Jio Financial
Jio Financial
Financial Services F&OKey Fundamentals
LargecapNBFCFinancial ServicesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Stock is trading at 1.09 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.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoJio Financial Services Ltd, with a market cap of approximately ₹1,50,479 crore, is an early-stage financial services platform trading at a P/E of 73.8x and 1.11x book value. The company has delivered TTM sales growth of 119% and profit growth of 29%, but its 3-year average ROE remains at just 1%, reflecting that the business is still in a pre-scale phase with limited capital efficiency so far.
- TTM revenue growth of 119% indicates rapid top-line scaling as the company ramps up its lending, insurance, and broking verticals
- Trading at 1.11x price-to-book value, which is modest for a financial services company backed by the Reliance-Jio ecosystem
- 3-year compounded sales CAGR of 328% reflects a sharp acceleration in business activity from a low base
- Compounded profit CAGR of 293% over 3 years shows the company is translating revenue growth into bottom-line gains, albeit from a small base
- Promoter holding increased by 2.01% over the last quarter, signalling promoter confidence in the business trajectory
- Backed by the Jio-Reliance digital ecosystem with over 450 million telecom subscribers, providing a massive built-in distribution channel for financial products
- Market cap of ₹1,50,479 crore and a dividend yield of 0.26% indicate the company is already returning some capital to shareholders even at this early stage
- Consensus expectation of a good upcoming quarter suggests near-term operational momentum is intact
- 3-year average ROE of just 1% is extremely low for a financial services company, indicating poor capital efficiency at present
- P/E ratio of 73.8x is elevated, pricing in significant future growth that is yet to materialize in profitability terms
- Stock price has declined 26% over the past 1 year, underperforming the broader market and reflecting investor scepticism about near-term earnings delivery
- 3-year stock CAGR of -2% shows the stock has destroyed value for medium-term holders despite the high revenue growth
- TTM profit growth of 29% lags TTM sales growth of 119%, suggesting margin compression or rising operating costs as the company scales
- Dividend yield of only 0.26% offers negligible income return, meaning investors are entirely dependent on capital appreciation
- The company is still in early stages with limited operating history as an independent listed entity, making long-term profitability and competitive positioning difficult to assess
- Last year ROE of 1% shows no meaningful improvement over the 3-year average of 1%, indicating capital efficiency has remained stagnant despite revenue growth
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- NBFC AUM surges in Q1FY27 Aug 26
Jio Financial Services reported NBFC AUM of ₹30,667 crore in Q1FY27 with payments bank income rising 7.7x YoY, though consolidated PAT dipped slightly to ₹1,561 crore in FY26.
- Dividend and CEO reappointment approved Aug 26
Shareholders approved a Re 0.60 dividend and reappointed Hitesh Sethia as MD & CEO at the AGM on August 26, 2026.
- $60M MSCI rebalancing outflow Aug 31
Jio Financial Services saw a $60M (₹5.73B) outflow as part of the MSCI August rebalancing, scheduled at 3pm on August 31.
- AGM resolutions unanimously passed Aug 28
All seven resolutions were approved at the third post-listing AGM, with 100% promoter support and roughly 71% public shareholder participation.
- Investor meet scheduled Sep 1 Aug 26
Jio Financial Services will participate in the Ashwamedh – Elara India Dialogue 2026 on September 1 in Mumbai with one-on-one and group sessions.
TL;DR: Jio Financial Services is showing strong momentum in its lending and payments businesses, with NBFC AUM reaching ₹30,667 crore and payments bank income growing 7.7x YoY. No material headwinds emerged, though a $60M MSCI rebalancing outflow created short-term passive selling pressure. Shareholder confidence appears solid with full AGM approval and a maiden dividend. The trend is improving as the company scales its financial services platform, with the upcoming investor meet on Sep 1 potentially serving as the next catalyst.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 414 | 608 | 414 | 418 | 418 | 694 | 438 | 493 | 612 | 981 | 901 | 1,019 | 2,004 |
| Expenses | 38 | 66 | 94 | 98 | 74 | 140 | 125 | 155 | 156 | 293 | 346 | 414 | 607 |
| Operating Profit | 376 | 542 | 320 | 320 | 344 | 553 | 313 | 338 | 457 | 688 | 555 | 605 | 1,397 |
| OPM % | 91% | 89% | 77% | 77% | 82% | 80% | 71% | 69% | 75% | 70% | 62% | 59% | 70% |
| Other Income | 67 | 218 | 67 | 78 | 62 | 226 | 70 | 71 | 67 | 238 | 36 | 40 | 0 |
| Interest | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 99 | 136 | 212 | 298 | 418 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 8 | 8 | 8 | 9 |
| PBT | 427 | 754 | 381 | 393 | 400 | 773 | 377 | 396 | 419 | 783 | 371 | 339 | 970 |
| Tax % | 22% | 11% | 23% | 21% | 22% | 11% | 22% | 20% | 23% | 11% | 28% | 20% | 14% |
| Net Profit | 332 | 668 | 294 | 311 | 313 | 689 | 295 | 316 | 325 | 695 | 269 | 272 | 830 |
| EPS in Rs | — | 1.05 | 0.46 | 0.49 | 0.49 | 1.08 | 0.46 | 0.5 | 0.51 | 1.09 | 0.42 | 0.43 | 1.26 |
Profit & Loss
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|
| Sales | 45 | 1,855 | 2,043 | 3,521 | 4,905 |
| Expenses | 6 | 296 | 495 | 1,208 | 1,660 |
| Operating Profit | 39 | 1,559 | 1,549 | 2,312 | 3,245 |
| OPM % | 88% | 84% | 76% | 66% | 66% |
| Other Income | 10 | 429 | 428 | 374 | 314 |
| Interest | 0 | 10 | 8 | 745 | 1,065 |
| Depreciation | 0 | 22 | 23 | 29 | 33 |
| PBT | 49 | 1,956 | 1,947 | 1,912 | 2,462 |
| Tax % | 37% | 18% | 17% | 18% | — |
| Net Profit | 31 | 1,605 | 1,613 | 1,561 | 2,066 |
| EPS in Rs | — | 2.53 | 2.54 | 2.46 | 3.2 |
| Div. Payout % | 0% | 0% | 20% | 24% | — |
Balance Sheet
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 2 | 6,353 | 6,353 | 6,353 |
| Reserves | 1,14,118 | 1,32,794 | 1,17,143 | 1,27,500 |
| Borrowings | 743 | 0 | 3,970 | 21,768 |
| Other Liabilities | 66 | 5,715 | 6,033 | 7,845 |
| Total Liabilities | 1,14,930 | 1,44,863 | 1,33,500 | 1,63,467 |
| Fixed Assets | 158 | 172 | 180 | 326 |
| CWIP | 38 | 3 | 14 | 105 |
| Investments | 1,08,141 | 1,33,292 | 1,18,910 | 1,33,089 |
| Other Assets | 6,593 | 11,395 | 14,395 | 29,947 |
| Total Assets | 1,14,930 | 1,44,863 | 1,33,500 | 1,63,467 |
Cash Flow
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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/OP | 5,231 | -22 | -633 | -656 |
Ratios
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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51 extracted metrics + investor summaries across FY23–FY27.
Documents
Frequently Asked Questions about Jio Financial
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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).[1]
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