Nippon Life India Asset Management Limited (NAM-INDIA)

Loading page…

Nippon Life India Asset Management Limited (NAM-INDIA) · mywealthgrid

About

Nippon Life India Asset Management is an asset management company within India's capital markets sector. The company generated revenues of ₹611–₹767 Cr in recent quarters with net profits of ₹338–₹504 Cr, operating with high operating margins (66.26%) and zero debt. Backed by the Nippon Life parent, it is positioned as a capital-efficient player in the Indian AMC landscape.

Face value: ₹10

Market cap

₹66,871 Cr

P/E

40.9×

P/B

14.3×

Dividend yield

ROE

34.5%

ROCE

—

Debt / equity

OPM

66.3%

EPS (TTM)

₹25.7

Book value

₹73.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation at PE 45.61 leaves limited downside protection if earnings growth disappoints
Operating margins of 66.26% (quarterly range 65–72%) depend on AUM expansion; verify sustainability if investor inflows slow
Asset management revenues are cyclical with equity market participation; significant market downturns would compress earnings
SEBI regulatory changes on fees or commission structures could directly compress the margins that drive profitability

Generated analysis · source review pending

Growth drivers

Quarterly revenue grew from ₹611 Cr (Sep 2025) to ₹767 Cr (Jun 2026); verify whether driven by AUM inflows, fee rate expansion, or new products
EPS grew 48% from ₹5.33 to ₹7.89, outpacing revenue growth of 25%, indicating strong per-share profitability gains
ROE of 34.48% indicates capital efficiency sufficient to self-fund organic growth through reinvestment

Generated analysis · source review pending

2,196 historical price candles were omitted because the exchange source has not been verified.

₹1,046.0-2.1%1Y

Quick read

rule-based

Pros

+Strong return on equity of 31.8% (3-yr avg)
+High return on capital employed of 21.3%
+Healthy operating margin of 66.3%
+Profit CAGR of 17.6% over the last 5 years
+Revenue CAGR of 20.6% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 282.7×
+Dividend yield of 3%
+High promoter holding of 71.8% with no pledge

Cons

−Trading at 14.3× book value

Research score

Structured signal from quality, growth, valuation and momentum.

70/100

Business quality: 100

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,308	1,592	1,479	1,203	1,062	1,307	1,350	1,643	2,231	2,709
	—	1,093	940	595	504	515	555	648	788	913
	—	499	539	608	558	792	795	995	1,442	1,796
OPM %	—	31.3%	36.5%	50.5%	52.6%	60.6%	58.9%	60.5%	64.7%	66.3%
Depreciation	10	—	10	33	33	27	30	29	31	40
Interest	—	—	0	6	4	4	4	6	7	7
	128	157	171	-10	357	229	167	394	290	224
Profit before tax	581	656	700	559	878	989	928	1,354	1,695	1,973
Tax	179	198	213	144	198	245	205	246	409	444
Tax %	30.9%	30.3%	30.4%	25.8%	22.5%	24.8%	22.1%	18.2%	24.1%	22.5%
	402	457	487	415	680	744	723	1,107	1,286	1,529
PAT margin %	30.7%	28.7%	32.9%	34.5%	64.1%	57%	53.6%	67.4%	57.7%	56.5%
EPS (₹)	6.9	7.6	7.9	6.8	11	12	11.6	17.7	20.3	24.1
EPS adjusted (₹)	96.8	1.3	7.9	6.8	11	12	11.6	17.6	20.3	24
	0%	78.6%	37.8%	118%	72.5%	91.7%	99.1%	93.2%	88.5%	89.4%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	42	12	612	612	617	622	623	630	635	638
Reserves	1,831	1,973	1,958	1,981	2,484	2,857	2,892	3,352	3,578	4,021
Minority interest	—	45	—	—	—	—	—	—	—	—
	—	30	—	0	0	0	0	—	0	0
	179	185	206	288	291	318	345	393	457	533
Total equity & liabilities	2,051	2,245	2,776	2,881	3,392	3,797	3,861	4,375	4,670	5,192
	251	251	256	324	301	296	305	331	786	916
CWIP	—	1	1	2	1	0	2	2	4	2
Investments	947	1,144	1,290	1,885	2,550	2,942	3,023	0	3,324	3,767
	854	849	1,229	671	540	559	530	4,042	556	507
Total assets	2,051	2,245	2,776	2,881	3,392	3,797	3,861	4,375	4,670	5,192

