20-quarter listed-company comparison

Finance - Investment Bankers Stocks in India

Finance - Investment Bankers: JM Financial Ltd owns the largest revenue base AND the fastest current growth.

01 · the index people search for

Nifty Finance - Investment Bankers Index — Constituents & Performance

The Finance - Investment Bankers companies below are the listed Indian Finance - Investment Bankers universe this page tracks — the same constituent set people search for as the Nifty Finance - Investment Bankers index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has Finance - Investment Bankers moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 42% ahead of NIFTY 500. Earnings across its companies grew 141% on average over the last four reported quarters.

ASLEEP · 1y −21.6%·Price and the fundamentals both up0 of 3 companies ahead of NIFTY 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more

RS — · 1/3 >200d (+0) · 0/3 lead (−2) · EPS —

Finance - Investment Bankers, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Finance - Investment Bankers outperforming NIFTY 500?

Finance - Investment Bankers has underperformed NIFTY 500 by 23.1% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 6.6%. 1 of 3 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Ashika Credit Capital Ltd is the strongest against the sector itself at +15.3%.

-6.6%Sector vs NIFTY 500 · 13 weeks

-23.1%Sector vs NIFTY 500 · 52 weeks

1/3Stocks leading NIFTY 500

2/3Stocks leading sector

Sector metric: 10.8 as of 2026-07-19 · CONSOLIDATION · falling.

The central tension: current leadership is concentrated, so durability matters more than rank.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Finance - Investment Bankers has underperformed NIFTY 500 by 23.1% over 52 weeks and 6.6% over 13 weeks. 1 of 3 covered companies beat NIFTY on Mansfield relative strength, while 2 of 3 beat the sector itself. JM Financial Ltd leads with income of ₹4,090 crore, based on 3 of 3 comparable companies through Mar 2026.

Companies

complete canonical membership

Combined market value

₹15.7K Cr

JM Financial Ltd

Revenue growing

0/2

positive TTM year-on-year growth

Beating NIFTY 500

1/3

positive Mansfield relative strength

Comparing 3 of 3

04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

JM Financial Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 58.6% evidence confidence.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1JM Financial LtdJMFINANCIL	60.2/100Thin evidence · provisional59% evidence	ASLEEP	18.9/35 Income -6.6% · PAT 55.4% 52% evidence	13.1/25 ROA — · ROE 11.9% · GNPA — 34% evidence	16.2/20 P/BV 1.1× · P/BV÷ROE 0.09 90% evidence	12.0/20 RS sector 8.8% · RS bench -15.8% · 1Y -27.6%0 of 10 weeks ahead 70% evidence
Exact sum: 18.9 + 13.1 + 16.2 + 12 = 60.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
2Dam Capital Advisors LtdDAMCAPITAL	45.3/100Mixed-negative evidence68% evidence	ASLEEP	8.4/35 Income -11.9% · PAT -36.9% 71% evidence	21.1/25 ROA 16% · ROE 24.4% · GNPA — 68% evidence	12.8/20 P/BV 3.26× · P/BV÷ROE 0.13 60% evidence	3.0/20 RS sector -21.1% · RS bench -19.5% · 1Y -35.4%2 of 10 weeks ahead 70% evidence
Exact sum: 8.4 + 21.1 + 12.8 + 3 = 45.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Ashika Credit Capital LtdASHIKA	51.6/100Thin evidence · provisional45% evidence		18.7/35 Income — · PAT — 7% evidence	9.1/25 ROA — · ROE 7.5% · GNPA — 34% evidence	8.6/20 P/BV 1.53× · P/BV÷ROE 0.2 70% evidence	15.2/20 RS sector 15.3% · RS bench 7.5% · 1Y 3.4%5 of 10 weeks ahead 100% evidence
Exact sum: 18.7 + 9.1 + 8.6 + 15.2 = 51.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

05 · what price has already done

Market action

Ashika Credit Capital Ltd has the strongest one-year price move in Finance - Investment Bankers at +3.4%. It also leads on Mansfield relative strength against NIFTY at +7.5%. 1 of 3 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Income Scale & Growth Durability

