Jm Financial Limited · NSE:JMFINANCIL
Jm Financial — Q4 FY26 Earnings Presentation
30 slides from Jm Financial's earnings presentation, May 29, 2026
Slide 1: Exchange covering letter for investor presentation
May 29, 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: 5234
Slide 2: JM Financial Limited – Q4FY26 Results Update
JM Financial Limited – Q4FY26 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: Focus on High Growth and High RoE Businesses
JM Financial : Focus on High Growth and High RoE Businesses ✓ Leadership; Best in class relationships Corporate Advisory and Capital Markets ✓ Strong sticky repeat business Investment Banking, Institutional Equities ✓ Highest ever client addition ; #1 in IPO in FY26* ✓ Expanding wallet share of clie
Slide 7: Strong Financial Performance – Highest ever annual consolidated PAT
Strong Financial Performance – Highest ever annual consolidated PAT FY26 (Rs Cr) YoY (Change) Fees, Commission and Brokerage 1,753 10% Consolidated PAT 1,202 46% Operating PAT^ 1,133 38% Networth 10,605 10% Dividend per share (Rs)* 3.25 20% ^ PAT for FY26 adjusted for receipt of interest on income t
Slide 8: Strong growth across business segments
Strong growth across business segments FY26 (Rs Cr) YoY (Change) Wealth - (RMs and Sales Employee Count) 1,046 30% (240) Wealth – Branches 72 10 Wealth - Recurring AUM (Rs. Cr) 30,838 10% MF – Non Liquid AAUM (Rs. Cr) 11,475 31% Affordable Home Loans AUM (Rs. Cr) 3,460 22% ~Rs.1,40,000 crore across
Slide 9: Summary Consolidated Profit & Loss Statement
Summary Consolidated Profit & Loss Statement Particulars (Rs Cr) Q4 FY26 Q4 FY25 YoY % FY26^ FY25 YoY % Net Revenue 584 665 -12.2% 2,749 2,805 -2.0% Employee cost 200 220 -9.2% 1,054 963 9.4% Operating expenses 143 128 12.2% 443 420 5.6% Pre Provisioning profit (PPoP) 241 318 -24.1% 1,252 1,422 -11.
Slide 10: Summary Consolidated Balance Sheet
Summary Consolidated Balance Sheet Sr. No. Particulars (Rs Cr) March 31, 2026 March 31, 2025 A Assets 1 Business assets* 24,490 22,182 2 Treasury and other assets** 1,995 2,270 TOTAL (1+2) 26,485 24,452 B Equity and Liabilities 1 Capital Employed 10,898 10,088 - Net Worth 10,605 9,675 - Non-controll
Slide 11: Key Parameters
Key Parameters FY26 FY24-26 CAGR Particulars (Rs Cr) Capital % Effective Loan Book/ Revenue PAT* Revenue PAT Employed Holding AUM** Corp Advisory and Capital Markets 829 946 347 100% - 26.4% 19.6% Private Markets# 6,578 1,298 552 96.7%^ 17,574 -32.1%@ N/M Wealth Management 1,157 1,403 132 100% 1,08,
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 Q4FY26 Highlights ➢ M&A and ➢ Expand the depth and ➢ Escalating geopolitical tensions and market Promoters Restructuring advisory breadth of the client base volatility has pushed out equity and M&A practice transa
Slide 14: Private Markets
Private Markets Clients Products / Services Business Priorities Q4FY26 Highlights Corporates ➢ Private Credit ➢ Deliver on franchise enhancing ➢ Investment portfolio impacted by market volatility (Corporate, Bespoke, syndication along with Distressed and Real consistent risk management ➢ Balance she
Slide 15: Private Markets
Private Markets Standard Loans (Rs. Cr) Loan Book ➢ Yield for Q4FY26 : 13.9% 4,788 4,923 538 4,010 ➢ Disbursements at Rs. 681 crore (primarily in Bespoke) during the quarter 745 3,878 3,725 1,444 391 297 228 1,982 1,236 1,009 1,097 ➢ Strong repayments and pre-payments 2,941 2,419 2,685 2,061 2,251 ➢
Slide 16: Wealth Management
Wealth Management Clients Products / Services Business Priorities Q4FY26 Highlights ➢ Despite market volatility, revenue growth of 12% UHNI / HNI ➢ Distribution ➢ Focus on improving YoY and PAT growth of 9% YoY for Q4FY26 productivity ➢ Securities Broking ➢ Sales and wealth RMs headcount has increas
Slide 17: Wealth Management
Wealth Management Wealth RMs Sales Employees Branch Network Franchisee Network 211 72 874 24% 10 835 61% (160) 62 22 (80) 675 852 131 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Total Wealth AUM* (Rs. Cr) Recurring AUM [ex. Loans] (Rs. Cr) Loans (Rs. Cr) Cash market share (%) 30,838 2,02
Slide 18: Asset Management
Asset Management Clients Products / Services Business Priorities Q4FY26 Highlights ➢ Geopolitical tensions and market volatility has ➢ Mutual Fund ➢ Further building scale and UHNI / HNI impacted Q4FY26 AUM engagement Mass Affluent ➢ Equity and Debt AIFs ➢ MF Average AUM : Rs. 13,219 Cr (Q4FY25: Rs.
