JM Financial Ltd.
•Add ratio to table
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Wealth and Asset Management: 32.2% • Private Markets: 28.6% • Corporate Advisory and Capital Markets: 20.9%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 31.7% CAGR over last 5 years
- Solid return on assets for a lender - ROA of 13.9%
- Asset quality is healthy - gross NPA of just 0.5%
- Company has delivered good sales growth of 19.2% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 44.8%
CONS
- A large part of profit comes from other income (45.2% of PBT)
- Recent results are weak - TTM profit is down 11.3% versus prior year
- Operating margins have contracted to 55.6% from 77.7%
- Effective tax rate is unusually low at 14.5% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1924.00 | 30.39 | 308236.60 | 0.08 | 62966.70 | 1081.55 | 420369.00 | 1091.26 | 11.88 | 40.79 |
| AIIL | 512.35 | 20.74 | 43510.07 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 13.85 | 88.91 |
| CHOLAHLDNG | 1525.85 | 10.74 | 28652.02 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13146.60 | 13.50 | 26598.34 | 0.65 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 272.25 | 23.23 | 26194.64 | 0.07 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13098.50 | 53.75 | 14969.71 | 1.68 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11436.55 | 92.41 | 12694.14 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 127.35 | 11.72 | 12186.88 | 2.55 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 441.15 | 20.13 | 9798.11 | 2.53 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 258.30 | 162.10 | 8904.47 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 4.71 | -2.08 |
| KAMAHOLD | 2288.70 | 7.89 | 7344.57 | 1.81 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| PILANIINVS | 4326.95 | 145.21 | 4790.91 | 0.21 | -47.26 | -17.55 | 14.44 | -70.70 | 1.41 | -9.33 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 142 | 167 | 218 | 191 | 119 | 226 | 195 | 225 | 246 | 275 | 195 | 119 | 82 | |
| 78 | 97 | 98 | 121 | 70 | 138 | 95 | 76 | 82 | 109 | 98 | 83 | 83 | |
| Operating Profit | 64 | 70 | 120 | 70 | 49 | 87 | 99 | 150 | 165 | 166 | 92 | 37 | 4 |
| OPM % | 45.22% | 41.99% | 55.12% | 36.50% | 40.84% | 38.63% | 51.00% | 66.40% | 66.83% | 60.25% | 47.08% | 30.79% | 4.25% |
| Other Income | 3 | 96 | 2 | 2 | 2 | 192 | 2 | 4 | 2 | 120 | 242 | 3 | 3 |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| 63 | 162 | 118 | 67 | 46 | 275 | 96 | 150 | 162 | 282 | 332 | 35 | 3 | |
| Tax % | 20.75% | 11.94% | 23.97% | 59.24% | 24.09% | -12.34% | 17.05% | 11.87% | 17.71% | 12.66% | 13.27% | 27.07% | 10.07% |
| Net Profit | 50 | 142 | 90 | 27 | 35 | 309 | 80 | 132 | 133 | 246 | 288 | 26 | 2 |
| 1 | 1 | 1 | 0 | 0 | 3 | 1 | 1 | 1 | 3 | 3 | 0 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 47 | 299 | 164 | 264 | 347 | 561 | 403 | 718 | 764 | 836 | 672 | |
| 16 | 157 | 149 | 134 | 138 | 186 | 245 | 397 | 468 | 371 | 373 | |
| Operating Profit | 31 | 141 | 15 | 130 | 208 | 374 | 158 | 320 | 296 | 464 | 299 |
| OPM % | 65.47% | 47.34% | 9.12% | 49.20% | 60.05% | 66.77% | 39.10% | 44.64% | 38.75% | 55.55% | 44.52% |
| 116 | 128 | 122 | 47 | 28 | 59 | 156 | 106 | 288 | 364 | 365 | |
| Interest | 40 | 35 | 20 | 8 | 7 | 7 | 6 | 6 | 6 | 5 | 4 |
| Depreciation | 1 | 2 | 2 | 12 | 12 | 11 | 10 | 11 | 12 | 12 | 12 |
