JM Financial Ltd, established in 1973 by Nimesh Kampani and headquartered in Mumbai, is a prominent diversified financial services group in India. Over the decades, it has evolved into a key player in the financial sector, offering a comprehensive suite of services tailored to diverse client needs. The company operates across multiple domains, including investment banking, asset management, mortgage lending, wealth management, and securities trading. It provides expert advisory services for mergers and acquisitions, capital raising, and restructuring through its investment banking division. The asset management arm manages mutual funds, alternative investment funds, and portfolio management services, while its mortgage lending division supports both residential and commercial property financing. Furthermore, JM Financial excels in delivering personalized wealth management solutions to high-net-worth individuals and is actively involved in securities and derivatives trading. Noteworthy for its involvement in landmark corporate advisory and capital market transactions, the company has successfully expanded its services to cater to both public and private markets. Publicly listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), JM Financial Ltd continues to maintain a robust presence as an integrated financial services leader.
Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
Promoters + | 56.44% | 56.44% | 56.43% | 56.43% | 56.43% |
FIIs + | 17.92% | 18.19% | 16.83% | 15.31% | 17.02% |
DIIs + | 8.46% | 8.46% | 8.63% | 8.57% | 7.20% |
Public + | 17.17% | 16.91% | 18.11% | 19.70% | 19.36% |
No. of Shareholders | 1,35,103 | 1,58,446 | 1,63,944 | 1,62,210 | 1,89,596 |
The shareholding pattern of JM Financial demonstrates stability and slight variations among the key investor groups over the year spanning from December 2023 to December 2024. Promoters maintained a consistent stake, starting at 56.44% in December 2023 and ending at 56.43% in December 2024, reflecting a negligible change.
Foreign Institutional Investors (FIIs) showed a fluctuating trend, beginning at 17.92% in December 2023, peaking at 18.19% in March 2024, then declining to 15.31% by September 2024, before rebounding to 17.02% in December 2024. Domestic Institutional Investors (DIIs) held steady at 8.46% initially but rose slightly to 8.63% by June 2024. However, their stake declined to 7.20% by the end of the year. The public shareholding increased notably, starting from 17.17% in December 2023 and reaching 19.36% in December 2024. Meanwhile, the number of shareholders for JM Financial grew significantly, rising from 1,35,103 in December 2023 to 1,89,596 by December 2024, showcasing increased public interest in the company.
Below are the trading platforms that you can use to purchase JM Financial shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
When | Maximum Price | Minimum Price |
March 2025 | 142.99 | 109.99 |
April 2025 | 141.57 | 108.90 |
May 2025 | 137.45 | 105.73 |
June 2025 | 143.64 | 110.49 |
July 2025 | 140.82 | 108.32 |
August 2025 | 145.17 | 111.67 |
September 2025 | 146.92 | 113.01 |
October 2025 | 150.74 | 115.95 |
November 2025 | 154.50 | 118.85 |
December 2025 | 161.46 | 124.20 |
In 2025, JM Financial is expected to see fluctuations in its stock prices throughout the year. In March 2025, the maximum price is projected to reach ₹142.99, while the minimum may dip to ₹109.99. As the year progresses, December 2025 is anticipated to record a maximum price of ₹161.46 and a minimum of ₹124.20, showcasing steady growth and investor optimism in JM Financial.
When | Maximum Price | Minimum Price |
January 2026 | 166.30 | 127.92 |
February 2026 | 162.14 | 124.73 |
March 2026 | 165.39 | 127.22 |
April 2026 | 168.76 | 129.82 |
May 2026 | 167.09 | 128.53 |
June 2026 | 171.27 | 131.74 |
July 2026 | 167.91 | 129.16 |
August 2026 | 173.10 | 133.16 |
September 2026 | 176.56 | 135.82 |
October 2026 | 181.16 | 139.35 |
November 2026 | 185.68 | 142.83 |
December 2026 | 190.33 | 146.40 |
As we move through 2026, JM Financial is expected to exhibit progressive price movements. In January 2026, the maximum price is anticipated to touch ₹166.30, while the minimum may hover around ₹127.92. By December 2026, the maximum price is projected to rise to ₹190.33, with the minimum expected to be ₹146.40, reflecting a steady upward trend for JM Financial throughout the year.
