Small Asset Management
Market Cap
₹11,938 ₹11,938 Cr.
P/E
11.48
PEG
0.73
PEG = P/E ÷ 5yr Forward EPS CAGR
5yr Forward EPS CAGR Thesis - Base Case

- The bull case requires simultaneous delivery of CACM transaction conversion, Wealth productivity gains, and Affordable Housing scale-up — outcomes that have so far lagged management ambitions- The bear case is triggered by a combined failure in Private Markets recoveries and Wealth-management revenue conversion, exposing unprotected fee-income downside
- Base-case thesis hinges on the pivot from on-balance-sheet lending to fee-based syndication, with Wealth and CACM contributing two-thirds of the projected revenue increase

Key Ratios

Debt to Equity
Debt to Equity
1.09
Div Yield (%)
Div Yield (%)
2.61
Individual < 2 lac
Individual < 2 lac
11.90 %
Institutions
Institutions
22.44 %
Market cap
Market cap
11,938 Cr
No. of Shareholders
No. of Shareholders
1.76 L
OPM (%)
OPM (%)
56.45 %
PE
PE
11.48
Prom Holding
Prom Holding
57.03 %
ROCE (%)
ROCE (%)
15.46
ROE (%)
ROE (%)
11.28
Sales
Sales
4,180 Cr
  • JM Financial
  • Pilani Investment
  • Summit Securities
  • TJI Asset Management
Last updated on 31 Aug 2026
  • JM Financial runs fee-led services across capital markets, wealth and asset management, private markets and affordable home loans.
  • Pivoted May 2024 away from wholesale credit toward fee and private-markets businesses; legacy wholesale book sharply run down.
  • Q1 reported profit falls on ₹13Cr provisions versus ₹204Cr release last year, masking higher operating profit.
  • Earnings ride Private Markets resolutions while deal-driven capital markets swing; wealth and home loans build steadily.
  • Growth centres on wealth-distribution flywheel; unit listings considered only at scale.
  • Near term turns on converting filed deal pipeline and sustaining resolutions; Private Markets recoveries guided ₹250–300Cr FY27, wealth breakeven by FY27.
  • Filed IPO pipeline H2FY27
    converts 60 filed IPOs ~₹150,000Cr after July topped Q1 per management.
  • ARC debt-free within 6 months to ~Feb 2027
    eliminates ARC leverage and frees ~₹3,000Cr cash for redeployment.
  • Alternative fund closes by end FY27
    adds pre-IPO and credit fund assets to fee base on regulatory approval.
  • Pre-COVID resolutions and write-backs next 9 months to ~May 2027
    books resolutions and real-estate write-backs against ₹3,114Cr portfolio.
  • Broking-unit tax demands No timeline
    quantifies AY2012–15 demands and any provisioning hit.
Price Range

See where the stock is trading versus its 52-week high and low.

Low
112
52W Range
High
183
Timeline

Key company specific updates.

Custom financial statement

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Forensics

9 Yes

Positive for this company

1 Neutral

Neutral for this company

7 No

Negative for this company

0 No Data

Insufficient data to analyse

Market Share

0.26 %
(as of Jul 26)
Equity AUM - Market Share
0.15 %
(as of Jul 26)
Mutual Fund - Market Share

Revenue mix

Product Wise Break-Up

Segment Break-Up

Location Wise Break-Up

Verticals - Distressed Credit

Borrowings Break-Up

Net Profit Break-Up

AUM Break-Up - Asset Management

Asset Break-Up - Geography Wise

Operational Metrics

    Select a Metric
    • AUM - Mutual Funds (Crs)
    • 5 Yr AUM CAGR - Mutual Funds (%)
    • % of AUM in equity fund (%)
    • Net Interest Margin (%)
    • Cost of Borrowing (%)
    • Capital to Risks Assets Ratio (CRAR) (%)
    • Gross NPA (%)
    • Net NPA (%)
    • Yield On Advances (%)

    Peer Comparison

    Corporate Actions

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    Suppliers

    • Redington Ltd.
    • 63 Moons Technologies Ltd.

    FAQs on JM Financial Ltd. Business

    JM Financial Limited is a leading financial services group in India, offering a wide range of services to corporations, financial institutions, and individual investors. Their diverse businesses include Investment Banking, Wealth Management, Mortgage Lending, Distressed Credit, and Asset Management.

    JM Financial major competitors are Pilani Investment, Summit Securities, Gyftr, Dolat Algotech, Indl & Prud Invts.Co, Crest Ventures, Consolid. Finv.&Hold.
    Market Cap of JM Financial is ₹11,943 Crs.
    While the median market cap of its peers are ₹1,205 Crs.

    JM Financial seems to be less financially stable compared to its competitors.
    Altman Z score of JM Financial is 1.59 and is ranked 8 out of its 8 competitors.

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