JM Financial Ltd
₹ 129
2.26%
20 Aug
- 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 ₹ 12,345 Cr.
- Current Price ₹ 129
- High / Low ₹ 200 / 112
- Stock P/E 11.7
- Book Value ₹ 111
- Dividend Yield 2.52 %
- ROCE 11.6 %
- ROE 11.9 %
- Face Value ₹ 1.00
Pros
- Stock is trading at 1.16 times its book value
- Company has been maintaining a healthy dividend payout of 34.6%
Cons
- The company has delivered a poor sales growth of 5.63% over past five years.
- Company has a low return on equity of 8.99% over last 3 years.
- Debtor days have increased from 73.5 to 124 days.
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,342 | 1,685 | 2,359 | 3,062 | 3,494 | 3,446 | 3,211 | 3,724 | 3,292 | 4,787 | 4,410 | 4,223 | 4,180 | |
| 448 | 459 | 582 | 767 | 743 | 933 | 1,009 | 1,296 | 1,170 | 2,017 | 2,087 | 1,581 | 1,821 | |
| Operating Profit | 895 | 1,225 | 1,777 | 2,295 | 2,751 | 2,513 | 2,202 | 2,429 | 2,122 | 2,770 | 2,323 | 2,641 | 2,360 |
| OPM % | 67% | 73% | 75% | 75% | 79% | 73% | 69% | 65% | 64% | 58% | 53% | 63% | 56% |
| 61 | -0 | -0 | 35 | 6 | 8 | 15 | 39 | 51 | -802 | 43 | 17 | 162 | |
| Interest | 420 | 512 | 782 | 1,139 | 1,446 | 1,386 | 1,111 | 1,082 | 1,179 | 1,562 | 1,305 | 999 | 995 |
| Depreciation | 18 | 20 | 23 | 26 | 27 | 41 | 40 | 38 | 42 | 53 | 64 | 78 | 84 |
| Profit before tax | 517 | 693 | 972 | 1,165 | 1,283 | 1,094 | 1,067 | 1,348 | 953 | 353 | 997 | 1,580 | 1,443 |
| Tax % | 30% | 32% | 34% | 33% | 35% | 29% | 24% | 26% | 26% | 92% | 23% | 26% | |
| 379 | 526 | 649 | 785 | 837 | 778 | 808 | 992 | 709 | 31 | 774 | 1,201 | 1,111 | |
| EPS in Rs | 4.22 | 5.08 | 5.92 | 7.17 | 6.81 | 6.48 | 6.19 | 8.10 | 6.26 | 4.29 | 8.59 | 12.57 | 10.87 |
| Dividend Payout % | 32% | 29% | 25% | 25% | 15% | 3% | 8% | 20% | 43% | 47% | 31% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 6% |
| 3 Years: | 9% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 16% |
| 3 Years: | 27% |
| TTM: | -4% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 7% |
| 3 Years: | 17% |
| 1 Year: | -30% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 9% |
| 3 Years: | 9% |
| Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 2,465 | 2,831 | 3,240 | 4,471 | 5,048 | 5,555 | 6,905 | 7,591 | 8,041 | 8,395 | 9,632 | 10,562 |
| 4,723 | 6,672 | 9,444 | 14,988 | 13,991 | 11,756 | 12,405 | 13,498 | 15,939 | 16,228 | 11,507 | 11,635 | |
| 1,239 | 1,480 | 3,782 | 2,664 | 3,517 | 3,351 | 3,973 | 4,477 | 5,137 | 4,874 | 3,112 | 4,045 | |
| Total Liabilities | 8,505 | 11,061 | 16,545 | 22,206 | 22,640 | 20,746 | 23,378 | 25,661 | 29,213 | 29,592 | 24,347 | 26,337 |
| 445 | 444 | 474 | 427 | 424 | 450 | 423 | 414 | 505 | 572 | 579 | 625 | |
| CWIP | 2 | 1 | 2 | 3 | 1 | 1 | 1 | 3 | 7 | 4 | 10 | 160 |
| Investments | 640 | 772 | 2,156 | 2,388 | 2,933 | 4,014 | 5,802 | 3,639 | 3,584 | 4,724 | 5,464 | 6,209 |
| 7,418 | 9,844 | 13,913 | 19,388 | 19,282 | 16,280 | 17,153 | 21,605 | 25,116 | 24,292 | 18,294 | 19,343 | |
| Total Assets | 8,505 | 11,061 | 16,545 | 22,206 | 22,640 | 20,746 | 23,378 | 25,661 | 29,213 | 29,592 | 24,347 | 26,337 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -1,717 | -918 | -2,546 | -3,584 | 773 | 3,164 | 969 | -3,203 | -2,449 | 3,635 | 5,569 | 581 | |
| -281 | 264 | -326 | -708 | -148 | -901 | -2,249 | 2,616 | -443 | -2,090 | -2,475 | -532 | |
| 1,783 | 1,305 | 2,424 | 4,540 | -522 | -2,205 | 1,296 | 1,024 | 2,153 | 162 | -4,786 | -116 | |
| Net Cash Flow | -215 | 651 | -448 | 247 | 103 | 58 | 16 | 437 | -739 | 1,708 | -1,692 | -68 |
| Free Cash Flow | -1,954 | -937 | -2,610 | -3,605 | 755 | 3,154 | 963 | -3,220 | -2,573 | 3,582 | 5,536 | 526 |
| CFO/OP | -173% | -56% | -125% | -136% | 46% | 141% | 58% | -113% | -102% | 145% | 249% | 30% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 62 | 77 | 182 | 102 | 72 | 34 | 58 | 49 | 135 | 43 | 53 | 124 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 62 | 77 | 182 | 102 | 72 | 34 | 58 | 49 | 135 | 43 | 53 | 124 |
| Working Capital Days | -377 | -232 | -244 | -308 | -71 | 235 | 288 | 230 | 411 | 105 | 89 | 107 |
| ROCE % | 14% | 13% | 15% | 13% | 13% | 12% | 10% | 11% | 8% | 10% | 9% | 12% |
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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Disclosure Under Regulation 30 Of SEBI Listing Regulations
