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JM Financial Limited

JM Financial Limited

JMFINANCIL.BO
JM Financial LimitedIN flagBombay Stock Exchange
132.25
INR
+1.60
- -
126.50BMarket Cap
JM Financial Limited
JMFINANCIL.BO
(Bombay Stock Exchange)

Recent

price

132.25

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
8.73
7.71
8.86
9.26
12.84
14.88
19.86
23.17
24.28
24.56
22.8
28.02
21.67
28.19
28.48
36.59
28.25
Revenue per Share
2.33
1.62
2.44
2.78
4.32
5.08
5.93
7.48
6.82
6.48
6.34
8.11
6.26
4.29
8.59
12.57
9.75
Basic EPS, GAAP
-10.92
4.92
-5.48
12.52
-25.53
-11.9
-32.91
-44.91
9
37.51
10.35
-36.44
-25.47
37.49
57.89
5.4
- -
Free Cash Flow per Basic Share
0.59
0.74
1.23
1.2
1.33
1.78
1.82
2.05
2.05
0.55
0.19
1.01
2.06
0.91
2.05
4.2
- -
Dividend per Share
18.55
18.55
19.37
20.31
21.88
23.43
25.67
29.34
31.08
36
37.57
41.88
44.35
45.34
51.03
1
1
Book Value per Share
26.66
26.66
28.24
29.85
40.3
43.97
63.9
79.83
91.75
95.99
103.36
110.79
117.38
114.94
106.21
117.89
117.92
Tangible Book Value per Share
750
750
751
754
766
788
793
803
839
841
930
954
955
955
956
956
956
Basic Weighted Avg Shares
6,544
5,779
6,653
6,988
9,828
11,726
15,752
18,604
20,383
20,653
21,214
26,716
20,686
26,927
27,232
34,986
27,008
Sales/Revenue/Turnover
81.86
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
124
115
122
152
180
203
233
262
271
410
398
378
419
530
638
784
592
Depreciation Expense
1,746
1,212
1,829
2,095
3,305
4,005
4,702
6,009
5,722
5,450
5,901
7,732
5,973
4,098
8,213
12,020
9,320
Net Income, GAAP
23.16
32.59
29.51
28.55
30.25
32.11
34.46
32.77
34.79
28.9
24.44
26.38
25.6
92.21
22.56
25.53
25.41
Effective Tax Rate (%)
26.68
20.97
27.5
29.98
33.63
34.15
29.85
32.3
28.07
26.39
27.82
28.94
28.87
15.22
30.16
34.36
34.51
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
32,024
32,024
41,972
29,885
47,226
66,719
109,534
149,876
139,911
117,557
124,052
134,980
159,395
162,277
115,074
116,346
116,346
LT Debt
20,796
20,796
22,010
23,621
31,976
35,780
51,291
64,724
77,661
81,344
96,760
106,256
112,698
110,560
102,304
113,581
113,581
Total Equity
11.32
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
23.82
8.71
12.86
14.03
20.61
22.74
24.22
27.37
23.05
19.34
18.1
20.65
14.52
9.57
17.84
48.32
37.47
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
- -
956
Market Capitalization
152,573
143,532
108,546

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
- -
- -
4,722
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.07%
3.5%
11.02%
Free Cash Flow
-43.06%
-154.86%
-90.67%
Net Income, GAAP
16.76%
24.73%
46.35%
Sales/Revenue/Turnover
12.92%
12.63%
28.47%
Total Cash Common Dividend
61.1%
144.91%
104.88%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,692
6,990
8,120
6,125
26,927
2025
6,512
6,391
6,861
7,468
27,232
2026
10,748
- -
9,014
7,246
34,986

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.74
2.04
2.91
- -
4.29
2025
1.79
2.43
2.19
2.19
8.59
2026
4.75
- -
3.27
1.73
12.57

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.91
2025
- -
- -
- -
- -
2.05
2026
- -
- -
- -
- -
4.2
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Business
JM Financial Limited is a diversified financial services group headquartered in Mumbai, India, established in 1973. The company operates primarily in investment banking, mortgage lending, asset reconstruction, private equity funds, commodity sales and trading, wealth management, alternative investment funds, financing and lending, housing finance, and distressed asset management. Its investment banking services cater to institutional, corporate, government, and high-net-worth clients, encompassing institutional equities and research, private wealth management, portfolio management services, and broking and mutual fund distribution through its platform AWS. Geographic operations include India with a broad focus on wholesale and retail mortgage lending, serving real estate developers as well as affordable home loan customers and secured micro, small, and medium enterprises (MSMEs). Recent major developments include a strategic acquisition approved by the Competition Commission of India in October 2024 where JM Financial Limited acquired a 42.99 percent stake in JM Financial Credit Solutions Limited (JMFCSL) for Rs 1,282 crore, which subsequently took a 71.79 percent controlling stake in JM Financial Asset Reconstruction Company Limited (JMFARC). This consolidation expands JM Financial's footprint in asset reconstruction and credit solutions. The company also launched Bondskart, a digital platform aimed at simplifying investment in debt securities, enhancing its retail investor outreach and digital capabilities. Financial performance highlights include reaching a highest-ever operating profit after tax reflecting robust operational efficiency and net worth crossing ₹10,000 crore, underscoring long-term financial stability and investor value creation. JM Financial serves a wide range of clients through its comprehensive product suite that includes private equity funds like JM Focused Fund, JM Midcap Fund, JM ELSS Tax Saver Fund, JM Small Cap Fund, and others covering various risk-return profiles. The group leverages its asset management and wealth management arms to provide tailored solutions to elite and retail investors. Through continued expansions, acquisitions, and digital innovation, JM Financial maintains its leadership in India's financial services sector while diversifying and strengthening its core capabilities and client offerings.