JM Financial Ltd has the highest Income among the 3 Finance - Investment Bankers companies compared here, at ₹4,090 crore. Dam Capital Advisors Ltd is next at ₹237 crore. The same company also holds the highest Income growth, at -6.6%. 3 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: JM Financial Ltd is the scale leader at ₹4,090 crore, 17.3× the revenue of Dam Capital Advisors Ltd. JM Financial Ltd's growth is -6.6% from a ₹4,090 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderJM Financial Ltd · ₹4,090 crore

Gap17.3× versus #2 · Dam Capital Advisors Ltd

Persistence2/8 recent comparable periods

Coverage3/3 companies · 28 observations

Investor read: JM Financial Ltd is the scale benchmark; JM Financial Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: JM Financial Ltd's growth falls below JM Financial Ltd's for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

Incomelargest

1JM Financial Ltd JMFINANCIL₹4.1K Cr

2Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified₹237 Cr

3Ashika Credit Capital Ltd ASHIKA₹186 Cr

Income growthfastest growers

1JM Financial Ltd JMFINANCIL-6.6%

2Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified-12%

Income · company comparison

3/3 level · 2/3 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Income	Income growth	Reported
JM Financial Ltd JMFINANCIL	₹949 Cr	-5.5%	Mar 2026
Ashika Credit Capital Ltd ASHIKA	₹50 Cr	14%	Mar 2026
Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified	₹29 Cr	-20%	Mar 2026

Full 20-quarter history · every available company

Income · reported quarter history

Ashika Credit Capital Ltd · ASHIKA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹44 Cr

Jun 2025₹70 Cr

Sep 2025₹21 Cr

Dec 2025₹45 Cr

Mar 2026₹50 Cr

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023₹45 Cr

Mar 2024₹84 Cr

Jun 2024₹44 Cr

Sep 2024—

Dec 2024₹104 Cr

Mar 2025₹37 Cr

Jun 2025₹31 Cr

Sep 2025₹107 Cr

Dec 2025₹70 Cr

Mar 2026₹29 Cr

JM Financial Ltd · JMFINANCIL

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹928 Cr

Mar 2023₹846 Cr

Jun 2023₹1.1K Cr

Sep 2023₹1.2K Cr

Dec 2023₹1.2K Cr

Mar 2024₹1.3K Cr

Jun 2024₹1.1K Cr

Sep 2024₹1.2K Cr

Dec 2024₹1.1K Cr

Mar 2025₹1.0K Cr

Jun 2025₹1.1K Cr

Sep 2025₹1.0K Cr

Dec 2025₹999 Cr

Mar 2026₹949 Cr

Income growth · reported quarter history

Ashika Credit Capital Ltd · ASHIKA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 202614%

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024131%

Mar 2025-57%

Jun 2025-31%

Sep 2025—

Dec 2025-33%

Mar 2026-20%

JM Financial Ltd · JMFINANCIL

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202333%

Mar 202449%

Jun 20240.9%

Sep 2024-0.5%

Dec 2024-11%

Mar 2025-20%

Jun 20253.2%

Sep 2025-13%

Dec 2025-9.7%

Mar 2026-5.5%

07 · compare level, then change

Profit Scale & Acceleration

JM Financial Ltd has the highest Net profit among the 3 Finance - Investment Bankers companies compared here, at ₹1,201 crore. Dam Capital Advisors Ltd is next at ₹73 crore. The same company also holds the highest Profit growth, at 55.4%. 3 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: JM Financial Ltd leads with ₹1,201 crore of TTM profit, 16.5× the profit of Dam Capital Advisors Ltd. JM Financial Ltd shows 55.4% growth from a ₹1,201 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderJM Financial Ltd · ₹1,201 crore

Gap16.5× versus #2 · Dam Capital Advisors Ltd

Persistence4/8 recent comparable periods

Coverage3/3 companies · 28 observations

Investor read: JM Financial Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

Net profitlargest

1JM Financial Ltd JMFINANCIL₹1.2K Cr

2Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified₹73 Cr

3Ashika Credit Capital Ltd ASHIKA₹22 Cr

Profit growthfastest growers

1JM Financial Ltd JMFINANCIL55%

2Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified-37%

Net profit · company comparison

3/3 level · 2/3 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
JM Financial Ltd JMFINANCIL	₹162 Cr	-31%	Mar 2026
Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified	₹0 Cr	-97%	Mar 2026
Ashika Credit Capital Ltd ASHIKA	₹-36 Cr	—	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Ashika Credit Capital Ltd · ASHIKA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹-47 Cr

