Jm Financial Limited · NSE:JMFINANCIL
Jm Financial — Q3 FY26 Earnings Presentation
28 slides from Jm Financial's earnings presentation, Feb 5, 2026
Slide 1: Investor Presentation cover letter to exchanges
February 5, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza 1st Floor, New Trading Ring Plot No.C-1, G Block Rotunda Building, P J Towers Bandra-Kurla Complex Dalal Street, Fort, Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Security Code:
Slide 2: JM Financial Limited – Q3FY26 Results Update
JM Financial Limited – Q3FY26 Results Update
Slide 3: Disclaimer/ Safe Harbor
Disclaimer/ Safe Harbor This presentation and the following discussion may contain certain words or phrases that are “forward looking statements” by JM Financial Limited (together with its subsidiaries and associates), referred to as (“JM Financial” or “JMFL” or “the Company”) that are not historica
Slide 4: Table of Contents
Table of Contents Section 1 Overview Section 2 Segment Performance Section 3 Annexure 2
Slide 5: Section 1: Overview
Section : 1 Overview A JM Financial
Slide 6: JM Financial: Focus on High Growth and High RoE Businesses
JM Financial : Focus on High Growth and High RoE Businesses ✓ Leadership Corporate Advisory and Capital Markets ✓ Best in class relationships Investment Banking, Institutional Equities ✓ Strong sticky repeat business ✓ Highest ever client addition ✓ Expanding wallet share of clients ✓ Strong multi-d
Slide 7: Strong Financial Performance
Strong Financial Performance Q3 FY26 (Rs Cr) YoY (% Change) 9M FY26 (Rs Cr) YoY (% Change) Fees and Commission 306 32% 879 25% Consolidated PAT 313 50% 1,037 69% Operating PAT^ 244 17% 968 58% Networth 10,418 17% 10,418 17% ^ PAT for Q3FY26 and 9MFY26 adjusted for receipt of interest on income tax r
Slide 8: Strong growth across business segments
Strong growth across business segments Q3 FY26 (Rs Cr) YoY (Change) Wealth - (RMs and Sales Employee Count) 1,057 41% (310) Wealth – Branches 73 11 Wealth - Recurring AUM (Rs. Cr) 33,144 33% MF – Non Liquid AAUM (Rs. Cr) 12,021 15% Affordable Home Loans AUM (Rs. Cr) 3,183 23% ~Rs.1,21,000 crore acro
Slide 9: Summary Consolidated Profit & Loss Statement
Summary Consolidated Profit & Loss Statement Particulars (Rs Cr) Q3 FY26^ Q3 FY25 YoY % 9M FY26^ 9M FY25 YoY % FY25 Net Revenue 677 722 -6.2% 2,165 2,139 1.2% 2,805 Employee cost 285 220 29.3% 855 744 14.9% 963 Operating expenses 106 99 8.2% 300 292 2.7% 420 Pre Provisioning profit (PPoP) 286 403 -2
Slide 10: Summary Consolidated Balance Sheet
Summary Consolidated Balance Sheet Sr. No. Particulars (Rs Cr) Dec 31, 2025 Sep 30, 2025 Dec 31, 2024 A Assets 1 Business assets* 22,622 22,428 23,522 2 Treasury and other assets** 1,903 2,103 2,684 TOTAL (1+2) 24,525 24,531 26,206 B Equity and Liabilities 1 Capital Employed 10,709 10,534 11,324 - N
Slide 11: Key Parameters
Key Parameters 9MFY26 FY25 Particulars (Rs Cr) Capital % Effective Loan Book/ Capital Loan Book/ PAT* PAT* Employed Holding AUM** Employed AUM** Corp Advisory and Capital Markets 790 308 100% - 638 322 - YoY (%) 39% 33% Wealth Management 1,113 93 100% 1,18,100 1,032 129 1,12,874 YoY (%) ~ 4% 82% 11%
Slide 12: Section 2: Segment Performance
Section : 2 Segment Performance 10
Slide 13: Corporate Advisory and Capital Markets
Corporate Advisory and Capital Markets Clients Products / Services Business Priorities Q3FY26 Highlights Promoters ➢ M&A and ➢ Expand the depth and ➢ # 1 in IPOs** and closed 37 equity capital market Restructuring advisory breadth of the client base transactions of over ~Rs. 87,000 crore in CY25 pra
Slide 14: Wealth Management
Wealth Management Clients Products / Services Business Priorities Q3FY26 Highlights UHNI / HNI ➢ Distribution ➢ Expand Infrastructure (physical, ➢ Added 11 branches and 27 franchisees YoY digital) and talent ➢ Sales and wealth RMs headcount has increased by Mass Affluent ➢ Securities Broking ➢ Build
Slide 15: Wealth Management
Wealth Management Wealth RMs Sales Employees Branch Network Franchisee Network 73 922 222 11 31% 835 2x (198) 62 27 (112) 637 895 110 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Total Wealth AUM* (Rs. Cr) Recurring AUM (Rs. Cr) Loans (Rs. Cr) Cash market share (%) 33,144 33% 2,093 2.7% 2
