Jio Financial Services Ltd logo

Jio Financial Services Ltd

JIOFIN NSE

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]

AI Verdict: HOLD Confidence: 4%

Jio Financial Services trades at 1.14x book value which is attractive for a Reliance-backed financial services platform, but a PE of 103.6x with only 1% ROE over 3 years signals the stock is priced for a future that has not yet materialized. The 72% TTM sales growth is encouraging, but profitability remains elusive with a -5% TTM profit decline.

Key Fundamentals

LargecapNBFCFinancial Services
Market Cap
1.5L Cr
Volatility
Moderate
P/E Ratio
97.73
EBITDA
₹2,305 Cr
Return on Equity
1.15%
Debt to Equity
0.02
Book Value
₹214.69
EPS
₹2.5
52W High
₹338.6
52W Low
₹223.3

Technical Indicators

Key Insights

Strengths

3
  • Stock is trading at 1.13 times its book value
  • Company is expected to give good quarter
  • Promoter holding has increased by 2.01% over last quarter.

Weaknesses

2
  • Company has a low return on equity of 1.23% over last 3 years.
  • Working capital days have increased from 4,699 days to 14,113 days

Growth Rate

Revenue Growth
69.00% ↗
Net Income Growth
-0.43% ↘
Cash Flow Change
-1388.17% ↘
ROE
13.91% ↗
ROCE
9.56% ↗
EBITDA Margin (Avg.)
-22.35% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
HOLD
Risk high

Jio Financial Services trades at 1.14x book value which is attractive for a Reliance-backed financial services platform, but a PE of 103.6x with only 1% ROE over 3 years signals the stock is priced for a future that has not yet materialized. The 72% TTM sales growth is encouraging, but profitability remains elusive with a -5% TTM profit decline.

Bull Case 8
  • Trading at just 1.14x price-to-book value, significantly below most financial services peers which trade at 3-8x book
  • TTM revenue growth of 72% indicates rapid business scale-up in lending, insurance, and broking verticals
  • 3-year compounded sales CAGR of 328% reflects explosive top-line trajectory from a low base
  • Promoter holding increased by 2.01% in the last quarter, signaling insider confidence in the business
  • 100% of analyst ratings (2 out of 2) are Buy recommendations with zero Sell or Hold calls
  • Market cap of Rs 1,55,754 crore backed by Reliance Industries provides deep pockets for capital deployment and partnerships like BlackRock JV
  • Company is expected to deliver a good upcoming quarter based on forward estimates
  • Dividend yield of 0.2% shows early commitment to shareholder returns despite being in growth phase
Bear Case 8
  • PE ratio of 103.6x is extremely expensive, pricing in years of flawless execution with no margin of safety
  • Return on equity of just 1% over 3 years and 1.23% recently indicates capital is not being deployed productively
  • Working capital days ballooned from 4,699 to 14,113 days, suggesting severe inefficiency in capital cycle management
  • TTM compounded profit growth is -5%, meaning earnings are actually shrinking despite massive revenue growth
  • Stock price CAGR of -17% over 1 year shows market has been de-rating the stock despite the growth narrative
  • Only 2 total analyst ratings provide very thin coverage and low conviction signal from the Street
  • ROE and ROCE data are largely unavailable or negligible, making it difficult to assess true business economics
  • No meaningful track record beyond 3 years as a standalone entity limits historical performance assessment

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

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 1
  • Active global investor outreach Jun 8

    Jio Financial Services has scheduled investor meetings across Boston (Jun 12), San Francisco (Jun 11), New York (Jun 9), and Montreal (Jun 8), signaling aggressive engagement with global institutional investors.

Neutral 3
  • Non-deal roadshows in US/Canada Jun 8

    Executives will attend non-deal roadshows in Boston (Jun 12), San Francisco (Jun 11), and Montreal (Jun 8) with no unpublished price sensitive information to be shared.

  • Bank of America Asia Conference Jun 4

    Executives will attend Bank of America's 2026 Asia Conference on Jun 9 in New York, held in-person or virtually.

  • Citi India Conference attended Jun 5

    Executives met institutional investors at the Citi India Conference 2026 in Mumbai on Jun 5, confirming no UPSI was shared.

