JMFINANCIL
JM Financial Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
JMFINANCIL
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹122 today
BEAR
₹130
+6%
8.6% a year · 9.5x exit
BASE
₹152
+24%
14.9% a year · 10.5x exit
BULL
₹232
+90%
20.3% a year · 15.3x exit
Where the market has priced it
8x10x today19x
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹12.57 (screener) |
|---|---|
| Guided growth | 14.9% a year, said on the call of 04-Jun-2026 · transcript |
| Read across as | lender: book growth, ROA held flat — medium confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 9.53x / 10.52x / 15.33x, this company’s own p20 / median / p80 across 10 filed years |
| Filed-industry peers | median 11.27x across 9 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
book growth 15%
And I've said this 6 months ago as well in one of our calls that our target is to grow the loan book at 15% to 20% year-onyear.
Call 04-Jun-2026 · bridge confidence medium · transcript PDF