When | Maximum Price | Minimum Price |
January 2027 | 192.23 | 147.87 |
February 2027 | 197.16 | 151.66 |
March 2027 | 204.85 | 157.57 |
April 2027 | 200.83 | 154.49 |
May 2027 | 194.98 | 149.99 |
June 2027 | 203.76 | 156.74 |
July 2027 | 199.76 | 153.66 |
August 2027 | 205.94 | 158.41 |
September 2027 | 213.15 | 163.96 |
October 2027 | 218.69 | 168.22 |
November 2027 | 224.16 | 172.43 |
December 2027 | 229.76 | 176.74 |
When | Maximum Price | Minimum Price |
January 2028 | 234.35 | 180.27 |
February 2028 | 240.36 | 184.90 |
March 2028 | 249.74 | 192.11 |
April 2028 | 244.84 | 188.34 |
May 2028 | 237.71 | 182.85 |
June 2028 | 248.41 | 191.08 |
July 2028 | 243.54 | 187.34 |
August 2028 | 251.07 | 193.13 |
September 2028 | 259.86 | 199.89 |
October 2028 | 266.61 | 205.09 |
November 2028 | 273.28 | 210.21 |
December 2028 | 280.11 | 215.47 |
When | Maximum Price | Minimum Price |
January 2029 | 285.71 | 219.78 |
February 2029 | 293.04 | 225.41 |
March 2029 | 304.47 | 234.20 |
April 2029 | 298.50 | 229.61 |
May 2029 | 289.80 | 222.92 |
June 2029 | 302.84 | 232.96 |
July 2029 | 296.90 | 228.39 |
August 2029 | 306.09 | 235.45 |
September 2029 | 316.80 | 243.69 |
October 2029 | 325.04 | 250.03 |
November 2029 | 333.16 | 256.28 |
December 2029 | 341.49 | 262.69 |
When | Maximum Price | Minimum Price |
January 2030 | 348.32 | 267.94 |
February 2030 | 357.25 | 274.81 |
March 2030 | 371.19 | 285.53 |
April 2030 | 363.91 | 279.93 |
May 2030 | 353.31 | 271.78 |
June 2030 | 369.21 | 284.01 |
July 2030 | 361.97 | 278.44 |
August 2030 | 373.16 | 287.05 |
September 2030 | 386.22 | 297.09 |
October 2030 | 396.27 | 304.82 |
November 2030 | 406.17 | 312.44 |
December 2030 | 416.33 | 320.25 |
As we progress through 2030, the share price of JM Financial is poised for consistent growth. In January 2030, the maximum share price is expected to reach ₹348.32, while the minimum share price may settle at ₹267.94. By December 2030, the maximum share price is anticipated to rise significantly to ₹416.33, with the minimum share price projected at ₹320.25, showcasing a steady upward trajectory for JM Financial throughout the year.
