BSE: 538834
JMJ Fintech Limited
Operates as a Non-Banking Financial Company (NBFC) based in Coimbatore, lending through a loan book that stood at Rs 7,169.35 lakhs at the end of FY26 — nearly double the Rs 4,265 lakhs a year earlier. For FY26, total income was Rs 2,199.38 lakhs (up 28% year-on-year) and net profit Rs 759.83 lakhs (up 47%). In March 2026 the company unveiled a new logo and a digital lending application called "Money bro" as part of its business expansion. It raised Rs 25.69 crore via an August 2025 rights issue, with Rs 19 crore earmarked for augmenting its NBFC capital base. Employee cost at 24.8% of revenue is the largest operating line, while finance costs doubled to Rs 323.16 lakhs in FY26 to fund loan-book growth. As of FY25, Gross NPA stood at 5.04% and capital adequacy at 80.13% CAR, and an Acuite BB (Stable) rating has been assigned to a proposed Rs 25 crore bank facility. A Rs 10 crore loan to a related NBFC, JMJ Finance Limited, was put to shareholder vote via postal ballot in March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Lending operations (NBFC). Small, growth-stage, lending-focused NBFC with a digital channel
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 4 | 7 | 17 | 22 |
| EBITDA (ex other income) | 0 | 1 | 5 | 11 | 14 |
| margin % | 8.2 | 28.0 | 65.5 | 65.7 | 62.5 |
| Owners' profit | 0 | 1 | 3 | 7 | 8 |
| EPS, as reported (₹) | 0.04 | 0.67 | 1.72 | 4.04 | 2.04 |
| ROE % · ROCE % | 0.4 · — | 6.6 · — | 18.7 · — | 29.9 · — | 13.6 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 2 | (3) | (8) | (9) | (18) |
| Capex | (0) | (0) | (0) | (1) | (4) |
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 | 4 | 4 | 4 | 6 | 5 | 6 | 5 | 5 |
| Profit before tax | 2 | 2 | 1 | 3 | 2 | 4 | 2 | 2 |
| Net profit | 2 | 2 | 1 | 3 | 1 | 3 | 2 | 2 |
| EPS (₹) | 1.47 | 1.35 | 0.79 | 0.52 | 0.89 | 2.19 | 0.85 | 0.46 |
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 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 2.1 | 18.1 | 8 of 200 | 97% |
| P/B | 0.6 | 1.1 | 74 of 253 | 71% |
| ROE | 13.6 | 3.1 | 26 of 257 | 90% |
| EBITDA margin | 61.4 | 48.6 | 106 of 249 | 58% |
| Revenue growth | (11.5) | 12.6 | 156 of 231 | 33% |
| Profit growth | (31.6) | 7.8 | 149 of 251 | 41% |
| Market cap | 35 | 34 | 134 of 268 | 50% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Postal ballot notice dispatched; voting ends November 25 | compliance | minimal | — | — |
| 26 Oct 2026 · Postal ballot on board reshuffle and higher JMJ Finance lending limit | board shareholder meetings | low | — | — |
| 26 Oct 2026 · JMJ Fintech board to approve September 2026 quarterly results | results | low | — | — |
| 22 Oct 2026 · Board approves director changes, related-party loan hike, and Rs 7 Cr NCD issue | management changes | medium | — | — |
| 22 Oct 2026 · JMJ Fintech plans Rs 7 crore secured debenture issue | fund raising | medium | — | — |
| 22 Oct 2026 · Board approves NCD issue of 7 Cr, leadership changes, related party loan hike | board shareholder meetings | low | — | — |
| 15 Oct 2026 · Board meeting on Oct 22 to consider NCD issue and director reshuffle | credit debt | medium | — | — |
| 10 Oct 2026 · JMJ Fintech corrects NCD allotment to 1,900 NCDs worth Rs 1.9 Crore | fund raising | medium | — | — |
| 10 Oct 2026 · Revised NCD allotment: 1,900 NCDs at 12-12.5% coupon raised | fund raising | medium | — | — |
| 6 Oct 2026 · Quarterly Reg 74(5) compliance certificate filed with BSE, no demat requests | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| 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 | MarketPing publishes no forecasts — your own model lives on the Models page |
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.