About
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 through Investment Bank; Mortgage Lending; Alternative & Distressed Credit; and Asset Management, Wealth Management & Securities Business (Platform AWS) segments. The Investment Bank segment manages capital markets transactions, as well as advises on mergers and acquisitions, and private equity syndication. This segment also provides institutional equities business and research, portfolio management, private equity funds, fixed income, syndication, and finance services. The Mortgage Lending segment offers finance against commercial and residential real estate to a range of corporate and non-corporate clients; 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. The 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. The company 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.
Key Metrics
as of Sep 2026Market Cap12,640 Cr
P/E12.00
Div Yield2.46 %
Book Value₹111.00
52w High₹196.00
52w Low₹112.00
Face Value₹1.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,201.00 | 949.00 | 999.00 | 1,031.00 | 1,111.00 | 1,004.00 | 1,106.00 | 1,191.00 | 1,077.00 | 1,261.00 | 1,236.00 | 1,197.00 | 1,067.00 |
| Expenses | 500.00 | 458.00 | 436.00 | 426.00 | 261.00 | 426.00 | 500.00 | 700.00 | 462.00 | 580.00 | 430.00 | 535.00 | 473.00 |
| Operating Profit | 700.00 | 491.00 | 563.00 | 605.00 | 850.00 | 578.00 | 607.00 | 491.00 | 615.00 | 681.00 | 806.00 | 663.00 | 594.00 |
| OPM % | 58.00 | 52.00 | 56.00 | 59.00 | 76.00 | 58.00 | 55.00 | 41.00 | 57.00 | 54.00 | 65.00 | 55.00 | 56.00 |
| Other Income | 24.00 | 20.00 | 105.00 | 13.00 | 10.00 | 23.00 | 14.00 | 21.00 | 17.00 | -831.00 | 25.00 | 17.00 | 14.00 |
| Depreciation | 22.00 | 22.00 | 20.00 | 19.00 | 17.00 | 16.00 | 16.00 | 15.00 | 16.00 | 14.00 | 14.00 | 13.00 | 12.00 |
| Interest | 247.00 | 246.00 | 248.00 | 254.00 | 251.00 | 274.00 | 318.00 | 343.00 | 370.00 | 407.00 | 400.00 | 388.00 | 366.00 |
| Profit before tax | 456.00 | 243.00 | 400.00 | 344.00 | 593.00 | 311.00 | 287.00 | 154.00 | 245.00 | -572.00 | 417.00 | 278.00 | 230.00 |
| Tax % | 19.00 | 34.00 | 24.00 | 26.00 | 23.00 | 25.00 | 28.00 | 6.00 | 24.00 | 18.00 | 23.00 | 26.00 | 24.00 |
| Net Profit | 369.00 | 162.00 | 318.00 | 262.00 | 459.00 | 235.00 | 207.00 | 144.00 | 187.00 | -674.00 | 322.00 | 206.00 | 177.00 |
| EPS in Rs | 3.05 | 1.73 | 3.27 | 2.82 | 4.75 | 2.19 | 2.19 | 2.43 | 1.79 | -2.39 | 2.91 | 2.04 | 1.74 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,223.00 | 4,410.00 | 4,787.00 | 3,292.00 | 3,724.00 | 3,211.00 | 3,446.00 | 3,494.00 | 3,062.00 | 2,359.00 | 1,685.00 | 1,342.00 |
| Expenses | 1,581.00 | 2,087.00 | 2,017.00 | 1,170.00 | 1,296.00 | 1,009.00 | 933.00 | 743.00 | 767.00 | 582.00 | 459.00 | 448.00 |
| Operating Profit | 2,641.00 | 2,323.00 | 2,770.00 | 2,122.00 | 2,429.00 | 2,202.00 | 2,513.00 | 2,751.00 | 2,295.00 | 1,777.00 | 1,225.00 | 895.00 |
| OPM % | 63.00 | 53.00 | 58.00 | 64.00 | 65.00 | 69.00 | 73.00 | 79.00 | 75.00 | 75.00 | 73.00 | 67.00 |
| Other Income | 17.00 | 43.00 | -802.00 | 51.00 | 39.00 | 15.00 | 8.00 | 6.00 | 35.00 | 0.00 | 0.00 | 61.00 |
