Jio Financial Services Ltd

Meeting update

• Executives attended Motilal Oswal 22nd Global Investor Conference 2026 in Mumbai.
• No unpublished price-sensitive information was shared; only public-domain information discussed.
• Date and mode: Aug 17, 2026, in-person Mumbai investor meeting.
• Meeting type: one-on-one and group discussions.

Key update

• Presentation on material related party transactions for AGM Items 6 and 7 (post-listing).
• Link to the presentation provided in the filing.
• Issuer: Jio Financial Services Limited.
• Date: August 14, 2026.
• Topic: related party transactions.

Investment terms

• NB Holdings to invest up to ₹18,268.22 crore in Jio Credit via equity and warrants.
• Equity up to 4,29,29,760 shares (26.50% post-issue) for up to ₹6,612.90 crore.
• Warrants up to 7,56,64,248, convertible within 18 months for ₹11,655.32 crore.
• Initial 26.5% stake; up to 49.9% on warrant exercise.
• 25% payment at subscription; balance on conversion.

Governance & approvals

• Post-conversion NB Holdings, USA to hold 49.90% of JCL's paid-up capital.
• Transaction subject to statutory and regulatory approvals as applicable.
• JCL to be consolidated as a subsidiary in JFSL financial reporting.
• Not a related-party transaction; no promoter or promoter group interest.

Meeting Details

• Date: August 17, 2026; Type: One-on-One / Group.
• Mode: In-Person.
• Event: Motilal Oswal’s 22nd Annual Global Investor Conference, 2026.
• Purpose: institutional investor interaction.
• Key participants: company executives (roles not specified).

Key dates

• Record date fixed for Aug 10, 2026 to determine dividend eligibility for FY 2025-26.
• Dividend, if declared at the AGM, will be paid within seven days of the AGM.
• AGM scheduled for Aug 26, 2026 at 2:00 PM (IST) via VC/OAVM.
• Cut-off date for voting set as Aug 19, 2026.

Meeting Details

• Date and end time: July 16, 2026; 7:44 p.m. IST.

Participants

• Key company participant: Group Company Secretary and Compliance Officer.

Purpose

• Purpose: presentation of unaudited quarterly results to analysts.

Additional Notes

• Recording: audio/video of the presentation available on the company website.

Issue Overview

• Type and securities: Preferential Issue of convertible warrants.
• Size and net proceeds: Up to 50 crore warrants; aggregate Rs 15,825 crore; no undersubscription reported.
• Main objective: Infusion into existing and new subsidiaries/JVs; GCP allowed within 25% of gross proceeds.

Utilisation of Proceeds

• Utilisation as per offer document: Yes.
• Deviations: None; no material deviations reported.
• Object 1 utilisation: Rs 2,007.41 crore utilised towards subsidiaries/JVs.
• GCP utilisation: Rs 0.45 crore utilised; unutilised Rs 3,955.80 crore.
• Unutilised funds deployment: invested in CDs, deposits, mutual funds; total invested Rs 4,962.99 crore; value Rs 5,021.76 crore.
• Delay: No delay; funds expected to be utilised by 31 March 2028.

Governance and Compliance

• Approvals obtained: Notice to shareholders (Aug 1, 2025); statutory auditor’s certificate; management undertaking.
• Material events: Warrants market price below exercise price; potential impact on conversion.
• Additional info: Stock exchange note referenced; no other material events disclosed.

General Corporate Purpose

• GCP allocation: Rs 3,956.25 crore; utilised Rs 0.45 crore; unutilised Rs 3,955.80 crore.
• Board approval for GCP allocation: Not explicitly stated in MAR.

Business Overview

• JFSL is the holding company for a diversified financial services group across NBFC, payments, insurance, asset management, and broking.
• Strategy focuses on a digital-first platform with AI-driven hyper-personalisation to scale third-party product distribution.
• Key JVs with BlackRock and Allianz broaden asset management, wealth, broking, and insurance capabilities.

Operational Highlights

• NBFC quarterly disbursements exceeded Rs 11,000 crore in the quarter.
• Payments Bank began FASTag MLFF toll processing operations.
• Cross-border collection services launched for Indian exporters.
• Prism SIF NFO closed July 13, 2026, raising Rs 150 crore+.
• Liquid Funds AUM crossed Rs 10,000 crore in April 2026.
• Allianz 50:50 JV established as Jio Allianz General Insurance Limited.
• JCL footprint expanded to 18 cities with 25 offices.
• JioBlackRock AMC expanded distribution with 800+ distributors for SIF; retail Fund Management approved in GIFT City.
• BC network expanded to 527,000+ merchants; JIBL POSP agents in 25 states; JPSL merchant network in 26 states.
• Closing AUM for Jio BlackRock AMC rose to Rs 18,412 Cr in Q1 FY27.
• Quarterly AAUM rose to Rs 17,979 Cr in Q1 FY27.
• Rs 266 Cr GWP in Q1 operations; lead reinsurer status across major treaty programs.