Financial Condition of JM Financial
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
Sales + | 3,446 | 3,211 | 3,724 | 3,291 | 4,786 | 4,634 |
Expenses + | 933 | 1,009 | 1,296 | 1,170 | 2,017 | 2,241 |
Operating Profit | 2,513 | 2,202 | 2,429 | 2,120 | 2,768 | 2,393 |
OPM % | 73% | 69% | 65% | 64% | 58% | 52% |
Other Income + | 8 | 15 | 39 | 53 | -801 | -780 |
Interest | 1,386 | 1,111 | 1,082 | 1,179 | 1,562 | 1,439 |
Depreciation | 41 | 40 | 38 | 42 | 53 | 62 |
Profit before tax | 1,094 | 1,067 | 1,348 | 953 | 353 | 113 |
Tax % | 29% | 24% | 26% | 26% | 92% | |
Net Profit + | 778 | 808 | 992 | 709 | 31 | -136 |
EPS in Rs | 6.48 | 6.19 | 8.1 | 6.26 | 4.29 | 4.02 |
Dividend Payout % | 3% | 8% | 20% | 29% | 47% |
The financial trajectory of JM Financial from March 2020 to TTM (Trailing Twelve Months) highlights notable shifts in its performance metrics. Over this period, sales exhibited consistent growth, increasing from ₹3,446 crore in March 2020 to ₹4,634 crore in TTM, with a peak of ₹4,786 crore in March 2024. However, expenses have surged from ₹933 crore in March 2020 to ₹2,241 crore in TTM, reflecting a significant rise in operational costs. Consequently, the operating profit, which peaked at ₹2,768 crore in March 2024, fell to ₹2,393 crore in TTM, and the OPM% (Operating Profit Margin) contracted from 73% in March 2020 to 52% in TTM, indicating pressure on profitability margins. The other income, which contributed positively in earlier years, turned negative at ₹-780 crore in TTM, adding to the financial strain. Rising interest expenses, which climbed from ₹1,386 crore in March 2020 to ₹1,439 crore in TTM, further weighed on profitability.
As a result of these challenges, profit before tax declined from ₹1,094 crore in March 2020 to just ₹113 crore in TTM, while the tax percentage spiked to 92% in March 2024, exacerbating the drop in net earnings. The net profit, which stood at ₹992 crore in March 2022, plummeted to a loss of ₹136 crore in TTM, signaling a difficult period for the company. Shareholders saw a decline in EPS (Earnings Per Share) from ₹6.48 in March 2020 to ₹4.02 in TTM, reflecting reduced earnings. Despite these financial pressures, JM Financial has progressively increased its dividend payout, rising from 3% in March 2020 to 47% in March 2024, demonstrating its commitment to shareholder returns even during challenging times.
FAQs
What is the current market capitalization of JM Financial?
As of February 21st, 2025, the market cap is standing at ₹10,055 Crores.
JM Financial shares are currently trading at ₹105 as of February 21st, 2025.
Looking ahead, the share price is expected to range between ₹105.73 to ₹161.46 by 2025.
The long-term outlook is optimistic, with a projected range of ₹267.94 to ₹416.33 by 2030.
What is the current Price-to-Earnings (PE) ratio of JM Financial?
Currently, the stock’s PE ratio is at a reasonable 18.4.
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Conclusion
In conclusion, JM Financial Ltd has established itself as a prominent player in the financial services sector, offering a diversified portfolio that includes investment banking, wealth management, asset management, mortgage lending, and securities trading. While its shareholding pattern for 2024 reflected stability with slight variations among promoters, FIIs, DIIs, and public investors, the company’s financial performance from 2020 to TTM highlighted both growth in sales and challenges in maintaining profitability margins. Despite declining net profits and EPS, the company demonstrated a commitment to shareholders through increased dividend payouts.
The projected share prices for JM Financial between 2025 and 2030 indicate a steady upward trend, suggesting optimistic investor sentiment and potential for long-term value creation. However, addressing rising expenses and improving operational efficiency will be crucial for sustained growth in the coming years.
What did we learn?
- 1 Shareholdings Patterns of JM Financial
- 2 How to Buy JM Financial Shares in India?
- 3 JM Financial Share Price Prediction: 2025 – 2030
- 4 Financial Condition of JM Financial
- 5 FAQs
- 5.1 What is the current market capitalization of JM Financial?
- 5.2 What is the current share price of JM Financial?
- 5.3 What is the share price target for JM Financial in 2025?
- 5.4 What is the share price target for JM Financial in 2030?
- 5.5 What is the current Price-to-Earnings (PE) ratio of JM Financial?
- 6 Conclusion