The Board of Directors declares an interim dividend of Re.0.60 per share of the face value of Re.1/- each.

Mumbai, February 3, 2016: The Board of Directors of JM Financial Limited, at its meeting held today, has approved the unaudited financial results for the quarter and nine months ended December 31, 2015.

Summary of Consolidated quarterly results

Summary of Consolidated nine months results

The Earnings per share and Diluted Earnings per share, for the nine months ended December 31, 2015 is Rs. 3.64 and Rs. 3.61 respectively (not annualised). The consolidated net worth as at December 31, 2015 stands at Rs. 2,822 crore and the debt equity ratio is 2:1

Commenting on the results and financial performance, Mr. Nimesh Kampani, Chairman, JM Financial Group, said, “Concerns about growth in China emerged as the dominant factor contributing to the volatility in the global markets. It appears that global risk will continue to pressurize the foreign inflows in medium term. The operating performance of Indian Corporates has also been under pressure on account of global commodity meltdown, currency fluctuations and high indebtedness of large corporates. Moreover the slippages of standard advances to NPA by the banks are also a worrying factor.

Despite the above, India continues to remain a bright spot among the emerging markets driven by expected increase in private consumer demand and foreseeable traction in the investment climate as the government is committed to revive the same. We are confident that key economic reform proposals like the GST and the much perceived upcoming ‘growth budget’ will set the tone for further strengthening the economic growth and create a positive investment climate. The Reserve Bank of India’s decision to keep the policy rates unchanged in its monetary policy announced yesterday is in line under the prevailing uncertainties.

The group’s fund based and asset management businesses have continued to demonstrate steady growth this quarter. We remain focused on the asset quality of our lending portfolio which is reflected in the lower NPAs at 0.21%.

We are committed to our businesses, risk management systems and core values. We are confident that our strategies will help us to offer a broad gamut of solutions to our clients and stay competitive in tough times.”

Business Update

Investment banking and securities business:

The Investment Banking business continues to grow with a robust deal pipeline and several mandated transactions under execution. Our approach is relationship driven and to add value to our clients with right advice. Given our in-depth understanding of the industry trends, our clients are better placed to leverage potential opportunities to take their business goals at the next level. We have been ranked number 1 in the Bloomberg’s list of M & A in India during the last calendar year and stood second by the size of deals advised in the rankings compiled by Dealogic, a New York based researcher on the deal economy. Prime Database ranked us as the top investment bank handling more than Rs.42,000 crore of equity issuances in the Indian public market.

During the quarter our Investment banking team executed the following deals:

• Global Coordinator and BRLM for Qualified Institutional Placement of NCDs with Warrants by HDFC – Rs. 5,051 crore. Upon conversion, the warrants will further raise Rs. 5,384 crore.
• Global Coordinator and BRLM to the Initial Public Offer by S. H. Kelkar – Rs. 508 crore.
• Lead Managers to the rights issue of IL&FS Transportation Networks – Rs.740 crore.
• Sole financial advisor to Videocon Telecommunication Limited on their sale of spectrum to Idea Cellular Limited.
• Financial advisor and manager to the delisting offer made by Essar Ports Limited

Our Institutional Equities business saw increased client interaction and steady growth momentum during the quarter. New institutional clients continue to get added to our universe of clients across geographies, in line with our strategy of increasing the breadth and reach of our product.

During the quarter, the Institutional Equities business hosted its annual flagship investor conference in November 2015 in Mumbai. The conference was extremely well received with over 75 leading corporates and keynote speakers and about 300 institutional investors both foreign & domestic participating in the same.

Our Institutional Equities business also continued to strengthen its international presence with the opening of our office in United States (US). The US office, along with the already established Singapore and Mauritius offices will enable the business to further deepen our relationships with marquee global funds and establish new client relationships.

Our Institutional Equities business also continues to expand on its research product with wide coverage and technology enhancements across functions.

Investment Advisory and Distribution business offers wealth management, equity brokerage and Independent Financial Distribution services.

Wealth management business offers advisory services to High Net-worth Individuals, Ultra High Net-worth Individuals & Corporates. Our Wealth Management plans are tailored on the foundation of deep understanding of asset allocations, financial products and succession planning. Open product architecture through combination of in-house offerings and third party products have enabled JM Financial to emerge as an unbiased “Trusted Advisor” to its clients. We follow a hub and spoke model where the smaller cities are covered by the team sitting out of the major cities.

The AUM of our wealth management business stood at over Rs. 23,386 crore as on December 31, 2015. We have presence in 7 major cities in India (Mumbai, New Delhi, Bangalore, Hyderabad, Kolkata, Ahmedabad and Pune) with team of more than 50 experienced wealth advisors catering to Ultra High Net worth families, High Net Worth families and corporate treasuries. Our focus is on growing discretionary assets. We have plans to increase the employee strength by recruiting additional 50 wealth advisors in near future.

Our Equity brokerage businessoffers equity sales and trading services to HNIs, Corporates and Retail clients. This group is supported by technical and fundamental research teams who generate Investment and Trading Ideas and derivative strategists.

We have presence in 261 locations spread across 112 cities through a network of branches and franchisees.

In the distribution business, we have a large network of 8,140 active Independent Financial Distributors (IFDs) who distribute various financial products across the country. During the quarter, we helped corporates mobilise more than Rs. 800 Crore in fixed deposit schemes and fixed income products.

Fund based business:

The overall lending book stood at Rs. 6,550 crore as on December 31, 2015 as against Rs.6,118 crore as on September 30, 2015. Out of the said lending book, the real estate lending book stood at Rs.4,314 crore with the non-real estate lending book at Rs.2,236 crore as on December 31, 2015.The treasury book as on December 31, 2015 for the fixed income securities stood at Rs. 249 crore. We continued our efforts of diversifying our sources and maturities for our borrowing profile. Our long term borrowing as a proportion of total borrowing stood at approximately 30 % on December 31, 2015. Our commercial real estate funding focus is on Tier - 1 cities, viz., Mumbai, Pune, Bangalore and Chennai. We plan to selectively enter into new geographies to expand our business.

In light of the prevailing stress in the economy, we have been extremely selective and remained focus on the asset quality.

During the quarter, the asset reconstruction business actively participated in several auction processes and also pursued single credit accounts with banks. We managed to close four deals - two as part of debt aggregation and two fresh acquisitions. With high level of NPAs and restructured assets in the banking system and a greater thrust by the Reserve Bank of India for controlling the NPAs, the market will continue to present plenty of opportunities and we are well positioned to capitalize on the same.

Our focus continues to be on restructuring and resolution of our acquired portfolios. As part of this strategy, we successfully closed the sale of one large property of Hotel Leelaventure Ltd. and are in the process of restructuring this account. The sale got concluded at Rs.725 crore. Consequently, investments made by us in the security receipts have been liquidated upon redemption of SR’s resulting in a healthy yield and incentive fees. On conclusion of this transaction, adequate liquidity has been created thereby paving the way for fresh acquisition in stressed assets.

We are the second largest capitalized Distressed Asset Management Companies in India having consistent performance and leadership position in the industry, with a market share of approximately 18%. Given the March 2017 deadline by the Reserve Bank of India to the banks to clean up their balance sheets, we are very well positioned to have larger pie in acquiring the stressed assets and can commit capital to meet the requirements.

Alternative Asset Management:

At the end of the quarter, the combined AUM/AUA of our private equity and real estate funds stood at around Rs.875 crore.

JM Financial India Fund (the Fund), our private equity fund continues to work closely with its portfolio companies to seek exit opportunities.

As on December 31, 2015, the Fund returned an aggregate 71.70 % of the capital contribution received from its Investors in Indian Rupee terms.

Our Real Estate Fund too continues to work closely with the portfolio companies to seek suitable exit opportunities.

As on December 31, 2015, the domestic scheme of the Real Estate Fund returned an aggregate 54% of the capital contribution received by it and the offshore scheme returned 49% of its capital contribution both in Indian Rupee terms.

Asset Management:

We offer a bouquet of 17 mutual fund schemes across the risk-return spectrum that caters to the specifics of both institutional and non-institutional investors. Our risk and fund management framework allows us to effectively manage both risk and investments while generating high quartile returns across the product categories that we offer.

