Nippon Life India Asset Management Ltd

Nippon Life India Asset Management Ltd

₹ 655 1.25%
18 Jun - 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 JPY 87 trn as of FY23.

  • Market Cap 41,322 Cr.
  • Current Price 655
  • High / Low 664 / 249
  • Stock P/E 37.3
  • Book Value 63.2
  • Dividend Yield 2.52 %
  • ROCE 36.2 %
  • ROE 29.5 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 95.0%

Cons

  • Stock is trading at 10.4 times its book value
  • The company has delivered a poor sales growth of -0.04% over past five years.
  • Earnings include an other income of Rs.394 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
302 302 328 339 338 316 332 354 348 354 397 423 468
136 125 135 126 130 137 138 141 140 152 156 164 178
Operating Profit 166 177 193 212 208 179 194 213 209 202 241 259 291
OPM % 55% 59% 59% 63% 62% 57% 58% 60% 60% 57% 61% 61% 62%
60 67 97 30 34 -17 82 62 40 117 78 107 92
Interest 1 1 1 1 1 1 1 1 1 1 2 2 2
Depreciation 7 7 7 6 7 7 7 8 8 8 7 7 7
Profit before tax 218 236 283 235 234 155 268 266 239 310 310 358 374
Tax % 24% 23% 25% 26% 25% 26% 23% 23% 17% 24% 21% 21% 8%
167 182 214 174 175 114 206 205 198 236 244 284 343
EPS in Rs 2.71 2.94 3.44 2.80 2.81 1.83 3.31 3.29 3.18 3.78 3.91 4.53 5.44
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
733 774 951 1,311 1,435 1,735 1,647 1,192 1,419 1,533 1,512 1,643
432 434 484 787 837 1,082 940 594 505 516 555 649
Operating Profit 301 340 468 524 598 653 707 598 914 1,017 957 994
OPM % 41% 44% 49% 40% 42% 38% 43% 50% 64% 66% 63% 60%
1 4 3 3 1 14 3 1 1 2 5 394
Interest 0 0 0 0 0 2 0 6 4 4 4 6
Depreciation 9 14 7 4 18 9 10 33 33 27 30 29
Profit before tax 293 330 464 522 581 656 700 560 877 989 928 1,352
Tax % 21% 18% 24% 24% 31% 30% 30% 26% 23% 25% 22% 18%
230 271 354 396 402 457 487 415 680 744 723 1,107
EPS in Rs 199.97 234.92 307.69 344.12 348.92 7.45 7.94 6.78 11.04 11.96 11.61 17.58
Dividend Payout % 68% 123% 40% 36% 0% 81% 76% 74% 72% 92% 99% 94%
Compounded Sales Growth
10 Years: 8%
5 Years: 0%
3 Years: 5%
TTM: 9%
Compounded Profit Growth
10 Years: 15%
5 Years: 18%
3 Years: 18%
TTM: 53%
Stock Price CAGR
10 Years: %
5 Years: 24%
3 Years: 22%
1 Year: 159%
Return on Equity
10 Years: 23%
5 Years: 23%
3 Years: 24%
Last Year: 30%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 11 11 11 12 12 612 612 612 616 622 623 630
Reserves 1,446 1,543 1,495 1,750 1,831 1,753 1,958 1,981 2,484 2,857 2,892 3,352
Preference Capital 0 0 30 30 30 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0
104 155 196 169 209 357 206 288 291 318 345 393
Total Liabilities 1,561 1,709 1,702 1,931 2,051 2,722 2,776 2,881 3,392 3,797 3,861 4,375
20 14 7 12 251 258 256 324 301 296 305 331
CWIP 0 0 0 0 0 3 1 2 1 0 2 2
Investments 603 741 835 911 947 993 1,290 1,885 2,550 2,942 3,023 3,513
939 954 860 1,008 854 1,469 1,229 671 540 559 530 530
Total Assets 1,561 1,709 1,702 1,931 2,051 2,722 2,776 2,881 3,392 3,797 3,861 4,375

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-42 218 556 376 386 605 456 580 584 777
441 -25 -316 -260 -35 37 -402 -125 101 -104
-404 -174 -300 -92 -359 -468 -239 -426 -712 -671
Net Cash Flow -5 19 -61 24 -7 174 -185 29 -27 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 8 5 7 17 11 8 23 18 12 18 23 29
Inventory Days
Days Payable
Cash Conversion Cycle 8 5 7 17 11 8 23 18 12 18 23 29
Working Capital Days -3 284 127 115 124 -36 25 -25 -19 -5 -4 -15
ROCE % 22% 30% 31% 32% 31% 28% 22% 31% 30% 27%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.23% 73.97% 73.82% 73.80% 73.74% 73.68% 73.66% 73.66% 73.64% 73.47% 73.10% 72.86%
6.21% 6.60% 7.16% 6.69% 6.52% 6.37% 5.77% 4.95% 4.84% 5.06% 5.54% 5.49%
7.46% 8.81% 8.37% 8.83% 9.24% 9.12% 9.06% 9.41% 10.24% 14.57% 14.18% 14.40%
12.10% 10.63% 10.65% 10.68% 10.50% 10.82% 11.52% 11.97% 11.28% 6.92% 7.18% 7.26%
No. of Shareholders 1,63,9331,60,8401,69,2621,69,2181,73,1201,76,5191,84,2851,88,7221,89,0771,71,9681,80,8541,86,166

* 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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