TL;DR: Jio Financial Services is on an intensive investor relations push across major global financial hubs in early June 2026, engaging with institutional investors at conferences hosted by Citi and Bank of America as well as independent roadshows. No material business updates or price sensitive information has been disclosed. The aggressive outreach suggests the company is building institutional awareness and possibly preparing the ground for future capital market activity. The trend is neutral near-term but the level of engagement hints at strategic positioning ahead.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
414
608
414
418
418
694
438
493
612
981
901
1,019
Expenses
38
66
94
98
74
140
125
155
156
293
346
414
Operating Profit
376
542
320
320
344
553
313
338
457
688
555
605
OPM %
91%
89%
77%
77%
82%
80%
71%
69%
75%
70%
62%
59%
Other Income
67
218
67
78
62
226
70
71
67
238
36
40
Interest
10
0
0
0
0
0
0
8
99
136
212
298
Depreciation
5
5
5
5
5
6
6
6
6
8
8
8
PBT
427
754
381
393
400
773
377
396
419
783
371
339
Tax %
22%
11%
23%
21%
22%
11%
22%
20%
23%
11%
28%
20%
Net Profit
332
668
294
311
313
689
295
316
325
695
269
272
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
Figures in ₹ Crores

Profit & Loss

  Mar 2023Mar 2024Mar 2025Mar 2026
Sales
45
1,855
2,043
3,513
Expenses
6
296
495
1,208
Operating Profit
39
1,559
1,549
2,305
OPM %
88%
84%
76%
66%
Other Income
10
429
428
381
Interest
0
10
8
745
Depreciation
0
22
23
29
PBT
49
1,956
1,947
1,912
Tax %
37%
18%
17%
18%
Net Profit
31
1,605
1,613
1,561
EPS in Rs
—
2.53
2.54
2.46
Div. Payout %
0%
0%
20%
24%
Figures in ₹ Crores

Balance Sheet

  Mar 2023Mar 2024Mar 2025Mar 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
7,875
Total Liabilities
1,14,930
1,44,863
1,33,500
1,63,497
Fixed Assets
158
172
180
418
CWIP
38
3
14
13
Investments
1,08,141
1,33,292
1,18,910
1,33,089
Other Assets
6,593
11,395
14,395
29,977
Total Assets
1,14,930
1,44,863
1,33,500
1,63,497
Figures in ₹ Crores

Cash Flow

  Mar 2023Mar 2024Mar 2025Mar 2026
Operating
2,055
-678
-10,083
-15,439
Investing
-1,110
1,441
6,406
-5,697
Financing
-889
-753
3,962
21,454
Net Cash Flow
56
11
285
318
Free Cash Flow
2,055
-678
-10,125
-15,544
CFO/OP
5,231
-22
-633
-658
Figures in ₹ Crores

Ratios

  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
14,113
ROCE %
—
2%
1%
2%

Shareholding Pattern

As of Apr 2026
Promoters 49.13%
Public 21.38%
DIIs 13.42%
FIIs 11.61%
Others 4.37%
Government 0.08%
Total 99.99%
  Aug 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Apr 2026
Promoters
45.80%
46.77%
47.12%
47.12%
47.12%
47.12%
47.12%
47.12%
47.12%
47.12%
47.12%
47.12%
49.13%
FIIs
0.46%
0.00%
19.83%
19.45%
17.55%
16.88%
15.61%
11.66%
12.30%
11.84%
11.55%
12.31%
11.61%
DIIs
15.26%
12.75%
13.08%
12.60%
11.88%
11.49%
12.56%
14.30%
14.78%
14.88%
15.45%
14.36%
13.42%
Government
0.07%
0.07%
0.07%
0.08%
0.08%
0.08%
0.08%
0.08%
0.09%
0.09%
0.09%
0.09%
0.08%
Public
8.52%
13.60%
15.48%
16.67%
19.01%
19.93%
20.36%
22.39%
21.38%
21.67%
21.41%
21.67%
21.38%
Others
29.89%
26.81%
4.41%
4.08%
4.35%
4.49%
4.26%
4.45%
4.33%
4.39%
4.37%
4.45%
4.37%
No. of Shareholders
31,63,200
39,83,140
40,83,130
43,99,040
48,02,850
48,60,800
49,78,980
52,59,480
51,18,350
50,73,440
49,62,000
49,44,260
49,76,390

Documents

Frequently Asked Questions about Jio Financial Services Ltd

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. The company is a holding company and will operate its financial s...
Where is Jio Financial Services Ltd (JIOFIN) listed?
Jio Financial Services Ltd is listed on the Indian stock exchanges. It is listed on NSE: JIOFIN and BSE: 543940. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Jio Financial Services Ltd belong to?
Jio Financial Services Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Jio Financial Services Ltd?
Jio Financial Services Ltd has a market capitalisation of approximately ₹153059.89 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Jio Financial Services Ltd?
The Price-to-Earnings (PE) ratio of Jio Financial Services Ltd is 97.73. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Jio Financial Services Ltd?
Over the past 52 weeks, Jio Financial Services Ltd has traded between a low of ₹223.3 and a high of ₹338.6. This range helps investors understand the stock's price volatility and recent trading levels.
Does Jio Financial Services Ltd pay dividends?
Yes, Jio Financial Services Ltd has a dividend yield of 0.21%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Jio Financial Services Ltd?
Jio Financial Services Ltd has a Return on Equity (ROE) of 1.15%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Jio Financial Services Ltd on Tapetide?
On Tapetide, you can view Jio Financial Services Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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]

Website jfs.in
Listed 2023-08-21
Face Value ₹ 10
Issued Size 6,35,31,41,623

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