| Interest | 999.00 | 1,305.00 | 1,562.00 | 1,179.00 | 1,082.00 | 1,111.00 | 1,386.00 | 1,446.00 | 1,139.00 | 782.00 | 512.00 | 420.00 |
| Depreciation | 78.00 | 64.00 | 53.00 | 42.00 | 38.00 | 40.00 | 41.00 | 27.00 | 26.00 | 23.00 | 20.00 | 18.00 |
| Profit before tax | 1,580.00 | 997.00 | 353.00 | 953.00 | 1,348.00 | 1,067.00 | 1,094.00 | 1,283.00 | 1,165.00 | 972.00 | 693.00 | 517.00 |
| Tax % | 26.00 | 23.00 | 92.00 | 26.00 | 26.00 | 24.00 | 29.00 | 35.00 | 33.00 | 34.00 | 32.00 | 30.00 |
| Net Profit | 1,201.00 | 774.00 | 31.00 | 709.00 | 992.00 | 808.00 | 778.00 | 837.00 | 785.00 | 649.00 | 526.00 | 379.00 |
| EPS in Rs | 12.57 | 8.59 | 4.29 | 6.26 | 8.10 | 6.19 | 6.48 | 6.81 | 7.17 | 5.92 | 5.08 | 4.22 |
| Dividend Payout % | 26.00 | 31.00 | 47.00 | 43.00 | 20.00 | 8.00 | 3.00 | 15.00 | 25.00 | 25.00 | 29.00 | 32.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 96.00 | 96.00 | 96.00 | 95.00 | 95.00 | 95.00 | 84.00 | 84.00 | 84.00 | 79.00 | 79.00 | 78.00 |
| Reserves | 10,562.00 | 9,632.00 | 8,395.00 | 8,041.00 | 7,591.00 | 6,905.00 | 5,555.00 | 5,048.00 | 4,471.00 | 3,240.00 | 2,831.00 | 2,465.00 |
| Borrowings | 11,635.00 | 11,507.00 | 16,228.00 | 15,939.00 | 13,498.00 | 12,405.00 | 11,756.00 | 13,991.00 | 14,988.00 | 9,444.00 | 6,672.00 | 4,723.00 |
| Other Liabilities | 4,045.00 | 3,112.00 | 4,874.00 | 5,137.00 | 4,477.00 | 3,973.00 | 3,351.00 | 3,517.00 | 2,664.00 | 3,782.00 | 1,480.00 | 1,239.00 |
| Total Liabilities | 26,337.00 | 24,347.00 | 29,592.00 | 29,213.00 | 25,661.00 | 23,378.00 | 20,746.00 | 22,640.00 | 22,206.00 | 16,545.00 | 11,061.00 | 8,505.00 |
| Fixed Assets | 625.00 | 579.00 | 572.00 | 505.00 | 414.00 | 423.00 | 450.00 | 424.00 | 427.00 | 474.00 | 444.00 | 445.00 |
| CWIP | 160.00 | 10.00 | 4.00 | 7.00 | 3.00 | 1.00 | 1.00 | 1.00 | 3.00 | 2.00 | 1.00 | 2.00 |
| Investments | 6,209.00 | 5,464.00 | 4,724.00 | 3,584.00 | 3,639.00 | 5,802.00 | 4,014.00 | 2,933.00 | 2,388.00 | 2,156.00 | 772.00 | 640.00 |
| Other Assets | 19,343.00 | 18,294.00 | 24,292.00 | 25,116.00 | 21,605.00 | 17,153.00 | 16,280.00 | 19,282.00 | 19,388.00 | 13,913.00 | 9,844.00 | 7,418.00 |
| Total Assets | 26,337.00 | 24,347.00 | 29,592.00 | 29,213.00 | 25,661.00 | 23,378.00 | 20,746.00 | 22,640.00 | 22,206.00 | 16,545.00 | 11,061.00 | 8,505.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 581.00 | 5,569.00 | 3,635.00 | -2,449.00 | -3,203.00 | 969.00 | 3,164.00 | 773.00 | -3,584.00 | -2,546.00 | -918.00 | -1,717.00 |
| Cash from Investing Activity | -532.00 | -2,475.00 | -2,090.00 | -443.00 | 2,616.00 | -2,249.00 | -901.00 | -148.00 | -708.00 | -326.00 | 264.00 | -281.00 |
| Cash from Financing Activity | -116.00 | -4,786.00 | 162.00 | 2,153.00 | 1,024.00 | 1,296.00 | -2,205.00 | -522.00 | 4,540.00 | 2,424.00 | 1,305.00 | 1,783.00 |
| Net Cash Flow | -68.00 | -1,692.00 | 1,708.00 | -739.00 | 437.00 | 16.00 | 58.00 | 103.00 | 247.00 | -448.00 | 651.00 | -215.00 |
| Free Cash Flow | 526.00 | 5,536.00 | 3,582.00 | -2,573.00 | -3,220.00 | 963.00 | 3,154.00 | 755.00 | -3,605.00 | -2,610.00 | -937.00 | -1,954.00 |
