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Last Updated on: 19 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of JM Financial Ltd

About the Company - JM Financial Ltd

JM Financial Ltd. is a Public Limited Listed company incorporated on 30/01/1986 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L67120MH1986PLC038784 and registration number is 038784. Currently Company is involved in the business activities of Activities auxiliary to financial service activities. Company’s Total Operating Revenue is Rs. 560.55 Cr. and Equity Capital is Rs. 95.41 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance & Investments7th Floor, Cnergy, Appasaheb Marathe Marg, Mumbai Maharashtra 400025shareholdergrievance@jmfl.com
http://www.jmfl.com
Management
NamePosition Held
Mr. Nimesh KampaniNon Executive Chairman
Mr. Vishal KampaniNon Executive Vice Chairman
Mr. Atul MehraJoint Managing Director
Mr. Adi PatelJoint Managing Director
Ms. Jagi Mangat PandaIndependent Director
Mr. P S JayakumarIndependent Director
Mr. Navroz UdwadiaIndependent Director
Ms. Roshini BakshiIndependent Director
Mr. Sumit BoseIndependent Director

Basic Stock Data of JM Financial Ltd

Last Updated: June 17, 2024, 8:28 pm

Market Cap 8,000 Cr.
Current Price 83.7
High / Low115/69.0
Stock P/E121
Book Value 88.8
Dividend Yield2.39 %
ROCE10.1 %
ROE0.80 %
Face Value 1.00
PEG Ratio50.76

JM Financial Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales8018858259869629528107918599288461,0671,197
Expenses265272248362355323258276279313459473535
Operating Profit536613577624607629552515580615387594663
OPM %67%69%70%63%63%66%68%65%67%66%46%56%55%
Other Income3616771330141819261417
Interest289278271261287283250261270301347366388
Depreciation10101099910101010121213
Profit before tax24033131236031734932225931832254230278
Tax %23%24%25%24%28%25%29%24%25%25%40%24%26%
Net Profit18425123427522826122819823824032177206
EPS in Rs1.461.901.852.131.832.271.871.781.891.990.601.742.04

Last Updated: June 14, 2024, 6:43 pm

JM Financial Ltd Quarterly Chart

JM Financial Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales8641,0421,0071,3421,6852,3593,0623,4943,4463,2113,7243,2924,346
Expenses3833994024484595827677439331,0091,2961,1701,896
Operating Profit4826436058951,2251,7772,2952,7512,5132,2022,4292,1222,449
OPM %56%62%60%67%73%75%75%79%73%69%65%64%56%
Other Income9-0-161-0-0356815395182
Interest2963773084205127821,1391,4461,3861,1111,0821,1791,501
Depreciation11121518202326274140384251
Profit before tax1832542805176939721,1651,2831,0941,0671,348953979
Tax %33%30%29%30%32%34%33%35%29%24%26%26%
Net Profit131199225379526649785837778808992709737
EPS in Rs2.432.774.225.085.927.176.816.486.198.106.267.29
Dividend Payout %37%37%36%32%29%25%25%15%3%8%20%43%

JM Financial Ltd Profit & Loss Yearly Chart

JM Financial Ltd Growth

Compounded Sales Growth
10 Years:12%
5 Years:1%
3 Years:-2%
TTM:28%
Compounded Profit Growth
10 Years:13%
5 Years:0%
3 Years:3%
TTM:-7%
Stock Price CAGR
10 Years:11%
5 Years:0%
3 Years:2%
1 Year:37%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:9%
Last Year:8%

