Nippon Life India AMC
Nippon Life India AMC
Capital Markets F&OKey Fundamentals
MidcapAMC Mutual FundCapital MarketsTapetide Score
Data-driven rating, 0–100. How it works →
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 14.3 times its book value
Growth Rate
AI Analysis — Bull vs Bear
Nippon Life India Asset Management has a market capitalisation of about ₹73,262 crore. It trades at a P/E of 44.8x and a P/B of 15.73x, and its ROE has risen steadily from a 10-year average of 25% to 34% last year. Sales grew at a 25% 3-year CAGR and profit at a 28% 3-year CAGR, with TTM sales and profit growth at 23% and 21%. The company is almost debt free, pays out 90.8% of profits as dividends, and its stock has returned a 52% CAGR over 3 years.
- ROE has kept rising: 25% over 10 years, 28% over 5 years, 32% over 3 years and 34% last year. This suggests the asset-light fund management model is becoming more profitable as it scales.
- Growth has sped up recently. Sales grew at a 25% 3-year CAGR versus 16% over 5 years and 8% over 10 years, and profit grew at a 28% 3-year CAGR versus 18% over 5 years.
- Growth is still solid on a trailing basis, with TTM sales up 23% and TTM profit up 21%. That points to continued momentum in AUM and fee income.
- The company is almost debt free, so there is little financial leverage risk and no interest burden on earnings.
- It pays out 90.8% of profits as dividends, giving a 1.88% dividend yield. This shows high cash generation and low capital needs for reinvestment.
- Shareholder returns have been strong: a 52% CAGR over 3 years and 35% over the last year, which reflects how the market has viewed its earnings delivery.
- With a ₹73,262 crore market cap, it is one of the largest listed players in Capital Markets. That gives it scale to benefit from the long-term shift of Indian household savings into mutual funds.
- At 15.73x book value (flagged as roughly 15.8x), the valuation is steep. Continued high ROE of around 34% is needed just to justify current levels.
- A P/E of 44.8x assumes growth stays strong, while TTM profit growth (21%) is already below the 3-year profit CAGR (28%). Any further slowdown could lead the market to value the shares lower.
- Over 10 years, sales grew at only an 8% CAGR and profit at 14%. The recent 25–28% growth may partly reflect a cyclical market upswing rather than a structural change.
- AMC revenue is linked to AUM, which moves with equity markets. The 52% 3-year stock CAGR against a 21% 5-year CAGR shows how cycle-dependent returns have been, and a market correction could hit both earnings and valuation.
- Paying out 90.8% of profits leaves little retained capital for acquisitions, new business lines or cushioning a downturn. This can limit reinvestment-led growth.
- The dividend yield of 1.88% is modest compared with fixed-income alternatives. Most of the investor return depends on the high 44.8x P/E being sustained.
- Sector-level regulatory risk remains. Past SEBI changes to Total Expense Ratio (TER) limits have compressed yields, and further fee cuts could pressure the margins behind the 34% ROE.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Hong Kong institutional investor roadshow Sep 11
Will attend the CITIC CLSA Flagship Investors' Forum on September 23, 2026, and the BofA Securities 2026 Asia Pacific Conference on September 24, 2026, both in Hong Kong. Both are in-person events with one-on-one and group sessions with analysts and institutional investors.
- J.P. Morgan India Conference meet Sep 9
Will host an in-person analyst meeting in Mumbai on September 21, 2026, as part of the J.P. Morgan India Conference.
- Anand Rathi G-200 Summit Sep 9
Will take part in the Anand Rathi G-200 Summit 2026 in Mumbai on September 22, 2026. The in-person format includes one-on-one and group discussions.
- Nuvama CEO Forum on Sep 28 Sep 18
Will attend the Nuvama Emerging India CEO Forum in Mumbai on September 28, 2026, for in-person one-on-one and group investor discussions.
- ESG rating of 69.16 Sep 18
Niche Ninety Nine gave the company an ESG rating of 69.16 based on public data, as disclosed on September 18, 2026. The rating is unsolicited and has no direct financial impact.
