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India
As of 18 Sept 2026, 03:30 pm
JM Financial received an ESG score of '76' under the 'Leader' category from NSE Sustainability Ratings & Analytics Limited for the financial year 2025-26, based on public domain data. Separately, ESG Risk Assessments & Insights Limited assigned the company an ESG score of '69 (Strong)' for the same period, also based on public domain data. JM Financial noted that it did not engage NSE Sustainability for its rating, and both ratings were independently generated.
As of September 18, 2026, JM Financial's daily trend indicators suggest a bearish direction with the SuperTrend at ₹131.63. The 20-day Exponential Moving Average (EMA) is ₹126.54, slightly above the closing price of ₹126.3. Key support levels are identified at ₹125.67 and ₹124.72, while resistance levels are noted at ₹128.8 and ₹131.1.
On August 31, 2026, CRISIL Ratings Limited reaffirmed JM Financial's Long-term Bank Loan Facility and Commercial Paper ratings at CRISIL AA/Stable and CRISIL A1+ respectively. CRISIL also assigned a new CRISIL AA/Stable rating to the company's Non-Convertible Debentures.
JM Financial's performance shows a 3% return in the last day and a 1% return over the past month. However, it has experienced a decline of 14% year-to-date and a 28% decrease over the last year. The return since the start of trading is -3%.
JM Financial announced a special window for shareholders to re-lodge physical transfer deeds executed before April 1, 2019. This window remains open until February 4, 2027, allowing eligible shareholders to submit documents to Registrar KFin Technologies Limited for demat crediting of securities, as per a SEBI circular. The notice was published on August 11, 2026.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Interest Earned | ₹422.53 crore | ₹393.24 crore | ₹380.31 crore | ₹389.25 crore | PEAK₹489.36 crore |
| Revenue From Operations | PEAK₹1,200.53 crore | ₹949.12 crore | ₹999.36 crore | ₹1,031.28 crore | ₹1,111.34 crore |
| Income | PEAK₹1,224.66 crore | ₹969.21 crore | ₹1,125.87 crore | ₹1,044.28 crore | ₹1,121.23 crore |
| Expenses | PEAK₹769.12 crore | ₹726.11 crore | ₹704.20 crore | ₹699.89 crore | ₹528.67 crore |
| Profit Before Tax | ₹455.54 crore | ₹243.10 crore | ₹400.38 crore | ₹344.39 crore | PEAK₹592.56 crore |
| Profit Loss For Period | ₹368.57 crore | ₹161.92 crore | ₹318.46 crore | ₹261.89 crore | PEAK₹458.77 crore |
The quarter showed a strong revenue rebound and a sharp sequential recovery in profit. However, reported profit fell year‑on‑year mainly because of a large swing in impairment – from a significant credit last year to a small charge this year. Excluding that swing, underlying profitability actually improved. Investors should be aware that impairment movements can cause material volatility in reported earnings from one period to the next.
Exchange disclosures and regulatory announcements for JM Financial.
On September 2, 2026, NSE Sustainability Ratings & Analytics Limited assigned JM Financial Limited an ESG score of 76 under the 'Leader' category based on public domain data for the financial year 2025-26. The company disclosed that it did not engage NSE Sustainability for this rating, which was independently generated by the provider. This disclosure was submitted to stock exchanges and posted on the company's website on September 3, 2026.
On August 31, 2026, CRISIL Ratings Limited reaffirmed the Long-term Bank Loan Facility and Commercial Paper ratings of JM Financial Limited at CRISIL AA/Stable and CRISIL A1+ respectively, while assigning a new CRISIL AA/Stable rating to its Non-Convertible Debentures. The Company Secretary, Hemant Vijay Pandya, submitted this intimation to BSE Limited and NSE Limited pursuant to SEBI Listing Regulations.
JM Financial Limited disclosed on August 20, 2026, that ESG Risk Assessments & Insights Limited (ESG Risk.ai), a SEBI-registered Category I ESG Rating Provider, independently assigned the company an ESG score of '69 (Strong)' for FY 2025-26 based on public domain data, without the company having engaged the rating provider.
JM Financial Limited announced a special window for shareholders to re-lodge physical transfer deeds executed prior to April 1, 2019, which remains open until February 4, 2027. This initiative, mandated by a SEBI circular dated January 30, 2026, allows eligible shareholders to submit documents to Registrar KFin Technologies Limited for demat crediting of securities. The company published the notice in Business Standard and Sakal on August 11, 2026, and made it available on its website.
JM Financial reported Q1 FY27 results with net revenue up 13% YoY to INR883 crores and PAT (ex-provisions) up 24% to INR379 crores. Private Markets segment saw strong distressed credit resolutions with over INR2,000 crores collected, group share over INR1,200 crores. Corporate Advisory and Capital Markets had a slow quarter due to lack of IPO activity, but July revenues already exceeded June. The company outlined a further INR150 crores investment in Asset Management over 2 years and targets a separate listing for its Affordable Housing business in 2-3 years.