Slide 19: Asset Management
Asset Management MF AAUM (Rs. Cr) MF Management Fees (Rs. Cr) Equity MF Yields (%) 13,831 13,219 44 28% 0.37% 65% 0.29% 9,911 27 10,139 414 385 3,506 2,695 Q4FY25 Q4FY26 FY25 FY26 FY25 FY26 Equity Debt Others (Liquid) Folios 9.0 8.8 (lakhs) SIP Book per month (Rs. Cr) Active Partners # Employees 6,1
Slide 20: Affordable Home Loans
Affordable Home Loans Clients Products / Services Business Priorities Q4FY26 Highlights ➢ AUM : Rs. 3,460 Cr (Rs. 2,832 Cr in Q4FY25), up by Retail – Salaried ➢ Home Loans ➢ Build Scale 22% YoY ➢ Loan Against Property ➢ Increase Productivity ➢ Portfolio assigned : Rs. 148 Cr Retail – Self Employed ➢
Slide 21: Affordable Home Loans
Affordable Home Loans AUM (Rs. Cr) Disbursement (Rs. Cr) Split of branches (151) - 9 States (%) On-book % 87% 79% (Full Year) 1,020 1,173 4% 4% 1% 3,460 447 13% 6% 22% 394 10% 29% 2,832 11% 22% 13% Q4FY25 Q4FY26 Q4FY25 Q4FY26 GUJARAT MAHARASHTRA TAMIL NADU Strategic shift to lower ticket size TELANG
Slide 22: Affordable Home Loans – Five year track record
Affordable Home Loans – Five year track record Branches and Employees Disbursements (Rs Cr) AUM (Rs Cr) ATS Employees 530 870 1,313 1,844 2,106 14.0 14.7 11.9 10.8 11.0 (lakhs) 3,460 151 1,185 1,173 FY22-26 CAGR: 38% FY22-26 CAGR: 29% 1,020 2,832 128 887 2,256 112 93 1,522 510 55 942 Branches FY22 F
Slide 23: Segment Performance
Segment Performance Segment Revenue (Rs Cr) Q4 FY26 Q4 FY25 YoY % FY26^ FY25 YoY % FY24* FY24-26 CAGR Corporate Advisory and Capital Markets 170 218 -21.9% 946 788 20.1% 592 26.4% Private Markets 294 327 -10.1% 1,298 1,834 -29.2% 2,819 -32.1% Wealth Management* 381 339 12.3% 1,403 1,317 6.6% 1,022 1
Slide 24: Corporate Advisory & Capital Markets
Corporate Advisory & Capital Markets FY24-26 Particulars (Rs Cr) Q4 FY26 Q4 FY25 YoY % FY26 FY25 YoY % FY24* CAGR Segment Net worth + NCI 829 638 30.0% 829 638 30.0% 340 56.3% Net Revenue 119 199 -40.1% 789 713 10.7% 530 22.0% Employee cost 47 47 -0.1% 265 235 12.9% 165 26.8% Operating expenses 20 2
Slide 25: Private Markets
Private Markets Particulars (Rs Cr) Q4 FY26 Q4 FY25 YoY % FY26 FY25 YoY % FY24* Segment Net worth + NCI** 6,578 6,171 6.6% 6,578 6,171 6.6% 6,538 Net Revenue# 154 144 7.1% 682 878 -22.4% 715 Impairment on Financial Instruments (3) 10 N/M (258) 411 N/M 641 Employee cost 8 19 -60.4% 108 144 -24.8% 177
Slide 26: Wealth and Asset Management
Wealth and Asset Management FY24-26 Particulars (Rs Cr) Q4 FY26 Q4 FY25 YoY % FY26 FY25 YoY % FY24* CAGR Segment Net worth + NCI 1,267 1,187 6.7% 1,267 1,187 6.7% 1,052 9.7% Net Revenue 210 198 6.0% 827 752 10.0% 587 18.7% Impairment on Financial Instruments 1 (7) N/M 4 1 N/M (1) N/M Employee cost 9
Slide 27: Affordable Home Loans
Affordable Home Loans FY24-26 Particulars (Rs Cr) Q4 FY26 Q4 FY25 YoY % FY26 FY25 YoY % FY24* CAGR Segment Net worth + NCI 833 749 11.2% 833 749 11.2% 580 19.8% Total Income 128 100 28.1% 455 363 25.2% 243 37.0% Finance cost 40 35 15.2% 153 131 16.8% 93 28.6% Net Total Income 88 65 34.9% 302 232 30.
Slide 28: Section 3: Annexure
Section : 3 Annexure A JM Financial 2
Slide 29: Effective Shareholding: March 31, 2026
Effective Shareholding : March 31, 2026 Effective Ownership of Name of the Subsidiary / Associate Company JM Financial Limited March 2026 JM Financial Credit Solutions Limited 100.0% JM Financial Products Limited 99.8% JM Financial Institutional Securities Limited 100.0% JM Financial Home Loans Limi
Slide 30: JM Financial Home Loans – RoA Analysis
JM Financial Home Loans – RoA Analysis* Particulars (Rs Cr) FY25 FY26 Total Income 15.5% 16.4% Finance cost 5.5% 5.5% Net Total Income 10.0% 10.9% Operating expenses 6.1% 6.7% Impairment on Financial Instruments 0.6% 0.6% PBT 3.3% 3.5% Tax expense 0.8% 0.8% ROA 2.5% 2.7% * Above analysis is based on