JM Financial FY26 profit rises 46% to ₹1,202 crore

JM Financial reported its highest-ever annual consolidated net profit of ₹1,202 crore for the financial year ended March 31, 2026, representing a 46% increase from the previous year. The company’s Board of Directors approved the audited standalone and consolidated financial results at a meeting held on May 29, 2026. Following the announcement, the company conducted an earnings conference call on June 1, 2026, to discuss its performance. The transcript of this call has been uploaded to the company's website.

Q4 and Annual Performance

For the fourth quarter ended March 31, 2026, consolidated net profit declined 21.1% year-on-year to ₹165 crore, while net revenue decreased by 12.2% to ₹584 crore. The annual performance was driven by strong growth across key segments, with Wealth and Asset Management and Affordable Home Loans emerging as primary drivers. Wealth Management revenue rose 6.6% to ₹1,403 crore, and Affordable Home Loans revenue increased 25.2% to ₹455 crore.

Metric (Rs Cr)	Q4 FY26	Q4 FY25	YoY %
Net Revenue	584	665	-12.2%
Pre-provisioning profit	241	318	-24.1%
Net Profit	165	210	-21.1%

Segment Performance and Capital Allocation

The Corporate Advisory and Capital Markets segment saw revenue grow 20.1% to ₹946 crore, whereas the Private Markets segment reported a strategic reduction in its loan book, leading to a 29.2% decline in revenue to ₹1,298 crore. The company’s net worth grew by 10% to ₹10,605 crore. The Board re-appointed four Independent Directors—Ms. Roshini Bakshi, Mr. Navroz Udwardia, Mr. Pradip Kanakia, and Mr. Sumit Bose—for a second term, subject to shareholder approval.

Segment	FY26 Revenue (Rs Cr)	YoY %
Wealth Management	1,403	6.6%
Affordable Home Loans	455	25.2%
Corporate Advisory and Capital Markets	946	20.1%
Private Markets	1,298	-29.2%

Dividend and Auditor Details

The statutory auditors, KKC & Associates LLP, issued an unmodified opinion on the financial results. The Board recommended a final dividend of ₹1.75 per share, subject to shareholder approval at the Annual General Meeting scheduled for August 3, 2026. The total dividend for the year aggregates to ₹3.25 per share. The record date for determining eligibility for the final dividend has been fixed as Friday, June 12, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.45%	+4.91%	-7.65%	-15.32%	-13.75%	+28.26%

The Nomination and Remuneration Committee of jm financial has approved the grant of 9,70,624 stock options to eligible employees. These options will give rise to the issuance of an equivalent number of equity shares, each with a face value of Re. 1. The decision was taken during a meeting held on May 19, 2026.

The effective date for the grant of these options is July 1, 2026. The company has outlined a specific vesting schedule and exercise period for the allocation, which varies across different tranches of the grant.

Grant Details and Vesting Schedule

The allocation is divided into two main categories with distinct vesting timelines. The first tranche consists of 4,89,625 options, while the second tranche comprises 4,80,999 options. The exercise period for all granted options extends from the respective vesting dates up to June 30, 2033.

Number of Options Granted	Vesting Schedule	Exercise Period
4,89,625	100% Options will vest on July 1, 2027	July 1, 2027 to June 30, 2033
4,80,999	Stage I - 1/3rd (1,60,333) Options will vest on July 1, 2027	July 1, 2027 to June 30, 2033
	Stage II - 1/3rd (1,60,333) Options will vest on July 1, 2028	July 1, 2028 to June 30, 2033
	Stage III - 1/3rd (1,60,333) Options will vest on July 1, 2029	July 1, 2029 to June 30, 2033

Meeting Proceedings

The committee meeting commenced at 3:00 p.m. and concluded at 5:00 p.m. on May 19, 2026. The approval is part of the company's employee compensation strategy, aligning with regulatory disclosures under Regulation 30.