JM Financial Ltd

JM Financial Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

JM Financial Ltd

₹ 140 -0.36%
13 Dec - close price
jmfl.com BSE: 523405 NSE: JMFINANCIL
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

Business Segments
1) Investment Bank (39% in H1 FY25 vs 33% in FY22): [1] [2] The company manages capital markets transactions, advises on mergers & acquisitions, and private equity syndication. It also includes institutional equities business and research, private wealth management, PMS, private equity funds, fixed income, etc. [3]

In FY24, the company ranked No. 1 in IPO and QIP with 47% and 38% market share, respectively, in terms of funds raised. It acted on some of the largest marquee transactions, with an 80% market share in the top 10 IPOs by size and a 60% market share in the top 5 QIPs by size. [4] In Q2 FY25, the company participated in deals like BRLM to IPO of Rs. 6,560 Cr for Bajaj HFC, QIP of Rs. 8,500 Cr for Vedanta, Block Deal of Rs. 4,554 Cr for Nexus Select Trust, etc. The segment revenue grew by 55% between FY22 and FY24. [3]

Website BSE NSE
  • Market Cap ₹ 13,335 Cr.
  • Current Price ₹ 140
  • High / Low ₹ 169 / 69.0
  • Stock P/E 21.6
  • Book Value ₹ 91.1
  • Dividend Yield 1.43 %
  • ROCE 10.1 %
  • ROE 0.78 %
  • Face Value ₹ 1.00
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Pros

  • Company has been maintaining a healthy dividend payout of 36.7%
  • Debtor days have improved from 75.7 to 43.4 days.
  • Company's working capital requirements have reduced from 249 days to 105 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 6.50% over past five years.
  • Company has a low return on equity of 6.09% over last 3 years.

* 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.

Peer comparison

Sector: Finance Industry: Finance & Investments

Part of BSE 400 MidSmallCap Index BSE Financial Services BSE 250 SmallCap Index Nifty 500 Nifty Smallcap 250

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
962 952 810 791 859 928 846 1,067 1,197 1,236 1,261 1,077 1,191
355 323 258 276 279 313 459 473 535 430 580 462 700
Operating Profit 607 629 552 515 580 615 387 594 663 806 681 615 491
OPM % 63% 66% 68% 65% 67% 66% 46% 56% 55% 65% 54% 57% 41%
7 13 30 14 18 19 26 14 17 25 -831 17 21
Interest 287 283 250 261 270 301 347 366 388 400 407 370 343
Depreciation 9 9 10 10 10 10 12 12 13 14 14 16 15
Profit before tax 317 349 322 259 318 322 54 230 278 417 -572 245 154
Tax % 28% 25% 29% 24% 25% 25% 40% 24% 26% 23% 18% 24% 6%
228 261 228 198 238 240 32 177 206 322 -674 187 144
EPS in Rs 1.83 2.27 1.87 1.78 1.89 1.99 0.60 1.74 2.04 2.91 -2.39 1.79 2.43
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,042 1,007 1,342 1,685 2,359 3,062 3,494 3,446 3,211 3,724 3,291 4,786 4,764
399 402 448 459 582 767 743 933 1,009 1,296 1,170 2,017 2,172
Operating Profit 643 605 895 1,225 1,777 2,295 2,751 2,513 2,202 2,429 2,120 2,768 2,593
OPM % 62% 60% 67% 73% 75% 75% 79% 73% 69% 65% 64% 58% 54%
-0 -1 61 -0 -0 35 6 8 15 39 53 -801 -769
Interest 377 308 420 512 782 1,139 1,446 1,386 1,111 1,082 1,179 1,562 1,521
Depreciation 12 15 18 20 23 26 27 41 40 38 42 53 59
Profit before tax 254 280 517 693 972 1,165 1,283 1,094 1,067 1,348 953 353 244
Tax % 30% 29% 30% 32% 34% 33% 35% 29% 24% 26% 26% 92%
199 225 379 526 649 785 837 778 808 992 709 31 -21
EPS in Rs 2.43 2.77 4.22 5.08 5.92 7.17 6.81 6.48 6.19 8.10 6.26 4.29 4.74
Dividend Payout % 37% 36% 32% 29% 25% 25% 15% 3% 8% 20% 43% 47%
Compounded Sales Growth
10 Years: 17%
5 Years: 7%
3 Years: 14%
TTM: 18%
Compounded Profit Growth
10 Years: -11%
5 Years: -35%
3 Years: -52%
TTM: 6%
Stock Price CAGR
10 Years: 12%
5 Years: 8%
3 Years: 25%
1 Year: 38%
Return on Equity
10 Years: 9%
5 Years: 7%
3 Years: 6%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 75 76 78 79 79 84 84 84 95 95 95 96 96
Reserves 1,975 2,122 2,465 2,831 3,240 4,471 5,048 5,555 6,905 7,591 8,041 8,395 8,615
4,197 2,988 4,723 6,672 9,444 14,988 13,991 11,756 12,405 13,498 15,939 16,228 13,949
679 744 1,239 1,480 3,782 2,664 3,517 3,351 3,973 4,477 5,137 4,874 5,372
Total Liabilities 6,927 5,930 8,505 11,061 16,545 22,206 22,640 20,746 23,378 25,661 29,213 29,592 28,031
101 228 445 444 474 427 424 450 423 414 505 572 574
CWIP 0 1 2 1 2 3 1 1 1 3 7 4 8
Investments 568 495 640 772 2,156 2,388 2,933 4,014 5,802 3,639 3,584 4,724 5,810
6,258 5,207 7,418 9,844 13,913 19,388 19,282 16,280 17,153 21,605 25,116 24,292 21,638
Total Assets 6,927 5,930 8,505 11,061 16,545 22,206 22,640 20,746 23,378 25,661 29,213 29,592 28,031

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-402 1,058 -1,717 -918 -2,546 -3,584 773 3,164 969 -3,458 -2,307 3,635
167 585 -281 264 -326 -708 -148 -901 -2,249 2,614 -592 -2,090
256 -1,594 1,783 1,305 2,424 4,540 -522 -2,205 1,296 1,281 2,160 162
Net Cash Flow 21 48 -215 651 -448 247 103 58 16 437 -739 1,708

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 63 71 62 77 182 102 72 34 58 49 135 43
Inventory Days
Days Payable
Cash Conversion Cycle 63 71 62 77 182 102 72 34 58 49 135 43
Working Capital Days 1,072 678 752 601 588 268 295 235 288 230 411 105
ROCE % 11% 10% 14% 13% 15% 13% 13% 12% 10% 11% 8% 10%

Shareholding Pattern

Numbers in percentages

10 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
55.27% 55.42% 55.41% 56.02% 56.02% 56.49% 56.48% 56.47% 56.44% 56.44% 56.43% 56.43%
21.41% 21.83% 21.13% 22.12% 22.14% 21.24% 20.72% 18.82% 17.92% 18.19% 16.83% 15.31%
9.72% 8.78% 8.79% 8.30% 7.35% 7.47% 7.61% 8.06% 8.46% 8.46% 8.63% 8.57%
13.60% 13.97% 14.67% 13.57% 14.49% 14.80% 15.19% 16.66% 17.17% 16.91% 18.11% 19.70%
No. of Shareholders 95,17299,22999,90398,30197,86596,9361,06,9891,19,3011,35,1031,58,4461,63,9441,62,210

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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