Although, we saw a lot of FII selling due to uncertainty in emerging and global markets, the domestic institutions continued to buy Indian equities. Our equity schemes have performed well despite the volatile market conditions.

The average AUM of our Mutual Fund schemes during the quarter ended December 31, 2015 stood at Rs. 15,868 crore. Out of this AUM, the AUM in the equity schemes was at Rs. 5,106 crore, under the Arbitrage scheme at Rs 5,321 crore and the AUM of the debt schemes stood at Rs. 5,441 crore.

Awards and Recognitions:

JM Financial Institutional Securities Ltd was awarded ‘Best Corporate and Institutional Bank –Domestic’ and ‘Best Equity House by the Asset Triple A Country Awards 2015.

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Forward - Looking statements

This press release (‘document’) containing JM Financial Group’s activities, projections and expectations for the future, may contain certain forward-looking statements based upon the information currently available with the Company or any of its subsidiaries and associate companies. The financial results in future may vary from the forward-looking statements contained in this document due to uncertainties and unforeseen events that may impact the businesses of the JM Financial Group. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events.

This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and neither JM Financial Group nor any of their directors or employees will be liable in any manner for the consequences of such actions.

Mumbai, October 29, 2015: The Board of Directors of JM Financial Limited, at its meeting held today, considered and approved the unaudited financial results for the quarter and half year ended September 30, 2015.

Consolidated Results – Key Highlights:

FY 16 – H1 compared to FY 15 – H1

• Total income increased by 22 % to Rs. 784.64 crore from Rs. 643.62 crore
• Profit before tax increased by 42 % to Rs. 313.37 crore from Rs. 221.13 crore
• Net profit after tax and before minority interest increased by 40 % to Rs.227.55 crore from Rs.162.63 crore
• Net profit after tax, minority interest and share of associates increased by 13 % to Rs. 169.61 crore from Rs. 150.54 crore

FY 16 – Q2 compared to FY 16 – Q1

• Total income increased by 5 % to Rs. 401.62 crore from Rs. 383.02 crore
• Profit before tax increased by 15 % to Rs. 167.55 crore from Rs. 145.83 crore
• Net profit after tax and before minority interest increased by 27 % to Rs.127.32 crore from Rs.100.23 crore
• Net profit after tax, minority interest and share of associates increased by 34 % to Rs. 97.26 crore from Rs. 72.35 crore

The Earnings per share and Diluted Earnings per share, for the half year ended September 30, 2015 is Rs. 2.15 and Rs. 2.14 respectively (not annualised). The consolidated net worth as at September 30, 2015 stands at Rs. 2,720 crore and the debt equity ratio is 2 :1

Commenting on the results and financial performance, Mr. Nimesh Kampani, Chairman, JM Financial Group, said,

“In a move that came as a surprise to the market, the bold 50 basis point repo rate cut by the Reserve Bank of India will reinvigorate the investment sentiment and will boost growth in the upcoming quarters.

The financial performance for the quarter and half year ended September 30, 2015 was on expected lines. The group’s fund based business and asset management business have done well. While the securities business performed well, the volatility in the markets has hampered the timeliness of deal closures. We shall continue to navigate challenges, and deliver on our commitments to our clients, shareholders and communities and as always, we operate with our strong and time tested values.”

Business Update

Investment banking and securities business:

During the quarter our Investment banking executed the following deals:

• Acted as Global Coordinator and BRLM to Qualified Institutional Placement by Indusind Bank – Rs. 4,328 crore.
• Acted as selling broker to the Offer for Sale by Indian Oil Corporation Limited – Rs.9,396 crore.
• Acted as selling broker to the Offer for Sale by Network 18 Media and Investments – Rs. 182 crore.
• Acted as the lead financial advisor to Adani Enterprises Limited on its composite scheme of arrangement and subsequent listing of a resultant company, Adani Transmission Limited.
• Acted as financial and structuring advisor to Balkrishna Industries Limited for its scheme of arrangement pertaining to demerger of its paper division undertaking and subsequent listing of the resultant company.
• Acted as advisor for listing of Gujarat Gas Limited (resultant company) pursuant to its scheme of arrangement.
• Acted as advisor on sale of Telangana based grain spirit distillery, Shasta Bio Fuels to Allied Blenders & Distillers.

The pipeline of our investment banking business continues to remain healthy with several mandated transactions under execution.

The Institutional Equities business saw continued steady client interaction and growth momentum during the quarter. New institutional clients continue to be added to the client muster, in line with the strategy of increasing the breadth and reach of our product.

The annual conference hosted by the Institutional Equities business is slated to be held during November 2015 in Mumbai. The conference will be represented by senior industry captains as keynote speakers and around 70 Indian corporates interacting with more than 150 institutional investors – domestic and global.

The Institutional Equities business continues to expand on its research product, distribution and technology enhancements across functions.

In the wealth management business, the assets under management stood at over Rs.23,900 Crore as on Sep 30, 2015. We have presence in 7 major cities in India (Mumbai, New Delhi, Bangalore, Hyderabad, Kolkata, Ahmedabad and Pune) with team of more than 50 experienced wealth advisors catering to Ultra High Net worth families, High Net Worth families and Corporate treasuries. We are focused on increasing our coverage and AUM in this business.

In the distribution business, we have a large network of over 7,650 active Independent Financial Distributors (IFDs) who distribute various financial products across the country. As per Prime Database, we are ranked amongst Top 4 players in HNI and Retail categories for distribution of equity issuances for the period Apr to Sep 2015 with around 14% market share of the amount procured.

We have presence in 267 locations spread across 111 cities through a network of branches and franchisees.

Fund based activities:

The overall funding book stood at Rs. 6,118 Crore as on September 30, 2015 as against Rs.5,492 Croreas on June 30, 2015. The treasury book as on September 30, 2015 for the fixed income securities stood at Rs. 130 Crore. We continued efforts of diversifying our sources and maturities for our borrowing. Our long term borrowing as a proportion of total borrowing stood at around 30 % on September 30, 2015 as compared to 23 % on June 30, 2015.

In the asset reconstruction business, during the quarter, banks continued to announce portfolio auctions for offloading their NPA accounts. However, as with previous quarters, for ARC acquisitions, deal closure remained a challenge. We actively participated in several auction processes and also pursued single credit accounts with banks and promoters. We closed four deals during the quarter – three as part of debt aggregation and one fresh acquisition. Recovery efforts for acquired accounts continued and majority of the recovery came from restructured accounts and settlement with borrowers. We are focused on resolution and restructuring of our largest acquisition of single account viz., Hotel Leelaventures. We are hopeful to achieve the resolution in stages over coming two to three quarters.

Alternative Asset Management:

At the end of the quarter, the combined AUM/AUA of our private equity and real estate funds stood at around Rs.900 crore.

JM Financial India Fund (the Fund), our private equity fund continues to work closely with its portfolio companies in helping them grow their businesses as well as to seek exit opportunities. As on September 30, 2015, the Fund has returned an aggregate 71.70 % of the capital contribution received from its Investors in Indian Rupee terms.

Our Real Estate Fund too continues to work closely with the portfolio companies to seek suitable exit opportunities.

As on September 30, 2015, the domestic scheme of the Real Estate Fund has returned an aggregate 50% of the capital contribution received by it and the offshore scheme has returned 41% of its capital contribution in Indian Rupee terms.

Asset Management:

The domestic investors have reposed their faith in Indian equities which is reflected in our AUM in most of the Equity Schemes. As a matter of fact, our Equity Schemes have been doing consistently well and most of these schemes have performed better in the volatile market conditions.

We are focused on a disciplined investment approach.

The average AUM in our Mutual Fund during the quarter September 30, 2015 stood at Rs. 15,858 crore, under Equity schemes was at Rs. 9,741 crore and under the Debt Schemes was at Rs. 6,117 crore.

Rating:

CRISIL has upgraded long term rating for JM Financial Group to ‘CRISIL AA/Stable’ (upgraded from CRISIL AA-/Positive) which is so far the best long term rating by CRISIL amongst the Industry peers.

Awards and Recognition:

JM Financial Singapore Pte Ltd was awarded “Dealmaker of the Year” for Altran Acquisition of Foliage Inc at The Acquisition International 2015 M&A Awards.

JM Financial Services Limited has also been recognised as the Best Performing National Financial Advisor – Institutional by UTI & CNBC.

