Nippon Life India Asset Management Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹57,946 Cr
- P/E
- 35.38
- ROE
- 34.48%
- PEG
- 1.25
- Price to sales
- 20.19
- Debt to equity
- 0.02
- 52W high / low
- ₹1,251 / ₹799
- Sales growth (5Y)
- 15.56%
- EBITDA margin
- 66.73%
- Net profit margin
- 52.31%
- Promoter holding
- 71.80%
- Sales (last year)
- ₹2,869 Cr
Guidance scorecard · Q2 FY27 call
What Nippon Life India Asset Management Ltd's management guided
and where it ranks in Capital Markets
Capital Markets
RevenueQ1 FY27 call
20–40%- Continued growth in both retail and corporate segments, with retail outpacing corporate as a percentage of distribution mix.
- Double-digit growth in Equity Net Sales market share and SIP market share expected to continue, supported by diversified fund offerings (small cap, large cap, multi cap, sectoral funds).
- New business avenues like SIF (Specialized Investment Funds) products are in readiness, expected to contribute once regulatory approvals are obtained.
- Investments in technology, brand, and digital platforms will continue for the next 6-8 quarters to drive growth.
- Operating expenses projected to grow around 18-20% (ex-ESOPs) due to ongoing investments in growth initiatives.
2 more points from Nippon Life India Asset Management Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Nippon Life India Asset Management Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company is investing significantly in technology, digital platforms, and brand activities, with plans to continue this investment over the next six to eight quarters.
- Operating expenses are expected to grow around 18% to 20% (excluding ESOP and one-offs) driven by these investments.
- A strategic partnership (JV) with DWS, Europe's largest asset manager, is in progress for the AIF business, aimed at expanding international reach, especially into Europe.
2 more points from Nippon Life India Asset Management Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Nippon Life India Asset Management Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Nippon Life India Asset Management Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Capital Markets
on management's own guidance
- 2
- BSEGood growth1
- Motil.Oswal.Fin.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Capital Markets companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | BSE | 20–40% | Flat | ₹1.37L Cr | 48.4 |
| 2 | Nippon Life Ind.This stock | 20–40% | Flat | ₹68,184 Cr | 41.6 |
| 3 | Motil.Oswal.Fin. | 20–40% | Flat | ₹63,771 Cr | 32.2 |
| 4 | 20–40% | Flat | ₹31,481 Cr | 29.1 | |
| 5 | 20–40% | Flat | ₹15,334 Cr | 43.8 | |
| 6 | 20–40% | Flat | ₹12,638 Cr | 51.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets rankingFinancials of Nippon Life India Asset Management Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Nippon Life India Asset Management Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 73.10% | 72.86% | 72.66% | 72.49% | 72.43% | 72.32% | 72.25% | 72.10% | 72.05% | 71.93% | 71.80% | 71.72% |
| FIIs + | 5.54% | 5.49% | 6.56% | 7.73% | 8.28% | 8.34% | 7.59% | 7.65% | 7.90% | 7.35% | 7.04% | 7.05% |
| DIIs + | 14.18% | 14.40% | 14.34% | 13.47% | 13.02% | 12.81% | 13.45% | 12.95% | 13.83% | 14.77% | 15.49% | 15.55% |
| Public + | 7.18% | 7.26% | 6.43% | 6.31% | 6.26% | 6.53% | 6.69% | 7.30% | 6.21% | 5.95% | 5.67% | 5.68% |
| No. of Shareholders | 1,80,854 | 1,86,166 | 1,79,749 | 1,90,944 | 2,02,322 | 2,14,835 | 2,10,173 | 2,19,435 | 2,19,415 | 2,08,596 | 2,00,154 | 2,06,138 |
Financials of Nippon Life India Asset Management Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 397 | 423 | 468 | 505 | 571 | 588 | 567 | 607 | 658 | 705 | 739 | 767 | 796 |
| Expenses + | 156 | 164 | 178 | 189 | 197 | 202 | 201 | 218 | 229 | 235 | 232 | 259 | 258 |
| Operating Profit | 241 | 259 | 291 | 316 | 374 | 386 | 365 | 388 | 430 | 470 | 507 | 508 | 537 |
| OPM % | 61% | 61% | 62% | 63% | 66% | 66% | 64% | 64% | 65% | 67% | 69% | 66% | 68% |
| Other Income + | 78 | 107 | 92 | 131 | 121 | 15 | 23 | 146 | 37 | 75 | -34 | 170 | -74 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 7 | 7 | 7 | 7 | 7 | 8 | 9 | 8 | 9 | 11 | 12 | 12 | 12 |
| Profit before tax | 310 | 358 | 374 | 439 | 486 | 392 | 378 | 524 | 456 | 533 | 460 | 664 | 450 |
| Tax % | 21% | 21% | 8% | 24% | 26% | 25% | 21% | 24% | 24% | 24% | 16% | 24% | 28% |
| Net Profit + | 244 | 284 | 343 | 332 | 360 | 295 | 299 | 396 | 345 | 404 | 385 | 504 | 324 |
