Making meaningful strides amidst uncertainties
The year under review was marked with challenges and an evolving operational landscape.
Unpredictability has been the underlying theme in FY 2021-22 because of multiple pandemic
waves, inflationary pressure, market turbulence, geopolitical tensions, varying monetary
policy stances and economic impact of sanctions. Having said that, the fiscal and
liquidity measures and persistent policy support by the central bank steadied the nerves,
cushioned domestic equities and kept economic recovery on track.
The inherent resilience of the economy set the stage for us to leverage our strengths
and explore a multitude of possibilities to bring consistent growth to the ecosystem. The
strategic gear shifts and priorities we set out to achieve began bearing positive impact
during the year and we are excited to see what more can be achieved through our
diversified business model and accelerated use of technology and digitalisation.
Thanks to the improving business environment and on the back of strong capital market
business, we achieved the highest ever annual operating consolidated net profit in FY
2021-22.
In addition, our robust balance sheet position allowed us to deliver a strong loan book
in the quarter ended March 2022 especially in the bespoke and retail mortgage segment.
Our real estate loan book witnessed a higher than normal level of prepayments.
Throughout the year, we maintained strong liquidity buffers and adopted a solution-based
approach apart from rigorous credit monitoring and risk management mechanisms.
The year saw significant progress as we expanded our network to ~55 locations across
India. We are working towards keeping the momentum going and further expanding our
presence in FY 2022-23.
Going forward, we will continue to serve our clients with our diversified business
model driven by strong fundamentals while keeping a close watch on the evolving market
scenario. In the next phase of our growth as a leading, integrated financial services
business, our endeavour would be to support growth through realising emerging
possibilities.
We thank each one of you, our stakeholders, for reposing your continued trust and
support in our vision.
Mr. Vishal Kampani
Non-Executive Vice Chairman, JM Financial Limited Managing Director- JM Financial
Products Limited & JM Financial Credit Solutions Limited.