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Forward - Looking statements

This press release (‘document’) containing JM Financial Group’s activities, projections and expectations for the future, may contain certain forward-looking statements based upon the information currently available with the Company or any of its subsidiaries and associate companies. The financial results in future may vary from the forward-looking statements contained in this document due to uncertainties and unforeseen events that may impact the businesses of the JM Financial Group. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events.

This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and neither JM Financial Group nor any of their directors or employees will be liable in any manner for the consequences of such actions.

To provide cross-border Investment Banking Advisory services to corporate clients in aviation and Aerospace & Defense

Mumbai, August 17, 2015: JM Financial Institutional Securities Limited (JM Financial) and Seabury Corporate Finance LLC, a subsidiary of Seabury Group LLC, announced today, it has agreed to enter into a strategic co-operation to provide Investment Banking advisory services to Indian corporates for their activities in the Aviation, Aerospace, and Defense business.

The year 2014, has been pivotal for the Indian Defense sector. The country’s decisive election mandate, rise in Foreign Direct Investments from 26 to 49 percent, increased resolve towards ‘Make in India’ and level playing field to the private sector can fundamentally alter the face of defense equipment manufacturing in India, thus accelerating its participation in the global Aerospace industry.

The MoU signed between JM Financial and Seabury will enable co-operation among the two parties in laying the foundation for significant expansion in Aviation, Aerospace, and Defense related Investment Banking Advisory in India.

Under the agreement, JM Financial and Seabury will jointly provide Investment Banking Advisory services to each party’s clients who may be seeking investment opportunities or may like to identify suitable strategic partnerships for their respective businesses. Both companies will seek to leverage their client relationships, as well as their regional and domestic expertise in a mutually beneficial manner.

Mr. Vishal Kampani, MD & CEO, Institutional Securities Business – JM Financial Group, commented: "A partnership between JM Financial and Seabury will enable both parties to add significant value to their clients by leveraging each other’s individual expertise and sharing distinctive local market and domain knowledge. Current Government, under the leadership of Prime Minister Narendra Modi, is planning and implementing systemic changes in India’s defense procurement policy to provide an impetus to domestic production, thereby offering immense business opportunities to private sector in defense and aviation. JM Financial’s strong advisory and execution capabilities along with Seabury’s Aviation sector knowledge and expertise will enable both parties to provide its clients with valuable advice and service. We are delighted to partner with Seabury.”

Mr. Patrick Henry Dowling, Senior Managing Director, Seabury Corporate Finance LLC, commented: “This strategic partnership lays the foundation for a successful cooperation between our firms to jointly deliver a wide array of specialized advisory services to India’s growing Aviation and A&D sectors as well as the country’s government. Seabury recognizes the depth, breadth, and value of relationships JM Financial brings to our partnership, and we look forward to identifying and targeting opportunities that will leverage our companies’ core competencies and extensive industry expertise to benefit India’s institutional and individual clients.”

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Background information on JM Financial Group and Seabury Group LLC

JM Financial Group

JM Financial is an integrated financial services group, offering a wide range of services to a significant clientele that includes corporations, financial institutions, high net-worth individuals and retail investors. The Group has interests in investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, NBFC (Non-Banking Finance Company) activities, private equity and asset reconstruction. For further information, please refer to www.jmfl.com

Seabury Group LLC

Seabury Group LLC is a global firm founded in 1995 with two principal groups, Seabury Advisory Group LLC (“SAG”) and Seabury Capital LLC (“SeaCap”). SAG is a global advisory practice with professionals on five continents and more than 15 countries covering Aviation, Aerospace & Defense, Financial Services, Government, Insurance, Logistics, Maritime, Transportation and related industries. SAG has partnered with more than 300 clients located in more than 50 countries on more than 1,150 engagements to solve complex challenges requiring consulting, investment banking, restructuring and/or information technology solutions.

For further information, please refer to www.seaburygroup.com

Mumbai, July 30, 2015: The Board of Directors of JM Financial Limited, at its meeting held today, considered and approved the unaudited financial results for the quarter ended June 30, 2015.

Consolidated Results – Key Highlights:

FY 16 – Q1 compared to FY 15 – Q1 (YoY)

• Total income increased by 44% to Rs. 383.02 crore from Rs. 266.40 crore
• Profit before tax increased by 74% to Rs. 145.83 crore from Rs. 83.79 crore
• Net profit after tax and before minority interest increased by 60% to Rs.100.23 crore from Rs.62.55 crore
• Net profit after tax, minority interest and share of associates increased by 24% to Rs. 72.35 crore from Rs. 58.35 crore

The Earnings per share and Diluted Earnings per share, for the quarter ended June 30, 2015 is Rs. 0.92 and Rs. 0.92 respectively (not annualised).

Commenting on the quarterly results, Mr. Nimesh Kampani, Chairman, JM Financial Group, said,

“The Indian economy is witnessing signs of improvement in the macroeconomic front well supported by a rate cut, reduction in import bill on account of fall in the prices of crude oil and gold. We are optimistic that further improvement in the economy, driven by a lower rate regime and greater targeted public spending on infrastructure, will begin to yield positive results in the coming quarter.

During the quarter, we sustained the momentum in our profitability and revenue growth. Fee based business has been a significant contributor to our financial performance during the quarter.

We are making good progress in our strategy to drive growth, improve efficiency and shape our mix of business to continue to deliver the superior returns.”

Business Update

Investment banking and securities business:

During the quarter our Investment banking business executed the following deals:

• Acted as Sole Global Coordinator and BRLM to Qualified Institutional Placement by Bajaj Finance Limited – Rs. 1,400 crore.
• Acted as selling broker to the Offer for Sale by Rural Electrification Corporation Limited – Rs.1,610 crore.
• Acted as managers to the rights issue of GMR Infrastructure Limited – Rs.1,402 crore.
• Provided fairness opinion in relation to the merger of Cairn India into Vedanta Limited - Rs. 13,833 crore.
• Provided fairness opinion in relation to the demerger of Madura Garments (branded apparel business housed in Aditya Birla Nuvo) into Pantaloons Fashion & Retail Ltd - Rs. 7,745 crore.
• Provided fairness opinion in relation to the scheme of arrangement involving the transfer of Godrej Industries Limited’s stake in Godrej Vikhroli Properties LLP to Godrej Properties Limited – Rs. 436 crore.

The pipeline of our investment banking business continues to remain healthy with several mandated transactions under execution.

The Institutional Equities Business saw higher growth trajectory and good client interaction during the quarter.

In the wealth management business, the assets under management stood at Rs.20,205 Crore as on June 30, 2015.

In the distribution business, we have a large network of approximately 7,650 active Independent

Financial Distributors (IFDs) who distribute various financial products across the country. We have presence in 265 locations spread across 113 cities through a network of branches and franchisees. During the quarter, we mobilised more than Rs. 900 Crore in fixed deposit schemes and fixed income products of various companies.

Fund based activities:

We continued funding activities in the areas of loan against commercial real estate / properties and loan against securities. The overall funding book stood at Rs. 5,492 Crore as on June 30, 2015. The treasury book as on June 30, 2015 for the fixed income securities stood at Rs. 137 Crore. We continued with our activities of debt-raising through various money market instruments having medium to long term maturities.

During the quarter, banks continued to auction their Non-performing Asset portfolios. Last year’s first quarter had seen heavy acquisition activity owing to collective sale of a few large accounts by banks to Asset Reconstruction Companies. However, following the trend of last 3 quarters, the acquisition activity continued to be subdued in this quarter too. We participated in several auction processes and also actively pursued single credit accounts. We closed few deals as part of our debt aggregation efforts. Recovery efforts continued by way of restructuring of accounts, settlement with Borrowers, sale of assets and initiation of legal action. With Reserve Bank of India’s continuous efforts to create a conducive regulatory and business environment for ARCs, the outlook for our ARC business looks promising.

Alternative Asset Management:

At the end of the quarter, the combined AUM/AUA of our private equity and real estate funds stood at around Rs.900 crore.

JM Financial India Fund (the Fund), our private equity fund is working very closely with its portfolio companies in helping them grow their businesses as well as to seek exit opportunities.

Our real estate fund is currently focusing on exiting from the portfolio companies. The fund is working with the promoters and the management of the portfolio companies to seek suitable exit opportunities in respect of the investments made by it.

