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Jio Financial Services

JIOFIN NSE
₹222.27 +8.00 (+3.73%)
P/E
84.51
View as Markdown
MCP
Close 4 Nov 2026 ₹222.27 −75.83 −25.4% 1Y
Start ₹298.10

Key Fundamentals

LargecapFinanceFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
1.86%
Debt to Equity
0.32
EPS (TTM)
₹2.63
Book Value
₹190.80
Market Cap
—
P/E (TTM)
84.51
P/B
1.16
ROE
1.19%
Dividend Yield
0.28%
EBITDA
₹2,334 Cr
52W High
₹316.85
52W Low
₹202.51
Day Range
₹212.51 – ₹222.83
Volume
1,94,14,790

Peer Comparison

Financial Services › NBFC › Investment Company

Jio Financial peer comparison
Jio Financial (this company)
₹222.2784.51₹1,43,288 Cr1.160.28%1.19%1.86%₹5,623 Cr₹1,711 Cr
Aditya Birla Capital
₹379.9525.26₹1,05,060 Cr2.440.00%12.00%—₹48,186 Cr₹4,119 Cr
Tata Investment Corporation
₹564.5066.26₹28,326 Cr0.920.61%1.44%1.57%₹404 Cr₹431 Cr
Cholamandalam Financial Holdings
₹1,374.809.67₹26,343 Cr1.670.09%17.50%—₹40,890 Cr₹6,015 Cr
TVS Holdings
₹12,237.0012.55₹24,865 Cr3.700.69%30.60%17.00%₹62,488 Cr₹3,888 Cr
Maharashtra Scooters
₹11,775.0048.32₹13,738 Cr0.421.32%1.06%1.06%₹289 Cr₹279 Cr
JSW Holdings
₹10,942.0088.41₹12,133 Cr0.340.00%0.46%0.59%₹184 Cr₹138 Cr
Median 7 companies₹1,374.8048.32₹26,343 Cr1.160.28%1.44%1.57%₹5,623 Cr₹1,711 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

41 Weak

Data confidence 97/100

Category scores

Quality
41
Weak
Returns, margins, earnings quality 22% weight
Valuation
35
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
37
Weak
Solvency, leverage, coverage 9% weight
Momentum
23
Poor
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Stock is trading at 1.10 times its book value
  • Company is expected to give good quarter
  • Promoter holding has increased by 2.01% over last quarter.

Weaknesses

1
  • Company has a low return on equity of 1.23% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish748
OscillatorsBullish243
Moving AveragesNeutral505

Key readings

RSI (14)
58.52
Neutral
MACD (12,26,9)
−2.86
Bullish
SMA (50)
223.08
Bearish
SMA (200)
240.15
Bearish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
3Y+327.71%
1Y+72.34%
TTM+122.78%

Net profit

Net profit growth by window
3Y+269.27%
1Y−3.22%
TTM+4.90%

Operating cash flow

Operating cash flow growth by window
3YTurned negative
1YOutflow widened by ₹5,350 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
3Y−21.01 pp
1Y−10.16 pp
TTM−6.51 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2023₹45.00 Cr
Mar 2024₹1,855 Cr
Mar 2025₹2,043 Cr
Mar 2026₹3,521 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2023₹31.00 Cr
Mar 2024₹1,605 Cr
Mar 2025₹1,613 Cr
Mar 2026₹1,561 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹3.10 +26.0% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Jio Financial Services Ltd trades at ₹214.27 as of 2026-11-03 with a market cap of ₹1,42,324 crore. The company shows strong top-line momentum with 3-year compounded sales growth of 328% and TTM sales growth of 123%, but profitability remains thin with ROE at 1.17% and a PE of 81.47x, reflecting an early-stage financial services business still scaling towards meaningful earnings.