Slide 16: Asset Management
Asset Management Clients Products / Services Business Priorities Q3FY26 Highlights ➢ MF Average AUM : Rs. 14,344 Cr (December 2024: ➢ Mutual Fund ➢ Further building scale and UHNI / HNI Rs. 13,574 Cr) engagement Mass Affluent ➢ Equity and Debt AIFs ➢ MF Average AUM of Equity Schemes : Rs. 11,651 Cr
Slide 17: Asset Management
Asset Management AAUM (Rs. Cr) AAUM - Non Liquid (Rs. Cr) SIP Book per month (Rs. Cr) 14,344 12,021 6%% 15% 106 107 13,574 10,418 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Folios (Lakhs) Active Partners # Employees 9.0 6,021 9%% 23% 211 4,912 15%% 8.3 184 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 15
Slide 18: Private Markets
Private Markets Clients Products / Services Business Priorities Q3FY26 Highlights ➢ Private Credit ➢ Deliver on franchise enhancing ➢ Non Core Loan book reduced to Rs. 347 crore (Rs. Corporates (Corporate, Bespoke, syndication along with 1,109 crore for Q3FY25) Distressed and Real consistent risk ma
Slide 19: Private Markets
Private Markets Focused Loan Book (Rs. Cr) Loan Book ➢ Yield for Q3FY26 : 13.6% 4,942 5,057 ➢ Disbursements at Rs. 824 crore (primarily in Bespoke) during the quarter 4,574 4,173 4,109 1,477 2,154 2,994 ➢ Strong repayments and pre-payments in the focused loan book 2,304 2,472 3,097 ➢ Current size of
Slide 20: Affordable Home Loans
Affordable Home Loans Clients Products / Services Business Priorities Q3FY26 Highlights ➢ AUM : Rs. 3,183 Cr (Rs. 2,588 Cr in Q3FY25), up by Retail – Salaried ➢ Home Loans ➢ Build Scale 23% YoY ➢ Loan Against Property ➢ Increased Productivity ➢ Portfolio assigned : Rs. 155 Cr Retail – Self Employed
Slide 21: Affordable Home Loans
Affordable Home Loans AUM (Rs. Cr) Disbursement (Rs. Cr) Split of branches (135) - 9 States (%) On-book % 87% 81% (9M Dec) 625 727 4% 4% 0% 3,183 321 309 9% 6% 23% 29% 2,588 12% 22% 14% Q3FY25 Q3FY26 Q3FY25 Q3FY26 GUJARAT MAHARASHTRA TAMIL NADU TELANGANA MADHYA PRADESH ANDHRA PRADESH KARNATAKA RAJAS
Slide 22: Section 3: Annexure
Section : 3 Annexure A JM Financial 20
Slide 23: Segment Performance
Segment Performance Segment Revenue (Rs Cr) Q3 FY26^ Q3 FY25 YoY % 9MFY26^ 9MFY25 YoY % FY25 Corporate Advisory and Capital Markets 239 174 37.4% 776 569 36.2% 788 Wealth Management* 339 325 4.3% 1,022 978 4.5% 1,317 Asset Management* 11 10 7.8% 38 30 25.6% 43 Private Markets 327 483 -32.2% 1,004 1,
Slide 24: Corporate Advisory & Capital Markets
Corporate Advisory & Capital Markets Particulars (Rs Cr) Q3 FY26 Q3 FY25 YoY % 9MFY26 9MFY25 YoY % FY25 Segment Net worth + NCI 790 541 45.9% 790 541 45.9% 638 Net Revenue 210 162 29.9% 670 514 30.4% 713 Employee cost 75 46 64.7% 218 187 16.2% 235 Operating expenses 18 13 35.6% 52 38 38.6% 57 Operat
Slide 25: Wealth and Asset Management
Wealth and Asset Management Particulars (Rs Cr) Q3 FY26 Q3 FY25 YoY % 9MFY26 9MFY25 YoY % FY25 Segment Net worth + NCI 1,229 1,111 10.7% 1,229 1,111 10.7% 1,187 Net Revenue 192 179 7.1% 617 554 11.4% 752 Impairment on Financial Instruments # 3 -84.3% 3 8 -64.6% 1 Employee cost 128 101 26.6% 388 315
Slide 26: Private Markets
Private Markets Particulars (Rs Cr) Q3 FY26 Q3 FY25 YoY % 9MFY26 9MFY25 YoY % FY25 Segment Net worth + NCI* 6,471 6,970 -7.2% 6,471 6,970 -7.2% 6,171 Net Revenue 171 261 -34.5% 527 734 -28.2% 878 Impairment on Financial Instruments (24) 109 N/M (256) 401 N/M 411 Employee cost 30 31 -3.5% 101 125 -19
Slide 27: Affordable Home Loans
Affordable Home Loans Particulars (Rs Cr) Q3 FY26 Q3 FY25 YoY % 9MFY26 9MFY25 YoY % FY25 Segment Net worth + NCI 805 733 9.9% 805 733 9.9% 749 Total Income 118 93 27.0% 328 264 24.2% 363 Finance cost 38 32 21.4% 114 97 17.4% 131 Net Total Income 80 61 29.9% 214 167 28.1% 232 Impairment on Financial
Slide 28: Effective Shareholding: December 31, 2025
Effective Shareholding : December 31, 2025 Effective Ownership of Name of the Subsidiary / Associate Company JM Financial Limited December 2025 JM Financial Credit Solutions Limited 100.0% JM Financial Products Limited 99.8% JM Financial Institutional Securities Limited 100.0% JM Financial Home Loan