As of June 30, 2015, the domestic scheme of the Fund has returned an aggregate 50% of the capital contribution received by it and the offshore scheme has returned 13% of its capital contribution in Indian Rupee terms.

Asset Management:

The average AUM in our Mutual Fund as on June 30, 2015 stood at Rs. 11,676 crore. The average AUM under Equity schemes was at Rs. 6,414 crore and under the Debt Schemes was at Rs. 5,262 crore.

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Forward - Looking statements

This press release (‘document’) containing JM Financial Group’s activities, projections and expectations for the future, may contain certain forward-looking statements based upon the information currently available with the Company or any of its subsidiaries and associate companies. The financial results in future may vary from the forward-looking statements contained in this document due to uncertainties and unforeseen events that may impact the businesses of the JM Financial Group. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events.

This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and neither JM Financial Group nor any of their directors or employees will be liable in any manner for the consequences of such actions.

Mumbai, May 13, 2016: The Board of Directors of JM Financial Limited, at its meeting held today, considered and approved the audited financial results for the year ended March 31, 2016. The Board recommended final dividend of Re.  0.85 for each equity share of the face value of Re.1/- each. The total dividend for the financial year 2015-16 would be Rs. 1.45 per share including interim dividend of Re. 0.60 paid by the Company.

Q4 - FY 16 compared to Q4 - FY 15

(Rs. in crore)

FY 16 compared to FY 15

  (Rs. in crore)

The Earnings per share and Diluted Earnings per share, for FY 16 is Rs. 5.08 and Rs.5.04 respectively. The consolidated net worth as at March 31, 2016 stands at Rs. 2,804 crore and the debt equity ratio is 2.4 times. The net debt equity ratio is 2.1 times.

Commenting on the results and financial performance, Mr. Nimesh Kampani, Chairman, JM Financial Group, said,

“In the context of the long term sustained growth objective of the government, the focus on infrastructure and rural sectors in the budget was a step in the right direction. The decision of rate cut by the Reserve Bank of India in its bi-monthly monetary policy was also a welcome step to incentivise the economy.

India is projected to become the world's fastest growing economy by 2017 and is expected to sustain such growth over foreseeable timeframe.. Therefore despite the uncertainty in emerging and global markets, Indian markets will still offer tremendous wealth creation opportunities for the Investors.

We delivered sound results this year as well. Looking at the performance for the full year, the fund based businesses and asset management business have done reasonably well.  It reflects our ongoing strategy to build platforms for growth while continuing focus on maintaining leadership in the advisory business. We also remain focused on maintaining prudent risk profile and building on our core values.

As we enter into the next financial year, while our priorities remain the same with an addition of focus to leverage on evolving opportunities in technology backed platforms that can be complimentary to our businesses.”

Business Update

Investment banking and securities business:

Investment Banking business continues to grow with a robust deal pipeline and several mandated transactions under execution. The business saw closure of long running transactions during this quarter. Given our in-depth understanding of the industry and Capital Markets, we continue to lead in the industry with customised advisory solutions.

During the quarter our Investment banking team executed the following deals:

• As BRLM for Qualified Institutional Placement by Suprajit Engineering Limited – Rs 150 crore

   

• As financial advisor to Bain Capital for its investment in QuEST Global Services Pte Ltd.

   

• As Financial advisor and manager to the delisting offer made by Essar Oil Limited.

   

• As Sole financial advisor to Hotel Leelaventures Limited on the closure of the Leela, Goa to Medtube Group.
• As Sole financial advisor and merchant banker to Reliance Infrastructure Limited for their open offer to the shareholders of Pipavav Defence and Offshore Engineering Company Limited.
• As advisor and arranger for a Private Equity investment round for a leading healthcare distribution company.

Our Institutional Equities business continued to focus on strengthening our client relationships across geographies and adding new clients. Our international offices in New York, Singapore and Mauritius have clearly helped deepen our relationships with marquee global funds. 

During the quarter, the Institutional Equities business hosted its 6th annual investor conference in New York in March 2016.  The conference was extremely well received with strong participation from both leading corporates and large institutional investors. 

The business also continues to expand and deepen its research product across a wide spectrum of sectors and companies and latest technology enhancements across functions. 

Investment Advisory and Distribution business offers wealth management, equity brokerage and Independent Financial Distribution services.

Wealth management business offers wealth management services to High Net worth, Ultra High Net worth & Corporate clients and follows model of asset allocation and custody services. Open product architecture through combination of in-house offerings and third party products positioned JM Financial as “Unbiased trusted advisor” to the clients. We follow a hub and spoke model where the smaller cities are covered by the team based in our offices in 7 major cities.

The AUM of our wealth management business stood at over Rs. 26,958 crore as on March 31, 2016. We have presence in 7 major cities in India (Mumbai, New Delhi, Bangalore, Hyderabad, Kolkata, Ahmedabad and Pune) with team of more than 50 experienced wealth advisors catering to Ultra High Net worth families, High Net Worth families and corporate treasuries.

Our Equity brokerage business offers equity sales and trading services to HNIs, Corporates and Retail clients. This group is supported by technical and fundamental research teams who generate Investment and derivative strategists who generate Investment and Trading ideas.

We have presence in 260 locations spread across 111 cities through a network of branches and franchisees.

In the distribution business, we have a large network of over 8,300 active Independent Financial Distributors (IFDs) who distribute various financial products across the country. During the quarter, we helped corporates mobilise more than Rs. 930 Crore in fixed deposit schemes and fixed income products.

Mutual fund mobilization was to the tune of Rs.30,846 crore and IPO distribution was to the tune of Rs.2,922 crore during the quarter.

Fund based business:

The overall lending book stood at Rs. 7,214 crore as on March 31, 2016 as against Rs.5,388 crore as on March 31, 2015. Out of the total lending book, the real estate lending was Rs.5,629 crore whereas the non-real estate lending was Rs.1,586 crore. The treasury book as on March 31, 2016 for the fixed income securities stood at Rs. 257 crore. We continued our efforts of diversifying our sources and maturities for our borrowing profile. Our long term borrowing as a proportion of total borrowing stood at approximately 37 % on March 31, 2016. Our commercial real estate funding focus is on Tier - 1 cities, viz., Mumbai, Pune, Bangalore and Chennai. We plan to selectively enter into new geographies to expand our business. The Budget proposal to extend the recovery powers to NBFC’s under the SARFESI Act will help our risk mitigation and recovery processes.

During the quarter, the asset reconstruction business actively participated in several NPA auction processes and also initiated discussions with banks for acquiring non-performing assets. This was a good quarter in terms of acquisition. We closed nineteen deals – nine fresh acquisitions and ten deals as part of debt aggregation. Focused efforts were made towards resolution of our acquired portfolio and majority of the recovery came from restructured accounts.

Recognising the role of Asset Reconstruction Companies (ARCs) in dealing with high level of stress in the Indian banking system, the Budget also addressed a long standing demand from the ARCs to enable sponsors to hold up to 100% stake in an ARC. In addition, the Budget has also allowed 100% FDI in ARCs through automatic route. These provisions will open up avenues for ARCs and facilitate them to strengthen the capital base and effectively participate in the huge NPA market in India. Allowing non-institutional investors to invest in SRs and removing the 74% investment cap in each scheme of SRs for FPIs will lead to increase in the depth of Security Receipts market. The budget also provides clarity on taxation in the hands of Trusts set up by ARCs and confers a pass-through status to the Trusts. Passing of the Bankruptcy Law is another positive development towards NPA resolution.

With persistent high level of NPAs, improving economic scenario and increasing recognition for the role of ARCs, the outlook for the business looks promising. We will continue to focus on acquisition of accounts with revival potential and restructuring & resolution of our acquired portfolio.

Alternative Asset Management:

At the end of the quarter, the combined AUM/AUA of our private equity and real estate funds stood at around Rs. 770 crore.

Both the private equity fund and real estate fund continue to work closely with its portfolio companies to seek exit opportunities.

The Private Equity Fund returned an aggregate 74.90% of the capital contribution received from its Investors in Indian Rupee terms.

The domestic scheme of the Real Estate Fund returned an aggregate 54% of the capital contribution received by it and the offshore scheme returned 49% of its capital contribution both in Indian Rupee terms.

