Want to see IN:JIOFIN full AI Analyst Report?
Top Page
Jio Financial Services Limited
(JIOFIN)
Select Model
Select Model
Rating:57Neutral
Price Target:
₹226.00
▼(-4.30% Downside)
Action:Reiterated
Date:10/15/26
The score is held back primarily by inconsistent cash-flow history and low ROE despite strong reported margins, alongside weak technical trends (price below major moving averages with negative MACD). A very high P/E and low yield further pressure the risk/reward, partially offset by a positive earnings call emphasizing rapid operating momentum and partnership-led growth (subject to regulatory approvals).
Positive Factors
Digital platform and distribution scale
The large digital user base and broad geographic reach provide a scalable channel for cross-selling lending, payments, investments, and protection products. Automated operations and AI-led conversion improvements can support customer acquisition and operating leverage as the platform expands.
Negative Factors
Low return on equity
The very low ROE shows that the company is not yet converting its substantial equity base into strong shareholder returns. Unless profitability scales faster than capital deployment, this can constrain long-term compounding and signal that newer businesses remain in an investment or gestation phase.
Read all positive and negative factors
Positive Factors
Negative Factors
Digital platform and distribution scale
The large digital user base and broad geographic reach provide a scalable channel for cross-selling lending, payments, investments, and protection products. Automated operations and AI-led conversion improvements can support customer acquisition and operating leverage as the platform expands.
Read all positive factors
Jio Financial Services Limited (JIOFIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.37T
Dividend Yield0.29%
Average Volume (3M)973.25K
Price to Earnings (P/E)78.4
Beta (1Y)1.57
Revenue Growth117.24%
EPS Growth2.76%
CountryIN
Employees2,000
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)2.64
Shares Outstanding6,603,141,600
10 Day Avg. Volume967,486
30 Day Avg. Volume973,245
Financial Highlights & Ratios
PEG Ratio-28.92
Price to Book (P/B)1.06
Price to Sales (P/S)40.14
P/FCF Ratio133.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹300.00Price Target Upside27.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.4
Revenue Forecast (FY)₹53.26B
Jio Financial Services Limited Business Overview & Revenue Model
Company Description
Jio Financial Services Limited is an Indian non-banking financial company that provides digital financial products and services without accepting deposits. Established in 1999 and based in Mumbai, India, the company previously operated as Reliance...
How the Company Makes Money
Jio Financial Services’ revenue model is based on generating income from financial services activities conducted through its subsidiaries and platforms. Key potential revenue streams for a company of this type typically include: (1) interest incom...
Jio Financial Services Limited Earnings Call Summary
Earnings Call Date:Oct 15, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Jan 21, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall, with highlights significantly outweighing lowlights. Management reported rapid growth across lending, payments, asset management, insurance broking, technology, and digital engagement, supported by strong capital resources and global partnerships. The main challenges were planned payment-volume reduction and customer churn in low-margin segments, sequential reinsurance moderation, temporary softness in some high-frequency app activity, higher finance costs and expenses, a reported decline in consolidated profit after tax, and pending regulatory approvals.Positive Updates
Strong Consolidated Income and Operating Profit Growth
Excluding the impact of the dividend in Q2 FY 2026, consolidated total income grew 132% year-on-year to INR 1,699 crore, while pre-provision operating profit increased 85% year-on-year to INR 574 crore. Consolidated profit before tax, excluding the dividend impact, rose 51% year-on-year to INR 489 crore.
Negative Updates
Sequential Payment Volume Decline and Planned Customer Churn
Jio Payment Solutions experienced a quarter-on-quarter adjustment in total payment value to INR 14,682 crore because it pivoted toward margin-accretive merchant sectors. The company stated that this strategy led to planned customer churn in lower-margin segments and the exit from certain high-volume, low-margin engagements.
Read all updates
Q2-2027 Updates
Positive
Negative
Strong Consolidated Income and Operating Profit Growth
Excluding the impact of the dividend in Q2 FY 2026, consolidated total income grew 132% year-on-year to INR 1,699 crore, while pre-provision operating profit increased 85% year-on-year to INR 574 crore. Consolidated profit before tax, excluding the dividend impact, rose 51% year-on-year to INR 489 crore.
