JM Financial Limited submitted an investor presentation to the stock exchanges alongside its unaudited financial results for the first quarter ended June 30, 2026 (Q1FY27).

Financial Performance Highlights

Consolidated Performance:

  • Net Revenue for Q1FY27 stood at ₹883 crore, up 13.3% from ₹779 crore in Q1FY26 and 51.2% from ₹584 crore in Q4FY26.
  • Pre-Provisioning Operating Profit (PPoP) was ₹469 crore, a growth of 20.9% YoY from ₹389 crore and 94.3% QoQ from ₹241 crore.
  • The company recorded an impairment on financial instruments (including Expected Credit Loss) of ₹13 crore in Q1FY27, compared to a write-back of ₹204 crore in Q1FY26 and a write-back of ₹2 crore in Q4FY26.
  • Profit Before Tax (PBT) was ₹456 crore, a decline of 23.1% from ₹593 crore in Q1FY26 but an increase of 87.4% from ₹243 crore in Q4FY26.
  • Profit After Tax (PAT) was ₹369 crore, down 19.4% from ₹458 crore in Q1FY26 but a significant increase from ₹159 crore in Q4FY26.
  • After accounting for a share in profit of associates (negligible in Q1FY27) and Non-Controlling Interests (NCI) of ₹77 crore, the Consolidated Net Profit was ₹292 crore. This represents a 35.7% decline from ₹454 crore in Q1FY26 but a 76.5% increase from ₹165 crore in Q4FY26.
  • Earnings Per Share (EPS) for the quarter was ₹3.0, compared to ₹4.7 in Q1FY26 and ₹1.7 in Q4FY26.
  • The annualized Consolidated Return on Equity (ROE) for the quarter was 10.9%.

Balance Sheet (as of June 30, 2026):

  • Total Business Assets were reported at ₹24,185 crore, slightly down from ₹24,490 crore as of March 31, 2026.
  • Treasury and Other Assets stood at ₹1,609 crore (March 31, 2026: ₹1,995 crore).
  • Total Assets were ₹25,794 crore (March 31, 2026: ₹26,485 crore).
  • Capital Employed was ₹11,197 crore, comprising Net Worth of ₹10,899 crore and Non-controlling Interests of ₹298 crore.
  • Borrowings were ₹10,882 crore (March 31, 2026: ₹11,522 crore).
  • The Gross Debt-to-Equity ratio was 1.0x, improved from 1.1x in the previous quarter.

Segment Performance

Private Markets:

  • This segment was the top performer. Revenue surged 53.0% YoY to ₹596 crore (Q1FY26: ₹390 crore) and more than doubled QoQ from ₹294 crore.
  • Profit After Tax (after NCI) was ₹228 crore, though it declined 17.8% YoY from ₹278 crore, it was a significant increase from ₹78 crore in Q4FY26.
  • The segment achieved strong resolutions in its distressed credit business, with total resolutions exceeding ₹2,000 crore. The group's share of the resulting cash flows was over ₹1,200 crore.
  • Disbursements during the quarter were approximately ₹831 crore, primarily in the Bespoke credit business.
  • The yield for the quarter was approximately 14%.
  • The non-core loan book (MSME and FIF) is expected to substantially run down in the next 12 months.

Corporate Advisory and Capital Markets:

  • Revenue declined 35.9% YoY to ₹138 crore (Q1FY26: ₹215 crore) and 18.9% QoQ from ₹170 crore.
  • PAT (after NCI) declined 58.9% YoY to ₹32 crore (Q1FY26: ₹77 crore) and 18.3% QoQ from ₹39 crore.
  • The segment closed 9 equity capital market transactions valued at approximately ₹22,000 crore.
  • It has a pipeline of 60 filed IPO transactions aggregating to ~₹150,000 crore, excluding the filed IPOs of Jio Platforms Limited and National Stock Exchange of India Limited.

Wealth Management:

  • Revenue was nearly flat at ₹351 crore, a slight decrease of 0.9% YoY from ₹354 crore and a 7.9% decline QoQ from ₹381 crore.
  • PAT (after NCI) declined 55.9% YoY to ₹19 crore from ₹43 crore.
  • Assets Under Management (AUM) reached ₹112,635 crore. Recurring AUM was ₹33,394 crore, up 7% YoY.
  • The loan book stood at ₹2,417 crore, up 43% YoY.
  • The sales and wealth RM headcount was 1,004.

Asset Management:

  • Revenue grew 36.3% YoY to ₹20 crore (Q1FY26: ₹15 crore).
  • The segment reported a loss of ₹5 crore, similar to the loss of ₹5 crore in Q1FY26.
  • Mutual Fund Average AUM was ₹13,205 crore (Q1FY26: ₹13,969 crore). Non-liquid AAUM was ₹10,521 crore.
  • The SIP book per month was ₹90 crore (Q1FY26: ₹120 crore).

Affordable Home Loans:

  • Revenue grew 22.1% YoY to ₹123 crore (Q1FY26: ₹100 crore).
  • PAT (after NCI) grew 15.5% YoY to ₹17 crore from ₹14 crore.
  • AUM grew 28% YoY to ₹3,715 crore (Q1FY26: ₹2,901 crore implied). Disbursements grew 87% YoY.
  • The portfolio is granular with an average ticket size of ~₹10 lakhs and an average Loan-to-Value (LTV) ratio of 59%.
  • The branch network consists of 151 branches with 2,288 employees.
  • Gross NPA was 0.75% and Net NPA was 0.50%, improved from 1.5% and 1.0% respectively in Q1FY26.
  • The Return on Assets (RoA) for the quarter was 2.3%.

Other Key Updates

  • The company highlighted its focus on high-growth, high-return businesses like Private Markets, Wealth & Asset Management, and Affordable Home Loans.
  • It emphasized a "syndication/co-invest" approach in Private Markets to improve risk-adjusted returns.
  • The company increased its payout to shareholders, with an aggregate payout of ₹5.95 per share over the last 5 quarters, a 1.6x increase over the previous two years.
  • The presentation included standard disclaimer language regarding forward-looking statements.