Jio Financial Services Ltd
JIOFIN NSE
Jio Financial Services Ltd
Financial Services F&ONSE: JIOFIN BSE: 543940 NBFC
Key Fundamentals
Volatility
Moderate
P/E Ratio
80.25
EBITDA
₹2,334 Cr
Return on Equity
1.17%
Debt to Equity
0.16
EPS
₹2.5
52W High
₹333.7
52W Low
₹223.3
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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36 extracted metrics + investor summaries across FY23–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- 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
Revenue Growth
70.41% ↘
Net Income Growth
-3.21% ↘
Cash Flow Change
-53.03% ↘
ROE
-10.69% ↘
ROCE
13.42% ↘
EBITDA Margin (Avg.)
-13.54% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoAI opinion · based on fundamentals
Risk high
Jio Financial Services Ltd is an early-stage financial services platform backed by the Reliance-Jio ecosystem, trading at a PE of 84.5x with a market cap of ~₹1.76 lakh crore. Revenue has grown sharply (TTM sales growth of 119%) and AUM scaled from ₹173 crore to ₹25,711 crore in two years, but return on equity remains just 1.23% over three years and net profit declined 3% in FY26 to ₹1,561 crore despite the revenue surge.
Bull Case 8
- AUM scaled explosively from ₹173 crore (Mar 2024) to ₹10,053 crore (Mar 2025) to ₹25,711 crore (Mar 2026), indicating rapid lending ramp-up
- Consolidated revenue from operations grew 72% YoY to ₹3,513 crore in FY26 from ₹2,043 crore in FY25, with TTM sales growth at 119%
- Jio BlackRock mutual fund JV raised ₹17,800 crore in its maiden NFOs (July 2025), providing a high-margin asset management revenue stream with BlackRock's $11.5 trillion global expertise
- Disbursements nearly doubled to ~₹30,000 crore in FY26 (+116% YoY), showing strong execution in home loans, loans against securities, SME financing and supply chain credit across 24 offices in 18 cities
- Promoter holding increased by 2.01% in the latest quarter, signalling insider confidence in the long-term value creation thesis
- Price-to-book ratio of 1.23x is modest for a platform-stage financial services company with access to Jio's 450 million+ digital user base for distribution
- Income from core lending operations rose approximately 4x YoY to ₹1,390 crore in FY26, demonstrating operating leverage as the loan book scales
- Strategic partnerships with BlackRock (asset management) and Allianz (insurance) provide proven global capabilities across multiple financial verticals simultaneously
Bear Case 8
- Return on equity is just 1.23% over the last 3 years, far below the 12-15% typical of established NBFCs, indicating capital is not yet generating adequate returns
- Net profit declined 3% to ₹1,561 crore in FY26 despite 72% revenue growth, as costs grew faster than income — operating expenses rose 19% QoQ in Q4 FY26
- Stock has declined 21% over the past year (1Y CAGR of -21%), underperforming the broader market despite the operational scale-up
- PE ratio of 84.5x is elevated for a company with sub-2% ROE and declining profits, implying significant execution is already priced in
- Q4 FY26 net profit fell 14% YoY to ₹272 crore from ₹311 crore, showing that quarterly profitability remains volatile
- The company is still pre-scale in unsecured lending and has stated it will only enter that segment after achieving critical mass in secured credit, limiting near-term margin expansion
- Compounded profit growth of 29% TTM lags far behind sales growth of 119% TTM, revealing significant margin compression as the business invests in infrastructure and people
- Dividend yield of just 0.23% offers negligible income return to shareholders while the company burns through capital to build multiple business lines simultaneously
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2d ago Neutral 3
- FY26 BRSR report filed Aug 3
Jio Financial Services submitted its FY26 ESG report showing a 43% drop in Scope 1 & 2 emissions to 45.22 metric tons and ₹4.61 crore CSR spend.
- FY26 dividend record date set Jul 31
Record date fixed as August 10, 2026 for FY25-26 dividend eligibility. Third AGM (post listing) scheduled for August 26, 2026.
- Q1FY27 earnings call scheduled Jul 9
Analyst presentation for Q1FY27 results to be held on July 16, 2026 at 19:00 IST.
TL;DR: All recent news is procedural and compliance-related with no material business developments signaling either bullish or bearish momentum. The company is maintaining routine corporate governance with ESG filings, dividend scheduling, and earnings call announcements. No headwinds or catalysts are visible in the current news flow, leaving the near-term outlook dependent on Q1FY27 results due July 16.
Quarterly Results
| 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
| 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
| 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
| 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
| 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% |
Documents
1
Announcement under Regulation 30 (LODR)-Acquisition
6 May - On May 6, 2026, invested Rs 300 crore in wholly owned subsidiary JFPSL. 6 May - On May 6, 2026, invested Rs 300 crore in wholly owned subsidiary JFPSL.
2
Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
23 Apr - 25 crore shares allotted on warrant conversion to SPTL and JUPL; promoter holding rose to 49.13%. 23 Apr - 25 crore shares allotted on warrant conversion to SPTL and JUPL; promoter holding rose to 49.13%.
3
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
23 Apr - Transcript of Presentation on the Audited Financial Results (Consolidated and Standalone) for the quarter and year ended March 31, 2026 23 Apr - Transcript of Presentation on the Audited Financial Results (Consolidated and Standalone) for the quarter and year ended March 31, 2026
4
Joint Venture With Allianz Europe B.V. For General Insurance Business In India
22 Apr - JFSL approved binding 50:50 general insurance JV with Allianz; launch awaits regulatory approvals. 22 Apr - JFSL approved binding 50:50 general insurance JV with Allianz; launch awaits regulatory approvals.
5
Announcement under Regulation 30 (LODR)-Press Release / Media Release
22 Apr - Jio Financial and Allianz signed 50:50 general insurance JV; launch awaits statutory and regulatory approvals. 22 Apr - Jio Financial and Allianz signed 50:50 general insurance JV; launch awaits statutory and regulatory approvals.
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 NBFC industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the PE ratio of Jio Financial Services Ltd?
The Price-to-Earnings (PE) ratio of Jio Financial Services Ltd is 80.25. 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 ₹333.7. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Jio Financial Services Ltd?
Jio Financial Services Ltd has a Return on Equity (ROE) of 1.17%. 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]