Jun 2025₹50 Cr

Sep 2025₹12 Cr

Dec 2025₹-4 Cr

Mar 2026₹-36 Cr

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023₹21 Cr

Mar 2024₹33 Cr

Jun 2024₹22 Cr

Sep 2024—

Dec 2024₹52 Cr

Mar 2025₹9 Cr

Jun 2025₹0 Cr

Sep 2025₹52 Cr

Dec 2025₹20 Cr

Mar 2026₹0 Cr

JM Financial Ltd · JMFINANCIL

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹240 Cr

Mar 2023₹32 Cr

Jun 2023₹177 Cr

Sep 2023₹206 Cr

Dec 2023₹322 Cr

Mar 2024₹-674 Cr

Jun 2024₹187 Cr

Sep 2024₹144 Cr

Dec 2024₹207 Cr

Mar 2025₹235 Cr

Jun 2025₹459 Cr

Sep 2025₹262 Cr

Dec 2025₹318 Cr

Mar 2026₹162 Cr

Profit growth · reported quarter history

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024144%

Mar 2025-74%

Jun 2025-99%

Sep 2025—

Dec 2025-61%

Mar 2026-97%

JM Financial Ltd · JMFINANCIL

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202334%

Mar 2024-2,206%

Jun 20245.7%

Sep 2024-30%

Dec 2024-36%

Mar 2025—

Jun 2025145%

Sep 202582%

Dec 202554%

Mar 2026-31%

08 · compare level, then change

Funding Base & Its Composition

No company in this Finance - Investment Bankers comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, JM Financial Ltd is highest at ₹11,635 crore, across 3 of 3 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

LeaderNo comparable leader

GapNot enough peers

PersistenceNot enough history

Coverage0/3 companies · 0 observations

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

Depositslargest deposit bases

—Not enough comparable data—

Borrowingslargest borrowings

1JM Financial Ltd JMFINANCIL₹11.6K Cr

2Ashika Credit Capital Ltd ASHIKA₹262 Cr

3Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified₹0 Cr

Funding base · company comparison

0/3 level · 3/3 change

All-company data · latest reported quarter

Company	Deposits	Borrowings	Reported
JM Financial Ltd JMFINANCIL	—	₹11.6K Cr	Mar 2026
Ashika Credit Capital Ltd ASHIKA	—	₹262 Cr	Mar 2026
Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified	—	₹0 Cr	Mar 2026

Full 20-quarter history · every available company

No consistent historical series is available for deposits.

Borrowings · reported quarter history

Ashika Credit Capital Ltd · ASHIKA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹25 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹1 Cr

Jun 2025—

Sep 2025₹1 Cr

Dec 2025—

Mar 2026₹262 Cr

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022₹1 Cr

Dec 2022—

Mar 2023₹3 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹5 Cr

Jun 2024₹7 Cr

Sep 2024₹6 Cr

Dec 2024—

Mar 2025₹4 Cr

Jun 2025₹89 Cr

Sep 2025₹0 Cr

Dec 2025₹88 Cr

Mar 2026₹0 Cr

JM Financial Ltd · JMFINANCIL

Mar 2017₹9.4K Cr

Mar 2018₹15.0K Cr

Mar 2019₹14.0K Cr

Mar 2020₹11.8K Cr

Mar 2021₹12.4K Cr

Mar 2022₹13.5K Cr

Dec 2022—

Mar 2023₹15.9K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹16.2K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹11.5K Cr

Jun 2025—

Sep 2025₹11.4K Cr

Dec 2025—

Mar 2026₹11.6K Cr

09 · compare level, then change

Return On Assets

Dam Capital Advisors Ltd has the highest ROA among the 3 Finance - Investment Bankers companies compared here, at 16%. The same company also holds the highest ROA change, at -16.7 percentage points. 1 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Dam Capital Advisors Ltd leads both roa at 16% and roa change at -16.7 percentage points.

