JM Financial reported a strong Q2 FY26 with an operating PAT of INR270 crores and declared an interim dividend of INR1.5 per share. Fees and commission income reached a record high of INR341 crores, showing a 20% year-on-year growth. The IPO pipeline is robust at almost INR120,000 crores. The company also crossed 1,000 salespeople in Wealth Management and an AUM of INR3,000 crores in Affordable Housing.
Strong Financial Performance
JM Financial announced robust results for Q2 FY26, highlighted by an operating PAT of INR270 crores. The company declared an interim dividend of INR1.5 per share, reinforcing its commitment to increasing shareholder distribution. Fees and commission income reached a record INR341 crores, demonstrating a 20% year-on-year increase for the second consecutive quarter.
Segment Highlights
Corporate Advisory and Capital Markets
JM Financial ranked #1 in IPOs for the quarter by value, closing 15 capital market transactions totaling INR28,000 crores in Q2 FY26. Documents have been filed for 56 IPOs with an aggregate issue size of approximately INR120,000 crores, with a growing transaction pipeline.
Wealth and Asset Management
The company’s recurring AUM grew by 26% year-on-year to INR32,000 crores. Wealth Management’s sales and relationship manager strength increased by 43% YoY. The SIP book increased by 59% year-on-year to INR115 crores per month, while the average AUM from non-liquid assets grew by 36% year-on-year to INR12,100 crores.
Private Markets
JM Financial ARC recovered approximately INR1,273 crores over the last year, reducing borrowings by 27% year-on-year to approximately INR1,589 crores.
Affordable Home Loans
The Affordable Home Loans business saw its AUM increase by 28% year-on-year to INR3,031 crores, supported by a branch network of 134 locations.
Profitability Metrics
For Q2 FY26, profit before tax increased by 1.2x year-on-year to INR344 crores, and profit after tax after minority interest increased by 16% year-on-year to INR270 crores. Adjusting for a one-time tax credit in the previous year, the adjusted Y-o-Y increase in PAT for Q2 FY26 would be 40%. For the half year, profit before tax increased by 1.4x year-on-year to INR937 crores, and profit after tax after minority interest increased by 80% year-on-year to INR724 crores. The annualized ROE, based on half-year numbers, stood at 14.4%.
Source: BSE