- Please find attached intimation under Regulation 30 of SEBI Listing Regulations with respect to the ESG Rating provided by ESG Risk Assessments & Insights Limited
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Pursuant to Reg.30 of SEBI Listing Regulations, we are enclosing copies of the newspaper advertisements relating to Special Window for re-lodgement of transfer requests of …
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Please find attached transcript of the earnings conference call of the Company held on Tuesday, August 4, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- JM Financial uploaded audio recording of its August 4, 2026 Q1 FY27 earnings call.
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Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
- JM Financial’s August 3, 2026 AGM resolutions passed, including FY26 financials, final dividend, and director reappointments.
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
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Annual Report 2013
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Concalls
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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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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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May 2024Transcript PPT REC
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Feb 2024TranscriptAI SummaryPPT
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Nov 2023Transcript PPT
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Aug 2023TranscriptAI SummaryPPT
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May 2023TranscriptPPT
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May 2023Transcript PPT
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May 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Nov 2022Transcript PPT
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Aug 2022TranscriptAI SummaryPPT
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Jun 2022TranscriptAI SummaryPPT
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Jun 2022Transcript PPT
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May 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Nov 2021Transcript PPT
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Oct 2021TranscriptAI SummaryPPT
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Sep 2021TranscriptAI SummaryPPT
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Sep 2021TranscriptAI SummaryPPT
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Sep 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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May 2021Transcript PPT
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May 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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Oct 2020TranscriptAI SummaryPPT
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Oct 2020TranscriptAI SummaryPPT
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Oct 2020Transcript PPT
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Jul 2020TranscriptAI SummaryPPT
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Jun 2020TranscriptAI SummaryPPT
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Jun 2020Transcript PPT
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Oct 2019Transcript PPT
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Aug 2019TranscriptAI SummaryPPT
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May 2019Transcript PPT
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May 2019TranscriptAI SummaryPPT
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Apr 2019TranscriptAI SummaryPPT
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Oct 2018Transcript PPT
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Oct 2018TranscriptAI SummaryPPT
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Oct 2018TranscriptAI SummaryPPT
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Jul 2018TranscriptAI SummaryPPT
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May 2018TranscriptPPT
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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%