JM Financial Ltd

JM Financial's is one of Indias leading integrated and diversified financial services group offering a wide range of products and services to corporates, financial institutions, high net worth individuals (HNIs) and retail investors.(Source : 201903 Annual Report Page No: 2)

Pros:
Company has been maintaining a healthy dividend payout of 21.71%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Company has a low return on equity of 13.82% for last 3 years.

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
Revenue 564 594 725 673 757 790 884 849 960 898 784 850
Interest 193 199 214 263 276 297 303 335 381 378 352 350
136 143 179 178 170 175 180 195 208 173 189 195
Financing Profit 235 251 333 232 311 318 401 320 371 346 244 306
Financing Margin % 42% 42% 46% 34% 41% 40% 45% 38% 39% 39% 31% 36%
Other Income 0 0 0 58 11 16 -157 3 15 2 8 6
Depreciation 6 6 6 6 6 7 7 6 7 7 7 10
Profit before tax 229 245 326 284 316 328 237 316 380 342 245 302
Tax % 34% 33% 36% 36% 33% 33% 28% 37% 37% 35% 28% 36%
Net Profit 115 119 151 127 151 157 166 143 163 137 129 127
EPS in Rs 1.45 1.50 1.90 1.59 1.90 1.97 2.06 1.70 1.95 1.64 1.53 1.51
Gross NPA % 0.20% 0.20% 0.10% 0.00% 0.60% 0.60% 0.63% 0.60% 0.50% 0.70% 0.68% 0.90%
Net NPA % 0.00% 0.00% 0.00% 0.30% 0.60% 0.50% 0.56% 0.50% 0.40% 0.60% 0.55% 0.80%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
Revenue 2,355 458 601 886 864 1,042 1,007 1,342 1,685 2,359 3,062 3,556 3,493
Interest 33 64 50 254 296 377 308 420 512 782 1,139 1,446 1,461
540 468 365 391 383 399 402 448 459 582 767 822 765
Financing Profit 1,782 -73 186 241 186 266 297 474 713 995 1,156 1,288 1,267
Financing Margin % 76% -16% 31% 27% 21% 26% 29% 35% 42% 42% 38% 36% 36%
Other Income 17 7 28 -0 9 -0 -1 61 -0 -0 35 22 32
Depreciation 10 12 12 12 11 12 15 18 20 23 26 27 31
Profit before tax 1,790 -78 201 228 183 254 280 517 693 972 1,165 1,283 1,269
Tax % 25% -38% 24% 23% 33% 30% 29% 30% 32% 34% 33% 35%
Net Profit 1,307 -105 152 175 121 183 210 331 400 470 601 572 557
EPS in Rs 17.27 0.00 1.94 2.23 1.52 2.22 2.59 3.96 5.07 5.79 7.17 6.81 6.63
Dividend Payout % 6% -14% 25% 26% 37% 37% 36% 32% 29% 25% 25% 15%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:22.74%
5 Years:28.71%
3 Years:28.28%
TTM:6.49%
Compounded Profit Growth
10 Years:22.22%
5 Years:22.15%
3 Years:12.63%
TTM:-9.73%
Return on Equity
10 Years:12.04%
5 Years:13.98%
3 Years:13.82%
Last Year:11.82%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

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 75 75 75 75 75 76 78 79 79 84 84
Reserves 1,840 1,672 1,782 1,904 1,864 1,975 2,111 2,465 2,831 3,240 4,471 5,048
Borrowings 1,023 134 1,842 3,347 3,202 4,197 2,988 4,723 6,672 9,444 14,988 13,991
807 469 644 744 577 694 775 1,263 1,507 3,829 2,752 3,613
Total Liabilities 3,700 2,350 4,343 6,069 5,718 6,942 5,950 8,529 11,088 16,592 22,294 22,736
144 198 194 200 104 101 228 445 444 474 427 424
CWIP 3 2 1 0 0 0 1 2 1 2 3 1
Investments 890 603 996 884 570 568 495 640 772 2,156 2,388 2,933
2,663 1,547 3,152 4,986 5,043 6,272 5,227 7,442 9,871 13,960 19,475 19,378
Total Assets 3,700 2,350 4,343 6,069 5,718 6,942 5,950 8,529 11,088 16,592 22,294 22,736

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-785 479 -1,377 -810 376 -402 1,058 -1,717 -918 -2,546 -3,584 772
593 116 -291 -533 185 167 585 -281 264 -326 -708 -151
579 -976 1,630 1,134 -496 256 -1,594 1,783 1,305 2,424 4,540 -518
Net Cash Flow 387 -382 -37 -209 66 21 48 -215 651 -448 247 103

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROE % 15% -6% 8% 10% 6% 9% 10% 14% 15% 15% 15% 12%