JMFINANCIL

JM Financial Limited

JM Financial Limited (JMFINANCIL) financial statements and selected valuation metrics through 30 June 2026.

Financial Services›Financial Services›Finance›Holding Company

jmfl.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹121.38
Market cap
11,617 Cr
Stock P/E
11.2
P/B
1.09
Dividend yield
3.5%
ROE (FY26)
10.6%
ROCE (FY26)
11.4%
Operating margin (FY26)
59.4%
Debt / equity (FY26)
1.08

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

JM Financial is an Indian financial services group with businesses in investment banking and capital markets, wealth management, asset management, private credit and asset reconstruction, and affordable home loans.

Company snapshot

5thBy market cap

Ranked among 13 companies in Holding Company.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 38.8% of revenue

SegmentRevenue shareRevenuePBTAssets
Alternative & Distressed Credit
7.7%
86 Cr23 Cr2,968 Cr
Asset Management Wealth Management Securities Business
26.9%
297 Cr20 Cr5,120 Cr
Investment Bank
38.8%
429 Cr195 Cr6,324 Cr
Mortgage Lending
29.1%
322 Cr23 Cr10,254 Cr
Others
3.3%
37 Cr26 Cr1,540 Cr

Shares add up to 106% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Net margin of 29.4% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Net Interest Income244 Cr274 Cr259 Cr184 Cr189 Cr135 Cr116 Cr238 Cr135 Cr132 Cr147 Cr176 Cr
Other income17 Cr25 Cr15 Cr17 Cr21 Cr14 Cr23 Cr10 Cr13 Cr127 Cr20 Cr24 Cr
Net operating income261 Cr299 Cr275 Cr200 Cr210 Cr149 Cr139 Cr248 Cr148 Cr259 Cr167 Cr200 Cr
Employee cost236 Cr246 Cr120 Cr231 Cr292 Cr221 Cr220 Cr299 Cr271 Cr285 Cr200 Cr296 Cr
Other expenses172 Cr135 Cr113 Cr71 Cr91 Cr82 Cr111 Cr76 Cr82 Cr86 Cr121 Cr95 Cr
Provisions & contingencies————————————
Depreciation13 Cr14 Cr14 Cr16 Cr15 Cr16 Cr16 Cr17 Cr19 Cr20 Cr22 Cr22 Cr
Profit before tax278 Cr418 Cr-571 Cr246 Cr154 Cr287 Cr311 Cr594 Cr351 Cr414 Cr246 Cr455 Cr
Tax %26.0%22.9%-18.0%24.1%6.4%27.6%24.5%22.7%25.5%23.0%34.1%19.1%
Net profit206 Cr322 Cr-674 Cr187 Cr144 Cr207 Cr235 Cr459 Cr262 Cr318 Cr162 Cr369 Cr
EPS (₹)₹2.04₹2.91₹-2.39₹1.79₹2.43₹2.19₹2.19₹4.75₹2.82₹3.27₹1.73₹3.05

