JM Financial Limited
₹107.85-₹6.20 (-5.4%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹12,963 Cr
- P/E
- 22.3x
- EV / EBITDA
- 30.1x
- Revenue
- ₹1,035 Cr
- Net margin
- 37.8%
- ROCE
- 11.7%
Price chart
Technical chartScreen technicals →-35.5% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -16.4%
- 3M
- -11.1%
- 6M
- -22.5%
- 1Y
- -35.5%
- 5Y
- +27.4%
52-week range
Day change -₹6.20 (-5.4%) from ₹114 to ₹108 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in JMFINANCIL, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 22.3%
Concerns0
Rule-based from financial data. Not advice.
About the company
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.
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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.
- Sector
- Financial Services
- Shares outstanding
- 96.0 Cr shares
- ISIN
- INE780C01023
- BSE code
- 523405
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹12,963 Cr
- P/E
- 22.3x
- P/B
- 2.8x
- EV / EBITDA
- 30.1x
- EV / Sales
- 15.7x
- P/S
- 15.8x
- Earnings yield
- 4.5%
- 52-week high
- ₹173.60
- 52-week low
- ₹106.15
Profitability
- Operating margin
- 52.0%
- Net margin
- 37.8%
- EBITDA margin
- 52.1%
- ROE
- 12.1%
- ROCE
- 11.7%
- ROA
- 7.0%
- Dividend payout
- 62.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 0.2%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,035 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 26.2%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 22.3%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹427 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 36.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 73.9%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.5%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹518 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -284.3%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹35.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 6.9%
Solvency and efficiency
- Current ratio
- 15.24
- Debt / Assets
- 0.01
- Debt / EBITDA
- 0.13
- Financial leverage
- 1.08
- CFO / Net profit
- 1.67
- Cash / Market cap
- 5.8%
- Cash per share
- ₹7.78
- Asset turnover
- 0.18
- Fixed asset turnover
- 17.08
- Capital intensity
- 0.06
- Debtor days
- 35 days
- Cash conversion cycle
- 35 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹52 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹465 Cr |
| Sales | Operating profit | ₹570 Cr |
| Operating profit | Interest | ₹7 Cr |
| Operating profit | Depreciation | ₹17 Cr |
| Operating profit | Profit before tax | ₹546 Cr |
| Other income | Profit before tax | ₹2 Cr |
| Profit before tax | Tax and other | ₹10 Cr |
| Profit before tax | Net profit | ₹539 Cr |
Revenue and net profit
Revenue grew 26.2% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹373 Cr | ₹175 Cr |
| FY2022 | ₹613 Cr | ₹328 Cr |
| FY2023 | ₹552 Cr | ₹256 Cr |
| FY2024 | ₹820 Cr | ₹310 Cr |
| FY2025 | ₹1,035 Cr | ₹539 Cr |
Cash flows
FY2025: ₹162 Cr from operations, ₹246 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | -₹352 Cr | -₹734 Cr |
| FY2022 | ₹203 Cr | ₹178 Cr |
| FY2023 | -₹281 Cr | ₹117 Cr |
| FY2024 | ₹518 Cr | ₹85 Cr |
| FY2025 | ₹162 Cr | ₹246 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,035 Cr+26.2%1Y
- Net profit
- ₹539 Cr+73.9%1Y
- Cash from operations
- ₹162 Cr
- Free cash flow
- ₹246 Cr+189.4%1Y
- Revenue CAGR, 5Y
- 22.3%
- EBITDA CAGR, 5Y
- 19.3%
- Net profit CAGR, 5Y
- 19.5%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,035 Cr | ₹570 Cr | — | ₹539 Cr | ₹162 Cr | ₹246 Cr | 12.1% | +26.2% | +73.9% |
Monthly returns
Month-by-month returns of JMFINANCIL across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹4,878 Cr |
| Equity capital | ₹96 Cr |
| Reserves | ₹4,366 Cr |
| Borrowings | ₹53 Cr |
| Other liabilities | ₹363 Cr |
| Assets | ₹4,878 Cr |
| Fixed assets | ₹47 Cr |
| Capital work in progress | ₹0 Cr |
| Investments | ₹3,962 Cr |
| Other assets | ₹869 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
JMFINANCIL trades at 22.3x earnings against a peer median of 26.9x (a 17% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| JM Financial LimitedJMFINANCILthis companyP/E ↓ discount | ₹12,963 Cr | 22.3x | 2.8x | 12.1% | 30.1x |
| NIVA BUPA HEALTH INSURANCE COMPANY LIMITEDNIVABUPA | ₹14,417 Cr | 156.0x | 3.8x | 7.0% | 130.9x |
| UTI Asset Management Company LimitedUTIAMC | ₹13,871 Cr | 21.4x | 3.9x | 17.3% | 17.0x |
| Aptus Value Housing Finance India LimitedAPTUS | ₹13,728 Cr | 20.6x | 3.4x | 15.2% | 17.2x |
| Canara HSBC Life Insurance Company LimitedCANHLIFE | ₹13,445 Cr | 111.0x | — | 7.7% | 89.7x |
| Indian Energy Exchange LimitedIEX | ₹12,598 Cr | 28.0x | 10.4x | 37.8% | 26.1x |
| Can Fin Homes Ltd.CANFINHOME | ₹11,907 Cr | 12.9x | 2.2x | 16.9% | — |
| Sammaan Capital LimitedSAMMAANCAP | ₹11,756 Cr | 10.2x | 0.5x | 4.1% | — |
| IIFL CAPITAL SERVICES LIMITEDIIFLCAPS | ₹11,514 Cr | 23.7x | 4.6x | 27.2% | 11.8x |
| Peer median | — | 26.9x | 2.8x | 12.3% | 33.9x |
Year-to-date ROI
JMFINANCIL since 1 January, against earlier years.
Historical volatility
JMFINANCIL's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 63.0% |
| FY2022 | 70.0% |
| FY2023 | 56.0% |
| FY2024 | 52.0% |
| FY2025 | 55.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,035 Cr |
| Costs | |
| Interest | ₹7 Cr |
| Expenses | ₹465 Cr |
| Operating profitOperating Profit | ₹570 Cr |
| Other income and charges | |
| Profit before tax | ₹549 Cr |
| Tax | |
| Net profitNet Profit | ₹539 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹4,878 Cr |
| Equity capitalEquity Capital | ₹96 Cr |
| Reserves | ₹4,366 Cr |
| Borrowings | ₹53 Cr |
| Other liabilitiesOther Liabilities | ₹363 Cr |
| AssetsTotal Assets | ₹4,878 Cr |
| Fixed assetsFixed Assets | ₹47 Cr |
| Capital work in progressCWIP | ₹0 Cr |
| Investments | ₹3,962 Cr |
| Other assetsOther Assets | ₹869 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹162 Cr |
| Investing cash flowCash from Investing Activity | ₹84 Cr |
| Financing cash flowCash from Financing Activity | -₹211 Cr |
| Change in cashNet Cash Flow | ₹35 Cr |
Learn while you research
Academy chapters picked for JM Financial Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Growth Investing26% revenue growth is in the top tier, learn how to value growth.7 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Sector AnalysisBanks & financials are uniquely sensitive to rates and credit cycles.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read