JM Financial Limited — Investor Meet, 04-06-2026: Analysts/Institutional Investor Meet/Con. Call Updates

JM Financial's FY26 PAT jumped 46% to INR 1,202 Cr, with a INR 5.95/share dividend. Management is upbeat on its strategic pivot, seeing solid 2-year revenue growth in core businesses. Capital markets face short-term volatility (INR 140,000 Cr IPO pipeline stalled), but H2 FY27 is seen as stronger. Private Markets target 15-20% loan book growth, moving towards fee-based syndication. Wealth Management is driving productivity, while Affordable Home Loans shows robust AUM growth (low NPAs), aiming for a 2028-29 IPO. Long-term, 15% revenue growth and 15% ROE are targets. Overall, a confident outlook despite market headwinds.