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Net Interest Income——919 Cr895 Cr798 Cr769 Cr757 Cr994 Cr623 Cr653 CrSign in free for the trailing twelve months
Other income200 Cr276 Cr37 Cr22 Cr29 Cr56 Cr78 Cr71 Cr75 Cr169 CrSign in free for the trailing twelve months
Net operating income200 Cr276 Cr955 Cr917 Cr827 Cr825 Cr835 Cr1,066 Cr699 Cr822 CrSign in free for the trailing twelve months
Employee cost306 Cr387 Cr422 Cr395 Cr441 Cr548 Cr622 Cr795 Cr963 Cr1,054 CrSign in free for the trailing twelve months
Other expenses276 Cr369 Cr287 Cr304 Cr312 Cr400 Cr452 Cr350 Cr356 Cr365 CrSign in free for the trailing twelve months
Provisions & contingencies——————————Sign in free for the trailing twelve months
Depreciation23 Cr26 Cr27 Cr41 Cr40 Cr38 Cr42 Cr53 Cr64 Cr78 CrSign in free for the trailing twelve months
Profit before tax972 Cr1,309 Cr1,283 Cr1,094 Cr1,069 Cr1,348 Cr953 Cr357 Cr998 Cr1,605 CrSign in free for the trailing twelve months
Tax %34.5%33.5%34.8%28.9%24.4%26.4%25.6%91.4%22.5%25.1%Sign in free for the trailing twelve months
Net profit649 Cr871 Cr837 Cr778 Cr808 Cr992 Cr709 Cr31 Cr774 Cr1,201 CrSign in free for the trailing twelve months
EPS (₹)₹5.93₹7.86₹6.82₹6.48₹6.34₹8.11₹6.26₹4.29₹8.59₹12.57Sign in free for the trailing twelve months
Dividend payout %————2.2%9.7%27.7%282.7%25.3%33.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital79 Cr84 Cr84 Cr84 Cr95 Cr95 Cr95 Cr96 Cr96 Cr96 Cr
Reserves3,240 Cr4,338 Cr5,048 Cr5,555 Cr6,905 Cr7,591 Cr8,041 Cr8,395 Cr9,632 Cr10,562 Cr
Borrowings9,443 Cr12,293 Cr13,991 Cr11,756 Cr12,369 Cr13,458 Cr15,875 Cr16,145 Cr11,419 Cr11,522 Cr
Other liabilities2,674 Cr3,475 Cr878 Cr855 Cr1,330 Cr1,731 Cr2,226 Cr2,563 Cr2,854 Cr3,657 Cr
Total liabilities16,545 Cr21,560 Cr22,635 Cr20,746 Cr23,375 Cr25,815 Cr29,370 Cr29,764 Cr24,504 Cr26,537 Cr
Fixed assets (net)373 Cr364 Cr359 Cr387 Cr362 Cr353 Cr440 Cr495 Cr503 Cr540 Cr
CWIP2 Cr3 Cr1 Cr0.69 Cr0.86 Cr3 Cr7 Cr4 Cr10 Cr160 Cr
Investments2,156 Cr3,050 Cr2,933 Cr4,014 Cr5,802 Cr3,639 Cr3,584 Cr4,724 Cr5,464 Cr6,209 Cr
Loans & advances——14,337 Cr11,900 Cr11,223 Cr15,072 Cr16,929 Cr15,063 Cr9,918 Cr9,832 Cr
Inventories——0 Cr0 Cr0 Cr0 Cr102 Cr143 Cr130 Cr128 Cr
Trade receivables1,179 Cr775 Cr685 Cr324 Cr499 Cr499 Cr1,215 Cr569 Cr646 Cr1,431 Cr
Cash & bank869 Cr1,497 Cr752 Cr810 Cr826 Cr1,263 Cr524 Cr2,232 Cr540 Cr472 Cr
Other assets11,966 Cr15,871 Cr3,568 Cr3,309 Cr4,662 Cr4,986 Cr6,569 Cr6,534 Cr7,293 Cr7,766 Cr
Total assets16,545 Cr21,560 Cr22,635 Cr20,746 Cr23,375 Cr25,815 Cr29,370 Cr29,764 Cr24,504 Cr26,537 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-2,546 Cr-2,004 Cr773 Cr3,164 Cr969 Cr-3,203 Cr-2,449 Cr3,635 Cr5,569 Cr581 Cr
Cash from investing-366 Cr-1,166 Cr-148 Cr-901 Cr-2,249 Cr2,616 Cr-451 Cr-2,090 Cr-2,475 Cr-532 Cr
Cash from financing2,424 Cr3,399 Cr-522 Cr-2,205 Cr1,296 Cr1,024 Cr2,161 Cr162 Cr-4,786 Cr-116 Cr
Net cash flow-488 Cr230 Cr103 Cr58 Cr16 Cr437 Cr-739 Cr1,708 Cr-1,692 Cr-68 Cr
Free cash flow (OCF − Capex)-2,610 Cr-2,026 Cr755 Cr3,154 Cr963 Cr-3,220 Cr-2,573 Cr3,581 Cr5,535 Cr517 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.6%13.6%12.5%12.5%9.9%10.1%7.9%7.1%10.6%11.4%
ROE %10.6%10.9%7.4%6.7%6.1%7.3%5.3%3.7%8.0%10.6%
Debtor days19995703457491354454127
Inventory days——000011111111
Days payable13944————————
Cash conversion cycle6051703457491475565139
Debt / equity2.842.782.732.081.771.751.951.901.171.08
Current ratio1.161.46————————
Net debt / EBITDA5.444.904.874.385.275.067.335.074.754.40