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JM Financial Limited
(JMFINANCIL)
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Rating:67Neutral
Price Target:
₹143.00
▲(17.17% Upside)
Action:Reiterated
Date:09/06/26
The score is held back most by uneven fundamentals—especially highly volatile cash flow and inconsistent revenue trends—despite strong margin-driven profitability improvements and better leverage trajectory. Technicals are supportive with the stock trading above major moving averages and positive MACD, while valuation is reasonable with a modest P/E and a mid-single-digit dividend yield.
Positive Factors
Stronger profitability and margins
JM Financial has materially improved earnings power, with net income nearly tripling and net margin expanding sharply over two years. This provides a stronger base for reinvestment and resilience, although sustaining the improvement will depend on converting margin gains into durable business growth.
Negative Factors
Declining and inconsistent revenue
Top-line weakness shows that recent earnings growth has been driven more by margin and operating leverage than by sustained expansion in revenue. If declining or inconsistent revenue persists, it could limit future profit growth and make the improved earnings profile less durable.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger profitability and margins
JM Financial has materially improved earnings power, with net income nearly tripling and net margin expanding sharply over two years. This provides a stronger base for reinvestment and resilience, although sustaining the improvement will depend on converting margin gains into durable business growth.
Read all positive factors
JM Financial Limited (JMFINANCIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹120.24B
Dividend Yield2.52%
Average Volume (3M)220.90K
Price to Earnings (P/E)11.9
Beta (1Y)1.72
Revenue Growth-2.59%
EPS Growth-5.88%
CountryIN
Employees5,250
SectorGeneral
Sector StrengthN/A
IndustryInvestment - Banking & Investment Services
Share Statistics
EPS (TTM)10.87
Shares Outstanding956,959,960
10 Day Avg. Volume219,563
30 Day Avg. Volume220,904
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)1.02
Price to Sales (P/S)2.55
P/FCF Ratio31.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)12.8
Revenue Forecast (FY)₹31.42B
JM Financial Limited Business Overview & Revenue Model
Company Description
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 i...
JM Financial Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.87B | 42.61B | 40.27B | 42.54B | 32.47B | 37.53B |
| Gross Profit | 29.69B | 27.05B | 27.22B | 26.93B | 20.69B | 26.72B |
| EBITDA | 15.22B | 16.83B | 10.61B | 4.06B | 9.94B | 13.86B |
| Net Income | 10.40B | 12.02B | 8.21B | 4.10B | 5.97B | 7.73B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 265.37B | 245.04B | 297.64B | 293.70B | 258.14B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 48.68B | 5.40B | 22.41B | 5.24B | 12.63B |
| Total Debt | 0.00 | 116.35B | 115.07B | 162.28B | 159.39B | 134.98B |
| Total Liabilities | -113.58B | 151.79B | 142.74B | 187.08B | 181.01B | 151.89B |
| Stockholders Equity | 113.58B | 106.57B | 97.28B | 84.91B | 81.36B | 76.86B |
Cash Flow | ||||||
| Free Cash Flow | -3.49B | 3.44B | 55.35B | 24.61B | -25.73B | -32.20B |
| Operating Cash Flow | -3.18B | 4.09B | 55.69B | 25.15B | -24.49B | -32.03B |
| Investing Cash Flow | 12.31B | -1.25B | -24.75B | -20.90B | -4.51B | 26.16B |
| Financing Cash Flow | -2.73B | -3.51B | -47.86B | 1.62B | 21.53B | 10.24B |
JM Financial Limited Technical Analysis
Negative
122.05
Price Trends
126.57
Negative
126.45
Negative
129.01
Negative
Market Momentum
-0.44
Positive
47.49
Neutral
70.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JMFINANCIL, the sentiment is Negative. The current price of 122.05 is below the 20-day moving average (MA) of 126.91, below the 50-day MA of 126.57, and below the 200-day MA of 129.01, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 47.49 is Neutral, neither overbought nor oversold. The STOCH value of 70.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:JMFINANCIL.
JM Financial Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹108.75B | 18.90 | ― | 0.87% | -4.46% | -19.71% | |
67 Neutral | ₹120.24B | 11.87 | ― | 2.52% | -2.59% | -5.88% | |
64 Neutral | ₹165.07B | 62.23 | ― | ― | 28.51% | 27.16% | |
62 Neutral | ₹250.45B | 24.13 | ― | 1.84% | 9.28% | 3.02% | |
60 Neutral | ₹601.77B | 30.19 | ― | 0.60% | 14.81% | -29.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹130.34B | 19.26 | ― | 1.05% | 16.27% | 44.44% |
* General Sector Average
IN:JMFINANCIL
JM Financial Limited
129.00
-30.45
-19.10%
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274.45
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28.58%
IN:CHOICEIN
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725.45
-41.15
-5.37%
IN:EDELWEISS
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142.85
35.14
32.63%
IN:IIFLCAPS
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346.25
60.61
21.22%
IN:MOTILALOFS
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993.40
101.00
11.32%
JM Financial Limited Corporate Events
JM Financial clears clean audits at 41st AGM, underscores governance focus
Aug 3, 2026
JM Financial Limited held its 41st Annual General Meeting on August 3, 2026, in physical mode at Ravindra Natya Mandir in Mumbai, with Non-executive Chairman Nimesh Kampani presiding and key board members, committee chairpersons and auditors in at...
JM Financial discloses voting results of 41st AGM
Aug 3, 2026
JM Financial Limited has reported the results of shareholder voting conducted at its forty-first Annual General Meeting held on August 3, 2026, which was conducted in physical mode. The company submitted to the stock exchanges the SEBI-prescribed ...
JM Financial files FY26 Business Responsibility and Sustainability Report
Jul 10, 2026
JM Financial Limited has submitted its Business Responsibility and Sustainability Report for the financial year 2025-26, which forms part of its forty-first annual report and covers its standalone operations. The BRSR, assured with reasonable assu...
JM Financial Moves AGM and FY 2025-26 Report Access Fully Online, Tightens KYC Rules
Jul 10, 2026
JM Financial Limited has scheduled its forty-first annual general meeting for August 3, 2026, in Mumbai and is circulating its annual report for FY 2025-26 through online channels, including dedicated web links, QR codes, and stock exchange websit...
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.