| CFO/OP % | 30.00 | 249.00 | 145.00 | -102.00 | -113.00 | 58.00 | 141.00 | 46.00 | -136.00 | -125.00 | -56.00 | -173.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 124.00 | 53.00 | 43.00 | 135.00 | 49.00 | 58.00 | 34.00 | 72.00 | 102.00 | 182.00 | 77.00 | 62.00 |
| Cash Conversion Cycle | 124.00 | 53.00 | 43.00 | 135.00 | 49.00 | 58.00 | 34.00 | 72.00 | 102.00 | 182.00 | 77.00 | 62.00 |
| Working Capital Days | 107.00 | 89.00 | 105.00 | 411.00 | 230.00 | 288.00 | 235.00 | -71.00 | -308.00 | -244.00 | -232.00 | -377.00 |
| ROCE % | 12.00 | 9.00 | 10.00 | 8.00 | 11.00 | 10.00 | 12.00 | 13.00 | 13.00 | 15.00 | 13.00 | 14.00 |
Corporate Actions
35 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 12 Jun 2026 | 12 Jun 2026 | — | 1.75 | |
| Dividend | 14 Nov 2025 | 14 Nov 2025 | — | 1.50 | |
| Dividend | 13 Jun 2025 | 13 Jun 2025 | — | 2.70 | |
| Dividend | 07 Jun 2024 | — | — | 2.00 | |
| Dividend | 19 May 2023 | — | — | 0.90 | |
| Dividend | 24 Nov 2022 | 25 Nov 2022 | — | 0.90 | |
| Dividend | 07 Jul 2022 | — | — | 1.15 | |
| Dividend | 17 Feb 2022 | 18 Feb 2022 | — | 0.50 | |
| Dividend | 28 May 2021 | — | — | 0.50 | |
| Dividend | 15 May 2020 | — | — | 0.20 | |
| Dividend | 10 May 2019 | — | — | 0.50 | |
| Dividend | 31 Jan 2019 | 02 Feb 2019 | — | 0.50 | |
| Dividend | 10 May 2018 | — | — | 1.10 | |
| Dividend | 31 Jan 2018 | 01 Feb 2018 | — | 0.70 | |
| Dividend | 11 May 2017 | — | — | 0.85 | |
| Dividend | 02 Feb 2017 | 03 Feb 2017 | — | 0.65 | |
| Dividend | 23 May 2016 | — | — | 0.85 | |
| Dividend | 11 Feb 2016 | 13 Feb 2016 | — | 0.60 | |
| Dividend | 08 Jun 2015 | — | — | 0.80 | |
| Dividend | 05 Feb 2015 | 07 Feb 2015 | — | 0.55 | |
| Dividend | 25 Jun 2014 | — | — | 0.55 | |
| Dividend | 07 Feb 2014 | 10 Feb 2014 | — | 0.45 | |
| Dividend | 22 Jul 2013 | — | — | 0.50 | |
| Other | 22 Jul 2013 | — | — | — | Annual General Meeting/Divdend Re 0.50 Per Share |
| Dividend | 15 Feb 2013 | 19 Feb 2013 | — | 0.40 | |
| Dividend | 02 Aug 2012 | — | — | 0.60 | |
| Dividend | 20 Jul 2011 | — | — | 0.60 | |
| Dividend | 20 Jul 2010 | — | — | 0.25 | |
| Dividend | 01 Sep 2009 | — | — | 0.20 | |
| Bonus | 08 Sep 2008 | 15 Sep 2008 | 3:2 | — | |
| Other | 08 Sep 2008 | 15 Sep 2008 | — | — | Fv Spl-Rs10tore1/Bon-3:2 |
| Dividend | 16 Jul 2008 | — | — | 25.00 | NSE/BSE dividend mismatch: NSE=0.5; BSE=25.0 |
| Dividend | 16 Jul 2008 | — | — | 0.50 | NSE/BSE dividend mismatch: NSE=0.5; BSE=25.0 |
| Dividend | 28 Aug 2007 | — | — | 5.00 | NSE/BSE dividend mismatch: NSE=0.5; BSE=5.0 |
| Dividend | 28 Aug 2007 | — | — | 0.50 | NSE/BSE dividend mismatch: NSE=0.5; BSE=5.0 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update28 Aug from crisil
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Rating update2 Apr from crisil
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Rating update31 Dec 2025 from icra
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Rating update4 Apr 2025 from crisil
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Rating update3 Jan 2025 from icra
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Rating update5 Jul 2024 from icra
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