Asset Management:

We offer a bouquet of 17 mutual fund schemes across the risk-return spectrum that cater to the specific needs of both institutional and non-institutional investors. Our risk and fund management framework allows us to effectively manage risk while generating high quartile returns across the product categories that we offer. 

The average AUM of our Mutual Fund schemes during the quarter ended March 31, 2016 stood at Rs. 16,161 crore. Out of this AUM, the AUM in the equity schemes was at Rs. 7,114 crore, under the Arbitrage scheme at Rs 2,966 crore and the AUM of the debt schemes stood at Rs. 6,081 crore.

-ends-

The audited financial results are attached. Both, the press release and audited financial results are available on our website www.jmfl.com

About JM Financial

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The Group’s businesses include investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, fixed income broking, non-banking finance products, private equity and asset reconstruction.  For more information, log on to www.jmfl.com or contact:

Forward - Looking statements

This press release (‘document’) containing JM Financial Group’s activities, projections and expectations for the future, may contain certain forward-looking statements based upon the information currently available with the Company or any of its subsidiaries and associate companies. The financial results in future may vary from the forward-looking statements contained in this document due to uncertainties and unforeseen events that may impact the businesses of the JM Financial Group. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events.

This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and neither JM Financial Group nor any of their directors or employees will be liable in any manner for the consequences of such actions. 

JM Financial’s consolidated revenue is up YoY by 24% and consolidated net profit up by 19­% for the quarter ended June 30, 2016.

Mumbai, August 2, 2016: The Board of Directors of JM Financial Limited, at its meeting held today, approved the unaudited financial results for the first quarter ended June 30, 2016.

Summary of Consolidated quarterly results

 (Rs. in crore)

The Earnings per share and Diluted Earnings per share, for the said quarter is Rs. 1.09 and Rs. 1.08 respectively (not annualised). The consolidated net worth as at June 30, 2016 stands at Rs. 2,894 crore and the debt equity ratio is 2.3 times.

Nimesh Kampani, the founder and Chairman of JM Financial Group announced his decision to retire from executive role at the Group with effect from September 30, 2016 on his attaining 70 years of age. Mr. Kampani will continue to be the non-executive Chairman for the Group and a director on the Board of Directors of a few Group Companies at JM Financial.

The Board of Directors at their meeting today appointed Vishal Kampani as the Managing Director of JM Financial Limited, the listed holding company with effect from October 1, 2016. Vishal Kampani has been actively engaged with business at JM Financial since last 20 years and is the Managing Director of the Group’s NBFC JM Financial Products Limited and heads the Institutional Securities Business currently. With his appointment as Managing Director of JM Financial Limited, he is set to assume oversight on all the businesses in the Group.

Commenting on the results and financial performance, Mr. Nimesh Kampani, Chairman, JM Financial Group, said…

“Given the improving macroeconomic environment backed by low oil prices, stable currency, normal monsoon and attention to revive investment projects, the country is poised for sustained growth over the long term.

The group’s fund based business has performed well during the quarter. Our focus on asset quality and net interest margin provides a solid foundation to our growth in the fund based business. As the consumption demand for funding increases, we expect to increase our lending book consistently.

We have also enhanced our focus on wealth management business and value added services for our clients. We firmly believe that our skills to deliver differentiated and tailor made solutions to our clients gives us an edge and we continue to leverage on the same.

Technology has become a major enabler for growth in the financial services sector. We have taken some initiatives in the sector. We will also continue to leverage evolving opportunities in the technology-backed platforms.”

Speaking on the change at the helm of the Group, Mr. Kampani said

“I believe that it is important for all businesses to implement a proper succession plan and I am committed to follow the same. With this in mind, I have decided to retire from executive role with effect from September 30, 2016 when I turn 70.

While I will continue to remain an integral part of the Group, it will be in a purely non-executive position as the Chairman of the Group and as a director on the Board of Directors of a few companies.

Vishal will lead the Group strategy in his position as Managing Director of the holding company, JM Financial Limited. The Board will continue to remain actively engaged with the business as always with continued focus on value based and compliant business practices for calibrated growth. All the Business Unit leaders will continue to lead the business working closely with Vishal.

I would, at this juncture in my life, like to spend more time and efforts on socially relevant activities. And surely on the activities that I truly enjoy but never found time for. Accordingly, I

will continue to spearhead the CSR efforts of the Group and the activities of JM Financial Foundation.”

Business Update

Investment banking and securities business:

The Investment Banking business continues to grow with a robust deal pipeline and several mandated transactions under execution. Our approach is relationship driven and we continue to build on areas of competitive advantage and continue to add value to our clients with our advice.

During the quarter, our Investment banking team executed the following deals:

• BRLM for Initial Public Offer of Thyrocare Technologies Limited – Rs 479 crore.

   

• BRLM for Initial Public Offer of Parag Milk Foods Limited – Rs 750 crore.

   

• Lead Manager for Unsecured Subordinated Redeemable Non-convertible Debentures of Mahindra &     Mahindra Financial Services Limited – Rs 1,000 crore.

   

• Sole financial advisor to Vertex Group Limited (UK), on the sale of Vertex Customer Management India Ltd, an Indian BPO Company, to Altruist Technologies Ltd, a telecom value added service company.

   

• Sole financial advisor to TransUnion LLC for increasing its stake in Credit Information Bureau India Limited (CIBIL).

Our Institutional Equities business saw increased client interaction during the quarter.  

India continues to attract significant equity flows from both foreign and domestic investors and the Institutional Business is well geared for this opportunity.  The business continues to focus on expanding research coverage and deepening client relationships across geographies.  Our international offices in Mauritius, Singapore and USA have also helped us to establish new relationships with investors focused on the Indian equity markets.

Investment Advisory and Distribution business offers Wealth Management, Equity Brokerage and Distribution Services.

Wealth Management business offers wealth management services to High Net worth families, Ultra High Net worth families & corporate treasuries and follows model of asset allocation and

custody services. The AUM of our wealth management business stood at Rs. 23,755 crore (excluding custody assets) as on June 30, 2016.

Equity Brokerage business offers equity sales and trading services to High Net worth Individuals, Corporates and Retail clients. This group is supported by technical and fundamental research teams and derivative strategists who generate Investment and Trading Ideas. We have increased our presence to 259 locations spread across 114 cities through a network of branches and franchisees.

In the Distribution business, we have a large network of over 8,300 active Independent Financial Distributors (IFDs) who distribute various financial products across the country. During the quarter, we helped corporates mobilise approximately Rs.1,000 crore in fixed deposit schemes and fixed income products.

Fund based business:

The overall lending book stood at Rs. 7,334 crore as on June 30, 2016. Out of the said lending book, the real estate lending book stood at Rs.5,670 crore and the capital market and other lending book at Rs.1,664 crore. We continued our efforts of diversifying our sources and maturities for our borrowing profile. Our long term borrowing as a proportion of total borrowing stood at approximately 44 % on June 30, 2016. Our commercial real estate funding focus is on Tier - 1 cities, viz., Mumbai, Pune, Bangalore and Chennai. We plan to selectively enter into new geographies to expand our business.

In light of the prevailing stress in the economy, we have been extremely selective and continue to remain focused on the asset quality.

During the last quarter, the asset reconstruction business participated in several NPA auction processes, initiated discussions with banks and also conducted due diligence for acquiring non-performing assets. Bids were submitted for several accounts. No fresh acquisitions were made during the quarter Overall Industry activity was low owing to first quarter of the year

and Banks were awaiting extension of guidelines relating to treatment of loss on sale of assets to ARCs. Nevertheless, we sustained our focus on resolution and recovery of our acquired portfolio and majority of the recovery came from restructured accounts.

National Company Law tribunal (NCLT) & NCLAT have been set up for faster resolution of corporate disputes. NCLT and NCLAT will pave the way for faster implementation of the bankruptcy Law passed in May 2016 and is another positive step towards NPA resolution. The Reserve Bank of India also notified S4A Scheme (Scheme for Sustainable Structuring of Stressed Assets) which aims at financial restructuring of projects having a chance of sustained revival. The Reserve Bank of India also extended the time-frame to spread over the shortfall arising out of sale of bad assets to securitisation companies/ARCs at a price below the net book value to March 2017.

The above augurs well for the industry and shows the commitment of the regulator and Government towards resolving the stretched NPL position. We continue to focus on acquisition of new accounts with revival potential and with the objective of resolution of our acquired portfolio.

