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Dossier · J.A. Finance Limited · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
J.A. Finance Limited BSE: 543860
Financial Services › Financial Services › Finance › Non Banking Financial Company (NBFC)
J.A. Finance Limited
StateQ4 FY26 filed
Last close · 28 Oct 2026₹145.55
Market cap₹0.2k cr
TTM P/E · P/B · EV/EBITDA285.4 · 7.51 · —
Lends money as a small non-banking financial company based in Jamshedpur. Total income for FY26 was Rs 278.70 lakhs, with a net profit of Rs 54.05 lakhs — a turnaround from a Rs 4.42 lakh loss in FY25. The largest expense is finance costs at Rs 65.11 lakhs, reflecting interest paid on borrowings used to fund the lending book; employee costs were 19.7% of revenue and other operating expenses 7.3%. The company has filed IBC recovery proceedings against Indico Motors Pvt Ltd for Rs 131.20 lakhs (Rs 100 lakhs principal plus Rs 31.20 lakhs interest), and one creditor was classified as a sub-standard NPA during Q3 FY26. Impairment on financial instruments fell to Rs 19.41 lakhs in FY26 from Rs 40.08 lakhs in FY25. Q4 FY26 net profit was Rs 16.99 lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Lending. Small, lending-focused NBFC with a concentrated loan book
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
₹ crore · standalone
FY23
FY24
FY25
FY26
Revenue
2
3
2
3
EBITDA (ex other income)
1
2
1
2
margin %
57.3
71.9
62.8
66.0
Owners' profit
0
1
(0)
1
EPS, as reported (₹)
0.38
0.95
(0.04)
0.51
ROE % · ROCE %
2.1 · 4.6
5.1 · —
(0.2) · —
2.6 · —
Debt / equity (x)
0.43
—
—
—
Cash from operations
(2)
4
(1)
3
Capex
0
0
0
0
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · J.A. Finance Limited · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Revenue
1
1
1
0
1
1
1
1
Profit before tax
0
0
0
0
0
0
(0)
0
Net profit
0
0
0
(1)
0
0
(0)
0
EPS (₹)
0.27
0.21
0.22
(0.75)
0.17
0.23
(0.05)
0.16
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
BAJAJ FINANCE LIMITED
5,70,768
28.1
4.88
—
16.5
—
25.2
70.7
SHRIRAM FINANCE LIMITED
1,94,820
14.6
2.96
—
15.2
—
22.5
74.7
CHOLAMANDALAM IN & FIN CO
1,31,798
22.8
4.33
—
17.2
—
26.5
71.2
TATA CAPITAL LIMITED
1,31,209
24.0
2.79
—
10.4
—
—
75.8
MUTHOOT FINANCE LIMITED
96,352
8.5
2.42
—
26.7
—
22.0
84.0
SBI CARDS & PAY SER LTD
50,202
22.1
3.19
—
13.8
—
—
33.1
SUNDARAM FINANCE LTD
43,766
19.6
2.94
—
13.8
—
—
78.4
AUTHUM INVEST & INFRA LTD
42,040
7.2
2.85
—
13.1
—
—
90.1
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
285.4
18.1
194 of 200
3%
P/B
7.5
1.1
244 of 253
4%
ROE
2.6
3.1
140 of 257
46%
EBITDA margin
76.0
48.6
62 of 249
75%
Revenue growth
65.5
12.6
49 of 231
79%
Profit growth
121.4
7.8
57 of 251
78%
Market cap
155
34
73 of 268
73%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · J.A. Finance Limited · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
16 Oct 2026 · Open Offer for 26 percent stake in J.A. Finance by three acquirers
strategic transactions
high
—
—
14 Oct 2026 · Independent Directors recommendations published for 26 percent open offer
strategic transactions
high
—
—
13 Oct 2026 · Independent Directors review open offer from three acquirers for 26 percent stake
strategic transactions
high
—
—
13 Oct 2026 · RTA compliance certificate for Q2 FY26 dematerialisation filed
compliance
minimal
—
—
12 Oct 2026 · Open Offer at Rs 44.82/share for 26% stake in J.A. Finance
strategic transactions
high
—
—
22 Sept 2026 · Trading window for insiders closed from Oct 1, 2026
16 Sept 2026 · J.A. Finance 33rd AGM held on 16 Sep 2026; two ordinary resolutions passed
board shareholder meetings
low
—
—
20 Aug 2026 · Newspaper publication of 33rd AGM notice submitted to BSE and CSE
compliance
minimal
—
—
19 Aug 2026 · 33rd AGM on 16 Sept 2026, Annual Report FY25-26 link sent to shareholders
compliance
minimal
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
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A rating (BUY / ADD / REDUCE / SELL)
A state: the latest filed quarter and the measured reactions
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A target price and upside
The current price and the multiples against the group
a target is a forecast; a multiple is a measurement
Estimate years marked E
More audited years; no estimates
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
