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 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

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
Revenue 464 477 564 594 725 673 757 790 933 842 960 898
Interest 139 176 193 199 214 263 276 297 307 335 381 378
129 124 136 143 179 178 170 175 217 195 208 173
Financing Profit 196 176 235 251 333 232 311 318 408 313 371 346
Financing Margin % 42% 37% 42% 42% 46% 34% 41% 40% 44% 37% 39% 39%
Other Income 11 0 0 0 0 58 11 16 0 10 15 2
Depreciation 5 5 6 6 6 6 6 7 7 6 7 7
Profit before tax 201 171 229 245 326 284 316 328 402 316 380 342
Tax % 29% 34% 34% 33% 36% 36% 33% 33% 35% 37% 37% 35%
Net Profit 114 86 115 119 151 127 151 157 189 143 163 137
Gross NPA % 0.00% 0.20% 0.20% 0.00% 0.10% 0.00% 0.60% 0.00% 0.60% 0.60% 0.00% 0.00%
Net NPA % 0.00% 0.10% 0.00% 0.00% 0.00% 0.00% 0.60% 0.00% 0.60% 0.50% 0.00% 0.00%
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 3,634
Interest 8 33 64 50 254 296 377 308 420 512 782 1,145 1,402
252 540 468 365 391 383 399 402 448 459 582 756 793
Financing Profit 173 1,782 -73 186 241 186 266 297 474 713 995 1,335 1,439
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 28
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 1,440
Tax % 33% 25% -38% 24% 23% 33% 30% 29% 30% 32% 34% 34%
Net Profit 91 1,307 -105 152 175 121 183 210 331 400 470 631 632
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:23.37%
Compounded Profit Growth
10 Years:13.33%
5 Years:28.08%
3 Years:24.03%
TTM:7.91%
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 Sep 2018
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 4,913
Borrowings 390 1,023 134 1,842 3,347 3,202 4,197 2,988 4,723 6,672 9,444 12,293 4,702
717 807 469 644 744 577 694 775 1,263 1,507 3,829 4,907 17,389
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 27,088
23 144 198 194 200 104 101 228 445 444 474 448 372
CWIP 4 3 2 1 0 0 0 1 2 1 2 3 3
Investments 242 890 603 996 884 570 568 495 640 772 2,156 3,050 2,656
1,426 2,663 1,547 3,152 4,986 5,043 6,272 5,227 7,442 9,871 13,960 18,121 24,057
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 27,088

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 / 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%