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Jio Financial Services

JIOFIN · Consumer Financial Services · INE758E01017

Analyst mean 0.00 · 0 analysts · 0% bullish
₹249.48
Close 2026-07-31 · Balanced risk

Reading the Statements forensic interpretation

What the numbers mean when read together — computed from the filings, not a score.

Profit is not turning into cash

Operating cash flow is just -747% of trailing profit — the classic pattern where reported earnings are not backed by cash. This is the single most important thing to understand on this page.

Full read

Operating cash flow ₹-15,439 cr against trailing net profit ₹2,066 cr. When profit rises but cash does not follow, the questions are: are receivables ballooning, is revenue being recognised ahead of collection, or are costs being capitalised?

Profit growing with revenue

Both revenue and profit grew over the last year (119.3% and 27.1%) — growth is translating to the bottom line.

Full read

Trailing revenue ₹4,905 cr, trailing profit ₹2,066 cr. Profit growing at least as fast as revenue indicates operating leverage or pricing power.

Net margin compressing

Net margin has narrowed from 53.1% to 41.4% year-on-year — profitability per rupee of sales is shrinking.

Full read

Quarter net margin 41.4% vs 53.1% four quarters earlier. Sustained compression signals pricing pressure, cost inflation, or mix deterioration.

Burning cash after capex

Free cash flow is negative — the business consumes more than it generates once capex is paid. Fine if it is deliberate growth investment; a problem if it is structural.

Full read

Latest free cash flow ₹-15,544 cr, negative in 3 of 4 years. Check whether the burn funds expansion (dark stores, plants, ports) or merely sustains operations.

Price & Valuation 10-year, split-adjusted

Markers show corporate actions (splits, bonus, dividends). Prices are split-adjusted so the series is continuous.

Valuation & Quality

Valuation
P/E (TTM) 73.4x
P/B 1.13x
P/S 37.76x
PEG growth cheap 0.27
Dividend Yield 0.21%
Leverage
Debt / Equity conservative 0.16
Payout Ratio 18.5%
Returns & Margins
Operating Margin (TTM) 59.6%
Net Margin (TTM) 49.8%
Return on Equity 1.1%
Implied Growth (Graham) growth the market is pricing in 32.5%
Rule of 40 287.1
Growth 227.5% + Margin 59.6% — passes

Ownership & Skin in the Game

Promoter49.13% ▲ 0.00
FII11.27%
DII
Mutual Funds4.95%

Quarterly Financials ₹ cr

MetricSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue6944384936129819011,0192,004
Expenses140125155156293346414607
Other Income22670716723836400
Depreciation66668889
Profit before tax773377396419783371339970
Net Profit689295316325695269272830
EPS1.080.460.500.511.090.420.431.26

Balance Sheet ₹ cr, annual

ItemMar 2023Mar 2024Mar 2025Mar 2026
Equity Capital26,3536,3536,353
Reserves114,118132,794117,143127,500
Borrowings74303,97021,768
Fixed Assets158172180418
CWIP3831413
Investments108,141133,292118,910133,089
Total Assets114,930144,863133,500163,497
DISCLAIMER: FinMinutes is a financial data and analytics platform, not a SEBI-registered investment adviser. Everything here is for educational and informational purposes. Forensic interpretations are computed from disclosed data and are not recommendations. Do your own due diligence.