| Profit before Tax | 107 | 233 | 116 | 156 | 217 | 416 | 297 | 410 | 566 | 811 | 652 |
| Tax % | 0.19% | 17.61% | 3.80% | 18.63% | 19.19% | 21.19% | 13.56% | 24.52% | 1.99% | 14.55% | 13.74% |
| Net Profit | 107 | 192 | 111 | 127 | 175 | 328 | 256 | 310 | 555 | 693 | 562 |
| EPS | 1.34 | 2.37 | 1.32 | 1.51 | 1.88 | 3.43 | 2.68 | 3.24 | 5.81 | 7.25 | — |
| Dividend Payout % | 111.67% | 78.68% | 75.46% | 13.22% | 27.18% | 48.03% | 67.02% | 61.73% | 46.48% | 44.84% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 37%
- 5 Years:
- 19%
- 3 Years:
- 28%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 20%
- 5 Years:
- 32%
- 3 Years:
- 39%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- 7%
- 3 Years:
- 14%
- 1 Year:
- -31%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 10%
- 3 Years:
- 12%
- Last Year:
- 15%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 79 | 84 | 84 | 84 | 95 | 95 | 95 | 96 | 96 | 96 |
| 1,629 | 2,381 | 2,364 | 2,457 | 3,379 | 3,624 | 3,779 | 4,008 | 4,356 | 4,653 | |
| 208 | 2 | 2 | 76 | 73 | 67 | 62 | 47 | 42 | 28 | |
| Trade Payables | 1 | 9 | 3 | 4 | 5 | 9 | 8 | 22 | 15 | 22 |
| 136 | 204 | 204 | 222 | 239 | 241 | 221 | 281 | 369 | 292 | |
| Total Liabilities | 2,053 | 2,679 | 2,657 | 2,843 | 3,790 | 4,037 | 4,164 | 4,452 | 4,878 | 5,091 |
| 2 | 6 | 5 | 77 | 69 | 61 | 56 | 48 | 47 | 35 | |
| 1,769 | 2,424 | 2,389 | 2,528 | 3,021 | 3,251 | 3,098 | 3,657 | 3,962 | 4,266 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78 | 110 | 71 | |
| Cash & Bank | 12 | 43 | 15 | 22 | 15 | 86 | 61 | 45 | 79 | 19 |
| 270 | 207 | 248 | 216 | 685 | 639 | 948 | 624 | 680 | 700 | |
| Total Assets | 2,053 | 2,679 | 2,657 | 2,843 | 3,790 | 4,037 | 4,164 | 4,452 | 4,878 | 5,091 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 241 | 206 | -25 | 172 | -318 | 277 | -238 | 518 | 162 | 61 | |
| Cash from Investing | 101 | -472 | 152 | -88 | -382 | -25 | 398 | -433 | 99 | 296 |
| Cash from Financing | -360 | 309 | -139 | -56 | 729 | -108 | -208 | -99 | -211 | -416 |
| -1 | 15 | -24 | 8 | -5 | 70 | -91 | -14 | 50 | -59 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - JM Financial Limited has informed the Exchange about disclosure Under Regulation 30 of the SEBI Listing Regulations
2026-09-03 - JM Financial Limited has informed the Exchange about the ESG Rating provided by NSE Sustainability Ratings & Analytics Limited
2026-08-31 - JM Financial Limited has informed the Exchange about Credit Rating
2026-08-25 - JM Financial Limited has informed the Exchange about the ESG Rating provided by Crisil ESG Ratings & Analytics Limited
2026-08-20 - JM Financial Limited has informed the Exchange about the ESG Rating provided by ESG Risk Assessments & Insights Limited
2026-08-11 - JM Financial Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-10 - JM Financial Limited has informed the Exchange about transcript of the earnings conference call held on Tuesday, August 4, 2026.
2026-08-04 - JM Financial Limited has informed the Exchange about Link of Recording
2026-08-04 - JM Financial Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 03, 2026. Further, the company has informed the Exchange regarding voting results.
News
Recent coverage and analyst commentary for JMFINANCIL
Loading news…
AI Stock Analyst
JM Financial Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account