Nippon Life India Asset Management Ltd logo

Nippon Life India Asset Management Ltd

NAM-INDIA NSE

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)

AI Verdict: BUY Confidence: 7%

NAM-India offers a compelling asset-light business model with 34% ROE, debt-free balance sheet, and strong profit compounding at 28% CAGR over 3 years. However, the stock trades at a steep 48.7x PE and 16x book value, limiting margin of safety at current levels. With 82.6% analyst buy ratings and structural tailwinds from India's mutual fund penetration story, accumulation on dips is warranted.

Key Fundamentals

Volatility
Moderate
P/E Ratio
47.44
EBITDA
₹2,019 Cr
Return on Equity
27.78%
Debt to Equity
0.02
EPS
₹19.06
52W High
₹1,194
52W Low
₹770.1

Technical Indicators

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.9%
  • Company has been maintaining a healthy dividend payout of 90.8%

Weaknesses

1
  • Stock is trading at 15.8 times its book value

Growth Rate

Revenue Growth
16.36% ↗
Net Income Growth
18.85% ↗
Cash Flow Change
22.22% ↗
ROE
7.47% ↗
ROCE
5.77% ↗
EBITDA Margin (Avg.)
0.20% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
BUY
Risk medium

NAM-India offers a compelling asset-light business model with 34% ROE, debt-free balance sheet, and strong profit compounding at 28% CAGR over 3 years. However, the stock trades at a steep 48.7x PE and 16x book value, limiting margin of safety at current levels. With 82.6% analyst buy ratings and structural tailwinds from India's mutual fund penetration story, accumulation on dips is warranted.

Bull Case 8
  • Exceptional ROE of 34% in the last year and consistent 3-year average of 32%, indicating highly efficient capital deployment for a financial services firm
  • Virtually debt-free balance sheet eliminates financial risk and provides full operating leverage on AUM growth
  • Compounded profit growth of 28% CAGR over 3 years significantly outpaces revenue growth of 21%, demonstrating improving operating leverage
  • Overwhelming analyst consensus with 82.6% buy ratings (19 out of 23 analysts) signals strong institutional conviction
  • Healthy dividend payout of 90.8% with 1.84% yield offers income support rare among high-growth financial stocks
  • Stock CAGR of 67% over 3 years reflects strong re-rating driven by consistent earnings delivery and sectoral tailwinds
  • TTM profit growth of 19% remains robust even on a higher base, with revenue growth of 8% TTM suggesting margin expansion continues
  • Market cap of Rs 74,692 crore with asset-light model means high free cash flow conversion and capital return potential
Bear Case 8
  • PE ratio of 48.7x is expensive relative to earnings growth, implying a PEG ratio above 1.7x on 3-year profit CAGR of 28%
  • Price-to-book of 16x is extremely elevated even for asset-light businesses, leaving no room for execution missteps
  • TTM revenue growth has decelerated sharply to 8% from 21% 3-year CAGR, signaling potential AUM growth slowdown or fee compression
  • 10-year compounded sales growth of only 8% reveals the business is cyclical and dependent on market conditions for AUM accretion
  • Only 1 sell rating out of 23 analysts suggests crowded positioning with limited contrarian support if sentiment turns
  • 5-year stock CAGR of 27% versus 3-year CAGR of 67% shows much of the re-rating is recent, increasing reversion risk
  • High dividend payout of 90.8% leaves minimal retained earnings for inorganic growth or strategic investments
  • Market-linked revenue model means any sustained equity market correction would directly compress AUM-based management fees

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 2
  • 6.9% cut in operational emissions Jun 15

    BRSR for FY26 reports a 6.9% reduction in operational emissions, signaling improving ESG credentials that may attract sustainability-focused investors.

  • Final dividend record date set Jun 13

    Record date for FY 2025-26 final dividend fixed at June 26, 2026, confirming shareholder returns commitment via the upcoming 31st AGM on July 8.

Neutral 3
  • Investor meetings with top brokerages Jun 19

    NAM-India scheduled analyst/investor meetings on June 24-25, 2026, with JM Financial and Goldman Sachs, indicating active institutional engagement.

  • AGM scheduled for July 8 Jun 13

    31st AGM to be held via video conferencing on July 8, 2026. No extraordinary resolutions flagged in the announcement.

  • BRSR filed for FY26 Jun 15

    Business Responsibility and Sustainability Report for FY26 filed, covering ESG performance metrics and sustainability disclosures.

