JM Financial Limited — Others, 12-05-2025: Change in Management

JM Financial Limited has announced a board meeting on the approval of the audited consolidated and standalone financial results for the quarter and year ended March 31, 2025, with an unmodified auditor’s opinion. The company proposed a dividend of Rs. 2.70 per share, subject to shareholder approval. Key leadership changes include the appointment of Mr. Hariharan Ramamurthi Aiyar as Additional Non-Executive Director and Shroff Negandhi and Associates LLP as Secretarial Auditors for five years. The Private Wealth Business was transferred to wholly-owned JM Financial Services Ltd, alongside strategic moves to consolidate stakes in JM Financial Credit Solutions Ltd and JM Financial Asset Reconstruction Company Ltd, aiming to streamline operations and sharpen focus on investments and asset reconstruction. The group reported consolidated income of Rs. 1,027.21 Cr and net profit of Rs. 209.66 Cr for the quarter, with standalone income at Rs. 256.50 Cr and net profit of Rs. 134.55 Cr. Restrictions on new lead manager mandates for debt securities remain in place, with their impact pending.