Finance
Valuation | |
|---|---|
| Market Cap | 11.94 kCr |
| Price/Earnings (Trailing) | 10.45 |
| Price/Sales (Trailing) | 2.77 |
| EV/EBITDA | 3.99 |
| Price/Free Cashflow | 3.02 |
| MarketCap/EBT | 7.78 |
| Enterprise Value | 10.76 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -2.6% |
| Price Change 1M | -13% |
| Price Change 6M | -19.6% |
| Price Change 1Y | 14.6% |
| 3Y Cumulative Return | 24.5% |
| 5Y Cumulative Return | 8% |
| 7Y Cumulative Return | 6.6% |
| 10Y Cumulative Return | 11.9% |
| Revenue (TTM) |
| 4.32 kCr |
| Rev. Growth (Yr) | 0.50% |
| Earnings (TTM) | 1.27 kCr |
| Earnings Growth (Yr) | 53.6% |
Profitability | |
|---|---|
| Operating Margin | 36% |
| EBT Margin | 36% |
| Return on Equity | 10.66% |
| Return on Assets | 4.73% |
| Free Cashflow Yield | 33.12% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | -2.47 kCr |
| Cash Flow from Operations (TTM) | 5.57 kCr |
| Cash Flow from Financing (TTM) | -4.79 kCr |
| Cash & Equivalents | 1.18 kCr |
| Free Cash Flow (TTM) | 5.53 kCr |
| Free Cash Flow/Share (TTM) | 57.88 |
Balance Sheet | |
|---|---|
| Total Assets | 24.58 kCr |
| Total Liabilities | 13.67 kCr |
| Shareholder Equity | 10.91 kCr |
| Net PPE | 517.73 Cr |
| Inventory | 127.5 Cr |
| Goodwill | 52.44 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 0.4 |
| Interest/Cashflow Ops | 5.7 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 4.2 |
| Dividend Yield | 3.36% |
| Shares Dilution (1Y) | 0.10% |
| Shares Dilution (3Y) | 0.20% |
Dividend: Dividend paying stock. Dividend yield of 3.36%.
Balance Sheet: Strong Balance Sheet.
Profitability: Very strong Profitability. One year profit margin are 27%.
Past Returns: Outperforming stock! In past three years, the stock has provided 24.5% return compared to 12.8% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money looks to be reducing their stake in the stock.
Momentum: Stock is suffering a negative price momentum. Stock is down -13% in last 30 days.
Dividend: Dividend paying stock. Dividend yield of 3.36%.
Balance Sheet: Strong Balance Sheet.
Profitability: Very strong Profitability. One year profit margin are 27%.
Past Returns: Outperforming stock! In past three years, the stock has provided 24.5% return compared to 12.8% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money looks to be reducing their stake in the stock.
Momentum: Stock is suffering a negative price momentum. Stock is down -13% in last 30 days.
Investor Care | |
|---|---|
| Dividend Yield | 3.36% |
| Dividend/Share (TTM) | 4.2 |
| Shares Dilution (1Y) | 0.10% |
| Earnings/Share (TTM) | 13.03 |
Financial Health | |
|---|---|
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 40.66 |
| RSI (5d) | 55.33 |
| RSI (21d) | 36.78 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
Summary of JM Financial's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management provided a positive outlook for JM Financial Limited, emphasizing robust growth across various business segments. Key highlights include an operating PAT of INR 270 crores for Q2 FY26, with a year-on-year increase of 16%. The projected growth in transaction activity reflects a strong deal pipeline of nearly INR 120,000 crores in IPOs, with expected execution over the next 6 to 12 months.
The Wealth Management segment has expanded significantly, with a staggering 43% increase in sales and relationship managers year-on-year, contributing to a recurring AUM growth of 26% to INR 32,000 crores. The average AUM from non-liquid assets has also grown by 36% year-on-year, reaching approximately INR 12,100 crores. Moreover, the SIP book has surged 59% year-on-year to INR 115 crores per month.
In the Affordable Housing segment, the AUM has reached INR 3,031 crores, indicating a year-on-year growth of 28%. The management is strategically placed to sustain long-term growth, stating that they aim for a strong recovery in their private markets business, predicting a book growth of 20% comfortably.
On profitability, management highlighted a commitment to mitigating operating expenses while focusing on strategic investments in growth areas. They anticipate the Asset Management division to achieve breakeven within the next couple of years, driven by an increase in AUM through new fund strategies.