TL;DR: NAM-India's recent newsflow is largely procedural with no material headwinds emerging. The company is actively engaging institutional investors and demonstrating ESG progress with a 6.9% emissions reduction. Dividend continuity and scheduled AGM reinforce stable governance. Near-term catalysts may come from the Goldman Sachs/JM Financial meetings and any forward guidance shared at the July 8 AGM.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
348
354
397
423
468
505
571
588
567
607
658
705
739
Expenses
140
152
156
164
178
189
197
202
201
218
229
235
232
Operating Profit
209
202
241
259
291
316
374
386
365
388
430
470
507
OPM %
60%
57%
61%
61%
62%
63%
66%
66%
64%
64%
65%
67%
69%
Other Income
40
117
78
107
92
131
121
15
23
146
37
75
-34
Interest
1
1
2
2
2
2
2
2
2
2
2
2
2
Depreciation
8
8
7
7
7
7
7
8
9
8
9
11
12
PBT
239
310
310
358
374
439
486
392
378
524
456
533
460
Tax %
17%
24%
21%
21%
8%
24%
26%
25%
21%
24%
24%
24%
16%
Net Profit
198
236
244
284
343
332
360
295
299
396
345
404
385
EPS in Rs
3.18
3.78
3.91
4.53
5.44
5.26
5.69
4.66
4.7
6.23
5.41
6.34
6.03
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
951
1,311
1,435
1,735
1,647
1,192
1,419
1,533
1,512
2,036
2,518
2,924
Expenses
484
787
837
1,082
940
594
505
516
555
649
789
914
Operating Profit
468
524
598
653
707
598
914
1,017
957
1,386
1,729
2,010
OPM %
49%
40%
42%
38%
43%
50%
64%
66%
63%
68%
69%
69%
Other Income
3
3
1
14
3
1
1
2
5
2
3
9
Interest
0
0
0
2
0
6
4
4
4
6
7
7
Depreciation
7
4
18
9
10
33
33
27
30
29
31
40
PBT
464
522
581
656
700
560
877
989
928
1,352
1,694
1,972
Tax %
24%
24%
31%
30%
30%
26%
23%
25%
22%
18%
24%
23%
Net Profit
354
396
402
457
487
415
680
744
723
1,107
1,286
1,529
EPS in Rs
308
344
349
7.45
7.94
6.78
11.04
11.96
11.61
17.58
20.27
23.97
Div. Payout %
40%
36%
0%
81%
76%
74%
72%
92%
99%
94%
89%
90%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
12
12
612
612
612
616
622
623
630
635
638
Reserves
1,495
1,750
1,831
1,753
1,958
1,981
2,484
2,857
2,892
3,352
3,578
4,021
Borrowings
30
30
30
0
0
0
0
0
0
79
88
75
Other Liabilities
166
139
179
357
206
288
291
318
345
314
369
458
Total Liabilities
1,702
1,931
2,051
2,722
2,776
2,881
3,392
3,797
3,861
4,375
4,670
5,192
Fixed Assets
7
12
251
258
256
324
301
296
305
331
868
916
CWIP
0
0
0
3
1
2
1
0
2
2
4
2
Investments
835
911
947
993
1,290
1,885
2,550
2,942
3,023
3,513
3,324
3,767
Other Assets
860
1,008
854
1,469
1,229
671
540
559
530
530
475
507
Total Assets
1,702
1,931
2,051
2,722
2,776
2,881
3,392
3,797
3,861
4,375
4,670
5,192
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-42
218
556
376
386
605
456
580
587
777
1,200
1,466
Investing
441
-25
-316
-260
-35
37
-402
-125
98
-104
-82
-326
Financing
-404
-174
-300
-92
-359
-468
-239
-426
-712
-671
-1,116
-1,150
Net Cash Flow
-5
19
-61
24
-7
174
-185
29
-27
3
2
-10
Free Cash Flow
-44
209
299
361
378
601
436
573
574
767
659
1,389
CFO/OP
12
69
120
87
85
126
69
78
79
74
91
95
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
7
17
11
8
23
18
12
18
23
23
10
10
Cash Conversion Cycle
7
17
11
8
23
18
12
18
23
23
10
10
Working Capital Days
127
115
124
-36
25
-25
-19
-5
-4
6
-9
-16
ROCE %
30%
31%
32%
31%
28%
22%
31%
30%
27%
36%
41%
44%

Shareholding Pattern

As of Mar 2026
Promoters 71.93%
DIIs 14.77%
FIIs 7.35%
Public 5.95%
Total 100.00%
  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
73.64%
73.47%
73.10%
72.86%
72.66%
72.49%
72.43%
72.32%
72.25%
72.10%
72.05%
71.93%
FIIs
4.84%
5.06%
5.54%
5.49%
6.56%
7.73%
8.28%
8.34%
7.59%
7.65%
7.90%
7.35%
DIIs
10.24%
14.57%
14.18%
14.40%
14.34%
13.47%
13.02%
12.81%
13.45%
12.95%
13.83%
14.77%
Public
11.28%
6.92%
7.18%
7.26%
6.43%
6.31%
6.26%
6.53%
6.69%
7.30%
6.21%
5.95%
No. of Shareholders
1,89,077
1,71,968
1,80,854
1,86,166
1,79,749
1,90,944
2,02,322
2,14,835
2,10,173
2,19,435
2,19,415
2,08,596

Documents

Frequently Asked Questions about Nippon Life India Asset Management Ltd

What does Nippon Life India Asset Management Ltd do?
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)
Where is Nippon Life India Asset Management Ltd (NAM-INDIA) listed?
Nippon Life India Asset Management Ltd is listed on the Indian stock exchanges. It is listed on NSE: NAM-INDIA and BSE: 540767. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Nippon Life India Asset Management Ltd belong to?
Nippon Life India Asset Management Ltd operates in the Financial Services sector within the Capital Markets industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the PE ratio of Nippon Life India Asset Management Ltd?
The Price-to-Earnings (PE) ratio of Nippon Life India Asset Management Ltd is 47.44. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Nippon Life India Asset Management Ltd?
Over the past 52 weeks, Nippon Life India Asset Management Ltd has traded between a low of ₹770.1 and a high of ₹1,194. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Nippon Life India Asset Management Ltd?
Nippon Life India Asset Management Ltd has a Return on Equity (ROE) of 27.78%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Nippon Life India Asset Management Ltd on Tapetide?
On Tapetide, you can view Nippon Life India Asset Management Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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)

Website mf.nipponindiaim.com
CEO Mr. Sundeep Sikka M.B.A.
Employees 1,104
Listed 2017-11-06
Face Value ₹ 10
Issued Size 63,70,91,750

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