Alternative Asset Management:

At the end of the quarter, the combined AUM/AUA of our private equity and real estate funds stood at around Rs.751 crore.

Both the private equity and real estate funds continue to work closely with their portfolio companies to seek exit opportunities.

As on June 30, 2016, the private equity fund had returned an aggregate of 74.90 % of the capital contribution received from its Investors in Indian Rupee terms.

As on June 30, 2016, the domestic scheme of the Real Estate Fund had returned an aggregate of 54% of the capital contribution received by it and the offshore scheme returned 49% of its capital contribution in Indian Rupee terms.

Asset Management:

We offer a bouquet of 17 mutual fund schemes across the risk-return spectrum that caters to the specific needs of both institutional and non-institutional investors. Our risk and fund management framework allows us to effectively manage risk while generating high quartile returns across the product categories that we offer.

The average AUM of our Mutual Fund schemes during the quarter ended June 30, 2016 stood at Rs. 12,756 crore; comprising Rs. 6,253 crore in equity schemes Rs. 6,503 crore in debt schemes.

Awards and Recognitions:

JM Financial Institutional Securities Ltd has emerged as `QIP Dealmaker of the Year’ in the BW-PwC I-banking Survey 2016.

JM Financial Services Limited was recognized as the “Best performing National Financial Advisor- Institutional” at the ‘UTI MF and CNBC TV-18 Financial Advisor Awards 2015-16’.

JM Financial Services Limited was also recognised by National Stock Exchange, amongst the Top 10 performers in the Cash Segment for the year 2015-16.

In the Great Place To Work 2016 survey, JM Financial Asset Management Limited and JM Financial Services Limited featured among the Great Places to work in India.

While JM Financial Asset Management Limited was ranked among Top 100 in India's Best Companies To Work For 2016 category, JM Financial Services Limited was ranked as the best in the Investments Industry category.

-ends-

The unaudited financial results are attached. Both, the press release and unaudited financial results are available on our website www.jmfl.com

About JM Financial

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The Group’s businesses include investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, fixed income broking, non-banking finance products, private equity and asset reconstruction.  For more information, log on to www.jmfl.com or contact:

Forward - Looking statements

This press release (‘document’) containing JM Financial Group’s activities, projections and expectations for the future, may contain certain forward-looking statements based upon the information currently available with the Company or any of its subsidiaries and associate companies. The financial results in future may vary from the forward-looking statements contained in this document due to uncertainties and unforeseen events that may impact the businesses of the JM Financial Group. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events.

This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and neither JM Financial Group nor any of their directors or employees will be liable in any manner for the consequences of such actions. 

Mumbai, October 28, 2016: The Board of Directors of JM Financial Limited, at its meeting held today, approved the unaudited financial results for the quarter and half year ended September 30, 2016.

Summary of Consolidated results FY 17 – Q2 compared to FY 16 – Q 2

(Rs. in crore)

Summary of Consolidated results FY 17 – H1 compared to FY 16 – H1

 (Rs. in crore)

The Earnings per share and Diluted Earnings per share, for the half year ended is Rs. 2.54 and Rs. 2.52 respectively (not annualised). The consolidated net worth as at September 30, 2016 stands at Rs.3,012 crore and the debt equity ratio is 2.8 times. The book value per share is Rs.38.

Commenting on the results and financial performance, Mr. Vishal Kampani, Managing Director, JM Financial Limited, said,

“India is today one of the most vibrant global economies. A normal monsoon, control over inflation and the passage of GST, add to our optimism about India’s growth prospects. Corporate efforts at reorganising businesses to manage the debt servicing are a very welcome development for the economy and banking system.

The Group’s fund based business continued to perform well during the quarter and was the major contributor to the group’s profits. Our loan book was stable with steady NIMs and good asset quality. We continued to cautiously evaluate new opportunities in stressed assets space. We are very focused on growing our ARC business in a profitable manner over near term.

It was a good quarter for our Investment banking business as well, as we completed 6 capital markets and 5 M&A transactions and continue to grow with a robust deal pipeline with several mandated transactions under execution.”

Business Update

Investment banking, Wealth Management and Securities business

• Investment Banking

  The Investment Banking business continues to grow with a robust deal pipeline and several mandated transactions under execution. Our approach is relationship driven and we continue to build on areas of competitive advantage and continue to add value to our clients with our advice.

   

  During the quarter, our Investment banking team executed the following deals:

   

• BRLM for Initial Public Offer of ICICI Prudential Life Insurance Company Limited – Rs 6,057 crore.

   

• BRLM for Initial Public Offer of L & T Technology Services Limited – Rs 894 crore.

   

• BRLM for Initial Public Offer of Dilip Buildcon Limited – Rs 654 crore.

   

• BRLM for Qualified Institutional Placement by Motherson Sumi Systems Limited – Rs 1,993 crore.

   

• Manager to buy-back offer by Wipro Limited – Rs 2,500 crore.

   

• Manager to the open offer to the public shareholders of Mphasis Limited by Blackstone group.

   

• Sole financial advisor to TransUnion LLC for increasing its stake in TransUnion CIBIL Limited.

   

• Advisor to the Restructuring of the Promoter Group’s shareholding in Mafatlal Industries, NOCIL and Navin Fluorine.

   

• Fairness Opinion to the Board of Grasim on the Merger of Aditya Birla Nuvo with Grasim and the subsequent Demerger of the Financials Services business into Aditya Birla Financial Services.

   

• Fairness Opinion to the Board of State Bank of India on the schemes of acquisition of State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and Bharatiya Mahila Bank. The scale achieved from the merger is expected to catapult SBI into the list of the world's top 50 banks by asset size.

   

• Fairness opinion to the board of directors of The Bombay Dyeing and Manufacturing Company limited on merger of its wholly owned subsidiary, Archway Investments Limited.

   

• Wealth Management

 

 

Wealth Management business offers wealth management services to High Net worth families, Ultra High Net worth families & corporate treasuries and follows model of asset allocation and custody services. Open product architecture through combination of in-house offerings and third party products positioned JM Financial as “Unbiased trusted advisor” to the clients. We have presence in 7 major cities in India (Mumbai, New Delhi, Bangalore, Hyderabad, Kolkata, Ahmedabad and Pune) with team of more than 60 experienced wealth advisors. We follow a hub and spoke model where the smaller cities are covered by the team based in our offices in 7 major cities. The AUM of our wealth management business stood at Rs. 21,895 crore (excluding custody assets) as on September 30, 2016.

 

• Securities business

 

 

Equity Brokerage business offers equity sales and trading services to High Net worth Individuals, Corporates and Retail clients. This group is supported by technical and fundamental research teams and derivative strategists who generate Investment and Trading Ideas. We have presence in 259 locations spread across 115 cities through a network of branches and franchisees.

 

India continues to attract significant equity flows from both foreign and domestic investors and we are well geared for this opportunity.  The business continues to focus on expanding research coverage and deepening client relationships across geographies.  Our international offices in Singapore and USA have also helped us to establish new relationships with investors focused on the Indian equity markets.

 

In the Distribution business, we have a large network of over 8,300 active Independent Financial Distributors (IFDs) who distribute various financial products across the country. During the quarter, we helped corporates mobilise more than Rs.960 crore in fixed deposit schemes and fixed income products.

 

During the quarter, the average daily trading volume stood at Rs. 3,190 crore.

 

Fund based business

 

The lending book of JM Financial Products stood at Rs. 3,939 crore as on September 30, 2016. Out of the said lending book, the Corporate and capital market lending book stood at Rs. 2,148 crore and the real estate lending at   Rs. 1,791 crore.

 

During the quarter, in IPO financing business, we funded 13 IPO’s wherein the aggregate amount of funding was around Rs.20,000 crore.

 

The lending book of JM Financial Credit Solutions stood at Rs. 4,462 crore as on September 30, 2016 which majorly comprises of real estate lending book. Our commercial real estate funding focus is on Tier - 1 cities, viz., Mumbai, Thane, Pune, Bangalore, Chennai and Hyderabad. We plan to selectively enter into new geographies to expand our business. In light of the prevailing stress in the economy, we have been extremely selective and continue to remain focused on the asset quality.

 

We continued our efforts of diversifying our sources and maturities for our borrowing profile. Our long term borrowing as a proportion of total borrowing stood at approximately 40% on September 30, 2016.

