MarketFriction

JM Financial Ltd

NSE JMFINANCIL · BSE 523405 · Holding Company
₹123.40 -4.36%
NSE close2026-10-01
52 week range112.00 - 182.50
Market cap₹12,037 Cr.
P/E11.4
Nifty 500Smallcap 250 Price band 20% Delivery 44.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1971,2361,2611,0771,1911,1061,0041,1111,0319999491,201
Expenses535430580462700500426261426436458500
Operating Profit663806681615491607578850605563491700
OPM %55%65%54%57%41%55%58%76%59%56%52%58%
Other Income1725-8311721142310131052024
Interest388400407370343318274251254248246247
Depreciation131414161516161719202222
Profit before tax278417-572245154287311593344400243456
Tax %26%23%18%24%6%28%25%23%26%24%34%19%
Net Profit206322-674187144207235459262318162369
EPS in Rs2.042.91-2.391.792.432.192.194.752.823.271.733.05
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,6852,3593,0623,4943,4463,2113,7243,2924,7874,4104,2234,180
Expenses4595827677439331,0091,2961,1702,0172,0871,5811,821
Operating Profit1,2251,7772,2952,7512,5132,2022,4292,1222,7702,3232,6412,360
OPM %73%75%75%79%73%69%65%64%58%53%63%56%
Other Income-0-03568153951-8024317162
Interest5127821,1391,4461,3861,1111,0821,1791,5621,305999995
Depreciation202326274140384253647884
Profit before tax6939721,1651,2831,0941,0671,3489533539971,5801,443
Tax %32%34%33%35%29%24%26%26%92%23%26%
Net Profit526649785837778808992709317741,2011,111
EPS in Rs5.085.927.176.816.486.198.106.264.298.5912.5710.87
Dividend Payout %29%25%25%15%3%8%20%43%47%31%26%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%6%9%-5%
Compounded Profit Growth12%16%27%-4%
Stock Price CAGR7%6%13%-21%
Return on Equity10%9%9%12%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital787979848484959595969696
Reserves2,4652,8313,2404,4715,0485,5556,9057,5918,0418,3959,63210,562
Borrowings4,7236,6729,44414,98813,99111,75612,40513,49815,93916,22811,50711,635
Other Liabilities1,2391,4803,7822,6643,5173,3513,9734,4775,1374,8743,1124,045
Total Liabilities8,50511,06116,54522,20622,64020,74623,37825,66129,21329,59224,34726,337
Fixed Assets445444474427424450423414505572579625
CWIP212311137410160
Investments6407722,1562,3882,9334,0145,8023,6393,5844,7245,4646,209
Other Assets7,4189,84413,91319,38819,28216,28017,15321,60525,11624,29218,29419,343
Total Assets8,50511,06116,54522,20622,64020,74623,37825,66129,21329,59224,34726,337
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-1,717-918-2,546-3,5847733,164969-3,203-2,4493,6355,569581
Cash from Investing Activity-281264-326-708-148-901-2,2492,616-443-2,090-2,475-532
Cash from Financing Activity1,7831,3052,4244,540-522-2,2051,2961,0242,153162-4,786-116
Net Cash Flow-215651-4482471035816437-7391,708-1,692-68
Free Cash Flow-1,954-937-2,610-3,6057553,154963-3,220-2,5733,5825,536526
CFO/OP-173%-56%-125%-136%46%141%58%-113%-102%145%249%30%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days6277182102723458491354353124
Inventory Days
Days Payable
Cash Conversion Cycle6277182102723458491354353124
Working Capital Days-377-232-244-308-7123528823041110589107
ROCE %14%13%15%13%13%12%10%11%8%10%9%12%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters56.47%56.44%56.44%56.43%56.43%56.43%56.50%56.51%56.61%56.90%57.07%57.03%
FIIs18.82%17.92%18.19%16.83%15.31%17.02%17.48%17.69%18.38%17.71%17.16%16.95%
DIIs8.06%8.46%8.46%8.63%8.57%7.20%7.07%6.53%5.61%5.76%5.88%5.50%
Public16.66%17.17%16.91%18.11%19.70%19.36%18.94%19.27%19.42%19.64%19.89%20.54%
No. of Shareholders1,19,3011,35,1031,58,4461,63,9441,62,2101,89,5961,87,1631,73,2901,77,1601,76,5561,72,8021,75,511