Bull Case 5
  • Exceptional top-line growth trajectory with 3-year compounded sales CAGR of 328% and TTM revenue growth of 123%, indicating rapid business scale-up across lending, insurance and broking verticals.
  • Very low leverage with a debt-to-equity ratio of just 0.16x, providing substantial balance sheet headroom to expand lending operations without immediate capital-raise concerns.
  • Promoter holding increased by 2.01% over the last quarter, signalling insider confidence in the company's long-term trajectory.
  • 3-year compounded profit growth of 293% shows that while the base was small, the company is translating revenue ramp-up into profit growth.
  • Dividend yield of 0.28% indicates the company has begun returning capital to shareholders even at this early stage of operations.
Bear Case 6
  • ROE of just 1.17% and a 3-year average ROE of only 1% indicate the company is generating minimal returns on its substantial equity base.
  • TTM profit growth has decelerated sharply to just 6% compared to the 3-year compounded rate of 293%, suggesting the high base effect is catching up and earnings momentum is slowing.
  • ROCE stands at only 1.69%, well below the cost of capital for most financial services businesses, indicating the company is not yet generating economic value.
  • The stock has delivered a 1-year return of -30%, significantly underperforming broader markets, reflecting investor scepticism about the pace of value creation.
  • 3-year stock CAGR of 0% means shareholders have earned no capital appreciation over a multi-year period despite the strong revenue and profit growth figures.
  • Low return on equity of 1.23% over the last 3 years suggests the large equity capital base is being deployed very inefficiently so far.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Jio Financial is systematically strengthening its capital base through promoter warrant conversions, with promoter holding rising from 47.12% to 50.98% across October-November 2026. The ₹18,268 crore Bank of America partnership for Jio Credit signals serious intent in digital lending. No headwinds are visible in recent news, though the stock remains in a capital-building phase with limited revenue visibility from new subsidiaries. The trend is constructive as strong promoter backing and strategic partnerships position the company for multi-subsidiary expansion.

Positives 3
  • ₹5,934 cr promoter equity infusion Oct 30

    Jio Financial completed allotment of 25 crore shares at ₹306.50/share, adding ₹5,934.38 crore in balance equity infusion. Paid-up shares rose from 635.31 crore to 660.31 crore.

  • Promoter holding rises to 49.13% Oct 30

    Combined promoter and promoter group holding increased from 47.12% to 49.13% after warrant conversion. Sikka Ports rose to 4.65% and Jamnagar Utilities to 5.52%.

  • Bank of America lending partnership Oct 30

    Jio Financial executed agreements with NB Holdings Corporation (Bank of America subsidiary) for investment of up to ₹18,268.22 crore in Jio Credit Limited, expanding digital lending operations.

Neutral 1
  • Promoter stake hits 50.98% Nov 3

    Promoter group stake rose further to 50.98% after additional warrant conversion on October 30. Total paid-up capital increased to 685.31 crore shares at ₹306.50/share premium.

Quarterly Results

₹ Cr
JIOFIN quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
608
414
418
418
694
438
493
612
981
901
1,019
2,004
1,699
Expenses
66
94
98
74
140
125
155
156
293
346
414
607
621
Operating Profit
542
320
320
344
553
313
338
457
688
555
605
1,397
1,078
OPM %
89%
77%
77%
82%
80%
71%
69%
75%
70%
62%
59%
70%
63%
Other Income
218
67
78
62
226
70
71
67
238
36
40
0
0
Interest
0
0
0
0
0
0
8
99
136
212
298
418
578
Depreciation
5
5
5
5
6
6
6
6
8
8
8
9
11
PBT
754
381
393
400
773
377
396
419
783
371
339
970
489
Tax %
11%
23%
21%
22%
11%
22%
20%
23%
11%
28%
20%
14%
30%
Net Profit
668
294
311
313
689
295
316
325
695
269
272
830
340
EPS (₹)
1.05
0.46
0.49
0.49
1.08
0.46
0.5
0.51
1.09
0.42
0.43
1.26
0.52

