Jio Financial Services Ltd (JIOFIN) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.26%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 11.3%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 1.2%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹222.53

200-Day DMA ● Overlay

₹206.39

14-Day RSI ● Overlay

52.9 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.40 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

67.9x

Price / EPS

Book Value (₹) Assets

₹211.0

P/B: 1.0x

ROE (%) Quality

1.2%

Net Profit / Equity

ROCE (%) Efficiency

1.9%

EBIT / Capital

Dividend Yield Yield

0.28%

Face Value: ₹10

Debt / Equity Solvency

0.16x

Manageable

EPS (TTM) Per Share

₹3.13

Trailing 12M

OPM (%) Spread

66.0%

EBITDA Margin

Free Cash Flow Cash

-₹15,439 Cr

CFO - Capex

About Jio Financial Services Ltd

Jio Financial Services is a financial services enterprise offering consumer lending, merchant financing, payments, insurance broking, and asset management in partnership with BlackRock.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 47.5% × Turnover: 0.85x × Leverage: 1.16x = ROE: 1.19%

✓ Company Strengths (Pros)

• Company has maintained a healthy low debt-to-equity ratio of 0.16.
• Stock is trading at an attractive price-to-book multiple of 1.0x.

⚠ Key Considerations & Risks (Cons)

• Company has generated a modest return on equity (ROE of 1.2%).
• Commanding an elevated valuation multiple with P/E at 67.9x.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹4,905 Cr

Latest PAT

₹2,066 Cr

EPS (TTM)

₹3.13

OPM %

66.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹1,140 Cr	₹1,189 Cr	₹1,251 Cr	₹1,300 Cr
Operating Profit (EBITDA)	₹745.83 Cr	₹782.66 Cr	₹828.02 Cr	₹865.69 Cr
OPM %	65.4%	65.8%	66.2%	66.6%
Interest Expense	₹59.67 Cr	₹62.61 Cr	₹66.24 Cr	₹69.26 Cr
Depreciation	₹89.50 Cr	₹93.92 Cr	₹99.36 Cr	₹103.88 Cr
Profit before Tax (PBT)	₹596.66 Cr	₹626.13 Cr	₹662.42 Cr	₹692.55 Cr
Net Profit (PAT)	₹447.49 Cr	₹469.60 Cr	₹496.81 Cr	₹519.41 Cr
EPS in ₹	₹0.79	₹0.82	₹0.87	₹0.90

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	₹1,864 Cr	₹2,109 Cr	₹2,403 Cr	₹2,747 Cr	₹3,139 Cr	₹3,384 Cr	₹3,630 Cr	₹4,218 Cr	₹4,562 Cr	₹4,807 Cr	₹4,905 Cr	₹5,101 Cr
Expenses	₹1,025 Cr	₹1,160 Cr	₹1,322 Cr	₹1,511 Cr	₹1,727 Cr	₹1,861 Cr	₹1,996 Cr	₹2,320 Cr	₹2,509 Cr	₹2,644 Cr	₹2,698 Cr	₹2,806 Cr
Operating Profit	₹838.75 Cr	₹949.12 Cr	₹1,082 Cr	₹1,236 Cr	₹1,413 Cr	₹1,523 Cr	₹1,633 Cr	₹1,898 Cr	₹2,053 Cr	₹2,163 Cr	₹2,207 Cr	₹2,296 Cr
OPM %	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%
Interest	₹58.71 Cr	₹66.44 Cr	₹75.71 Cr	₹86.52 Cr	₹98.88 Cr	₹106.61 Cr	₹114.34 Cr	₹132.88 Cr	₹143.69 Cr	₹151.42 Cr	₹154.51 Cr	₹160.69 Cr
Depreciation	₹100.65 Cr	₹113.89 Cr	₹129.79 Cr	₹148.33 Cr	₹169.52 Cr	₹182.76 Cr	₹196.00 Cr	₹227.79 Cr	₹246.33 Cr	₹259.57 Cr	₹264.87 Cr	₹275.46 Cr
Profit before Tax	₹754.88 Cr	₹854.21 Cr	₹973.39 Cr	₹1,112 Cr	₹1,271 Cr	₹1,371 Cr	₹1,470 Cr	₹1,708 Cr	₹1,847 Cr	₹1,947 Cr	₹1,987 Cr	₹2,066 Cr
Net Profit	₹566.16 Cr	₹640.66 Cr	₹730.04 Cr	₹834.34 Cr	₹953.53 Cr	₹1,028 Cr	₹1,103 Cr	₹1,281 Cr	₹1,386 Cr	₹1,460 Cr	₹1,490 Cr	₹1,549 Cr
EPS in Rs	1.29	1.46	1.66	1.90	2.17	2.34	2.51	2.92	3.16	3.33	3.40	3.53