Importantly, the company declared an interim dividend of INR 1.5 per share as part of its shareholder distribution strategy, reflecting confidence in financial stability and profitability moving forward.
Understand JM Financial ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| J. M. Financial and Investment Consultancy Services Private Limited | 24.69% |
| Nimesh Kampani | 13.11% |
| J. M. Assets Management Private Limited | 11.3% |
| Aruna Kampani | 2.82% |
| BARON EMERGING MARKETS FUND | 2.23% |
| SNK Investments Private Limited | 1.95% |
| ICICI PRUDENTIAL (VARIOUS SCHEMES) |
Detailed comparison of JM Financial against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCE | Bajaj Finance | 6 LCr | 79.39 kCr | -1.30% | +13.40% | 26.58 | 7.56 | - | - |
| HDFCAMC | HDFC Asset Management Co. | 1.18 LCr |
Comprehensive comparison against sector averages
JMFINANCIL metrics compared to Finance
| Category | JMFINANCIL | Finance |
|---|---|---|
| PE | 11.00 | 15.75 |
| PS | 2.91 | 2.69 |
| Growth | -10.9 % | 12.3 % |
JM Financial Limited, together with its subsidiaries, provides various integrated and diversified financial services to corporations, financial institutions, government organizations, high net-worth individuals, and retail customers in India and internationally. The company operates in four segments: Investment Bank; Mortgage Lending; Alternative & Distressed Credit; and Asset Management, Wealth Management & Securities Business (Platform AWS). The Investment Bank segment manages capital markets transactions, as well as advises on mergers and acquisitions, and private equity syndication. This segment also engages in institutional equities business and research, portfolio management services, private equity funds, fixed income, syndication, and finance. Its Mortgage Lending segment offers finance against commercial and residential real estate to a range of corporate and non-corporate clients; and housing finance and lending services to educational institutions. The Alternative & Distressed Credit segment provides securitization and reconstruction of financial assets and manages alternative credit funds. Its Platform AWS segment offers investment advisory and distribution services, which include equity brokerage, elite and retail wealth management, and margin trade financing; distributes financial products; and manages mutual fund assets through various schemes. It also provides real estate consulting; and capital market lending services. The company was formerly known as J.M. Share and Stock Brokers Private Limited and changed its name to JM Financial Limited in September 2004. JM Financial Limited was founded in 1973 and is headquartered in Mumbai, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
JMFINANCIL vs Finance (2021 - 2026)
Here are the major questions and detailed answers from the Q&A section of the earnings transcript for JM Financial Limited's conference call held on November 7, 2025:
Q1: "How do we track the Wealth Management business going ahead? Have we made most of the opex flowing through the P&L or do we have more opex to come? Can we see this recurring AUM growing at a faster clip?"
A1: "We will continue to invest because our profits decreased due to lower income from transactional and pre-IPO deals. We've almost broken even in the Wealth Management business, and we're targeting a steady growth with a focus on increasing recurring AUM. Expect ongoing enhancements as we expand our talent pool and capture market opportunities."
Q2: "Can you highlight plans for launching new AIF or private equity-based funds to bolster recurring AUM growth?"
A2: "We are actively pursuing a pre-IPO fund due to our leading position in ECM. Regulatory approvals are pending, and we're also eyeing a PE fund and a real estate credit fund soon. The upcoming pre-IPO fund launch will significantly add to our AUM, underpinned by our robust strategy and team capabilities."
Q3: "Could you summarize your recent asset rundown in the private markets and whether any remain toxic?"
A3: "All the assets currently are from the post-COVID era. We're seeing good recoveries, and I can confidently say that we don't have sticky assets remaining. The real estate loan book has reduced from INR 10,000 crores to under INR 2,000 crores, with no anticipated surprises in the recovery landscape."
Q4: "What are the expectations for credit costs and asset quality trends over the next few quarters?"
A4: "Our focus remains on continual balance sheet strengthening rather than mere repair. The credit portfolio, largely secured, enjoys 84% provision, ensuring a solid recovery trajectory. The goal is to transition towards cash flow-backed lending with improved standards of credit risk management."
Q5: "What insights can you provide regarding the profitability issues in the Asset Management sector?"
A5: "We are still in the buildup phase, increasing our workforce while venturing into larger premises. Although currently unprofitable, we expect to reach breakeven within the next couple of years as our AUM grows and new AIF strategies take off."
Q6: "In the Wealth Management business, what is the current impact of digital investments on profits?"