Financial Performance

• Total Income (Consolidated) rose to Rs 617 Cr in Q1 FY27 vs Rs 358 Cr in Q1 FY26.
• Net Interest Income stood at Rs 257 Cr in Q1 FY27 vs Rs 118 Cr in Q1 FY26.
• Pre-provisioning operating profit rose to Rs 154 Cr in Q1 FY27 from Rs 67 Cr in Q1 FY26.
• Profit after tax increased to Rs 96 Cr in Q1 FY27 from Rs 45 Cr in Q1 FY26.
• Total borrowings increased to Rs 11,252 Cr in Q1 FY27 from Rs 4,127 Cr in Q1 FY26.
• Debt/Equity rose to 3.9x in Q1 FY27, up from 1.7x in Q1 FY26 and 3.0x in Q4 FY26.
• Board-approved NCD limit for FY27 is Rs 15,000 Cr; Rs 1,500 Cr NCDs issued in June 2026.
• Average cost of borrowing remained around 7.07% during the period.
• Total deposits rose to Rs 30,667 Cr in Q1 FY27 from Rs 25,622 Cr in Q4 FY26.

Capital Structure & Liquidity

• Borrowings: Rs 11,252 Cr in Q1 FY27 vs Rs 4,127 Cr in Q1 FY26.
• NCDs issued: Rs 1,500 Cr in June 2026; FY27 cap of Rs 15,000 Cr.
• Debt/Equity: 3.9x in Q1 FY27, versus 1.7x in Q1 FY26 and 3.0x in Q4 FY26.

Strategic Priorities & Outlook

• Scale digital distribution and AI-driven personalised offers to grow cross-sell across segments.
• Expand cross-border payments and merchant partnerships; deepen high-Margin, asset-light businesses.
• Strengthen underwriting, portfolio profitability, and risk-management capabilities.

Risks & Mitigation

• Credit and regulatory risks addressed via robust risk controls and retrocession frameworks.
• Diversified revenue streams and product mix to balance cyclicality and volatility.

Governance & Leadership

• JV formations with Allianz and BlackRock involve governance and regulatory considerations.
• JCL, JPSL, JIBL, JPBL, and JFPSL structures reflect group-wide governance alignment.

Financial results approved

• Unaudited consolidated and standalone results for quarter ended 30 June 2026 approved by Board.
• Independent Auditor’s Review Report issued with unmodified conclusion.

Key financial highlights

• Consolidated total income (ex-dividend) ₹1,496 crore; PAT ₹830 crore.
• PPOP (ex-dividend) ₹505 crore; PBT (ex-dividend) ₹461 crore.
• PBT including dividend ₹970 crore; PAT ₹830 crore.
• Total consolidated equity ₹1.37 lakh crore.
• Promoter group infused ₹5,934 crore in Q1; total cumulative ₹9,890 crore.
• Paid-up equity capital increased to ₹6,603.14 crore.
• Promoter group stake rose to 49.13%.
• Remaining 25 crore warrants outstanding as of 30 Jun 2026.
• Warrants convertible into equity shares.

Joint ventures and investments

• Formed 50:50 Allianz Europe JV for general insurance; JAGIL formed.
• IRDAI no-objection received; equity investments of ₹4.95 crore each in JAGIL.
• Jio Allianz General Insurance Limited incorporated; regulatory approvals pending.
• JPBL acquired 14.96% for ₹104.54 crore; JPBL now wholly owned subsidiary.
• Exceptional item recognized for fair value gain on JPBL acquisition.
• Petroleum Trust assets distributed to RIIHL on 29 April 2026; RSHL becomes wholly owned subsidiary.
• RSHL consolidated as subsidiary of RIIHL post-distribution.
• Allianz invested ₹4.95 crore each in JAGIL.

Regulatory and auditor disclosures

• Independent auditors’ review reports indicate no material misstatement.
• IRDAI clearance obtained for JAGIL incorporation; approvals in progress.
• Interim results prepared in accordance with Ind AS 34 and SEBI LODR; RBI guidelines referenced.

Standalone results highlights

• Standalone revenue ₹219.04 crore; PAT ₹105.24 crore.
• Basic/diluted EPS ₹0.16.
• Total standalone comprehensive income ₹108.08 crore.

Operational metrics (media release)

• Jio Finance app: 25 million users; ~34,000 purchases daily in June 2026.
• Jio Credit AUM ₹30,667 crore; TPV ₹19,208 crore.
• Payments Bank deposits ₹617 crore; CASA ~3.9 million accounts.

Meeting Details

• Analyst presentation on quarter ended June 30, 2026 results on July 16, 2026 at 19:00 IST.
• Organised by Jio Financial Services; virtual webinar via JioEvents.

Participants

• Presenters include company management; coordinating by Group Company Secretary and Compliance Officer.

Purpose

• Discuss quarterly financial results with analysts.

Additional Notes

• Transcript and video will be posted on the company's website and stock exchanges.