JMJ Fintech Limited (JMJFIN.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+590.0%

₹64.10

vs ₹9.29 price

Levered DCF

-₹502.32

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.34

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	4.38×	3.16×	6.08×	11.57×	176.21×	-5.86×	-11.77×	-31.34×
P/B	0.59×	0.69×	0.83×	0.76×	0.73×	0.13×	0.38×	0.55×
P/S	1.51×	0.96×	1.74×	2.54×	13.45×	0.89×	1.99×	1.9×
EV / EBITDA	5.1×	3.63×	5.75×	11.31×	34.35×	-13.72×	-17.71×	-164.89×
Gross margin	82.8%	76.1%	76.5%	16.6%	25.3%	35.3%	31.1%	19.4%
Operating margin	46.6%	56.2%	52.6%	5.9%	31.0%	-12.0%	-15.9%	-1.9%
Net margin	34.5%	30.2%	28.7%	22.0%	7.6%	-15.3%	-17.1%	-6.1%
Current ratio	20.25×	51.19×	56.61×	150.13×	153.15×	16.03×	6.01×	2.67×
Debt / equity	0.58×	0.89×	0.67×	0.24×	0×	0.12×	0.18×	0.09×
Interest coverage	0×	114.68×	0×	2,349.44×	0×	-1.62×	-29.62×	-108.11×
Dividend yield	1.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	6.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.6%	21.9%	13.7%	6.6%	0.4%	-2.3%	-3.3%	-1.8%
Return on invested capital	8.5%	11.1%	8.0%	1.0%	1.7%	-1.7%	-2.6%	-0.5%
Return on assets	8.5%	10.8%	7.8%	5.3%	0.4%	-2.1%	-2.8%	-1.6%
Free cash flow yield	20.1%	-60.2%	-67.6%	-30.9%	26.3%	102.5%	-25.0%	-34.4%
Earnings yield	22.8%	31.6%	16.5%	8.6%	0.6%	-17.1%	-8.6%	-3.2%
Enterprise value	₹536.2M	₹355M	₹232.8M	₹113.7M	₹68.9M	₹28.2M	₹66.8M	₹77.9M
Net debt / EBITDA	1.94×	1.96×	2.55×	1.75×	-8.27×	-6.3×	-5.7×	-21.57×
Cash conversion cycle (days)	-24	-20	1,211	-11	5,686	2,438	2,154	346