Jm Financial Limited · NSE:JMFINANCIL
Jm Financial — Q2 FY26 Earnings Presentation
28 slides from Jm Financial's earnings presentation, Nov 6, 2025
Slide 1: Exchange filing cover letter for Investor Presentation
November 6, 2025 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 – Q2FY26 Results Update
JM Financial Limited – Q2FY26 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 Q2 FY26 (Rs Cr) YoY (% Change) Fees and Commission 341 20% PAT 270 16% 18% Networth 10,241 Non Core and RE Loan Book 2,312 59% Over last 12 months JMF ARC share of recoveries stood at Rs.1,273 crore Recovery for JMF ARC* which has been used primarily to repay debt 5 *JM
Slide 8: Strong growth across business segments
Strong growth across business segments Q2 FY26 (Rs Cr) YoY (Change) Wealth - (RMs and Sales Employee Count) 1,015 43% Wealth – Branches 70 11 Wealth - Recurring AUM (Rs. Cr) 32,021 26% MF – Non Liquid AAUM (Rs. Cr) 12,112 36% Affordable Home Loans AUM (Rs. Cr) 3,031 28% Over Rs.1,20,000 crore across
Slide 9: Summary Consolidated Profit & Loss Statement
Summary Consolidated Profit & Loss Statement Particulars (Rs Cr) Q2 FY26 Q2 FY25 YoY % H1 FY26 H1 FY25 YoY % FY25 Net Revenue 708 781 -9.3% 1,488 1,417 5.0% 2,805 Employee cost 271 292 -7.3% 569 523 8.8% 963 Operating expenses 101 106 -5.0% 193 194 -0.1% 420 Pre Provisioning profit (PPoP) 336 383 -1
Slide 10: Summary Consolidated Balance Sheet
Summary Consolidated Balance Sheet Sr. No. Particulars (Rs Cr) Sep 30, 2025 Jun 30, 2025 Sep 30, 2024 A Assets 1 Business assets* 22,428 22,131 25,302 2 Treasury and other assets** 2,103 1,847 2,677 TOTAL (1+2) 24,531 23,978 27,979 B Equity and Liabilities 1 Capital Employed 10,534 10,461 11,108 - N
Slide 11: Key Parameters
Key Parameters H1FY26 FY25 Particulars (Rs Cr) Capital % Effective Loan Book/ Capital Loan Book/ PAT* PAT* Employed Holding AUM** Employed AUM** Corp Advisory and Capital Markets 703 219 100% - 638 322 - YoY (%) 54% 33% Wealth Management 1,100 74 100% 1,18,199 1,032 129 1,12,874 YoY (%) 16% 4% 82% 1
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 Q2FY26 Highlights Promoters ➢ M&A and ➢ Expand the depth ➢ #1 in IPO’s (in terms of value) and closed 15 capital Restructuring advisory and breadth of the market transactions amounting to ~Rs. 28,000 Cr practice c
Slide 14: Wealth Management
Wealth Management Clients Products / Services Business Priorities Q2FY26 Highlights UHNI / HNI ➢ Distribution ➢ Expand Infrastructure (physical, ➢ Added 11 branches and 38 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 Total Wealth AUM* (Rs. Cr) Recurring AUM (Rs. Cr) Loans (Rs. Cr) 204 26% 32,021 1,966 4% 1,14,688 2x% 1,09,783 25,498 16% 1,691 101 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q1FY26 Q2FY26 % of AUM 23.2% 27.9% Sales Employees Branch Network Franchisee Network Cash market
Slide 16: Asset Management
Asset Management Clients Products / Services Business Priorities Q2FY26 Highlights UHNI / HNI ➢ Mutual Fund ➢ Further building scale and ➢ MF Average AUM : Rs. 14,902 Cr (September 2024: engagement Rs. 11,445 Cr) Mass Affluent ➢ Equity and Debt AIFs ➢ MF Average AUM of Equity Schemes : Rs. 11,690 Cr
Slide 17: Asset Management
Asset Management AAUM (Rs. Cr) AAUM - Non Liquid (Rs. Cr) SIP Book per month (Rs. Cr) 14,902 30% 36% 12,112 11,445 % % 59% 115 8,907 72 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Folios (Lakhs) Active Partners # Employees 9.3 5,712 41%% 36%% 4,207 211 6.6 18%% 179 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q
