Nippon Life India Asset Management Ltd

₹ 890 -1.06%
06 Jan
🔗 Website | BSE: 540767 | NSE: NAM-INDIA
56,708
890
987
43.1
65.4
2.02
41.6
32.0

ABOUT

Nippon Life India Asset Mgt. is engaged in managing mutual funds including exchange traded funds (ETFs); managed accounts, including portfolio management services, alternative investment funds and pension funds; and offshore funds and advisory mandates.(Source : 202003 Annual Report Page No: 01)

Stock Analysis

### Description - Nippon Life India Asset Management Limited (NAM-INDIA) is a prominent asset management company in India, backed by Nippon Life Insurance Company of Japan. It offers a diverse range of investment products and advisory services, holding a significant position in the Indian mutual fund industry. ### Key Growth Triggers - The company reported robust Q2 FY26 results with a 20% YoY growth in AUM to ₹6.57 trillion and market share gains, driven by strong SIP flows. - It is also pursuing a strategic collaboration with DWS Group for its AIF business. - Its strong parentage (Nippon Life Insurance, Japan), ~30 years track record, and extensive investor base (over 21.9 million unique investors) are key strengths. - Regular engagement with investors through conferences and calls aims to communicate strategy and performance. ### Order Book - Currently no data available for Order Book. ### Key Red Flags - Past ESG score downgrades by ESGRisk.ai have been noted. - Ongoing SEBI settlement proceedings related to a show cause notice have been mentioned. ### Key Dates To Watch - The postal ballot results, announced on January 9, 2026, confirmed shareholder approval for key appointments and plan amendments. - Mr. Sundeep Sikka's appointment as MD & CEO is effective from April 22, 2026.

Peer Comparison

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.ICICI AMC2695.6045.52133232.330.001617.7420.842949.3819.98110.994977.3373.022650.661603.6667.620.00
2.HDFC AMC2622.1040.90112306.771.72718.0624.471026.0415.6543.333829.3880.152746.17718.0614.4930.180.00
3.Nippon Life Ind.890.1043.1056707.542.02338.42-1.54611.7016.0741.572247.1468.601315.58338.4213.6129.210.02
4.Aditya AMC849.9525.2824544.642.82241.32-0.42461.328.7535.511782.6659.84970.98241.326.8824.440.02
5.UTI AMC1133.9024.7814572.572.29132.20-52.75418.55-22.2621.021758.9352.25588.01113.013.3214.790.00
6.Canara Robeco310.7032.726195.900.4848.71-2.68107.653.0347.72403.8465.43190.7048.7132.030.03
7.Shriram AMC406.00687.290.00-4.40-21.212.9754.69-23.169.08-188.22-17.52-4.404.23-22.450.00

Quarterly Results

Figures in Cr.

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
330392545329466564325432526309368527612
YOY Sales Growth %
4.89%18.74%39.03%11.66%41.74%20.86%3.56%32.75%21.94%1.64%19.12%43.19%16.07%
Expenses
121138168131157180119147168120132165191
Material Cost %
Employee Cost %
20.63%20.24%17.03%21.71%19.88%18.68%19.8%18.14%17.9%22.86%19.27%17.85%17.43%
Operating Profit
209254378198309384206285359189236362421
OPM %
63%65%69%60%66%68%63%66%68%61%64%69%69%
Other Income
599323106119136468526747211537
Exceptional items
Other income normal
58.5892.9622.94105.69119.28135.9846.2885.3425.5873.8171.98115.2837.13
Interest
1221221221222
Depreciation
8688788787778
Profit before tax
259339392295420510243361374255300468448
Tax %
24%22%24%24%25%24%18%10%21%23%22%27%24%
Net Profit
198265296222317385199325296197235344338
EPS in Rs
3.194.214.673.575.016.063.195.164.663.153.765.435.32

Profit & Loss

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
7809301,2691,3991,6761,5871,1331,3251,4261,4251,8732,3442,247
Sales Growth %
Expenses
4024707518001,034892535446452480548658706
Material Cost %
Raw material cost
Change in inventory
Manufacturing Cost %
Employee Cost %
Other Cost %
Operating Profit
3784595195996436955988799749441,3251,6871,542
OPM %
48%49%41%43%38%44%53%66%68%66%71%72%69%
Other Income
-3-01142112644222
Exceptional items
Other income normal
Interest
-0-0-0-02-06444677
Depreciation
14741881033332729282932
Profit before tax
3614525165826366875618439459181,2941,6551,724
Tax %
16%23%24%30%30%31%27%23%25%22%19%24%
Net Profit
3023503904054484754126497117151,0471,2521,316
Exceptional items AT
Profit excl Excep
Profit for PE
Profit for EPS
EPS in Rs
262.41303.46338.65351.377.317.766.7410.5311.4311.4716.6219.7320.71
Dividend Payout %
52%95%37%0%82%77%74%76%96%100%99%91%

