% 16%