LeaderDam Capital Advisors Ltd · 16%

GapNot enough peers

PersistenceNot enough history

Coverage1/3 companies · 2 observations

Investor read: Dam Capital Advisors Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

ROAhighest

1Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified16%

ROA changefastest improvers

1Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified−16.7 pp

Return on assets · company comparison

1/3 level · 1/3 change

Withheld from this chart: JM Financial Ltd (JMFINANCIL) — its two data sources disagree by up to 77% on reported income across 14 comparable periods, so its derived ratios are withheld; Ashika Credit Capital Ltd (ASHIKA) — its two data sources disagree by up to 94% on reported income across 5 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Company	ROA	ROA change	Reported
Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified	16%	−16.7 pp	Mar 2026

Full 20-quarter history · every available company

ROA · reported quarter history

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 202523%

Dec 2025—

Mar 202616%

No consistent historical series is available for roa change.

10 · compare level, then change

ROE — Leaders & Improvers

Dam Capital Advisors Ltd has the highest ROE among the 3 Finance - Investment Bankers companies compared here, at 24.4%. JM Financial Ltd is next at 11.9%. Ashika Credit Capital Ltd has the highest ROE change at +27 percentage points, so level and change sit with different companies. Its ROE series carries 5 reported observations across the 20-quarter window.

What the numbers say: Dam Capital Advisors Ltd leads roe at 24.4%; Ashika Credit Capital Ltd leads roe change at +27 percentage points.

LeaderDam Capital Advisors Ltd · 24.4%

Gap105% versus #2 · JM Financial Ltd

Persistence1/2 recent comparable periods

Coverage3/3 companies · 5 observations

Investor read: Dam Capital Advisors Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.

ROEhighest

1Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified24%

2JM Financial Ltd JMFINANCIL12%

3Ashika Credit Capital Ltd ASHIKA7.5%

ROE changefastest improvers

1Ashika Credit Capital Ltd ASHIKA+27.0 pp

2Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified+25.2 pp

Return on equity · company comparison

3/3 level · 2/3 change

All-company data · latest reported quarter

Company	ROE	ROE change	Reported
Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified	26%	+25.2 pp	Mar 2026

Full 20-quarter history · every available company

ROE · reported quarter history

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 202454%

Dec 202448%

Mar 2025—

Jun 2025—

Sep 20250.3%

Dec 202573%

Mar 202626%

ROE change · reported quarter history

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025−54.1 pp

Dec 2025+25.2 pp

Mar 2026—

11 · not available

Gross NPA — Leaders & Improvers

No company in this Finance - Investment Bankers comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 3 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Mar 2026.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

Withheld from this comparison: JM Financial Ltd (JMFINANCIL) — its two data sources disagree by up to 77% on reported income across 14 comparable periods, so its derived ratios are withheld; Ashika Credit Capital Ltd (ASHIKA) — its two data sources disagree by up to 94% on reported income across 5 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

12 · compare level, then change

Valuation Against Growth & Quality

JM Financial Ltd has the lowest P/BV ÷ ROE among the 3 Finance - Investment Bankers companies compared here, at 0.09×. Dam Capital Advisors Ltd is next at 0.13×. The same company also holds the lowest P/BV, at 1.1×. 3 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: JM Financial Ltd has the lowest comparable P/BV ÷ ROE at 0.09×, 30.8% below Dam Capital Advisors Ltd. Only 3 of 3 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderJM Financial Ltd · 0.09×

Gap30.8% versus #2 · Dam Capital Advisors Ltd

Persistence0/8 recent comparable periods

Coverage3/3 companies · 3 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.

P/BV ÷ ROElowest return-adjusted price

1JM Financial Ltd JMFINANCIL0.1

2Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified0.1

3Ashika Credit Capital Ltd ASHIKA0.2

P/BVlowest P/BV

1JM Financial Ltd JMFINANCIL1.1

2Ashika Credit Capital Ltd ASHIKA1.5

3Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified3.3

Valuation · company comparison

3/3 level · 3/3 change

All-company data · latest reported quarter

Company	P/BV ÷ ROE	P/BV	Reported
Dam Capital Advisors Ltd DAMCAPITAL⚠ unverified	0.1	3.0	Mar 2026
JM Financial Ltd JMFINANCIL	—	1.1	Mar 2026
Ashika Credit Capital Ltd ASHIKA	—	2.3	Mar 2026

Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 202521.3

Dec 20250.1

Mar 20260.1

P/BV · reported quarter history

Ashika Credit Capital Ltd · ASHIKA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20251.3