Balance Sheet

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
11111212612612612616622623630635637
Reserves
1,5271,4771,7231,8091,7281,9201,9372,4102,7472,7893,1883,3793,528
Borrowings
-0303030-0-0-0-0-0-0778381
Long term Borrowings
Short term Borrowings
Lease Liabilities
Other Borrowings
00000000007783
Other Liabilities
143144121170250180262262275286263318370
Trade Payables
7486591031124266604741404971
Advance from Customers
Other liability items
69586266138137196203228245222269298
Total Liabilities
1,6811,6631,8862,0202,5902,7122,8113,2893,6443,6984,1594,4164,615
Fixed Assets
14712251257256322300296303330862859
Land
Building
1715131417181811121314533
Plant Machinery
Equipments
12109910101145568
Furniture & fittings
Vehicles
1111111357614
Intangible Assets
000000000000242
Other fixed assets
8911263268269364344347365347354
Gross Block
605758313327331429384387412401941
Accumulated Depreciation
46504662697610785921097279
CWIP
-0-0-0-03121022431
Investments
7548459269749511,2801,8702,5132,8782,9353,3543,1233,266
Other Assets
9148119487951,3791,175617474471458473427459
Inventories
Trade receivables
916474137905137668711645131
Receivables under 6m
Receivables over 6m
Prow for Doubtful
Cash Equivalents
3124425560490409304275231228235229
Loans & Advances
Other Assets items
Total Assets
1,6811,6631,8862,0202,5902,7122,8113,2893,6443,6984,1594,4164,615

Cash Flows

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
-342335573663935704345615957391,154
Profit from operations
3524144705035436365817978029821,443
Receivables
-6-3163-533914-29-21-2970
Inventory
Payables
12-27444-7024-7-12-6-08
Loans Advances
-30715202-0100-000-0
Other WC items
143-164218018157-11400
Working capital changes
-287-4023748588123-34-381179
Direct taxes
-99-141-149-186-208-147-170-202-169-253-368
Cash from Investing Activity
431-42-294-239-11278-383-138115-57-45
Fixed assets purchased
-4-9-257-15-9-4-20-7-10-12-537
Fixed assets sold
00000000001
Investments purchased
-1,784-2,185-1,8450-4,202-3,999-2,673-1,962-1,768-1,550-2,943
Investments sold
1,7202,1591,8612213,9323,3322,3391,7811,8491,4493,420
Interest received
69445276102853924363232
Redeemp Cnce of Shares
Acquisition of companies
Other investing items
2600-52858262-82274116-12
Cash from Financing Activity
-404-174-300-108-292-467-239-425-713-670-1,115
Redemption of debentures
Proceeds from borrowings
Repayment of borrowings
Interest paid fin
-2020000-6-4-4-4-6-7
Dividends paid
-202-174-300-666-292-443-306-526-716-811-1,202
Financial liabilities
00000-21-21-18-19-17-18
Other financing items
000-580000000
Net Cash Flow
-718-3720-11181-187-2-312-5

Ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
46141182116101722237
Inventory Days
Days Payable
Cash Conversion Cycle
46141182116101722237
Working Capital Days
2046422125-3114-36-26-12-17-0-12
ROCE %
25%30%31%32%30%28%22%30%30%27%36%42%

