BSE:523405

Stock Analysis Report

Executive Summary

JM Financial Limited provides a range of financial products and services to corporations, financial institutions, high net-worth individuals, and retail investors in India.

Snowflake

Fundamentals

High growth potential and fair value.


Similar Companies

Share Price & News

How has JM Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.5%

523405

5.2%

IN Capital Markets

3.9%

IN Market


1 Year Return

0.8%

523405

-24.6%

IN Capital Markets

6.0%

IN Market

Return vs Industry: 523405 exceeded the Indian Capital Markets industry which returned -24.6% over the past year.

Return vs Market: 523405 underperformed the Indian Market which returned 6% over the past year.


Shareholder returns

523405IndustryMarket
7 Day1.5%5.2%3.9%
30 Day2.9%-0.4%7.8%
90 Day4.8%-13.8%2.5%
1 Year2.0%0.8%-23.3%-24.6%8.2%6.0%
3 Year-6.9%-10.6%-19.0%-21.8%23.0%16.7%
5 Year95.2%76.1%9.8%3.3%43.5%30.0%

Price Volatility Vs. Market

How volatile is JM Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is JM Financial undervalued compared to its fair value and its price relative to the market?

10.91x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: 523405 (₹72.3) is trading above our estimate of fair value (₹47.59)

Significantly Undervalued: 523405 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 523405 is good value based on its PE Ratio (10.9x) compared to the Capital Markets industry average (13.5x).

PE vs Market: 523405 is good value based on its PE Ratio (10.9x) compared to the Indian market (13.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: 523405 is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: 523405 is overvalued based on its PB Ratio (1.2x) compared to the IN Capital Markets industry average (0.5x).


Next Steps

Future Growth

How is JM Financial forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

33.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 523405's forecast earnings growth (33.1% per year) is above the savings rate (7.6%).

Earnings vs Market: 523405's earnings (33.1% per year) are forecast to grow faster than the Indian market (18.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 523405's revenue (39.2% per year) is forecast to grow faster than the Indian market (11.3% per year).

High Growth Revenue: 523405's revenue (39.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if 523405's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has JM Financial performed over the past 5 years?

18.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 523405's earnings have grown by 18% per year over the past 5 years.

Accelerating Growth: 523405's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 523405 had negative earnings growth (-13.9%) over the past year, making it difficult to compare to the Capital Markets industry average (-17.8%).


Return on Equity

High ROE: 523405's Return on Equity (10.7%) is considered low.


Return on Assets

ROA vs Industry: 523405's Return on Assets is below or equal to the Capital Markets industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate 523405's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is JM Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: 523405 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 523405's debt is covered by short term assets (assets are 1.392070x debt).


Financial Institutions Analysis

Asset Level: 523405's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if 523405 has a sufficient allowance for bad loans.

Low Risk Liabilities: 523405 reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if 523405 has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 523405 has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if 523405 has an appropriate level of bad loans.


Next Steps

Dividend

What is JM Financial's current dividend yield, its reliability and sustainability?

1.38%

Current Dividend Yield


Dividend Yield vs Market

company1.4%marketbottom25%0.6%markettop25%2.4%industryaverage2.2%forecastin3Years2.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 523405's dividend (1.38%) is higher than the bottom 25% of dividend payers in the Indian market (0.6%).

High Dividend: 523405's dividend (1.38%) is low compared to the top 25% of dividend payers in the Indian market (2.42%).

Stable Dividend: 523405's dividend payments have been volatile in the past 10 years.

Growing Dividend: 523405's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (15.1%), 523405's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of JM Financial's salary, the management and board of directors tenure and is there insider trading?

8.3yrs

Average board tenure


CEO

Vishal Kampani 0

3yrs

Tenure

₹17,215,661

Compensation

Mr. Vishal N. Kampani serves as an Additional Director of JM Financial Home Loans Limited. Mr. Kampani has been Group Managing Director at JM Financial Ltd since August 2018 and served as its Managing Dire ...


CEO Compensation Analysis

Compensation vs. Market: Vishal's total compensation ($USD242.21K) is about average for companies of similar size in the Indian market ($USD364.54K).

Compensation vs Earnings: Vishal's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Board Age and Tenure

8.3yrs

Average Tenure

74yo

Average Age

Experienced Board: 523405's board of directors are considered experienced (8.3 years average tenure).


