Nippon Life India Asset Management Ltd

₹ 260 0.91%
25 Nov - close price
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$ 723 bn as of March 31, 2020.

Industry Data[2] The Indian MF industry remains largely consolidated in the top 10 AMCs, which account for >80% of the industry’s total AUM. Currently, the Top 10 players manage 26.6 lakh crore, which accounts for 82.7% of the industry AUM.
The Co. is one of the largest asset management companies in India with over 25 years of track record, and a total AUM of 3.45 lakh crore as of December 31, 2021.[3]

The services offered by the company are:
A) Mutual Funds & ETFs[1] Nippon India Mutual Fund (NIMF) offers a well-rounded portfolio of products i.e. Equity, Debt, Liquid as well as ETF for investors to meet varying requirements.
The Company managed QAAUM of 280'600 cr. catering to an investor base of 10 mn+ unique investors.[4] As of March 31, 2021, Nippon India Mutual Fund (NIMF) manages 68 open ended schemes (including 21 ETFs) and 81 close-ended and interval schemes.

  • Market Cap 16,229 Cr.
  • Current Price 260
  • High / Low 384 / 252
  • Stock P/E 24.3
  • Book Value 53.7
  • Dividend Yield 4.22 %
  • ROCE 30.2 %
  • ROE 22.6 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 4.22%.
  • Company has been maintaining a healthy dividend payout of 79.4%

Cons

  • The company has delivered a poor sales growth of 1.34% over past five years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
300 303 274 233 259 268 302 302 328 339 338 316 332
155 156 113 125 122 122 136 125 135 126 130 137 138
Operating Profit 145 147 162 108 136 147 166 177 193 212 208 179 194
OPM % 48% 49% 59% 46% 53% 55% 55% 59% 59% 63% 62% 57% 58%
22 58 -125 103 64 130 60 67 97 30 34 -17 82
Interest 2 2 0 1 1 1 1 1 1 1 1 1 1
Depreciation 8 9 9 10 8 8 7 7 7 6 7 7 7
Profit before tax 158 194 27 200 191 269 218 236 283 235 234 155 268
Tax % 14% 23% 85% 22% 24% 21% 24% 23% 25% 26% 25% 26% 23%
Net Profit 137 149 4 156 145 212 167 182 214 174 175 114 206
EPS in Rs 2.24 2.44 0.06 2.55 2.37 3.46 2.71 2.94 3.45 2.80 2.81 1.83 3.31
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
951 1,311 1,435 1,735 1,647 1,192 1,419 1,533 1,324
484 787 837 1,082 940 594 505 516 532
Operating Profit 468 524 598 653 707 598 914 1,017 793
OPM % 49% 40% 42% 38% 43% 50% 64% 66% 60%
3 3 1 14 3 1 1 2 130
Interest -0 -0 -0 2 -0 6 4 4 3
Depreciation 7 4 18 9 10 33 33 27 27
Profit before tax 464 522 581 656 700 560 877 989 892
Tax % 24% 24% 31% 30% 30% 26% 23% 25%
Net Profit 354 396 402 457 487 415 680 744 669
EPS in Rs 307.69 344.12 348.92 7.45 7.94 6.78 11.04 11.96 10.75
Dividend Payout % 40% 36% -0% 81% 76% 74% 72% 92%
Compounded Sales Growth
10 Years: %
5 Years: 1%
3 Years: -2%
TTM: 10%
Compounded Profit Growth
10 Years: %
5 Years: 13%
3 Years: 15%
TTM: -14%
Stock Price CAGR
10 Years: %
5 Years: -1%
3 Years: -11%
1 Year: -31%
Return on Equity
10 Years: %
5 Years: 21%
3 Years: 21%
Last Year: 23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
41 42 42 612 612 612 616 622 623
Reserves 1,495 1,750 1,831 1,753 1,958 1,981 2,484 2,856 2,725
-0 -0 -0 -0 -0 -0 -0 -0 -0
196 169 209 357 206 288 292 319 272
Total Liabilities 1,702 1,931 2,051 2,722 2,776 2,881 3,392 3,797 3,620
7 12 251 258 256 324 301 296 290
CWIP -0 -0 -0 3 1 2 1 0 1
Investments 835 911 947 993 1,290 1,885 2,550 2,942 2,832
860 1,008 854 1,469 1,229 671 540 559 497
Total Assets 1,702 1,931 2,051 2,722 2,776 2,881 3,392 3,797 3,620

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-42 218 556 376 386 605 456 580
441 -25 -316 -260 -35 37 -402 -125
-404 -174 -300 -92 -359 -468 -239 -426
Net Cash Flow -5 19 -61 24 -7 174 -185 29

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 7 17 11 8 23 18 12 18
Inventory Days
Days Payable
Cash Conversion Cycle 7 17 11 8 23 18 12 18
Working Capital Days 127 25 124 -36 25 -25 -19 -5
ROCE % 31% 32% 31% 28% 22% 31% 30%

Shareholding Pattern

Numbers in percentages

23 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
75.93 75.92 75.92 75.87 75.81 74.46 74.23 73.97 73.82 73.80 73.74 73.68
5.61 5.26 5.79 5.11 5.41 5.92 6.21 6.60 7.16 6.69 6.52 6.37
6.32 6.72 6.24 6.33 6.60 6.70 7.46 8.81 8.37 8.83 9.24 9.12
12.14 12.10 12.05 12.69 12.17 12.92 12.10 10.63 10.65 10.68 10.50 10.82

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