JM Financial JMFINANCIL
Leading domestic investment bank (equity capital markets, M&A) with institutional broking, private wealth and a shrinking lending book
Mapped in 1 theme: Capital Markets.
Where JM Financial sits in the supply chain
JM Financial appears in 2 supply-chain layers in one theme, Capital Markets.
Capital Markets › Investment banks & institutional equities
OperatorOther companies in this layer
Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,724 | 3,291 | 4,786 | 4,410 | 4,223 |
| Net profit | 992 | 709 | 31 | 774 | 1,201 |
Latest-year revenue ₹4,223 Cr (FY26, company-wide).
Strengths
- Consistently near the top of Indian equity league tables
- Simplifying the group after exiting much of its wholesale lending
Risks
- SEBI's 2024 order restricting its public debt-issue lead-manager work (over a bond-IPO lapse) shows the conduct risk
- Lending-book legacy weighs on returns
Common questions
What does JM Financial do?
Leading domestic investment bank (equity capital markets, M&A) with institutional broking, private wealth and a shrinking lending book.
Where does JM Financial sit in the supply chain?
JM Financial (NSE: JMFINANCIL) is mapped in 2 supply-chain layers: Investment banks & institutional equities (Capital Markets) and Wealth managers (Capital Markets).
Who are JM Financial's peers?
In the Investment banks & institutional equities layer of Capital Markets: IIFL Capital Services, Motilal Oswal Financial Services, Nuvama Wealth Management, Equirus Capital (not NSE-listed) and Kotak Mahindra Bank.
What is JM Financial's market cap and valuation?
As of 6 Nov 2026: market cap ₹10,672 Cr, P/E 10.4x, ROCE 11.6%, ROE 11.9%, dividend yield 2.92%.