Insider Trading

Insider Buying: 523405 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Sell₹82,94030 Sep 19
Bhanu Katoch
EntityIndividual
Shares1,000
Max Price₹82.94
Buy₹1,755,18827 Aug 19
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares25,000
Max Price₹71.71
Buy₹1,307,65606 Aug 19
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares20,000
Max Price₹65.38
Buy₹1,975,99602 Aug 19
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares30,000
Max Price₹65.87
Sell₹797,40027 Jun 19
Bhanu Katoch
EntityIndividual
Shares10,000
Max Price₹79.74
Sell₹839,49925 Jun 19
Bhanu Katoch
EntityIndividual
Shares10,000
Max Price₹83.95
Sell₹2,025,77325 Jun 19
Nikhil Chandak
EntityIndividual
Shares25,000
Max Price₹81.03
Sell₹819,71121 Jun 19
Bhanu Katoch
EntityIndividual
Shares10,000
Max Price₹81.97
Sell₹1,690,70220 Jun 19
Bhanu Katoch
EntityIndividual
Shares20,000
Max Price₹87.13
Sell₹1,781,78213 Jun 19
Bhanu Katoch
EntityIndividual
Shares20,000
Max Price₹89.73
Sell₹5,894,50003 Jun 19
Nikhil Chandak
EntityIndividual
Shares64,340
Max Price₹91.61
Sell₹954,30031 May 19
Bhanu Katoch
EntityIndividual
Shares10,000
Max Price₹95.43
Sell₹939,66231 May 19
Bhanu Katoch
EntityIndividual
Shares10,000
Max Price₹93.97
Sell₹1,348,66529 May 19
Vatsal Neelakantan
EntityIndividual
Shares15,000
Max Price₹89.91
Sell₹1,349,97529 May 19
Kshitij Neelakantan
EntityIndividual
Shares15,000
Max Price₹90.00
Sell₹899,66329 May 19
Dipti Neelakantan
EntityIndividual
Shares10,000
Max Price₹89.97
Buy₹186,55429 May 19
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares2,094
Max Price₹89.09
Sell₹2,665,91127 May 19
Bhanu Katoch
EntityIndividual
Shares30,000
Max Price₹89.59
Sell₹2,555,89927 May 19
Dipti Neelakantan
EntityIndividual
Shares29,000
Max Price₹88.55
Sell₹2,985,83927 May 19
Vatsal Neelakantan
EntityIndividual
Shares34,000
Max Price₹88.64
Sell₹2,831,90627 May 19
Kshitij Neelakantan
EntityIndividual
Shares32,012
Max Price₹88.48
Buy₹6,417,81427 May 19
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares72,906
Max Price₹88.03
Buy₹17,868,88627 May 19
Karan Uberoi
EntityIndividual
Shares200,000
Max Price₹90.05
Sell₹932,92923 May 19
Bhanu Katoch
EntityIndividual
Shares11,000
Max Price₹86.01
Sell₹2,562,80921 May 19
Bhanu Katoch
EntityIndividual
Shares30,000
Max Price₹85.43
Sell₹816,55016 May 19
Bhanu Katoch
EntityIndividual
Shares10,000
Max Price₹81.66
Sell₹1,197,99215 May 19
Bhanu Katoch
EntityIndividual
Shares15,000
Max Price₹79.94
Sell₹809,92913 May 19
Bhanu Katoch
EntityIndividual
Shares10,000
Max Price₹80.99
Sell₹169,88013 May 19
Dipti Neelakantan
EntityIndividual
Shares2,000
Max Price₹84.94
Sell₹494,73310 May 19
Bhanu Katoch
EntityIndividual
Shares6,000
Max Price₹82.46
Sell₹1,189,14409 May 19
Bhanu Katoch
EntityIndividual
Shares14,000
Max Price₹85.53
Sell₹1,371,77803 Apr 19
Bhanu Katoch
EntityIndividual
Shares15,000
Max Price₹92.15
Sell₹94,93003 Apr 19
Vatsal Neelakantan
EntityIndividual
Shares1,000
Max Price₹94.93
Sell₹94,93003 Apr 19
Kshitij Neelakantan
EntityIndividual
Shares1,000
Max Price₹94.93
Sell₹94,93003 Apr 19
Dipti Neelakantan
EntityIndividual
Shares1,000
Max Price₹94.93
Sell₹285,29001 Apr 19
Kshitij Neelakantan
EntityIndividual
Shares3,000
Max Price₹95.10
Sell₹190,11001 Apr 19
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹95.05
Sell₹308,88601 Apr 19
Dipti Neelakantan
EntityIndividual
Shares3,252
Max Price₹94.98
Sell₹285,19001 Apr 19
Vatsal Neelakantan
EntityIndividual
Shares3,000
Max Price₹95.06
Sell₹1,057,33829 Mar 19
Kshitij Neelakantan
EntityIndividual
Shares3,000
Max Price₹868.55
Sell₹1,646,17229 Mar 19
Bhanu Katoch
EntityIndividual
Shares18,000
Max Price₹94.93
Sell₹258,30129 Mar 19
Dipti Neelakantan
EntityIndividual
Shares2,748
Max Price₹94.54
Sell₹281,83329 Mar 19
Vatsal Neelakantan
EntityIndividual
Shares3,000
Max Price₹94.40
Sell₹693,23527 Mar 19
Bhanu Katoch
EntityIndividual
Shares8,000
Max Price₹88.94
Sell₹562,58622 Mar 19
Kshitij Neelakantan
EntityIndividual
Shares6,000
Max Price₹93.93
Sell₹1,865,85422 Mar 19
Bhanu Katoch
EntityIndividual