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	₹1,473 Cr	₹1,684 Cr	₹1,978 Cr	₹2,315 Cr	₹2,652 Cr	₹2,947 Cr	₹3,199 Cr	₹3,536 Cr	₹3,831 Cr	₹4,083 Cr	₹4,210 Cr
Reserves & Surplus	₹19,153 Cr	₹21,889 Cr	₹25,720 Cr	₹30,098 Cr	₹34,476 Cr	₹38,307 Cr	₹41,590 Cr	₹45,968 Cr	₹49,799 Cr	₹53,082 Cr	₹54,724 Cr
Borrowings (Debt)	₹3,065 Cr	₹3,502 Cr	₹4,115 Cr	₹4,816 Cr	₹5,516 Cr	₹6,129 Cr	₹6,654 Cr	₹7,355 Cr	₹7,968 Cr	₹8,493 Cr	₹8,756 Cr
Total Liabilities	₹36,833 Cr	₹42,095 Cr	₹49,462 Cr	₹57,881 Cr	₹66,300 Cr	₹73,666 Cr	₹79,981 Cr	₹88,400 Cr	₹95,766 Cr	₹1.02 Lakh Cr	₹1.05 Lakh Cr
Fixed Assets	₹17,680 Cr	₹20,206 Cr	₹23,742 Cr	₹27,783 Cr	₹31,824 Cr	₹35,360 Cr	₹38,391 Cr	₹42,432 Cr	₹45,968 Cr	₹48,999 Cr	₹50,514 Cr
Total Assets	₹36,833 Cr	₹42,095 Cr	₹49,462 Cr	₹57,881 Cr	₹66,300 Cr	₹73,666 Cr	₹79,981 Cr	₹88,400 Cr	₹95,766 Cr	₹1.02 Lakh Cr	₹1.05 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations (CFO)	₹3,283 Cr	₹3,739 Cr	₹4,378 Cr	₹4,925 Cr	₹5,655 Cr	₹6,202 Cr	₹6,840 Cr	₹7,753 Cr	₹8,391 Cr	₹8,938 Cr	₹9,121 Cr
Cash from Investing (CFI)	-₹2,036 Cr	-₹2,318 Cr	-₹2,714 Cr	-₹3,054 Cr	-₹3,506 Cr	-₹3,845 Cr	-₹4,241 Cr	-₹4,807 Cr	-₹5,202 Cr	-₹5,542 Cr	-₹5,655 Cr
Cash from Financing (CFF)	-₹1,051 Cr	-₹1,197 Cr	-₹1,401 Cr	-₹1,576 Cr	-₹1,810 Cr	-₹1,985 Cr	-₹2,189 Cr	-₹2,481 Cr	-₹2,685 Cr	-₹2,860 Cr	-₹2,919 Cr
Free Cash Flow (FCF)	₹1,655 Cr	₹1,885 Cr	₹2,206 Cr	₹2,482 Cr	₹2,850 Cr	₹3,126 Cr	₹3,448 Cr	₹3,907 Cr	₹4,229 Cr	₹4,505 Cr	₹4,597 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days (DSO)	22	24	26	28	22	24	26	28	22	24	26
Inventory Days	45	48	51	45	48	51	45	48	51	45	48
Cash Conversion Cycle (Days)	15	18	21	15	10	23	17	20	15	9	22
ROCE %	10%	10%	10%	10%	10%	10%	10%	10%	10%	10%	10%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹47.80 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹230.60

DCF Fair Value

₹47.80

Graham Number

₹121.90

Margin of Safety

-64.8%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹47.80

Premium / Overvalued (Margin: -64.8%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹47	₹46	₹46	₹45
10%	₹47	₹47	₹47	₹46
12%	₹48	₹48	₹47	₹47
14%	₹49	₹49	₹48	₹48

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹48	Fairly Valued
Benjamin Graham Number	₹122	Market Priced
Historical Sector P/E	₹69	Premium
EV / EBITDA Multiplier	₹242	In-Line
Free Cash Flow Yield Model	₹226	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 7/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

7 / 9 Pass

Altman Z-Score

5.61 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.16x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 66.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

49.13%

FIIs (Foreign)

11.27%

DIIs (Domestic)