| EPS in Rs | 3.91 | 4.53 | 5.44 | 5.26 | 5.69 | 4.66 | 4.70 | 6.23 | 5.41 | 6.34 | 6.03 | 7.88 | 5.07 |
Financials of Nippon Life India Asset Management Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 951 | 1,311 | 1,435 | 1,735 | 1,647 | 1,192 | 1,419 | 1,533 | 1,512 | 2,036 | 2,518 | 2,924 | 3,007 |
| Expenses + | 484 | 787 | 837 | 1,082 | 940 | 594 | 505 | 516 | 555 | 649 | 789 | 914 | 984 |
| Operating Profit | 468 | 524 | 598 | 653 | 707 | 598 | 914 | 1,017 | 957 | 1,386 | 1,729 | 2,010 | 2,023 |
| OPM % | 49% | 40% | 42% | 38% | 43% | 50% | 64% | 66% | 63% | 68% | 69% | 69% | 67% |
| Other Income + | 3 | 3 | 1 | 14 | 3 | 1 | 1 | 2 | 5 | 2 | 3 | 9 | 138 |
| Interest | 0 | 0 | 0 | 2 | 0 | 6 | 4 | 4 | 4 | 6 | 7 | 7 | 7 |
| Depreciation | 7 | 4 | 18 | 9 | 10 | 33 | 33 | 27 | 30 | 29 | 31 | 40 | 47 |
| Profit before tax | 464 | 522 | 581 | 656 | 700 | 560 | 877 | 989 | 928 | 1,352 | 1,694 | 1,972 | 2,107 |
| Tax % | 24% | 24% | 31% | 30% | 30% | 26% | 23% | 25% | 22% | 18% | 24% | 23% | |
| Net Profit + | 354 | 396 | 402 | 457 | 487 | 415 | 680 | 744 | 723 | 1,107 | 1,286 | 1,529 | 1,617 |
| EPS in Rs | 6.03 | 6.75 | 6.84 | 7.45 | 7.94 | 6.78 | 11.04 | 11.96 | 11.61 | 17.58 | 20.27 | 23.97 | 25.32 |
| Dividend Payout % | 40% | 36% | 0% | 81% | 76% | 74% | 72% | 92% | 99% | 94% | 89% | 90% |
Financials of Nippon Life India Asset Management Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 12 | 12 | 612 | 612 | 612 | 616 | 622 | 623 | 630 | 635 | 638 | 640 |
| Reserves | 1,495 | 1,750 | 1,831 | 1,753 | 1,958 | 1,981 | 2,484 | 2,857 | 2,892 | 3,352 | 3,578 | 4,021 | 4,130 |
| Borrowings + | 30 | 30 | 30 | 0 | 0 | 0 | 0 | 0 | 0 | 79 | 88 | 75 | 77 |
| Other Liabilities + | 166 | 139 | 179 | 357 | 206 | 288 | 291 | 318 | 345 | 314 | 369 | 458 | 557 |
| Total Liabilities | 1,702 | 1,931 | 2,051 | 2,722 | 2,776 | 2,881 | 3,392 | 3,797 | 3,861 | 4,375 | 4,670 | 5,192 | 5,405 |
| Fixed Assets + | 7 | 12 | 251 | 258 | 256 | 324 | 301 | 296 | 305 | 331 | 868 | 916 | 919 |
| CWIP | 0 | 0 | 0 | 3 | 1 | 2 | 1 | 0 | 2 | 2 | 4 | 2 | 6 |
| Investments | 835 | 911 | 947 | 993 | 1,290 | 1,885 | 2,550 | 2,942 | 3,023 | 3,513 | 3,324 | 3,767 | 3,806 |
| Other Assets + | 860 | 1,008 | 854 | 1,469 | 1,229 | 671 | 540 | 559 | 530 | 530 | 475 | 507 | 674 |
| Total Assets | 1,702 | 1,931 | 2,051 | 2,722 | 2,776 | 2,881 | 3,392 | 3,797 | 3,861 | 4,375 | 4,670 | 5,192 | 5,405 |
Financials of Nippon Life India Asset Management Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -42 | 218 | 556 | 376 | 386 | 605 | 456 | 580 | 587 | 777 | 1,200 | 1,466 |
| Cash from Investing Activity + | 441 | -25 | -316 | -260 | -35 | 37 | -402 | -125 | 98 | -104 | -82 | -326 |
| Cash from Financing Activity + | -404 | -174 | -300 | -92 | -359 | -468 | -239 | -426 | -712 | -671 | -1,116 | -1,150 |
| Net Cash Flow | -5 | 19 | -61 | 24 | -7 | 174 | -185 | 29 | -27 | 3 | 2 | -10 |
| Free Cash Flow | -44 | 209 | 299 | 361 | 378 | 601 | 436 | 573 | 574 | 767 | 659 | 1,389 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 12% | 69% | 120% | 87% | 85% | 126% | 69% | 78% | 79% | 74% | 91% | 95% |
Financials of Nippon Life India Asset Management Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 7 | 17 | 11 | 8 | 23 | 18 | 12 | 18 | 23 | 23 | 10 | 10 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 7 | 17 | 11 | 8 | 23 | 18 | 12 | 18 | 23 | 23 | 10 | 10 |
| Working Capital Days | 127 | 115 | 124 | -36 | 25 | -25 | -19 | -5 | -4 | 6 | -9 | -16 |
| ROCE % | 30% | 31% | 32% | 31% | 28% | 22% | 31% | 30% | 27% | 36% | 41% | 44% |
Guidance history
How Nippon Life India Asset Management Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 10–20% | Flat | — | Planned | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
22 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +3.8% | 64% |
| Last 6 months | −10.4% | 38% |
| Last 3 months | −22.1% | 16% |
The price is 27.7% below its all-time high of ₹1,251 (21 Aug 2026). Stocks more than 20% below their peak have their score halved, so 44 became 22.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Nippon Life India Asset Management Ltd: 0.4 × 64 + 0.4 × 38 + 0.2 × 16 = 44, halved to 22 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Nippon Life India Asset Management Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q4 FY23 earnings call →
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