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JM Financial Products Limited — Bonds & AA (CRISIL) Rating

NBFC · Financial Services

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
AA (CRISIL)
Most common current rating on senior bonds
7 of 8 rated · CRISIL, 31 Jan 2024
Total Debt Outstanding
₹1,592 Cr
Across 16 instruments
Active Bonds
16
First Issue
11 Sep 2019
Latest Issue
4 Jan 2024
Maturity Range
2026 - 2032
Observation
16 active bonds tracked from this issuer.
View details →
Coverage: Medium Data Quality: Medium Sources: NSE, BSE, SEBI, rating agencies
Issuer health card 2 items to look at
  • Current ratings CRISIL AA, CRISIL AA+, ICRA AA
  • Rating range Current ratings range from AA (CRISIL 31 Jan 2024, ICRA 30 Jun 2023) to AA+ (CRISIL 30 Nov 2023)
  • Rating direction, 12 months 0 upgrades, 0 downgrades
  • Watch / negative outlook None in 12 months
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating Dated 28 Aug 2026
  • Payment record No payment disclosures since 17 Jul 2026
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 0 of 16 active bonds had an exchange trade
  • Exchange filings, 90 days 0 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about JM Financial Products Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Financial Services
Issuer Type
NBFC
First Tracked Bond
11 Sep 2019
Start of this issuer's debt program timeline
  • 16 active bonds tracked from this issuer.
  • 16 of 16 tracked bonds with a stated security status are secured. (based on 16 bonds with a disclosed security status)
  • Most recent rating action: reaffirm by CRISIL on 28 Aug 2026.

JM Financial Products Limited, an NBFC in the Financial Services sector, is tracked on RetailBonds.in. Outstanding bonds carry coupons between 8.30% - 10.00%, paid annually. Maturities on outstanding bonds fall between 2026 - 2032.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
16
Tracked by RetailBonds
Amount Tracked
₹1,592 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 12 of 16 bonds)
Avg Coupon
8.87%
Range 8.30% - 10.00%
Avg Remaining Tenure
3.3 Yrs
Nearest maturity Nov 2026
Secured
100%
16 of 16 bonds with known status
Callable
0
Of 16 bonds

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (6 bonds).

0 2026: 3 bonds, ₹450 Cr tracked, avg coupon 8.94% 3 bonds 2026 2027: 1 bond, ₹200 Cr tracked, avg coupon 9.10% 1 bond 2027 2030: 4 bonds, ₹214 Cr tracked, avg coupon 9.13% 4 bonds 2030 2031: 6 bonds, ₹555 Cr tracked, avg coupon 8.69% 6 bonds 2031 2032: 2 bonds, ₹173 Cr tracked, avg coupon 8.65% 2 bonds 2032

Security Type / Instrument Mix

  • NCD 16 bonds · 100% · ₹1,592 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2020: ₹207 Cr issued 2020 2021: ₹562 Cr issued 2021 2022: ₹173 Cr issued 2022 2023: ₹450 Cr issued 2023 2024: ₹200 Cr issued 2024 Cumulative: ₹207 Cr Cumulative: ₹769 Cr Cumulative: ₹942 Cr Cumulative: ₹1,392 Cr Cumulative: ₹1,592 Cr

Based on 12 of 16 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • AA 13 bonds · 81%
  • Unrated 3 bonds · 19%
AgencyRatingOutlookBonds
CRISIL AA — 4
CRISIL AA Stable 2
CRISIL AA+ Stable 1
ICRA AA Stable 1
ICRA AA NSDL record — 4
CRISIL AA NSDL record — 1

Recent Rating Actions

28 Aug 2026 · CRISIL
AA
Reaffirmed · Stable
NCD Public Issues
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE523H07CB9 JM Financial Products 8.92% Nov 2026 NCD 8.92% AA (CRISIL) 2026-11-16 — —
INE523H07CA1 JM Financial Products 9.00% Dec 2026 NCD 9.00% AA+ (CRISIL) 2026-12-08 — —
INE523H07BY3 JM Financial Products 8.90% Dec 2026 NCD 8.90% AA (ICRA) 2026-12-24 — —
INE523H07CC7 JM Financial Products 9.10% Jan 2027 NCD 9.10% AA (CRISIL) 2027-01-04 — —
INE523H07BQ9 JM Financial Products 8.30% Feb 2030 NCD 8.30% AA (ICRA, NSDL record 2021) 2030-02-07 — —
INE523H07BB1 JM Financial Products 10.00% Mar 2030 NCD 10.00% AA (ICRA, NSDL record 2020) 2030-03-16 — —
INE523H07BC9 JM Financial Products 9.57% Mar 2030 NCD 9.57% AA (ICRA, NSDL record 2020) 2030-03-16 — —
INE523H07BH8 JM Financial Products 8.65% Dec 2030 NCD 8.65% AA (CRISIL) 2030-12-03 — —
INE523H07BJ4 JM Financial Products 8.75% Feb 2031 NCD 8.75% AA (CRISIL) 2031-02-12 — —
IN8523H07014 JM Financial Products 8.75% Feb 2031 NCD 8.75% AA (ICRA, NSDL record 2021) 2031-02-12 — —
INE523H07BK2 JM Financial Products 8.81% Mar 2031 NCD 8.81% AA (CRISIL) 2031-03-12 — —
IN8523H07022 JM Financial Products 8.81% Mar 2031 NCD 8.81% — 2031-03-12 — —
INE523H07BM8 JM Financial Products 8.50% Jul 2031 NCD 8.50% AA (CRISIL) 2031-07-16 — —
IN8523H07030 JM Financial Products 8.50% Jul 2031 NCD 8.50% — 2031-07-16 — —
IN8523H07048 JM Financial Products 8.65% Jul 2032 NCD 8.65% — 2032-07-13 — —
INE523H07BT3 JM Financial Products 8.65% Jul 2032 NCD 8.65% AA (CRISIL, NSDL record 2022) 2032-07-13 — —
Compare (/) Compare Bonds

YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

05 Market Activity

No recorded secondary-market trades in the last 30 days.

06 Regulatory Filings
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 13 2024-01-31
Rating Actions History 1 2026-08-28
Secondary-Market Trades 0 —
Reg52(4) Payment Disclosures 0 —

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does JM Financial Products Limited have?

JM Financial Products Limited currently has 16 active bonds with coupons of 8.30% - 10.00%, maturities spanning 2026 - 2032.

What is JM Financial Products Limited's credit rating?

The most common current rating on JM Financial Products Limited's senior bonds is AA (CRISIL). Ratings on file come from CRISIL, ICRA.

Are JM Financial Products Limited's bonds secured?

Of the 16 bonds with a disclosed security status, 16 are secured (100%) and 0 are unsecured.

When do JM Financial Products Limited's bonds mature?

JM Financial Products Limited's active bonds mature between 2026 - 2032; the nearest matures in Nov 2026; the average tenure is 3.3 Yrs.

What is the average coupon on JM Financial Products Limited's bonds?

The average coupon across JM Financial Products Limited's 16 active bonds is 8.87%.

Disclaimer: This page aggregates publicly available data about JM Financial Products Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.