JM FINANCIAL LTD

Add to watch list to get report alerts
BSE Code: 523405       NSE Code: JMFINANCIL

Business Profile
Business Profile
JM Financial (JMFINAN) has business interests in the segments of capital markets and broking, financing, and asset management. It was incorporated as a private limited company on Jan. 30, 1986 in the name of JM Share & Stock Brokers and got its present name on Oct. 29, 2004. It is part of the JM Financial group, which has business interests in investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, non banking finance company activities, private equity and asset reconstruction.

The company operates through its subsidiaries, joint ventures and associates. The capital markets and broking business is handled by JM Financial Commtrade and JM Financial Consultants, and its step-down subsidiaries JM Financial Services, JM Financial ASK Securities and JM Financial Securities. Financing is handled by JM Financial Products and JM Financial Asset Reconstruction Company (49% stake). The asset management business is looked after by Infinite India Investment Management (50% stake), JM Financial Asset Management Company (58.56% stake) and JM Financial Investment Managers, which looks after the Private Equity Fund, Venture Capital Fund and Special Situation Fund.

Recent awards include the Finance Asia Achievement Awards for Best India Deal for Vodafone`s USD 12 billion acquisition of HTIL and Best Secondary Offering for ICICI`s USD 4.6 billion simultaneous follow-on of ADRs and domestic shares. In October 2007, the company completed the termination of its joint venture with Morgan Stanley. As a part of the arrangement, the company has agreed to sell its 49% equity holding in Morgan Stanley India Company to Morgan Stanley for an amount equivalent to USD 445 million. Its non banking financing activities performed creditably with the IPO financing and margin funding products achieving consistent growth. The three new open-ended, equity-oriented mutual fund growth schemes achieved assets under management close to Rs 5,000 million during the year.

The registered office is located at 141 Maker Chambers III, Nariman Point, Mumbai-400021.

Financials
On a standalone basis, JM Financial registered a 63,397.18% growth in net profit to Rs 13,296.31 million for the quarter ended December 2007 from a profit of Rs 20.94 million for the quarter ended December 2006.
Total income rose 476.24% to Rs 185.03 million for the quarter ended December 2007 from Rs 32.11 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 443.21 for the quarter ended December 2007.

On a consolidated basis, the company registered a profit of Rs 11,443.75 million for the quarter ended December 2007.
It recorded a net sales of Rs 1,827.37 million for the quarter.
Total income was Rs 2,160.58 million for the quarter ended December 2007.
The earnings per share of the company stood at Rs 381.02 for the quarter ended December 2007.

Recent Developments
31-MAR-08
JM Financial Consultants, a subsidiary of the company, has decided to increase its equity stake in the institutional equity sales, trading and research business-JM Financial ASK Securities from the current 60% to 100%, subject to necessary regulatory approvals.
In October 2007, JM Financial Consultants entered into a joint venture with the ASK Group by acquiring a 60% stake in ASK Securities. With the proposed acquisition of the remaining stake, JM Financial Consultants will now own 100% in the institutional equities business for a total consideration of Rs 1.39 billion.
The name of the company, which presently is JM Financial ASK Securities, will be changed after raising the stake.
Early last year, JM Financial sold its 49% equity stake in its institutional equity business to Morgan Stanley for USD 445 million (approx. Rs 17.67 billion).

Other Information
Annual Reports for JM FINANCIAL LTD
Annual Report YearDownload Annual ReportDownload Report Preview
2022-23
2021-22
2020-21
2019-20
2018-19
2017-18
2016-17
2015-16
2014-15
2013-14
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2002-03
2001-02
2000-01
1999-00
1998-99
1996-97

Please Note: Clicking on the download link will add the report to your downloaded reports. You will be able to download it at any time during the subscription period.

Free reports will not be deducted from your subscription.


Request a Report
Close
Select Year   
Description