TL;DR: All recent news for Nippon Life India AMC is routine disclosure. It is mostly a busy run of investor meetings from September 21 to 28, 2026, across Mumbai and Hong Kong, plus a moderate ESG score of 69.16. These items contain no new information on AUM, flows, margins or regulation, so the fundamental picture is unchanged. Meeting four or more investor groups in about a week, including foreign institutions in Hong Kong, suggests management wants to build investor interest. Signals on direction will more likely come from monthly AUM and SIP flow data and the Q2 FY27 results.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 354 | 397 | 423 | 468 | 505 | 571 | 588 | 567 | 607 | 658 | 705 | 739 | 767 |
| Expenses | 152 | 156 | 164 | 178 | 189 | 197 | 202 | 201 | 218 | 229 | 235 | 232 | 259 |
| Operating Profit | 202 | 241 | 259 | 291 | 316 | 374 | 386 | 365 | 388 | 430 | 470 | 507 | 508 |
| OPM % | 57% | 61% | 61% | 62% | 63% | 66% | 66% | 64% | 64% | 65% | 67% | 69% | 66% |
| Other Income | 117 | 78 | 107 | 92 | 131 | 121 | 15 | 23 | 146 | 37 | 75 | -34 | 170 |
| Interest | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 8 | 7 | 7 | 7 | 7 | 7 | 8 | 9 | 8 | 9 | 11 | 12 | 12 |
| PBT | 310 | 310 | 358 | 374 | 439 | 486 | 392 | 378 | 524 | 456 | 533 | 460 | 664 |
| Tax % | 24% | 21% | 21% | 8% | 24% | 26% | 25% | 21% | 24% | 24% | 24% | 16% | 24% |
| Net Profit | 236 | 244 | 284 | 343 | 332 | 360 | 295 | 299 | 396 | 345 | 404 | 385 | 504 |
| EPS in Rs | 3.78 | 3.91 | 4.53 | 5.44 | 5.26 | 5.69 | 4.66 | 4.7 | 6.23 | 5.41 | 6.34 | 6.03 | 7.88 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 951 | 1,311 | 1,435 | 1,735 | 1,647 | 1,192 | 1,419 | 1,533 | 1,512 | 2,036 | 2,518 | 2,924 | 2,869 |
| Expenses | 484 | 787 | 837 | 1,082 | 940 | 594 | 505 | 516 | 555 | 649 | 789 | 914 | 954 |
| Operating Profit | 468 | 524 | 598 | 653 | 707 | 598 | 914 | 1,017 | 957 | 1,386 | 1,729 | 2,010 | 1,915 |
| OPM % | 49% | 40% | 42% | 38% | 43% | 50% | 64% | 66% | 63% | 68% | 69% | 69% | 67% |
| Other Income | 3 | 3 | 1 | 14 | 3 | 1 | 1 | 2 | 5 | 2 | 3 | 9 | 249 |
| Interest | 0 | 0 | 0 | 2 | 0 | 6 | 4 | 4 | 4 | 6 | 7 | 7 | 7 |
| Depreciation | 7 | 4 | 18 | 9 | 10 | 33 | 33 | 27 | 30 | 29 | 31 | 40 | 44 |
| PBT | 464 | 522 | 581 | 656 | 700 | 560 | 877 | 989 | 928 | 1,352 | 1,694 | 1,972 | 2,113 |
| 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 | 1,637 |
| EPS in Rs | 308 | 344 | 349 | 7.45 | 7.94 | 6.78 | 11.04 | 11.96 | 11.61 | 17.58 | 20.27 | 23.97 | 25.66 |
| Div. Payout % | 40% | 36% | 0% | 81% | 76% | 74% | 72% | 92% | 99% | 94% | 89% | 90% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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56 extracted metrics + investor summaries across FY10–FY27.
Documents
Frequently Asked Questions about Nippon Life India AMC
What does Nippon Life India Asset Management Ltd do?
Where is Nippon Life India Asset Management Ltd (NAM-INDIA) listed?
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What is the PE ratio of Nippon Life India Asset Management Ltd?
What is the 52-week high and low of Nippon Life India Asset Management Ltd?
Does Nippon Life India Asset Management Ltd pay dividends?
What is the Return on Equity (ROE) of Nippon Life India Asset Management Ltd?
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)
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