Fundamentals

Market Cap₹ 12,037 Cr.
Current Price₹ 126
Stock P/E11.4
Book Value₹ 111
ROCE11.6 %
ROE11.9 %
Dividend Yield2.58 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-5%
Compounded Profit Growth (TTM)-4%
Consolidated figures.
Valuation
Market capRs 11,802 Cr
Enterprise valueRs 18,568 Cr
P/E (TTM)11.35x
Price to book1.11x
Price to sales2.82x
EV / EBITDA7.36x
EV / EBIT7.62x
EV / sales4.44x
Price to cash flow20.32x
Earnings yield8.81%
Dividend yield2.63%
P/E, 3-year average12.55x
P/B, 3-year average0.93x
P/E, 5-year average11.10x
P/B, 5-year average0.87x
Profitability
Operating margin (excl. other income)62.55%
Operating margin (incl. other income)62.95%
EBITDA margin60.33%
Pre-tax margin34.53%
Net profit margin24.88%
Net margin, latest quarter24.32%
ROE11.79%
ROCE11.85%
ROA4.74%
ROE, 3-year average8.58%
ROCE, 3-year average9.91%
ROA, 3-year average3.06%
ROE, 5-year average8.76%
ROCE, 5-year average10.22%
ROA, 5-year average2.90%
ROIC (approx.)10.42%
Tax rate25.53%
Other income / net worth0.16%
Growth
Sales growth (latest year)-4.25%
Profit growth (latest year)46.35%
Sales CAGR, 3 years8.65%
Sales CAGR, 5 years5.63%
Profit CAGR, 3 years26.25%
Profit CAGR, 5 years15.29%
Sales growth QoQ26.49%
Profit growth QoQ76.54%
Sales growth YoY (latest quarter)8.03%
Profit growth YoY (latest quarter)-35.67%
Per share
EPS (TTM)Rs 10.88
EPS (latest year)Rs 12.57
EPS (latest quarter)Rs 3.05
EPS, 3-year averageRs 8.48
EPS, 5-year averageRs 7.96
Book value per shareRs 111.44
Sales per shareRs 43.71
Cash flow per shareRs 6.07
Free cash flow per shareRs 5.50
Dividend per share (latest year)Rs 3.25
Dividend per share, 3-year averageRs 2.65
Dividend per share, 5-year averageRs 2.46
Dividends
Dividend payout25.86%
Dividend payout, 3-year average34.64%
Dividend payout, 5-year average33.49%
Efficiency
Asset turnover0.16x
Fixed asset turnover6.75x
Inventory turnover3.49x
Inventory days105 days
Debtor days124 days
Debtors turnover2.95x
Cash conversion cycle124 days
Working capital days107 days
Leverage
Total debtRs 11,635 Cr
Cash and bankRs 4,868 Cr
Net debtRs 6,767 Cr
Debt to equity1.09x
Net debt / EBITDA2.68x
Interest coverage2.45x
Owners' fund to total sources40.47%
Debt to assets44.18%
Cash flow
Cash from Operating Activity (latest year)Rs 581 Cr
Cash from Investing Activity (latest year)Rs -532 Cr
Cash from Financing Activity (latest year)Rs -116 Cr
Net Cash Flow (latest year)Rs -68 Cr
Free cash flow (latest year)Rs 526 Cr
FCFE (approx.: FCF + change in debt)Rs 653 Cr
Cash from ops / profit, 5 years1.11x
Sales to cash flow7.27x
Statement figures
Net sales (TTM)Rs 4,180 Cr
Net sales (latest year)Rs 4,223 Cr
Sales (latest quarter)Rs 1,201 Cr