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	36.5%	50.6%	52.5%	60.5%	58.9%	60.5%	64.6%	66.3%
EBIT margin %	35.8%	47.8%	49.4%	58.4%	56.7%	58.7%	63.3%	64.8%
PAT margin %	32.9%	34.5%	64.1%	57%	53.6%	67.4%	57.7%	56.5%
Working capital
Receivable days	25	18	16	21	—	—	—	—
Inventory days	—	—	0	0	0	0	0	0
Payable days	—	—	45	40	—	—	—	—
NWC days	—	—	-30	-19	—	—	—	—
Leverage
Current ratio	—	—	10.96	12.81	—	—	—	—
Debt to EBITDA	—	0	0	0	0	—	0	0
Debt to equity	—	0	0	0	0	—	0	0
Interest coverage	—	99.7	199	259.8	234.7	217.7	252.4	282.7
Asset turnover	0.53	0.42	0.31	0.34	0.35	0.38	0.48	0.52
Return ratios
Return on assets %	17.5%	14.4%	20.1%	19.6%	18.7%	25.3%	27.5%	29.5%
Return on capital employed %	—	—	28.1%	29.6%	—	—	—	—
Return on equity %	19%	16%	21.9%	21.4%	20.6%	27.8%	30.5%	32.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.47%	73.1%	72.86%	72.66%	72.49%	72.43%	72.32%	72.25%	72.1%	72.05%	71.93%	71.8%
	5.06%	5.54%	5.48%	6.56%	7.73%	8.29%	8.34%	7.6%	7.64%	7.9%	7.34%	7.04%
	14.57%	14.19%	14.4%	14.35%	13.48%	13.02%	12.8%	13.45%	12.96%	13.84%	14.78%	15.49%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	6.9%	7.17%	7.26%	6.43%	6.3%	6.26%	6.54%	6.7%	7.3%	6.21%	5.95%	5.67%
No. of shareholders	—	—	—	—	—	—	—	—	2,19,435	2,19,415	2,08,596	2,00,154

Promoter holding down 1.67 percentage points since Sep 2023.

4 disclosures

Person	Deal	Shares	Value	Holding	Filed
Ashok NanjundarajEmployees/Designated Employees	BuyESOP	10,000	₹37.27 L	0.00% → 0.00%	24 Sept 20257(2)
Ateet Nagar BansalEmployees/Designated Employees	BuyESOP	1,100	₹4.1 L

45 deals · 19 Sept 2022 – 20 Dec 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Dec 2023	INDUSIND BANK LIMITED	Bulk	BSE	Sell	1,78,57,355	₹445.35	₹795.28 Cr
20 Dec 2023	INDUSIND BANK LIMITED	Block	BSE	Sell	77,82,355	₹445.35	₹346.59 Cr
20 Dec 2023	INDUSIND BANK LIMITED	Block	BSE	Sell	58,25,000	₹445.35	₹259.42 Cr
20 Dec 2023	ICICI PRUDENTIAL MUTUAL FUND	Bulk	BSE	Buy	47,01,405	₹445.35	₹209.38 Cr
20 Dec 2023	ICICI PRUDENTIAL MUTUAL FUND	Block	BSE	Buy	47,01,405	₹445.35	₹209.38 Cr
20 Dec 2023	SBI MUTUAL FUND	Bulk	BSE	Buy	32,68,590	₹445.35	₹145.57 Cr
20 Dec 2023	SBI MUTUAL FUND	Block	BSE	Buy	32,68,590	₹445.35	₹145.57 Cr
20 Dec 2023	SBI MUTUAL FUND	Block	BSE	Buy	23,34,706	₹445.35	₹103.98 Cr
20 Dec 2023	SBI MUTUAL FUND	Block	BSE	Buy	21,79,059	₹445.35	₹97.04 Cr
20 Dec 2023	ICICI PRUDENTIAL MUTUAL FUND	Block	BSE	Buy	11,23,595	₹445.35	₹50.04 Cr