Shares20,000
Max Price₹93.93
Sell₹562,34622 Mar 19
Dipti Neelakantan
EntityIndividual
Shares6,000
Max Price₹93.87
Sell₹562,65622 Mar 19
Vatsal Neelakantan
EntityIndividual
Shares6,000
Max Price₹93.95
Sell₹182,88019 Mar 19
Kshitij Neelakantan
EntityIndividual
Shares2,000
Max Price₹91.44
Sell₹182,88019 Mar 19
Vatsal Neelakantan
EntityIndividual
Shares2,000
Max Price₹91.44
Sell₹182,88019 Mar 19
Dipti Neelakantan
EntityIndividual
Shares2,000
Max Price₹91.44
Sell₹1,154,64915 Mar 19
Bhanu Katoch
EntityIndividual
Shares13,500
Max Price₹87.58
Sell₹1,107,28713 Mar 19
Bhanu Katoch
EntityIndividual
Shares13,000
Max Price₹85.96
Sell₹589,25208 Mar 19
Bhanu Katoch
EntityIndividual
Shares6,500
Max Price₹90.65
Sell₹1,149,99807 Mar 19
Bhanu Katoch
EntityIndividual
Shares13,500
Max Price₹86.97
Sell₹301,90901 Mar 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹75.48
Sell₹303,99027 Feb 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹76.00
Sell₹300,93621 Feb 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹75.23
Buy₹835,05221 Feb 19
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares10,959
Max Price₹76.20
Buy₹2,926,42520 Feb 19
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares39,041
Max Price₹74.96
Sell₹296,51420 Feb 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹74.13
Sell₹303,82418 Feb 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹75.96
Sell₹150,45613 Feb 19
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹75.23
Sell₹150,91908 Feb 19
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹75.46
Sell₹312,19405 Feb 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹79.88
Sell₹359,56009 Jan 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹90.19
Sell₹180,48103 Jan 19
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹90.24
Sell₹3,737,75002 Jan 19
Anil Bhatia
EntityIndividual
Shares40,799
Max Price₹91.61
Sell₹93,93002 Jan 19
Dipti Neelakantan
EntityIndividual
Shares1,000
Max Price₹93.93
Sell₹365,80501 Jan 19
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹92.97
Sell₹549,33301 Jan 19
Dipti Neelakantan
EntityIndividual
Shares6,000
Max Price₹92.60
Sell₹174,07527 Dec 18
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹87.04
Sell₹348,86824 Dec 18
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹90.94
Sell₹165,61312 Dec 18
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹82.81
Buy₹4,280,35807 Dec 18
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares50,000
Max Price₹85.61
Sell₹345,36405 Dec 18
Bhanu Katoch
EntityIndividual
Shares4,000
Max Price₹86.64
Sell₹170,88029 Nov 18
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹85.44
Sell₹172,23627 Nov 18
Bhanu Katoch
EntityIndividual
Shares2,000
Max Price₹86.12
Sell₹88,94026 Nov 18
Dipti Neelakantan
EntityIndividual
Shares1,000
Max Price₹88.94
Buy₹13,268,70326 Nov 18
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares150,000
Max Price₹88.46
Buy₹4,254,19322 Nov 18
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares50,000
Max Price₹85.11
Buy₹1,025,24019 Nov 18
Gunjan Singhal
EntityIndividual
Shares12,000
Max Price₹86.43
Buy₹4,300,95919 Nov 18
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares50,000
Max Price₹86.02
Sell₹161,88016 Nov 18
Dipti Neelakantan
EntityIndividual
Shares2,000
Max Price₹80.94
Buy₹12,011,21415 Nov 18
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares150,000
Max Price₹80.07
Buy₹11,620,72814 Nov 18
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares150,000
Max Price₹77.70
Sell₹116,98612 Nov 18
Dipti Neelakantan
EntityIndividual
Shares1,500
Max Price₹78.44
Buy₹11,783,59312 Nov 18
Vishal Kampani
EntityIndividual
Role
Chief Executive Officer
Group MD & Director
Shares150,000
Max Price₹78.56
Sell₹39,47005 Nov 18
Dipti Neelakantan
EntityIndividual
Shares500
Max Price₹78.94
Buy₹361,33301 Nov 18
Gunjan Singhal
EntityIndividual
Shares5,000
Max Price₹73.54
Sell₹76,45001 Nov 18
Dipti Neelakantan
EntityIndividual
Shares1,000
Max Price₹76.45
Buy₹34,90930 Oct 18
Sandeep Dongre
EntityIndividual
Shares500
Max Price₹69.82