A6: "Currently, our reported profits from Wealth Management reflect losses from digital investments. Excluding these, profits would have exceeded INR 90 crores in the first half. We aim to reduce these losses and work towards breakeven by FY '27 as we recalibrate our strategy."
Q7: "Looking ahead, what is your projection for AUM in the Asset Management business?"
A7: "While it is tough to specify a target, I would be disheartened if our AUM does not double in the next 2-3 years. The integration of various strategies in our platform will significantly contribute to this growth."
Q8: "What is the timeline and aim for the IPO of our housing finance business?"
A8: "We are looking at an IPO for the housing finance division in FY '28 after completing 10 years of operational history, which will allow us to leverage our established performance."
These responses summarize the major themes from the Q&A session while maintaining the content's richness and relevance to investors.
| 1.6% |
| Vishal Kampani | 1.36% |
| VIKRAM SHANKAR PANDIT | 1.22% |
| THINK INDIA OPPORTUNITIES MASTER FUND LP | 1.21% |
| ROBECO CAPITAL GROWTH FUNDS - ROBECO QI EMERGING MARKETS ACTIVE EQUITIES | 1.19% |
| MOTILAL OSWAL (VARIOUS SCHEMES) | 1.03% |
| Amishi Akash Gambhir | 0.84% |
| JSB Securities Limited | 0.4% |
| JM Financial Trustee Company Private Limited | 0.17% |
| Shiv Vishal Kampani | 0.13% |
| Nimesh Kampani HUF (Nimesh Kampani - Karta) | 0.13% |
Distribution across major stakeholders
Distribution across major institutional holders
| 4.58 kCr |
| +5.40% |
| +38.30% |
| 41.12 |
| 25.81 |
| - |
| - |
| MOTILALOFS | Motilal Oswal Financial Services | 46.35 kCr | 7.93 kCr | -9.80% | +9.90% | 22.83 | 5.84 | - | - |
| IIFL | IIFL FINANCE | 21.45 kCr | 12.3 kCr | -24.10% | +39.40% | 16.73 | 1.74 | - | - |
| EDELWEISS | Edelweiss Financial Services | 10.16 kCr | 8.52 kCr | -6.10% | -7.80% | 16.83 | 1.19 | - | - |
| 5.6% |
| 20 |
| 19 |
| 17 |
| 16 |
| 16 |
| 15 |
| Fees and commission expenses | 7.4% | 88 | 82 | 91 | 88 | 80 | 87 |
| Impairment on financial instruments | -179.2% | -23.35 | -7.72 | -204.45 | 6.78 | 116 | 229 |
| Other expenses | 4.9% | 86 | 82 | 76 | 111 | 82 | 91 |
| Profit Before exceptional items and Tax | 22.7% | 422 | 344 | 593 | 311 | 287 | 154 |
| Exceptional items before tax | - | -21.29 | 0 | 0 | 0 | 0 | 0 |
| Total profit before tax | 16.3% | 400 | 344 | 593 | 311 | 287 | 154 |
| Current tax | 27.7% | 84 | 66 | 82 | 65 | 93 | 83 |
| Deferred tax | -50% | 12 | 23 | 53 | 11 | -13.7 | -72.75 |
| Tax expense | 6.8% | 95 | 89 | 135 | 76 | 79 | 9.81 |
| Total profit (loss) for period | 21.5% | 318 | 262 | 459 | 235 | 207 | 144 |
| Other comp. income net of taxes | -69.3% | 2.76 | 6.73 | -0.19 | 0.21 | 3.68 | -0.66 |
| Total Comprehensive Income | 19.4% | 321 | 269 | 459 | 235 | 211 | 144 |
| Reserve excluding revaluation reserves | - | - | - | - | - | - | - |
| Earnings Per Share, Basic | 24.7% | 3.27 | 2.82 | 4.75 | 2.19 | 2.19 | 2.43 |
| Earnings Per Share, Diluted | 24.7% | 3.27 | 2.82 | 4.74 | 2.19 | 2.18 | 2.43 |
| 97% |
| 200 |
| 102 |
| 153 |
| 59 |
| 28 |
| 47 |
| Total Expenses | 19.1% | 488 | 410 | 175 | 204 | 158 | 147 |
| Employee Expense | 39.9% | 257 | 184 | 103 | 116 | 84 | 67 |