Operating profit excl. other income (latest year)Rs 2,641 Cr
Operating profit (latest quarter)Rs 700 Cr
Other income (TTM)Rs 162 Cr
EBITDA (TTM)Rs 2,522 Cr
PBDT (TTM)Rs 1,527 Cr
Profit before tax (TTM)Rs 1,443 Cr
Tax (latest year)Rs 404 Cr
Net profit (TTM)Rs 1,040 Cr
Net profit (latest year)Rs 1,202 Cr
Net profit (latest quarter)Rs 292 Cr
Depreciation (TTM)Rs 84 Cr
Depreciation (latest quarter)Rs 22 Cr
Interest (TTM)Rs 995 Cr
Cost of goods sold (latest year)Rs 445 Cr
Total expenditure (latest year)Rs 1,581 Cr
Total income (latest year)Rs 4,239 Cr
Share capitalRs 96 Cr
ReservesRs 10,562 Cr
Shareholders' fundsRs 10,657 Cr
Total assetsRs 26,337 Cr
Net blockRs 625 Cr
Capital work in progressRs 160 Cr
InvestmentsRs 6,209 Cr
ReceivablesRs 1,431 Cr
InventoryRs 128 Cr
Other liabilitiesRs 4,045 Cr
Shares outstanding (crore)95.64
Ownership
Promoter holding57.03% (+0.52 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 11.3 is at the 23th percentile of its own 9.4-year range (median 14.0, low 7.4, high 35.1).
P/B 1.11 is at the 29th percentile (median 1.31).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodJMFINANCILNifty 50Difference
1 week-2.9%-2.8% -0.1 pts
1 month-3.8%-6.8% +3.0 pts
3 months-5.6%-7.6% +2.1 pts
6 months+8.6%+0.4% +8.2 pts
1 year-25.4%-9.9% -15.5 pts
2 years-3.5%-13.6% +10.0 pts
3 years+42.9%+14.2% +28.7 pts
5 years+34.1%+27.9% +6.2 pts
40 mutual fund schemes hold about ₹554 Cr. Over three months 32 bought more and 5 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Quant Small Cap Fund0.60%214 +2%
Motilal Oswal Small Cap Fund1.60%130 +11%
ICICI Pru Infrastructure Fund0.96%82 -1%
ICICI Pru Dividend Yield Fund1.05%70 +9%
Motilal Oswal Innovation Opportunities Fund2.51%18 -10%
JioBlackRock Flexi Cap Fund0.49%16 +47%
Nippon India Nifty Smallcap 250 Index Fund0.22%8 +7%
SBI Nifty Smallcap 250 Index Fund0.22%4 +7%
Motilal Oswal Nifty Smallcap 250 Index Fund0.22%3 +7%
ICICI Pru Nifty Smallcap 250 Index Fund0.22%2 +7%
HDFC NIFTY Smallcap 250 Index Fund0.22%2 +7%
Nippon India Nifty 500 Equal Weight Index Fund0.21%1 +12%
JioBlackRock Nifty Smallcap 250 Index Fund0.22%1 +7%
Motilal Oswal Nifty 500 Index Fund0.03%1 +10%
Edelweiss Nifty Smallcap 250 Index Fund0.22%1 +7%
Groww Nifty Smallcap 250 Index Fund0.22%0 +7%
HDFC Nifty500 Multicap 50:25:25 Index Fund0.06%0 +8%
Bandhan Nifty Smallcap 250 Index Fund0.22%0 +7%
Kotak Nifty Smallcap 250 Index Fund0.22%0 +7%
SBI Nifty 500 Index Fund0.03%0 +10%
Taurus Banking & Fin Serv Fund1.61%0 +17%
AlphaGrep Flexi Cap Fund0.36%0 +100%
Groww Nifty Total Market Index Fund0.02%0 +6%
Axis Nifty 500 Index Fund0.03%0 +10%
HDFC BSE 500 Index Fund0.03%0 +6%