Read all positive updates
Company Guidance
Management said Bank of America’s agreement to acquire a 49.9% stake in Jio Credit, subject to regulatory approvals, is expected to bring around INR 18,000 crore in growth capital, with the first tranche of its investment of around INR 9,500 crore subject to regulatory and statutory approvals; the BlackRock Advantage World Equity Fund is planned for launch during the current quarter, Jio Allianz General Insurance Limited is in advanced stages for securing regulatory approvals to commence operations, and the company will continue to remain strongly engaged with Allianz under the non-binding agreement to strategize the launch of its life insurance JV.Jio Financial Services Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 56.25B | 35.43B | 17.67B | 17.98B | 234.80M | 1.90B |
| Gross Profit | 40.46B | 27.39B | 17.20B | 17.50B | 234.80M | 1.90B |
| EBITDA | 22.05B | 19.41B | 19.77B | 19.88B | 493.40M | 1.77B |
| Net Income | 17.12B | 15.61B | 16.13B | 16.05B | 312.50M | 1.68B |
Balance Sheet | ||||||
| Total Assets | 1.82T | 1.63T | 1.34T | 1.45T | 1.15T | 222.81M |
| Cash, Cash Equivalents and Short-Term Investments | 124.59B | 35.98B | 118.25B | 165.84B | 163.41B | 51.00K |
| Total Debt | 413.25B | 217.68B | 39.70B | 0.00 | 14.86B | 0.00 |
| Total Liabilities | 520.70B | 296.43B | 100.13B | 57.15B | 8.09B | 909.00K |
| Stockholders Equity | 1.30T | 1.34T | 1.23T | 1.39T | 1.14T | 222.80M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 10.63B | -101.25B | -6.78B | 20.55B | 12.30M |
| Operating Cash Flow | 0.00 | 11.69B | -100.83B | -6.78B | 20.55B | 12.30M |
| Investing Cash Flow | 0.00 | -223.70B | 64.06B | 14.41B | -11.66B | -12.29M |
| Financing Cash Flow | 0.00 | 214.54B | 39.62B | -7.53B | -8.89B | 0.00 |
Jio Financial Services Limited Technical Analysis
Negative
236.15
Price Trends
225.62
Negative
233.94
Negative
241.62
Negative
Market Momentum
-5.49
Positive
34.82
Neutral
22.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JIOFIN, the sentiment is Negative. The current price of 236.15 is above the 20-day moving average (MA) of 212.60, above the 50-day MA of 225.62, and below the 200-day MA of 241.62, indicating a bearish trend. The MACD of -5.49 indicates Positive momentum. The RSI at 34.82 is Neutral, neither overbought nor oversold. The STOCH value of 22.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:JIOFIN.
Jio Financial Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹994.51B | 33.33 | ― | 2.33% | 11.96% | 8.24% | |
77 Outperform | ₹591.75B | 36.46 | ― | 2.39% | 22.78% | 20.44% | |
69 Neutral | ₹377.40B | 82.76 | ― | 0.33% | 34.70% | 32.28% | |
68 Neutral | ₹244.57B | 24.73 | ― | 3.02% | 4.05% | 1.49% | |
59 Neutral | ₹416.48B | 33.31 | ― | 1.32% | 24.87% | 7.34% | |
57 Neutral | ₹1.37T | 78.41 | ― | 0.29% | 117.24% | 2.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:JIOFIN
Jio Financial Services Limited
204.50
-101.58
-33.19%
IN:360ONE
360 One Wam Limited
983.35
-84.12
-7.88%
IN:ABSLAMC
Aditya Birla Sun Life Amc Limited
804.85
63.44
8.56%
IN:ANANDRATHI
Anand Rathi Wealth Ltd.
2,249.00
710.98
46.23%
IN:HDFCAMC
HDFC Asset Management Co. Ltd.
2,305.80
-324.17
-12.33%
IN:NAM.INDIA
Nippon Life India Asset Management Ltd.
905.00
57.36
6.77%
Jio Financial Services Limited Corporate Events
Jio Financial Services Announces Trading Window Closure Ahead of Q2 Results
Sep 29, 2026
Jio Financial Services Limited has notified the stock exchanges that its trading window for directors, promoters, designated persons and specified connected persons will be closed from October 1, 2026. The window will reopen 48 hours after the com...
Jio Financial Services Clarifies Conduct at J.P. Morgan Investor Meet
Sep 24, 2026
Jio Financial Services Limited has disclosed that its executives took part in an institutional investors’ meeting, the J.P. Morgan India Financials Tour in Mumbai on September 24, 2026, organised by a third party. The company emphasised that...
Jio Financial Services details third post-listing AGM proceedings and governance practices
Aug 26, 2026
Jio Financial Services Limited operates in India’s financial services industry, delivering digital-first financial solutions and maintaining listings on both the BSE and NSE under the symbol JIOFIN. The company is focused on strong governanc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.