| Finance costs | 33.6% | 7.01 | 5.5 | 6.13 | 6.76 | 7.24 | 7.81 |
| Depreciation and Amortization | 60% | 17 | 11 | 10 | 11 | 12 | 12 |
| Fees and commission expenses | 108% | 157 | 76 | 30 | 47 | 31 | 31 |
| Impairment on financial instruments | -101.4% | -0.14 | 85 | 1.82 | 0 | 4.75 | 2.32 |
| Other expenses | 4.2% | 51 | 49 | 24 | 23 | 19 | 27 |
| Profit Before exceptional items and Tax | 34% | 549 | 410 | 313 | 416 | 217 | 156 |
| Total profit before tax | 34% | 549 | 410 | 313 | 416 | 217 | 156 |
| Current tax | -41.9% | 51 | 87 | 39 | 78 | 42 | 32 |
| Deferred tax | -421.1% | -40.74 | 14 | 1.29 | 11 | -0.9 | -3.11 |
| Tax expense | -91% | 10 | 101 | 40 | 88 | 42 | 29 |
| Total profit (loss) for period | 74.1% | 539 | 310 | 273 | 328 | 175 | 127 |
| Other comp. income net of taxes | -3.2% | -1.28 | -1.21 | -0.13 | 0.08 | 0.16 | -0.29 |
| Total Comprehensive Income | 74.6% | 537 | 308 | 273 | 328 | 175 | 127 |
| Reserve excluding revaluation reserves | 8.8% | 4,366 | 4,014 | 3,721 | 3,641 | 3,408 | 2,489 |
| Earnings Per Share, Basic | 107.1% | 5.64 | 3.24 | 2.86 | 3.44 | 1.88 | 1.51 |
| Earnings Per Share, Diluted | 106.7% | 5.63 | 3.24 | 2.86 | 3.43 | 1.88 | 1.51 |
| 39 |
| 46 |
| - |
| 70 |
| 46 |
| 49 |
| Total non-financial assets | -4% | 215 | 224 | 0 | 242 | - | - |
| Total assets | 0.3% | 4,893 | 4,878 | - | 4,640 | 4,452 | 4,311 |
| Equity share capital | 0% | 96 | 96 | - | 96 | 96 | 96 |
| Total equity | 2.8% | 4,587 | 4,461 | - | 4,255 | 4,110 | 3,992 |
| Borrowings | -13.5% | 46 | 53 | - | 76 | 54 | 58 |
| Total financial liabilities | -32.4% | 139 | 205 | 0 | 248 | - | - |
| Provisions | 9.1% | 13 | 12 | - | 15 | 12 | 14 |
| Total non financial liabilities | -21.3% | 167 | 212 | 0 | 138 | - | - |
| Total liabilities | -26.5% | 306 | 416 | - | - | 343 | 319 |
| Total equity and liabilities | 0.3% | 4,893 | 4,878 | - | 4,640 | 4,452 | 4,311 |
| -49.5% |
| 47 |
| 92 |
| 66 |
| 0 |
| - |
| - |
| Income taxes paid (refund) | 6.8% | 79 | 74 | 42 | 74 | - | - |
| Net Cashflows From Operating Activities | -68.9% | 162 | 518 | -264.72 | 203 | - | - |
| Purchase of property, plant and equipment | 867.6% | 4.58 | 1.37 | 0.6 | 2.08 | - | - |
| Dividends received | 106.5% | 191 | 93 | 144 | 48 | - | - |
| Interest received | -10.3% | 0.04 | 0.13 | 1.87 | 12 | - | - |
| Other inflows/outflows of cash | -1888.2% | -14.2 | 1.85 | -0.07 | -0.92 | - | - |
| Net Cashflows From Investing Activities | 119.1% | 84 | -433.34 | 400 | -25.01 | - | - |
| Proceeds from issuing shares | -22.9% | 0.14 | 0.3 | 0.07 | 0.14 | - | - |
| Payments of lease liabilities | 58.3% | 20 | 13 | 13 | 13 | - | - |
| Dividends paid | 123.5% | 191 | 86 | 196 | 95 | - | - |
| Net Cashflows From Financing Activities | -111.7% | -210.55 | -98.92 | -208.32 | -108.05 | - | - |
| Net change in cash and cash eq. | 330% | 35 | -13.78 | -72.55 | 70 | - | - |
Analysis of JM Financial's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Wealth and Asset Management | 29.3% | 350.5 Cr |
| Private Markets | 27.4% | 327.2 Cr |
| Corporate Advisory and Capital Markets | 20.0% | 239 Cr |
| Treasury and others | 13.5% | 161.9 Cr |
| Affordable Home Loans | 9.8% | 117.7 Cr |
| Total | 1.2 kCr |