1–10 of 45

1 / 5

Mr. U K SinhaNon-Executive - Independent Director-Chairperson
Mrs. Sonu Halan BhasinNon-Executive - Independent Director
Mr. Ashvin Dhirajlal ParekhNon-Executive - Independent Director
Mr. Balasubramanyam SriramNon-Executive - Independent Director
Mr. Sundeep SikkaExecutive - Nominee Director
Mr. Minoru KimuraNon-Executive - Nominee Director
Mr. Hiroki YamauchiNon-Executive - Nominee Director
Mr. Hironao KunitaNon-Executive - Nominee Director
Mr. Parag JoglekarChief Financial Officer
Mr. Valde VargheseCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹1,070.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹1,073.5	-3.5	-0.3%	₹1,073.5	6,235	+84	917	625
23 Nov 2026	₹1,064.1	-4.4	-0.4%	₹1,064.1	85	+24	53	625
29 Dec 2026	₹1,083.9	0	0%	₹1,086.9	0	0	0	625

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 15 fund houses

Held by these funds

4.93%

of the company's equity

All mutual funds

11.05%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

95 schemes · 15 fund houses

		Shares
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	95.08 L	1,114.68	1.56%	1.487%	—
Mid Cap Fund	DSP Mutual Fund	34.01 L	398.7	1.9%	0.532%	-0
MultiCap Fund	SBI Mutual Fund	21.18 L	248.26	1.01%	0.331%	-0
Large & Mid Cap Fund	ICICI Prudential Mutual Fund	19.12 L	224.11	0.67%	0.299%	+6.95 L
Mid Cap FundNEW	ICICI Prudential Mutual Fund	16.45 L	192.83	2.29%	0.257%	—
Multi Cap FundNEW	ICICI Prudential Mutual Fund	13.48 L	158.02	0.81%	0.211%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	10 L	117.23	2.28%	0.156%	-85,833
Portfolio of Kotak Aggressive Hybrid Fund	Kotak Mahindra Mutual Fund	9.92 L	116.31	1.25%	0.155%	-0