 

We also propose to enter the housing finance business. We will leverage our experience in the real estate lending space in our foray into the housing finance business with a focus on affordable housing segment.

 

During the quarter, the asset reconstruction business saw Banks and even few NBFCs announcing various portfolio auctions. We actively participated in several auction processes and also pursued corporate accounts and bids were submitted for several accounts. We closed four deals during the quarter with two fresh acquisition and two deals as part of debt aggregation process. Fresh acquisition included a portfolio of 11 accounts. We made continuous effort for resolution of accounts by way of restructuring of accounts, settlement with borrowers and sale of Assets. Majority of the recovery during the quarter came from settlement of accounts.

 

The amendments in SARFAESI Act are aimed at faster recovery and resolution of bad debts by banks and financial institutions. In order to improve the framework for sale of stressed assets, the Reserve Bank of India issued a new guideline on Sale of Stressed Assets by Banks. The guideline lays down mechanism for timely identification of stressed accounts and appropriate actions to ensure there is low vintage, true sale and better price realisation for banks.

 

The above measure further emphasizes the resolve of the Regulator and Government towards improving the stretched NPL position.

 

JM Financial Asset Reconstruction Company Private Limited has become a subsidiary of the Company upon it acquiring an additional 0.01% equity shares.

 

Asset Management Business

 

Asset Management business comprises of Mutual fund, Private Equity Fund and Real Estate Fund.

• Mutual Fund

  We offer a bouquet of 17 mutual fund schemes across the risk-return spectrum that caters to the specific needs of both institutional and non-institutional investors. Our risk and fund management framework allows us to effectively manage risk while generating high quartile returns across the product categories that we offer.

           
  The average AUM of our Mutual Fund schemes during the quarter ended September 30, 2016 stood at Rs. 13,612 crore; comprising of Rs. 6,739 crore in equity schemes and Rs. 6,873 crore in debt schemes.

   

• Private Equity and Real Estate Fund

At the end of the quarter, the combined AUM/AUA of our private equity and real estate funds stood at around Rs.708 crore.

Both the private equity and real estate funds continue to work closely with their portfolio companies to seek exit opportunities.

As on September 30, 2016, the private equity fund has returned an aggregate of 75.90 % of the capital contribution received from its Investors in Indian Rupee terms.

As on September 30, 2016, the domestic scheme of the Real Estate Fund has returned an aggregate of 53.10% of the capital contribution received by it and the offshore scheme returned 48.50% of its capital contribution in Indian Rupee terms.

We have appointed a new CEO and initiated the process of launching a new Private Equity fund of approximately Rs.750-1,000 crore.

-ends-

Download the PDF version of the press release

About JM Financial

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The Group’s businesses include investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, fixed income broking, non-banking finance products, private equity and asset reconstruction. 

For more information, log on to www.jmfl.com or contact:

Forward - Looking statements

This press release (‘document’) containing JM Financial Group’s activities, projections and expectations for the future, may contain certain forward-looking statements based upon the information currently available with the Company or any of its subsidiaries and associate companies. The financial results in future may vary from the forward-looking statements contained in this document due to uncertainties and unforeseen events that may impact the businesses of the JM Financial Group. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events.

This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and neither JM Financial Group nor any of their directors or employees will be liable in any manner for the consequences of such actions. 

The Board of Directors declares an interim dividend of Re.0.65 per share of the face value of Re.1/- each.

Mumbai, January 23, 2017: The Board of Directors of JM Financial Limited, at its meeting held today, approved the unaudited financial results for the quarter and nine months ended December 31, 2016.

Summary of Consolidated results FY 17 – Q3 compared to FY 16 – Q 3

(Rs. in crore)

*Upon JM Financial Asset Reconstruction Company Private Limited (the ARC) becoming a subsidiary of the JM Financial Limited w.e.f. September 30, 2016, the profit and loss account is consolidated as a subsidiary from October 1, 2016 as compared to being an “Associate” till September 30, 2016.

Summary of Consolidated results FY 17 – 9 Months compared to FY 16 – 9 Months

 (Rs. in crore)

The Earnings per share and Diluted Earnings per share, for the nine months ended is Rs. 4.04 and Rs. 4.01 respectively (not annualized). The consolidated net worth as at December 31, 2016 stands at Rs.3,138 crore and the debt equity (equity+Minority Interest) ratio is 2.1 times. The book value per share is Rs.39.54.

Commenting on the results and financial performance, Mr. Vishal Kampani, Managing Director, JM Financial Group, said,

“The Indian economy witnessed a challenging period during the third quarter as it had to cautiously manoeuvre through the effects of Demonetisation. While this will have a near-term impact on the economy, the long term growth tailwinds remain intact.

The Group’s fund based business, primarily consisting of developer financing, was resilient. Decline in interest rates and passing of RERA (Real Estate Regulatory Act) will augur well for organised players like us to gain market share. We have made an application to NHB for our foray into housing finance business with a focus on affordable housing and continue to bolster our efforts in this space. Our ARC business successfully acquired a large NPA account of a real estate developer. Furthermore, we see strong pipeline of opportunities in the ARC space driven by RBI’s thrust on banks to significantly reduce their NPAs over the coming year. 

Our strong brand and established presence in the Investment banking business continued to generate good traction in Capital Markets & M&A transactions”

Business Update

Investment banking, Wealth Management and Securities business

Investment Banking

The Investment Banking business continues to grow with a robust deal pipeline and several mandated transactions under execution. Our approach is relationship driven and we continue to build on areas of competitive advantage and continue to add value to our clients with our advice.

During the quarter, our Investment banking team executed the following deals:

• BRLM for Initial Public Offer of PNB Housing Finance Limited – ~Rs 3,000 crore.
• Sole financial advisor to Tata Power Company Limited on acquisition of renewable assets portfolio of Welspun Energy Private Limited by Tata Power Renewable Energy Limited. This represents one of the largest deals in the power sector in India.
• Advisor to the Essar Group on the sale of controlling interest in Essar Oil to Rosneft.
• Exclusive financial advisor to Browntape Technologies on the fund raising from Gati Ltd.
• Exclusive sell-side advisor to Encyclopaedia Britannica Inc. on the sale of India curriculum business to Navneet Education Ltd.
• Sole arranger for a Rs. 500 cr mortgage backed debentures funding against inventory of residential apartments for Lodha Developers.

Wealth Management

Wealth Management business offers wealth management services to High Net worth families, Ultra High Net worth families & corporate treasuries and follows model of asset allocation and custody services. Open product architecture through combination of in-house offerings and third party products positioned JM Financial as “Unbiased trusted advisor” to the clients. We have presence in 7 major cities in India (Mumbai, New Delhi, Bangalore, Hyderabad, Kolkata, Ahmedabad and Pune) with a team of more than 70 experienced wealth advisors. We follow a hub and spoke model where the smaller cities are covered by the team based in our offices in 7 major cities. The AUM of our wealth management business stood at Rs. 22,337 crore (excluding custody assets) as on December 31, 2016.

Securities business

Equity Brokerage business offers equity sales and trading services to High Net worth Individuals, Corporates and Retail clients. This group is supported by technical and fundamental research teams and derivative strategists who generate Investment and Trading Ideas. We have presence in 269 locations spread across 114 cities through a network of branches and franchisees.

Inspite of heightened volatility in the equity markets on back of both local and global events, domestic funds have continued to see strong increase in inflows and this trend should augur well for the Indian Capital Markets.  While FII inflows may remain subdued in the near term, our on-ground presence in New York, Singapore and Mauritius is helping in strengthening our relationships with global investors.   Our strategy of further expanding our research coverage across sectors and companies continues unabated.

In the Distribution business, we have a large network of over 8,300 active Independent Financial Distributors (IFDs) who distribute various financial products across the country. During the quarter, we helped corporates mobilise more than Rs. 820 crore in fixed deposit schemes and fixed income products.

During the quarter, the average daily trading volume stood at Rs.2,947 crore.

Fund based business:

The lending book of JM Financial Products stood at Rs. 4,088 crore as on December 31, 2016. Out of the said lending book, the Corporate and capital market lending book stood at Rs. 2,174 crore and the real estate lending at   Rs. 1,914 crore.

During the quarter, in IPO financing business, we funded 5 IPO’s wherein the aggregate amount of funding was around Rs.5,306 crore.

