Nippon Life India Asset Management Ltd

Nippon Life India Asset Management Ltd

₹ 514 -0.57%
04 Mar 4:01 p.m.
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)

Key Points

Part of Nippon Insurance, Japan[1]
The Company is promoted by Nippon Life Insurance Company, one of the leading private life insurers in Japan, with assets of over US$ 87 trn as of FY23.

  • Market Cap 32,293 Cr.
  • Current Price 514
  • High / Low 543 / 197
  • Stock P/E 35.0
  • Book Value 54.8
  • Dividend Yield 2.24 %
  • ROCE 27.2 %
  • ROE 21.1 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 90.8%

Cons

  • Stock is trading at 9.37 times its book value
  • The company has delivered a poor sales growth of -3.20% over past five years.
  • Earnings include an other income of Rs.317 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
251 280 281 304 315 314 295 309 330 325 329 368 392
108 120 111 119 111 112 120 120 121 119 131 132 138
Operating Profit 143 160 170 185 204 202 175 189 209 206 198 236 254
OPM % 57% 57% 61% 61% 65% 64% 59% 61% 63% 63% 60% 64% 65%
123 55 61 88 31 34 -7 74 59 46 106 72 93
Interest 1 1 1 1 1 1 1 1 1 1 1 2 2
Depreciation 8 7 7 6 6 7 7 7 8 8 8 7 6
Profit before tax 257 207 223 266 228 228 160 255 259 243 295 300 339
Tax % 22% 24% 23% 25% 26% 25% 25% 23% 24% 18% 24% 22% 22%
202 157 171 200 169 171 121 197 198 199 222 235 265
EPS in Rs 3.29 2.55 2.77 3.23 2.72 2.74 1.94 3.15 3.19 3.19 3.57 3.76 4.21
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
642 713 780 930 1,269 1,399 1,676 1,587 1,133 1,325 1,426 1,425 1,415
295 387 402 470 751 800 1,034 892 535 446 452 480 520
Operating Profit 347 325 378 459 519 599 643 695 598 879 974 944 894
OPM % 54% 46% 48% 49% 41% 43% 38% 44% 53% 66% 68% 66% 63%
0 -56 -3 -0 1 1 4 2 1 1 2 6 317
Interest 0 0 0 0 0 0 2 0 6 4 4 4 6
Depreciation 9 8 14 7 4 18 8 10 33 33 27 29 29
Profit before tax 338 262 361 452 516 582 636 687 561 843 945 918 1,176
Tax % 18% 24% 16% 23% 24% 30% 30% 31% 27% 23% 25% 22%
276 199 302 350 390 405 448 475 412 649 711 715 921
EPS in Rs 256.61 172.71 262.41 303.46 338.65 351.37 7.31 7.76 6.74 10.53 11.43 11.47 14.73
Dividend Payout % 53% 79% 52% 95% 37% 0% 82% 77% 74% 76% 96% 100%
Compounded Sales Growth
10 Years: 7%
5 Years: -3%
3 Years: 8%
TTM: 13%
Compounded Profit Growth
10 Years: 11%
5 Years: 10%
3 Years: 20%
TTM: 34%
Stock Price CAGR
10 Years: %
5 Years: 23%
3 Years: 13%
1 Year: 129%
Return on Equity
10 Years: 21%
5 Years: 21%
3 Years: 22%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 11 11 11 11 12 12 612 612 612 616 622 623 625
Reserves 1,190 1,406 1,527 1,477 1,723 1,809 1,728 1,920 1,937 2,410 2,747 2,789 2,817
Preference Capital 0 0 0 30 30 30 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0
303 91 143 174 151 200 250 180 262 262 275 286 316
Total Liabilities 1,503 1,509 1,681 1,663 1,886 2,020 2,590 2,712 2,811 3,289 3,644 3,698 3,758
19 19 14 7 12 251 257 256 322 300 296 303 325
CWIP 0 0 0 0 0 0 3 1 2 1 0 2 2
Investments 601 573 754 845 926 974 951 1,280 1,870 2,513 2,878 2,935 2,936
883 916 914 811 948 795 1,379 1,175 617 474 471 458 495
Total Assets 1,503 1,509 1,681 1,663 1,886 2,020 2,590 2,712 2,811 3,289 3,644 3,698 3,758

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-34 233 557 366 393 570 434 561 592
431 -42 -294 -239 -112 78 -383 -138 118
-404 -174 -300 -108 -292 -467 -239 -425 -713
Net Cash Flow -7 18 -37 20 -11 181 -187 -2 -3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 5 6 4 6 14 11 8 21 16 10 17 22
Inventory Days
Days Payable
Cash Conversion Cycle 5 6 4 6 14 11 8 21 16 10 17 22
Working Capital Days -152 -98 204 64 22 125 -31 14 -36 -26 -12 -17
ROCE % 29% 24% 25% 30% 31% 32% 30% 28% 22% 30% 30% 27%

Shareholding Pattern

Numbers in percentages

77 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.46% 74.23% 73.97% 73.82% 73.80% 73.74% 73.68% 73.66% 73.66% 73.64% 73.47% 73.10%
5.92% 6.21% 6.60% 7.16% 6.69% 6.52% 6.37% 5.77% 4.95% 4.84% 5.06% 5.54%
6.70% 7.46% 8.81% 8.37% 8.83% 9.24% 9.12% 9.06% 9.41% 10.24% 14.57% 14.18%
12.92% 12.10% 10.63% 10.65% 10.68% 10.50% 10.82% 11.52% 11.97% 11.28% 6.92% 7.18%
No. of Shareholders 1,67,5431,63,9331,60,8401,69,2621,69,2181,73,1201,76,5191,84,2851,88,7221,89,0771,71,9681,80,854

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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