JM Financial Limited uploaded the transcript of its earnings or quarterly call to its website on August 10, 2026, at 14:43:00. The call concluded on August 4, 2026, at 17:53:00, following prior intimation to the exchange on July 29, 2026.
JM Financial Limited conducted an earnings conference call on August 4, 2026, to discuss its financial performance for the first quarter ended June 30, 2026. An audio recording of this call has been uploaded to the company's website.
Recent market and company developments associated with JM Financial.
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Comprehensive Section Breakdown for JM Financial
Strategic Vision: Integrated Indian financial services group with diverse business lines.
• Integrated and diversified financial services group
• Presence across India
Summary
JM Financial’s first quarter ended June 2026 saw revenue recover sharply from the previous quarter, reaching its highest level in the five quarters reported. Profit before tax more than doubled compared to the March quarter. However, compared to the same period last year, pre‑tax profit fell by about 23%. A large part of that decline came from a swing in impairment on financial instruments: the year‑ago quarter included a substantial credit that reduced expenses, while the current quarter recorded a small charge. Excluding that swing, underlying profitability actually improved.
Total income for the quarter was ₹1,224.66 crore, up 26.36% from the previous quarter and 9.22% from the year‑ago quarter. Revenue from operations followed a similar path, rising 26.49% quarter‑on‑quarter to ₹1,200.53 crore.
Interest earned fell 13.66% year‑on‑year to ₹422.53 crore, though it improved 7.45% from the March quarter. The decline in interest income means the overall revenue growth came from non‑interest sources. In the current quarter, fees and commission income contributed ₹199.83 crore and net gains on fair value changes added ₹381.36 crore, highlighting the importance of these activities to the top line.
Total expenses rose 45.48% year‑on‑year to ₹769.12 crore. However, this increase was driven mainly by a sharp movement in impairment on financial instruments.
In the year‑ago quarter, the company recorded an impairment credit of ₹204.45 crore, which reduced total expenses. In the current quarter, it recorded an impairment charge of ₹13.57 crore, which increased expenses. The ₹218 crore swing between these two figures accounts for most of the reported expense growth.
Excluding impairment, expenses were ₹755.55 crore, compared with ₹733.12 crore a year earlier – an increase of about 3%. Finance costs were stable at ₹246.56 crore (down 1.72% year‑on‑year), while other expenses rose 25.52% to ₹95.37 crore. Employee benefit expense was ₹296.46 crore in the quarter.
Profit before tax (PBT) was ₹455.54 crore, up 87.39% from the March quarter’s low of ₹243.10 crore. Compared with the year‑ago quarter, however, PBT fell 23.12% from ₹592.56 crore.
The year‑on‑year decline was largely the result of the impairment swing. If the impairment effects are removed, adjusted PBT would have been ₹469.11 crore this quarter, compared with ₹388.11 crore a year ago – an improvement of about 21%. This indicates that underlying operating performance strengthened, even though reported profit fell.
Net profit for the period was ₹368.57 crore, up 127.62% sequentially but down 19.66% year‑on‑year. Basic earnings per share was ₹3.05, reflecting the same pattern.
Tax expense for the quarter was ₹86.80 crore, down 35.69% from the year‑ago quarter. The effective tax rate was approximately 19.1%, compared with 22.8% a year earlier.
The lower rate was driven by a movement in deferred tax. This quarter included a deferred tax credit of ₹32.35 crore, whereas the year‑ago quarter had a deferred tax charge of ₹52.59 crore. At the same time, current tax rose 44.62% year‑on‑year to ₹119.15 crore. The net effect was a smaller total tax bill relative to pre‑tax profit.
Category: Financial Services
This segment serves institutional, corporate, promoter, government, and ultra-high-net-worth clients, encompassing investment banking, institutional equities, and research services.
Category: Financial Services
This business includes wealth management, broking services, Portfolio Management Services (PMS), Equity & Debt Alternative Investment Funds (AIFs), and mutual fund operations.
Key Products & Services: JM Financial Services
Category: Financial Services
This segment comprises Private Credit, including corporate, bespoke, real estate, and distressed credit solutions, and investments in private equity funds and Real Estate Investment Trusts (REITs).
Key Products & Services: JM Financial Private Equity Fund
Category: Financial Services
This business focuses on providing affordable housing finance solutions.
Core Thesis: The group operates through its flagship listed company and subsidiaries engaging in various financial services to offer integrated solutions.
• Integrated Financial Services: The group's primary businesses include Corporate Advisory and Capital Markets, Wealth and Asset Management, Private Markets, and Affordable Home Loans, offering a diversified range of financial solutions. • Subsidiary Operations: JM Financial Limited operates directly and through its subsidiary and associate companies engaged in Non-Banking Financial Services, Asset Reconstruction, Equity Research, Equity Broking, Wealth Management advisory, and Mutual Funds Asset Management.