Ownership Breakdown


Management Team

  • Manish Sheth

    Group CFO and MD & CEO of Home Loans

    • Tenure: 0yrs
    • Compensation: ₹3.62m
  • Prashant Choksi

    Group Head of Compliance

    • Tenure: 0yrs
  • Vishal Kampani

    Group MD & Director

    • Tenure: 3yrs
    • Compensation: ₹17.22m
  • Atul Mehra (52yo)

    MD & Co-CEO of Investment Banking Business

    • Tenure: 0yrs
  • Adi Patel

    MD & Co-CEO of Investment Banking

    • Tenure: 0yrs
  • Sonia Dasgupta

    MD & Head Of Financial Institutions Group

    • Tenure: 0yrs
  • Greg Terry

    Executive Vice Chairman - Asia Pacific Ex-India

    • Tenure: 0yrs
  • Shashwat Belapurkar

    MD & CEO of Credit Solutions

    • Tenure: 0yrs
  • Ajay Mishra

    MD & Head of Wealth Group

    • Tenure: 0yrs
  • Anil Salvi

    Group Head of Human Resources & Administration and CEO of RE Consulting

    • Tenure: 0yrs

Board Members

  • Keki Dadiseth (74yo)

    Non Executive & Independent Director

    • Tenure: 7yrs
    • Compensation: ₹2.42m
  • Jagi Panda (53yo)

    Non Executive & Independent Director

    • Tenure: 4.6yrs
    • Compensation: ₹2.43m
  • Eknath Kshirsagar (78yo)

    Non Executive & Independent Director

    • Tenure: 15.4yrs
    • Compensation: ₹3.02m
  • Nimesh Kampani (73yo)

    Group Chairman

    • Tenure: 3.1yrs
    • Compensation: ₹755.00k
  • Darius Udwadia (80yo)

    Non-Executive & Independent Director

    • Tenure: 13.3yrs
    • Compensation: ₹2.88m
  • Vijay Kelkar (77yo)

    Non Executive & Independent Director

    • Tenure: 9.6yrs
    • Compensation: ₹3.08m
  • Paul Zuckerman (74yo)

    Non Executive & Independent Director

    • Tenure: 12yrs
    • Compensation: ₹2.84m
  • Vishal Kampani

    Group MD & Director

    • Tenure: 3yrs
    • Compensation: ₹17.22m

Company Information

JM Financial Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: JM Financial Limited
  • Ticker: 523405
  • Exchange: BSE
  • Founded: 1973
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Market Cap: ₹60.809b
  • Shares outstanding: 841.07m
  • Website: https://www.jmfl.com

Number of Employees


Location

  • JM Financial Limited
  • Cnergy
  • 7th Floor
  • Mumbai
  • Maharashtra
  • 400025
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
523405BSE (Mumbai Stock Exchange)YesEquity SharesININRJan 2002
JMFINANCILNSEI (National Stock Exchange of India)YesEquity SharesININRJan 2002

Biography

JM Financial Limited provides a range of financial products and services to corporations, financial institutions, high net-worth individuals, and retail investors in India. It operates through four segment ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 12:34
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.