Nippon Life India Asset Management Ltd.
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ABOUT
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Solid return on assets for a lender - ROA of 32.2%
- Company has a healthy return on capital (ROCE) of 40.8%
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.8%
- Asset quality is healthy - gross NPA of just 0.0%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 20.6% CAGR over last 5 years
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Stock is trading at 11.4x its book value
- Valuation is stretched - P/E of 46.6 is well above its own 5-year median (28.5)
- Thin net interest margin of 0.0%
- Operating margins have contracted to 66.2% from 71.2%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ICICIAMC | 3040.40 | 219.99 | 150274.36 | 3.36 | 9646.30 | 1130.96 | 15642.20 | 1075.51 | 115.10 | 72.41 |
| SBIFUNDS | 544.55 | 36.16 | 110915.45 | 14.62 | 8802.55 | — | 11527.29 | — | 56.50 | 80.51 |
| HDFCAMC | 2408.00 | 35.03 | 103257.58 | 2.24 | 8371.30 | 1019.83 | 10997.20 | 1035.90 | 42.89 | 77.33 |
| NAM-INDIA | 1192.00 | 46.59 | 76261.96 | 1.80 | 503.70 | 27.16 | 766.87 | 26.42 | 44.61 | 66.30 |
| ABSLAMC | 1100.10 | 31.60 | 31832.33 | 2.32 | 309.49 | 11.68 | 462.96 | 3.48 | 32.71 | 55.65 |
| UTIAMC | 908.75 | 25.33 | 11681.00 | 4.40 | 293.86 | 15.76 | 583.51 | 7.42 | 14.61 | 65.56 |
| CRAMC | 238.85 | 21.81 | 4763.09 | 1.67 | 756.03 | 1139.86 | 1162.01 | 1097.36 | 41.10 | 62.65 |
| IVC | 9.14 | 58.29 | 287.03 | 13.13 | 12.12 | 5239.21 | 81.72 | 1309.69 | 4.55 | -18.65 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 354 | 397 | 423 | 468 | 505 | 571 | 588 | 567 | 607 | 658 | 705 | 739 | 767 | |
| 152 | 156 | 164 | 178 | 189 | 197 | 202 | 201 | 218 | 229 | 235 | 232 | 273 | |
| Operating Profit | 202 | 241 | 259 | 291 | 316 | 374 | 386 | 365 | 388 | 430 | 470 | 507 | 508 |
| OPM % | 57.16% | 60.73% | 61.22% | 62.09% | 62.66% | 65.53% | 65.61% | 64.46% | 63.98% | 65.27% | 66.66% | 68.65% | 66.30% |
| 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 |
| 310 | 310 | 358 | 374 | 439 | 486 | 392 | 378 | 524 | 456 | 533 | 460 | 665 | |
| Tax % | 24.06% | 21.31% | 20.68% | 8.41% | 24.29% | 25.94% | 24.62% | 21.04% | 24.47% | 24.43% | 24.22% | 16.38% | 24.27% |
| Net Profit | 0 | 0 | 0 | 0 | 332 | 360 | 295 | 299 | 396 | 345 | 404 | 385 | 504 |
| 4 | 4 | 5 | 5 | 5 | 6 | 5 | 5 | 6 | 5 | 6 | 6 | 1 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,308 | 1,592 | 1,479 | 1,203 | 1,062 | 1,307 | 1,350 | 1,643 | 2,231 | 2,709 | 2,869 | |
| 841 | 1,082 | 941 | 690 | 505 | 516 | 556 | 650 | 789 | 916 | 968 | |
| Operating Profit | 467 | 509 | 538 | 513 | 558 | 790 | 794 | 993 | 1,441 | 1,793 | 1,901 |
| OPM % | 35.69% | 32.01% | 36.39% | 42.61% | 52.49% | 60.47% | 58.81% | 60.46% | 64.61% | 66.20% | 66.26% |
| 133 | 157 | 172 | 86 | 357 | 230 | 168 | 394 | 290 | 226 | 249 | |
| Interest | 0 | 2 | 0 | 6 | 4 | 4 | 4 | 6 | 7 | 7 | 7 |
| Depreciation | 18 | 9 | 10 | 33 | 33 | 27 | 30 | 29 | 31 | 40 | 44 |
| Profit before Tax | 581 | 656 | 700 | 560 | 877 | 989 | 928 | 1,352 | 1,694 | 1,972 | 2,113 |
| Tax % | 30.85% | 30.26% | 30.44% | 25.73% | 22.53% | 24.81% | 22.08% | 18.21% | 24.12% | 22.51% | 22.57% |
