India · Delayed Price · Currency is INR JM Financial Earnings Call Transcripts
Fiscal Year 2026
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Strong growth across all segments with FY 2026 PAT up 46% and robust AUM expansion in wealth and home loans. Strategic pivot and de-risking have positioned the business for 15%-20% growth in key areas, with a focus on productivity and capital allocation to wealth, asset management, and affordable housing.
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PAT for nine months rose 69% YoY to INR 1,037 crore, with strong growth in fee income, Wealth, and Affordable Housing. IPO and M&A pipelines remain robust, while investments in talent and technology continue. Market volatility and real estate normalization are key risks.
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Q2 FY26 saw robust profit growth, record fees and commission income, and a strong IPO pipeline. Wealth and asset management are scaling rapidly, while private markets focus on recoveries and syndication. Interim dividend declared and high provision coverage maintained.
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Achieved record operating PAT and net worth, with 22% year-over-year growth in revenue and profits. Strong recoveries, reduced borrowings, and robust segment performance, especially in wealth and capital markets, underpin a positive outlook with ambitious growth targets and a strong IPO pipeline.
Fiscal Year 2025
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Shareholding in Credit Solutions increased to 97% and the loan book was significantly reduced, supporting a shift to an asset-light model. Fee income and AUM in wealth and asset management grew strongly, while the board recommended a record dividend. Recoveries and profitability are expected to improve further.
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Revenue and profit remained stable despite a strategic shift away from wholesale credit, with strong growth in wealth, asset management, and affordable home loans. High provision coverage and robust cash reserves position the group for future expansion and write-backs.
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Revenue and profits grew strongly year-over-year, driven by focused businesses in capital markets, wealth, and asset management. Conservative provisioning increased coverage ratios, while strategic pivots and surplus liquidity position the group for growth in affordable home loans and LAS.
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Q1 FY25 saw modest revenue and profit growth, with a strategic pivot to off-balance sheet syndication and increased focus on wealth, asset management, and capital markets. Retail mortgage loans surged, while non-retail loans declined, and a major stake acquisition in Credit Solutions was announced.