Shareholding Pattern

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
73.66%73.66%73.64%73.47%73.1%72.86%72.66%72.49%72.43%72.32%72.25%72.1%
Aroma Square Co_, Ltd_
00
Bangkok Life Assurance Public Company Limited
00
Corporate Pension Business Service Co_, Ltd_
00
Dojima Avanza Management Co_, Ltd_
00
Grand Guardian Nippon Life Insurance Company Limited
00
Great Wall Changsheng Life Insurance Co_, Ltd_
00
Hanasaku Life Insurance Co_, Ltd_
00
Hiraizumi Solar Energy LLC
00
Hoken 110
00
Japan Affinity Marketing, Inc_
00
LHL Co_, Ltd_
00
Life Care Partners Co_, Ltd_
00
Life Plaza Partners Co_, Ltd_
00
Life Salon Co_, Ltd_
00
MLC Limited
0
Midnight Breakfast Inc_
00
NICHIIGAKKAN Co_, Ltd
00
NLI Research Institute
00
Nichii Careplace Company
00
Nichii Holdings Co_, Ltd_
00
Nichii Nurse
00
Nihon Support Services Co_, Ltd_
00
Nippon Life Americas, Inc_
00
Nippon Life Asia Pacific (Regional HQ) Pte_ Ltd_
00
Nippon Life Global Investors Americas, Inc_
00
Nippon Life Global Investors Europe PLC
00
Nippon Life Global Investors Singapore Limited
00
Nippon Life India AIF Management Limited
00
Nippon Life India AIF Trustee Private Limited
00
Nippon Life India Asset Management (Singapore) Pte_ Ltd_
00
Nippon Life India Private Limited
00
Nippon Life India Trustee Limited
00
Nippon Life Insurance Australia and New Zealand Li___
0
Nippon Life Insurance Company
73.6673.6673.6473.4773.172.8672.6672.4972.4372.3272.2572.1
Nippon Life Insurance Company of America
00
Nippon Life Livelihood Support Co_, Ltd_
00
Nippon Life Realty Management Inc_
00
Nippon Life Schroders Asset Management Europe Limited
00
Nippon Wealth Life Insurance Co_, Ltd_
00
Nissay Asset Management Corporation
00
Nissay Business Service Co_, Ltd_
00
Nissay Capital Co_, Ltd_
00
Nissay Credit Guarantee Co_, Ltd_
00
Nissay Information Technology Co_, Ltd_
00
Nissay Insurance Agency Co_, Ltd_
00
Nissay Leasing Co_, Ltd_
00
Nissay New Creation Co_, Ltd
00
Nissay Plus SSI Company Inc_
00
Nissay Shoji Co_, Ltd_
00
Oa Soken
0
Omiya Sonic City Co_, Ltd_
00
PT Sequis
00
Reliance Nippon Life Insurance Company Limited
00
SL Towers Inc_
00
STEC Co_, Ltd_
00
Sansei Insurance Service Co_, Ltd_
00
Sanyu Service Co_, Ltd_
00
Shinjuku NS Building Co_, Ltd_
00
Taiju Financial Service Co_, Ltd_
00
Taiju Life Insurance Co_, Ltd_
00
Taiju Onyu Insurance Management Co_, Ltd_
00
The Master Trust Bank of Japan, Ltd_
00
Tokyo Central Property GODOKAISYA
00
Tokyo Opera City Buliding Co_, Ltd_
00
Yao Medical PFI Co_, Ltd_
00
FIIs
5.77%4.95%4.84%5.06%5.54%5.49%6.56%7.73%8.28%8.34%7.59%7.65%
Baron Emerging Markets Fund
1.661.661.621.611.531.18
Government Pension Fund Global
1.21.351.411.211.09
DIIs
9.06%9.41%10.24%14.57%14.18%14.4%14.34%13.47%13.02%12.81%13.45%12.95%
Dsp Mutual Fund
1.111.291.441.431.19
Hdfc Mutual Fund
1.761.71.741.81.851.921.861.8
Hdfc Mutual Fund - Hdfc Mnc Fund
1.561.72
Hdfc Trustee Company Ltd - A/C Hdfc Mid - Capoppor
1.361.36
Hsbc Mutual Fund
1.171.552.012.632.45
Icici Prudential Mutual Fund
1.351.161.11
Indusind Bank Limited
2.86
Life Insurance Corporation Of India
6.126.126.126.116.086.065.44.33.773.693.633.09
Sbi Mutual Fund
1.61.471.691.381.04
Uti-Mnc Fund
1.09
Government
Public
11.52%11.97%11.28%6.92%7.18%7.26%6.43%6.31%6.26%6.53%6.69%7.3%
Indusind Bank Ltd_
3.293.293.29
Others
No. of Shareholders
1,84,2851,88,7221,89,0771,71,9681,80,8541,86,1661,79,7491,90,9442,02,3222,14,8352,10,1732,19,435

News & Updates

Documents

Announcements

Announcement under Regulation 30 (LODR)-Change in Management
2 Jan - Mr. Ajay Patel retires as Manager/KMP and senior management effective close of business January 2, 2026.
Announcement under Regulation 30 (LODR)-Retirement
2 Jan - Ajay Patel ceased as Manager and KMP due to retirement effective Jan 2, 2026.
Announcement under Regulation 30 (LODR)-Cessation
2 Jan - Ajay Patel retires; ceases as Manager and KMP effective January 2, 2026.
Board Meeting Intimation for Considering Unaudited Financial Results For The Quarter Ending December 31, 2025
26 Dec - Board meeting Jan 29, 2026 to approve unaudited results for quarter ending Dec 31, 2025; trading window Jan 1–31, 2026.
Closure of Trading Window
26 Dec - Board meeting on Jan 29, 2026 to approve Q3 (Dec 31, 2025) unaudited results; trading window Jan 1–31, 2026.

Annual Reports

Credit Ratings

Rating update
1 Aug 2025 from crisil
Rating update
4 Apr 2025 from care
Rating update
13 Feb 2025 from icra
Rating update
5 Aug 2024 from crisil
Rating update
5 Apr 2024 from care
Rating update
5 Mar 2024 from icra

Concalls

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