JM Financial Ltd

About [ edit ]

JM Financial is engaged in the holding company activities, advisors in equity and debt capital markets, management of capital markets transactions, mergers & acquisitions, advisory, private equity syndication, corporate finance advisory business and admin(Source : 202003 Annual Report Page No: 21)

  • Market Cap 8,022 Cr.
  • Current Price 84.2
  • High / Low 102 / 55.4
  • Stock P/E 14.8
  • Book Value 69.5
  • Dividend Yield 0.24 %
  • ROCE 13.6 %
  • ROE 10.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Debtor days have improved from 69.27 to 34.35 days.
  • Company's median sales growth is 20.59% of last 10 years

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 12.13% for last 3 years.
  • Dividend payout has been low at 14.29% of profits over last 3 years

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
884 849 968 862 784 850 845 901 836 687 801 885
180 195 208 137 189 195 221 237 281 224 265 272
Operating Profit 704 654 761 725 595 656 625 664 555 463 536 613
OPM % 80% 77% 79% 84% 76% 77% 74% 74% 66% 67% 67% 69%
Other Income -157 3 7 2 8 6 6 5 5 4 3 6
Interest 303 335 381 378 352 350 349 354 333 273 289 278
Depreciation 7 6 7 7 7 10 10 10 11 10 10 10
Profit before tax 237 316 380 342 245 302 271 305 215 184 240 331
Tax % 28% 37% 37% 35% 28% 36% 28% 27% 24% 25% 23% 24%
Net Profit 166 143 163 137 129 127 130 158 131 94 139 181
EPS in Rs 1.98 1.70 1.95 1.64 1.53 1.51 1.54 1.87 1.55 0.98 1.46 1.90

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
458 601 886 864 1,042 1,007 1,342 1,685 2,359 3,062 3,494 3,446 3,208
468 365 391 383 399 402 448 459 582 767 743 933 1,043
Operating Profit -9 236 495 482 643 605 895 1,225 1,777 2,295 2,751 2,513 2,166
OPM % -2% 39% 56% 56% 62% 60% 67% 73% 75% 75% 79% 73% 68%
Other Income 7 28 -0 9 -0 -1 61 -0 -0 35 6 8 18
Interest 64 50 254 296 377 308 420 512 782 1,139 1,446 1,386 1,173
Depreciation 12 12 12 11 12 15 18 20 23 26 27 41 41
Profit before tax -78 201 228 183 254 280 517 693 972 1,165 1,283 1,094 969
Tax % -38% 24% 23% 33% 30% 29% 30% 32% 34% 33% 35% 29%
Net Profit -105 152 175 121 183 210 331 400 470 601 572 545 544
EPS in Rs 2.43 2.77 4.22 5.08 5.92 7.17 6.81 6.48 5.89
Dividend Payout % -14% 25% 26% 37% 37% 36% 32% 29% 25% 25% 15% 3%
Compounded Sales Growth
10 Years:19%
5 Years:21%
3 Years:13%
TTM:-5%
Compounded Profit Growth
10 Years:14%
5 Years:11%
3 Years:5%
TTM:0%
Stock Price CAGR
10 Years:11%
5 Years:16%
3 Years:-15%
1 Year:23%
Return on Equity
10 Years:12%
5 Years:13%
3 Years:12%
Last Year:10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
75 75 75 75 75 76 78 79 79 84 84 84 95
Reserves 1,672 1,782 1,904 1,864 1,975 2,111 2,465 2,831 3,240 4,471 5,048 5,555 6,525
Borrowings 134 1,842 3,347 3,202 4,197 2,988 4,723 6,672 9,444 14,988 13,991 11,756 10,879
455 630 727 564 679 756 1,239 1,480 3,782 2,664 3,517 3,351 4,137
Total Liabilities 2,336 4,329 6,053 5,705 6,927 5,930 8,505 11,061 16,545 22,206 22,640 20,746 21,637
198 194 200 104 101 228 445 444 474 427 424 450 434
CWIP 2 1 0 0 0 1 2 1 2 3 1 1 1
Investments 603 996 884 570 568 495 640 772 2,156 2,388 2,933 4,014 3,076
1,533 3,138 4,969 5,030 6,258 5,207 7,418 9,844 13,913 19,388 19,282 16,280 18,126
Total Assets 2,336 4,329 6,053 5,705 6,927 5,930 8,505 11,061 16,545 22,206 22,640 20,746 21,637

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
479 -1,377 -810 376 -402 1,058 -1,717 -918 -2,546 -3,584 773 3,164
116 -291 -533 185 167 585 -281 264 -326 -708 -148 -901
-976 1,630 1,134 -496 256 -1,594 1,783 1,305 2,424 4,540 -522 -2,205
Net Cash Flow -382 -37 -209 66 21 48 -215 651 -448 247 103 58

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % -1% 9% 11% 9% 11% 10% 15% 14% 16% 14% 14% 14%
Debtor Days 34 69 48 67 63 71 62 77 182 102 72 34
Inventory Turnover 0.11 0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.03

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
62.12 62.00 61.99 62.06 62.07 62.01 62.06 62.06 62.05 54.84 54.82 54.81
16.11 16.68 17.66 17.38 17.89 19.82 20.26 20.70 20.91 25.66 27.15 24.00
4.10 4.26 4.70 4.76 4.88 3.95 3.75 3.75 4.18 8.19 7.23 9.26
17.67 17.05 15.65 15.80 15.16 14.22 13.93 13.49 12.85 11.31 10.80 11.93

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