Last Updated: May 2, 2024, 9:03 am

JM Financial Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital75757678797984848495959596
Reserves1,8641,9752,1112,4652,8313,2404,4715,0485,5556,9057,5918,0418,321
Borrowings3,2024,1972,9884,7236,6729,44414,98813,99111,75612,40513,49815,93917,031
Other Liabilities5646797561,2391,4803,7822,6643,5173,3513,9734,4775,1376,025
Total Liabilities5,7056,9275,9308,50511,06116,54522,20622,64020,74623,37825,66129,21331,471
Fixed Assets104101228445444474427424450423414505547
CWIP00121231113712
Investments5705684956407722,1562,3882,9334,0145,8023,6393,5844,167
Other Assets5,0306,2585,2077,4189,84413,91319,38819,28216,28017,15321,60525,11626,745
Total Assets5,7056,9275,9308,50511,06116,54522,20622,64020,74623,37825,66129,21331,471

JM Financial Ltd Reserves and Borrowings Chart

JM Financial Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 376-4021,058-1,717-918-2,546-3,5847733,164969-3,458-2,449
Cash from Investing Activity 185167585-281264-326-708-148-901-2,2492,614-443
Cash from Financing Activity -496256-1,5941,7831,3052,4244,540-522-2,2051,2961,2812,153
Net Cash Flow662148-215651-4482471035816437-739

JM Financial Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days676371627718210272345849135
Inventory Days
Days Payable
Cash Conversion Cycle676371627718210272345849135
Working Capital Days1,1761,072678752601588268295235288230411
ROCE %9%11%10%14%13%15%13%13%12%10%11%8%

JM Financial Ltd Financial Efficiency Indicators Chart

JM Financial Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters54.75%54.81%55.27%55.42%55.41%56.02%56.02%56.49%56.48%56.47%56.44%56.44%
FIIs21.75%21.74%21.41%21.83%21.13%22.12%22.14%21.24%20.72%18.82%17.92%18.19%
DIIs11.80%10.45%9.72%8.78%8.79%8.30%7.35%7.47%7.61%8.06%8.46%8.46%
Public11.71%13.00%13.60%13.97%14.67%13.57%14.49%14.80%15.19%16.66%17.17%16.91%
No. of Shareholders69,79192,69195,17299,22999,90398,30197,86596,9361,06,9891,19,3011,35,1031,58,446

JM Financial Ltd Shareholding Pattern Chart

No. of JM Financial Ltd Shareholders

JM Financial Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Value Discovery Fund12,040,5040.398.4312,040,5042024-06-170%
Quant Small Cap Fund10,969,1610.9489.6712,040,5042024-06-17-8.9%
ICICI Prudential Bluechip Fund10,759,4940.2187.9612,040,5042024-06-17-10.64%
ICICI Prudential Multicap Fund7,743,5310.7263.312,040,5042024-06-17-35.69%
ICICI Prudential Infrastructure Fund7,663,3781.8762.6512,040,5042024-06-17-36.35%
Axis Small Cap Fund7,349,9620.3760.0912,040,5042024-06-17-38.96%
Nippon India Small Cap Fund6,545,9360.1453.5112,040,5042024-06-17-45.63%
Aditya Birla Sun Life Banking And Financial Services Fund2,536,5970.7420.7412,040,5042024-06-17-78.93%
ICICI Prudential Banking and Financial Services2,074,6060.2516.9612,040,5042024-06-17-82.77%
Quant BFSI Fund1,845,0007.7615.0812,040,5042024-06-17-84.68%

