Jio Financial Services Ltd

Meeting Details

• Date: October 15, 2026; presentation concluded at 8:10 p.m. IST.
• Type/Mode: Group analyst presentation; audio/video recording.
• Purpose: discuss unaudited quarterly and half-year results.
• Availability: recording and presentation posted on company website.
• Key participants: Group Company Secretary and Compliance Officer represented the company.

Issue Overview

• Type of issue: Preferential Issue of convertible warrants.
• Total issue size: up to 50 crore warrants; no report of revision or undersubscription.
• Main objectives: infusion into subsidiaries/JVs and General Corporate Purposes.

Utilisation of Proceeds

• Utilisation as disclosed: aligned with offer document objects (subsidiaries/JVs and GCP).
• Deviations: no material deviations observed; means of finance unchanged.
• Object 1 end-quarter utilisation: 6,215.19 crore utilised; unutilised 5,653.56.
• Object 2 end-quarter utilisation: 2.20 crore utilised; unutilised 3,954.05.
• Overall unutilised funds: 9,607.61 crore; deployed into deposits, mutual funds, and instruments.
• GCP utilisation: 1.75 crore for professional fees and IT software; board approved.
• Note: 25% subscription received; remaining proceeds to be received as warrants are exercised.

Governance and Compliance

• Approvals: not indicated as required for these objects.
• Material events: Note warns conversion viability if market price remains below exercise price.
• Delay: no delay reported; funds expected to be utilised by March 2028.
• Unutilised proceeds deployment: funds invested in CDs, CPs, and mutual funds.

GCP

• GCP utilisation: 1.75 crore for operational expenses; board approval obtained for allocation.

Business overview

• Diversified financial services group led by JFSL across NBFC, payments, asset management, and insurance.
• RSHL consolidated as 100% subsidiary effective Apr 29, 2026.
• Strategic partnerships with BlackRock and Allianz to scale asset management and insurance.
• Nationwide distribution with 19,000+ PIN codes and presence in 19 cities; 633,000+ BC network.
• Total consolidated equity: Rs 1.3 lakh crore as of Sep 30, 2026.

Operational highlights

• JCL present in 19 cities with 26 offices.
• JioBlackRock AMC distributors exceed 15,000 for MF & SIF.
• JPSL network expanded to 633,000+ BC; ~200,000 in Q2 FY26 baseline.
• Tap-and-Pay on POS launched; cross-border collections in 100+ currencies.
• Unified subscription hub automated recurring UPI and card payments.

Financial performance

• Consolidated total income: Rs 1,699 crore in Q2 FY27; +132% YoY.
• Q2 FY27 PAT: Rs 340 crore; YoY -51%; QoQ -59%.
• PBT: Rs 489 crore in Q2 FY27; YoY -37%; QoQ -50%.
• H1 FY27 total income: Rs 3,195 crore; PAT: Rs 1,171 crore.
• NBFC PAT grew 140% YoY to Rs 120 crore.

Capital structure & liquidity

• Cash and bank balances: Rs 12,459 crore; total assets: Rs 181,666 crore.
• Net worth: Rs 129,596 crore; equity share capital: Rs 6,603 crore; other equity: Rs 122,992 crore.
• Loans: Rs 37,493 crore; borrowings & debt securities: Rs 42,007 crore.

Strategic priorities & outlook

• Maintain investments to scale growth-stage and incubate nascent businesses.
• Margin expansion through high-quality merchant mix and product depth.
• Expand digital channels; deepen geographic reach via partnerships.
• JioBlackRock Advantage World Equity Fund (IFSC) planned in Q3 FY27; GIFT City launch.

Governance & leadership

• RSHL consolidated as 100% subsidiary; group structure disclosed.
• Annexure outlines holding structure with JFSL and key subsidiaries.

Consolidated results

• Q2 FY27 total income (ex-dividend) ₹1,699 crore.
• Q2 FY27 PAT ₹340.44 crore.
• Q2 FY27 PPOP (ex-dividend) ₹574 crore.
• Q2 FY27 PBT (ex-dividend) ₹489 crore.
• H1 FY27 total income (ex-dividend) ₹3,195 crore.
• H1 FY27 PAT ₹1,171 crore.

Key operating KPIs

• JCL AUM ₹37,320 crore (Q2 FY27).
• Jio BlackRock AMC AUM ₹22,746 crore (Q2 FY27).
• TPV ₹14,682 crore (Q2 FY27).
• NBFC PAT JCL ₹120 crore (Q2 FY27).
• Total consolidated equity ₹1.30 lakh crore (as of Sep 30, 2026).

Strategic partnerships & actions

• Bank of America to acquire up to 49.9% in JCL, subject to approvals.
• Allianz-Jio JV: JAGIL formed; ₹375 crore each into equity.
• BlackRock joint venture: closing AUM ₹22,746 crore.

Segments & business model

• Two reportable segments: Investing and Lending; Others include leasing, insurance broking, payments.
• Operations are domestically oriented in India.

Jio Financial Services Limited – Trading Window closes Oct 1, 2026 and ends 48 hours after Q2 FY2026 results (quarter ended Sep 30, 2026) become generally available

Investor meeting update

• Executives participated in J.P. Morgan India Financials Tour in Mumbai on Sept 24, 2026.
• No unpublished price-sensitive information was shared; only information in the public domain discussed.

Meeting Details

• Date: September 24, 2026; Type: Group; Mode: In-person; Event: J.P. Morgan India Financials Tour.

Participants

• Company executives from Jio Financial Services Ltd to participate.

Purpose

• Institutional investors’ meeting; discussion based on public information.

Additional Notes

• No unpublished price sensitive information will be shared; only public-domain details discussed.

Update on Institutional Investors' Meeting

• Executives participated in J.P. Morgan India Conference 2026 in Mumbai, in-person one-on-one.
• No unpublished price-sensitive information was shared; only public-domain information discussed.
• Event date: 21 September 2026; organized by a third party.

Meeting Details

• Date: September 21, 2026; In-person, one-on-one at J.P. Morgan India Conference 2026, organised by a third party.

Participants

• Company participants: senior management executives attending the meeting.

Purpose

• Purpose: institutional investor interaction; only public-domain information will be discussed.

AGM details

• Third AGM (Post Listing) held on Wednesday, August 26, 2026.

Voting results

• Voting results and consolidated Scrutinizer's Report attached.

Documentation

• Company Secretary letter dated August 28, 2026 attached.