Sep 20252.6

Dec 20252.2

Mar 20262.3

Dam Capital Advisors Ltd · DAMCAPITAL⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20256.3

Jun 20256.9

Sep 20256.4

Dec 20254.8

Mar 20263.0

JM Financial Ltd · JMFINANCIL

Mar 20172.4

Mar 20182.9

Mar 20191.6

Mar 20201.0

Mar 20211.3

Mar 20220.9

Dec 20220.9

Mar 20230.7

Jun 20230.9

Sep 20231.0

Dec 20231.1

Mar 20240.8

Jun 20241.0

Sep 20241.6

Dec 20241.4

Mar 20251.1

Jun 20251.8

Sep 20251.6

Dec 20251.3

Mar 20261.1

13 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Finance - Investment Bankers comparison names 8 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 2 have second-feed figures withheld because the two sources disagree.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
2 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
Thin comparisons: Funding base, Return on assets, Asset quality have fewer than three usable current readings.

14 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 3 Finance - Investment Bankers companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company

Market dataThrough 2026-07-31 · weekly price and relative-strength history

Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing0 cross-checked · 1 unverified · 2 withheld, of 3 graded companies.

How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

15 · questions investors ask, short speakable answers

Finance - Investment Bankers company comparison FAQs

These 22 answers restate the Finance - Investment Bankers comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Finance - Investment Bankers sector outperforming NIFTY 500?

Which Finance - Investment Bankers company is largest by income?

JM Financial Ltd leads with income of ₹4,090 crore, based on 3 of 3 comparable companies through Mar 2026.

Which Finance - Investment Bankers company is growing fastest?

JM Financial Ltd has the fastest current income growth at -6.6%, across 2 of 3 comparable companies.

Which Finance - Investment Bankers company has the strongest 4-Factor Sector Score?

JM Financial Ltd ranks first at 60.2/100 with 58.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Finance - Investment Bankers company has the lowest comparable P/BV-to-ROE?

JM Financial Ltd has the lowest comparable P/BV ÷ ROE at 0.09, among 3 of 3 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Finance - Investment Bankers comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty Finance - Investment Bankers index?

The Nifty Finance - Investment Bankers index tracks India's listed Finance - Investment Bankers companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Finance - Investment Bankers sector rather than to its largest constituent. Figures are as of Mar 2026.

Which are the best Finance - Investment Bankers stocks in India?

Ranked by this page's four-factor score, JM Financial Ltd places first among 3 listed Finance - Investment Bankers companies, followed by Dam Capital Advisors Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Finance - Investment Bankers stocks are listed in India?

This comparison covers 3 listed Finance - Investment Bankers companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.

Which Finance - Investment Bankers company is the biggest?

JM Financial Ltd is the largest, with trailing-twelve-month income of ₹4,090 crore, ahead of Dam Capital Advisors Ltd at ₹237 crore. That covers 3 of 3 companies with comparable reporting through Mar 2026.

Which Finance - Investment Bankers company makes the most profit?

JM Financial Ltd earns the most, at ₹1,201 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. JM Financial Ltd has the fastest profit growth at 55.4%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Finance - Investment Bankers company earns the highest return on capital?

Dam Capital Advisors Ltd leads on return on assets at 16%, across 1 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Finance - Investment Bankers stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — JM Financial Ltd screens cheapest at 0.09×. Only 3 of 3 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Finance - Investment Bankers sector beating the market?

Finance - Investment Bankers has underperformed NIFTY 500 by 23.1% over the last 52 weeks and 6.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Finance - Investment Bankers stock has the strongest price momentum?

Ashika Credit Capital Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Finance - Investment Bankers company scores highest for research priority?

JM Financial Ltd scores 60.2 out of 100 with 58.6% evidence confidence, from 18.9 points on growth and earnings, 13.1 on capital efficiency, 16.2 on valuation and 12 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Finance - Investment Bankers companies does this comparison cover, and over what period?

It compares 3 listed companies over up to 20 reported quarters of fundamentals, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Finance - Investment Bankers sector?

The 3 Finance - Investment Bankers companies on this page carry ₹15,723 crore of combined market value. JM Financial Ltd is the largest at ₹11,690 crore, about 74% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

How is the Finance - Investment Bankers sector performing?

1 of the 3 covered Finance - Investment Bankers companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 23.1% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.