JM Financial (523405) investor relations material

Executive summary

• Q1 FY27 results highlight the resilience of a diversified business model, with private markets providing strong earnings support amid capital market volatility.

• Focus on high-growth, high-return businesses across corporate advisory, private markets, wealth, asset management, and affordable home loans.

• Achieved highest ever client addition and strong pipeline of IPO transactions (~INR 150,000 crore).

• Unaudited consolidated and standalone financial results for the quarter ended June 30, 2026, were reviewed and approved by the Board and subjected to limited review by statutory auditors, who issued unmodified reports.

• The Group comprises 14 subsidiaries, one partnership firm, one association of persons, and three associates, with recent expansion in the US pending regulatory approval.

Financial highlights

• Net revenue for Q1FY27 at INR 883 crore, up 13% YoY; consolidated total income at ₹1,224.66 crore.

• Pre-provision operating profit at INR 469 crore, up 21% YoY.

• PAT ex-provision before minorities at INR 379 crore, up 24% YoY; consolidated PAT at INR 292 crore, down 35.7% YoY but up 76.5% sequentially.

• Net profit after tax and share in associates stood at ₹368.57 crore, compared to ₹458.77 crore in Q1 FY26.

• Gross resolutions in distressed credit over INR 2,000 crore; group share of cashflows INR 1,200 crore.

Outlook and guidance

• Early signs of capital market recovery with July transaction revenues exceeding June.

• Private credit book expected to grow 15%-20% YoY, with growth already underway.

• Wealth Management productivity focus; profitability expected to improve over next 1-2 years as new RMs mature.

• Asset Management expects AUM and SIP book to recover in coming quarters.

• Strong multi-decadal growth opportunity in private markets and affordable home loans.