JM Financial Limited has informed the Exchange about Transcript
JMFINANCIL · price
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JM Financial reported its highest ever operating PAT of ~INR454 crores in Q1 FY26, with net worth crossing INR10,000 crores for the first time and book value at INR106.4 per share. Net revenue and pre-provisioning operating profit both grew 22% year-on-year, boosted by a net reversal of impairment of INR204 crores from strong real estate and ARC recoveries (INR1,368 crores in the last 12 months). The company reduced borrowings by INR4,300 crores in the past year while brokerage income rose 29% sequentially and fee/commission income grew 23% YoY. Strategic moves include increasing stake in JM Financial Credit Solutions to 100%, divesting 2.1% in the home loan arm to Bajaj Allianz Life Insurance, and targeting a loan book of INR5,000 crores in 2 years (INR10,000 crores by FY30) with an IPO planned for 2028-29. Wealth RMs rose 91% YoY to 174 and recurring AUM grew 37% to INR31,180 crores, while the company has an IPO pipeline of 45 transactions aggregating INR1 lakh crores.
Strong quarter with record profits and successful reduction in legacy real estate stress signals improving asset quality and execution capability. Multiple growth engines (wealth, AMC, home loans, credit syndication) are firing together, which is positive for long-term shareholder value, though near-term margins remain pressured due to upfront hiring and expansion costs.