Profit & Loss

₹ Cr
JIOFIN profit and loss, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
45
1,855
2,043
3,521
5,623
Expenses
6
296
495
1,208
1,988
Operating Profit
39
1,559
1,549
2,312
3,635
OPM %
88%
84%
76%
66%
65%
Other Income
10
429
428
374
76
Interest
0
10
8
745
1,507
Depreciation
0
22
23
29
36
PBT
49
1,956
1,947
1,912
2,169
Tax %
37%
18%
17%
18%
—
Net Profit
31
1,605
1,613
1,561
1,712
EPS (₹)
—
2.53
2.54
2.46
2.63
Div. Payout %
0%
0%
20%
24%
—

Balance Sheet

₹ Cr
JIOFIN balance sheet, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
2
6,353
6,353
6,353
6,603
Reserves
1,14,118
1,32,794
1,17,143
1,27,500
1,22,992
Borrowings
743
0
3,970
21,768
41,325
Other Liabilities
66
5,715
6,033
7,845
10,745
Total Liabilities
1,14,930
1,44,863
1,33,500
1,63,467
1,81,666
Fixed Assets
158
172
180
326
538
CWIP
38
3
14
105
12
Investments
1,08,141
1,33,292
1,18,910
1,33,089
1,30,348
Other Assets
6,593
11,395
14,395
29,947
50,767
Total Assets
1,14,930
1,44,863
1,33,500
1,63,467
1,81,666

Cash Flow

₹ Cr
JIOFIN cash flow, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Operating
2,055
−678
−10,089
−15,439
Investing
−1,110
1,441
6,406
−5,652
Financing
−889
−753
3,968
21,454
Net Cash Flow
56
11
285
363
Free Cash Flow
2,055
−678
−10,089
−15,439
CFO/EBITDA
5,231
−22
−633
−656

Ratios

JIOFIN financial ratios, annual
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
113
3
3
6
Cash Conversion Cycle
113
3
3
6
Working Capital Days
3,644
21
−37
−112
ROCE %
—
2%
1%
2%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Jio Financial insights

54 extracted metrics across FY23–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 49.13%
  • Public 22.20%
  • DIIs 13.39%
  • FIIs 10.65%
  • Others 4.55%
  • Government 0.08%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Jio Financial Services

What does Jio Financial Services Ltd do?
JFSL was originally incorporated as Reliance Strategic Investments Private Limited in July, 1999 under the Companies Act 1956. Jio Financial Services Limited was incorporated in July, 23. JFSL is a NBFC-ND-SI registered with RBI.
Where is Jio Financial Services Ltd (JIOFIN) listed?
Jio Financial Services Ltd trades as JIOFIN on the NSE and under code 543940 on the BSE.
Which sector does Jio Financial Services Ltd belong to?
Jio Financial Services Ltd is classified under the Financial Services sector, in the NBFC industry.
What is the PE ratio of Jio Financial Services Ltd?
Jio Financial Services Ltd trades at a PE ratio of 84.51 as of 4 Nov 2026, on earnings per share of ₹2.63, against a book value of ₹190.8 per share.
What is the 52-week high and low of Jio Financial Services Ltd?
Over the last 52 weeks Jio Financial Services Ltd has traded between ₹202.51 and ₹316.85 as of 4 Nov 2026.
Does Jio Financial Services Ltd pay dividends?
Jio Financial Services Ltd has a dividend yield of 0.28%.
What is the Return on Equity (ROE) of Jio Financial Services Ltd?
Jio Financial Services Ltd reported a return on equity of 1.19%. Its debt-to-equity ratio is 0.32.

Company Information

JFSL was originally incorporated as Reliance Strategic Investments Private Limited in July, 1999 under the Companies Act 1956. Jio Financial Services Limited was incorporated in July, 23. JFSL is a NBFC-ND-SI registered with RBI. The company is a holding company and will operate its financial services business through its consumer-facing subsidiaries namely Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), and Jio Payment Solutions Limited (JPSL) and joint venture namely Jio Payments Bank Limited (JPBL).

Website jfs.in
Listed 21 Aug 2023
Face Value ₹10

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