1–8 of 95

1 / 12

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

147 announcementsExport CSV

28 Sept 2026, 5:17 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	36.5%	50.6%	52.5%	60.5%	58.9%	60.5%	64.6%	66.3%
EBIT margin %	35.8%	47.8%	49.4%	58.4%	56.7%	58.7%	63.3%	64.8%
PAT margin %	32.9%	34.5%	64.1%	57%	53.6%	67.4%	57.7%	56.5%
Working capital
Receivable days	25	18	16	21	—	—	—	—
Inventory days	—	—	0	0	0	0	0	0
Payable days	—	—	45	40	—	—	—	—
NWC days	—	—	-30	-19	—	—	—	—
Leverage
Current ratio	—	—	10.96	12.81	—	—	—	—
Debt to EBITDA	—	0	0	0	0	—	0	0
Debt to equity	—	0	0	0	0	—	0	0
Interest coverage	—	99.7	199	259.8	234.7	217.7	252.4	282.7
Asset turnover	0.53	0.42	0.31	0.34	0.35	0.38	0.48	0.52
Return ratios
Return on assets %	17.5%	14.4%	20.1%	19.6%	18.7%	25.3%	27.5%	29.5%
Return on capital employed %	—	—	28.1%	29.6%	—	—	—	—
Return on equity %	19%	16%	21.9%	21.4%	20.6%	27.8%	30.5%	32.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
ICICI Prudential Asset Management Company LimitedICICIAMCICICIAMC	₹1,52,462 Cr	₹1,52,462 Cr	₹5,765 Cr	₹4,294 Cr	74.5%	₹3,298 Cr	57.2%	—	85.8%	—
Sbi Funds Management LimitedSBIFUNDSSBIFUNDS	₹1,01,911 Cr	—	₹4,389 Cr	₹3,472 Cr	79.1%	₹3,067 Cr	69.9%	—	43%	—
Nippon Life India Asset Management LimitedNAM-INDIANAM-INDIA	₹66,871 Cr	₹66,871 Cr	₹2,869 Cr	₹1,915 Cr	66.3%	₹1,637 Cr	56.5%	—	34.5%	—
Aditya Birla Sun Life Amc LimitedABSLAMCABSLAMC	₹28,680 Cr	₹28,680 Cr	₹1,861 Cr	₹1,096 Cr	59.9%	₹1,007 Cr	52.9%	—	25.1%	—
Uti Asset Management Company LimitedUTIAMCUTIAMC	₹11,356 Cr	₹11,356 Cr	₹1,909 Cr	₹850 Cr	47.6%	₹461 Cr	27.8%	—	8.9%	—
Canara Robeco Asset Management Company LimitedCRAMCCRAMC	₹4,317 Cr	—	₹102 Cr	₹69 Cr	67.9%	₹51 Cr	50.2%	—	—	—
Gaja Alternative Asset Management LimitedGAJAGAJA	₹1,907 Cr	₹1,949 Cr	₹136 Cr	₹72 Cr	53.2%	₹80 Cr	60.5%	16.8%	16%	—
Shriram Asset Management Company LtdSRAMSETSRAMSET	₹437 Cr	—	₹1 Cr	₹-5 Cr	-62.3%	₹-2 Cr	-86.4%	—	-8.8%	—
Il&Fs Investment Managers LimitedIVCIVC	₹245 Cr	₹245 Cr	₹57 Cr	₹-1 Cr	-2.8%	₹5 Cr	8.7%	—	2%	—

24

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	920	₹2.5	1	+1	1
0	0	0	₹0.0	940	₹3.6	1	+1	1
0	0	0	₹0.0	960	₹5.4	75	+44	76
0	0	0	₹0.0	980	₹7.4	48	+41	41
0	0	0	₹0.0	1,000	₹10.8	77	+43	170
0	0	0	₹0.0	1,020	₹13.6	6	+6	11
5	0	0	₹134.2	1,040	₹19.4	45	0	206
15	+15	19	₹40.0	1,060	₹28.0	13	+6	28

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

Date	Category	Subject	Filing
28 Sept 2026, 5:17 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
28 Sept 2026, 3:02 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
21 Sept 2026, 3:56 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
18 Sept 2026, 5:47 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
18 Sept 2026, 5:44 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
18 Sept 2026, 5:41 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
18 Sept 2026, 5:33 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
15 Sept 2026, 2:50 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	557	376	386	605	456	580	584	777	1,200	1,466
	-294	-260	-35	37	-402	-125	101	-104	-82	-326
	-300	-92	-359	-468	-239	-426	-712	-671	-1,116	-1,150
Net cash flow	-37	24	-7	174	-185	29	-27	3	2	-10
Free cash flow	300	361	378	601	436	573	574	766	661	1,387
CFO / Operating profit %	—	75.4%	71.6%	99.4%	81.8%	73.3%	73.5%	78.2%	83.2%	81.7%

Nippon Life India Asset Management Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Events

Announcements

Announcements

3

Annual reports

Credit ratings

Investor Presentation and earnings call

3

18

1

24

Compounded sales growth

Compounded profit growth

Return on equity

Nippon Life India Asset Management Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Futures3

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Futures3

Annual reports

Credit ratings

Investor Presentation and earnings call

Upcoming and recent3

Dividends18

Board meetings1

Option chain24

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

3

3

18

1

24