JM Financial , a leading financial services group, has reported robust financial results for the second quarter of fiscal year 2026, demonstrating strong performance across its diverse business segments.

Key Financial Highlights

• Operating Profit After Tax (PAT) of INR 270.00 crores for Q2 FY26
• Interim dividend declared at INR 1.50 per share
• Fees and commission income reached a record high of INR 341.00 crores, showing 20% year-on-year growth for two consecutive quarters
• Consolidated net worth increased to INR 10,241.00 crores, translating to a book value per share of INR 107.00
• Annualized Return on Equity (ROE) based on half-year numbers stood at 14.40%

Strong Performance in Investment Banking

JM Financial's Investment Banking division demonstrated exceptional performance in the quarter:

• Closed 15 capital market transactions worth INR 28,000.00 crores
• Filed documents for 56 Initial Public Offerings (IPOs) aggregating approximately INR 120,000.00 crores
• Ranked #1 in IPOs for the quarter in terms of value

Wealth Management and Asset Management Growth

The company's Wealth Management and Asset Management businesses showed significant progress:

• Wealth Management business crossed the milestone of 1,000 sales personnel
• Recurring Assets Under Management (AUM) in Wealth Management grew 26% year-on-year to INR 32,000.00 crores
• Mutual Fund's Systematic Investment Plan (SIP) book increased by 59% year-on-year to INR 115.00 crores per month
• Average AUM from non-liquid assets in mutual funds increased by 36% year-on-year to approximately INR 12,100.00 crores

Affordable Housing Finance Business

JM Financial's Affordable Housing Finance business continued its growth trajectory:

• Assets Under Management (AUM) reached INR 3,031.00 crores, showing 28% year-on-year growth
• Expanded to 134 branches, indicating a strong focus on market penetration

Management Commentary

Vishal Kampani, Managing Director of JM Financial, commented on the results, stating, "We are pleased to report another strong set of numbers this quarter. Our focus on expanding our Wealth and Asset Management businesses is yielding results, and we see significant growth potential in these areas. The robust pipeline in our Investment Banking division, particularly in the IPO space, positions us well for the coming quarters."

Outlook

JM Financial remains optimistic about its growth prospects, particularly in the capital markets, asset management, and wealth management segments. The company's strong capital base, experienced management team, and diversified business model position it well to capitalize on the structural shift in India's savings and investment patterns.

The management emphasized its commitment to maintaining a strong balance sheet while pursuing growth opportunities across its business segments. The company's focus on risk-adjusted returns and its integrated structure across various financial services are expected to drive synergies and enhance overall profitability in the coming quarters.

With a robust pipeline of deals, particularly in the IPO market, and continued expansion in wealth and asset management, JM Financial is well-positioned to maintain its growth momentum in the second half of FY26 and beyond.

JM Financial Limited (ISIN: INE780C01023) has reported a robust performance for the second quarter of fiscal year 2026, with a 16% year-on-year increase in consolidated profit after tax (PAT). The company's strategic focus on scaling its retail lending and asset management businesses is yielding positive results, as evidenced by its latest financial results.

Financial Highlights

• Consolidated PAT rose to Rs. 270.00 crore in Q2 FY26, up from Rs. 232.00 crore in the same quarter last year.
• The company achieved its highest-ever quarterly fees and commission income at Rs. 341.00 crore, marking a 20% increase year-on-year.
• JM Financial's consolidated net worth grew by 18% to Rs. 10,241.00 crore as of September 30, 2025.

Strategic Growth Initiatives

JM Financial is actively expanding its presence in key business segments:

Wealth Management Expansion

• The company has significantly increased its sales and wealth relationship managers (RMs) headcount by 43% year-on-year to 1,015.
• Recurring Assets Under Management (AUM) in the wealth management segment grew by 26% YoY to Rs. 32,021.00 crore.
• The branch network expanded with the addition of 11 new branches, bringing the total to 70.

Asset Management Growth

• Mutual Fund Average AUM increased by 30% YoY to Rs. 14,902.00 crore.
• The Systematic Investment Plan (SIP) book showed impressive growth, with monthly inflows reaching approximately Rs. 115.00 crore, a 59% increase YoY.

Affordable Home Loans

• The Affordable Home Loans segment saw its AUM grow by 28% YoY to Rs. 3,031.00 crore.
• The customer base in this segment expanded by 39% YoY to about 29,000.

Corporate Advisory and Capital Markets

JM Financial maintained its strong position in the investment banking space:

• Ranked #1 in IPOs by value during Q2 FY26.
• Closed 15 capital market transactions amounting to approximately Rs. 28,000.00 crore.
• The company reports a robust pipeline of 56 filed IPO transactions aggregating to about Rs. 120,000.00 crore, with additional IPOs yet to be filed.

Management Commentary

Vishal Kampani, Vice Chairman and Managing Director of JM Financial Limited, expressed enthusiasm about the company's performance: "We are extremely excited to report another quarter of strong performance. We are significantly expanding our base as we execute our strategies on recruiting top talent, adding clients, expanding network including physical and digital infrastructure."

Dividend Announcement

The Board of Directors has declared an interim dividend of Rs. 1.50 per share for the financial year 2025-26.

Outlook

JM Financial's focus on scaling its retail lending and asset management businesses, coupled with its strong capital position and expansion into the digital credit ecosystem, positions the company well for sustainable growth. The company's efforts in strengthening its real estate financing and advisory verticals further support its growth strategy.

As JM Financial continues to execute its expansion plans and capitalize on market opportunities, investors and stakeholders will be watching closely to see how these initiatives translate into long-term value creation.