JM Financial Q4 Review - Exits FY21 With Well Contained Stress Pool: ICICI Securities
JM Financial sign board. (Photo: Bloomberg)

JM Financial Q4 Review - Exits FY21 With Well Contained Stress Pool: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

JM Financial Ltd. reported Q4 FY21 profit after tax of Rs 1.77 billion, up 35% YoY.

What encouraged:

  1. Gross non performing assets (at 3.5%) settled near Q3 FY21 proforma levels and SMA-II pool sharply shrunk QoQ from 4.4% to 2.94%.
  2. Company exited FY21 with 2.5% credit cost – mere Rs 395 million provisioning in Q4 FY21.
  3. Mortgage lending assets under management witnessed sequential uptick; home loan scale-up continued.
  4. Investment banking pipeline, cash equity market share retracement and wealth assets under administration ramp-up bodes well for investment banking, wealth management and securities business.

Click on the attachment to read the full report:

ICICI Securities JM Financial Q4FY21 Result Update.pdf

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