The lending book of JM Financial Credit Solutions stood at Rs. 4,832 crore as on December 31, 2016 which largely comprises of real estate lending book. Our commercial real estate funding focus is on Tier - 1 cities, viz., Mumbai, Thane, Pune, Bangalore, Chennai and Hyderabad. We plan to selectively enter into new geographies to expand our business. In light of the prevailing stress in the economy, we have been extremely selective and continue to remain focused on the asset quality.

We continued our efforts of diversifying our sources and maturities for our borrowing profile. Our long term borrowing as a proportion of total borrowing stood at approximately 44 % on December 31, 2016.

During the quarter, the asset reconstruction business actively participated in several NPA auction processes announced by Banks/NBFCs and bids were submitted for several new and existing accounts. We concluded four deals during the quarter with one fresh acquisition and three deals as part of debt aggregation process. Our acquisition focus remains on large corporate accounts with potential of restructuring and revival. During the quarter, the Asset Reconstruction Business reported higher recoveries than previous two quarters from existing accounts and major recoveries achieved from restructuring of corporate accounts.

As per RBI’s recent Financial Stability report, the GNPA ratio of Banks increased to 9.1% in September 2016 from 7.8% in March 2016 pushing the overall Stressed Advances Ratio to 12.3% from 11.5%. The large borrowers registered significant deterioration in their asset quality. In view of the same, we expect increased NPA sale activity in the coming quarters.

In order to improve the framework for sale of stressed assets, the Reserve Bank of India in September 2016 issued a new guideline on Sale of Stressed Assets by Banks. The guideline lays down mechanism for timely identification of stressed accounts and appropriate actions to ensure there is low vintage of NPAs, higher provisioning on SRs by banks and better price realisation for banks. With effect from April 1, 2017 if a bank has invested in more than 50% of security receipts created against the sale of its own stressed assets, it has to set aside provision which is higher of Net Asset Value declared by Securitisation Companies / Reconstruction companies or underlying loans, assuming that the loans notionally continued in the books of the Bank as NPA. From April 1, 2018, the above threshold of 50% will stand reduced to 10%. On account of these guidelines, we expect banks to move from security receipt based sell down to cash based sell down.

The effective implementation of the Insolvency and Bankruptcy code and regulatory changes prompted by RBI will aid faster resolution for NPAs and augurs well for ARCs.

Asset Management Business:

Asset Management business comprises of Mutual fund, Private Equity Fund and Real Estate Fund.

Mutual Fund:

We offer a bouquet of 17 mutual fund schemes across the risk-return spectrum that caters to the specific needs of both institutional and non-institutional investors. Our risk and fund management framework allows us to effectively manage risk while generating high quartile returns across the product categories that we offer.

The average AUM of our Mutual Fund schemes during the quarter ended December 31, 2016 stood at Rs. 13,522 crore; comprising of Rs. 6,845 crore in equity schemes and Rs. 6,677 crore in debt schemes.

Private Equity and Real Estate Fund:

At the end of the quarter, the combined AUM/AUA of our private equity and real estate funds stood at around Rs. 680 crore.

Both the Private Equity and Real Estate Funds continue to work closely with their portfolio companies to seek exit opportunities.

As on December 31, 2016, the Private Equity Fund has returned an aggregate of 75.9% of the capital contribution received from its Investors in Indian Rupee terms.

As on December 31, 2016, the Real Estate Fund has returned an aggregate of 55.1% of the capital contribution received by it in Indian Rupee terms.

We have applied to SEBI for a Category II Alternative Investment Fund registration to launch a new Private Equity Fund, JM Financial India Fund II.  A new acquisition by JM Financial Products Limited of 24.50% equity shares in India Home Loan Limited (a company in the affordable housing finance segment) was announced on October 20, 2016.  JM Financial Products Limited intends to transfer this investment to JM Financial India Fund II when raised and the transfer will be done after factoring the carrying cost for the period it remains in the books of JM Financial Products Limited.

Awards

• JM Financial Services has been recognized by BSE Ltd., amongst the Top Performers in Primary Market Segment (IPO / FPO Bids members).
• JM Financial Services has been recognized by BSE Ltd., amongst the Top Performers in Sovereign Gold Bonds.

-ends-

The unaudited financial results are attached. Both, the press release and unaudited financial results are available on our website www.jmfl.com

About JM Financial

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The Group’s businesses include investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, fixed income broking, non-banking finance products, private equity and asset reconstruction.  For more information, log on to www.jmfl.com or contact:

Forward - Looking statements

This press release (‘document’) containing JM Financial Group’s activities, projections and expectations for the future, may contain certain forward-looking statements based upon the information currently available with the Company or any of its subsidiaries and associate companies. The financial results in future may vary from the forward-looking statements contained in this document due to uncertainties and unforeseen events that may impact the businesses of the JM Financial Group. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events.

This document is for information purposes only and any action taken by any person on the basis of the information contained herein is that person’s responsibility alone and neither JM Financial Group nor any of their directors or employees will be liable in any manner for the consequences of such actions. 

Aims to combine Charity with Fitness

Mumbai, February 12, 2017: JM Financial Foundation, the philanthropic arm of JM Financial Group, today successfully held its annual charity event “Walkathon 2017”. The event saw a huge turnout with many young professionals, philanthropists, fitness enthusiasts and employees of the group participating in the walk to spread the message of giving back to society. The Walkathon also helped promote the importance of walking as a step for being healthy.

The six-km walk along Marine Drive sea front, was flagged off by Mr. Nimesh Kampani, Chairman, JM Financial Group, at 07.30 am.

The Walkathon has been instrumental in improving the lives of many since its inception. The event helps mobilize funds for various philanthropic activities carried out by the Foundation, thereby touching the lives of many needy people throughout the year. The funds thus raised are disbursed towards strengthening and uplifting the lesser privileged communities. Some of the key focus areas include Education, Healthcare and Animal Welfare.

Since 2015, we have extended the participation to the public and have launched a campaign through online platforms such as Facebook (www.facebook.com/JMFFWalkathon). This has helped amplify the message and reach out to a wider audience especially the youth.

This year, the event saw active participation from Corporates like Enrich Salons & Academy, PNB Housing Finance Ltd, as well as leading NGOs Akanksha Foundation, Ekam Foundation, Nanhi Kali and Yuva Parivartan.

Speaking on the occasion, Mr. Nimesh Kampani, Chairman, JM Financial Group said, “It’s time we celebrate walking and keeping healthy. The uniqueness of the event is that it combines charity with fitness. Every step we take today also sends a message about our commitment to give back something to our society. I wish to thank our clients, employees and all the participants who have supported us and helped us in making this event successful”.

About JM Financial Foundation

JM Financial has actively adopted Social Responsibility as a key component of its corporate citizenship. In our endeavour to uplift and make a positive contribution towards the lesser privileged communities, we have an organised structure in the form of our philanthropic arm - JM Financial Foundation. The main areas of focus include education, healthcare initiatives, disaster relief, skill development and animal welfare. The Foundation identifies and works alongside several NGOs to work on a number of outreach programs.

For more details:

Manali Pilankar

Corporate Communications

Email: manali.pilankar@jmfl.com

Phone –66303475 / 9702292446

JM Financial’s consolidated revenue is up by 52.77% and consolidated net profit is up by 32.63­% for the Q4 FY 17. Consolidated loan book crossed Rs.10,000 Cr and is at Rs.11,343 Cr for March 31, 2017 up by 57.21% with almost nil Net NPAs. The profit after tax for the Investment Banking, Wealth and Securities Segment increased by 77% for FY 17.

The Board of Directors declares a final dividend of Re. 0.85 per share of the face value of Re.1/- each.

Mumbai, May 02, 2017: The Board of Directors of JM Financial Limited, at its meeting held today, approved the audited financial results for the quarter and twelve months ended March 31, 2017.

Summary of Consolidated results FY 17 – Q4 compared to FY 16 – Q 4

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*Upon JM Financial Asset Reconstruction Company Limited (the ARC) becoming a subsidiary of the JM Financial Limited w.e.f. September 30, 2016, the profit and loss account is consolidated as a subsidiary from October 1, 2016 as compared to being an “Associate” till September 30, 2016.

Summary of Consolidated results FY 17 compared to FY

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