Red flags

F-score 6 of 8
explainReceivables outrunning sales Receivables grew 121% vs sales -4% in 2026
lookRegulator order or action Regulator order or action 2025-11-15: JM Financial Limited has informed the Exchange that in reference to our letter dated February 20, 2025, wherein we had intimated about recei
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹1,201 Cr +8.1% vs Jun 2025. Net profit ₹369 Cr -19.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-12Dividend - Rs 1.75 Per Share
2025-11-14Interim Dividend - Rs 1.50 Per Share
2025-06-13Dividend - Rs 2.70 Per Share
2024-06-07Dividend - Rs 2 Per Share
2023-05-19Dividend - Re 0.90 Per Share
2022-11-24Interim Dividend - Re 0.90 Per Share
2022-07-07Dividend - Rs 1.15 Per Share
2022-02-17Interim Dividend - Rs 0.50 Per Share
2021-05-28 Annual General Meeting/Dividend - Rs 0.50 Per Share
2020-05-15 Dividend - Rs 0.20 Per Share
2019-05-10 Annual General Meeting/Dividend - Re 0.50 Per Share
2019-01-31 Interim Dividend - Re 0.50 Per Share
2018-05-10 Annual General Meeting / Dividend- Rs 1.10 Per Share
2018-01-31 Interim Dividend - Re 0.70 Per Share
2017-05-11 Annual General Meeting/Dividend - Re 0.85 Per Share
2017-02-02 Interim Dividend Rs 0.65/- Per Share
2016-05-23 Dividend - Re 0.85/- Per Share
2016-02-11 Interim Dividend Re 0.60/- Per Share (Purpose Revised)
2015-06-08Final Dividend - Re 0.80/- Per Share
2015-02-05Interim Dividend - Re 0.55/- Per Share
2014-06-25Final Dividend - Re 0.55/- Per Share
2014-02-07Interim Dividend - Rs 0.45/- Per Share
2013-07-22Annual General Meeting/Divdend Re 0.50 Per Share
2013-02-15Interim Dividend Re 0.40 Per Share
2012-08-02Dividend - Rs. 0.60 Per Share
2011-07-20Dividend-Re.0.60 Per Share
2010-07-20Final Dividend Re.0.25 Per Share And Special Dividend Re.0.25 Per Share
2009-09-01Agm/Div-Re.0.20 Per Share
2008-09-08Fv Spl-Rs10tore1/Bon-3:20.1000
2008-07-16Agm/Div-50%+Spl Div-200%
2007-08-28Dividend-50%
DateTypeWhat it says
2026-09-28General UpdatesThe Company has received an intimation today from JM Financial Credit Solutions Limited (the JMFCSL ), a wholly owned subsidiary of the Company that ...
2026-09-25AllotmentAllotment of 45000 securities pursuant to ESOP/ESPS at its meeting held on September 25, 2026
2026-09-10General UpdatesDisclosure Under Regulation 30 of the SEBI Listing Regulations
2026-09-03General UpdatesThe ESG Rating provided by NSE Sustainability Ratings & Analytics Limited
2026-08-31Credit RatingCredit Rating
2026-08-25General UpdatesThe ESG Rating provided by Crisil ESG Ratings & Analytics Limited
2026-08-20General UpdatesThe ESG Rating provided by ESG Risk Assessments & Insights Limited
2026-08-10Concall / analyst meetTranscript of the earnings conference call held on Tuesday, August 4, 2026.
2026-08-04Concall / analyst meetLink of Recording
2026-08-04Shareholder meetingVoting results.
2026-08-04Shareholder meetingProceedings of Annual General Meeting held on August 03, 2026
2026-08-03Investor PresentationInvestor Presentation
2026-08-03Press ReleaseA press release dated August 03, 2026, titled "Consolidated Net Revenue of Rs. 883 crores for Q1FY27, YoY increase of 13%; Pre-provision operating pro...
2026-08-03Board meeting outcomeJM Financial Limited has submitted to the Exchange the Outcome of Board meeting held on August 3, 2026.
2026-07-29Concall / analyst meetSchedule of meet
2026-07-23ResignationResignation of Director/KMP/SMP
2026-07-23ResignationMr. Chirag Negandhi has ceased to be a Senior Management Person of the Company, with effect from the close of business hours on July 23, 2026, consequ...
2026-07-10General UpdatesLetter to Members providing weblink and QR code of Annual Report for the FY 2025-26 and Notice of the 41st Annual General Meeting.
2026-07-10General UpdatesThe Business Responsibility and Sustainability Report of the Company for the financial year 2025-26, which also forms part of the Companys Forty First...
2026-07-10Shareholder meetingNotice of Annual General Meeting to be held on August 03, 2026
2026-06-23AllotmentAllotment of 493742 securities pursuant to ESOP/ESPS at its meeting held on Jun 23, 2026
2026-06-04Concall / analyst meetTranscript
2026-06-01Concall / analyst meetLink of audio recording of earnings conference call held today i.e. June 1, 2026.
2026-05-29Investor PresentationInvestor Presentation
2026-05-29General UpdatesThe Forty-first (41st) Annual General Meeting of the Company is scheduled to be held on Monday, August 3, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-06-29NCLTJM Financial Asset Reconstruction Company Ltd Vs Samay Electronics Pvt Ltd
2021-05-21NCLATJM Financial Asset Reconstruction Company Ltd Acting in its capacity as Trustee of JMFARC Jord SUUTI Trust VS Jord Engineers India Ltd
2021-05-11NCLATLalit Kumar Kesarimal Jain VS JM Financial Trustee Company Pvt Ltd & Ors
2021-05-11NCLATLalit Kumar Kesarimal Jain VS JM Financial Trustee Company Pvt Ltd & Ors
2021-05-05NCLATHowrah Mills Company Ltd VS JM Financial Asset Reconstruction Company Ltd
2021-04-28NCLTJM Financial Trustee Company Pvt.Ltd. Vs Kumar Urban Development Pvt.Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of JM Financial Ltd?

JM Financial Ltd (JMFINANCIL) has a market capitalisation of Rs 12,037 Cr. at the 2026-10-01 close.

What is the P/E ratio of JM Financial Ltd?

JM Financial Ltd trades at a P/E of 11.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were JM Financial Ltd's latest quarterly results?

In the Jun 2026 quarter, JM Financial Ltd sales was Rs 1,201 Cr (+8.1% vs Jun 2025) and net profit was Rs 369 Cr.

What is the 52-week high and low of JM Financial Ltd?

The 52-week high is Rs 182.50 and the 52-week low is Rs 112.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03