| Net Profit | 402 | 457 | 487 | 416 | 679 | 743 | 723 | 1,106 | 1,286 | 1,528 | 1,636 |
| EPS | 6.85 | 7.62 | 7.94 | 6.69 | 10.90 | 11.80 | 11.53 | 17.58 | 20.27 | 23.97 | — |
| Dividend Payout % | 61.62% | 80.57% | 75.54% | 73.70% | 72.49% | 91.95% | 99.08% | 93.88% | 88.81% | 89.71% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 21%
- 3 Years:
- 26%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 14%
- 5 Years:
- 18%
- 3 Years:
- 28%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 22%
- 3 Years:
- 53%
- 1 Year:
- 45%
RETURN ON EQUITY
- 10 Years:
- 25%
- 5 Years:
- 29%
- 3 Years:
- 33%
- Last Year:
- 36%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 12 | 612 | 612 | 612 | 616 | 622 | 623 | 630 | 635 | 638 | |
| Minority Interest | 0 | 65 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 1,831 | 1,752 | 1,945 | 1,917 | 2,393 | 2,745 | 2,766 | 3,239 | 3,454 | 3,875 | |
| 0 | 0 | 0 | 0 | 0 | 1 | 0 | 77 | 69 | 63 | |
| Trade Payables | 108 | 133 | 47 | 68 | 63 | 55 | 66 | 50 | 59 | 96 |
| 97 | 160 | 171 | 283 | 320 | 374 | 406 | 379 | 453 | 521 | |
| Total Liabilities | 2,048 | 2,722 | 2,776 | 2,880 | 3,392 | 3,797 | 3,861 | 4,375 | 4,670 | 5,192 |
| 251 | 258 | 256 | 324 | 301 | 296 | 305 | 331 | 868 | 916 | |
| Capital Work in Progress | 0 | 3 | 1 | 2 | 1 | 0 | 2 | 2 | 4 | 2 |
| 947 | 993 | 1,290 | 1,885 | 2,550 | 2,942 | 3,023 | 3,513 | 3,324 | 3,767 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 129 | 69 | 78 | |
| Cash & Bank | 40 | 609 | 543 | 463 | 345 | 338 | 273 | 255 | 229 | 281 |
| 810 | 860 | 686 | 207 | 195 | 220 | 258 | 146 | 177 | 147 | |
| Total Assets | 2,048 | 2,722 | 2,776 | 2,880 | 3,392 | 3,797 | 3,861 | 4,375 | 4,670 | 5,192 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 715 | 566 | 598 | 755 | 630 | 789 | 756 | 777 | 1,200 | 1,466 | |
| Cash from Investing | -315 | -260 | -35 | 37 | -402 | -125 | 98 | -104 | -82 | -326 |
| Cash from Financing | -300 | -92 | -359 | -468 | -239 | -426 | -712 | -671 | -1,116 | -1,150 |
| -59 | 24 | -7 | 174 | -185 | 29 | -27 | 3 | 2 | -10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Nippon Life India Asset Management Limited has informed the Exchange about Schedule of meet
2026-09-11 - Nippon Life India Asset Management Limited has informed the Exchange about Schedule of meet
2026-09-09 - Nippon Life India Asset Management Limited has informed the Exchange about Schedule of meet
2026-09-09 - Nippon Life India Asset Management Limited has informed the Exchange about Schedule of meet
2026-08-31 - Nippon Life India Asset Management Limited has informed the Exchange about Investor Presentation
2026-08-25 - Nippon Life India Asset Management Limited has informed the Exchange about Schedule of meet
2026-08-24 - Nippon Life India Asset Management Limited has informed the Exchange about Schedule of meet
2026-08-21 - Nippon Life India Asset Management Limited has informed the Exchange regarding Allotment of 63529 Shares.
2026-08-19 - Nippon Life India Asset Management Limited has informed the Exchange about Schedule of meet
News
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