JM Financial Ltd ROCE Trend

JM Financial Ltd EPS Trend

JM Financial Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)6.268.116.346.486.82
Diluted EPS (Rs.)6.258.096.326.456.79
Cash EPS (Rs.)7.8610.808.889.7310.28
Book Value[Excl.RevalReserv]/Share (Rs.)118.03111.37101.5696.7092.47
Book Value[Incl.RevalReserv]/Share (Rs.)118.03111.37101.5696.7092.47
Revenue From Operations / Share (Rs.)34.2038.8533.5640.8041.42
PBDIT / Share (Rs.)22.7625.8623.2829.9632.81
PBIT / Share (Rs.)22.3225.4722.8629.4732.49
PBT / Share (Rs.)9.9814.1311.2013.0015.27
Net Profit / Share (Rs.)7.4210.408.469.249.96
NP After MI And SOA / Share (Rs.)6.268.106.196.486.81
PBDIT Margin (%)66.5566.5669.3573.4379.21
PBIT Margin (%)65.2765.5468.1072.2478.43
PBT Margin (%)29.1736.3633.3631.8636.87
Net Profit Margin (%)21.7026.7625.2022.6524.04
NP After MI And SOA Margin (%)18.2920.8518.4515.8716.44
Return on Networth / Equity (%)7.3410.058.439.6611.14
Return on Capital Employeed (%)9.8722.0311.9015.0115.49
Return On Assets (%)2.032.992.522.622.52
Long Term Debt / Equity (X)1.230.001.211.461.89
Total Debt / Equity (X)1.951.751.772.082.73
Asset Turnover Ratio (%)0.020.040.020.020.01
Current Ratio (X)3.591.684.454.714.36
Quick Ratio (X)3.581.684.454.714.36
Dividend Payout Ratio (NP) (%)32.7612.332.857.7023.46
Dividend Payout Ratio (CP) (%)30.6111.752.677.1622.40
Earning Retention Ratio (%)67.2487.6797.1592.3076.54
Cash Earning Retention Ratio (%)69.3988.2597.3392.8477.60
Interest Coverage Ratio (X)1.842.282.001.821.91
Interest Coverage Ratio (Post Tax) (X)1.601.921.731.561.58
Enterprise Value (Cr.)22305.2620291.8121020.0318335.0523234.18
EV / Net Operating Revenue (X)6.835.476.575.346.68
EV / EBITDA (X)10.268.229.487.278.43
MarketCap / Net Operating Revenue (X)1.741.742.521.582.27
Retention Ratios (%)67.2387.6697.1492.2976.53
Price / BV (X)0.690.831.150.951.54
Price / Net Operating Revenue (X)1.741.742.521.582.27
EarningsYield0.100.110.070.100.07

JM Financial Ltd Profitability Ratios (%)

JM Financial Ltd Liquidity Ratios

JM Financial Ltd Liquidity Ratios (%)

JM Financial Ltd Interest Coverage Ratios (%)

JM Financial Ltd Valuation Ratios

Fair Value

Fair Value: 88.01

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 5.15% compared to the current price 83.7

Intrinsic Value: 90.11

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 7.66% compared to the current price ₹83.7

Last 5 Year EPS CAGR: 2.38%

*Investments are subject to market risks

Strength and Weakness of JM Financial Ltd Stock

StrengthWeakness
  1. The company has shown consistent growth in sales (68.62 cr) and profit (372.00 cr) over the years.
  1. The stock has a low average ROCE of 11.58%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 362.33, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 81.00, which may not be favorable.
  4. The company has higher borrowings (10,064.15) compared to reserves (4,647.54), which may suggest financial risk.

FAQ

What is the latest fair value of JM Financial Ltd?

The latest fair value of JM Financial Ltd is ₹88.01.

What is the Market Cap of JM Financial Ltd?

The Market Cap of JM Financial Ltd is 8,000 Cr..

What is the current Stock Price of JM Financial Ltd as on 19 June 2024?

The current stock price of JM Financial Ltd as on 19 June 2024 is ₹83.7.

What is the High / Low of JM Financial Ltd stocks in FY 2024?

In FY 2024, the High / Low of JM Financial Ltd stocks is 115/69.0.

What is the Stock P/E of JM Financial Ltd?

The Stock P/E of JM Financial Ltd is 121.

What is the Book Value of JM Financial Ltd?

The Book Value of JM Financial Ltd is 88.8.

What is the Dividend Yield of JM Financial Ltd?

The Dividend Yield of JM Financial Ltd is 2.39 %.

What is the ROCE of JM Financial Ltd?

The ROCE of JM Financial Ltd is 10.1 %.

What is the ROE of JM Financial Ltd?

The ROE of JM Financial Ltd is 0.80 %.

What is the Face Value of JM Financial Ltd?

The Face Value of JM Financial Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in JM Financial Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE