JM Financial Ltd

JM Financial Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

JM Financial Ltd

₹ 87.8 -2.98%
12 Mar 2:16 p.m.
jmfl.com BSE: 523405 NSE: JMFINANCIL
About

JM Financial Ltd is an integrated and diversified financial services group. Its primary businesses include mortgage lending, distressed credit, asset management. It is also engaged in investment banking and the management of private equity funds. [1]

Key Points

Business Segments
1) Investment Bank (39% in H1 FY25 vs 33% in FY22): [1] [2] The company manages capital markets transactions, advises on mergers & acquisitions, and private equity syndication. It also includes institutional equities business and research, private wealth management, PMS, private equity funds, fixed income, etc. [3]

In FY24, the company ranked No. 1 in IPO and QIP with 47% and 38% market share, respectively, in terms of funds raised. It acted on some of the largest marquee transactions, with an 80% market share in the top 10 IPOs by size and a 60% market share in the top 5 QIPs by size. [4] In Q2 FY25, the company participated in deals like BRLM to IPO of Rs. 6,560 Cr for Bajaj HFC, QIP of Rs. 8,500 Cr for Vedanta, Block Deal of Rs. 4,554 Cr for Nexus Select Trust, etc. The segment revenue grew by 55% between FY22 and FY24. [3]

Website BSE NSE
  • Market Cap ₹ 8,394 Cr.
  • Current Price ₹ 87.8
  • High / Low ₹ 169 / 69.0
  • Stock P/E 19.5
  • Book Value ₹ 44.5
  • Dividend Yield 2.27 %
  • ROCE 10.2 %
  • ROE 7.74 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 22.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 58.9%
  • Company's median sales growth is 20.5% of last 10 years
  • Company's working capital requirements have reduced from 61.6 days to 44.4 days

Cons

  • Company has a low return on equity of 7.82% over last 3 years.
  • Earnings include an other income of Rs.197 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

Part of BSE 500 Nifty 500 Nifty MidSmallcap 400 BSE Diversified Financials Revenue Growth Index (I BSE SmallCap

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
154 98 129 66 108 84 142 167 218 191 139 237 209
57 27 70 31 62 63 78 100 98 121 90 159 118
Operating Profit 97 71 59 35 46 21 64 68 120 70 49 79 91
OPM % 63% 73% 45% 53% 43% 25% 45% 40% 55% 36% 35% 33% 44%
2 5 2 62 91 2 3 98 2 2 2 192 2
Interest 2 2 2 2 1 1 2 1 1 1 2 2 2
Depreciation 2 2 3 2 3 3 3 3 3 3 4 4 4
Profit before tax 95 72 56 92 133 19 63 162 118 67 45 265 87
Tax % 24% 25% 23% 9% 9% 39% 21% 12% 24% 59% 24% -13% 19%
72 54 43 84 121 12 50 142 90 27 35 299 70
EPS in Rs 0.75 0.56 0.45 0.88 1.26 0.12 0.52 1.49 0.94 0.29 0.36 3.13 0.74
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
56 86 104 157 162 425 270 300 373 613 552 819 776
7 12 16 18 16 157 133 127 138 186 242 394 488
Operating Profit 49 74 88 139 146 268 136 174 234 427 310 425 289
OPM % 87% 86% 85% 88% 90% 63% 51% 58% 63% 70% 56% 52% 37%
0 1 1 0 1 1 1 3 2 6 3 1 197
Interest 0 0 8 27 40 35 20 8 7 7 6 6 7
Depreciation 0 0 0 0 1 2 2 12 12 11 10 11 15
Profit before tax 49 75 80 112 107 233 116 156 217 416 297 410 464
Tax % 8% 5% 3% -0% 0% 18% 4% 19% 19% 21% 14% 25%
45 71 78 112 107 192 111 127 175 328 256 310 432
EPS in Rs 0.60 0.94 1.00 1.42 1.34 2.29 1.33 1.51 1.84 3.44 2.69 3.24 4.52
Dividend Payout % 151% 106% 135% 102% 112% 79% 75% 13% 27% 48% 67% 62%
Compounded Sales Growth
10 Years: 25%
5 Years: 25%
3 Years: 30%
TTM: 27%
Compounded Profit Growth
10 Years: 16%
5 Years: 23%
3 Years: 21%
TTM: 47%
Stock Price CAGR
10 Years: 6%
5 Years: 0%
3 Years: 10%
1 Year: 13%
Return on Equity
10 Years: 7%
5 Years: 7%
3 Years: 8%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 75 76 78 79 79 84 84 84 95 95 95 96 96
Reserves 1,544 1,554 1,565 1,576 1,646 2,407 2,398 2,489 3,408 3,641 3,792 4,014 4,159
0 0 122 426 207 1 1 1 72 66 61 54 76
153 161 183 191 121 187 174 269 216 234 216 289 309
Total Liabilities 1,773 1,791 1,949 2,272 2,053 2,679 2,657 2,843 3,790 4,037 4,164 4,452 4,640
1 2 2 3 2 6 5 77 69 61 56 48 72
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 1,470 1,313 1,662 1,757 1,769 2,424 2,389 2,528 3,021 3,251 3,098 3,657 3,806
301 476 285 512 282 249 263 238 700 725 1,009 747 762
Total Assets 1,773 1,791 1,949 2,272 2,053 2,679 2,657 2,843 3,790 4,037 4,164 4,452 4,640

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
5 -85 19 -221 257 179 -37 151 -352 203 -281 518
70 240 -275 16 101 -472 152 -88 -382 -25 398 -433
-75 -53 72 182 -360 309 -139 -56 729 -108 -208 -99
Net Cash Flow 0 102 -184 -23 -1 15 -24 8 -5 70 -91 -14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 0 0 0 0 21 14 27 49 17 22 35
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 21 14 27 49 17 22 35
Working Capital Days -187 191 49 587 246 120 221 84 136 57 83 44
ROCE % 3% 5% 5% 7% 7% 12% 5% 6% 7% 11% 8% 10%

Shareholding Pattern

Numbers in percentages

3 Recently
Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
55.42% 55.41% 56.02% 56.02% 56.49% 56.48% 56.47% 56.44% 56.44% 56.43% 56.43% 56.43%
21.83% 21.13% 22.12% 22.14% 21.24% 20.72% 18.82% 17.92% 18.19% 16.83% 15.31% 17.02%
8.78% 8.79% 8.30% 7.35% 7.47% 7.61% 8.06% 8.46% 8.46% 8.63% 8.57% 7.20%
13.97% 14.67% 13.57% 14.49% 14.80% 15.19% 16.66% 17.17% 16.91% 18.11% 19.70% 19.36%
No. of Shareholders 99,22999,90398,30197,86596,9361,06,9891,19,3011,35,1031,58,4461,63,9441,62,2101,89,596

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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