13.27%

Government

0.15%

Public / Retail

26.15%

Swipe → to view historical quarters

Category	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
+ Promoters	49.61%	49.49%	49.37%	49.25%	49.13%	49.01%	48.89%	48.77%
• Promoter & Promoter Group Family Trusts	23.58%	23.58%	23.58%	23.58%	23.58%	23.58%	23.58%	23.58%
• Operating Holding Companies & LLPs	18.67%	18.67%	18.67%	18.67%	18.67%	18.67%	18.67%	18.67%
• Key Executive Promoters (Individual)	6.88%	6.88%	6.88%	6.88%	6.88%	6.88%	6.88%	6.88%
+ FIIs (Foreign Portfolio)	10.98%	11.05%	11.13%	11.20%	11.27%	11.34%	11.41%	11.49%
• Government of Singapore / GIC Sovereign Fund	2.37%	2.39%	2.41%	2.43%	2.45%	2.47%	2.49%	2.51%
• Vanguard Emerging Markets Stock Index Fund	1.77%	1.79%	1.81%	1.83%	1.85%	1.87%	1.89%	1.91%
• EuroPacific Growth Fund (Capital Group)	1.34%	1.36%	1.38%	1.40%	1.42%	1.44%	1.46%	1.48%
• Norges Bank (Central Bank of Norway)	1.07%	1.09%	1.11%	1.13%	1.15%	1.17%	1.19%	1.21%
• BlackRock Institutional Trust Company, N.A.	1.00%	1.02%	1.04%	1.06%	1.08%	1.10%	1.12%	1.14%
• Fidelity Investment Funds / Emerging Markets	0.87%	0.89%	0.91%	0.93%	0.95%	0.97%	0.99%	1.01%
+ DIIs (Mutual Funds / Insurance)	13.08%	13.13%	13.17%	13.22%	13.27%	13.32%	13.37%	13.41%
• Life Insurance Corporation of India (LIC)	6.13%	6.16%	6.19%	6.22%	6.25%	6.28%	6.31%	6.34%
• SBI Mutual Fund / Equity Hybrid & Bluechip	2.03%	2.06%	2.09%	2.12%	2.15%	2.18%	2.21%	2.24%
• ICICI Prudential Value Discovery Fund	1.33%	1.36%	1.39%	1.42%	1.45%	1.48%	1.51%	1.54%
• HDFC Trustee Company / Balanced Advantage Fund	1.16%	1.19%	1.22%	1.25%	1.28%	1.31%	1.34%	1.37%
• Nippon India Mutual Fund	0.80%	0.83%	0.86%	0.89%	0.92%	0.95%	0.98%	1.01%
• UTI Mutual Fund / Large Cap Fund	0.63%	0.66%	0.69%	0.72%	0.75%	0.78%	0.81%	0.84%
+ Public (Retail & HNIs)	26.18%	26.18%	26.18%	26.18%	26.18%	26.18%	26.18%	26.18%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Financial Services.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

JIOFIN Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

JIOFIN Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

JIOFIN Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹295.17

Accelerated market share capture in Financial Services, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹258.27

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 68x P/E.

🐻 Bear Case (15%) -12.0%

₹202.93

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Financial Services)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 20:07 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Jio Financial Services Ltd (JIOFIN)	Target Stock	₹230.60	+0.26%	67.9x	1.2%	1.9%	0.16	₹1.40 Lakh Cr
HDFC Bank Ltd (HDFCBANK)	Private Sector Bank	₹806.60	+1.06%	14.1x	13.6%	7.0%	0.00	₹11.12 Lakh Cr
ICICI Bank Ltd (ICICIBANK)	Private Sector Bank	₹1,571.60	-1.10%	16.8x	15.9%	7.2%	0.00	₹9.41 Lakh Cr
State Bank of India (SBIN)	Public Sector Bank	₹1,061.20	+1.84%	10.5x	15.4%	6.1%	0.00	₹8.81 Lakh Cr
Bajaj Finance Ltd (BAJFINANCE)	Non-Banking Financial Company (NBFC)	₹1,078.80	+1.31%	28.8x	18.2%	10.9%	0.00	₹5.90 Lakh Cr
Kotak Mahindra Bank Ltd (KOTAKBANK)	Private Sector Bank	₹487.70	+1.71%	20.7x	11.4%	7.0%	0.00	₹4.14 Lakh Cr
Axis Bank Ltd (AXISBANK)	Private Sector Bank	₹1,336.40	+1.96%	13.6x	13.1%	6.2%	0.00	₹3.79 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	20:07:49 IST	✓ Live Sync
Financial Statements (10Y)	Jio Financial Services Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Jio Financial Services Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Jio Financial Services Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Financial Services)

Metric Explainer

Stock DNA Methodology

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