Slide 18: Private Markets
Private Markets Clients Products / Services Business Priorities Q2FY26 Highlights ➢ Private Credit ➢ Deliver on franchise enhancing ➢ In line with the guidance, loan book has reduced to Corporates (Corporate, Bespoke, syndication along with Rs. 4,616 Cr in Q2FY26 v/s Rs. 7,434 Cr in Q2FY25 Distresse
Slide 19: Private Markets
Private Markets Focused Loan Book (Rs. Cr) Loan Book ➢ Yield for Q2FY26 : 12.1% (Q2FY25 : 13.8%) 5,751 4,942 5,057 ➢ Disbursements at Rs. 485 crore during the quarter 4,574 1,738 4,173 1,477 2,154 2,994 ➢ Strong repayments and pre-payments in the focused loan book 2,304 4,013 3,097 2,788 ➢ Current s
Slide 20: Affordable Home Loans
Affordable Home Loans Clients Products / Services Business Priorities Q2FY26 Highlights ➢ Home Loans ➢ Build Scale ➢ AUM : Rs. 3,031 Cr (Rs. 2,366 Cr in Q2FY25) Retail – Salaried ➢ Portfolio assigned : Rs. 101 Cr Retail – Self Employed ➢ Loan Against Property ➢ Increased Productivity ➢ Branch networ
Slide 21: Affordable Home Loans
Affordable Home Loans AUM (Rs. Cr) Disbursement (Rs. Cr) Split of branches (134) - 9 States (%) 4% 0% 28% 3,031 4% 19% 225 % 9% 6% 189 29% 2,366 12% 13% 22% Q2FY25 Q2FY26 Q2FY25 Q2FY26 GUJARAT MAHARASHTRA TAMIL NADU TELANGANA MADHYA PRADESH ANDHRA PRADESH KARNATAKA RAJASTHAN CHHATTISGARH Diversified
Slide 22: Section 3: Annexure
Section : 3 Annexure A JM Financial 20
Slide 23: Segment Performance
Segment Performance Segment Revenue (Rs Cr) Q2 FY26 Q2 FY25 YoY % H1FY26 H1FY25 YoY % FY25 Corporate Advisory and Capital Markets 321 255 25.9% 537 395 35.7% 788 Wealth Management* 329 346 -4.6% 683 653 4.6% 1,317 Asset Management* 12 10 13.6% 27 19 39.3% 43 Private Markets 287 507 -43.4% 677 1,025
Slide 24: Corporate Advisory & Capital Markets
Corporate Advisory & Capital Markets Particulars (Rs Cr) Q2 FY26 Q2 FY25 YoY % H1FY26 H1FY25 YoY % FY25 Segment Net worth + NCI 703 480 46.5% 703 480 46.5% 638 Net Revenue 278 233 19.1% 459 352 30.6% 713 Impairment on Financial Instruments # 1 -86.7% 2 1 64.3% # Employee cost 73 88 -17.8% 142 142 0.
Slide 25: Wealth and Asset Management
Wealth and Asset Management Particulars (Rs Cr) Q2 FY26 Q2 FY25 YoY % H1FY26 H1FY25 YoY % FY25 Segment Net worth + NCI 1,232 1,106 11.4% 1,232 1,106 11.4% 1,187 Net Revenue 200 200 0.1% 426 375 13.5% 752 Impairment on Financial Instruments 1 3 -68.3% 3 5 -51.9% 1 Employee cost 127 115 10.4% 261 214
Slide 26: Private Markets
Private Markets Particulars (Rs Cr) Q2 FY26 Q2 FY25 YoY % H1FY26 H1FY25 YoY % FY25 Segment Net worth + NCI* 6,487 6,915 -6.2% 6,487 6,915 -6.2% 6,171 Net Revenue 124 248 -49.9% 357 474 -24.7% 878 Impairment on Financial Instruments (19) 228 N/M (231) 293 N/M 411 Employee cost 23 50 -54.4% 71 94 -24.
Slide 27: Affordable Home Loans
Affordable Home Loans Particulars (Rs Cr) Q2 FY26 Q2 FY25 YoY % H1FY26 H1FY25 YoY % FY25 Segment Net worth + NCI 780 610 27.9% 780 610 27.9% 749 Total Income 109 78 40.7% 210 171 22.6% 363 Finance cost 38 35 11.7% 75 65 15.5% 131 Net Total Income 71 43 63.9% 135 106 27.0% 232 Impairment on Financial
Slide 28: Effective Shareholding: September 30, 2025
Effective Shareholding : September 30, 2025 Effective Ownership of Name of the Subsidiary / Associate Company JM Financial Limited September 2025 JM Financial Credit Solutions Limited 100.0% JM Financial Products Limited 99.8% JM Financial Institutional Securities Limited 100.0% JM Financial Home Lo